The Very Beginning of Québecoin
Launched on April 19, 2014, Quebecoin became the first Quebecois cryptocurrency to trade on the marketplaces. The development of industries around blockchain technology was in full swing. The launch was received at the time with great enthusiasm by the community.
Jean-Philippe Gagnon, the main developer of Quebecoin at the time, said on his website launching:
"The province of Quebec was recognized as a nation by the Canadian government in 2006."
"We are always at the forefront of technology and we think it's time we have our own currency - Quebecoin."
An article published on April 17, 2014 by Patrick Georges on Canoe.ca, said:
"Quebecers have an alternative to using the Canadian currency to make their purchases. They can get the Quebecoin, a virtual currency inspired by bitcoin, which could well become their national currency. "
"For the moment, Quebecoin is not accepted in the shops of the province. As some institutions have recently accepted bitcoin, Mr. Gagnon believes that "it is not hard to believe" that merchants could accept its creation."
An article published on April 23, 2014 by Fabien Deglise in the newspaper Le Devoir, said:
"It is not accepted in any trade, has no official recognition, is frankly in the margin, but it has existed since last April 19."
Jean Philippe Gagnon, who also had raised 20 bitcoin during that period for Quebecoin development, disappeared after being questioned about his 20.6 million QBC pre-mine vigorously on BitcoinTalk in Quebecoin's original thread. In essence, the first QBC was essentially a textbook exit scam.
The departure "like a thief" of the main developer was a blow to the development of Quebecoin which depressed support massively and left QBC adrift.
But does the history of the only Quebecois digital currency currently traded stop there? Nope! As we say, "We've been here. We'll always be here."
Québecoin, the Second Time Around (2018)
Thankfully Marie-Lynn Richard, a web development specialist, successfully took over the project in order to put Quebecoin back on track. She consulted the various stakeholders and executed a recovery plan for Quebecoin which for a time had positive tangible results. She and Patrick Morin successfully created the second chain of Quebecoin based on DASH in 2018 and the X11 algorithm however the project soon failed when the chain was attacked at YoBit and it was delisted from Bittrex which further worsened the situation.
Maintaining a cryptocurrency is hard and it takes hard work from all involved. They did the best they could for Quebecoin at the time and their contributions will always be appreciated and remembered. Cryptocurrency is risky and subject to many variables. No one knew at the time the vulnerabilities that X11 has as an algorithm. The experiences of the second chain are the primary reason that when the new team relaunched QBC a third time they chose a multi algorithm mining formula so that it would be specifically harder to attack.
This project is entirely voluntary and therefore she chose to leave the project, however morinpa stayed on and later gave his blessing and support to the new team which have currently been working on Quebecoin's development since April 2019. May 13, 2019 the new chain was created and the QBC founder pamorin approved all the rewards to participants.
On to the Third Chain (2019)
The chain of the second launch was successfully phased out. The swap to the new chain was completed on July 13, 2019.
Why swap? And a Word on YoBit
The reasons for the swap are clear and straightforward. It became clear to us that the developer funds of 20.6 million from the first chain had not been fully burned. Furthermore the X11 chain was considered a security risk with known vulnerabilities – the chain was attacked at YoBit in October 2018. That is why we cannot swap YoBit holders because in fact, they were robbed. At YoBit, they are not capable of allowing you to withdraw. We have reached out to them multiple times to attempt to reopen the markets and we have offered to refund them in full from the new chain simply to open the wallets and reopen trade there. They in fact have not answered us though we have made multiple requests to complete the swap. However YoBit wants bitcoin paid to them when we are providing them a needed security update on the new chain and the old chain had obvious vulnerabilities. We cannot be expected to pay them on top of the Quebecoin they lost an additional amount of bitcoin valued at $1600 in current prices. We realize that this has upset many investors but we encourage you to sell all YoBit "QBC" as soon as possible. In the event they contact us and want to update we will do so. We urge any affected to contact YoBit and ask them to update.
Quebecoin successfully survived the crash caused by the abrupt end of the second QBC chain thanks to the intervention of a new team of volunteers led by morinpa aka Patrick Morin, and Mario Bruneau as well as several other community members. This new launch was mostly coordinated via our discord which was established by flex hit. You can frequently find him on the admin section of the discord along with other community members such as discord manager and new chain bounty recipient Sami Ahmed. He was awarded 1 million Quebecoin for supporting the creation of the new chain as a bounty and an additional 1 million Quebecoin for supporting the development of our new mobile wallet, developed by William Kibbler aka wkibbler on discord. For the development of the new chain, Sami Ahmed recruited Ahmed Bodiwala to develop the chain based on a fork of Myriad. He found Ahmed Bodiwala on Fiverr.
"We want this chain to be strong. It can take anything it throws at it. We just have to get access to enough pools to use its merge mining capabilities. It will be an unstoppable machine." Ahmed Bodiwala aka ahmedbodi on the discord.
Sami Ahmed saw the opportunity to support Quebecoin because he realized that Québecois people would eventually want to return to Quebecoin once they saw it to actually function.
"I've always been passionate about certain causes, and for some reason it just seemed natural for me to want to keep Quebecoin alive because Québecois are proud people and if they saw they had a coin as a region I'm pretty sure they would embrace it once they saw it was safe and secure with reliable statistics. We had to clean up the numbers from the past chains because I had seen estimates of anywhere from 1 to 15 million circulating. People needed certainty. They needed to know what exactly were the numbers. What we did was generate 20 million coins in anticipation of the swap and we burned 12 million that went unswapped. The point was to establish finality and ensure that we knew exactly who had what and where it was. The worry was that the 20.6 million pre-mine was still floating around out there so we did the swap to ensure that those coins would not show up out of nowhere.
I have to say I feel we did a good job. It was very stressful to try to relaunch everything and to start essentially from zero but we've done a lot and I'm noticing more mining pools coming in lately which will raise the security level. All the new hashrate makes it safer and faster. Also it improves the reliability. The 20 second block time will be an excellent way of marketing to businesses and merchants that sell products to use Quebecoin." - Sami Ahmed
Not long after the new chain was created, Ahmed Bodiwala created a QBC mining pool at Poolswitch.PW. In exchange he received a 1 million Quebecoin bounty from the Quebecoin foundation led by Patrick Morin. These bounties were paid out of the pre-mine created with the new chain. The remainder of the pre-mine was destroyed via OP_RETURN to a burn address. In total, the circulating supply is shown on the block explorer which you can check on the main menu.
Everything we do has been in the open. Nothing is hidden. We are happy to answer any questions. Feel free to contact us at any of the platforms linked on this website. Quebecoin's team checks it all. We're happy to hear from you. Especially if you're in Québec we need you. Please help. We want this project to be a collaboration between all the people of the world but we recognize the importance of this project being led by Quebecers and French Canadians in general. We're not purposefully ignoring French, much of our team is international and they are eager to support but we recognize the original purpose of this coin and we would love it if you would participate. We're happy to talk to anyone who has new ideas that may be of interest to Quebecoin.
Mario Bruneau, a humble webmaster and musician from Magog, Québec very generously volunteered to create our website. As you can see it is very beautiful. For this he received a bounty of 250,000 Quebecoin. He very kindly hosts the website as well. Mario also frequently translates to French the contributions from international members of the Quebecoin community.
Much of the material regarding Quebecoin is written by Sami Ahmed who has been a loyal supporter of Quebecoin since March 2018. He stepped in to help when he saw the project was largely abandoned in April 2019 and found pamorin to ask his blessing to create the new chain and revive the project with a newer, safer code base after the attack on YoBit. With the help of his friends flex hit, Denis Lukavackic and intensedrive on discord they began recruiting community members to do a third launch, completing a swap, burn and introducing a new mobile wallet.
Quebecoin's mobile developer William Kibbler successfully completed the android wallet for Quebecoin but the iOS wallet is coming soon. Quebecoin still has a long way to go but we remember where we came from. Join us today so we can build the future of Quebecoin and create the cryptocurrency Quebecers deserve.
The community working on the development of Quebecoin is currently involved with a multitude of projects such as mining pool development and expansion in order to secure the network and raise hashrate, a transactional API, a QBC based exchange and a mobile wallet for Android and iOS, the "Quebecoin Wallet".
All these efforts demonstrate a certain willingness of the new team to restore credibility to Quebecoin as a cryptocurrency and bring it to the next level.
» Le Devoir: Québecoin: une monnaie numérique pour le Québec
» Marie-Lynn Richard: Marie-Lynn.ca