[ANN][KiB] Kibweecoin | Proof-of-Contribution | Under rework

[Kib]

Added the KibweeCoin monetary symbol on the OP:

Ꝅ

Unicode number: U+A744
HTML-code: Ꝅ

And I have a great new for all of us !

Allcoin.com
accept to add the Kibweecoin on the exchange right after the official launch !
We can thanks James for this offer

[atleticofa]

PM sent 

[Kib]

1 hour and 40 minutes left for the Pre-launch subscription !

Details here: https://bitcointalk.org/index.php?topic=642933.msg7228425#msg7228425

[Kib]

Pre-launch subscriptions are over !

I'll pick-up randomly 10 of you soon. Stay tuned !

I have 58 subscribers. The dices will decide ! Good luck

[rayday11]

The POC sounds interesting. I will probably mine this.

[bitcoin_newbie]

Common dice, roll my way Waiting eagerly for the results. Any ETA?

[chapson]

goodjob

[mjsrs]

so, miners will have to dump kib to buy shares?

[bitcoin_newbie]

Trying to understand the maths & PoC concept again.

Lets say I own 100 shares. So value of my shares now before PoC starts = 0.01 BTC. Assuming I am a contributor always, everyday, I will be losing 0.0024 BTC. So by beginning of day 5, I would have lost all my 100 shares. Now at this point, how many shares will I have gained?

Also what does it mean by losing a share? Who takes it from me?

[niothor]

I find this PoC quite interesting but unfortunately its' dependant on PoW based on your description and it is just a let's called it "socialist" PoS.

So you can't really claim it is a new algo , more an improved version.

But still an improvement from the copy paste coins that flood the market.

Keeping an eye on it.

Have you done any tests for it via a testnet?

[Kib]

Common dice, roll my way Waiting eagerly for the results. Any ETA?

I'll start to send private messages to the winners in about 1 hour, when all messages are sent I'll tell it here. If you don't receive any message it mean you can't claim the free Shares.

so, miners will have to dump kib to buy shares?

No, anyone can get Shares.

Trying to understand the maths & PoC concept again.

Lets say I own 100 shares. So value of my shares now before PoC starts = 0.01 BTC. Assuming I am a contributor always, everyday, I will be losing 0.0024 BTC. So by beginning of day 5, I would have lost all my 100 shares. Now at this point, how many shares will I have gained?

Also what does it mean by losing a share? Who takes it from me?

Not sure to understand the question, tell me if my reply isn't well !

You are losing Shares only if you are Active. If your contribution is turned off, you don't lose any Share.
Nobody taking your Shares, they are just disappearing from the system.

The "Share dump" mechanics is a fact to stabilize the market and also to keep the PoC fair compared to the PoW. We can compare Shares for the Contributors with Electricity/Hardware for the Miners.
Every Roll, every Active Contributors losing 1 Share. The more Active Contributors we have, the higher is the dump.

I made a small scheme to explain this. It's a very very simplified example just to understand why Shares are dumping to stabilize the market. With this scheme you can change the Shares for the Hashrate to compare with mining.

https://i.imgur.com/fjk2jMv.png

TL;DR
1. You don't lose Shares if you turn off the Contribution
2. The Share dump is to keep an equilibrium between the PoW and PoC
3. The Share dump is also to stabilize the market

I find this PoC quite interesting but unfortunately its' dependant on PoW based on your description and it is just a let's called it "socialist" PoS.

So you can't really claim it is a new algo , more an improved version.

But still an improvement from the copy paste coins that flood the market.

Keeping an eye on it.

Have you done any tests for it via a testnet?

I would say it's the "socialist" PoW, and not "socialist" PoS Yes indeed it is.
It's also indeed not a new Algo.
Algos can't solve the issue I'm trying to fix with the Altcoins: allowing "mining" for all. CPU miners tried but failed because of bots. Game mining too. A good bot will always own an human.

[niothor]

Algos can't solve the issue I'm trying to fix with the Altcoins: allowing "mining" for all

Don't bother...there is no solution and there is no such thing as a fair distribution.

No matter what algo or way of mining , it won't help a guy that has no computer or that didn't heard of your coin until it's too late and he won't get the same share as the first adopters

Coins are not meant to be a re-distribution of wealth.

Better focus of usage and ease of use.

[Vitalogy]

Sorry if I missed the answer to my question but what will you do with the BTC collected from people who buy shares? Pure profit for you?

May I suggest that you take those bitcoins to buy Kibweecoins in the market? Then add the KiB to the PoC reward. If you do that it will put a buy pressure in the exchange, keeping the price higher (like multipools do for many PoS coins). Also it will increase the reward, an incentive to purchase shares.

[scorpio18]

http://kib.coin-miners.info/ - Pre-registration opened!

1% Pool fee / PROP payout system

Stratum with vardiff.
Stable SSD Server, DDOS protection.
Cashout are processed every minute.
Support at #COINMINERS freenode channel : https://webchat.freenode.net/?channels=#COINMINERS
STRATUM: stratum+tcp://kib.coin-miners.info
PORT: 3340
Username: Weblogin.Worker
Password: Worker Password
Join! Pre-registration open!

Configure your Miner:

GPU Miner:

Code:

./sgminer --kernel darkcoin -o stratum+tcp://kib.coin-miners.info:3340 -u Weblogin.WorkerName -p WorkerPassword

CPU Miner:

Code:

./minerd -a X11 -o stratum+tcp://kib.coin-miners.info:3340 -u Weblogin.WorkerName -p WorkerPassword

[Kib]

Update the OP:

• Added Greek translation: https://bitcointalk.org/index.php?topic=648416
• Added Pool: http://kib.coin-miners.info/

Sorry if I missed the answer to my question but what will you do with the BTC collected from people who buy shares? Pure profit for you?

May I suggest that you take those bitcoins to buy Kibweecoins in the market? Then add the KiB to the PoC reward. If you do that it will put a buy pressure in the exchange, keeping the price higher (like multipools do for many PoS coins). Also it will increase the reward, an incentive to purchase shares.

We are writing the paper and thinking of the future plans for KiB.
At the moment we minding to split the earned BTC in 3 parts:

• Refund us for the PoC Server cost
• Fund some project/devs working for the Kibweecoin
• A part will be used to, as you said, pump the coin

The paper will expose our projects, you'll have more details and numbers on it. We have no dates yet for this paper release, but during this time we have up to hear the community suggestions ! I think we can pick-up great ideas here.

[bitcoin_newbie]

Common dice, roll my way Waiting eagerly for the results. Any ETA?

I'll start to send private messages to the winners in about 1 hour, when all messages are sent I'll tell it here. If you don't receive any message it mean you can't claim the free Shares.

so, miners will have to dump kib to buy shares?

No, anyone can get Shares.

Trying to understand the maths & PoC concept again.

Lets say I own 100 shares. So value of my shares now before PoC starts = 0.01 BTC. Assuming I am a contributor always, everyday, I will be losing 0.0024 BTC. So by beginning of day 5, I would have lost all my 100 shares. Now at this point, how many shares will I have gained?

Also what does it mean by losing a share? Who takes it from me?

Not sure to understand the question, tell me if my reply isn't well !

You are losing Shares only if you are Active. If your contribution is turned off, you don't lose any Share.
Nobody taking your Shares, they are just disappearing from the system.

The "Share dump" mechanics is a fact to stabilize the market and also to keep the PoC fair compared to the PoW. We can compare Shares for the Contributors with Electricity/Hardware for the Miners.
Every Roll, every Active Contributors losing 1 Share. The more Active Contributors we have, the higher is the dump.

I made a small scheme to explain this. It's a very very simplified example just to understand why Shares are dumping to stabilize the market. With this scheme you can change the Shares for the Hashrate to compare with mining.



TL;DR
1. You don't lose Shares if you turn off the Contribution
2. The Share dump is to keep an equilibrium between the PoW and PoC
3. The Share dump is also to stabilize the market

I find this PoC quite interesting but unfortunately its' dependant on PoW based on your description and it is just a let's called it "socialist" PoS.

So you can't really claim it is a new algo , more an improved version.

But still an improvement from the copy paste coins that flood the market.

Keeping an eye on it.

Have you done any tests for it via a testnet?

I would say it's the "socialist" PoW, and not "socialist" PoS Yes indeed it is.
It's also indeed not a new Algo.
Algos can't solve the issue I'm trying to fix with the Altcoins: allowing "mining" for all. CPU miners tried but failed because of bots. Game mining too. A good bot will always own an human.

Thanks for the illustration Kib. I think I understand. From a layman's perspective, on an average, just wanted to know if I will win or lose if I am continuously,  actively and always contributing?

[Kib]

The dices decided the winners for the pre-launch Shares giveaway !

If you didn't received any Private Messages... I'm sorry you didn't won

I hope you'll be part anyway of the project !

[Real_Unhooked]

Interesting but please use a better name. If you want the coin to be mass adopted keep it simple.

[Kib]

Thanks for the illustration Kib. I think I understand. From a layman's perspective, on an average, just wanted to know if I will win or lose if I am continuously,  actively and always contributing?

It's hard to predict.
I think if you're 100% continuous, you'll make less. You may have to stop the Contribution on bad periods.

Like a miner mining a Coin, if he want to max the profit, he will have to leave it on non profitable period, then come back when it start to be profitable again.

[ZyTReX]

A question: What are future projekts for this coin? After 8 months is POW/POC down, the revolution (POC) is down.