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

[qiwoman2]

Stumbled upon this thread. Now the idea is basically a fund management without the obligatory higher watermark. And still want a 20+2% of the returns. Hmm...

At least better than the new scam coins we see each day but really a way to dry up the initial investor slowly.

The 2% revenues for the Team members is for their WORK each month. I myself have left all my other work currently to work this project full time..It's called wages. 

So I guess never heard of the term higher watermark? Cause thats the only way people earn wages when working in the whole "investment" business. To clarify:
Month1 -- 10% return, so now you have 110 btc with you
Month2 -- -5% loss -- you dont get any wages or 2% here. While you still ahead by 5%

Though I have no doubt returns in cryptocurrency can be huge if done correctly but in the same vein losses can pile up easily.

and btw how do you insure against false trading to circumvent poloneix's escrow. To give an example, how will we know you wouldn't put up a cache of worthless coins from the team's kitty for say 10 btc, only to be bought by using the quibkcoin money?

What false trading? I am a bit lost here. The coins I donated myself before ICO launched was a donation from myself. Any other coins or liquid assets are purchasing are brand new like the SYSCOIN ICO form moolah and we are going to purchase just over 3 SYNCOIN form POLONIEX..POLONIEX can see our trading accounts. Other trading will be done mainly form our TOP level trader JT who is well known in the Community. He is a big whale and wouldn't need to sell his own coins to us for a few btc ICO, He is worth a lot more than our ICO funds times 10 lol.

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[poornamelessme]

and btw how do you insure against false trading to circumvent poloneix's escrow. To give an example, how will we know you wouldn't put up a cache of worthless coins from the team's kitty for say 10 btc, only to be bought by using the quibkcoin money?

I assume you are talking about something like a team member selling their stash of <generic garbage coin> at an unusually high amount, then using the ICO money to purchase it?

Basically what happened with MP and that Cloak theft semi-recently.

I believe Polo requires a public ledger, so if they do anything at all with the ICO coin, we should see it. So if anyone wants to be evil, it'd basically doom their own coin ... so would be sort of pointless to do.

[macorcina]

Stumbled upon this thread. Now the idea is basically a fund management without the obligatory higher watermark. And still want a 20+2% of the returns. Hmm...

At least better than the new scam coins we see each day but really a way to dry up the initial investor slowly.

The 2% revenues for the Team members is for their WORK each month. I myself have left all my other work currently to work this project full time..It's called wages. 

So I guess never heard of the term higher watermark? Cause thats the only way people earn wages when working in the whole "investment" business. To clarify:
Month1 -- 10% return, so now you have 110 btc with you
Month2 -- -5% loss -- you dont get any wages or 2% here. While you still ahead by 5%

Though I have no doubt returns in cryptocurrency can be huge if done correctly but in the same vein losses can pile up easily.

and btw how do you insure against false trading to circumvent poloneix's escrow. To give an example, how will we know you wouldn't put up a cache of worthless coins from the team's kitty for say 10 btc, only to be bought by using the quibkcoin money?

What false trading? I am a bit lost here. The coins I donated myself before ICO launched was a donation from myself. Any other coins or liquid assets are purchasing are brand new like the SYSCOIN ICO form moolah and we are going to purchase just over 3 SYNCOIN form POLONIEX..POLONIEX can see our trading accounts. Other trading will be done mainly form our TOP level trader JT who is well known in the Community. He is a big whale and wouldn't need to sell his own coins to us for a few btc ICO, He is worth a lot more than our ICO funds times 10 lol.

And do you envisage BTC for buy support ?

[silverkinguk]

Macorcina,please wait till we are able to confirm when new Linux wallet is ready.

[qiwoman2]

Stumbled upon this thread. Now the idea is basically a fund management without the obligatory higher watermark. And still want a 20+2% of the returns. Hmm...

At least better than the new scam coins we see each day but really a way to dry up the initial investor slowly.

The 2% revenues for the Team members is for their WORK each month. I myself have left all my other work currently to work this project full time..It's called wages.  

So I guess never heard of the term higher watermark? Cause thats the only way people earn wages when working in the whole "investment" business. To clarify:
Month1 -- 10% return, so now you have 110 btc with you
Month2 -- -5% loss -- you dont get any wages or 2% here. While you still ahead by 5%

Though I have no doubt returns in cryptocurrency can be huge if done correctly but in the same vein losses can pile up easily.

and btw how do you insure against false trading to circumvent poloneix's escrow. To give an example, how will we know you wouldn't put up a cache of worthless coins from the team's kitty for say 10 btc, only to be bought by using the quibkcoin money?

What false trading? I am a bit lost here. The coins I donated myself before ICO launched was a donation from myself. Any other coins or liquid assets are purchasing are brand new like the SYSCOIN ICO form moolah and we are going to purchase just over 3 SYNCOIN form POLONIEX..POLONIEX can see our trading accounts. Other trading will be done mainly form our TOP level trader JT who is well known in the Community. He is a big whale and wouldn't need to sell his own coins to us for a few btc ICO, He is worth a lot more than our ICO funds times 10 lol.

And do you envisage BTC for buy support ?

Yes we do soon and please be patient..We are a 2 day coin and we are all working hard for this coin's future.  Please don't sell your coins less than what you bought them for. That's the only advice I would like to give at present. There will be more buy support and trading done to help the coin. Unfortunately we cannot discuss our trading strategies as our main focus is to deliver a working coin and profits.

[Bitcoin_Mafia_Me]

Stumbled upon this thread. Now the idea is basically a fund management without the obligatory higher watermark. And still want a 20+2% of the returns. Hmm...

At least better than the new scam coins we see each day but really a way to dry up the initial investor slowly.

The 2% revenues for the Team members is for their WORK each month. I myself have left all my other work currently to work this project full time..It's called wages. 

So I guess never heard of the term higher watermark? Cause thats the only way people earn wages when working in the whole "investment" business. To clarify:
Month1 -- 10% return, so now you have 110 btc with you
Month2 -- -5% loss -- you dont get any wages or 2% here. While you still ahead by 5%

Though I have no doubt returns in cryptocurrency can be huge if done correctly but in the same vein losses can pile up easily.

and btw how do you insure against false trading to circumvent poloneix's escrow. To give an example, how will we know you wouldn't put up a cache of worthless coins from the team's kitty for say 10 btc, only to be bought by using the quibkcoin money?

For the last time folks, there is no 'super secret team kitty' of QBK. Each of us received a small stipend for the work we
did on the coin (I received 0.5 BTC) which we were free to do with as we wanted. Keep it, buy QBK, buy pork bellies, it
was up to us.

[discodancer]

Stumbled upon this thread. Now the idea is basically a fund management without the obligatory higher watermark. And still want a 20+2% of the returns. Hmm...

At least better than the new scam coins we see each day but really a way to dry up the initial investor slowly.

The 2% revenues for the Team members is for their WORK each month. I myself have left all my other work currently to work this project full time..It's called wages. 

So I guess never heard of the term higher watermark? Cause thats the only way people earn wages when working in the whole "investment" business. To clarify:
Month1 -- 10% return, so now you have 110 btc with you
Month2 -- -5% loss -- you dont get any wages or 2% here. While you still ahead by 5%

Though I have no doubt returns in cryptocurrency can be huge if done correctly but in the same vein losses can pile up easily.

and btw how do you insure against false trading to circumvent poloneix's escrow. To give an example, how will we know you wouldn't put up a cache of worthless coins from the team's kitty for say 10 btc, only to be bought by using the quibkcoin money?

What false trading? I am a bit lost here. The coins I donated myself before ICO launched was a donation from myself. Any other coins or liquid assets are purchasing are brand new like the SYSCOIN ICO form moolah and we are going to purchase just over 3 SYNCOIN form POLONIEX..POLONIEX can see our trading accounts. Other trading will be done mainly form our TOP level trader JT who is well known in the Community. He is a big whale and wouldn't need to sell his own coins to us for a few btc ICO, He is worth a lot more than our ICO funds times 10 lol.

Now this is why I love the altcoin section; people go on the defensive the very question you ask them. Its good to see you dint resort to "don't spread FUD" argument.

First I am not talking about any ICO coins which you or someone got. Its up to your team to decide and people to be ok with it. I have nothing to say about it.


As for false trading if I wasn't clear earlier let me put it another way - I pick an shitty altcoin called shitcoin which has volume of say ~2BTC. While you represent it to the community as a valid buy, there is actually a sell wall set pretty high up at say 0.5 BTC level. With 10 BTC out from poloneix's wallet, I can clear the orderbook of the 0.5 BTC and buy the sell wall for 9.5 BTC. Hence I avoided the poloneix's escrow and made 9.5 BTC windfall in a min. Sell wall will obviously be a dead giveway. So you might even spread the orders intermittently creating a false depth in the market to be bought into. How are you going to prevent against that. Is "trust us" or JT is a renowed person your only prevention mechanism? If yes, (if I have missed) can you guys share your real life details with the community? That will build the trust better.

As for JT, unless I am mistaken the profile - jtgangus was registered newly on 4th July. Or did I miss something in the last 20 odd pages? If no, then can clarify who is JT? And do share his investment returns, it'll make an interesting read and maybe even get more people to flock this coin, wouldn't it? I mean if I were this coin, I would certainly wave my association with the so called whale with 1k BTC. Or his irl id would certainly help.

PS: I bought some coin at the dump which happened earlier on poloneix. not the amount to lose sleep over though

[discodancer]

and btw how do you insure against false trading to circumvent poloneix's escrow. To give an example, how will we know you wouldn't put up a cache of worthless coins from the team's kitty for say 10 btc, only to be bought by using the quibkcoin money?

I assume you are talking about something like a team member selling their stash of <generic garbage coin> at an unusually high amount, then using the ICO money to purchase it?

Basically what happened with MP and that Cloak theft semi-recently.

I believe Polo requires a public ledger, so if they do anything at all with the ICO coin, we should see it. So if anyone wants to be evil, it'd basically doom their own coin ... so would be sort of pointless to do.

Exactly. When you are scamming people out of their btc, dooming their own coin isn't really a concern is it? Though this might or might not happen, I am just wondering what kind of safeguards are there in place to avoid it. Is it only the "we cross our hearts to do no evil?" And then we wonder why people fall for scam coins.

[macorcina]

Macorcina,please wait till we are able to confirm when new Linux wallet is ready.

no problem. i only compile from source  from GIT  and notce this diff.

[silverkinguk]

This coin would not exist if there were any bad intentions.
I think the team deserve all the respect for bringing a new Coin that supports the community.
We are focused on this coin 100%,we do not care what value the coin is as the Coin will have it's foundations in place.

[poornamelessme]

and btw how do you insure against false trading to circumvent poloneix's escrow. To give an example, how will we know you wouldn't put up a cache of worthless coins from the team's kitty for say 10 btc, only to be bought by using the quibkcoin money?

I assume you are talking about something like a team member selling their stash of <generic garbage coin> at an unusually high amount, then using the ICO money to purchase it?

Basically what happened with MP and that Cloak theft semi-recently.

I believe Polo requires a public ledger, so if they do anything at all with the ICO coin, we should see it. So if anyone wants to be evil, it'd basically doom their own coin ... so would be sort of pointless to do.

Exactly. When you are scamming people out of their btc, dooming their own coin isn't really a concern is it? Though this might or might not happen, I am just wondering what kind of safeguards are there in place to avoid it. Is it only the "we cross our hearts to do no evil?" And then we wonder why people fall for scam coins.

Well, any dev may decide to scam, and it's up to an investor whether they trust the devs or not. Nobody can say with 100% certainty someone is honest or not here.

That said, the devs have made their identities known to poloniex and I think some have shown their faces or appeared in videos. Again, that isn't a complete safeguard, but typically when a dev wants to scam they'd be a bit more secretive. If these devs wanted to scam, they wouldn't have run the ICO on Poloniex to begin with. They would have chosen Bittrex and gotten a lump-sum payout all at once.

On Polo, they get a trickle amount, only for what they say they will spend the sums for, and it goes on a public ledger.

You do bring up on interesting point though... for regular assets, we will see what they buy (I assume). But for this general trading, or whale trading, how do we know what he is actually doing? Is he using ICO money, I assume, to just sort of generally trade and make profits, to put back into the overall asset pool?

[discodancer]

Well, any dev may decide to scam, and it's up to an investor whether they trust the devs or not. Nobody can say with 100% certainty someone is honest or not here.

That said, the devs have made their identities known to poloniex and I think some have shown their faces or appeared in videos. Again, that isn't a complete safeguard, but typically when a dev wants to scam they'd be a bit more secretive. If these devs wanted to scam, they wouldn't have run the ICO on Poloniex to begin with. They would have chosen Bittrex and gotten a lump-sum payout all at once.

You do bring up on interesting point though... for regular assets, we will see what they buy (I assume). But for this general trading, or whale trading, how do we know what he is actually doing? Is he using ICO money, I assume, to just sort of generally trade and make profits, to put back into the overall asset pool?

Um, Urocoin? And thats the point I am trying to make. I am just looking for the answer to the query. And frankly with things like self back patting like silverkinguk just did is not really giving me confidence.

[discodancer]

This coin would not exist if there were any bad intentions.
I think the team deserve all the respect for bringing a new Coin that supports the community.
We are focused on this coin 100%,we do not care what value the coin is as the Coin will have it's foundations in place.

Sorry to quote this but this is hilarious. Are you being serious? You guys don't want to earn respect rather demand it? Well thats something new, you don't see in the altcoin section everyday - the dev back patting himself. Yeah the foundations are in place for sure.

Thanks guys for the discussion till now, I am outta here.

[poornamelessme]

This coin would not exist if there were any bad intentions.
I think the team deserve all the respect for bringing a new Coin that supports the community.
We are focused on this coin 100%,we do not care what value the coin is as the Coin will have it's foundations in place.

Sorry to quote this but this is hilarious. Are you being serious? You guys don't want to earn respect rather demand it? Well thats something new, you don't see in the altcoin section everyday - the dev back patting himself. Yeah the foundations are in place for sure.

Thanks guys for the discussion till now, I am outta here.

Think you are being a bit too rash there. I would agree that the team should provide more info, but just because some team members sort of give pat answers, I wouldn't hold it against them that much.

What they need is a better PR person. Someone who can clearly explain how everything works, their goals and what safeguards are in place.

Right now they have a couple of team members who reply with their own opinions or let emotion get in the way. It's better to have a PR robot, who can simply provide facts.

[silverkinguk]

It's better to get information from the source than pure spin from PR.

[qiwoman2]

Every transaction will be posted and is posted on a transaction ledger. The daily trading that will be put in place by our resident Trader is for generating profits as he is a well known successful trader on POLONIEX. He will be given a set amount to trade and will post a report to us to post monthly re profits. He is one of the most trustworthy and renowned persons I know and He himself Invested 5.7 BTC before the coin was launched to help cover coin costs and salaries. You may see me on bitcointalkshow, Link is on our ann thread and also you can see our team on our website. Other than that at the moment it is up to each person to decide if they wish to purchase our coin or not. There are a plethora of coins to chose from and we don't claim we are better or worse than any other coin. All we are trying to do is create a basic foundation to earn revenues for coin holders so the coin is not just a thin air coin with no backing.
All we can do at present is keep updating the ann and here for any new developments. We have a roadmap on the OP of this ann and are posting in real time developments as fst as we can get them done. Thank you for your patience.

[poornamelessme]

The daily trading that will be put in place by our resident Trader is for generating profits as he is a well known successful trader on POLONIEX. He will be given a set amount to trade and will post a report to us to post monthly re profits. He is one of the most trustworthy and renowned persons I know and He himself Invested 5.7 BTC before the coin was launched to help cover coin costs and salaries.

I suggest a monthly report of not just profits, but coins traded for that month. And make it public. It'll help avoid some FUD that way.

@silverkinguk  Well, when I say PR person, I meant less spin and more facts. Call it a spokeperson then... just someone who can clarify things a bit better. Pat answers like the team deserves respect etc. doesn't mean anything if it's coming from a team member. Better to just answer questions, like qiwoman just did now.

[qiwoman2]

 New Windows wallet compiled and on OP.

[qiwoman2]

The daily trading that will be put in place by our resident Trader is for generating profits as he is a well known successful trader on POLONIEX. He will be given a set amount to trade and will post a report to us to post monthly re profits. He is one of the most trustworthy and renowned persons I know and He himself Invested 5.7 BTC before the coin was launched to help cover coin costs and salaries.

I suggest a monthly report of not just profits, but coins traded for that month. And make it public. It'll help avoid some FUD that way.

@silverkinguk  Well, when I say PR person, I meant less spin and more facts. Call it a spokeperson then... just someone who can clarify things a bit better. Pat answers like the team deserves respect etc. doesn't mean anything if it's coming from a team member. Better to just answer questions, like qiwoman just did now.

Whatever coins we buy and hold as a liquid asset will be recorded, as for the day trading we haven't yet decided if we are going to openly disclose each and every trade. It can be done but  am not at present sure that would be advisable not for the general public, maybe for our Bagholder members who own 100 coins or more, yes as they are classed as our investors. We will decide on this and discuss accordingly.

[poornamelessme]

Whatever coins we buy and hold as a liquid asset will be recorded, as for the day trading we haven't yet decided if we are going to openly disclose each and every trade. It can be done but  am not at present sure that would be advisable not for the general public, maybe for our Bagholder members who own 100 coins or more, yes as they are classed as our investors. We will decide on this and discuss accordingly.

If you do it for your bagholder members, might as well make it public. It'd end up being public anyway.

Personally I don't really think it matters if each and every trade is disclosed. As part of the bigger picture, I'd expect or hope most of the ICO money went to real assets or new coin features.

 But... if during one month a trading loss is reported, or folks notice some odd trade on polo where <junkcoin> went for a lot more than it should have, it could supply fud material, unless full trading details were disclosed.