wait a sec... is this like Ripple for Abstract Coin?
Topic: Antimatter Official Development and Release - page 5. (Read 3929 times)
A currency backed by other currencies.
If say i had 0.1 antimatter coin, at that moment it is worth only 0.1 antimatter coin...but if i stake 1 SXC to it, then every 0.1 antimatter coin is backed by 0.1 SXC. If someone else stakes 1 PNC each 0.1 unit is backed by 0.1 SXC and 0.1 PNC.
Keeping track of the transactions has been a hurdle for abstract coin, i intend to make a client that will handle that issue.
The huge premine will produce the coin that will be distributed via buy-ins using the non-traded coins. The buy-in method implemented, in essence is merging all the non traded coins into one super-coin that has the backing of people who have previously been backing these coins and have been holding them with no sign of exchange. The beginning is very energy efficient since people wont have to divert their hardware to mining it, all you have to do is buy in using your non traded coins. A lot of hash power was used on a lot of non traded coins and this is a method of cashing in on those efforts.
As a result the alts shore up this "idea" coin and as the coin gains popularity your buy in converts into something actually tradable, there by you get returns (finally) on the effort put into mining these non traded alt. I am sure noone wants to be left holding the bag of the non traded alts. By limiting growth of the coin via mining during the first few thousand blocks, we encourage energy and effort saving but making it lucrative to just buy in using your Hazard coins rather than diverting your miners again from profit making.The stakes push the price of each unit up as interest builds. It's an unorthodox merge but it allows us to clean up the forum of the windfall of alts that were released by attaching their value to a single currency. And as the volume of stakes rises, this "coin" may end up being of competitive value due to it's being backed by cumulative derived values of alt coins. This is a project that will (just like Noirbits) be community oriented.
This idea came to us on cryptsy and google chat while we were trying to figure out a way to combine all the alts and solve the issues faced by the community.The unifying idea was born and has been developed and fine tuned. I'd like to make a public apology to r3wt
his feedback was ignored but has proven to have insight.
Non-Tradable currencies accepted as buy-ins (we will update as we do our homework on more of them)
SifCoin
CureCoin
XenCoin
WeedCoin
VaginaCoin
FlashCoin
PornCoin
FlorinCoin
AnoCoin
MegaCoin
SuperCoin
ExCoin
ZenithCoin
OneCoin
InfiniteCoin
SkyCoin
SexCoin
DragonCoin
Emerald
USCoin
RealCoin
OneLadtCoin
QuantamCoin
FireCoin2
PowerCoin
SunriseCoin
IceCoin
GameCoin
LiquidCoin
SolidCoin
RuCoin
RedCoin
CosmosCoin
ValueCoin
6Coin
If a coin has been added erroneously please advise. If i missed one, the same applies.
The buy-in period is also limited until the date we hit an exchange from then on people will trade and mine.
The client will be available at launch for authentic method to store your buy in.
If say i had 0.1 antimatter coin, at that moment it is worth only 0.1 antimatter coin...but if i stake 1 SXC to it, then every 0.1 antimatter coin is backed by 0.1 SXC. If someone else stakes 1 PNC each 0.1 unit is backed by 0.1 SXC and 0.1 PNC.
Keeping track of the transactions has been a hurdle for abstract coin, i intend to make a client that will handle that issue.
The huge premine will produce the coin that will be distributed via buy-ins using the non-traded coins. The buy-in method implemented, in essence is merging all the non traded coins into one super-coin that has the backing of people who have previously been backing these coins and have been holding them with no sign of exchange. The beginning is very energy efficient since people wont have to divert their hardware to mining it, all you have to do is buy in using your non traded coins. A lot of hash power was used on a lot of non traded coins and this is a method of cashing in on those efforts.
As a result the alts shore up this "idea" coin and as the coin gains popularity your buy in converts into something actually tradable, there by you get returns (finally) on the effort put into mining these non traded alt. I am sure noone wants to be left holding the bag of the non traded alts. By limiting growth of the coin via mining during the first few thousand blocks, we encourage energy and effort saving but making it lucrative to just buy in using your Hazard coins rather than diverting your miners again from profit making.The stakes push the price of each unit up as interest builds. It's an unorthodox merge but it allows us to clean up the forum of the windfall of alts that were released by attaching their value to a single currency. And as the volume of stakes rises, this "coin" may end up being of competitive value due to it's being backed by cumulative derived values of alt coins. This is a project that will (just like Noirbits) be community oriented.
This idea came to us on cryptsy and google chat while we were trying to figure out a way to combine all the alts and solve the issues faced by the community.The unifying idea was born and has been developed and fine tuned. I'd like to make a public apology to r3wt
his feedback was ignored but has proven to have insight. Non-Tradable currencies accepted as buy-ins (we will update as we do our homework on more of them)
SifCoin
CureCoin
XenCoin
WeedCoin
VaginaCoin
FlashCoin
PornCoin
FlorinCoin
AnoCoin
MegaCoin
SuperCoin
ExCoin
ZenithCoin
OneCoin
InfiniteCoin
SkyCoin
SexCoin
DragonCoin
Emerald
USCoin
RealCoin
OneLadtCoin
QuantamCoin
FireCoin2
PowerCoin
SunriseCoin
IceCoin
GameCoin
LiquidCoin
SolidCoin
RuCoin
RedCoin
CosmosCoin
ValueCoin
6Coin
If a coin has been added erroneously please advise. If i missed one, the same applies.
The buy-in period is also limited until the date we hit an exchange from then on people will trade and mine.
The client will be available at launch for authentic method to store your buy in.
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