Will this coin demand transparency from each charity it donates to? This is a HUGE decision factor for me.
http://www.charitynavigator.org/index.cfm?bay=search.summary&orgid=3277 < Red Cross Charity Transparency Rating among other factors for rating.
Some charities are greed mongers and will stop at nothing to write off million dollar personal expenses as 'working toward the goal of the non-profit' which gives a very far fetched understanding of what 'Non-Profit' really means.
I used to work as a cold caller for a 'non-profit' charity foundation. Actually we were contracted for multiple 'non-profit charities'.
ICOPS- Illinois Counsel of Police - Basically calls you to sell you a sticker for your car window and receives 87% of the collected funds. The remaining 13% goes to a very tight nit group of cops in Illinois.
Same with many others.
Topic: [ANN]Concept for Charitycoin! 50% of mining revenue goes to charity. - page 2. (Read 1080 times)
June 19, 2013, 01:45:52 PM
June 19, 2013, 01:43:14 PM
And so it begins, the abstraction of cryptocurrencies. I welcome Beeb.
June 19, 2013, 01:38:34 PM
Announcing a concept for a new coin: (I am putting together a Dev team)
Charitycoin!
With Charitycoin, 50% of all coins go to charity. There is a 50 coin block reward, 25 to miners and 25 to the charity address, from blocks which generate at 10 minute intervals, which stays constant until a hard limit of 200,000,000 coins are reached. That means mining will probably go until 2089, if it was started this year.
Advantages:
Charities, instead of soliciting for donations, would be able to get a steady supply of donation money from miners. Because the reward for miners is 25, and the fact that there is a coin cap, it should be a coin to mine that both provides a spiritual as well as a monetary reward. Devcoin gives 95% of coins to miners and there is no cap, so each coin is worth very little. With charitycoin, there is a cap and 50% (900% more than devcoin) is given to miners, increasing its value.
How will charities receive this money?
The 50% charity money will be sent to a "main" address and from there it will be distributed to charities. For a charity to be selected to receive coins, research will be done and public opinion considered. Once the charities are approved, charities will download the client and get an address to start receiving coins. Because it is aimed at charities in the beginning, the blockchain will not be a preposterous size and charities will be able to download it with ease.
Which charities will receive money?
At the moment, charities that will receive money are the big, well-known ones, (such as the Red Cross) but as the coin grows, more charities will be able to receive Charitycoins.
Why will people mine Charitycoin, not some other coin?
With the adequate block reward and coin cap, it will become more valuable as time progresses, but also, people will be able to see a difference made in the world by their GPUs and ASICs (Scrypt or SHA-256). There hasn't been much happenings with Devcoin, but with charitycoin a profound difference will be made.
Join the Dev Team!
PM me and join the Charitycoin Dev team! If you are a cryptocurrency developer, web developer, or graphic designer, you are needed! Most of you regularly receive pay for doing your specific craft, but please try to put people who need Red Cross aid before the need to be makin' some BTCBTCBTC
If you want, we may be able to forever memorialize your name (or bitcoin talk username) in the client of our coin! 
Charitycoin!
With Charitycoin, 50% of all coins go to charity. There is a 50 coin block reward, 25 to miners and 25 to the charity address, from blocks which generate at 10 minute intervals, which stays constant until a hard limit of 200,000,000 coins are reached. That means mining will probably go until 2089, if it was started this year.
Advantages:
Charities, instead of soliciting for donations, would be able to get a steady supply of donation money from miners. Because the reward for miners is 25, and the fact that there is a coin cap, it should be a coin to mine that both provides a spiritual as well as a monetary reward. Devcoin gives 95% of coins to miners and there is no cap, so each coin is worth very little. With charitycoin, there is a cap and 50% (900% more than devcoin) is given to miners, increasing its value.
How will charities receive this money?
The 50% charity money will be sent to a "main" address and from there it will be distributed to charities. For a charity to be selected to receive coins, research will be done and public opinion considered. Once the charities are approved, charities will download the client and get an address to start receiving coins. Because it is aimed at charities in the beginning, the blockchain will not be a preposterous size and charities will be able to download it with ease.
Which charities will receive money?
At the moment, charities that will receive money are the big, well-known ones, (such as the Red Cross) but as the coin grows, more charities will be able to receive Charitycoins.
Why will people mine Charitycoin, not some other coin?
With the adequate block reward and coin cap, it will become more valuable as time progresses, but also, people will be able to see a difference made in the world by their GPUs and ASICs (Scrypt or SHA-256). There hasn't been much happenings with Devcoin, but with charitycoin a profound difference will be made.
Join the Dev Team!
PM me and join the Charitycoin Dev team! If you are a cryptocurrency developer, web developer, or graphic designer, you are needed! Most of you regularly receive pay for doing your specific craft, but please try to put people who need Red Cross aid before the need to be makin' some BTCBTCBTC
If you want, we may be able to forever memorialize your name (or bitcoin talk username) in the client of our coin! Jump to: