[ANN][AID] AidBit | Digital-currency redefined | POW/POS | Groestl | Charity

[coke15]

dev

create your own pool ,1 (ONLY) one  NO OTHER PPOL  and give fee and donation for charity?

[baby222]

what algo?  X11 X13 and X15  OK?

[AidBit]

dev

create your own pool ,1 (ONLY) one  NO OTHER PPOL  and give fee and donation for charity?

This is basically a must, due to our built-in mining control software. At launch we will have couple of own pools running. In line with the basic crypto-currency idea, we don't want to make the currency centralized, so serious pool owners will have the option to get their pools hosted in the wallet's pool list and randomly selected. More details about that coming soon...

Cheers

[eeeeek]

3% premine or 3% taken of every block, there is no real difference. Either way the devs end up with 3% of the total coinsupply ... which is huge!

Just for example look at AtheistCoin (not trying to sell you on that one, merely a good example), those devs put in a lot of time too, it is also Groestlbased and has no premine, no rewards for dev and no IPO, those devs are not trying to fill their own pockets .... also the donations for charity at AtheistCoin are on volunteer basis not a mandatory 10% of every block ... those guys are giving the right example in this land of (hidden) premines, IPOs, percentages for devs and so on... their philosophy is (and I agree with it), if your coin is good and you trust in it as a dev you don't need a premine or a percentage, just mine and trade it yourself

Don't get me wrong .. I think this coin has some very good ideas and could be a success, I really like the built-in miner (although I wonder how you are going to deal with GPU across platforms etc) and Groestl is a really nice algo ... but mandatory 13% of every block is way, way too much. Allow people to donate volunteerly and remove the 3% pocketfilling of the dev and I will mine this for sure.

[AidBit]

what algo?  X11 X13 and X15  OK?

We opted for Groestl. It is one of the most energy efficient algorithms in the market and offers really good CPU/GPU performance ratio.

[Equate]

Make it 1%  , 3 % is too much .

[DubFX]

Will you give us the address of the premine comming to? 3% is a big summ in value of a coin, also good choice of algo!

[MisO69]

Maybe dev - 1% ?

Well, we really think that 3% is quite a reasonable amount. Please don't forget that this is not a premine.

Cheers

Say what you will, we know a premine when we see it. 3% dev fee is much coin, what are your plans for future development? 10% charity? is there an escrow for that?

I also agree that your choice of algo is a good one.

[AidBit]

3% premine or 3% taken of every block, there is no real difference. Either way the devs end up with 3% of the total coinsupply ... which is huge!

Just for example look at AtheistCoin (not trying to sell you on that one, merely a good example), those devs put in a lot of time too, it is also Groestlbased and has no premine, no rewards for dev and no IPO, those devs are not trying to fill their own pockets .... also the donations for charity at AtheistCoin are on volunteer basis not a mandatory 10% of every block ... those guys are giving the right example in this land of (hidden) premines, IPOs, percentages for devs and so on... their philosophy is (and I agree with it), if your coin is good and you trust in it as a dev you don't need a premine or a percentage, just mine and trade it yourself

Don't get me wrong .. I think this coin has some very good ideas and could be a success, I really like the built-in miner (although I wonder how you are going to deal with GPU across platforms etc) and Groestl is a really nice algo ... but mandatory 13% of every block is way, way too much. Allow people to donate volunteerly and remove the 3% pocketfilling of the dev and I will mine this for sure.

Well in our opinion it makes all the difference. Premining basically any amount presents quite a risk for potential investors. But let’s not get into that. You have to understand that the design of our coin requires certain amount of infrastructure. Just for starters, we will have to invest in and maintain number of pool servers. That fact only moves us away from if you wish standard coin devs.  Not to mention charity work that will require lots of man hours. We could of course take the money from the main charity fund, as most charity organizations do, but we will do our best not to. Thank you for your support.

[sandor111]

3% premine or 3% taken of every block, there is no real difference. Either way the devs end up with 3% of the total coinsupply ... which is huge!

Just for example look at AtheistCoin (not trying to sell you on that one, merely a good example), those devs put in a lot of time too, it is also Groestlbased and has no premine, no rewards for dev and no IPO, those devs are not trying to fill their own pockets .... also the donations for charity at AtheistCoin are on volunteer basis not a mandatory 10% of every block ... those guys are giving the right example in this land of (hidden) premines, IPOs, percentages for devs and so on... their philosophy is (and I agree with it), if your coin is good and you trust in it as a dev you don't need a premine or a percentage, just mine and trade it yourself

Don't get me wrong .. I think this coin has some very good ideas and could be a success, I really like the built-in miner (although I wonder how you are going to deal with GPU across platforms etc) and Groestl is a really nice algo ... but mandatory 13% of every block is way, way too much. Allow people to donate volunteerly and remove the 3% pocketfilling of the dev and I will mine this for sure.

Well in our opinion it makes all the difference. Premining basically any amount presents quite a risk for potential investors. But let’s not get into that. You have to understand that the design of our coin requires certain amount of infrastructure. Just for starters, we will have to invest in and maintain number of pool servers. That fact only moves us away from if you wish standard coin devs.  Not to mention charity work that will require lots of man hours. We could of course take the money from the main charity fund, as most of the charity organizations do, but we will do our best not to. Thank you for your support.

I think 1% is more reasonable (but still a lot), please let the community decide what they want...

[eeeeek]

Opinions are not equal to facts .. just look at the cold hard numbers ... 3% of the coin supply is 3% of the coin supply.
Granted, you get yours over time (which is indeed less morally apprehensive then taking it all at once at the start), but either way in the end 3% is yours.

I happen to run my own pools (at 1%) for Groestl-based coins, and this is plenty to cover the operational cost. Just put a 1-2% fee on your official pool and remove the percentage of every block. I woud not just mine but would consider hosting a pool then too.

If you really think you need 3% of your entire coin supply to cover your hosting, you do show not much trust in the potential value of your own coin or you have picked the most expensive hosting company in the world

[AidBit]

Will you give us the address of the premine comming to? 3% is a big summ in value of a coin, also good choice of algo!

Of course, both charity and dev addresses will be public. Thank you.

[AidBit]

Opinions are not equal to facts .. just look at the cold hard numbers ... 3% of the coin supply is 3% of the coin supply.
Granted, you get yours over time (which is indeed less morally apprehensive then taking it all at once at the start), but either way in the end 3% is yours.

I happen to run my own pools (at 1%) for Groestl-based coins, and this is plenty to cover the operational cost. Just put a 1-2% fee on your official pool and remove the percentage of every block. I woud not just mine but would consider hosting a pool then too.

If you really think you need 3% of your entire coin supply to cover your hosting, you do show not much trust in the potential value of your own coin or you have picked the most expensive hosting company in the world

True, but you have to understand that we are not one man band. Also, our target audience are ordinary people and a reasonable amount of dev funds will go into marketing efforts, and not to mention all the support that will be required...

And one more thing regarding 10 percent charity funding. It is not in any way mandatory. The basic idea is that we offer ordinary people an option to help others... And as options go, you always have a choice...

[AidBit]

I think 1% is more reasonable (but still a lot), please let the community decide what they want...

It really depends on your point of viewing. If we would say premine 1% immediately, we would have a large sum at the beginning, enough for all the marketing costs, bounties and expenses. In our case we will have 0 on start and all the funds will have to be spent gradually, so realistically in no point in time we will own a large percentage of total coins, especially if we will "share" them with the community.

[vger888]

Say what you will, we know a premine when we see it. 3% dev fee is much coin, what are your plans for future development? 10% charity? is there an escrow for that?

I also agree that your choice of algo is a good one.

I am sorry to disappoint you, but you're wrong.  Regarding our future plans, read the first post again. Please, let's stick to basics for now. Thank you!

[AidBit]

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AidBit

[cryptonit]

the truth about the unique features of aidbit:

vger888 was team member of diamond and while he spend his time on a asia visit was still silent part of our foundation skype chat

he stole the whole idea regarding new mining reward mechanism and charity based coin

he know more of the coin concept and even if he not released exactly what charity partnership we had in mind

klemen i can tell ya i never got betrayed and my idea stolen in such a way

u teach me a lesson about how humans can be

i am hurt i trusted u

[cryptonit]

positive is he know not all details he will fail
the whole idea rise and fail with the charity aspect of the coin and how it will be realized

he can try

the world can never have to much charity

in this aspect i whish u luck aidbit

but all teammates of vger888 klemen dont trust him and watch ur back

[vger888]

OMG, guyz lets make a few facts straight. I was working my ass off for your coin. Did the design, did the block explorer, started working on brand new wallet, trying to save your ass. Spent numerous sleepless nights.  I really don't want to get on your level an start spitting on you, your incompetence and your coin. I promise I have no idea what you are talking about me stealing any of your ideas. WHAT IDEAS? You are really being paranoid here or just plain mean. Now I know I took the right decision when I left your "dev team". Good luck and please stop spreading lies.

[AidBit]

Vger888 supposedly stole your Dynamic Reward Idea? The truth is, vger wasn't the one who suggested it, but it was he who implemented it. What other your idea did he steal? Charity contribution? Really?! You really have no idea what you're talking about.