[JBS] Jumbucks - No IPO/ICO - Proof of Stake - Slack - DCR Stake Pool - 2+ Years

[Vindicate]

Why would anyone use this instead of ETC?

[1713497728]

1713497728

[1713497728]

1713497728

[donarito]

Interesting project.

 Correct me where Im wrong...
You are changing algo to the forked eth algo
Name change
Equal swap out
Pow only until eth writes the casper code for pos
Basically like exp? Kr? Shift? Soil?

Thanks

Hi, here is a previous response I wrote to that question here on September 12 https://bitcointalk.org/index.php?topic=865169.msg16230472#msg16230472

For the near term (at least 1 year) we intend on being Proof of Work.

Re-written now that the new name Ubiq is public:


This question has come up a few times.

Will Ubiq switch to 100% Proof of Stake when Ethereum's Proof of Stake Casper is released?

A switch to PoS isn't definite but we will evaluate and monitor Ethereum's Proof of Stake when it is released and had time to iron out any issues that may arise. A switch to PoS depends on the overall health of the Ubiq network and other factors such as ongoing distribution. It can make sense to just stay on PoW or a hybrid PoW/PoS network.

Another thing to factor in is that when Ethereum switches to PoS there will be excess mining capacity, so that can be another pro for sticking with PoW or a PoW/PoS hybrid.

Had the same question, thanks for the answer

[Mushrooms]

What is this coin for? How anyone can use it?

[block_talk]

Why would anyone use this instead of ETC?

This coin differs from ETC by having a fair distribution of coins. There is no developer premine, no funds obtained from exploits and no issues with replay attacks.
Also the improvements to the consensus systems will help with securing the chain and providing confirmations to exchanges. I wouldn't be surprised to see these improvements merged to other ethereum code bases

What is this coin for? How anyone can use it?

The coin is a currency for a lasting community from early in the altcoin days, jumbucks gets used quite regularly for tipping and friendly bets in the slack. Their have been several beta apps for the old code base that proved to be limited by the bitcoin code base to warrant further development. So in addition to the contracts developed in solidity being used, there will be several existing apps rewritten and services in place to provide value and use cases.

[Cryptofi$h]

Let me know if you need a Canadian translation Dev.   

[Golftech]

Why would anyone use this instead of ETC?

This coin differs from ETC by having a fair distribution of coins. There is no developer premine, no funds obtained from exploits and no issues with replay attacks.
Also the improvements to the consensus systems will help with securing the chain and providing confirmations to exchanges. I wouldn't be surprised to see these improvements merged to other ethereum code bases

What is this coin for? How anyone can use it?

The coin is a currency for a lasting community from early in the altcoin days, jumbucks gets used quite regularly for tipping and friendly bets in the slack. Their have been several beta apps for the old code base that proved to be limited by the bitcoin code base to warrant further development. So in addition to the contracts developed in solidity being used, there will be several existing apps rewritten and services in place to provide value and use cases.

so nice to understand your explanation theres more room for achieving this purposes and let the coin state its value i guess it will make it success.

[Mushrooms]

Why would anyone use this instead of ETC?

This coin differs from ETC by having a fair distribution of coins.

Well, not actually true: https://chainz.cryptoid.info/jbs/#!rich
As you can see in block explorer Top 100 addresses have 98.27% of coins.
How can we say that this coin is fairly distributed if only 100 people of 7,000,000,000 control almost 100% ?

[midnight_miner]

Let me know if you need a Canadian translation Dev.   

Too funnie, eh!

[Tanglemymind]

Why would anyone use this instead of ETC?

This coin differs from ETC by having a fair distribution of coins.

Well, not actually true: https://chainz.cryptoid.info/jbs/#!rich
As you can see in block explorer Top 100 addresses have 98.27% of coins.
How can we say that this coin is fairly distributed if only 100 people of 7,000,000,000 control almost 100% ?

You can be in the top 20 by just filling your wallet with jumbucks on the cheap.
You only need 2,000 coins to be in your top 100, haha
Lets be fair when analyzing numbers.

[jyap]

Round 12 DCR stake pool pay out complete

14.82259281 DCR sold for 0.02519914 BTC
210.77928822 JBS bought for 0.02518601 BTC

.. except i kinda messed up and sent out 556.6492266 JBS total instead of 210.77928822 JBS. this will be reflected in later payouts.


The pool is slowly growing and represents 4.401% of all live Decred staking tickets.

So far the pool has paid out over 5546.94667026 DCR in total stake subsidy.

The pool was officially announced and opened on July 18, 2016, 11:18:29 AM.

Sign up today at: http://dcrstakepool.getjumbucks.com

If you require assistance, we are always happy to help in Jumbucks Slack.

Sign up to Jumbucks Slack to be a part of a growing community of over 640 crypto enthusiasts and Jumbucks fans!

Round 13 complete

18.08455276 DCR sold for 0.03255219 BTC
333.96490665 JBS bought for 0.03255209 BTC

This was more an adjustment round since I overpaid the last round. JBS payouts will resume next round.


The pool is slowly growing and represents 4.332% of all live Decred staking tickets.

So far the pool has paid out over 6486.45505826 DCR in total stake subsidy.

The pool was officially announced and opened on July 18, 2016, 11:18:29 AM.

Sign up today at: http://dcrstakepool.getjumbucks.com

If you require assistance, we are always happy to help in Jumbucks Slack.

Sign up to Jumbucks Slack to be a part of a growing community of over 650 crypto enthusiasts and Jumbucks fans!

[nbruce]

I just bought some jumbucks from bittrex.  I withdrew them to my coinomi app but despite multiple confirmations, the coins do not appear in coinomi.  I contacted coinomi support and they say the jumbucks community supported back end server is down and they can do nothing.  How do I get my coins back?

[Daffadile]

I just bought some jumbucks from bittrex.  I withdrew them to my coinomi app but despite multiple confirmations, the coins do not appear in coinomi.  I contacted coinomi support and they say the jumbucks community supported back end server is down and they can do nothing.  How do I get my coins back?

I don't really think jambucks is such a good invesment there is not so much interest in it. Just look at this thread and its 2 years old...
I never have even heard of this coin till a little while ago.

[blk247]

I just bought some jumbucks from bittrex.  I withdrew them to my coinomi app but despite multiple confirmations, the coins do not appear in coinomi.  I contacted coinomi support and they say the jumbucks community supported back end server is down and they can do nothing.  How do I get my coins back?

I don't really think jambucks is such a good invesment there is not so much interest in it. Just look at this thread and its 2 years old...
I never have even heard of this coin till a little while ago.

check their slack - its very active.
or look here
https://bitcointalk.org/index.php?topic=1631210.0

[mybitcoin101]

I just bought some jumbucks from bittrex.  I withdrew them to my coinomi app but despite multiple confirmations, the coins do not appear in coinomi.  I contacted coinomi support and they say the jumbucks community supported back end server is down and they can do nothing.  How do I get my coins back?

I don't really think jambucks is such a good invesment there is not so much interest in it. Just look at this thread and its 2 years old...
I never have even heard of this coin till a little while ago.

bitcointalk is dying. your post shows why. projects have moved off bct in record numbers. there is no life on bct and its full of sock puppets pumping their own holdings while talking trash on others

[jyap]

I just bought some jumbucks from bittrex.  I withdrew them to my coinomi app but despite multiple confirmations, the coins do not appear in coinomi.  I contacted coinomi support and they say the jumbucks community supported back end server is down and they can do nothing.  How do I get my coins back?

I don't really think jambucks is such a good invesment there is not so much interest in it. Just look at this thread and its 2 years old...
I never have even heard of this coin till a little while ago.

bitcointalk is dying. your post shows why. projects have moved off bct in record numbers. there is no life on bct and its full of sock puppets pumping their own holdings while talking trash on others

This is true. Jumbucks/Ubiq has an active life outside of Bitcointalk. Most "active" coin threads in BCT are people just having conversation style chats... Which works better in something like Slack or IRC. Small side effect is the BCT thread doesn't get bumped as much.

[nbruce]

Thanks for your replies.  I came here so I didn't have to set up new accounts and find people in the latest social media buzzword of the day.
What I can't understand is why my coinomi wallet depends on one server. For the transaction to get so many confirmations shows the network is up, so what's coinomis problem?  I think I'll just hold coins at bittrex in future,  rather than search for the elusive multi currency wallet.
Thanks again.

[jyap]

Thanks for your replies.  I came here so I didn't have to set up new accounts and find people in the latest social media buzzword of the day.
What I can't understand is why my coinomi wallet depends on one server. For the transaction to get so many confirmations shows the network is up, so what's coinomis problem?  I think I'll just hold coins at bittrex in future,  rather than search for the elusive multi currency wallet.
Thanks again.

hey nbruce,

coinomi runs on a modified electrum server. unfortunately us VERY slow and often has issues which requires it to re-sync from scratch.. this take a long time.

I'm sync'ing it up now. it'll be a while.

see below

Code:

INFO:electrum:catch_up: block 318000 (223.445s 23.535s) 7550365bf892e8b2dde60434ec142bc1f5b0ba78c98b0dd371b2e6e32c84c8d6
INFO:electrum:catch_up: block 319000 (228.338s 23.310s) 276f6c44b3e96e75538864a8a414b3c1a7a219b078ffa89e771eb81642190cba
INFO:electrum:catch_up: block 320000 (226.163s 24.435s) b59202651c86f71c8e7ccc648b593defdc52369e423831f0ba2c6e68e407f0aa
INFO:electrum:catch_up: block 321000 (215.273s 25.197s) 69fb5a5a91c706717338fdceed2df5ddf35395db30115409e5be240dc2a3011d
INFO:electrum:catch_up: block 322000 (220.211s 25.818s) 8a769afc7a285909596a41ed25b2f49a20c4b62b4cb7514c3da124a862dc7605

[jyap]

Mentioned a few days ago in Slack:

quick update on development.
 - Geth 1.5 is out with some new features. I'll look to port Ubiq to use this codebase.
 - Going to take a look at implementing some monetary policy for mining.
 - ETH hard fork is in 4.7 days. Going to observe that goes OK with no issues.
 - Schedule launch and other items.

[jyap]

Planning to release a new Testnet around < 24 hrs from now. There will be new binaries.

This is also planned to be the final Testnet release so consider it a final Beta release as well

Main changes are:

• Based on the latest geth 1.5.x
• Some minor code clean up and changes.
• Now known as gubiq (instead of gjbsee). Repo link: https://github.com/ubiq/go-ubiq/
• Live testing of monetary policy block rewards (this is opposed to Ethereum and other forks which have a fixed block reward). For now this steps down from 8 to 5 in increments of 1000 blocks. This will be modified in the main network. so in Testnet:
  
  • blocks 1-1000 = 8 UBQ
  • blocks 1001-2000 = 7 UBQ
  • blocks 2001-3000 = 6 UBQ
  • blocks 3001 onwards = 5 UBQ
• I ran some tests last night and things look good.

Some log lines:

Code:

AccumulateRewards block number: 995 Rewards: 8
AccumulateRewards block number: 996 Rewards: 8
AccumulateRewards block number: 997 Rewards: 8
AccumulateRewards block number: 998 Rewards: 8
AccumulateRewards block number: 999 Rewards: 8
AccumulateRewards block number: 1000 Rewards: 8
AccumulateRewards block number: 1001 Rewards: 7
AccumulateRewards block number: 1002 Rewards: 7
AccumulateRewards block number: 1003 Rewards: 7
...
AccumulateRewards block number: 1999 Rewards: 7
AccumulateRewards block number: 2000 Rewards: 7
AccumulateRewards block number: 2001 Rewards: 6
AccumulateRewards block number: 2002 Rewards: 6
AccumulateRewards block number: 2003 Rewards: 6

Started porting some changes to a mining pool as well:

https://github.com/ubiq/open-ethereum-pool/commit/d38fd5adbb927551e4a1065105d7d5844d56f9fb

[jyap]

Final Testnet was launched the other night.

It is ready for testing: https://github.com/ubiq/go-ubiq/releases/tag/v1.5.4-BETA

Successfully transitioning from block 1000 to block 1001 with a different reward.