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

[Conurtrol]

Moby Dick on poloniex:

"Shogun, I can see how it would work at this particular moment- they would need to be aggressive tho- and it doesn't seem they are motivated to do this."

Right.  You would need someone they trust who could convince them.

If you can't get Busoni or anyone, I don't think there's any point in fighting the good fight here.

MobyDick is the resident coin expert on Poloniex and he thinks it would work. That quote is from the polo troll box just now.

Right, but it doesn't seem like he's convinced anyone.

edit: Do you get a different feeling?

Nope looks like you're right. Ignorance and apathy everywhere. I normally wouldn't mind but I own a lot of QBK and I know this plan is a great idea.

Your thinking is flawed.

The 100 BTC goes towards growing the dividend.

If you burn 25 BTC, you know only have 75 BTC to play with. Of course this will mean a lower dividend.

Burning coins is a bad idea.

You would normally be right. This only makes sense at the low price of .0001. Please read post 690 and you'll really understand it.

[poornamelessme]

Your thinking is flawed.

The 100 BTC goes towards growing the dividend.

If you burn 25 BTC, you know only have 75 BTC to play with. Of course this will mean a lower dividend.

Burning coins is a bad idea.

They are correct in the view that the total dividend would probably increase due to the coins being burned. It wouldn't be smart for the dev team to hold like half (or however many) QBK in existence. Or anyone to hold that many. So they'd really need to burn them.

But yep, that 25 btc would be gone, so it couldn't be used for dividends or future coin enhancements. Potentially that 25 btc could bring in much more buy support longterm by being used properly, than by basically burning them away.

I agree that it's a bad idea, and I'd only do it as a last resort -- like drop the lifeboats, the ship is sinking... last resort before we all die, sort of situation. There are other ways to increase buy support, including a multipool (hope one is in the works).

[Conurtrol]

There is a reasonable and rational case to be made for a buy and burn at .0001. It's actually a no-brainer if you look at the math. It has nothing to do with a pump and dump or gambling or any of the other ridiculous accusations made. The dev is under a lot of stress so i will just let it go. Peace.

I am sorry had some urgent stuff to do for the coin. It's a valid argument and I appreciate it but what we have in place might just do the trick as well. We may use your method as a last resort if ours fails. So we are open to options,. I just think at the moment we don't just yet need a so drastic one not after only being open for 3 days and only trading on one exchange. We can give it a week or so before we look at this more drastic approach.

This a not a desperate move or a last ditch move. It's the smart move. The ROI for the ICO coins would have to be astronomical to match the bang for our buck we could get by buying and burning at .0001. I bought this coin because I know from the polo trollbox that you and your team are honest and sincere people. The suggestion that I am trying to mislead you or do something selfish here is really hurtful. Please just talk to some people you trust about it. MobyDick on polo agreed it was a good idea. That must mean something to you.

[qiwoman2]

There is a reasonable and rational case to be made for a buy and burn at .0001. It's actually a no-brainer if you look at the math. It has nothing to do with a pump and dump or gambling or any of the other ridiculous accusations made. The dev is under a lot of stress so i will just let it go. Peace.

I am sorry had some urgent stuff to do for the coin. It's a valid argument and I appreciate it but what we have in place might just do the trick as well. We may use your method as a last resort if ours fails. So we are open to options,. I just think at the moment we don't just yet need a so drastic one not after only being open for 3 days and only trading on one exchange. We can give it a week or so before we look at this more drastic approach.

This a not a desperate move or a last ditch move. It's the smart move. The ROI for the ICO coins would have to be astronomical to match the bang for our buck we could get by buying and burning at .0001. I bought this coin because I know from the polo trollbox that you and your team are honest and sincere people. The suggestion that I am trying to mislead you or do something selfish here is really hurtful. Please just talk to some people you trust about it. MobyDick on polo agreed it was a good idea. That must mean something to you.

O.K This is what we can do let's give it a week or two see how we evolve..then if it comes down to your idea being a more profitable one in the long term we can come back to the drawing board agreed? . I never had intention to hurt anyone, so my apologies if I gave that impression.

[candlesticks]

There is a reasonable and rational case to be made for a buy and burn at .0001. It's actually a no-brainer if you look at the math. It has nothing to do with a pump and dump or gambling or any of the other ridiculous accusations made. The dev is under a lot of stress so i will just let it go. Peace.

I am sorry had some urgent stuff to do for the coin. It's a valid argument and I appreciate it but what we have in place might just do the trick as well. We may use your method as a last resort if ours fails. So we are open to options,. I just think at the moment we don't just yet need a so drastic one not after only being open for 3 days and only trading on one exchange. We can give it a week or so before we look at this more drastic approach.

This a not a desperate move or a last ditch move. It's the smart move. The ROI for the ICO coins would have to be astronomical to match the bang for our buck we could get by buying and burning at .0001. I bought this coin because I know from the polo trollbox that you and your team are honest and sincere people. The suggestion that I am trying to mislead you or do something selfish here is really hurtful. Please just talk to some people you trust about it. MobyDick on polo agreed it was a good idea. That must mean something to you.

Don't let your feelings get hurt. It's not a bad idea, it's just that other people have ideas as well. They may feel that the BTC is better spent elseware, and the price will rise accordingly. Getting a rise in price will only hold, if there are buyers to support the rise.

[naidledoes]

Awe man!!! Why didn't you tell me the price was gonna jump?!?! I woulda bought in more down there!!! Oh well. Thanks anyway. Keep doing it like that and we'll have success. Go team qbk!

[qiwoman2]

HEH
I realy dont know and dont understand what i should do to run wallet. I created file with data from OP. I put this file in %appdata&/Qibuck folder and 0 connections. Can some nice person explain me on priv, step by step, how to run Qiwallet. I will be grateful.

Make sure you save the conf file with correct name

Code:

Qibuck.conf

this wont work

Code:

qibuck.conf

Yes, i had wrong name of file but now i changed it to "Qibuck.conf" and still nothing, no connections. Thx for answer.

When you save the txt file of the nodes save it as ALL FILES not txt..try that..

I did like you said but still "0 active connections" What means this line - rpcpassword=<strongpassword> - should i put here any password?

Not that I know of once sec let me check my roaming file for you..

I have this only in mine and it works..o.k try clearing all the files in your roaming folder except the wallet.dat and .conf file

rpcuser=user
rpcpassword=<strongpassword>
daemon=1
server=1
rpcallowip=127.0.0.1
addnode=104.131.194.96

see how things go..

[xcurry]

HEH
I realy dont know and dont understand what i should do to run wallet. I created file with data from OP. I put this file in %appdata&/Qibuck folder and 0 connections. Can some nice person explain me on priv, step by step, how to run Qiwallet. I will be grateful.

Make sure you save the conf file with correct name

Code:

Qibuck.conf

this wont work

Code:

qibuck.conf

Yes, i had wrong name of file but now i changed it to "Qibuck.conf" and still nothing, no connections. Thx for answer.

When you save the txt file of the nodes save it as ALL FILES not txt..try that..

I did like you said but still "0 active connections" What means this line - rpcpassword=<strongpassword> - should i put here any password?

Not that I know of once sec let me check my roaming file for you..

I have this only in mine and it works..o.k try clearing all the files in your roaming folder except the wallet.dat and .conf file

rpcuser=user
rpcpassword=<strongpassword>
daemon=1
server=1
rpcallowip=127.0.0.1
addnode=104.131.194.96

see how things go..

Ok, now works thx for help!

[qiwoman2]

HEH
I realy dont know and dont understand what i should do to run wallet. I created file with data from OP. I put this file in %appdata&/Qibuck folder and 0 connections. Can some nice person explain me on priv, step by step, how to run Qiwallet. I will be grateful.

Make sure you save the conf file with correct name

Code:

Qibuck.conf

this wont work

Code:

qibuck.conf

Yes, i had wrong name of file but now i changed it to "Qibuck.conf" and still nothing, no connections. Thx for answer.

When you save the txt file of the nodes save it as ALL FILES not txt..try that..

I did like you said but still "0 active connections" What means this line - rpcpassword=<strongpassword> - should i put here any password?

Not that I know of once sec let me check my roaming file for you..

I have this only in mine and it works..o.k try clearing all the files in your roaming folder except the wallet.dat and .conf file

rpcuser=user
rpcpassword=<strongpassword>
daemon=1
server=1
rpcallowip=127.0.0.1
addnode=104.131.194.96

see how things go..

Ok, now works thx for help!

yayya and I am crap technically so I have learned one thing lol with wallet hhee.. Glad to be of some use.

[qiwoman2]

Everyone just needs to breathe.

And...

Enjoy this video of a cockatiel dancing its ass off to Queen's "Another One Bites The Dust"

https://www.facebook.com/photo.php?v=912815672077351

LOL that is hilarious thanks for the lovely vid!

[chilly2k]

We are not ignorant or apathetic..I myself have donated thousands of usd assets and also invested over 5 btc in buying the coin in ICO and am working 24/7 to see this succeed and left OTHER PAYING JOBS to work full time on the coin. Just because we don't want to burn the coins and put up a huge buy wall in one chunk to suit those who want a quick exit, that does certainly not make us apathetic. We respect everyone;s point of view but it ma not necessarily be the route we wish to take. We have respect for those who treat our thread with respect and voice their opinions but we have a way to deal with the issue without the need for such drastic measures. Remember we are only 3 days old. I don't realize what the panic is all about. The panic seems to only be coming from those who wish to make a humongous roi in a very short space of time. W ere not dying, we are not going anywhere and if it means we end up buying a ton of coin to weed out the weak hands and bring in serious investors who understand our model then that's fine by us. You really all need to relax and let us do our job accordingly, like purchasing our assets, promo campaigns, coin tech enhancements and other revenue generating activities. At the end of the day we have every investor's interests at heart but we cannot facilitate the needs of the Restless Gambler, that is not the nature of our coin.

There is no panic. There is an opportunity to increase ROI for every longterm bagholder. A small investment now could reap large dividends forever. Will you listen and discuss?

You are suggesting to invest 10-25 btc of thr ICO funds to buy up and burn the coins correct?

Yes, at a price of .0001. Post #690 has a proof of concept mathematical explanation of why this makes sense.

   I bought all of the coins < .0001   Poloniex is at .00012860 

[qiwoman2]

We are not ignorant or apathetic..I myself have donated thousands of usd assets and also invested over 5 btc in buying the coin in ICO and am working 24/7 to see this succeed and left OTHER PAYING JOBS to work full time on the coin. Just because we don't want to burn the coins and put up a huge buy wall in one chunk to suit those who want a quick exit, that does certainly not make us apathetic. We respect everyone;s point of view but it ma not necessarily be the route we wish to take. We have respect for those who treat our thread with respect and voice their opinions but we have a way to deal with the issue without the need for such drastic measures. Remember we are only 3 days old. I don't realize what the panic is all about. The panic seems to only be coming from those who wish to make a humongous roi in a very short space of time. W ere not dying, we are not going anywhere and if it means we end up buying a ton of coin to weed out the weak hands and bring in serious investors who understand our model then that's fine by us. You really all need to relax and let us do our job accordingly, like purchasing our assets, promo campaigns, coin tech enhancements and other revenue generating activities. At the end of the day we have every investor's interests at heart but we cannot facilitate the needs of the Restless Gambler, that is not the nature of our coin.

There is no panic. There is an opportunity to increase ROI for every longterm bagholder. A small investment now could reap large dividends forever. Will you listen and discuss?

You are suggesting to invest 10-25 btc of thr ICO funds to buy up and burn the coins correct?

Yes, at a price of .0001. Post #690 has a proof of concept mathematical explanation of why this makes sense.

   I bought all of the coins < .0001   Poloniex is at .00012860 

That sounds Yummy..who can say no to half price august sale.

[qiwoman2]

Yeah, agreed on Dark, it looks like XCurrency will be the one. I don't want to waste a penny on coin features. I see this coin as more of an investment fund that happens to be a coin. I'd like to see the whole 100BTC from the ICO put to work making money for us. That will pay us bigger dividends and then the price will naturally rise.

I haven't followed all the Xcurrency stuff, so don't know their status or if they are truly anonymous.

We'll have to agree to disagree on new coin features. Problem is, crypto people won't have patience for that. They already don't have patience and it's only been a couple of days. Folks should have just bought some mining contracts on cryptsy or a mutual fund, instead of crypto then.

Bigger dividends only matter when a coin's price is stable. It's sort of like POS. It's great to say, hey, I'm getting 10-15% back yearly on my investment. But only if the coin's price doesn't go down like 33% in the meanwhile (or at current prices much more than that). People simply won't be patient enough.

Hence why I think some new coin features will be needed.

POS interest dilutes the value of a coin through inflation(creation of new coins). This is different. We will be getting actual dividends paid in Bitcoin. The higher the dividends, the higher the price of the coin will become.

What do you think about using a little bit of the ICO funds to put up a buy wall at .0001 and burning all coins purchased?

I really think it's pointless right now. If the first month's dividends are good then the price will rise dramatically. We should invest every single Bitcoin to maximize potential returns.

Last time I'll post this as people don't seem to get it, but here it is again:

Any coins they burned would not receive a dividend.  Any non-burned coins would have their dividend increased by the previous dividends of the burned coins.

For instance, if the dividend was 100 BTC a year (100% profit), each coin would receive (100/500,000 =) 0.0002 BTC a year.

If 25 BTC went into burning half the coins and the dividend was only 75 BTC (100% profit), each coin would receive (75/250,000 =) 0.0003 BTC a year.

If 49.999 BTC went into burning all but one of the coins and the dividend was only 50 BTC (100% profit), each coin would receive (50/1 =) 50 BTC a year.

But if all the coins get burnt save 1 who would own that one coin? maybe it's late for me so I am not thinking straight ..Please explain it to me tomorrow.. Just interested to see how this would actually work in theory.

[poornamelessme]

But if all the coins get burnt save 1 who would own that one coin?

I asked that same question, as I was focusing on coin valuation on the exchanges.

He was just trying to show how dividends would increase if the coins were burned. And they would.

Although it's not subtracting 25 btc from the dividend pool, but the asset pool. And my opinion is that 25 btc would be better used for other purposes.

[d34g13]

I brought up the idea of a buywall at 0.0001 and burning coins on page 30  ( https://bitcointalk.org/index.php?topic=711987.msg8325205#msg8325205 )
and many have taken it up, because its so simple.

From the devs reactions i realise a few things:
- The devs dont want to invest the ICO money to increase the coins value (obviously) and there are several possible reasons for this:
   a) they would simply loose more control over the coin with a lower ICO fund (less to spend less to control)
   b) they would lower their own chances of paying themselve for whatever work they do - remember qiwoman talking of paying wages?
   c) they would simply have more Qibuck coins in their "own" ICO wallet and less BTC - i would probably prefer BTC as well
   d) buying and burning coins would just be giving btc to the ones currently holding or wanting to sell - which would probably hurt a) - c)

The question is, where value is flowing in and where its flowing out
- Value has flow in by investors buying and selling for losses, but that also destroyed the confidence alot - will see whichever force will be stronger
- and Value is flowing out for whatever the dev team is doing

Overall the dev team might really be trying hard as they say, but i doubt they will get something interesting up and running (feature wise)
early enough, before people loose interest or just switch to something else.
Having to spend BTC from the ICO just for compiling wallets really didnt encourage me there (either they had to hire someone to do it which would
mean the devs dont know how to do their stuff or they just tryed to get payouts - both versions dont sound well to me)

In the end the already lost value of investors might lead to a stable price (also that many just refuse to sell below a certain level - true bagholders so to say)
or maybe a slight price increase. But in the end this thing does not seem to be the next interesting/big story

Buy or sell? Well evaluate the chances for this coin to double its value compared to another coin (NOT depending on how much you lost so far!)
Im personally betting on other trains now - might be wrong - time will tell

[bitwarrior]

The coin is just a few days old, and as other new coin owner/dev out there, it is still on its learning curve.
What happened to the coin's growth and decline is not normal as there are other people involve that want this coin's goals and plans to fail.
I myself have invested to this coin and is still holding. I believe the QBK Team will push through in the end.

Just give this coin a chance and be patient, as they do their work in the background.

[pseudonymdude]

Yeah, agreed on Dark, it looks like XCurrency will be the one. I don't want to waste a penny on coin features. I see this coin as more of an investment fund that happens to be a coin. I'd like to see the whole 100BTC from the ICO put to work making money for us. That will pay us bigger dividends and then the price will naturally rise.

I haven't followed all the Xcurrency stuff, so don't know their status or if they are truly anonymous.

We'll have to agree to disagree on new coin features. Problem is, crypto people won't have patience for that. They already don't have patience and it's only been a couple of days. Folks should have just bought some mining contracts on cryptsy or a mutual fund, instead of crypto then.

Bigger dividends only matter when a coin's price is stable. It's sort of like POS. It's great to say, hey, I'm getting 10-15% back yearly on my investment. But only if the coin's price doesn't go down like 33% in the meanwhile (or at current prices much more than that). People simply won't be patient enough.

Hence why I think some new coin features will be needed.

POS interest dilutes the value of a coin through inflation(creation of new coins). This is different. We will be getting actual dividends paid in Bitcoin. The higher the dividends, the higher the price of the coin will become.

What do you think about using a little bit of the ICO funds to put up a buy wall at .0001 and burning all coins purchased?

I really think it's pointless right now. If the first month's dividends are good then the price will rise dramatically. We should invest every single Bitcoin to maximize potential returns.

Last time I'll post this as people don't seem to get it, but here it is again:

Any coins they burned would not receive a dividend.  Any non-burned coins would have their dividend increased by the previous dividends of the burned coins.

For instance, if the dividend was 100 BTC a year (100% profit), each coin would receive (100/500,000 =) 0.0002 BTC a year.

If 25 BTC went into burning half the coins and the dividend was only 75 BTC (100% profit), each coin would receive (75/250,000 =) 0.0003 BTC a year.

If 49.999 BTC went into burning all but one of the coins and the dividend was only 50 BTC (100% profit), each coin would receive (50/1 =) 50 BTC a year.

But if all the coins get burnt save 1 who would own that one coin? maybe it's late for me so I am not thinking straight ..Please explain it to me tomorrow.. Just interested to see how this would actually work in theory.

Not to get into a whole thing again, but the true believer or believers who don't sell at .0001 would own that coin.  That's just theory to explain the concept.  The truth is that you wouldn't actually be able to buy up all the coins at .0001 because there aren't enough people willing to sell at that price.  You wouldn't even be able to buy up half the coins at that price.  However, any coins you can buy at the price helps everyone because you allow weak hands to leave and you increase the dividend potential for anyone who holds.  (You also decrease marketcap, which is good, but I didn't want to bring that up because of the arguments people were making.)

If you were able to buy up 499,999 coins at .0001, it would be great because then you would have the remaining 50 BTC behind that one coin.  Let's say you made 10% of that 50 BTC in a year or 5 BTC.  Anyone who owns a piece of that coin would receive a dividend at the rate of 5 BTC/coin.

If you go through the last 8 pages or so, I try to explain this in multiple ways.  Here's another way I tried to explain it: https://bitcointalk.org/index.php?topic=711987.msg8330176#msg8330176

[Teo91.v]

Bounty?? 

[qiwoman2]

Bounty?? 

I sent your address to Busoni to payout as he is processing them from the bounty account. We only had the payments unfrozen yesterday so just give Him time to do them, He must have been busy today.

[qiwoman2]

I brought up the idea of a buywall at 0.0001 and burning coins on page 30  ( https://bitcointalk.org/index.php?topic=711987.msg8325205#msg8325205 )
and many have taken it up, because its so simple.

From the devs reactions i realise a few things:
- The devs dont want to invest the ICO money to increase the coins value (obviously) and there are several possible reasons for this:
   a) they would simply loose more control over the coin with a lower ICO fund (less to spend less to control)
   b) they would lower their own chances of paying themselve for whatever work they do - remember qiwoman talking of paying wages?
   c) they would simply have more Qibuck coins in their "own" ICO wallet and less BTC - i would probably prefer BTC as well
   d) buying and burning coins would just be giving btc to the ones currently holding or wanting to sell - which would probably hurt a) - c)

The question is, where value is flowing in and where its flowing out
- Value has flow in by investors buying and selling for losses, but that also destroyed the confidence alot - will see whichever force will be stronger
- and Value is flowing out for whatever the dev team is doing

Overall the dev team might really be trying hard as they say, but i doubt they will get something interesting up and running (feature wise)
early enough, before people loose interest or just switch to something else.
Having to spend BTC from the ICO just for compiling wallets really didnt encourage me there (either they had to hire someone to do it which would
mean the devs dont know how to do their stuff or they just tryed to get payouts - both versions dont sound well to me)

In the end the already lost value of investors might lead to a stable price (also that many just refuse to sell below a certain level - true bagholders so to say)
or maybe a slight price increase. But in the end this thing does not seem to be the next interesting/big story

Buy or sell? Well evaluate the chances for this coin to double its value compared to another coin (NOT depending on how much you lost so far!)
Im personally betting on other trains now - might be wrong - time will tell

Wages are just 2% of whatever is earned in the month. For the amount of hours we are putting in this project daily, at the moment I don't even believe it would pay us a minimum wage Yet in the early stages..

Also DEVS charge, whether we like it or not they charge us for every action of a technical nature, that's the way it is. If you think  We are Stealing from the ICO coffers, you better verify the BC accounts with Busoni, thanks.