[ANN] [GIV] GiveBackCoin - Giving Back To The Community [2014-05-15]

[GiveBackCoin]

GiveBackCoin
https://i.imgur.com/sxLkm82.png
Giving back to the community

What?
GiveBackCoin is a semi-rare, multi-algorithm coin that aims to give back to the many supporters of the alt-coin community.

When?
Launched May 15, 2014 @ 00:00 GMT

Specifications
Forked from: Myriadcoin
PoW: Scrypt/SHA256D/Qubit/Skein/Groestl
Block Time: 3.75 minutes (about 45 seconds per algorithm)
Total Coins: 7,001,155
Block Rewards: Starting at 10 GIV
Block Halving: Every 1 month, stopping at 1.25 coins/block (4 months). After 7 years, stop generating coins.
Difficulty: Weighted per algorithm, adjusted each block
Premine: 1% (see Premine section below)
P2P Port: 8811
RPC Port: 8911

How it works
Each proof of work algorithm has its own independent difficulty.
Any algorithm can find the next block.
All the algorithms use the same difficulty adjustment method.
On average, each algorithm has the same chance of finding the next block.
Each algorithm aims for a block generation time of 3.75 minutes.
Over the five algorithms, a block should be found on average every 45 seconds.

Premine
A total of 1% of the total supply of coins has been premined (about 70,000). This will be distributed to qualified individuals and organizations in the following way:
Coin Creators (25%) - Any alt-coin development team with at least 1 month on an exchange and with at least a 1000 satoshi value. To be eligible, you must be able to PM us using the original BitcoinTalk forum handle you used to post the ANN thread with.
Pool Operators (25%) - Multi-pools offering payout in the form of one or more alt-coins.
Coin Promoters (bounties) (25%) - Will be divided up as per below.
Coin Team (25%) - The remainder will be distributed amoungst our development team for their effort.
WE ARE OFFERING A HEFTY BOUNTY TO A QUALIFIED WEB APPLICATION DEVELOPER FOR AN IDEA WE HAVE PLANNED. PLEASE PRIVATE MESSAGE US TO APPLY.

Bounties
All bounties share the 25% from the Coin Promoters premine section. They are divided as follows:
30% - Exchanges
30% - Block explorer
30% - Pools
10% - Graphics and Website

Download
GitHub: https://github.com/mfiano/givebackcoin
Source: https://github.com/mfiano/givebackcoin/releases/download/0.1/givebackcoin-src.rar
Windows wallet: https://github.com/mfiano/givebackcoin/releases/download/0.1/givebackcoin-win.rar
Wallet Password: 8!vSq7B[nR8q)p

Pools
axPool (SHA256/Scrypt/Skein/Qubit)
giv.cryptorian.us (SHA256/Scrypt/Skein/Qubit)
520cn (SHA256)

Exchanges
Bittrex

Other
QQ Group ID: 148792960

IRC
#givebackcoin @ freenode

Team
axion (Lead developer)
365coin team (co-developers)

[platorin]

Good luck mate and all the best with your project.

[WSCC]

Good luck.
Although I don't know you this project.

[niubidaye]

Good luck
Although I'm not going to attend

[Wulfcastle]

Good luck bud.

Inb4 GiveHeadCoin.

[varunsin]

name looks good, good luck

[GiveBackCoin]

Thanks for the support. A quick update. We are in need of a nicer logo and a few other things. The bounties for these will be paid out at launch if anyone wants to work on any of them.

[DishCatcher]

this is something new.
will keep an eye on u guys

[Leebo]

It's junk, but I'm going to give it a try.

[GiveBackCoin]

It's junk, but I'm going to give it a try.

I'm sorry you feel that way, but we have learned from our past mistakes and will do what we can to make sure this coin succeeds. We have a reputable organization willing to host our official pool at launch, as well as in negotiation for exchange listings soon after launch. The rarity of this coin, the developers behind it, and their plans for its future make it an opportunity for a try at the very least. Thank you for your comment though.

[GiveBackCoin]

No, there is no IPO. A coin with premine gets bad enough of a reputation. We understand that people have got burned before and wanted to offer as little risk to all involved while still being able to give back to those who put a lot of effort into the community. With that said, you could try fulfilling one of our bounty offers for a nice chunk of coinage, as this is a semi-rare coin and a very nice chunk to receive.

[GiveBackCoin]

We are pleased to announce someone has claimed the block explorer bounty. All bounties will be distributed soon after launch. Keep up the good work

[GiveBackCoin]

Just wanted to give a heads up that we have already 1 pool for each algorithm for the bounty. There is room for more if anyone wants to run a GIV pool for launch.

[youngcave]

i will attend until you have pools and exchanges

[kufan]

interesting.

[365Coin]

Fun project. Keep an eye on this one here. I know I will be, also assisting in getting the coin up and running!

[GiveBackCoin]

Quick update: Bounties have been claimed for graphics, website, and pools. We will no longer be paying out for these. Side note: Premine dispersion has been slightly changed to be more fair. Let us know what you like/dislike. Preparing for the big day next week!

[hashhot]

nice,good luck

[BigWait]

...givebakcoin..
Givecoin brother>?

[brian_nguyen]

Another day another coin, but I'm in because of the # of coins. Got tired of holding million of dead coins.