Topic: Centralcoin Concept (Read 437 times)
I think you should better collaborate with Globe (GLB) project. Seems to be very same trend.
Demand is created by marketing and bringing on-board those who have gained respect in the cryptocommunity. By gathering some names that are recognized and respected to be on the board, the demand will be almost instant, especially for the whales who have the issue of having a hard time converting crypto to dollars with rapidity.
ok so you got an elaborated complicated plan to control the supply side of your coin, but it seems to me you totally forgot about the demand side of the coin.
Theretically you could have a coin with a supply of 1 hitting the market every day, so that would be perfect stability on the supply side But does that bring price stability of the coin ?
NO, because there is no way you can control the demand for the coin. As demand can fluctuate wildly, so can the value of your coin
Theretically you could have a coin with a supply of 1 hitting the market every day, so that would be perfect stability on the supply side But does that bring price stability of the coin ?
NO, because there is no way you can control the demand for the coin. As demand can fluctuate wildly, so can the value of your coin
First off, I am no DEV, just an out-of-the-box thinker that wants a currency that is stable enough to hold that will be indexed off the USD adjusted for true inflation, so here is my concept.
The first centralized decentralized currency made specifically for price stability:
a 3 phase coin that will be exchangeable for a set price in fiat with good marketing before going live, using customized jalapenos from butterflylabs.
The miners will be constructed to automatically begin mining to one of 5 pools, and leased out to people who are paid per month/week for their power usage. The jalapenos will be constructed inside a larger box with an on-board computer and OS and runs a check-program to make sure that once it is plugged in, it has not been unplugged, upon loss of power, a lithium battery will run a program will shred all information on-board and overclock itself so as to act as an autodestruct upon reboot. Backup battery power will be required for anyone signing a lease and will be paid in fiat from the company that controls the pricing. If failure happens, the miners will be paid a set amount of fiat for return of the miner.
100 units to be shipped out world-wide with 20 units held in reserve in case of failure. The pools will be controlled by 5 different people who will get the transaction fees in crypto.
1 central web-site with darkweb backup will announce the exchange rate in 7 day time-periods and will exchange the currency for fiat.
a open reserve of crypto will be kept on-hand if/when other exchanges start to carry it, in order to keep the price within the upper and lower limits of the projected exchange price.
Theoretically, the upper limits are easily enforceable by flooding markets with the coins on reserve, whereas the lower limits are not enforceable. So, in the event of a lower limit breach, the units will hard-fork and the next iteration will start mining and the central exchange will offer a 1-1 exchange (if that is cryptographically needed) for the old currency to the new currency. Also, if a fork is created, all 5 pools must agree to the fork within a certain time frame or the held crypto is digitally shredded by sending out coins to bad addresses, then the old currency in private hands will be exchanged 1-1 for the new iteration.
The exchange must be based in a country that will allow the exchange of cash for crypto, and pay local taxes. There will be a secondary and trinary backup for the exchanges with different physical locations if there is a regime change or law change in the home country. In that case, the payments will come and go from the seconday or trinary base of operations, while a stable base is again established.
In this way, a person would have the ability to hold large amounts of crypto in reserve just like cash or gold without fear of the massive swings that cryptos have. Also, speculators will not have a large upside advantage, so it will be used as intended.
In case of server shutdown of regular website, the darkweb will point to the new site. Only Devs and those who are holding the coin will have access to the darkweb
Downside: The currency will have an extremely large start-up cost. Trust in the people who decide the exchange rate must be established. Those who are on the board to decide must select alternates to themselves that will initiate if they miss 2 votes in a row (in case governments or banks want to play hardball)
Upside: Finally a currency that holds it's value, does not fluctuate wildly, but does not have the downside risk to fiat. Also, since the reserves will be centralized by those who have it in their best interest to hold to the stated value (which will increase the trust in the community and therefore will pay themselves more by increasing volume) it will self-govern.
So, to be clear you have a board who will lose anonymity (for their safety) and a collection of pool moderators, and an exchange that will receive and send fiat. All those involved will be encouraged to pay their taxes on the crypto so that friends are made in the governments in which they circulate. Crypto should not encourage enmity from the state, only from bankers, who we will be putting out of business.
So, comments? Questions? Improvements?
The first centralized decentralized currency made specifically for price stability:
a 3 phase coin that will be exchangeable for a set price in fiat with good marketing before going live, using customized jalapenos from butterflylabs.
The miners will be constructed to automatically begin mining to one of 5 pools, and leased out to people who are paid per month/week for their power usage. The jalapenos will be constructed inside a larger box with an on-board computer and OS and runs a check-program to make sure that once it is plugged in, it has not been unplugged, upon loss of power, a lithium battery will run a program will shred all information on-board and overclock itself so as to act as an autodestruct upon reboot. Backup battery power will be required for anyone signing a lease and will be paid in fiat from the company that controls the pricing. If failure happens, the miners will be paid a set amount of fiat for return of the miner.
100 units to be shipped out world-wide with 20 units held in reserve in case of failure. The pools will be controlled by 5 different people who will get the transaction fees in crypto.
1 central web-site with darkweb backup will announce the exchange rate in 7 day time-periods and will exchange the currency for fiat.
a open reserve of crypto will be kept on-hand if/when other exchanges start to carry it, in order to keep the price within the upper and lower limits of the projected exchange price.
Theoretically, the upper limits are easily enforceable by flooding markets with the coins on reserve, whereas the lower limits are not enforceable. So, in the event of a lower limit breach, the units will hard-fork and the next iteration will start mining and the central exchange will offer a 1-1 exchange (if that is cryptographically needed) for the old currency to the new currency. Also, if a fork is created, all 5 pools must agree to the fork within a certain time frame or the held crypto is digitally shredded by sending out coins to bad addresses, then the old currency in private hands will be exchanged 1-1 for the new iteration.
The exchange must be based in a country that will allow the exchange of cash for crypto, and pay local taxes. There will be a secondary and trinary backup for the exchanges with different physical locations if there is a regime change or law change in the home country. In that case, the payments will come and go from the seconday or trinary base of operations, while a stable base is again established.
In this way, a person would have the ability to hold large amounts of crypto in reserve just like cash or gold without fear of the massive swings that cryptos have. Also, speculators will not have a large upside advantage, so it will be used as intended.
In case of server shutdown of regular website, the darkweb will point to the new site. Only Devs and those who are holding the coin will have access to the darkweb
Downside: The currency will have an extremely large start-up cost. Trust in the people who decide the exchange rate must be established. Those who are on the board to decide must select alternates to themselves that will initiate if they miss 2 votes in a row (in case governments or banks want to play hardball)
Upside: Finally a currency that holds it's value, does not fluctuate wildly, but does not have the downside risk to fiat. Also, since the reserves will be centralized by those who have it in their best interest to hold to the stated value (which will increase the trust in the community and therefore will pay themselves more by increasing volume) it will self-govern.
So, to be clear you have a board who will lose anonymity (for their safety) and a collection of pool moderators, and an exchange that will receive and send fiat. All those involved will be encouraged to pay their taxes on the crypto so that friends are made in the governments in which they circulate. Crypto should not encourage enmity from the state, only from bankers, who we will be putting out of business.
So, comments? Questions? Improvements?
Jump to: