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Topic: [ANN] TangoCoin - An Argentinian Equally Distributed Cryptocurrency - page 2. (Read 11541 times)

full member
Activity: 238
Merit: 100
Inject Its Venom Into Your Veins
What an idea. Smiley  Someone should extrapolate the idea and create a coin where everyone in the world could get equal amount for free. That could create a lot of interest in media etc, and people who might have heard of cryptos but just haven't bothered with them before, might actually make the effort and install wallet's etc to get their free coins and start doing transactions with friends and family and so on.

Awesome for Argentina though if you can make this happen.

Thats actually a good idea. If "Worldcoin" wasn't taken, we could use that. Have a currency based on a united earth, where everyone in certain areas get more than others e.g. Zimbabwe get more than say Canadians, because of our stance on our non-crypto economy".

What do you think?
member
Activity: 98
Merit: 10
best way to keep half of an entire currency i have seen yet. +1 for building the foundations for the worlds largest alt coin dump ever seen.

Yah if it even gets off the ground though...
newbie
Activity: 11
Merit: 0
best way to keep half of an entire currency i have seen yet. +1 for building the foundations for the worlds largest alt coin dump ever seen.
I will try to make this as transparent as possible. If you have any ideas to do that, i would appreciate that. It is very easy to verify digital signatures so it is possible to audit the escrow address permanently. Maybe I can release a webpage to do that too.
full member
Activity: 238
Merit: 100
best way to keep half of an entire currency i have seen yet. +1 for building the foundations for the worlds largest alt coin dump ever seen.

+1!
newbie
Activity: 11
Merit: 0
What an idea. Smiley  Someone should extrapolate the idea and create a coin where everyone in the world could get equal amount for free. That could create a lot of interest in media etc, and people who might have heard of cryptos but just haven't bothered with them before, might actually make the effort and install wallet's etc to get their free coins and start doing transactions with friends and family and so on.

Awesome for Argentina though if you can make this happen.
Thanks!
I know it would be better to distribute to everyone in the world. But it is technically not possible to verify uniqueness.
Also, domestic currencies are more common than worldwide accepted currencies. So, I think it is better to replicate that, but well distributed!
sr. member
Activity: 308
Merit: 250
best way to keep half of an entire currency i have seen yet. +1 for building the foundations for the worlds largest alt coin dump ever seen.
hero member
Activity: 966
Merit: 1003
What an idea. Smiley  Someone should extrapolate the idea and create a coin where everyone in the world could get equal amount for free. That could create a lot of interest in media etc, and people who might have heard of cryptos but just haven't bothered with them before, might actually make the effort and install wallet's etc to get their free coins and start doing transactions with friends and family and so on.

Awesome for Argentina though if you can make this happen.
newbie
Activity: 11
Merit: 0
I'm glad to pre-announce TangoCoin (TNG, ₮), the first Argentinian cryptocurrency, designed for the argentinian domestic economy.

I will try to explain why this coin is different to all other current coins and why it would be useful to the argentinian economy.

Why is TangoCoin different?
Half of the coins will be premined and distributed equally to all the population. The remaining coins will be mined by PoW+PoS.

Why Argentina?
Argentina currently is a country with very high inflation rate (25-30% y/y) and its domestic currency, peso (ARS), is devaluated on a daily basis (http://finance.yahoo.com/echarts?s=ARSUSD=X#symbol=;range=5y) so it's very hard to save or invest in pesos. The velocity of the money is very high and all big transactions (above 10,000 USD) are currently paid in american dollars.

Who will be able to ask for free coins?
Only natural persons who have a unique ID number of Argentina (DNI).

How will the coins be distributed to the population?
Each citizen will have to publish his tangocoin address signed with any certificate issued by any certificate authority approved by ACAP (https://pki.jgm.gov.ar/app/) and/or ACRaiz (https://www.acraiz.gob.ar/) or any future authority. After verifying the signature, 1000 TNG would be transferred from the escrow address to the citizen's tangocoin address. I will try to make this as transparent as possible (any ideas here are welcomed). However as not everybody already has a digital certificate, it is not possible to distribute unasked coins yet.

How can I audit the escrow address?
The escrow address will start with a 40 billion coins balance. Each transaction from that address will be verifiable that it was transferred to a signed tangocoin address (see above), verifying also the signature's uniqueness (so it wasn't asked twice).

What about interests in the escrow premined address?
It will be distributed too, so maybe it would be possible to distribute coins to the unborn future population too.

Can someone outside Argentina mine or use this coin?
Of course, I cannot forbid it.

When will it be released?
March 9th, 2014. (2014-03-09 01:00 GMT)
June 9th, 2014. (2014-06-09 01:00 GMT)


Technical specs:

Total coins: 80 billions TNG (plus 1% interest PoS).
Algo: scrypt (maybe scrpyt-jane)
Premined: 50%. Distributed: 1000 coins to each argentinian (current population: 40 million). None for me nor any collaborator, no giveaways.
Minitng PoW:
    1st year: 10 billions
    2nd-6th years: 5 billions yearly
    Last 5 billion coins: 2.5 billions, halving every year.
PoS interest: 1% yearly.
Blocks every 1 minute.
Difficulty adjusting every day.
Transaction messages

Anyone who wants to collaborate with this project is very welcomed. Any ideas are welcomed too.

Source Code (forked from GrowthCoin):
https://github.com/tangocoin/tangocoin

Topic en Español: https://bitcointalksearch.org/topic/tangocoin-criptomoneda-argentina-spanish-topic-espanol-385932
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