Topic: [ANN] GAYMoney - X11 - 20%APR PoS - LGBTQ CRYPTOCURRENCY - page 2. (Read 2429 times)

MAXIMUM supply will be 10 billion coins. Half of those coins are intended for simple circulation.

The other half were premined and set into the non-staking Foundation wallet, which has the address: gLsrjEbo31wmXZQssAeGyrw4CwBZgxafev.

These coins are intended for use as a self-sustaining, slow release philanthropic fund that will provide the charitable arm of this project. The decision making towards release of these funds to specific charities, or individuals, will part of the public process achieved thru incorporation and leveraging votes based upon signed transactions and verified threshold of stake. Because we will be tying our forthcoming GAY-Exchange fiat gateway and our GAY Money base market better.exchange into our corporate identity, we will incentivize ownership and possession of GAY Money thru proportional profit sharing of profits generated thru GAY Money managed and related platforms (thru fees, advertising, etc). We will allow for a characterization of Share Classes to reflect individual investments into the project.

We have not set the balance thresholds for Share Classes thru incorporation in stone as of yet, as we are still finalizing the Articles of Incorporation. We want to ensure that a reward structure exists that allows those who invest in the project, who contribute to its operation, have not only the right to vote on how the endowments from the Foundation wallet will be spent but to receive a portion of the profits - in GAY Money - over and above the 20% APR generated thru staking, generated by the further advancements we make in the system, the fiat-gateway and exchange being simply the current most important item on the agenda.

I should further state that the bounties and stipends related to GAY Money campaigns will not be paid out of the Foundation wallet. Over the years, the project lead, George Lawin, has worked with the project, ensuring its presence on the exchange, and has performed many small "buy-back" campaigns. Funds for investing in LGBTQ related businesses, as well as operational costs associated with running the GAY Money blockchain will be processed thru these acquired developer reserves. GAY Money has never had an ICO to raise funds for operation, but we feel we have also created a self-financing system to reward its proponents.

The current FULLY CIRCULATING supply of GAY Money is a little over 618.3 mln GAY, although a high proportion of that remains in developers reserves. George has possession of a large proportion of those funds, which will be used to fund the project. I, myself, have a developer's reserve of a little over 1 mln GAY, and as part of our corporate structuring ideal, it will not be permitted to fall below that threshold while I am employed as a member of the Board of Directors.

Overall, although coinmarketcap.com doesnt protray the total weight of the GAY Money network properly on the main page, you can see the total currency value at https://coinmarketcap.com/currencies/views/market-cap-by-total-supply/ which shows GAY Money, as a project, currently maintains the #23 spot OVERALL for market capitalization.


We will have plenty of bounties, and have already had several as we geared up for the rebranding and reinvigoration of the project.

GAY Money was a sponsor of one of the participants during the Utrecht Canal Pride Parade (http://www.utrechtcanalpride.nl/) who used the opportunity to hand out GAY Money paper wallets to festival-goers. Cafe Flater (https://www.facebook.com/Cafe-Flater-183518494996338/)began accepting these paper wallets as payment during the estival, and I have had a few ongoing conversations with the bar owner regarding continued use.

We were also presented a tipping bot slot by Cryptopia during Pride Month, and presented a generous unannounced bounty to those who liked and commented on Cryptopia's announcement regarding honouring GAY Money for Pride Month.

More bounties will become available, and generally on a measured basis. We will post separate threads in the appropriate sections when these come up, and present a link on the OP to those threads along with a general announcement. Ive studied the bounty programs of many cryptocurrency projects along the way, and we will have bounties set for Twitter and Facebook campaigns, for sig and avatar campaigns, banner design campaigns, et cetera. All of those opportunities are important in building a vibrant cryptocurrency community, and we will have our first bounty campaign in the very near future.

Block Explorer - gay.steeppool.com

50 MB block sizes is the block size limit for transactions. the block size limit prior to SegWit on BTC was the reason why so many transactions were in the queue and could take, at time, up to 18 hours to confirm. if there are no transactions in a block, it will only contain headers. if there are 10 transactions processed in a block, then the size of the block will only represent the data needed to record those txs into the blockchain. the 50 MB block size data limit represents the upper limit of transaction data that can be included in ONE BLOCK.

thus, we CAN, without issue of delay, process 512 million transactions on the BAY Money blockchain daily. naturally, the system faces nowhere NEAR that sort of traffic presently, and would unlikely ever need to deal with that sort of traffic. consider that the record number of confirmed daily transactions on the BTC network is just over 369,000 (on may 13, 2017)... simply, the block data size limit on the X11 algo GAY Money utilizes permits the sort of sheer scalability that will ensure that transactions are processed nearly instantaneously, far into the forseeable future.

the current size of the blockchain data file stored on my harddrive, representing several years of operation, is only 208,296 bytes.

our previous explorer at http://104.236.2.124:3001/ ceased operation a week or so back. we are setting up a new block explorer with thecryptochat.net and should have it online within a day or so. i will update the OP and reply directly to this question again when we have that set up.

as for difficulty, the console in the desktop wallet features the "getstakinginfo" command, which currently reports:


naturally, your own "weight" will reflect your wallet balance and accumulated coin-age.

calculating rewards is a little easier, as ive watched my developer's reserve stake consistently for several months. the simplest formula, considering the 20% APR presented by this currency, is that 2000 GAYcoins will produce 1 GAYcoin in interest daily. as with any Proof of Stake currency, the frequency of staking will depend on the user's balance compared to the total number of coins being staked, and while a 2000 GAY balance might take a few days to stake at first, calculated interest through coin-age will be factored in. and like other PoS coins, the estimated time to stake will look daunting at first, and will reduce in time very quickly.

(i sent 5000 GAY to a friend to test out the staking of smaller balances than the weight of my developer's reserve, and it took three days to stake for the first time, and presented him with 7.7762 GAY on his first stake. it has staked each day since, generally several times a day, and fluctuates in total staking between 2.35 and 3.15 GAY daily.)

total suply is big 10 billion coin
with premine 2 billion coin, plan open bounty or not dev, with premine is big i think is good if open bounty or airdroop

Reserving Finnish translation / proofreading if needed and bounty offered.

Please get in touch with me, and good luck with your project!

i have a question. Block without transactions 50mb too or its less then 50mb?
i think 50mb every minute its pretty crazy and your GayMoney wanna fuck my Drive C:\\

Do you have an explorer out yet? I'd be keen to be able to see how many coins are in circulation, rich list and of course what difficulty and rewards one can expect.

In what period are added landing? Good luck with your project.

GAY Money (GAY) was launched originally in 2014 as GAYcoin, and has quietly chugged along, producing a stable blockchain with low fees,  lightning-fast transaction times, and a sustainable 20% APR on active balances. This project was designed to provide a digital currency brand marketed to the LGBTQ community, with a focus on providing real world utility. The underlying mission of the GAY Foundation, powered by GAY Money, is to administer philanthropic funding earmarked for LGBTQ awareness and advocacy, HIV/AIDS research and support, and women's shelters worldwide in a long-term sustainable fashion; and to engage in targeted investing in LGBT-owned businesses and services.

The current goal for the 3rd quarter of 2017 is also to integrate GAY Money as a cryptocurrency into a corporate body - GAY MONEY LTD - registered in the UK, and we will be bringing forth several upgrades and enhancements to the GAY Money ecosystem alongside this change, including launching a GAY Money-branded fiat-gateway and exchange as well as setting up retail integrations both online and at local LGBT-owned and -friendly establishments with consumer incentivization programs and reloadable GAY Debit cards. The goal is to provide a secure and reliable currency that will be represented across the broad spectrum of the LGBTQ community and market.


Niche-market cryptocurrencies are important, and can be very successful if their target demographic market is large enough, shows a preference to brand loyalty, and can present an avenue for effective retail utility. The global LGBTQ+ market - estimated at a population of 450 million individuals, collectively represents about USD$3.7 trillion in annual spending power, and a specific pride of community and projects supporting it - meets all these needs for a successful niche-market altcoin. We feel offering a durable and borderless digital currency for the LGBT commmunity will also provide a form of financial self-identification, and present a ready alternative to current financial options from an established project and community which values their diversity and understands their needs.

As a market-ready digital currency, we are well positioned to take advantage of many emerging LGBT retailers online, and we are already working with LGBT tourism operators and "bricks-and-mortar" businesses and services to accept GAY Money in their establishments. We offer far lower transaction fees and verification times than Bitcoin does as a value transfer engine, with the same ease of use. We hope to become regarded as a healthy alternative for merchants who choose to embrace decentralized economies while at the same time showing active support and Pride for their local LGBT community. And we plan to GIVE BACK to these communities with humanitarian grants and sponsorships, to support artists and students. With a global ripple of increased market utility, we will drive the value of philanthropy the Foundation can deliver in a self-sustaining fashion.  

GAYcoin itself was launched in 2014, by George Lawin, but after dealing with predjudicial attacks in the forums as well as in personal messages, the previous [ANN] threads were locked. Mr. Lawin did remain working with the currency, securing its listing on Cryptopia, and working towards his original goal of providing a legacy of support to the LGBT and HIV/AIDS charities and rights programs. I have come on board, having worked with SOILcoin for the past year and a half (and remaining working with that project), bringing with me an understanding of the paradigm shift we are approaching with cryptocurrency and blockchain tech in general, the ease of integration, and the unique global market this project can reach and serve in ways that Bitcoin cannot.

We have chosen to begin the process of registering for incorporation operating the Gay Foundation thru GAY MONEY LTD, and will operate as a self-funded development team towards building and maintaining a global GAY Money marketplace, buiding and maintaing a sustainable global philanthropic and LGBT rights network, and using GAY Money to invest in LGBT businesses. Cryptocurrency, in its many forms, will form the backbone of the future economy. We want to ensure that our project maintains the highest standard of how a cryptocurrency project can be a real world value item, a profitable enterprise with self-sustaining wealth and wage generation, and promote equality, diversity, humanity and love across the world by lifting up and assisting from the grassroots.

As before, the driving goal behind the GAY Foundation remains to "encourage equality, nurture diversity and eliminate hate". As such, the non-staking Foundation Wallet [gLsrjEbo31wmXZQssAeGyrw4CwBZgxafev] will be used to support charities, non-profit organizations and individuals worldwide in an effort to help raise awareness, to combat discrimination and help lobby for LGBTQ rights worldwide. We believe in an underlying principle of "absolute inclusivity" and celebrate every diverse form of humanity. The community will have a right to have their voice heard on where we can have the greatest impact on peoples lives, and we hope to also give a voice to these various groups and individuals with our GAY.news site, which will start off as a newsletter, but for which we have the view to provide relevant features, news and interviews that intersect both the cryptocurrency and LGTBQ communities. Investments into LGBTQ businesses and enterprises will be made thru the developer's own funds and will not be taken from the Foundation balances.

Currently on this planet, fully one-third of nations have laws prohibiting homosexuality, with punishments ranging from imprisonment to the death penalty. Fully one-half of the nations of this world have no protection against discrimination and human rights abuses towards the LGBTQ community. GAYmoney, and the GAY Foundation, will strive to be the voice that speaks out against this bigotry and senselessness.
Cryptocurrency CAN have a meaningful impact on real world issues, it can be a protocol that can survive outdated political institutions and become a vehicle for change in societies where the LGBT community lives in fear to this day.

We do not view this as an overtly POLITICAL altcoin, moreso, with increased market utility and demand, we are pursuing the economic equilibrium where retail users of GAY Money support the charitable aims of the project by continuing to provide liquidity and increasing value. We will aggressively pursue retail integrations, and have so far been operating with a "think globally, act locally" point of view, I have had discussions with several local community-owned businesses that are more than ready to accept GAY Money in their stores, and will be set up as this summer goes along and we have more of our architecture arranged.

Local reaction by business owners towards accepting GAY Money has been entirely positive, and many business owners have expressed that they would accept it simply BECAUSE it supports their community, directly and indirectly, that THIS is the sort of project that truly EMBODIES the idea of Gay PRIDE. The simple fiscal advantage of lower overall fees compared to bank, credit card OR Bitcoin fees, coupled with nearly-instantaneous and irrefutable transaction confirmations becomes an added bonus.

To encourage community support and involvement, we are equalizing the principle of corporate shares classes, and the rights those import upon shareholders, with the underlying currency GAY Money. With implementation of industry-standard KYC/AML services and "signed transactions", GAY Money investors who hold a verified minimum threshold of currency in an active wallet will have voting rights to help direct where the philanthropic funds are sponsored towards, as well receiving a proportionate dividend from the profits generated from fees on the better.exchange and fiat-gateway site. Members of the Board of Directors will maintain a much larger threshold of active currency, maintaining consistent network security with stable held equity.


We will be maintaining this thread with news and updates, and encourage an open and lively discussion on the project, the role of cryptocurrencies in niche markets and the future economy, and how GAY Money can help in your community. I encourage you to ask lots of questions so that we can build a highly informative FAQ for our website. I *DO* ask that if you simply want to engage the conversation with intolerant and discriminatory remarks, that you take it elsewhere. I appreciate every point of view, but will report prejudicial and senseless discriminatory authors to site administrators. We are a community of professionals, and we should conduct ourselves professionally. Be an adult and do not insult or put down other participants. Harassment and other exclusionary behavior is not acceptable and will be reported.

SPECS

Algorithm:      X11 (PoW/PoS hybrid) *PoW ended block 18000. NOW PURE PROOF OF STAKE.
APR:              20% interest on active balances
Min. Stake Age:  8 hours
Max. Stake Age: 9000 days (essentially unlimited)

Block Time:   60 seconds
Block Size:    50MB

Max Coin Supply: 10 billion
*5 billion coins were minted on the genesis-block, which have been locked in the non-staking Foundation address which can be viewed at http://explorer.gay.money/address/gLsrjEbo31wmXZQssAeGyrw4CwBZgxafev

These funds will be used, with stakeholder input, to perform the philanthropic arm of the GAY Foundation's mandate, operating as a self-supporting fund that will provide charitable support for generations.

Min. Tx Fee    : 0.00001 GAY

Confirmations  : 1 confirmation for transactions
                        100 confirmations for minted blocks

Connections:     Ports: 24241 (connection) and 24242 (RPC)

WEBSITE
http://www.gaycoin.online/
http://www.gay.money/
http://www.gay.foundation/

DOWNLOADS
Windows - http://www.gaycoin.online/wp-content/uploads/2016/04/GAY.zip
Mac - http://www.gaycoin.online/wp-content/uploads/2016/04/GAYCoin-Qt-OSX-v1001.zip
Linux - http://www.gaycoin.online/wp-content/uploads/2016/04/GAYCoin-qt-ubuntu.zip


Android - bounty available, please contact dev (email:[email protected])
iOS      - bounty available, please contact dev (email:[email protected])

BOOTSTRAP.DAT - https://ufile.io/8s27d

GITHUB SOURCE - https://github.com/Gaycoins/GAYcoin-Online

BLOCK EXPLORER - explorer.gay.money (hosted by thecryptochat.net)

FAUCETS

http://faucet.gay.money/ -receive 100-500 mGAY once every 60 minutes. 15% referral program.

EXCHANGE


**We'd like to thank the administration at Cryptopia, once again, for their wonderful support in promoting GAY Money during Pride Month in June, as they generously gave GAY Money a tipping bot and reward bot.**

exchange.gay.money (coming 4thQ 2017)
better.exchange - (coming 2ndQ 2018)

SOCIAL MEDIA

The GAY Money Gazette - gaymoney.news
Facebook - https://www.facebook.com/GayCoin/
Twitter - https://twitter.com/GayCoin

TRANSLATIONS

Indonesian - reserved by Robotbitcoin22
Finnish -      reserved by SonOfNorth
Greek -        reserved by killerjoegreece

SPEND YOUR GAY Money HERE!

https://gaymoney.market/ - this GAYmoney owned site will maintain a "rainbow pages" directory of GAY Money accepting merchants and artisans, and will welcome advertising from any LGBT-owned and -friendly business. (presntly a basically informative landing page) - site ready October 2017

Cafe Flater (Utrecht, Holland) Cafe Flater began accepting GAY Money this year during the Utrecht Canal Pride Parade.
- (https://www.facebook.com/Cafe-Flater-183518494996338/?rf=133435300043393)

media kit -  https://ufile.io/o3e4z

WE ARE HIRING!!!

The LGBT community is a global chorus, and as such, we want to make sure that our project's voice is heard in every corner of the world. We are seeking community members willing to act as regional GAY Money ambassadors. We will be incentivizing this with weekly stipends, and naturally, in the spirit of reaching every corner of the cryptocurrency ecosphere, we will be looking for translators to transcribe this forum OP as well as official news releases and updates on an ongoing basis. Please contact Abvhiael ([email protected]) to discuss these positions.

BOUNTIES

Watch this space for links to any ongoing social media bounties

CONTACT

Abvhiael Crowley
([email protected])
George Lawin
([email protected])