[ANN][QBC] Québecoin - X11 - DGW - (BITTREX) - Win/Mac/Linux Wallets - New

[Eastwind]

I'll have the initial master wallet with a bit less than 21 000 000 QBC. We can split that up into 5 different wallets, encrypted, backed up to two forms of physical media. A bank in Montréal acts as a trusted third party and doesn't allow access to the vault before a certain moment in time. Fool proof method + the fact that I actually would never dream of touching the premine for illegitimate reasons should be good enough for anyone.

It would be better that we have zero premine. When the coin is launched and mined, a percentage of the coins will be sent to the 5 different wallets you mentioned. As the distribution, payment to development are long term processes, not a large amount of coins are required on day 1.

Not all the premined coins will be lost in one go if the wallets are breached. This will also prevent a large dump of coins soon after the launch by the claimant. If there is not enough mined coins, then the claimants will have to wait for the coins to be available.

The slow release of the coins is beneficial to the long term health of the coin.

However, this process will give the developers less control of the coins, they may not like it.

If you read through this thread you'll see that a slow release is exactly what's planned. I'm the dev and I have no problem with giving up control of the premined coins so that they can't be spent or stolen. I'm the first one who suggested it actually. The coins will stored in a bank vault and not touched until the first airdrop period. QBC will stay rare and valuable except for a few smaller scale giveaways as a promotional tools. The premine is here to stay though as I intend that most of the coins actually stay within Québec, for Québecers.

edit: Also I think you were suggesting taking a percentage from miners instead of a premine but that's really equivalent to having a premine anyway but with way more complications.

On the OP, it still says "Premine : 21 Million - 50% for the population of Québec".

We would like ZERO premine, and 50% of the mined to be distributed slowly to the developers and intended parties. That is a long term process.

[JPGagnon]

Although I wouldn't be worried about people stealing health insurance, since it is free, I was wondering more in regard to identity fraud there. Again, I am not sure how common it is for people to share their numbers or not. If it was like a social security number here in the US, it's certainly not something to freely give out. But if everyone just shares their numbers already, then it does seem safe.

Again though, how will you verify it's a real number? Or a real card?

And as far as the giveaway, I didn't mean the entire giveaway all at once, just a small amount, but to everyone in Quebec. Realistically only a small percentage would claim it anyway.

It's a bit of the chicken and egg thing... nobody knows about the coin, so it makes no sense to give it away at first. But by not giving it away, nobody knows about the coin...

We have social security numbers here, you don't give those to anyone because you'd risk identity fraud the same as in the US. Health insurance cards are unique but not sensitive information. Verifying them could be done in various ways such as simply having them scanned and submitted.

There's a post a bit earlier that I made mentioning the technology adoption cycle. It's useless to give everyone in Québec some coins, even a smaller amount. It will still be mostly the same people getting them (the early adopters) and that's why targeted giveaways are a smarter way to go about it.

On the OP, it still says "Premine : 21 Million - 50% for the population of Québec".

We would like ZERO premine, and 50% of the mined to be distributed slowly to the developers and intended parties. That is a long term process.

Yeah that's what I understood from your post. But that brings zero advantages and only additional complications. Miners get less coins, I have to keep up with controlling the new arrival of coins all the time, they can't be secured 100% since I'd have to go deposit them all the time in cold storage at the bank with a trusted third party. The premine exists to keep the coins in Québec and for a slow distribution. There won't be a flood of coins in the market we're explicitly avoiding that. My work is multiplied by not having a premine and instead using a distribution like you're suggesting without gaining any advantage. It's still a long term process as that's the way it's designed to be anyways.

[poornamelessme]

We have social security numbers here, you don't give those to anyone because you'd risk identity fraud the same as in the US. Health insurance cards are unique but not sensitive information. Verifying them could be done in various ways such as simply having them scanned and submitted.

There's a post a bit earlier that I made mentioning the technology adoption cycle. It's useless to give everyone in Québec some coins, even a smaller amount. It will still be mostly the same people getting them (the early adopters) and that's why targeted giveaways are a smarter way to go about it.

As for distribution, you may be right. Although I think distribution is up to around 8-9% in Iceland and there are reports of people using the coins already to buy stuff. If the news gets out, it'd be more than just early adopters claiming coins. But it could just be Iceland was a fluke there... they did get a lot of press,  nationally.

The scan/submit thing I assumed is what you meant for the cards. But my question is, how will you know the card and number is actually valid? It's like... pretend I was a dev in the US and accepted driver licenses from a specific state only. It's not hard at all for someone to just grab an image off the internet, do a bit of photoshop, stick some numbers in .. and I'm a citizen from wherever.

Is there a way for you to verify if a number is a real number or if someone is faking their ID?

[JPGagnon]

We have social security numbers here, you don't give those to anyone because you'd risk identity fraud the same as in the US. Health insurance cards are unique but not sensitive information. Verifying them could be done in various ways such as simply having them scanned and submitted.

There's a post a bit earlier that I made mentioning the technology adoption cycle. It's useless to give everyone in Québec some coins, even a smaller amount. It will still be mostly the same people getting them (the early adopters) and that's why targeted giveaways are a smarter way to go about it.

As for distribution, you may be right. Although I think distribution is up to around 8-9% in Iceland and there are reports of people using the coins already to buy stuff. If the news gets out, it'd be more than just early adopters claiming coins. But it could just be Iceland was a fluke there... they did get a lot of press,  nationally.

The scan/submit thing I assumed is what you meant for the cards. But my question is, how will you know the card and number is actually valid? It's like... pretend I was a dev in the US and accepted driver licenses from a specific state only. It's not hard at all for someone to just grab an image off the internet, do a bit of photoshop, stick some numbers in .. and I'm a citizen from wherever.

Is there a way for you to verify if a number is a real number or if someone is faking their ID?

You have to remember that Iceland has a population of around 300 000 people. That would mean that approx. 3.75% of Québecers need to try it or adopt it to have an equivalent number. Auroracoin is pretty much the only nation-coin where a fast airdrop makes a bit of sense.

As for the cards there are a few methods you can implement to prevent fraud but you won't ever be able to eliminate it completely. That doesn't really matter since it's only 1/5 of the coins every airdrop, which means you'll be working hard without a big profit margin if you try a scam. Associating a card with a valid facebook account can be one option, then you move on to adding a second form of identification like a drivers license for example and you can do live giveaways as well as part of the airdrop. You get the word out directly in the heart of Montréal for exemple and get some good press coverage while doing it.

[Nxtblg]

As for the cards there are a few methods you can implement to prevent fraud but you won't ever be able to eliminate it completely. That doesn't really matter since it's only 1/5 of the coins every airdrop, which means you'll be working hard without a big profit margin if you try a scam. Associating a card with a valid facebook account can be one option, then you move on to adding a second form of identification like a drivers license for example and you can do live giveaways as well as part of the airdrop. You get the word out directly in the heart of Montréal for exemple and get some good press coverage while doing it.

Do you know anyone who works in a hospital or clinic? 100% sure that there's already standard tech for verifying health card numbers: you just have to have access to it.

[anonymousxx1503]

I don't think it matters right now how the airdrop is done anyway. For the moment you've gotta concentrate on a successful launch for miners.

[Kreativekrypto]

[yonghongtang]

this country coin seems a little different from others.

[Eastwind]

Although I wouldn't be worried about people stealing health insurance, since it is free, I was wondering more in regard to identity fraud there. Again, I am not sure how common it is for people to share their numbers or not. If it was like a social security number here in the US, it's certainly not something to freely give out. But if everyone just shares their numbers already, then it does seem safe.

Again though, how will you verify it's a real number? Or a real card?

And as far as the giveaway, I didn't mean the entire giveaway all at once, just a small amount, but to everyone in Quebec. Realistically only a small percentage would claim it anyway.

It's a bit of the chicken and egg thing... nobody knows about the coin, so it makes no sense to give it away at first. But by not giving it away, nobody knows about the coin...

We have social security numbers here, you don't give those to anyone because you'd risk identity fraud the same as in the US. Health insurance cards are unique but not sensitive information. Verifying them could be done in various ways such as simply having them scanned and submitted.

There's a post a bit earlier that I made mentioning the technology adoption cycle. It's useless to give everyone in Québec some coins, even a smaller amount. It will still be mostly the same people getting them (the early adopters) and that's why targeted giveaways are a smarter way to go about it.

On the OP, it still says "Premine : 21 Million - 50% for the population of Québec".

We would like ZERO premine, and 50% of the mined to be distributed slowly to the developers and intended parties. That is a long term process.

Yeah that's what I understood from your post. But that brings zero advantages and only additional complications. Miners get less coins, I have to keep up with controlling the new arrival of coins all the time, they can't be secured 100% since I'd have to go deposit them all the time in cold storage at the bank with a trusted third party. The premine exists to keep the coins in Québec and for a slow distribution. There won't be a flood of coins in the market we're explicitly avoiding that. My work is multiplied by not having a premine and instead using a distribution like you're suggesting without gaining any advantage. It's still a long term process as that's the way it's designed to be anyways.

The reason for the gradual release of the mined coins to you for distribution is that we do not trust a person. The security and integrity of the coin depends on the implementation of a proper system.

[imbecileee]

nice!

I linked this thread and http://www.qbc.io/  on those two forums.

https://quebecbitcoin.com/forum/viewtopic.php?f=43&t=260
http://forum.pokercollectif.com/monnaie-electronique-bitcoin-litecoin-etc/38025-bitcoin-trollthread-363.html#post1413584

[JPGagnon]

I don't think it matters right now how the airdrop is done anyway. For the moment you've gotta concentrate on a successful launch for miners.

That's definitely the first step right now after launch.

Made me grin for real haha

this country coin seems a little different from others.

Thanks for reading through and taking the time to notice that!

The reason for the gradual release of the mined coins to you for distribution is that we do not trust a person. The security and integrity of the coin depends on the implementation of a proper system.

I'm open to every suggestion to assure integrity and security and we've already started moving in the right directoin.

nice!

I linked this thread and http://www.qbc.io/  on those two forums.

https://quebecbitcoin.com/forum/viewtopic.php?f=43&t=260
http://forum.pokercollectif.com/monnaie-electronique-bitcoin-litecoin-etc/38025-bitcoin-trollthread-363.html#post1413584

Thanks a lot that's great! The poker community in Québec is very active (we've got some great players) and they are a great bunch for Québecoin. With all the sidebets they do, QBC could be a good to get paid for winning.







Ok, a few hours between posts! I think the lack of sleep has finally caught up with me plus I was a wee bit hung over. One of the people who invested by contacting me by e-mail has added some more to his initial investment and I'll be updating the IPO page in just a few minutes! Here's the summary so far!

Québecoin (After 5 Days)

Current IPO status : 9 Investors own 210 000 QBC (100% of all IPO coins) - Total invested : 2.65204626
 BTC

Québecoin IPO page on qbc.io

QBC Summary - Proof of Work : X11 - Difficulty Adjustment : Dark Gravity Wave -  Total Coins : 42 Million - Block reward : 26 QBC - Block time : 2.5 Minutes

For all miners and investors - QBC will not be devalued artificially because of a fast production rate or quick airdrop. QBC generates about half of something like Vertcoin which means each coin will be retain value better and be worth more. We have a delayed distribution/airdrop with release in small giveaways as promotional tools initially and natural adoption by the people of Québec at the beginning. The market won't be diluted by premine coins

[JPGagnon]

I've gotten an e-mail from a group of people here in Québec interested in supporting QBC in various ways. One way they proposed was a QBC multipool similar to blackcoin. Of course the multipool concept works best for POS coins but if it can be created in a specific way, it may still allow good network security for POW coins. The problem is that the multipool can end up giving better results for getting QBC than regular mining at a certain point, miners may abandon mining the real coin in favor of the easiest altcoin chosen by the multipool. This means that the security of the network decreases as hashing power is reduced. One possible way to make it work could be that the multipool also mines the coin it is designed for when network hashrate falls beyond a certain threshold, without actually selling it. It's a difficult balance to obtain but could prove to be a way of stabilizing the value of the coin long term.

[Kreativekrypto]

I've gotten an e-mail from a group of people here in Québec interested in supporting QBC in various ways. One way they proposed was a QBC multipool similar to blackcoin. Of course the multipool concept works best for POS coins but if it can be created in a specific way, it may still allow good network security for POW coins. The problem is that the multipool can end up giving better results for getting QBC than regular mining at a certain point, miners may abandon mining the real coin in favor of the easiest altcoin chosen by the multipool. This means that the security of the network decreases as hashing power is reduced. One possible way to make it work could be that the multipool also mines the coin it is designed for when network hashrate falls beyond a certain threshold, without actually selling it. It's a difficult balance to obtain but could prove to be a way of stabilizing the value of the coin long term.

JP this could be very doable, here's why: In 2 months time the amount of GPU asic resistant coins will be much more prevalent. I'm already seeing the trend kick in as we speak (High5coin, of course Darkcoin, Hirocoin etc.) This multipool could be literally an x11/hefty-1 pool as more devs switch to this algorithm type. It's just an idea, but mark my words, not everyone is happy about asics, myself included. The number of resistant algo's we will see by the summer could actually make this multipool offer viable.

[kache]

X11+DGW?
Perfection, my miners are waiting eagerly for launch.

[DjPxH]

Oh! I am ready for that launch!

I'll do my best to get involved as much as possible in this coin, JP I'll contact you tomorrow by email.

I also think every post in this thread should have the appropriate English translation. (Even before the french text). You want to make sure you don't scare away potential investors/miners. Last thing you want is for the only few of us that speaks french to be left out with this coin lol; would you invest/mine a new German coin in a half-translated thread?

[JPGagnon]

I've gotten an e-mail from a group of people here in Québec interested in supporting QBC in various ways. One way they proposed was a QBC multipool similar to blackcoin. Of course the multipool concept works best for POS coins but if it can be created in a specific way, it may still allow good network security for POW coins. The problem is that the multipool can end up giving better results for getting QBC than regular mining at a certain point, miners may abandon mining the real coin in favor of the easiest altcoin chosen by the multipool. This means that the security of the network decreases as hashing power is reduced. One possible way to make it work could be that the multipool also mines the coin it is designed for when network hashrate falls beyond a certain threshold, without actually selling it. It's a difficult balance to obtain but could prove to be a way of stabilizing the value of the coin long term.

JP this could be very doable, here's why: In 2 months time the amount of GPU asic resistant coins will be much more prevalent. I'm already seeing the trend kick in as we speak (High5coin, of course Darkcoin, Hirocoin etc.) This multipool could be literally an x11/hefty-1 pool as more devs switch to this algorithm type. It's just an idea, but mark my words, not everyone is happy about asics, myself included. The number of resistant algo's we will see by the summer could actually make this multipool offer viable.

I think it's definitely something to keep on the horizon, I thought the blackcoin multipool was genius when I first saw it, there's probably a way to adapt it for POW.

X11+DGW?
Perfection, my miners are waiting eagerly for launch.

Great to hear it! I'm really excited about the mining launch!

Oh! I am ready for that launch!

I'll do my best to get involved as much as possible in this coin, JP I'll contact you tomorrow by email.

I also think every post in this thread should have the appropriate English translation. (Even before the french text). You want to make sure you don't scare away potential investors/miners. Last thing you want is for the only few of us that speaks french to be left out with this coin lol; would you invest/mine a new German coin in a half-translated thread?

Oh yeah I've definitely started doing that since someone made a comment about it, there will be no untranslated comment here. There's a germanycoin but I don't think the devs are even german? So they won't even face that problem 

[JPGagnon]

I've updated the IPO table on www.qbc.io/IPO with the latest amounts. We've still got a ton of room for growth and people joining in. Read through the thread and all the responses to get a feel for QBC and why it's going to give nation-coins a good name.

[realrover]

I just have sent some funds from lovely Toronto to support our good neighbors in Quebec. Some personal reasons behind it:
- The coin specs and the developer look rock solid. High quality staff and stuff, IMHO.
- I love X11, I'm mining Hirocoin and looking to invest into another X11 coin. I will certainly mine Quebecoin when it starts.
- As a Canadian I like any opportunity to support a Canadian product.
- I love Quebec. Every Christmas we ski in Mont Tremblant. Looking forward to spend some QBC there next time!

Good luck with IPO and Quebecoin promotion, JP!

[realrover]

Just a thought - wouldn't QCC be better that QBC ?

[JPGagnon]

I've gotten another PM on here from a member registered since early 2013 with a 0.4 BTC endorsement. As usual I've encouraged coming forward in this thread, it's the best way to start building a community and a sense of trust that people have lost in the general crypto community. (edit: while I was typing this, he came forward in the thread so thanks a lot realrover!)

I've noticed that we've gone from a rougher start and a few negative posts to a state of curiosity and neutrality. The momentum has shifted towards acceptance, and indifference instead of hate. We need to keep pushing it towards a positive buzz and create excitement about the possibilities of the first nation coin with an actual plan. QBC is a league above other nation coins in both features and planning for the future. Creating a real nation coin simply can't be done within months as other coins are claiming and pretending to do. They're setting themselves up to fail and the devs will be jumping ship soon enough.

QBC is different in almost every aspect. The tech specs are top notch, the mining distribution is really great and mining will be really smooth and enjoyable this summer with X11 and DGW. Each QBC is designed to be valuable and stay that way. The IPO is still far away from the intended starting price when trading begins. Somewhere between 0.00025 and 0.00045 BTC per QBC is a good starting price target based on a well funded IPO floor price and 0.002 BTC/QBC should be attainable within the short therm after that.

After 90 days of mining there will be approx 1.55 Million QBC in circulation (1.35 Million mined + 210 000 IPO coins). In the same timeframe Vertcoin will have generated an additional 2.59 million coins and Spaincoin for example is 6.48 million. Now as I've said before Vertcoin is a quality coin with a fair distribution but it still has to generate a lot of new investment daily to keep up the price and Spaincoin was simply doomed from the beginning unfortunately and run out of hype quickly. 1.35 Million QBC distributed fairly amongst miners in the first 90 days means that you can expect a more stable price and avoid dumping from whales, which there won't be many of.

People are going crazy about "Zetacoin" right now, while most of the coins have already been mined (it was released mid 2013 if i remember correctly and then revamped not too long ago as far as design goes). There are a few big whales with millions of coins waiting to dump.