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

[BITDV]

   Isn't there supposed to be a private forum in the works.  Haven't heard anything on it lately, any status? 

yes there is , just been delayed with other things that need to be implemented first , but it is coming!!

[qiwoman2]

Big drop in price. My sources tell me the whale (backer) of this coin dumped his stash and abandoned qbk.

Could be a good buying opportunity if the coin can stand on its own. I know the team has been trying to keep prices stable with buy backs, but sooner or later that will end.

Actually He still owns a bag and I got proof of that from his email and in the block explorer. JT is a close Friend and he is going through Family Health Issues at the moment so he is leaving Crypto for around a month or so till he gets over his Family Problem. I love and Respect JT as a Friend and He will be in touch but at the moment we should all respect that he needs space. . Drop in price is normal, it is retracing and like all good cryptos will be up again. The price has never worried me because if you see the order books there are plenty of Whales that want to gobble it up for cheap so they must be seeing some good in our efforts.

[JDS1000]

I think QBK will raise every month because of the big bagholders dividend....   Most crypto traders are not patient enough to wait 30 whole days for such returns - so I predict another big jump in price early through mid-October before dividends are paid.

[qiwoman2]

OP has been cleaned up a bit today and tomorrow asset sheet will be updated..thanks for your support..

[qiwoman2]

Nice to see JT in the trollbox today buying up QBK coins ..

[youseeberkeley]

OP has been cleaned up a bit today and tomorrow asset sheet will be updated..thanks for your support..

Looks good!  Just wondering, has the 100k stabilization fund been completed yet? 

[ChrisLandin]

Im more of a lurker than an active poster but I hope all is well with JT

Ive gotten some usefull tips from the polo troll box thanks to JT  

[qiwoman2]

OP has been cleaned up a bit today and tomorrow asset sheet will be updated..thanks for your support..

Looks good!  Just wondering, has the 100k stabilization fund been completed yet? 

not yet, we getting there..I got around 53k at the moment i just posted on asset sheet..we want to buy more bags to get it to 100k, but like any trader we want the perfect entry point to scoop up more bags for our fund!
Sell QBK
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[qiwoman2]

Im more of a lurker than an active poster but I hope all is well with JT

Ive gotten some usefull tips from the polo troll box thanks to JT  

JT IS OUR BEST ANGELIC WHALE ON POLO TROLLBOX..and a good supporter of QBK and a Friend.. .He is an excellent Trader..

[chilly2k]

I don't think the bagholder policy is what was voted on. 

2. PROOF OF BAGHOLD POOL
All HOLDERS OF QIBUCK COIN that baghold 100 or more coins at the time of the monthly audit will be eligible to receive a dividend bonus from this portion of the incoming revenues. Basically the more coins one bagholds, the larger the dividend bonus will be. This is what will help the price of QIBUCK grow over time as opposed to dwindle, due to lack of interest, dumping and moving on type of coins. Bagholders will be paid in Bitcoin. There are two bonus dividend payments. One is percentage based on the amount that you own at time of audit taken from the block explorer bagholder list here: http://explorer.qibuck.com/over100.php . The second payment is an equal payment to all the Bagholders taken from the Percentage that is on POLONIEX as POLONIEX EXCHANGE does not receive a dividend as this was voted on by the majority of the QBK Community. See here our first dividend payments paid out for September 2014: http://goo.gl/GPJP2j . Bagholders can choose to be paid either in BTC or QBK. Only Bagholders who wish to be paid in BTC need to send us a pm with their btc addies and their qbk details as now we are percentage based, we no longer need any other info from QBK paid Bagholders as we already have them on the Block Explorer Bagholder list. Bagholders MUST HAVE THEIR COINS in the downloaded wallet until full payments are made. If we see that Bagholders take off their coins and put on the exchange before we get to make their payment they will not be paid, so please make sure you keep your coins in your downloaded wallets until the payment cycle is complete, thanks for your cooperation and understanding.


I was under the impression that all exchange (Poloniex) coins would not be counted for the bagholder payouts.  and the payouts were going to be based on the percentage of coins held. 

   I noticed this in the first month, and hoped it was just an over site on your part since this was all new.  But someone holding 100 coins got an additional 37.59 coins.  That's 37.59% profit.  Someone holding 10,000 coins got 37.59 coins.  That's a .03759 % profit. 

There should only be one percentage based dividend payout.  It does not include any Poloniex coins.    If you were doing 2 payments because it's easier to do, let me know.  I can show you how to calculate the whole thing start to finish in about 20-30 minutes.  That doesn't include sending coins.     

[poornamelessme]

I was under the impression that all exchange (Poloniex) coins would not be counted for the bagholder payouts.  and the payouts were going to be based on the percentage of coins held.  

   I noticed this in the first month, and hoped it was just an over site on your part since this was all new.  But someone holding 100 coins got an additional 37.59 coins.  That's 37.59% profit.  Someone holding 10,000 coins got 37.59 coins.  That's a .03759 % profit.  

There should only be one percentage based dividend payout.  It does not include any Poloniex coins.    If you were doing 2 payments because it's easier to do, let me know.  I can show you how to calculate the whole thing start to finish in about 20-30 minutes.  That doesn't include sending coins.      

I assumed that was a one month thing just until they get organized a bit better, but I agree. The 2nd payout should not be a flat rate like it is across the board. I believe they did it that way too to give little fish a larger bonus, but it is too large really, percentage-wise, as you pointed out.

They should either do a percentage as one dividend, or if they want to go the 2nd dividend route, perhaps just weight it instead of a flat scale. So little fish could still get a little more than they normally would, but not 37% or so profit. At a flat rate, that also could create greedy little fish ... meaning someone figures out if they make 50 or so small wallets, they will get more than one big wallet, based on that 2nd dividend flat rate.

The easiest way to go is just the simple percentage, minus exchanges + whale cap as one dividend.

[BITDV]

I was under the impression that all exchange (Poloniex) coins would not be counted for the bagholder payouts.  and the payouts were going to be based on the percentage of coins held.  

   I noticed this in the first month, and hoped it was just an over site on your part since this was all new.  But someone holding 100 coins got an additional 37.59 coins.  That's 37.59% profit.  Someone holding 10,000 coins got 37.59 coins.  That's a .03759 % profit.  

There should only be one percentage based dividend payout.  It does not include any Poloniex coins.    If you were doing 2 payments because it's easier to do, let me know.  I can show you how to calculate the whole thing start to finish in about 20-30 minutes.  That doesn't include sending coins.      

I assumed that was a one month thing just until they get organized a bit better, but I agree. The 2nd payout should not be a flat rate like it is across the board. I believe they did it that way too to give little fish a larger bonus, but it is too large really, percentage-wise, as you pointed out.

They should either do a percentage as one dividend, or if they want to go the 2nd dividend route, perhaps just weight it instead of a flat scale. So little fish could still get a little more than they normally would, but not 37% or so profit. At a flat rate, that also could create greedy little fish ... meaning someone figures out if they make 50 or so small wallets, they will get more than one big wallet, based on that 2nd dividend flat rate.

The easiest way to go is just the simple percentage, minus exchanges + whale cap as one dividend.

but the majority of that was a donation from JT I believe and he requested that it be share equally between bagholders , but qiwoman2 could clarify that

[poornamelessme]

but the majority of that was a donation from JT I believe and he requested that it be share equally between bagholders , but qiwoman2 could clarify that

Then it'd make more sense. As a one time thing, it's fine. Or even if it happens once in a while (sure nobody here would turn down free donated coins).

It's just if that is the setup each month, based on exchange coins only, it becomes abusable.

[istvandv]

I don't think the bagholder policy is what was voted on. 

I was under the impression that all exchange (Poloniex) coins would not be counted for the bagholder payouts.  and the payouts were going to be based on the percentage of coins held. 

There should only be one percentage based dividend payout.  It does not include any Poloniex coins.    If you were doing 2 payments because it's easier to do, let me know.  I can show you how to calculate the whole thing start to finish in about 20-30 minutes.  That doesn't include sending coins.     

the poll: Percentage based with 5% max cap on whales and 0% to exchanges

technically, it does not say Percentage based on coins held only by bagholders and by mentioning 0% to exchanges it seems to include exchanges in the equation

ideally though, i also agree that the payout % should be calculated based only on coins being held by bagholders
at the cutoff time, copy everything from http://explorer.qibuck.com/over100.php
paste it on a spreadsheet, delete addresses belonging to exchanges
then sum the "balance" column to get total coins held by bagholders
insert new column to get "% bagholder supply" and create formula based on total coins held by bagholders

[chilly2k]

I don't think the bagholder policy is what was voted on.  

I was under the impression that all exchange (Poloniex) coins would not be counted for the bagholder payouts.  and the payouts were going to be based on the percentage of coins held.  

There should only be one percentage based dividend payout.  It does not include any Poloniex coins.    If you were doing 2 payments because it's easier to do, let me know.  I can show you how to calculate the whole thing start to finish in about 20-30 minutes.  That doesn't include sending coins.      

the poll: Percentage based with 5% max cap on whales and 0% to exchanges

technically, it does not say Percentage based on coins held only by bagholders and by mentioning 0% to exchanges it seems to include exchanges in the equation

ideally though, i also agree that the payout % should be calculated based only on coins being held by bagholders
at the cutoff time, copy everything from http://explorer.qibuck.com/over100.php
paste it on a spreadsheet, delete addresses belonging to exchanges
then sum the "balance" column to get total coins held by bagholders
insert new column to get "% bagholder supply" and create formula based on total coins held by bagholders

   That's exactly what I did.  Spreadsheet wise.  And it works like a charm.  You have to first payout the 5% club then delete there entries too.  Payout based on percentage to the remainder of the bagholders with the remainder of the payout.  

The bagholder payout was supposed to be 50% of the monthly income.  It has to be based on percentage of coins held by bagholders otherwise the entire 50% would not be paid out.  

[qiwoman2]

Yes I just moved house and country and JT donated his wages and bagholder bonuses.as well we the POLO exchange amount was paid in one lump dividend.. We may change the second dividend next month and absorb it in the first amount. We kinda took it like a second dividend bonanza giveaway, like an extra bonus. So we will maybe d it more percentage based next time. We will work it out to calculate it better. Thanks for the feedback. ..I changed the OP to reflect the change back to one dividend.. Like you mentioned above, we may sometimes do a flash giveaway dividend but from the giveaway or donation pot. Today we will put up donation pots as well, in case anyone wants to donate to buy more assets in the future or for a giveaway or to the Stability Fund. Anyone wishing to donate can state what they want the donation for.

[locohammerhead]

I wanted to post an update to my mining problem.  I believe I have solved it and I might suggest you toss this onto the help section of the pool.  There is a bug in CGMiner 3.7.1 which turns out is also in a lot of ports for the FURY ASICs etc.  For the asics to work properly you need to use a version higher than that.  I am using CGMiner 4.3.5.  Been mining for about 30 minutes and I havn't seen the problem with hashrates dropping on either pool I was having problems with.

So the problem was on my end luckily but this wasn't exactly the easiest problem to figure out.

Edit: Ahh if it's not one thing, it's always another.  This may just be how the pool works so im making sure.  Are there long spurts where the pool doesn't have any work for the miners?  I ask because after a little while CGMiner 4.7.1 says the pool doesn't have any work as displays it "dead".

[qiwoman2]

I wanted to post an update to my mining problem.  I believe I have solved it and I might suggest you toss this onto the help section of the pool.  There is a bug in CGMiner 3.7.1 which turns out is also in a lot of ports for the FURY ASICs etc.  For the asics to work properly you need to use a version higher than that.  I am using CGMiner 4.3.5.  Been mining for about 30 minutes and I havn't seen the problem with hashrates dropping on either pool I was having problems with.

So the problem was on my end luckily but this wasn't exactly the easiest problem to figure out.

Thank you so much for the Update..Our mining Expert will get onto that as soon as he seas this. Thanks again for helping us with bug reports.. Please pm me your QBK addy for a little bonus bag for helping us out. . I will send it to you in the morning.

[locohammerhead]

It looks like your pool is down.

http://imgur.com/Jgxc1F3

[qiwoman2]

Only a week left to secure Founder positions, 30th Sept is the last day to apply EVER..After that the doors for FOUNDER  closes.