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cameronpalte (OP)
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June 17, 2014, 04:00:04 AM |
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Hello everyone,
Welcome to the official Quantum IPO - opening at 9 p.m. Pacific Standard Time. During this IPO we are offering 2,250,000 coins (0.225%) for a total of 15 Bitcoins - that is 150,000 coins/Bitcoin in order to cover the development costs of the currency. The IPO will be fully escrowed! Here is some information about Quantum - the IPO investors information is at the end.
Coin Specifications
Quantum will have a total of 1 billion coins that will be produced. Out of these 1 billion coins a total of 5 million coins (0.5%) will be premined. All of the investor's coins will come from this premine. The premined coins will be used to cover all the marketing and development costs.
The coin will have a 1 minute block time, with each normal block containing a total of 10 coins. In addition to this, there will be two super blocks one at noon and one and midnight. One of these blocks will be split across the people who do folding at home and the other for people who do Boinc. Each of these 'super blocks' will contain 28,800 coins. You will receive these coins as a percentage of the total work you do for a given day compared to the teams total work.
Formula for superblock payout. (points earned) / (total teams points for day) * 28,800
None of the coins from the super blocks will go the mining portion of the coins -That means in total 72,000 coins will be released on a daily basis.
The mining of the coin will be a new algorithm that comes from a combination of three existing algorithms. The way it will work is 20% of all mining will be using the X11 algorithm to help secure the network and do transactions. 40% of all mining will be using Folding at Home to fold proteins and 40% of the mining will be for BOINC. Everyone's GPU will be doing all three things at the appropriate percentages. The pool(s) will give the coins for the X11 work with each block and then the Folding and BOINC coins will be paid when the superblocks come out.
Interest / Proof of Stake System
The coin will have a system that pays you a yearly interest of 2.5% on your existing balance for all coins over 30 days old. Your payment will be calculated in with each block which means that you will receive a little bit of interest each block. There will be no transaction fees on the interest that you receive with each block.
Anonymity
These days, remaining anonymous is a goal for many people with digital currency. This coin will have a fully featured anonymity option built in to the wallet similar to Dark Send. The denomination for sending the coins with the anonymity feature will be in groups of 1000 coins. People will denominate how they want their coins to be spent and the 5 people’s groups of 1000 coins that they send will be received and then split accordingly. However, no one will know if the payment to person 5 came from the 1000 coins of person A or the 1000 coins of person D. Once you send this coin, the server will wait until 5 people have sent this many coins using the anonymity feature before sending out all the coins. There will also be different denominations available upon release i.e. groups of 100 coins, 1000 coins, and 10,000 coins.
The way this when you send coins from the wallet there will be a box you can check to say if you want to have the anonymity feature enabled or not. If you choose to say yes then it will check the amount of coins that you are sending. If the amount of coins you are sending is equal to 1000 then it will send the coins for you to an intermediate party which will split this up accordingly. How it works will be similar to Dark Send. The fees for sending coins this way will double.
The coin will also come with an fully encrypted messaging system where you can send messages from one wallet address to another. That way in some sense your wallet address become emails. This feature could also be useful for attaching messages when you send coins.
Multiple Addresses
The coin will also come with a multiple addresses feature. What this is is if you want to giveaway say 10 coins to 20 different people rather than making 20 separate transactions there will be an option to copy and paste all the addresses, separating them with a comma and send them all out as one transaction box in the wallet.
Why Merge all the mining?
As I'm sure some of you have noticed some recently released science currencies allow you to choose to either do folding/boinc or to choose to do mining. Some of you may be wondering why I chose to merge them. The reason for this is because if you split your coins say 25% mining and 75% science and you can choose to do either, this makes the mining difficulty lower since some people that could be doing mining are doing science instead. This makes it much more efficient for splitting up the work load and keeps the network hashrate from being very low opening it up to a 51% attack. It also offers advantages in Asic Resitance.
Why Boinc & Folding at Home
Boinc and folding & home both offer some very unique projects. By offering both on top of keeping either one from being overwhelmed by receiving 80% of the hashing power, it also gives you the opportunity to instead of putting 80% of the hashing into protein folding you could put 40% into folding and 40% into searching for extraterrestrial life with seti@home or any one of the 10s of projects offered.
Asic Resistance
Another great feature the mining of the coin this way is Asic Resistance. What that means is let's say in 2 years Asics come out for X11. Those Asics will not work on this coin even though X11 is the algorithm used to secure the block chain. Instead a Asic would need to be made specifically for this coin and it would offer a much worse advantage over normal GPU mining because it would have to be designed to do protein folding, boinc projects (such as weather simulations) and work on the X11 algorithm
The IPO
The IPO will be fully escrowed by Bitcointalk Hero Member: gweedo. As I’m sure you guys have heard several other coins have recently been involved in scams relating to the IPO because the creator gets all of the coins originally which allows him to walk away with them. In order to keep this from happening, we are using escrow which will result in your coins being slowly released.
In order to invest you must buy coins in batches of 1500 that is an investment of at least 0.01 Bitcoins. You can buy as many batches as you want, however, you can not buy a portion of a batch. This is to make payouts easier - all payouts will be done will be done within the first few weeks of the coin’s release.
In order to invest please send Bitcoins to this address: 1EM2v59cabRg4i22Fue9N5UCtEYBwPXm1g which is held by gweedo. The conditions for how we are allowed to use any funds that we get will appear later in this post. When you invest you need to sign a message containing the transaction ID and a refund address so if necessary gweedo can send you back your coins. Gweedo will also be around on this thread to answer questions. Please also make sure you send all the coins from an address you fully control in a single payment.
Rules of Escrow
The following rules listed here are the rules for escrow which will be followed by gweedo in order to allow for the development / marketing for the coin in a way that keeps your coins as secure as possible.
The minimum amount needed to develop the coin in a reasonable time frame is 10 Bitcoins. Should we not be able to raise at least this amount within 30 days the money will be returned to investors.
Should the price of Bitcoin be below $475 (and stay there for more than 24 hours) at the end of the IPO then all money will be returned to investors.
When the necessary amount has been collected the restrictions on usage will be as follows.
-Only 0.50 Bitcoins can be asked for at a time. Once that amount has been received it has to be used before any more Bitcoins can be requested. Once the amount is used a post must be made on the forums / developer blog detailing exactly what that amount went to.
-Once 10 Bitcoins have been used and detailed than the amount that can be asked for at a time increases to 1.00 Bitcoins for the last 5 Bitcoins.
Usage
Below is what we will accomplish with the Bitcoins.
-Logo
-Official Website
-Developer's Blog
-Forum & Theme
-Reaching out to Boinc & Folding for possible partnerships
-White Paper
-Social media accounts
-Testing
-Extra
-Fully functioning pool with closed testing with another currency.
-Wallet Development
-Design
-Expanding DEV team.
What will the coin have upon release?
-Fully functional pool.
-Handwritten guides.
-Explanational and promotional videos.
-Actively maintained social media accounts.
-Standby for help setting up.
-Fully functioning & tested wallet for Linux, Windows, and Mac.
-Wallet for Android
-Anonymity features build in.
-Choice of what research to support.
-Gambling websites.
-Faucet.
-Marketplace website.
-Foundation similar to Bitcoin foundation.
-Exchange for trading to Bitcoin and one soon after for trading to USD.
That’s all,
Look forward to having you guys invest - PM me or post any questions you may have. Gweedo, our agent for escrow will be posting his details below and use this thread as a confirmation for all transactions!
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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mazuma
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June 17, 2014, 04:04:42 AM |
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stop your fucking bullshit. just say its a fucking bullshit coin, your intentions are short lived, you aint curing shit with a stupid coin, what do you think alt coins are a solution now to all problems this world faces. Fuck out here u waste bitch.
once again a big FUCK YOU but.....
Interesting .. will mine
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cameronpalte (OP)
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June 17, 2014, 04:09:02 AM |
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-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 I am running the escrow for this IPO. 1) Send the amount you want to invest into Quantum to this address 1EM2v59cabRg4i22Fue9N5UCtEYBwPXm1g 2) Then using one of the addresses from your input transactions, you will sign both the transaction id and a refund address that bitcoins can be sent back too. 3) Post the Address you signed with, message and signature in this thread. This is the only way your shares will be counted. -----BEGIN PGP SIGNATURE----- Comment: GPGTools - http://gpgtools.orgiQEcBAEBAgAGBQJTn75UAAoJEIbvp82qFumjnYUIALdcTPncCpE8Ce87AKOsEYCE TUGg5wVCtpP9P2vU2kN1kU78IFie5wAT+J0/dc/NmYCjvjg9hqzIlPxKIQ1ydeae xDipC6UGMZpt9aAOk+t146dfwQm3fRm8cLijpAKWYldJ/5QjJBV2pPR7tY0ZXuD7 U+Tv+tvl6JJwK04VZ1CThO83fdkBJK5ilsE13joWjCQOW7HAW8/WVTLWVow5I2J3 zAfDLaQtyWs+pLFVrH3HgURd8LoPeqVOAOe/TbcNZintzjUWz+fWvWldb75wvc7d CBu10sVkBr5eIrxErJoKRFxk4Sxtinvb7iODjNZpXzo1WPBdpWS4K+O4z5pq1so= =hK62 -----END PGP SIGNATURE----- Someone quote for proof. Quoted - thanks! |
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rayday11
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June 17, 2014, 04:10:44 AM |
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So a crytocoin, with a large premine, is going to cure cancer?
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cameronpalte (OP)
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June 17, 2014, 04:16:18 AM |
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So a crytocoin, with a large premine, is going to cure cancer?
I fail to see how 0.5% is a large premine. More so, it will work towards curing cancer by folding proteins for Stanford's Folding @ Home project or some of the projects available on Boinc. While there is most definitely no guarantee it will cure cancer, it will definitely be working towards a cure. |
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cameronpalte (OP)
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June 17, 2014, 04:36:23 AM |
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Yes I already know about this and have spoken to the owner of that currency. We decided no to change our name because all of the domains we wanted were available. The main location we see for potential issues are our ticker but since that coin is only on Bittrex and dying we doubt the ticker (QTM) will become an issue. If it does we will change it. |
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tonyk
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June 17, 2014, 04:41:50 AM |
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I like Quantum IPO better than the average IPO.
Watching for developments….
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IMJim
Legendary
 Offline
Activity: 1260
Merit: 1000
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June 17, 2014, 04:42:38 AM |
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Sorry if I missed this, I looked twice.........when is this officially launching?
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tonyk
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June 17, 2014, 04:47:00 AM |
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So a crytocoin, with a large premine, is going to cure cancer?
How is 0.5% a large premine? |
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crimealone
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June 17, 2014, 05:00:06 AM |
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txid: 71ecaeb51d016f9284823893b6b1ca44b768ebdf0980be7de4b2cc5d904ec86a
Refund address : 1tVVgyXDkqSwZFUqEYV7NNmzxQA7dbnD2
Btt id: crimealone
Signature:
G7kht8RhwaTZ8LeIrTvzwU0MwPiQCB7mW16yYXtdBvmYFd1nFzVacgkglIE+OCHDRECFOfRDBJaFf0YYJmU70qA=
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gweedo
Legendary
Offline
Activity: 1498
Merit: 1000
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June 17, 2014, 05:11:41 AM |
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txid: 71ecaeb51d016f9284823893b6b1ca44b768ebdf0980be7de4b2cc5d904ec86a
Refund address : 1tVVgyXDkqSwZFUqEYV7NNmzxQA7dbnD2
Btt id: crimealone
Signature:
G7kht8RhwaTZ8LeIrTvzwU0MwPiQCB7mW16yYXtdBvmYFd1nFzVacgkglIE+OCHDRECFOfRDBJaFf0YYJmU70qA=
Quoting for proof and verified. |
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cameronpalte (OP)
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June 17, 2014, 05:14:55 AM |
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Sorry if I missed this, I looked twice.........when is this officially launching?
There is no exact date for the official launch. |
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cameronpalte (OP)
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June 17, 2014, 05:26:49 AM |
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Yes I already know about this and have spoken to the owner of that currency. We decided no to change our name because all of the domains we wanted were available. The main location we see for potential issues are our ticker but since that coin is only on Bittrex and dying we doubt the ticker (QTM) will become an issue. If it does we will change it. Your evidence for calling the coin a scam coin is? |
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IMJim
Legendary
Offline
Activity: 1260
Merit: 1000
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June 17, 2014, 05:45:07 AM |
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It's the crypto currency launch bug.........guilty until proven innocent:-)
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bitwho
Legendary
Offline
Activity: 1274
Merit: 1000
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June 17, 2014, 05:56:00 AM |
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It's the crypto currency launch bug.........guilty until proven innocent:-)
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cameronpalte (OP)
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June 17, 2014, 06:08:51 AM |
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It's the crypto currency launch bug.........guilty until proven innocent:-)
Fair point - that is why we are using an escrow system to try and make it more fair. Though I understand there will always be claims of a scam. |
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mo
Legendary
Offline
Activity: 1484
Merit: 1001
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June 17, 2014, 06:31:13 AM |
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During this IPO we are offering 2,250,000 coins (0.225%) for a total of 15 Bitcoins - that is 150,000 coins/Bitcoin
too higt
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syldh
Member
Offline
Activity: 86
Merit: 10
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June 17, 2014, 06:35:31 AM |
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watching
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MajidBC
Full Member
Offline
Activity: 182
Merit: 100
KryptKoin is one of the best!!!
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June 17, 2014, 07:27:08 AM |
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Yes I already know about this and have spoken to the owner of that currency. We decided no to change our name because all of the domains we wanted were available. The main location we see for potential issues are our ticker but since that coin is only on Bittrex and dying we doubt the ticker (QTM) will become an issue. If it does we will change it.
DO NOT WASTE YOUR TIME AND YOUR MONEY WITH THIS SHITWhat's your proof? When you accuse someone to a crime you should provide evidence. Do you know the Dev? Do you see any problem in the OP? You just shout and then run away? |
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