[ANN] QIBUCK COIN - X13 - POS/POBH - 1st Proof of Baghold and asset backed.

[poornamelessme]

Is it just me or are you people not together with your shit?? I mean don't get me wrong, I'm rooting for this coin as I invested a fair amount but now you guys are talking about changing the plans???
This is an asset backed coin, so I don't give a flip what features the coin has. Anon doesn't matter, neither does merchant adoption. You guys should be working get une the coin done and finalized so you can start 8 vesting these funds and giving dividends to your investors. Please stop talking about changing everything, stick to your plan, and stop wasting time and money on useless features, and merchant adoption. Like SYNC right??? Right.

There was only talk of possibly changing how the pools would work. If you read back as to why they should change them, you'd probably agree that it'd be a good idea. If left like they are, it'll require every single investor to verify their identity using skype + provide a mailing address.  If changed, no verification would be needed due to no reason for anyone to cheat. Payments could possibly be sent via card, btc wallet or in QBK. Payouts probably won't differ a whole lot with either pool method, just that the latter simplifies things a great deal.

As for wasting time and money on  features and merchant adoption, no idea what you are even talking about. I haven't exactly seen much, if any, discussion or activity regarding those things yet.

[BBmodBB]

[Bitcoin_Mafia_Me]

^the quickbucks party is over folks!!! 

Isn't it time for you to get back to your Dungeons and Dragons party?

HEY! That is an insult to gamers everywhere! I'll have you know that I MET my husband at a D&D
game we were both playing in. Our characters hooked up before we ever did - that's how much of
a geek I am

riiight ... ^these characters are all too funny 

I took this picture just for you... I even wrote you a little love note

[BBmodBB]

^the quickbucks party is over folks!!! 

Isn't it time for you to get back to your Dungeons and Dragons party?

HEY! That is an insult to gamers everywhere! I'll have you know that I MET my husband at a D&D
game we were both playing in. Our characters hooked up before we ever did - that's how much of
a geek I am

riiight ... ^these characters are all too funny 

I took this picture just for you... I even wrote you a little love note

   ok well isn't that something ... lol

[Bitcoin_Mafia_Me]

  ok well isn't that something ... lol

Well... you seemed to be calling into question whether I was being truthful, so...

[BBmodBB]

  ok well isn't that something ... lol

Well... you seemed to be calling into question whether I was being truthful, so...

i'm still a bit puzzled to say the least !    we will see the results of this soon enough...zzz

[naidledoes]

Is it just me or are you people not together with your shit?? I mean don't get me wrong, I'm rooting for this coin as I invested a fair amount but now you guys are talking about changing the plans???
This is an asset backed coin, so I don't give a flip what features the coin has. Anon doesn't matter, neither does merchant adoption. You guys should be working to get the coin done and finalized so you can start 8 vesting these funds and giving dividends to your investors. Please stop talking about changing everything, stick to your plan, and stop wasting time and money on useless features, and merchant adoption. Like SYNC right??? Right.

There was only talk of possibly changing how the pools would work. If you read back as to why they should change them, you'd probably agree that it'd be a good idea. If left like they are, it'll require every single investor to verify their identity using skype + provide a mailing address.  If changed, no verification would be needed due to no reason for anyone to cheat. Payments could possibly be sent via card, btc wallet or in QBK. Payouts probably won't differ a whole lot with either pool method, just that the latter simplifies things a great deal.

As for wasting time and money on  features and merchant adoption, no idea what you are even talking about. I haven't exactly seen much, if any, discussion or activity regarding those things yet.

Well, right.  It's funny that they are having to change things up regardless. And on top of that is the wallet even working yet?? Just seems rushed. I want this coin to succeed, but I don't know that it will because of how disorganized the team seems to be. And the anon feature, don't even me get started at how much bs that is. And merchant adoption... it's in the poll and ann... waste of time and money. Please get your shit worked out... if you don't this will be the worst investment of mine to date...
Concentrate on the assets. Grow the assets. Am I wrong that this should be priority numerous uno???

[poornamelessme]

Concentrate on the assets. Grow the assets. Am I wrong that this should be priority numerous uno???

I expect it will be, but it won't happen overnight. I am not sure they even have access to the ICO funds yet (remember Polo needs to give them out, all purchases go on a ledger and so on).

And even after they obtain more assets, whatever they earn from them will take a bit of time too. So it's not like tomorrow they buy up <something> and three days later they have a ton of btc to spread about to everyone. It's like a dividend ... they sort of need the money to buy the stock before they can even give out the dividend.

I like the idea of them using some of the ICO money on coin features though. I mean, in the end, this thing is supposed to be a currency of some sort. Otherwise folks should have just invested in mining contracts or a mutual fund.

[wonderloops]

Thank god this coin is 'proof of baghold'..

[primera]

Massive Drop on Exchange...

[david1365]

WTF with price huge drop on poloniex
What's wrong ?

[jc12345]

I considered QBK long and hard but then decided against it for the following reasons:

How things will probably go based on alt-coin history so far:
1. Roadmap mentions merchant adoption which is what every coin so far tried to achieve. Even BTC is struggling with that and merchant adoption to create demand will take many months/years to achieve. After QBK there will be many other coins launched with the same goal. Apart from possible benefits from the u-ci plans I could not see any plausible real life use for QBK that will create demand and this is long term.
2. ICO is a no-no. All ICO coins so far have failed. How will the ICO host in anyways really know what the withdrawals are used for? Apologies if I am skeptic. If you want a coin to succeed you need to have enough real life funding to do it and have a company capitalised with enough funds so that you do not need investor funds to do it. Having said this there are exceptions though like Kickstarter where something tangible or useful have been created but with specific characteristics. In RL using investor funds in companies are regulated and needs to comply with certain criteria and conditions - including venture capital companies.
3. 20k sats ICO. Really??
4. All coins except for a few follow the same price and volume graphs - Initial pump up and after the first rise a dump and gradual decline over a number of weeks/months to eventual low price and low volume followed by a de-listing. What will make QBK different?
5. At the initial pump the ICO purchasers will dump at their respective risk thresholds - some at 5% some at 10-20%%, some will try their luck for 50% and when the bell rings big dumping back to 20k or lower.
6. 95%+ of crypto people are just there for the quick profits. Very few are in it for the long term. The ratio for ICO purchasers will probably be the same, meaning that after the initial dump there will be no interest left and they will move on to the next coin launch.
7. After the initial dump there will be bag holders that at least will earn BTC. BUT unless you have a plan to fund that for at least 1 year, you will run out of funds to pay the BTC.
8. There will be daily moaning on the ANN thread about when is the next innovation, what is going on FUDding will be rife in the backdrop of pice and volume decrease. The downward trend will continue unless you can find another way of creating demand and keeping people interested. However unless there is something big that creates a lot of volatility the initial profit takers will not return and you will have to work with the remaining bagholders to achieve your objectives. The key will be to keep interest, momentum and demand until you can achieve something with merchant adoption or u-ci.
9. POS coins have a dismal track record so far.

On the plus side:
1. If you are as dynamic as you say you are and if want QBK to be successful you need to address the above points. All coins except maybe one or two have failed to achieve that.
2. Women rights is a hot topic currently. So if people are into that then support something run by women.
3. Accounts mentioned to be involved are at least not raw newbie accounts.

The above sounds skeptical but 20k is too high in my view for an ICO. Maybe there is some BTC to make on the first rise. Hopefully you can prove me wrong.

It is because 95% of people in crypto are after the quick profits. They don't care about monthly dividends or long term plans. They are in it for the quick rise and sell at the top. In this case there was not even a rise so they just cut their losses and move on. The monthly dividends in the case of QBK will have to beat the opportunity cost of the investment as well as the investors cost of capital. With opportunity cost I mean the money that the investment could have made had it been invested elsewhere for the same period instead of being tied up in QBK for a month until dividends are received and with cost of capital I mean what it is costing the investor to put the money into the investment e.g. if he borrowed the money together with his risk appetite. In the case of crypto the opportunity cost of one month is the profits of pump and dumping new coins over and over for a month which can be significant. Taking a loss by quickly selling something that did not immediately rise is ok for those investors because the opportunity cost of those investment as explained will make up for the losses and still leave them in a profit situation by the end of the month. It will be the bag holders that lose at the end of the month. This explains why some of the investors stepped out quickly again. Unfortunately if 95% of the investors expect a rise, the opposite will happen, unless there is a benefactor investor that will take one for the team and start a pump.

In the absence of a pump the value has to rely on the long term plans which will take some time to materialise. In the meantime there will be very little to support the value, unless the dividends are significant enough and in excess of the opportunity cost as explained above. That is why I say that the company had to be very well capitalised before starting this to fund the returns until the long term services income can kick in. The other option is to use the investor ICO funds to pay for the returns but that will be cannibalising the fund and not sustainable which is very ponzi like and will not go down well all round and is also illegal in RL.

Looking at it from another angle, assuming the price remains constant in the absence of value drivers other than hype and dividends, if you want a positive NPV you have to take the 20k sat outlay in year0 and match that with the monthly dividends over the investor's cost of capital. Cryptoworld carries a lot of risk and therefore cost of capital will be high. So either the dividends have to be high or the 20k sats initial outlay had to be lowered. Alternatively, find a magic bullet that will increase the price other than the dividends and hype and there will be a recovery later on that could push the NPV positive.

WTF with price huge drop on poloniex
What's wrong ?

This. As posted earlier in the thread. The devs need to pull a rabbit out of a hat to turn it around which they have to address asap. For the sake of the investors I hope they do and prove everyone wrong and protect the investors' money. This is exactly why ICO/IPO in RL are protected by regulation and all sorts of hoops that a company has to jump through.

[Mineotaur]

What's this about bagholders needing Skype verification? CBF to read 15 pages, but I might set a buy for 100, on condition that that's the extent of my involvement. Is there more faffing around still necessary in order that I receive a cut? Hope this isn't gonna end up too scattered and confusing.

[akula999]

Well this was a sham and loss in BTC. I will have to now investigate, especially their assets. People will want their money back. I'm guessing Swiftbiz and the rest of this bunch will now hide.

[Bitcoin_Mafia_Me]

Well this was a sham and loss in BTC. I will have to now investigate, especially their assets. People will want their money back. I'm guessing Swiftbiz and the rest of this bunch will now hide.

Nobody is hiding anywhere. We hit some major stumbling blocks right out of the gate, that's true. We're working
with our dev and with busoni to right things.

[bloodyboy]

Looking at prices and market depth it is catastrophe for QBK... even LCL last longer above initial price...

[amadeuscrypto]

Dev team need to wall up to the IPO price, this is embarrassing..

[qiwoman2]

Wallet situation will be fixed in a few hours.

[amadeuscrypto]

Also; mac wallet was promised on launch day, still not here...

[Bfljosh]

This coin is just hyped up bullshit made to make the "team" rich.

A coin without mining is like a soccermatch without a ball.

Bring on the popcorn!