Topic: [ANN][NOICO]Suicide Coin | FULL POW | Scrypt [COMMUNITY] - page 4. (Read 12824 times)

Hello gandalf, as you can see i have a roadmap in minde, releasing the coin with ugly wallet, in about 2 days the new wallet will be released, but only with basic functions, there will be only the classical send/receive/transactions/addresses functions available.
One to two weeks later there will be the second release with addCoin and exchange. After this, i will need around a week again to make the exchange functionnal.

now for the exchange, first some terminology :
when i say exchange, i mean the suicide exchange
when i say selling the SCD i mean external exchanges

now for the exchange, after the vote period ends, anyone will be able to buy/sell SCD/??? at the resired rate, the initial rate will be set by me proportionally to the dead coins coin supply. Now here it will depend on everyones trading skills, as there will be no fake folumes/transactions, you can earn a lot exchanging SCD for a dead coin, or, loosing it all, but what ever happens, at the end of the 5 days trading period, all the dead coins will be burned.
The objective is to trigger a high trading frequency on the dead coins, so, if you are a dead coin bag holder then you will sell them for SCD, the SCDs will come from traders who are interested to play as the volatility will be high. The outcome will depend on each ones trading skills, if you are a trader, and have been able to buy and sell with a profit, then lucky you are, if you are a bag holder, and have been able to sell, but been too greedy you bought some back and loosed them, then you are doomed.
You can earn a lot from dead coins speculation, but at the end, all the remaining coins will be burned except SCDs, so during this period people will have to buy SCDs in external exchanges to participate, it is the Suicide Exchange. You can earn a lot, as you can loose everything.

Now for the white papper, the deadline will be the exchange's release, as of now, you are the winner, but please be more expressive, a paragraph may not be enough. I have to finish the wallet first, and then i will be able to turn back to the coin as the wallet is the main feature of the project.

Martbob, not trying to be annoying but how long will the whitepaper contest go? You said it's been extended but we've now passed the original deadline by one week ...  

So when old coin holders decide to "Seppuku" their coins, they will get some SCD right? Where do these SCD come from? How much will be received that way? I'm afraid that given the huge amount of dead coins, SCD coin supply would increase pretty fast. People would just exchange their old coins for SCD and dump them on Yobit, so we would end up at 1 SAT pretty quickly as well ...  

The problem is that there is no real stuff you can spend SCD on, because nobody makes substantial profit from burning coins. The only way to get some value out of SCD is by selling them. Not trying to be harsh, just pointing out a possible problem here.

Interesting graphic, and I like the idea behind the coin. But i have a few small points/questions. first:
1)_{The whole project had been done in 24h, except the logo, i did 15 days ago.}
As a potential investor, this can be a little daunting. I understand the point you were trying to make in your post, however this particular quote can turn a fair number of people off.

2)Is there a particluar reason why you chose to go with scrypt as an algo? are there plans for an algo change in the future? there are many schools of thought as to 'what is the best algo' and I'm not plugging any specific one, but why scrypt? with all of the asics out there, it makes it difficult for a small miner to join the coin/communtiy.

Just things to think about. That being said however, I plan on throwing a few hashes towards this coin ... even if only to say I own some

So, here is an example of why suicide : https://yobit.net/en/trade/VAL/BTC check the fenomenous quantities for sale at 1 satoshi, imagine you have an exchange who will burn these dead coins, who may end-up reviving them, or, help some traders, or miners to get back some money.
If SCD hits 25k satoshi, this coin will be suicided at 0.00001SCD/1val, calculate the price, and the outcome of such an operation.
So basically, SCD will offer market cleaning exchanges and coin owners/communities.
Have you seen John Weak ? SCD will act like to cleaners, cleaning markets from useless, dead, overflowed coins.
Why i want to activate the suicide protocol at 5Mil coin supply ?
Because i need time to work, it won't be proof of stake, it will be proof of suicide, POSCD, as i used a new tech for the wallet, i will do the same for the blockchain :
- Martob is holding 100k SCD, during 6 months, he sold every month 5% of his total balance, over this period 30% of his balance have been sold, so he still have 70% of coins, who are useless in reality, so, the blockchain will take from him 70% the half of what he sold (sent), and then she will burn them, (15% of 100k SCD = 15k SCD).
- The time will be calculated based on the last received transaction, if this value is higher then 6 months in timestam, start suicide protocol.

It will greatly help exchanges to clean they SCDs if no one is using them. And put pressure on traders.
100k would be the minimum balance for the suicide to be activated, so the conditions are : 1- Balance higher then 100k && 2- Last received tx time higher then 6 months in timestamp.
All of these are just protypes, who i am going to upgrade with time, but at least i wanted you to know what would it becaume.
But the coin will remain a proof of work.

By the way, if the price goes up the 20k satoshi, the market cap will be 800k$ with 5Mil SCDs. That would be a nice score.

Instead of releasing an ico and as everybody here just to feed their pockets by dumping the coins, i decided to the reverse, and i inspired from satoshi nakamoto, it is true that bitcoin can be used evrywhere today, but he started in darknet.
I decided to first start a project, and then a prototype, and upgrade it everyday, i putted a voice, and a direction to the project wich is the dead coin cleaning, and i will move along with all the capacities i can provide, untill this projects finds his own road.

i don't want to challenge bitcoin or .... i just want to clean all these dead coins as nobody wants to do it. because delisting a coin doesn't means destroying it, so if a dev wants to relaunche a project, he will just have to recreate it as the main dumped coin will be out of supply. This is why this coin is a gift to everybody. But i have a good strategy to make the wallet's code verified, as it will be closed. (the daemon and qt wallet won't)

I think the market value should be a little supported and appealing at the very bottom.
so pump pump

i guess the name was just an attention catcher, so as with the way the dev presented his coin on this thread, it looks like a joke but definitely a very serious project.

I'm curious about the name of the coin,because it getting a lot of attention but I wonder if mass adoption happens with this coin,will it have a negative effect in the society,this is not a good name for any coin but it;s to late turn back.

This is getting pretty complicated now. How will spending them stop them from committing suicide ?
Also you say we must keep the prices up. Yes you are saying these things but how do we achieve them that is  the thing ?
We don't know exactly what you thinking. The text you provided was very helpful though.

would be easier to do via input age, and every 24 hours, wallets would send coins (either by individual input, or by all in address) to itself . (fee free ofc)
it would make more sense to combine all coins in a single address unless you decide to integrate PoS and depend on inputs for network security.

plausibly similar to PoS, where minting is responsible for this with perhaps a small % gain.
if coin age is over 7 days, it will deduct 10% for each day over ??

ofc, the difficult bit will be monitoring aged coins.


Frei Coin has some method to do similar with coins over a certain age are taxed.

Unlike Bitcoin, Freicoin has a demurrage fee that ensures its circulation and bearers of the currency pay this fee automatically. This demurrage fee was proposed by Silvio Gesell to eliminate the privileged position held by money compared with capital goods, which is the underlying cause of the boom/bust business cycle and the entrenchment of the financial elite, and has been tested several times with positive results.
http://freico.in

Demurrage is the cost associated with owning or holding currency over a given period. It is sometimes referred to as a carrying cost of money. For commodity money such as gold, demurrage is the cost of storing and securing the gold. For paper currency, it can take the form of a periodic tax, such as a stamp tax, on currency holdings. Demurrage is sometimes cited as economically advantageous, usually in the context of complementary currency systems.
https://en.wikipedia.org/wiki/Demurrage_(currency)




.
question is how exchanges deal with it.
cold wallets would be taxed mercilessly,
perhaps you could integrate veto "keys",  where a wallet could use that key in transactions to remove tax.

this would be a form of centralisation though as the keys would be distributed by the dev, and for long term security would need to be updated semi-regularly to prevent illegal use of those through sharing.
but, given the voting process for other chains requires also dev intervention, this will not necessarily be a problem.

lol. i think you might be a tad too excited, for a coin like this, 1 hours work should be fine.
but even then whether 10k SCD's will ever be fair recompense ??

edit.
see post below,
hehe i've always been intereted in Frei coin, and when thinking a bit more realised the similarities.

Great ! I was just about to ask.
Works fine now.

addnode=98.115.147.74:8119
addnode=91.121.67.93:8119
addnode=104.238.190.65:8119

fresh list of nodes :

addr" : "98.115.147.74:8119"
"addr" : "91.121.67.93:8119"
"addr" : "104.238.190.65:8119"

I will wait you honey 
But don't tell it to my wife !!

Hahaha !! We can both be your gf Now give me some more coins xD I will send you my address in a pm as soon as the download finishes. It is slow for some reason. Thank you for letting us know how far you are with everything and what you are doing. It is good to know these things.

node pls

sorry other coin,,

Yeah sometimes shitcoins freak me out forcing me out of my comfort zone, and I start running in a random direction screaming nazi hymns and showing middle finger to the crowd that stares at me. I've never been so low, and this all is due to the scary image of this coin that impacts my psychological health.

If my wife reads this message, she will be jealous  i may fall in love of you if you continiue with this kinde of messages


for air drop pm me your suicide address (xD)
Coin add won't be to add suicide in exchanges, but to add coins to suicide in the wallet for programmed suicide, you know jesus ? jesus 1 lives, jesus 2 return, jesus 3 suicide it is the same with coins, we will progressively add all the coins who are dead on yobit and other exchanges, and suicide them for SCD, inside suicide wallet.
I will send the wallet's picture once i get to 40% of achieved work, as of now, i am at 25%, she will be released as alpha at 70% for debuging and different issues
Right now i am searching for cartoon images with a cemetry for coins.


Stop chatting with my futur girlfriend !
send me your suicide address, that's all.


Nah, obama aleready killed him in his last spitch ...


Now Welecome to the new suicidees !


This year is mickey mouses's brand year !
Donald trump as US president ...

Declare war to USA, Trump will send a nicely airdrop soon 

I understand waht you saying. I sort of see why he names it suicide coin since most Dev basically commit their project to suicide and either give up or just dump or something equally as stupid. So it is a bit of a joke and a laugh at those Devs. Kind of like a reverse pun, got to love the English language. ^^

I also would like an airdrop how do I get one ? I want to earn some coins.

How do I get an airdrop ? I want one too please.
Must we cpinadd on yobit for the reward or must we do the coinadd within your wallet.
Btw if you come through on thst wallet then you have your ducks in a line and I congratulate.