AUGUST 8th, 2013 – With Bitcoin receiving such widespread attention recently, a major criticism is a currency being created out of nothing. That’s not really true, it’s just not completely understood.
When a customer buys a product from an online retailer, it takes computing power to process the transaction. Normally these are stored in a data center and in a single location. The aim of the crypto currency is to allow the miners to print the money, rather than a centralized source, such as the federal reserve. Crypto currencies compensate the miners by distributing the work load across a network and rewarding the computers processing the transactions, also known as miners, that are paid in the currency they are providing computing power for. The more miners a network has, the more secure it will be, and the more resilient to attacks on the block chain.
Following the success of Bitcoin, many new currencies have emerged in 2013. Some of these succeed and some of them fail quickly. Some of them have funny names, and some of them are serious business models. As these currencies become more socially accepted, the silliness will weed itself out and the real businesses will flourish. These currencies are traded on various websites, much like the stocks on Wall Street, but a lot more forgiving if you make a few bad investments due to the security of being paid for mining. This has brought about a new, younger generation of investors. There is an even mix of people in it to make a quick buck as there are people interested in being here for the long term projects.
The currency known as Spots is one of the newest releases of these alt coin projects. Released July 21st, 2013, Spots will aim to provide both gold and silver to our miners, as well as investors on the exchanges such as coins-e.com and as of today on Cryptsy.com. Spots was added and traded within days of its launch. Today, August 8th, 2013, marks the day Spots is listed on Cryptsy.com to be traded to a more wide spread audience. As of today, there are still less than 420,000 Spots mined on the entire network, and they are worth nearly a penny each in only a few weeks of existence.
Spots differs from other currencies In that it was created for one purpose; to invest in precious metals, such as gold and silver. The exchange between Spots and precious metals is now backed by a legitimate, legal business, known as iGotSpots and based in Wisconsin. At the time, only silver will be available for purchases while we build up total network value through mining and trading to get the currency into more hands prior to large purchases and keep it truly decentralized with a soft backing in both gold and silver. Orders will start being taken this weekend and will have an estimated delivery time of 8-10 business days from purchase date. Contact us privately for more information on investment opportunities with the precious metals exchange. This includes investment returns in either Spots or gold and/or silver. This project will continue regardless of public investment. iGotSpots will cover the difference, but we are offering competitive rates and rock solid confidentiality.
In the future, Spots will feature an auction site that will allow users to buy and sell their own precious metals for several currencies in an auction setting. This is not coming right now, but it is the second project we plan on investing into after we get the exchange stable and there is enough market value to get gold traded among the miners and investors, as well as traded on more exchange markets. We will also feature our own silver and gold purchasing services paid to you in Spots. More information on these features will be coming at a future date. Lealana coins will also be available for purchase in Spots
Now…Why choose Spots and not just stick with Bitcoin and Litecoin?Spots had one of the fairest launches to date, as well as securing the acronym SPT, or Spot Price for the crypto to gold and silver price providing a single, fair, standard price.
There was no premine or instamine at all. 2 pools were available within hours of launch, as well as clients for Windows, Linux, and even Mac when Spots went live. Two fast and accurate block explorers can cross confirm the launch was as fair as a launch can be. With an average network hashrate near 100 mHash and spikes as high as 700, Spots has stayed stable and the difficulty has adjusted properly to accommodate all the fluctuations to date. With 70 second blocks, these coins are still fairly rare. Now is the time to buy Spots and put your hashes to a purpose. Let us help you invest in precious metals with the hashpower you are already using. You can also trade Spots for Bitcoins, which you can cash out just like your original plan was anyway. There is an active community and development team available to assist you at all times. The total investment we are willing to take from interested parties now will not exceed the value of the coin, according to coinmarketcap.com, which currently is around $4,200. Today the cap that will be accepted is 40 Bitcoins. iGotSpots will be exchanging the metals and coins to provide the difference between public investment and the actual market value. This will allow miners and investors to cash out at any time in gold and silver and leave us with all the Spots should they become worthless. We are taking the risk, should the currency fail.
There are only a total of 100 shares currently available for 0.4 BTC each for a combined total of 40 BTC of public investment.
These shares will be purchased back in no later than 4 months from purchase date - minimum of 120% initial purchase price
iGotSpots shareholders can expect initial purchase price + 20% as a return with payments being made no later than 4 months from the date of purchase. Shares will be purchased from investors and paid in Spots, gold, and/or silver
iGotSpots will be the second legal business I have owned since 2010. After operating a successful carpet and tile cleaning company for 3 years, I believe the future is in gold and silver. When I discovered crypto currencies, there was a niche that needed to be filled. That niche is a currency that will yield actual, physical wealth, rather than just increased electric bills and coins to spend on a poker site. For more information, contact me at
[email protected] or right on bitcointalk.com
-- Pfeff, iGotSpots
More information on Spots can be found at bitcointalk.org/index.php?topic=259764.0
Click here to purchase Silver Bars, Rounds, and Lealana Litecoins with Spots
MORE INFORMATION NOW AVAILABLE AT
iGotSpots.com
