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Author Topic: [KOBO] Kobocoin - Mobile Money for Africa  (Read 120864 times)
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The_Tribesman
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January 29, 2018, 11:49:55 AM
Last edit: March 03, 2018, 12:26:59 PM by The_Tribesman
Merited by iluvbitcoins (1)
 #1361

UPDATE

I have bitten the bullet and paid 0.2 BTC for YoBit to resolve KOBO withdrawal issue. At this moment 0.2 BTC = $2217  Shocked

Screenshot of request:



I'm praying for a resolution once and for all!

Things are moving very fast and we are the first movers in this market with an already impressive reputation in Africa. Now is the time to push hard.

1. Xtian Dela (https://twitter.com/xtiandela) is now on board (he already knows, and loves, kobo Grin) and will be advertising kobo to his 1m+ African followers on all platforms. This is REALLY great news. He is one of Africa's REAL trend setters (Opticoin, I'll be in touch) - This is a real coup!

2. I have found a Canadian firm who are also excited about updating the kobocoin.com website - https://huckleberryagency.com/ - They specialize in Wordpress responsive sites. As I stated in an earlier update, our new site will push our green credentials.

3. One of our young developers has cracked pulling the old android wallet code into a new IDE, so we are a step closer to getting new wallets which will include pin-create, pin-to-send, opening splash screen and possibly further updated branding and feature. Another thing the wallet requires is the 'Sweep Paper Wallet' option. Once we get that then people can start buying kobo via paper wallets rather than struggling with exchanges. It also gives the roadside traders the ability to start selling kobo more easily and in batches (e.g. 10, 20, 50, 100, 500 KOBO paper wallets that can be imported into mobile wallet via QR code scanning).

NB - My account being hacked means I can no longer update the OP. Once things settle down I will create a new thread. Once again I will find someone experienced (here on BCT) to produce something slicker than what we currently have for the OP. Nice graphics etc

Please be aware that none of this comes cheap, and there are no ICO development funds to dip into! So if I lose my home spending my hard earned cash I'm coming to live with you guys (one by one)! Angry

NB - I might even consider having a proper roadmap! (shhh!)

TT

 Smiley

Kobocoin - Mobile Money for Africa
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The_Tribesman
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January 29, 2018, 03:37:29 PM
 #1362

Here is a tweet from Xtian about Kobocoin (I wasn't expecting a mention, but I'm definitely not complaining!)

https://twitter.com/xtiandela/status/957983552678825984

Very good, very immediate! It had the immediate effect of 10 notifications coming through from users asking where they can buy KOBO.

 Smiley

Kobocoin - Mobile Money for Africa
The_Tribesman
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January 29, 2018, 03:43:32 PM
 #1363

And another (look at those retweets and likes!)  Grin

https://twitter.com/xtiandela/status/957981713363283968

 Smiley

Kobocoin - Mobile Money for Africa
The_Tribesman
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January 29, 2018, 09:49:04 PM
 #1364

Hey! I've been ranked up to Jr member. At least I can now post images for the community!

 Cheesy

Kobocoin - Mobile Money for Africa
The_Tribesman
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January 29, 2018, 11:03:40 PM
 #1365

I'm also happy to report that I have 'finally' bought myself a new development PC.

My old PC was an stinky workhorse that couldn't compile anything. Once any compile started in earnest the fans would spin up to the max and the PC would eventually crash. Absolute nightmare.

Once this new PC arrives I shall be producing a lot more libs for connecting to the kobo blockchain.

I'm definitely looking forward to my github looking a lot more healthy and used than it is now.

I've decided that I'll be using DASH as the example for KOBO to aim at. I'm not saying I'm going to enable InstantSend on the kobo wallets (we don't have the infrastructure or nodes yet), but they have made it extremely easy for anyone who wishes to integrate DASH into their service. As an independent blockchain platform, this is where we need to be.

Kobocoin - Mobile Money for Africa
MammothK
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January 30, 2018, 09:19:38 AM
 #1366

I've decided that I'll be using DASH as the example for KOBO to aim at. I'm not saying I'm going to enable InstantSend on the kobo wallets (we don't have the infrastructure or nodes yet), but they have made it extremely easy for anyone who wishes to integrate DASH into their service. As an independent blockchain platform, this is where we need to be.

Firstly, thankyou for keeping this coin going, it is the number one choice for Africa, and can free them from dollar hegemony and control, it will be a pleasure watching you work and will help as much as I can (unfortunately am not a coder really)
Updated code would be appreciated, seem to remember around 2015 time Gavin Andresen did a mem pool speedup and all the bitcoin clone wallet update times were improved by a considerable amount, Kobo wallet could update much quicker just with some recent github updates, stability can be improved
The stake holder mining and/or masternodes is the way to go IMO, as the power used in bitcoin mining has got ridiculous, no African country wants to wasting precious energy on needless POW, coin owners do not want to see their coins devalued by constant dumping by commercial miners to the exchanges, but a constant flow of new coins does increase liquidity, you have chosen the 10% yield wisely, IMO, much more would devalue, too little may reduce interest too much, and a typical African country suffers around 10% inflation per year so it would stay on par in that sense.

Masternodes will strengthen the network, and the peers/nodes often used will be quicker and more stable than regular wallet users and home networks. If this was brought in, the incentive for masternodes would have to be higher than regular stake wallet mining because of server costs and increased work required (a 60/40 split?)

Perhaps a testnet masternode network is required with a few nodes to make sure your coding is correct before it is released onto mainnet?

Anyhow, either way, good luck in what you choose to do next  Grin

Mammoth




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January 30, 2018, 09:42:53 AM
 #1367

so, where can we buy KOBO? Smiley sorry if I missed some previous mentions of this. Thanks!
MammothK
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January 30, 2018, 10:43:19 AM
 #1368

so, where can we buy KOBO? Smiley sorry if I missed some previous mentions of this. Thanks!
Firstly avoid Yobit.net, a number of us have lost out due to withdrawals being disabled they were given ample opportunity and time to sort the wallet out, do not chase cheaper prices and apparent arbitrages, it will bite you in the ass.

Saying that, Cryptopia are a top exchange with increasing volume for alt coins all the time.Unfortunately some trading pairs like kobo/litecoin and kobo/doge had to be disabled along with all the others because they were slowing the exchange down too much, so its only bitcoin and tether pairs, but interestingly they have the New Zealand tether dollar (they introduced it, btw)

Coinexchange.io are fine AFAIK, but volume is small for kobo.
Those are the 2 options until an African exchange such as Cryptoafrica introduce a direct fiat to kobo system, they have it on the main page but in the options Kobo is not yet enabled, is this coming soon, anybody know about this?

Good luck  Cool




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January 30, 2018, 11:06:09 AM
 #1369

Cryptopia is the best option for now... For the past few weeks, somebody or groups/trader(s)/investor(s) have been buying up Kobocoin to the point that it reached  0.00001 to 0.00002 BTC with volumes of 2 BTCs to 5 BTCs... (sweeping the floor in stock market parlance).. However,  the price usually returned to the base levels of 0.000006s to 0.0000070s after the buyups .
 
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January 30, 2018, 11:27:41 AM
 #1370



http://bitcoinafrica.io/bitcoin-in-africa/

The African Bitcoin Ecosystem



Kobocoin (Payments)

Kobocoin is a London-based digital currency and payment system similar to bitcoin but with an African heritage. Kobocoin was launched by Nigerian developer and entrepreneur Felix Onyemechi Ugoji with the aim to facilitate remittances into Africa by delivering a fast and low-cost way of transferring money globally.


Bitsoko (Mobile Wallet)

Bitsoko is an Android mobile wallet that implements blockchain technology in a bid to both remove the cost of transferring money between two individuals and to increase access to payment services. BitSoko aims to integrate blockchain technology into current mobile money platforms in Africa and, thereby, allowing funds to be sent from the developed world through bitcoin to be received as mobile money.
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January 31, 2018, 02:50:57 PM
 #1371

...About the 10% PoS and 350,000,000 Total coins, not that sure about it.
We need the 10% stake to increase the interest in the coin while it's being adopted by the real users, but you don't want 10% inflation every year.
I mean, with a total 350M coins it will take more than 25 years to achieve it (maths down below) while 100M coins will take almost 15year.
I think in 15 years this coin is gonna be used by the people it's focused on, so no need to have another 10years of 10% pos.
25.000.000
27.500.000
...
297.954.413
327.749.855

Hi,
I agree with your numbers as a theoretical maximum using 10% but the real life empirically based rate of inflation is more like 1% per year due to the fact that not many people are stake mining, hence the 10% is never realized, in fact based on most of blocks produced during January, the figure is only 1.134%  [24,910,596 - 24,888,934.  Over the last 28 days exactly]
Here are my numbers based on the actual kobocoin explorer data.

Using compound interest of 1.134% per annum:-
January 2018: 24,910,596
January 2019: 25,193,108
January 2020: 25,478,825
January 2021: 25.767,782
January 2022: 26,060,017
January 2023: 26,355,565
January 2024: 26,654,466
January 2025: 26,956,756
January 2026: 27,262,474
January 2027: 27,571,660
January 2028: 27,884,352
January 2029: 28,200,590
January 2030: 28,520,415
January 2031: 28,843,867
January 2032: 29,170,988
January 2033: 29,501,818

So in 15 years there are only 4,591,222 Kobocoin produced, this is not much of an increase(+18.43%), so here we have a promising coin that gives a healthy 10% yield through stake mining via simple wallet activation but does not get devalued from too much dumping onto the market by potential commercial stake holding miners.
1 dollar per day income crypto equivalent is easy to obtain even at these prices.

With 10% compound interest per annum return and little downward market pressure, I would say this is a good coin to stake hold mine, and 'coin age' or amount is not important, meaning only 10 kobocoin will still give an income of 1 kobocoin per year just by switching the wallet on once or twice per week throughout the year, and moving coins from wallet to wallet makes little difference to overall return (some stake coins need to be aged for 1 month before they become viable, and this reduces liquidity).
And there are not many coins in total issuance currently, many have over 1 billion giving a potentially false high coinmarketcap value...



ser54gold
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January 31, 2018, 03:17:13 PM
 #1372

It surely looks intresting waiting for launch. what price?
The_Tribesman
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January 31, 2018, 03:37:53 PM
 #1373

...About the 10% PoS and 350,000,000 Total coins, not that sure about it.
We need the 10% stake to increase the interest in the coin while it's being adopted by the real users, but you don't want 10% inflation every year.
I mean, with a total 350M coins it will take more than 25 years to achieve it (maths down below) while 100M coins will take almost 15year.
I think in 15 years this coin is gonna be used by the people it's focused on, so no need to have another 10years of 10% pos.
25.000.000
27.500.000
...
297.954.413
327.749.855

Hi,
I agree with your numbers as a theoretical maximum using 10% but the real life empirically based rate of inflation is more like 1% per year due to the fact that not many people are stake mining, hence the 10% is never realized, in fact based on most of blocks produced during January, the figure is only 1.134%  [24,910,596 - 24,888,934.  Over the last 28 days exactly]
Here are my numbers based on the actual kobocoin explorer data.

Using compound interest of 1.134% per annum:-
January 2018: 24,910,596
January 2019: 25,193,108
January 2020: 25,478,825
January 2021: 25.767,782
January 2022: 26,060,017
January 2023: 26,355,565
January 2024: 26,654,466
January 2025: 26,956,756
January 2026: 27,262,474
January 2027: 27,571,660
January 2028: 27,884,352
January 2029: 28,200,590
January 2030: 28,520,415
January 2031: 28,843,867
January 2032: 29,170,988
January 2033: 29,501,818

So in 15 years there are only 4,591,222 Kobocoin produced, this is not much of an increase(+18.43%), so here we have a promising coin that gives a healthy 10% yield through stake mining via simple wallet activation but does not get devalued from too much dumping onto the market by potential commercial stake holding miners.
1 dollar per day income crypto equivalent is easy to obtain even at these prices.

With 10% compound interest per annum return and little downward market pressure, I would say this is a good coin to stake hold mine, and 'coin age' or amount is not important, meaning only 10 kobocoin will still give an income of 1 kobocoin per year just by switching the wallet on once or twice per week throughout the year, and moving coins from wallet to wallet makes little difference to overall return (some stake coins need to be aged for 1 month before they become viable, and this reduces liquidity).
And there are not many coins in total issuance currently, many have over 1 billion giving a potentially false high coinmarketcap value...


Absolutely! Thanks for the analysis. The kobocoin blockchain will still be emitting kobo long after I've left this world (unless newer tech has replaced blockchain). The parameters were chosen for longevity of the currency. Of course I want people to make some returns but the currency has to operate properly well into the future (or at least until something better comes along).

I would have given you some merit but they're all gone! I'll hit you up when/if I get more allocation.

Kobocoin - Mobile Money for Africa
The_Tribesman
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January 31, 2018, 09:43:07 PM
 #1374

Update

I am very happy to let you all know that our newest partner Xtian Dela:
https://twitter.com/xtiandela

Will be handling all community building and social media for Kobocoin. His media agency is already on the case and in the coming weeks you will start to see the rollout of the new services. These include:

1. New Logo
2. New Website
3. New Telegram Group
4. New Facebook group
5. New Instagram group
6. New Snapchat group

The updated website will include extra sections such as:

- Team members page
- Markets page with current price details for kobo (and against all major African currencies)
- Whitepaper
- possibly other features

The rebranding and new website will be supplemented with Xtian's team handling all aspects of building a proper Kobo community in Africa. There may be givaways, competitions and anything else we think will help grow the community.

There are so many people who want to buy kobo, so I have tasked myself with finding a way to allow people to purchase kobo in their local currency. Key to this may be the introduction of the ability to sweep a QR code on the mobile wallet.

I'm trying to find a way to generate QR codes with with a balance, so that, rather than having a hot wallet on the site (ready to be compromised by the more shitty members of the industry), users will be able to purchase kobo by paying with local currency and having a QR code dynamically created for them to scan with their mobile wallet. I know... it may be more difficult than it sounds, but bear in mind that the desktop wallet can already generate loaded QR codes, so it should be possible.

Question: Does anybody know any members who could write a good whitepaper for kobo? People have been asking for a whitepaper and, again, I want something uber professional.

A new thread may be created, but I would like that to 'maybe' coincide with the launch of the new website (if I still haven't got my account back..





Kobocoin - Mobile Money for Africa
The_Tribesman
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January 31, 2018, 09:47:30 PM
 #1375

It surely looks intresting waiting for launch. what price?
Kobocoin was launched on 7th February, 2015. Long before ICO's were even thought of!

Kobocoin - Mobile Money for Africa
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January 31, 2018, 10:56:13 PM
 #1376

I'm posting this for the new and recent community members.

I believe this was the first  media coverage of Kobocoin, a year after the Feb 2015 launch of Kobocoin.   

https://bitcoindood.com/bitcoin-blog/2016/03/28/interview-with-kobocoin-dev/
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February 01, 2018, 01:24:45 AM
 #1377

Is this coin POS or is it still mineable?  If mineable, any good pools out there?
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February 01, 2018, 12:01:12 PM
 #1378

What is Kobocoin?
The launch, the so-called “Initial Coin Offering” the cryptocurrency Kobocoin took place on February 15 2017th Since then, listed under the symbol KOBO currency can, in any market for crypto currencies are traded on the Internet.
Read More https://www.geekxplore.com/what-is-kobocoin.html
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February 01, 2018, 08:15:12 PM
Last edit: February 01, 2018, 08:25:55 PM by The_Tribesman
 #1379

What is Kobocoin?
The launch, the so-called “Initial Coin Offering” the cryptocurrency Kobocoin took place on February 15 2017th Since then, listed under the symbol KOBO currency can, in any market for crypto currencies are traded on the Internet.
Read More https://www.geekxplore.com/what-is-kobocoin.html

I have to correct you here. There was never an ICO for Kobocoin.

Kobocoin at launch (Feb 7th, 2015) was PoW (Proof of Work) to ensure a fair distribution before going to full PoS (Proof of Stake). It was meant to be mineable for 1 month only but at the time it was more popular than expected and block 43,200 (which should have been 30 days @ 60s block time) was reached on Feb 25th, 2015.

The coin specs are shown below:

- Name of Coin : Kobocoin
- Ticker Symbol : KOBO
- Max number of kobocoins : 350,000,000
- Algo: X15/PoW/PoS
- Timings of block (in seconds) : 60
- Coins per Block  : 1,000
- Block number when PoW ended  : 43,200 (ended 25th February, 2015)
- https://chainz.cryptoid.info/kobo/block.dws?00000000129737545b031a87b9f531b9619876b270d0fa3aad01c7956ae4bbea.htm
- Approx number of coins in circulation after PoW end : 23,500,000
- PoS Reward (currency growth) per year : ~10%
- Max stake age : No max
- Min stake age : 24 hrs
- 50 confirmations required for mined blocks
- 6 confirmations required for transactions
- No IPO, No ICO, No Premine

Kobocoin - Mobile Money for Africa
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February 04, 2018, 05:01:55 AM
 #1380

COİNEXCHANGE  THIEF !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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