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

[mikeymillie]

Why is this coin called CoinMarketsCoin and has a different logo on it on Cryptsy? 

[1715115365]

1715115365

[1715115365]

1715115365

[jyap]

Why is this coin called CoinMarketsCoin and has a different logo on it on Cryptsy? 

That was the original name.

It went through a rebrand.
https://bitcointalk.org/index.php?topic=765082.msg9307414#msg9307414

We've asked Cryptsy to update their site.... But yeah, Cryptsy.

[J9901]

This started as a Coinmarkets joke coin with a ticker of JBS. Probably meant for Jebus or something equally stupid.

Now you want people to start taking this shitcoin seriously? LOL you do u really think a rebrand will do it?

Should've started a new coin entirely, also not so much inside-traded as this one.

[KeyserSozeMC]

This started as a Coinmarkets joke coin with a ticker of JBS. Probably meant for Jebus or something equally stupid.

Now you want people to start taking this shitcoin seriously? LOL you do u really think a rebrand will do it?

Should've started a new coin entirely, also not so much inside-traded as this one.

Hey man, like you said. This coin started like a joke.

You haven't been involved much with this specific project, I must say. You'd see that it's not a joke coin actually, because the developer, Julian, is still around and working on it. How many "joke" coins did survive? How many coin devs from "serious" coins are still backing the same coin they made?

Check this: https://twitter.com/search?f=realtime&q=%24jbs&src=typd
Read for about 3 minutes and you'll see what is jyap trying to achieve.

It's not nice to jump on conclusions like that ;p
I could keep going and going on, but it's not important atm.
When he made #Jebus IRC chan, we were like 6-7 persons in there. Now the channel has more than 50 active persons.
Including some known twitter people.

In JBS I trust.

Peace!

-KSMC

[jyap]

Jumbucks featured on the front page of BraveNewCoin!

Here is a link to the article:

http://bravenewcoin.com/news/jumbucks-does-something-a-little-different/

[avw1982]

Jumbucks featured on the front page of BraveNewCoin!

Here is a link to the article:

http://bravenewcoin.com/news/jumbucks-does-something-a-little-different/

Nice site also. Didn't know that one.

[rahmad2nd]

how much max supply JBS 

[Cloakko]

It's a POS coin with an annual interest rate of 8%.

The actual amount of coin in circulation is 3,313,792 JBS

as you can see here: http://coinmarketcap.com/currencies/coinmarketscoin/

[jyap]

The latest addition to the Jumbucks Official Cooperative Multipool is Quicksilver (ticker $QSLV).

This means that the Quicksilver community can point their miners at the Jumbucks multipool (http://mp.getjumbucks.com), insert a Quicksilver address, and receive Quicksilver in payment for their hashrate.  A small fee of 5% of the hashrate will go towards the Jumbucks miners, as payment for the service.

[jyap]

Jumbucks Christmas Staking Giveaway! Merry Stakemas!

As the holiday season approaches, Jumbucks is the gift that keeps on giving! By staking your Jumbucks ($JBS), you become part of a close-knit crypto community focused upon achieving real-world adoption through new use cases and technical innovation.To celebrate the holiday season, and to thank each member of the Jumbucks community for their continued support, we are gifting 200 $JBS to every wallet which has staked coins in the past 2 weeks, and 100 $JBS to everyone who stakes from now until Christmas! (Limit 1 claim per person)

In addition to receiving a holiday gift, staking your Jumbucks continues to reward you with the following perks:
· 8% interest on your $JBS balance
· Securing and strengthening the Jumbucks’ network.
· Being part of the Digital FX Revolution!

To receive a Jumbucks holiday gift, simply register with this form, stake your coins for the next week, and then awake to a surprise on Christmas morning!

Thank you for your continued support of Jumbucks. We hope that you and your loved ones have a great holiday season, and an even better start to 2015.

Merry Stakemas, everyone!

Fill out this form NOW to participate in the Jumbucks Christmas Staking Giveaway!

[jyap]

https://twitter.com/altmarketdotcom/status/546082076902952960

https://altmarket.com/docs/AltMarket_Update_Dec2014.pdf

It's worth the read.  Jumbucks will be on the upcoming Altmarket.com.

[CountofMonteCrypto]

Keep up the great work Julian.

Have been a supporter of this coin from launch and like the direction we are headed. Took the initiative to give away 5 packs of the Crypto Community Cards on twitter to raise awareness. Has been a great experience met a lot of great people in crypto and learned a lot about the history of bitcoin and crypto. For all those just finding Jumbucks you'll find Julian to be honest and approachable hence why I call him "THE TRUTH" and it stuck. There is still one giveaway open on twitter here https://twitter.com/m_ad_04m_ax_/status/546372236504887296 RT and reply for a chance to win.

[jyap]

All participants in the Jumbucks Christmas Staking Giveaway have all been paid. Thank you all for your continued support

[jyap]

Jumbucks Multipool Is Now The Official Multipool For Unobtanium!

The Unobtanium community is excited to announce the selection of the Jumbucks Multicoin Multipool as an official UNO pool for X11 and Scrypt miners!

"The Jumbucks community is pleased to announce the addition of Unobtanium (UNO) to the growing list of coins integrated into the Jumbucks Multicoin Multipool. Beginning immediately, miners can elect to receive Unobtanium payouts for the mining hash they contribute to the multipool," said Julian Yap, the founder of Jumbucks.

"While the Jumbucks multipool will not be mining Unobtanium directly, Scrypt and X11 miners can now accumulate UNO through their mining activities," said Falling Knife, UNO's Community Manager.  "Jumbuck's UNO payouts will be acquired through buys from the market, and this consistent buying pressure will further support the price of Unobtanium. This collaboration between the Unobtanium and Jumbucks’ communities is an exciting new option to buoy the price of UNO."

Unobtanium is a long time top-50 cryptocurrency on CoinMarketCap.com. Fairly launched in 2013 with no pre-mine, and with an active community and developers, Unobtanium is a rare Sha256d cryptocurrency that has passed through its inflationary phase. Only 250,000 UNO will ever be produced in 300 years.  Its unique non-inflationary characteristics have attracted bullion enthusiasts, miners, and long term investors to the Unobtanium community.

Jumbucks is a Fair Launch cryptocurrency which launched without an IPO and with zero premine.  Jumbucks currently runs as 100% Proof of Stake, and is currently traded on Bittrex, Cryptsy and will be available at launch on the upcoming AltMarket.com.  Find out more information at GetJumbucks.com.

To get started, miners can point their X11 and Scrypt hash at the Jumbucks multipool, using their UNO deposit address in place of the username.  Learn more about mining for Unobtanium payouts at http://mp.getjumbucks.com.

For more information on Unobtanium and to engage in the community, visit http://unobtanium.uno.

[jyap]

Charlie Shrem bought a few packs of cards.

Here is his tweet:
https://twitter.com/CharlieShrem/status/554833189181882369

We still have a few packs left. (Not that many).

You can get them from:

http://cryptochips.net

[jyap]

Blockparser is a utility I've used to create rich lists. Here is a fork I made with Jumbucks support

https://github.com/jyap808/blockparser

EDIT: This has been merged in the official project https://github.com/znort987/blockparser

Sample output.

Code:

$ ./parser allBalances 

info: starting command "allBalances"
info: initializing hash tables
info: estimated number of blocks = 1.65K
info: estimated number of transactions = 0.26M
info: pass 1 -- walk all blocks and build headers ...
info: pass 1 -- took 156 secs, 219349 blocks, 0.12 Gigs, 0.77 Megs/secs                                             
info: pass 2 -- link all blocks ...
info: pass 2 -- done, did 0 late links
info: pass 3 -- wire longest chain ...
info: pass 3 -- done, maxHeight=214892
info: pass 4 -- full blockchain analysis ...
info: computing balance for all addresses
info:        1 blocks,    0.000 MegaAddrs ,   0.00% , elapsed =  0.00s , eta =  -nans , 
info: sorting by balance ...
info: dumping all balances ...
---------------------------------------------------------------------------------------------------------------------------------------------------------------------
                 Balance                                  Hash160                             Base58   nbIn lastTimeIn                 nbOut lastTimeOut
---------------------------------------------------------------------------------------------------------------------------------------------------------------------
         330896.16000000 fd08dd7eca1e74bb3d6ce3918394dd4d796d33ff JhbrvAmM7kNpwA6wD5KoAsbtikLWWMNPcM     11 Sat Sep 27 18:57:38 2014       8 Mon Dec 22 14:58:30 2014
         269006.11541405 5aa5ada8189f6b8f993a37c01b3e95bd2bd802ee JSoEdU717hvz8KQVq2HfcqV9A79Wihzusu     14 Tue Jan 13 04:26:23 2015       9 Fri Jan  9 22:16:59 2015
         186342.90000000 577b0a14f8d23aeaf9f97d9be36b5cab407e045c JSWVXHWeYNknPdG9uDrcBoZHztKMFCsndw      6 Mon Dec  8 23:24:24 2014       4 Wed Dec 17 22:53:06 2014
         107501.00000000 3c9dd11a9693c152601e9ff569fdca5c803d9081 JQ4SwV3CpvHs9kHzY3sZhZdgb5yWBa6ZXM      1 Fri Jan  9 04:02:37 2015       0 Thu Jan  1 00:00:00 1970
          62688.19705628 580184c9040e04cdfbc3d6a85507be90920163b7 JSZGd57bBNdLQktcvRKXMDdx9egFZAzYG3   1503 Wed Dec 31 00:00:09 2014    1256 Wed Dec 31 00:00:09 2014
          60639.00000000 f2f3fb79d6159f4e1e913e0a0d12ebe083073ec5 JggZ9HL8mshfZc4NyidrMKjeUBFtDdkySF      8 Fri Nov  7 14:48:50 2014       7 Mon Nov 10 09:09:38 2014
          57588.17483961 9689343517c7e61dc566265223fdde460003e68b JYFu4YLn4jqwT6eqprYBD5kZ3sUZ6VcSkH  26818 Tue Jan 13 07:05:53 2015   26599 Tue Jan 13 07:05:53 2015
          57049.84879243 7866143d49c22f335ffbdef924087254f5523136 JVWYiGT1Z6ktdaF8C4n9gTsjRQHpajSYNE   2941 Wed Dec 31 02:27:18 2014    2683 Wed Dec 31 02:27:18 2014
          55000.00000000 c93df02a68edd310bc4d837b238b24974a510b81 Jct1MmNjfTtzSrppcvVzXUsbY9W3qiTX59      6 Sat Sep 27 13:13:20 2014       5 Thu Oct  2 10:15:38 2014
...
(truncated)

Here is an example of a transaction.

Code:

$ ./parser txinfo 9d113596487f46ebe89a46bbd5bf2a2c7ce212bb13cfdc94911e752cdaff9a0b

info: starting command "dumpTX"
info: dumping 1 transactions

info: initializing hash tables
info: estimated number of blocks = 1.64K
info: estimated number of transactions = 0.26M
info: pass 1 -- walk all blocks and build headers ...
info: pass 1 -- took 156 secs, 218967 blocks, 0.12 Gigs, 0.76 Megs/secs                                             
info: pass 2 -- link all blocks ...
info: pass 2 -- done, did 0 late links
info: pass 3 -- wire longest chain ...
info: pass 3 -- done, maxHeight=214511
info: pass 4 -- full blockchain analysis ...
TX = {

    version = 1
    minted in block = 5
    mint time = 1409691752 (Tue Sep  2 21:02:32 2014 GMT)
    txHash = 9d113596487f46ebe89a46bbd5bf2a2c7ce212bb13cfdc94911e752cdaff9a0b

    input[0] = {

            0x55 OP_5
                 OP_PUSHDATA(1, 0x02)
        generation transaction
        based on block height, reward = 50.00000000
        hex dump of coinbase follows:

        000000: 55 01 02                                          U..
    }


    output[0] = {

        value = 1.00000000
        challenge script, bytes=25 :
            0x76 OP_DUP
            0xA9 OP_HASH160
                 OP_PUSHDATA(20, 0x95739a921628df7a07e52f83c4d53fb75ef0ce18)
            0x88 OP_EQUALVERIFY
            0xAC OP_CHECKSIG
        scriptType = 'pays to hash160(pubKey)'
        scriptPaysToAddr = 'JYAAWYZrL4HbuCmPtYCBaebSdLKXsQsFM2'
        scriptPaysToHash160 = '95739a921628df7a07e52f83c4d53fb75ef0ce18'
    }

    nbInputs = 1
   nbOutputs = 1
    byteSize = 96
    lockTime = 3815998976
     valueIn =  50.00
    valueOut =  1.00
}

[jyap]

Check out the Full Jumbucks Price Index on Brave New Coin!

http://bravenewcoin.com/jumbucks

[jyap]

MAX_STAKE_BLOCK_REWARD inflation control for Proof of Stake coin Jumbucks

This outlines a new setting called MAX_STAKE_BLOCK_REWARD that I intend to introduce to Jumbucks.

One of the common criticisms of the original Proof of Stake coin Peercoin is of the setting Maximum Coin Age.  With Peercoin the Minimum Coin Age is 30 days and the Maximum Coin Age is 90 days.  This means that coins must be idle for a minimum of 30 days to be eligible for staking.  Proof of Stake is based around stake weight which is calculated based on the amount of coins you have and the cumulative coin age.

Enforcing a Maximum Coin Age however means that it may not be possible for stakers with smaller amounts of coins to ever generate a Proof of Stake block as they may never gather enough stake weight within the Maximum Coin Age period to be eligible to stake a block.  Essentially those who have a large amount of coins stake the most amount of coins, for example this address which has over 550k PPC and this address which has over 220k PPC. To put this into perspective for a smaller staker, someone who is consistently staking 4000 PPC will stake approximately 5 blocks per month.  Someone who is staking 550 PPC will stake approximately 1 block a month.

Most Proof of Stake coins these days set their Maximum Coin Age to Unlimited which helps to solve this issue so that smaller stakers can still generate enough stake weight.

One downside to having an Unlimited Maximum Coin Age is that someone is able to accumulate a very large stake weight by not staking their coins for a long time and then later bringing them back on to the network and staking them.  This can lead to "inflationary spikes" where lots of new coins are minted in a short span of time.

Here is an Inflation Chart of Jumbucks for the last 100k blocks where inflationary spikes can be observed.



Here is an Inflation Chart of a random Proof of Stake alt coin for the last 100k blocks where this can also be observed.



Here is a section of an Inflation Chart of a random Proof of Stake alt coin with a very pronounced inflation spike.



MAX_STAKE_BLOCK_REWARD will be a new setting which defines the Maximum Reward that a Proof of Stake block can yield.  In my proposal, the maximum reward will be set to 50% of the Proof of Stake interest rate so 8% Proof of Stake interest would have a MAX_STAKE_BLOCK_REWARD setting of 4 JBS.  This setting should only effect a small percentage of blocks but will have very positive effects overall.

This will have the following effect:

• Jumbucks will not experience inflation spikes in coin supply.
• Coin supply and inflation will be more predictable and smoother, similar to Proof of Work coins with a fixed emission schedule.
• Larger stakers will be encouraged to stake more often so that their rewards stay within the MAX_BLOCK_STAKE_REWARD limit.
• MAX_BLOCK_STAKE_REWARD will serve as a security and safety check so that large Proof of Stake block rewards can't be mined.
• Unlimited Maximum Coin Age can be retained so that Proof of Stake miners with smaller amounts of coins can still be fairly rewarded.

It is my belief that a cryptocurrency should be widely distributed and that Proof of Stake coins have a strong and diverse network.  This proposed changes reflect those ideals.  Please let me know if there are any questions or comments.

[superfluouso]

Inflation control - Nice!  Keep up the good work.  I gotta say, with all of the ongoing drama in BTC and crypto in general, its always nice to turn to the sanity and pragmatic development going on in JBS. 

[jyap]

New Wallet Version 1.7 - Mandatory upgrade before block 250,000

Hi all,

A new wallet version 1.7 has been released for Jumbucks.  This is a mandatory upgrade before block 250,000.  This update includes a new inflation control and security setting called MAX_STAKE_BLOCK_REWARD as well as a modified Proof of Stake schedule for the long term future.  This version has been extensively tested so no issues should be apparent.

Directions:

Backup your wallet.dat file
Shut down the current wallet
Install the new version
Start the new version and verify everything works

Download links:

Mac OS X: http://getjumbucks.com/download/Jumbucks-Qt-1.7-signed-osx.dmg
MD5: 760c0f08d48d2c7c91a0c3e0ea6fb820
Wallet built and signed by @jyap.

Windows: http://getjumbucks.com/download/Jumbucks-1.7-windows.zip
MD5: e15aca9e5dca67f47e67045b63e2170e
Wallet built by @jyap.

Github: https://github.com/jyap808/jumbucks/releases/tag/v1.7

Changes:

• Upgrade from version 1.5 to 1.7
• Update PROTOCOL_VERSION from 60013 to 60014
• Add MAX_STAKE_BLOCK_REWARD and set Proof of Stake schedule
• Hard fork at block 250,000 where MAX_STAKE_BLOCK_REWARD will be enabled

Updated Proof of Stake Schedule:

• Year 1 from Block 250,000. 8% interest and MAX_STAKE_BLOCK_REWARD = 4
• Year 2. 5% interest and MAX_STAKE_BLOCK_REWARD = 2.5
• Year 10 onwards. 2% interest and MAX_STAKE_BLOCK_REWARD = 1

Further details about MAX_STAKE_BLOCK_REWARD in this post.

Signed version tag:

This version has been tagged and signed as v1.7 in Git.  Verify it using my GPG public key on https://keybase.io/jyap.

Code:

$ git tag -v v1.7
object 1f38e39f559dcf3ab3147df2ea4cc07af6e97987
type commit
tag v1.7
tagger Julian Yap <> 1421739853 -1000

Signed 1.7 tag
gpg: Signature made Mon Jan 19 21:44:13 2015 HST using RSA key ID 7F661F0A
gpg: Good signature from "Julian Yap <>"
gpg:                 aka "keybase.io/jyap <>"

Thanks,
Julian