[ANN] [DOLP] ★★DolphinCoin★★| The First Decentralized Angel Investing Blockchain

[awoland]

And how did you get access to the web site page DolpShare (Window on the screen under DOLP GUI wallet)?

[liueks]

the btc too little. why just 0.025 btc or 0.05 btc one day . i see you say 1btc one day

[iram3130]

the btc too little. why just 0.025 btc or 0.05 btc one day . i see you say 1btc one day

Developer paying from his own pockets, so you can't demand from him.

It's unique feature of dividend, no other coins give dividends for holding coins.

[Vitalogy]

And how did you get access to the web site page DolpShare (Window on the screen under DOLP GUI wallet)?

http://www.dolpshare.com/index.php/project/showdetail

[firedoner]

the btc too little. why just 0.025 btc or 0.05 btc one day . i see you say 1btc one day

Developer paying from his own pockets, so you can't demand from him.

It's unique feature of dividend, no other coins give dividends for holding coins.

exactly... we must cut them slack and spread the word... the more people into this coin the more dividends

[flaminius]

In our original distribution plan for DOLP, we thought we would have many miners on Multipool to mine but finally we found that it was hard to make ends meet if we keep distributing 1 BTC dividend per day for 100 days. There are 8 people in our DOLP dev team and a few dozen people in the IOS game team. So we have to change the distribution plan before we can survive and make profit.

Now the amount of the daily BTC dividend depends on the real profits of Multipool. We will distribute 80% of the profits as BTC dividend and save 20% as operating cost. The daily DOLP distribution will be twice of the real profit. For example, if we earn 0.05 BTC on Multipool today, we will distribute 0.04 BTC as dividend and 10,000,000 (0.05*2/0.00000001) DOLP to miners. Considering the DOLP price is 2 satoshi now and we still calculate the amount of DOLP at the price of 1 satoshi, the real DOLP distribution amount is the quadruple of the daily revenue.

The distribution policy will not change until the total amount of distributed DOLP on Multipool reaches 3B. After that the 98% of daily profit of Multipool will be used to buy DOLP from the market and distributed to miners. 1% of daily profit will be distributed as BTC dividend. 1% of daily profit will be saved for operating cost. If we have other projects making profits, we will surely add part of the profits to the BTC dividend then.

I've been doing some tests with the multipool and running some numbers, and there seems to be a problem with the calculations for DOLP distribution as well as the BTC dividends:

- On July 16th, I received 10,716,007.219 DOLP from the X11 node of the multipool. This would have been for mining done on July 15th. By your own math above, 10,000,000 DOLP should have generated a BTC dividend of 0.04 BTC all by itself, and yet the dividend payments for the 14th, the 15th, and the 16th are all only 0.025 BTC. What happened to the rest of the dividend from my hashpower, as well as the dividend from whoever else was mining that day?

- On July 24th, I put 2 Terahashes on the SHA256 node of the multipool for 24 hours. According to the calculator at Coinwarz, 2 TH should have generated approximately 0.06092450 BTC, and by the math above, I should have been able to expect about 24,369,800 DOLP from the pool and about 0.0487396 BTC (0.06092450 x 0.8 ) to be added to the BTC distribution in addition to whatever was being earned by other miners. Instead, I received a total of 627046.015 DOLP... about 2.6% of what I should have. It is hard to tell whether the correct amount got added to the BTC dividends... the 24th was 0.035 and the 25th was 0.04, so between the two days, it is possible that the approximately 0.049 BTC was distributed properly. I was going to do another test that should add about 0.2 BTC to the dividend, but I think I'll wait until the dev team checks their math.

- On July 26th, I put 420 GH on SHA256, 14.5 MH on Scrypt, and 40 MH on X11 (each for 24 hours). On SHA256, the calculator said 420 GH should bring in approximately 0.01267719 BTC, which should have been worth 5,070,876 DOLP by your math, but I got only 184378.7029 DOLP, or about 3.6% of what I should have. On Scrypt, using LTC as a baseline (and the pool really should be mining a coin that is worth more than LTC, right?), the calculator said that 14.5 MH should bring in approximately 0.00820855 BTC worth of coins, which should have been worth 3,283,420 DOLP (again, according to your own math above), but I received only 69143.8196 DOLP, or about 2.1% of what I should have. On X11, I used Darkcoin as a baseline (and again, the pool is surely mining a coin that is worth more than DRK, right?). According to the calculator, 40 MH should have brought in approximately 0.01243172 BTC worth of coins, which should have been worth 4,972,688 DOLP, but I only received 1,219,944.7535 DOLP, or about 24.5% of what I should have.

For those that are curious, here is the cost breakdown (I used rented miners for the tests):

July 16/17:  300 MH X11 rig at a cost of 0.13975237 BTC got me 11,598,182.8149 DOLP.   Cost =  1.2 Satoshi per DOLP (0.000000012 BTC)
July 24:  2 TH SHA256 rig at a cost of 0.06092450 BTC got me 627,046.015 DOLP.  Cost = 9.7 Satoshi per DOLP (0.000000097 BTC)
July 26:  420 GH SHA256 rig at a cost of 0.012051 BTC got me 184378.7029 DOLP.  Cost = 6.5 Satoshi per DOLP (0.000000065 BTC)
             14.5 MH Scrypt rig at a cost of 0.0131095 BTC got me 69143.8196 DOLP.  Cost = 19 Satoshi per DOLP (0.00000019 BTC)
             40 MH X11 rig at a cost of 0.02093372 BTC got me 1,219,944.7535 DOLP.  Cost = 1.7 Satoshi per DOLP (0.000000017 BTC)

Dev team please check your calculations and get this sorted out as soon as possible. It'd be nice if you figured out a way to compensate scrypt and SHA miners as well for the DOLP that they should have been receiving but haven't been.

In any case, for now, mining seems to be an utter and complete waste of time and resources. SHA miners can get almost 10 times the DOLP by mining BTC directly and buying it at 1 satoshi (5x at 2 satoshi), Scrypt miners could mine LTC, sell for BTC, and still get more than 10x more DOLP than mining on the pool, and even X11 costs more to mine than to simply buy. With numbers like these, there is really no incentive at all to mine on the multipool other than to add to the dividends, but it doesn't seem like that is being done properly either. What a colossal clusterf*ck!

[flaminius]

the btc too little. why just 0.025 btc or 0.05 btc one day . i see you say 1btc one day

Developer paying from his own pockets, so you can't demand from him.

It's unique feature of dividend, no other coins give dividends for holding coins.

exactly... we must cut them slack and spread the word... the more people into this coin the more dividends

Cut them some slack?

The website at http://www.dolphincoin.org/  still states "In order to assure the development of DOLP in its early stage, the dev team will distribute 0.1 BTC dividend on DOLP launch day. And 0.1 BTC will be added each day until it reaches at least 1 BTC. From then on, the distribution of at least 1 BTC dividend per day will be kept for 100 days. After that the amount of dividend depends on the real profits of projects." That is utter and complete false advertising as far as I am concerned. Some people are not on these forums and obviously do not know that the distribution rules have changed. People go to the web site, see that there is supposed to be 1 BTC/day distributed. It piques their interest, and they go buy some DOLP on the exchange, all excited to get in on this coin that must be pretty great and have a good team behind it if they are willing to invest 100 BTC into it. Then they find out that the dividends are typically less than 5% of what is stated on the web site, and get rightfully pissed because when you compare what was promised to the reality, it's really hard not to consider this coin a fraudulent scam. The dev team (yes, apparently there's a whole team) can't be bothered to take 10 minutes and update their website with accurate information, which would seem to indicate a desire to intentionally misinform and deceive the people that they supposedly want to support their coin.

But "we must cut them slack and spread the word"? Yeah, ok... I'll get right on that.  ( <---- That's sarcasm by the way, just in case any of you didn't catch that)

[meizi]

dolp，We are waiting for you waking up, have a bigger development.

[flaminius]

Oh, and then there's this little gem here....

It's pretty self-explanatory, but the short version is that on the first day that FobCoin.com went live, I was able to sell 1,296,000 DOLP for 0.1971858 BTC but there is apparently no record of the transactions, even though they show up in my trade history, and then support just brushes me off, stating that "1,296,000 DOLP won't  worth 0.19 BTC anyway". Either Fobcoin.com support is completely incompetent, or they are blatantly ripping me off. Either way, I'll never be using that exchange again.

Awesome job devs! You built yourselves a nice, dependable, very trustworthy exchange there!  ( <--- Again, that's sarcasm.)

Here's the support email and trade history for your viewing pleasure:

[DOLPCOIN]

In our original distribution plan for DOLP, we thought we would have many miners on Multipool to mine but finally we found that it was hard to make ends meet if we keep distributing 1 BTC dividend per day for 100 days. There are 8 people in our DOLP dev team and a few dozen people in the IOS game team. So we have to change the distribution plan before we can survive and make profit.

Now the amount of the daily BTC dividend depends on the real profits of Multipool. We will distribute 80% of the profits as BTC dividend and save 20% as operating cost. The daily DOLP distribution will be twice of the real profit. For example, if we earn 0.05 BTC on Multipool today, we will distribute 0.04 BTC as dividend and 10,000,000 (0.05*2/0.00000001) DOLP to miners. Considering the DOLP price is 2 satoshi now and we still calculate the amount of DOLP at the price of 1 satoshi, the real DOLP distribution amount is the quadruple of the daily revenue.

The distribution policy will not change until the total amount of distributed DOLP on Multipool reaches 3B. After that the 98% of daily profit of Multipool will be used to buy DOLP from the market and distributed to miners. 1% of daily profit will be distributed as BTC dividend. 1% of daily profit will be saved for operating cost. If we have other projects making profits, we will surely add part of the profits to the BTC dividend then.

I've been doing some tests with the multipool and running some numbers, and there seems to be a problem with the calculations for DOLP distribution as well as the BTC dividends:

- On July 16th, I received 10,716,007.219 DOLP from the X11 node of the multipool. This would have been for mining done on July 15th. By your own math above, 10,000,000 DOLP should have generated a BTC dividend of 0.04 BTC all by itself, and yet the dividend payments for the 14th, the 15th, and the 16th are all only 0.025 BTC. What happened to the rest of the dividend from my hashpower, as well as the dividend from whoever else was mining that day?

- On July 24th, I put 2 Terahashes on the SHA256 node of the multipool for 24 hours. According to the calculator at Coinwarz, 2 TH should have generated approximately 0.06092450 BTC, and by the math above, I should have been able to expect about 24,369,800 DOLP from the pool and about 0.0487396 BTC (0.06092450 x 0.8 ) to be added to the BTC distribution in addition to whatever was being earned by other miners. Instead, I received a total of 627046.015 DOLP... about 2.6% of what I should have. It is hard to tell whether the correct amount got added to the BTC dividends... the 24th was 0.035 and the 25th was 0.04, so between the two days, it is possible that the approximately 0.049 BTC was distributed properly. I was going to do another test that should add about 0.2 BTC to the dividend, but I think I'll wait until the dev team checks their math.

- On July 26th, I put 420 GH on SHA256, 14.5 MH on Scrypt, and 40 MH on X11 (each for 24 hours). On SHA256, the calculator said 420 GH should bring in approximately 0.01267719 BTC, which should have been worth 5,070,876 DOLP by your math, but I got only 184378.7029 DOLP, or about 3.6% of what I should have. On Scrypt, using LTC as a baseline (and the pool really should be mining a coin that is worth more than LTC, right?), the calculator said that 14.5 MH should bring in approximately 0.00820855 BTC worth of coins, which should have been worth 3,283,420 DOLP (again, according to your own math above), but I received only 69143.8196 DOLP, or about 2.1% of what I should have. On X11, I used Darkcoin as a baseline (and again, the pool is surely mining a coin that is worth more than DRK, right?). According to the calculator, 40 MH should have brought in approximately 0.01243172 BTC worth of coins, which should have been worth 4,972,688 DOLP, but I only received 1,219,944.7535 DOLP, or about 24.5% of what I should have.

For those that are curious, here is the cost breakdown (I used rented miners for the tests):

July 16/17:  300 MH X11 rig at a cost of 0.13975237 BTC got me 11,598,182.8149 DOLP.   Cost =  1.2 Satoshi per DOLP (0.000000012 BTC)
July 24:  2 TH SHA256 rig at a cost of 0.06092450 BTC got me 627,046.015 DOLP.  Cost = 9.7 Satoshi per DOLP (0.000000097 BTC)
July 26:  420 GH SHA256 rig at a cost of 0.012051 BTC got me 184378.7029 DOLP.  Cost = 6.5 Satoshi per DOLP (0.000000065 BTC)
             14.5 MH Scrypt rig at a cost of 0.0131095 BTC got me 69143.8196 DOLP.  Cost = 19 Satoshi per DOLP (0.00000019 BTC)
             40 MH X11 rig at a cost of 0.02093372 BTC got me 1,219,944.7535 DOLP.  Cost = 1.7 Satoshi per DOLP (0.000000017 BTC)

Dev team please check your calculations and get this sorted out as soon as possible. It'd be nice if you figured out a way to compensate scrypt and SHA miners as well for the DOLP that they should have been receiving but haven't been.

In any case, for now, mining seems to be an utter and complete waste of time and resources. SHA miners can get almost 10 times the DOLP by mining BTC directly and buying it at 1 satoshi (5x at 2 satoshi), Scrypt miners could mine LTC, sell for BTC, and still get more than 10x more DOLP than mining on the pool, and even X11 costs more to mine than to simply buy. With numbers like these, there is really no incentive at all to mine on the multipool other than to add to the dividends, but it doesn't seem like that is being done properly either. What a colossal clusterf*ck!

The amount of the daily BTC dividend ONLY depends on the real profits of Multipool but not the DOLP you received. On average 45M generates 0.025 BTC dividend. You cannot calculate the BTC dividend according to the DOLP you received.

If we distribute DOLP according to real profits and market price of DOLP, we should distribute 2,500,000 DOLP on July 16th. But now our policy is that if the amount is lower than 10,000,000, we will distribute at least 10,000,000 DOLP every day. This also means you cannot use DOLP to calculate the BTC dividend.

How to convert x11/sha256 to scrypt:
x11:scrypt = 2.7:1
sha256:scrypt = 70:1

[firedoner]

the btc too little. why just 0.025 btc or 0.05 btc one day . i see you say 1btc one day

Developer paying from his own pockets, so you can't demand from him.

It's unique feature of dividend, no other coins give dividends for holding coins.

exactly... we must cut them slack and spread the word... the more people into this coin the more dividends

Cut them some slack?

The website at http://www.dolphincoin.org/  still states "In order to assure the development of DOLP in its early stage, the dev team will distribute 0.1 BTC dividend on DOLP launch day. And 0.1 BTC will be added each day until it reaches at least 1 BTC. From then on, the distribution of at least 1 BTC dividend per day will be kept for 100 days. After that the amount of dividend depends on the real profits of projects." That is utter and complete false advertising as far as I am concerned. Some people are not on these forums and obviously do not know that the distribution rules have changed. People go to the web site, see that there is supposed to be 1 BTC/day distributed. It piques their interest, and they go buy some DOLP on the exchange, all excited to get in on this coin that must be pretty great and have a good team behind it if they are willing to invest 100 BTC into it. Then they find out that the dividends are typically less than 5% of what is stated on the web site, and get rightfully pissed because when you compare what was promised to the reality, it's really hard not to consider this coin a fraudulent scam. The dev team (yes, apparently there's a whole team) can't be bothered to take 10 minutes and update their website with accurate information, which would seem to indicate a desire to intentionally misinform and deceive the people that they supposedly want to support their coin.

But "we must cut them slack and spread the word"? Yeah, ok... I'll get right on that.  ( <---- That's sarcasm by the way, just in case any of you didn't catch that)

dude i have recieved 0.0075 btc from dividends alone... if you are not happy.... then leave... no one cares about your sarcasm... yes cut them slack its out of their pocket... as i said gtfo of this coin if you feel scammed or ripped off.... dont cry and winge like a baby... which is what you are doing

[liueks]

4B for project initiators？ 4B he always keep? or give others

[flaminius]

the btc too little. why just 0.025 btc or 0.05 btc one day . i see you say 1btc one day

Developer paying from his own pockets, so you can't demand from him.

It's unique feature of dividend, no other coins give dividends for holding coins.

exactly... we must cut them slack and spread the word... the more people into this coin the more dividends

Cut them some slack?

The website at http://www.dolphincoin.org/  still states "In order to assure the development of DOLP in its early stage, the dev team will distribute 0.1 BTC dividend on DOLP launch day. And 0.1 BTC will be added each day until it reaches at least 1 BTC. From then on, the distribution of at least 1 BTC dividend per day will be kept for 100 days. After that the amount of dividend depends on the real profits of projects." That is utter and complete false advertising as far as I am concerned. Some people are not on these forums and obviously do not know that the distribution rules have changed. People go to the web site, see that there is supposed to be 1 BTC/day distributed. It piques their interest, and they go buy some DOLP on the exchange, all excited to get in on this coin that must be pretty great and have a good team behind it if they are willing to invest 100 BTC into it. Then they find out that the dividends are typically less than 5% of what is stated on the web site, and get rightfully pissed because when you compare what was promised to the reality, it's really hard not to consider this coin a fraudulent scam. The dev team (yes, apparently there's a whole team) can't be bothered to take 10 minutes and update their website with accurate information, which would seem to indicate a desire to intentionally misinform and deceive the people that they supposedly want to support their coin.

But "we must cut them slack and spread the word"? Yeah, ok... I'll get right on that.  ( <---- That's sarcasm by the way, just in case any of you didn't catch that)

dude i have recieved 0.0075 btc from dividends alone... if you are not happy.... then leave... no one cares about your sarcasm... yes cut them slack its out of their pocket... as i said gtfo of this coin if you feel scammed or ripped off.... dont cry and winge like a baby... which is what you are doing

You are completely missing the point. The very simple point I am trying to make here is that information concerning distribution and dividends varies depending on if you are on the multipool site, these forums, or the dolphincoin website. It leads to misinformation and confusion, which is bad for the coin, and yet it has been that way for over a month. What I'm trying to suggest is that the dev team take a few minutes and synchronize all the information at all sources so it all matches, is correct, and is therefore useful.

[Stinky_Pete]

Agreed. The rules seem to change every few days; I've stopped trying to understand them.

[firedoner]

the btc too little. why just 0.025 btc or 0.05 btc one day . i see you say 1btc one day

Developer paying from his own pockets, so you can't demand from him.

It's unique feature of dividend, no other coins give dividends for holding coins.

exactly... we must cut them slack and spread the word... the more people into this coin the more dividends

Cut them some slack?

The website at http://www.dolphincoin.org/  still states "In order to assure the development of DOLP in its early stage, the dev team will distribute 0.1 BTC dividend on DOLP launch day. And 0.1 BTC will be added each day until it reaches at least 1 BTC. From then on, the distribution of at least 1 BTC dividend per day will be kept for 100 days. After that the amount of dividend depends on the real profits of projects." That is utter and complete false advertising as far as I am concerned. Some people are not on these forums and obviously do not know that the distribution rules have changed. People go to the web site, see that there is supposed to be 1 BTC/day distributed. It piques their interest, and they go buy some DOLP on the exchange, all excited to get in on this coin that must be pretty great and have a good team behind it if they are willing to invest 100 BTC into it. Then they find out that the dividends are typically less than 5% of what is stated on the web site, and get rightfully pissed because when you compare what was promised to the reality, it's really hard not to consider this coin a fraudulent scam. The dev team (yes, apparently there's a whole team) can't be bothered to take 10 minutes and update their website with accurate information, which would seem to indicate a desire to intentionally misinform and deceive the people that they supposedly want to support their coin.

But "we must cut them slack and spread the word"? Yeah, ok... I'll get right on that.  ( <---- That's sarcasm by the way, just in case any of you didn't catch that)

dude i have recieved 0.0075 btc from dividends alone... if you are not happy.... then leave... no one cares about your sarcasm... yes cut them slack its out of their pocket... as i said gtfo of this coin if you feel scammed or ripped off.... dont cry and winge like a baby... which is what you are doing

You are completely missing the point. The very simple point I am trying to make here is that information concerning distribution and dividends varies depending on if you are on the multipool site, these forums, or the dolphincoin website. It leads to misinformation and confusion, which is bad for the coin, and yet it has been that way for over a month. What I'm trying to suggest is that the dev team take a few minutes and synchronize all the information at all sources so it all matches, is correct, and is therefore useful.

i think you clarified your point better in this post

[MessyCoin]

The website at http://www.dolphincoin.org/  still states "In order to assure the development of DOLP in its early stage, the dev team will distribute 0.1 BTC dividend on DOLP launch day. And 0.1 BTC will be added each day until it reaches at least 1 BTC. From then on, the distribution of at least 1 BTC dividend per day will be kept for 100 days. After that the amount of dividend depends on the real profits of projects."

I see this statement is still on the site. Clearly this has not been true, so urge the devs to update this information.

I like the Dolphincoin concept. The coin could do well, if the information they give matched the reality. Otherwise people may become increasingly wary of investing.

EDIT 5th/8/2014 Looks like the site has been amended with more accurate details now, at least. It now says:

In order to assure the development of DOLP in its early stage, the dev team will distribute at least 0.1 BTC dividend from June 10th. From June 26th, the amount of dividend depends on the real profits of our projects. We will distribute 80% of the profits as BTC dividend and save 20% as operating cost.

The distribution policy will not change until the total amount of distributed DOLP on Multipool reaches 3B. After that the 98% of daily profit of Multipool will be used to buy DOLP from the market and distributed to miners. 1% of daily profit will be distributed as BTC dividend. 1% of daily profit will be saved for operating cost. If we have other projects making profits, we will surely add part of the profits to the BTC dividend then.

[doctormandrake]

4B for project initiators？ 4B he always keep? or give others

This I am quite curious on. A system for projects and funding/repayment would be nice, something clearcut and transparent ideally.

[doctormandrake]

The website at http://www.dolphincoin.org/  still states "In order to assure the development of DOLP in its early stage, the dev team will distribute 0.1 BTC dividend on DOLP launch day. And 0.1 BTC will be added each day until it reaches at least 1 BTC. From then on, the distribution of at least 1 BTC dividend per day will be kept for 100 days. After that the amount of dividend depends on the real profits of projects."

I see this statement is still on the site. Clearly this has not been true, so urge the devs to update this information.

I like the Dolphincoin concept. The coin could do well, if the information they give matched the reality. Otherwise people may become increasingly wary of investing.

I agree, this should be consistent with the current distribution model. Otherwise it is misleading.

[HashFarmer]

The website at http://www.dolphincoin.org/  still states "In order to assure the development of DOLP in its early stage, the dev team will distribute 0.1 BTC dividend on DOLP launch day. And 0.1 BTC will be added each day until it reaches at least 1 BTC. From then on, the distribution of at least 1 BTC dividend per day will be kept for 100 days. After that the amount of dividend depends on the real profits of projects."

I see this statement is still on the site. Clearly this has not been true, so urge the devs to update this information.

I like the Dolphincoin concept. The coin could do well, if the information they give matched the reality. Otherwise people may become increasingly wary of investing.

I agree, this should be consistent with the current distribution model. Otherwise it is misleading.

Agree, its misleading...

[dongchi]

This coin dead?