[ANN] QIBUCK COIN - X13 - POS/POBH - 1st Proof of Baghold

[qiwoman2]

I think it's overflow from all the trollers piling into the XC threads due to Blocknet.  They must not own any QBK or they would feel like idiots trolling this coin.

Also a note to FUDDERS appearing from the XC Thread please note we delete all your FUD posts as this is a self moderated thread so please waste your time elsewhere thanks. We own XC and we are working with XC so please back off our thread, we don't fud your coin! Sorry if I don't sound too polite but enough is enough.

He was one of the old hardcore fudsters used to come in our thread all the time and pound it but that era is over now. Also changes are coming to QBK to make it even more proof of baghold rather than proof of dump. Stay tuned.

[1714676837]

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[TheGer]

I'm waiting for that change.

Funny thing is that regardless of dumping or manipulation or fudsters, the investments still generate income and we all still get our bonuses...  Silly rabbits don't understand.

I think it's overflow from all the trollers piling into the XC threads due to Blocknet.  They must not own any QBK or they would feel like idiots trolling this coin.

Also a note to FUDDERS appearing from the XC Thread please note we delete all your FUD posts as this is a self moderated thread so please waste your time elsewhere thanks. We own XC and we are working with XC so please back off our thread, we don't fud your coin! Sorry if I don't sound too polite but enough is enough.

He was one of the old hardcore fudsters used to come in our thread all the time and pound it but that era is over now. Also changes are coming to QBK to make it even more proof of baghold rather than proof of dump. Stay tuned.

[poornamelessme]

I sort of haven't been paying attention to alts or this forum for a little while... and see there is a new thread now. Mixed feelings about that, as I tend to think it's best to just stick it out with the original thread, or go moderated from the start, than switch after several months. But what done is done.

Anyway, just wanted to comment on the idea of requiring folks to hold coins for a longer period to get a payout. I'd suggest instead that the timeframe remain the same for base rewards, but adjusting payouts so that those who hold longer receive a greater bonus. That way you don't necessarily lock up coins in wallets seemingly forever, yet still provide an incentive to hold. The idea behind any crypto should be so it can be used as a currency in some fashion, and yes, I'm of course aware this coin is probably closer to a mutual fund than a currency... still... just wanted to comment that if a longer term hold is put in place, it shouldn't be so restrictive as to make people never, ever, want to use their coins or take them out of their wallets.

[rokkyroad]

I sort of haven't been paying attention to alts or this forum for a little while... and see there is a new thread now. Mixed feelings about that, as I tend to think it's best to just stick it out with the original thread, or go moderated from the start, than switch after several months. But what done is done.

Anyway, just wanted to comment on the idea of requiring folks to hold coins for a longer period to get a payout. I'd suggest instead that the timeframe remain the same for base rewards, but adjusting payouts so that those who hold longer receive a greater bonus. That way you don't necessarily lock up coins in wallets seemingly forever, yet still provide an incentive to hold. The idea behind any crypto should be so it can be used as a currency in some fashion, and yes, I'm of course aware this coin is probably closer to a mutual fund than a currency... still... just wanted to comment that if a longer term hold is put in place, it shouldn't be so restrictive as to make people never, ever, want to use their coins or take them out of their wallets.

I don't see anything wrong with imposing a minimum amount of coins kept in the wallet 100% of the time.  People can buy more coins to trade with. Seems fair considering the bagholder payouts are decent.
This should end the cycle of pump and crash near the times of payouts while creating a healthier trading scenario.

[poornamelessme]

I don't see anything wrong with imposing a minimum amount of coins kept in the wallet 100% of the time.  People can buy more coins to trade with. Seems fair considering the bagholder payouts are decent.
This should end the cycle of pump and crash near the times of payouts while creating a healthier trading scenario.

If you are talking about a percentage of total coins need to be kept, such as if I have 1000 coins, I need to keep 25% of that in my wallet all the time, that is certainly one alternative. That is doable, although that could add to a bit of confusion when it comes to payout time (such as someone buying a ton of coins before payout, then wondering why they aren't getting rewards that month).

If you mean keeping the entirety of your coins in the wallet 100% of the time, for any reward, I'd be against it. For an extra bonus, sure, it's fine ... just shouldn't be a requirement for payout though.

There are other things they could do too, if they have the funds available. Such as contests -- perhaps those who keep the majority of their coins in their wallet for the entire month could be entered in a raffle for nice items, or something like that. That would fall under the 'bonus' idea I mentioned, where it's sort of a nice extra, but not a definite requirement.

[rokkyroad]

I don't see anything wrong with imposing a minimum amount of coins kept in the wallet 100% of the time.  People can buy more coins to trade with. Seems fair considering the bagholder payouts are decent.
This should end the cycle of pump and crash near the times of payouts while creating a healthier trading scenario.

If you are talking about a percentage of total coins need to be kept, such as if I have 1000 coins, I need to keep 25% of that in my wallet all the time, that is certainly one alternative. That is doable, although that could add to a bit of confusion when it comes to payout time (such as someone buying a ton of coins before payout, then wondering why they aren't getting rewards that month).

If you mean keeping the entirety of your coins in the wallet 100% of the time, for any reward, I'd be against it. For an extra bonus, sure, it's fine ... just shouldn't be a requirement for payout though.

There are other things they could do too, if they have the funds available. Such as contests -- perhaps those who keep the majority of their coins in their wallet for the entire month could be entered in a raffle for nice items, or something like that. That would fall under the 'bonus' idea I mentioned, where it's sort of a nice extra, but not a definite requirement.

I was thinking if you need to have 1000 coins for bagholder status, this should be the minimum balance per month to receive bagholder payouts.  I thought this was the original purpose of the coin.  Think of it like a term deposit in a bank. If you don't touch the funds you receive the interest payment for whatever interest rate/time frame you have chosen.

Should people be rewarded for keeping a higher amount of coins permanently? Absolutely. Not sure about the logistics of such.

Those who want to day trade can buy more coins. 

You don't want to stabilize to the point of flat lining the price but you still want to encourage trading, especially buying.

If people know they can receive a (somewhat) guaranteed income from their savings, more people will invest. Bagholding may not be the best terminology either.

[poornamelessme]

I was thinking if you need to have 1000 coins for bagholder status, this should be the minimum balance per month to receive bagholder payouts.  I thought this was the original purpose of the coin.  Think of it like a term deposit in a bank. If you don't touch the funds you receive the interest payment for whatever interest rate/time frame you have chosen.

Should people be rewarded for keeping a higher amount of coins permanently? Absolutely. Not sure about the logistics of such.

Those who want to day trade can buy more coins. 

You don't want to stabilize to the point of flat lining the price but you still want to encourage trading, especially buying.

If people know they can receive a (somewhat) guaranteed income from their savings, more people will invest. Bagholding may not be the best terminology either.

I view the coin more as a mutual fund than a bank/interest type of setup myself. It'd probably be better to just call rewards 'giveaways' (think Unity did that, to get around any possible legal issues). Still... maybe it's just me, but I think a crypto should be used or at least thought of as a currency too. You don't want a situation where there is no volume at all on a coin, because everyone is keeping them tucked away in their wallets, all the time.

I do agree that bagholding isn't the best terminology either. It sounds sort of cute, and was fine when the coin was new, but it doesn't really sound professional and of course it has negative connotations.

[rokkyroad]

I view the coin more as a mutual fund than a bank/interest type of setup myself. It'd probably be better to just call rewards 'giveaways' (think Unity did that, to get around any possible legal issues). Still... maybe it's just me, but I think a crypto should be used or at least thought of as a currency too. You don't want a situation where there is no volume at all on a coin, because everyone is keeping them tucked away in their wallets, all the time.

I do agree that bagholding isn't the best terminology either. It sounds sort of cute, and was fine when the coin was new, but it doesn't really sound professional and of course it has negative connotations.
[/quote]

I think this coin's strong suit is being an investment vehicle. There is too much competition from very strong coins and communities hoping to become mainstream currencies.

We will be lucky if bitcoin ever becomes mainstream let alone the little guys.

Qibuck coin has taken a different route and it is working. Somehow they need to bring in more revenue relative to coin supply.

The ipo funds are used up I assume. How will they maintain bagholder payouts as more coins are bought and held, opens another can of worms. Will it be like pouring more water into the soup to feed an extra quest?

[TheGer]

I think focusing on QBK as a coin first is a mistake at this point.  There are to many coins with multiple features that will always out'tech QBK.  We've seen for 2 months now QBK shine as an investment coin with great returns.  This should be focus #1. 

They have displayed a proven method of occupying the crypto world.  Only 1 other coin I know of(ABC2) is attempting this methodology. 

Bonuses can be taken and spent any way a person wants after payment.  They can even be used to take advantage of the top tech in the market should Blocknet materialize as advertised.  So far QBK has a winning model.  As long as they continue to deliver there's no need to change it.

Other than implement techniques for preventing people from gaming the system.

[silverkinguk]

That isn't our Bitcoin ATM numpty.Our one will be placed in UK.
Time to delete your worthless post Molay.Done.

http://www.coindesk.com/diamond-circle-launches-first-cashless-bitcoin-atm/

Get the real facts next time.

[qiwoman2]

We have had lengthy discussions with our Team on the best way forward. Crypto Currency is an experience and an experiment and we evolve along with our coins. We see what works and what doesn't and tweak accordingly to try to make things better. We do have some tech improvements overdue for our wallet and our DEV has promised to get them done once he finishes another important project he is involved in soon.

Secondly we have read and taken many comments into account but yes as most of you have stated, QBK Coin primarily is aimed at being a store of wealth at this point then once that is firmly established we will go more into the Consumer side of the Coin. There are many people that can't and don't trade and just want to put their money somewhere to earn and generate some revenues, like you would in a savings account or bank. What we saw in the last cash out/ massive dump is NOT what we envisaged for the Coin. So for this reason we have come to a conclusion that those who are interested in a store of wealth coin will remain, those who want a quick pump and dump can probably find a plethora of coins to play with.

Our aim primarily is a long term holder market who want to earn consistent revenues on a yearly basis and who can enjoy a slow appreciation of the value of the coin, plus the small POS, all making it an all rounder profitable coin. Yes we want some room for trading also that is why there will be some leeway in terms of bagholders being able to sell their POS coins from their bagholder accounts and also they can buy more coins up to keep on POLO or any other exchanges we may get in the foreseeable future. We will also be setting up our forum this month where we will host many contest's, giveaways, incentives etc.

 We have also come up with the best solution that A) Frees up a lot of our time so we can really focus on what we need to do best - generating income and B) Decreases the monthly dumping bonanza. Later today we will reveal the new BAGHOLDER TERMS. Also the term proof of baghold is what makes our coin unique and that is our contribution to Crypto that most of our Supporters don't want changed.  .

[qiwoman2]

PLEASE READ NEW BAGHOLDER TERMS.. 

http://bitbillions.net/2014/10/25/altcoin-news-qibuck-coin-announces-new-bagholder-terms/

[evdokia800]

I think this is a good offer for long term qbk holders

[Bittzy78]

PLEASE READ NEW BAGHOLDER TERMS..  

http://bitbillions.net/2014/10/25/altcoin-news-qibuck-coin-announces-new-bagholder-terms/

I know that some people are going to have a little trouble with these new rules, but the rules are for the best. It is too easy with the old rules to swoop in and out of being a QBK bagholder. We are now going to get some dedicated people who are interested in locking the the float, getting a good return on their coins and are also interested in the long term wherewithal of QBK going forward.

Good Move !

[silverkinguk]

I approve of these changes that will further Qibuck initiatives to better the world and,one day,become a household name.

[naidledoes]

How is any newcomer to see any dissent? This moderated thread plus changes to bagholder terms are shit. As an original ICO investor I am very disappointed. I am no longer interested in holding this coin. I will say thank you for the .24 btc profit and go. Maybe I'll buy back in later. But all these changes have me spooked atm.
I doubt this post will even stay. I wonder how many other people have expressed their opinions that don't align with what YOU think they should. Seems a little dead in this thread since the other one was locked. Pls realize there is a difference between misinformation,  fud, and expressing personal opinions. The latter of which is one of the main reasons people visit these forums...
Goodluck I'm out. And thanks for telling me about HIT.
Also, get a new logo. The woman holding a briefcase logo is very silly, and absolutely does not represent what this coin does. I'll make you one for 1k qbk.

[qiwoman2]

How is any newcomer to see any dissent? This moderated thread plus changes to bagholder terms are shit. As an original ICO investor I am very disappointed. I am no longer interested in holding this coin. I will say thank you for the .24 btc profit and go. Maybe I'll buy back in later. But all these changes have me spooked atm.
I doubt this post will even stay. I wonder how many other people have expressed their opinions that don't align with what YOU think they should. Seems a little dead in this thread since the other one was locked. Pls realize there is a difference between misinformation,  fud, and expressing personal opinions. The latter of which is one of the main reasons people visit these forums...
Goodluck I'm out. And thanks for telling me about HIT.
Also, get a new logo. The woman holding a briefcase logo is very silly, and absolutely does not represent what this coin does. I'll make you one for 1k qbk.

You are welcome to post your point of view. All we ask is for politeness. We want this coin to be a success for Everyone concerned and after great deliberation with all our Team, we decided this was the best way forward in creating a more solid long term hold coin. Thanks for your opinion. God luck in your Crypto Collecting. Thank you for being with us for the duration you were here. If you decide to come back you are always welcome.

We might set up a qbk trading thread in the marketplace section so people who want to sell their coins but not dump on the market may be able to find other buyers interested. We will see about doing this after the weekend.

[chilly2k]

    Thoughts on a wallet enhancement.  Since QBK is not a technically advanced coin, my first thought was why even think about any wallet changes.  The team should be looking for other ways it increase holder value.  But while looking over the new changes coming it occurred to me.  All of this bagholder stuff should be built into the coin/wallet. 

    The main page could show spendable: bagholding: stake: and unconfirmed: .  The send page could have some way to send the coins to baghold status.  Then the receive page could get them from bagholder status.    We could make it slick and have the option to stake baghold QBK to the baghold total or to the spendable coinds.   Also be able to provide all of the bagholder info right in the wallet.  Of course there should be all kinds of warnings etc, when the user does any of this.  One of the warning would be removing coins from the bagholder status could affect your quarterly gift. 

   Under the covers I was imagining a separate wallet address that would have an indicator that it was the bagholder address.  Any transfers into or out of bagholder status would just be to/from that address.  If it's feasible we could have the bagholder info in each baghold transaction.  The last block would be considered the latest for use during the quarterly payout processing. 

   Then at the backend, I'm think the QBK team would have a script/program they could run that could extract all of the info needed to do the payout processing.  They could figure out the lowest Bagholder balance for the payout (+stakes).  And this could all be automated,  No more cutting and pasting screen shots, and checking balances to make sure everyone is playing nice.  It would also be based on block times, and not when someone remembers to capture a screen. 

  I am not a Coin developer, and I to not profess to understand how the blockchain and wallets work, I just have a basic knowledge from reading forums.  Soi the technical details are just my ramblings. 

   I just wanted to get it out there and see what everyone thinks. 

               Thanks               

[TheGer]

I like the new terms but I do feel that it should still be monthly.  I think protecting market value and stability, has to be balanced with flexibility for the end user as well.  

A 3 month term I think will unnecessarily stagnate the market.  Allowing people to be able to come and go on a monthly basis will help maintain viability to attract newcomers and keep markets flexible.  There are not many people who will want to buy QBK knowing they have to wait 3 months for a payment.  On top of that there are people who accumulate over time due to trading or investing at intervals that slowly build their bags and would not like such a long wait for returns.  

3 month terms may hurt the goals you are hoping for long term in the following ways:

Investment interest from new people will waiver
People may exit not wanting to wait so long for bonuses
Potential short term increase in price, but long term decline as few people invest while less patient/otherwise obligated people sell(lowering the price because of fewer buyers)
Volume on markets will sink drastically potentially courting delisting due to no/low volumes

Monthly accounting does require a little extra work, but the benefits to end users are I think worth it.  Also, people will personally want to be able to evaluate the performance of their investment monthly to ensure it is garnering returns they find acceptable.  In 3 month periods people start to get antsy in crypto, and that in itself may cause a certain amount of selloff.

Please reconsider going back to monthly.

[hobbyminer67]

    Thoughts on a wallet enhancement.  Since QBK is not a technically advanced coin, my first thought was why even think about any wallet changes.  The team should be looking for other ways it increase holder value.  But while looking over the new changes coming it occurred to me.  All of this bagholder stuff should be built into the coin/wallet. 

    The main page could show spendable: bagholding: stake: and unconfirmed: .  The send page could have some way to send the coins to baghold status.  Then the receive page could get them from bagholder status.    We could make it slick and have the option to stake baghold QBK to the baghold total or to the spendable coinds.   Also be able to provide all of the bagholder info right in the wallet.  Of course there should be all kinds of warnings etc, when the user does any of this.  One of the warning would be removing coins from the bagholder status could affect your quarterly gift. 

   Under the covers I was imagining a separate wallet address that would have an indicator that it was the bagholder address.  Any transfers into or out of bagholder status would just be to/from that address.  If it's feasible we could have the bagholder info in each baghold transaction.  The last block would be considered the latest for use during the quarterly payout processing. 

   Then at the backend, I'm think the QBK team would have a script/program they could run that could extract all of the info needed to do the payout processing.  They could figure out the lowest Bagholder balance for the payout (+stakes).  And this could all be automated,  No more cutting and pasting screen shots, and checking balances to make sure everyone is playing nice.  It would also be based on block times, and not when someone remembers to capture a screen. 

  I am not a Coin developer, and I to not profess to understand how the blockchain and wallets work, I just have a basic knowledge from reading forums.  Soi the technical details are just my ramblings. 

   I just wanted to get it out there and see what everyone thinks. 

               Thanks               

I have no idea how hard it would be to do, but it does sound really good and useful, great idea.