Yeah I noticed lots of transactions being reversed between September 24th and October 2nd. Some Pirates seem to have been digging loot mined by other pirates earlier, leaving behind only empty chests. I guess pirates will be pirates.


The pirate thing is just a fun theme so currently it's not that much different from most cryptocurrencies that came before it or in the several years since. The one thing it did have going for it was a low coin cap at 8m coins overall and a fair start. It was traded on Cryptsy for a couple of years but has not been listed on any other exchange since Cryptsy collapsed. People such as myself and kelsey who have been holding on to coins for years want to reboot the coin, get it listed on an (or several) exchange(s) and encourage people to create services for the coin in exchange for bounties giving it an actual purpose and real world value.

Discussions are still ongoing but the current favourite option is to start fresh with a new Proof Of Stake based wallet, premine the 8 million total coins that DBL was supposed to generate before becoming solely transaction fee based (a landmark which we're currently less than 2 weeks from reaching on the current client although a bug will mean the old client will continue paying in full past this point). The premined coins on the new client would then be swapped 1:1 with those generated on the old client up to and including block 1,181,684 (8m DBL generated).

We are aware that a number of coins were lost when Cryptsy stopped processing withdrawals and ultimately collapsed. This in addition to people who may have lost private keys etc. means there will inevitably be an excess from the 8 million premine after any swap is completed. What we would like to do is use these excess coins to pay bounties for services. This is something we would like to put to a vote as part of any coin swap so for every whole DBL you own you get one vote for what to do with any excess the two choices would be:

1. Hold them for bounties.
2. Send them to a burn address to make them forever unspendable.

Of course in the event of the former being the most popular option no one person should have the power to spend these coins so multisignature approval will be required to spend these coins and as such we'll be looking to create a foundation to work for the betterment of the coin and vote on how best to allocate any excess coins. Membership on the foundation will require a sizeable portion of the members own personal holdings to be locked up with assurances they won't be traded. (They will however be permitted to stake these coins and do as they choose with their PoS interest). In doing this in cooperation with the fact owners will be gaining interest on the coins they hold in their own wallet we hope to mitigate any subsequent dumpage when the coin actually does get relisted on an exchange as people should be more likely to want to retain possession of their own coins.

It may also be advisable to rebrand the replacement coin as although DBL was the first to carry the name Doubloons it has recently been recycled in the unaffiliated BOAT and two coins carrying the same name (albeit with different tickers) would lead to unnecessary confusion.

What it boils down to is we want to try and get this coin back on it's feet and build a sustainable future, not just dump our holdings and move on.