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White Paper

By: Sami Ahmed

I've had a lot of people ask me:

Why did you get into Quebecoin?
What's the use case?
What makes it different?

Meaning. Purpose. Value.

        The fact is we all know the crypto world is overly and flooded with meaningless fly-by-night projects. Maybe, if we're lucky the project survives one or two big dumps before being consigned to the trash heap of dead crypto projects. Quebecoin is so far from that. Quebecoin isn't just a get rich quick scheme promising vaporware. Quebecoin is an opportunity. A decentralized currency that is extremely limited by its supply and controlled by no person or group, only by the chain and the algorithms. It isn't issued by any central bank or any entity charging you interest just to use it.

        Quebecoin is connected to a real place with a storied history of continuing to fight on even when abandoned by everyone. Even Quebecoin started off abandoned for four years until it was picked back up again in March 2018. Thanks to its dedicated community it's managed to survive and rebuild to fight another day. When I got in it the first time it was March 2018 around the exact time it hit eight cents on YoBit. Where most people would write it off as a scam coin once the YoBit wallet was frozen, I looked for an opportunity to spend my time after learning a lot from another coin I helped. I don't want to say the name and I won't because even though that coin didn't work out I'm grateful for what the experience taught me. I learned a lot about what goes into a lot of projects and not all of it was good. I learned the value of effort and hard work to achieve real goals, but I also learned that a lot of projects are held back by greed of bag holders and accumulators who want to keep a coin in permanent shit coin status while shilling it to inexperienced investors promising magical returns that never come. That's not what this is. We’re not sitting here trying to raise an ICO promising quixotic vaporware. We are doing real things and though it may not be perfect, everything we are doing has purpose, meaning, value and dedication behind it. Just on August 4, 2019 we had a massive infusion of volume which raised our price to $2.19 per coin. Imagine once people in Québec start to use this coin on a daily basis and this is no longer a mere crypto trading asset but something that ordinary people can use on a daily basis to express their feelings for their identity.

        Local currencies work. We don't even have to discuss political questions like sovereignty or borders – a local currency makes sense even inside a greater whole. Imagine Québec – a region of 8.5 million people using Quebecoin as an expression of solidarity and of who they are. Imagine not having to use fiat currency that is owned by people you don't even know and who don't really have your interests in mind. Instead, there is an opportunity to use Quebecoin - a currency that is designed to hold value thanks to its extremely low supply. If you, the ordinary user choose to use it, it will naturally flow across the entire region and even the world. Like a butterfly out of the cocoon, no one will be able to hold it down by printing more. They may be able to print more fiat to buy it from you and then dump it like they do with gold and like they do with silver and like they do with bitcoin but there's a limit to how many times they can do that without further debasing the currency.

        Now is the time to get into Quebecoin when everyone thinks it's worthless. They don't yet see what we are doing. If you're reading this I hope you realize we will have merchants who will take this coin. We have several different things coming that we don't want to discuss yet but we will have merchants accepting this coin all over the world. We will have wallets for android and iOS. We will have plug-ins designed to enable merchants to add this coin easily and simply. We will also have ways to cash this coin to fiat.

        Crypto is plagued by people who style themselves as experts and claim that we should just be able to use crypto alone without concern for how the world actually works and that is what holds back adoption. If you want people to use your coin you have to give them the opportunity to use it alongside what they already use. Quebecoin will be adopted because we will address that and we will make it possible for it to function and work in the real world. In fact what gives the coin value is the people who accept it and use it. By using it and moving it around on a daily basis it will accumulate value from what can be done with it.

        If we do this right, there will be just barely enough Quebecoin in circulation for every Québecois to have 1. Maybe slightly more than that. The fact is that is what our goal is and will be- to get Quebecoin in the hands of its people as much as possible. But even more than that, we will need to get it into use by businesses in order to give it the meaning, purpose and value. This is an opportunity for businesses around the world to market to Québec and other regions where Quebecoin gains popularity and in turn grow your share of that market. The block reward is extremely small and half of it is a dev fee to our lead developer Ahmed Bodiwala aka ahmedbodi. I have had many miners say how that's wrong and yet no one else stepped forward to help me rebuild this chain. ahmedbodi did - and it works wonderfully within its twenty second block time with no problem at all. QBC is also highly secure and very well positioned for future development. (By the way, he's a great developer and you can find him on Fiverr: https://www.fiverr.com/ahmedbodi)

        Thanks to our developer and our mobile developer William Kibbler aka wkibbler we have managed to create wallets for basically every conceivable platform and even though right now we only have android, very soon we will have a Quebecoin wallet for iOS. As I described previously we have plug-ins coming for merchant acceptance and we are working on our official merchant directory at QBC–coin.rocks. We have a lot of things coming but the difference with us is we are waiting until everything works before advertising. A lot of projects are all sizzle with no steak. We're not just sitting here waiting to get on Binance or Bittrex. We're not just seeking out new exchanges to dump on and call it a day. We're proud to be listed at AltMarkets.io and even though people make fun of us for being on such a small exchange and say we're not going to make it I know eventually we're going to make this coin so valuable that people will come to AltMarkets and trade it. We're not looking to rush onto a bunch of exchanges where they charge us a bunch of bitcoin and we just magically go to $10. As I stated in the beginning, meaning purpose and value are important and this is about building the value and the meaning through the purpose. We will get there even if it takes longer than many expect and if no one wants to invest right away that's fine. We're in this for the long haul. We're fighting to make something real.

        If anything I've just written appeals to you, go to https://altmarkets.io/trading/qbcbtc today. Many people have sadly been burned in the crypto markets and lost everything they had. So I don't blame people for being fearful or concerned or disinterested based on aspects of our chain such as the dev fee however, for everything we have done I think it's clear that we are building something to be used and not just to be held, traded and dumped. We're still at such an early stage that if you get in now there is very little cost compared with the overall supply and there is great potential because as soon as we have even five or 10 actual businesses in Québec or even other parts of Canada it will light a fire of curiosity between among every person that's interested in crypto that goes through those locations. We're not focused on marketing. We're not focused on shilling it. We're focused on making sure everything works and that this currency will be one that our holders and users can be proud of. When you ask me, "what is our use case?" we'll be able to show you at our merchants listed on our upcoming website QBC-coin.rocks. Hang tight. It will be worth it.

        Before I finish this letter, I just want to say thank you to the person who saved QBC the last time around, Patrick Morin aka pamorin. If it wasn't for his support when I decided to come along and try to help this project we wouldn't even be at the level we are and I'm thankful for being able to help the Quebecoin project to get past the other two attempts which were held back from not enough support. It's because of him that we have explorers in both French and English and we have a Trezor blockbook. As we go through the process of updating our info on all the major coin info sites such as CoinMarketCap, CoinGecko and CoinPaprika a working explorer is absolutely invaluable. Also, thank you to Mario Bruneau our webmaster who generously hosts our website and helps us remain true to the spirit of Quebecoin.

        We will achieve the goal of this project - which is to create a viable currency for Québec that can go anywhere in the world and still hold value in the face of fiat devaluation. No matter what it takes, we will succeed. It's not over until it's actually over. The beautiful part about crypto is that chains can always start again. That's what we have done. Don't ever give up.  Our quest is to return this coin to its full potential even if it takes time to convince users. Though this coin is international in scope, we are firmly grounded in the idea that it belongs to the Québecois. What better way to express your support for them than to support their coin?

Future Plans:

  • Working to develop merchant acceptance via QBC-coin.rocks, a stylish merchant directory
  • Developing plug-in via web to allow all forms of businesses to accept Quebecoin easily
  • Building on the newly developed API for Quebecoin to create new functionality
  • Invite third parties to join Quebecoin and achieve broader usability in the retail, payments, trading, and value transfer sectors. All these factors will set a higher value and purpose behind the coin
  • The more varied uses are the more value will remain in the coin itself which will draw new miners into the network
  • New exchanges are our long-term goal but for now we are focused on laying the foundation for future growth by developing the basic things that we will need to onboard new businesses

WARNING

        Nothing written here is guaranteed. Do not invest in Quebecoin with anything you are not prepared to lose. Do due diligence and your own research. Nothing in the crypto markets is guaranteed and we're not promising massive returns on your investment. Markets can change rapidly.

What's the use case?

        It's very simple. The use case will be the people who use Quebecoin now and in the future. If we can give people ways to use Quebecoin in the beginning new ways will develop every day after that. It depends on developing ways to make Quebecoin useful which will in turn bring value. This is not unlike our current monetary system in major ways. The coin is just an instrument that depends upon people to value it for it to gain in value. If we cannot develop ways and reasons to use it it will not be valuable but that is the purpose of our effort.

Fast Facts

  • Circulating supply as of 8/26 2019: 8788338.87924457
  • Block reward 0.125 per block every 20 seconds
  • Development fee per block 0.125 every 20 seconds
  • Algorithms: Scrypt, SHA-256, Qubit, Skein, Groestl, Yescrypt, Argon2D
  • No Max supply, but with existing block rewards 365 days of mining equals 394,200 total per year

What's the Point?

        Quebecoin needs to grow its user base over the next year in order to justify its continued existence. We have to show people there's a reason it exists and give them a reason to support it. We need to develop the community worldwide to show solidarity with Québec but also with each other using our coin as a mechanism. We need to give people an idea of what they can do with Quebecoin that they can't do with a lot of coins in the market. We need to develop a purpose in order to give it a stable value. We need to soften the edges and make it easier for new users to use and hold Quebecoin but also we need to develop a wide user base internationally so that Quebecoin can develop a worldwide sub economy based on itself. That may or may not happen but it depends on our ability to release valuable technology which will give people a desire to use our network. Our volume is pitifully low compared to what it ought to be in order to attract merchants. We will bring about more marketing in Québec and neighboring regions to increase awareness of this coin in terms of representing Québec and French Canadians generally. It's not a flaw to be based in a region that is proud of its history. In fact that is a positive which we embrace - in turn we hope to see Quebecoin embraced by its people.

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