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Topic: ÇoinProLite (ÇPL): Converting Shitcoins' Sçhit ---> ฿/$/etc. via Proof-of-Burn (Read 16204 times)

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where the fuck am i, and what happened in my life that i ended up here?  wowbobwow.
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vip
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this shit is too much academic! nobody understand it!

I'm currently working on the white paper to present the overall project more coherently, at least that's the plan.

Holy Sçhit! I need eye drops now. God, the colors are burning my eyes. A rhino shitting - seriously? LOL

Okay, what's your deal? Seriously, you're not one of them rhinoshittingphobes, are you?  Grin



Feel better now?  Tongue
legendary
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You lead and I'll watch you walk away.
Holy Sçhit! I need eye drops now. God, the colors are burning my eyes. A rhino shitting - seriously? LOL
legendary
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Bitcoin Legal Tender Countries: 2 of 206
this shit is too much academic! nobody understand it!
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ÇoinProLite
The following, sans the redactions in bold blue font, is what's currently published on the YTC site that it, too, has not been disclosed. Further, safely assume that whenever you see , the redacted term it accompanies has yet to be formally trademark.



YouTubeCoin (actual name redacted) is more than an emblematic altcoin encompassing relatively similar attributes, i.e., as an independent peer-to-peer consensus system; its primary utility functions as an online web-based trading and client portal, affording members free access to a myriad of user-friendly options, thus enabling them to further heighten, perhaps influenced by affinities or trends, any world-renowned or promising YouTube channel creator [L......] by readily trading their now enhanced monetized brand as a crypto-commodity (c-c) [Y...Stock] – in real time – à la a cryptocurrency-backed commodity [yA......], exchanged on a secure, dedicated platform [YTC-...] that's pegged to a unique ticker symbol [T.....], never to be traded below an ICO's per share [y...] price point of at least one U$ ¢ent (1¢), with upwards of 6% of y...s methodically doled out gratuitously to our affiliated YouTube publishers, plus (.)5% via a facet [y......] to their subscribers – as y...s become available – distributed accordingly as gratitude for patronage and loyalty, respectively, sourced from one of the family of domains that's under the auspices of our administrative syndicate [Y....opolis], i.e., [URL redacted], or elsewhere.

~Brüno Kučinskas

ÇoinProLite Takes Your Sçhit - Literally!
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ÇoinProLite
ÇoinProLite paves the way for YouTubeCoin (real name still cloaked, albeit retains the YTC initials), et al., where content creators of highfalutin' YouTube channels have their venerable brands trade YTC c-c (crypto-commodity, depicted as two- to six-character ticker symbols) on a dedicated exchange so that they and their sycophants, among others, could potentially benefit from bellwether trends, and visualizing first-hand - on a continuous basis - how theirs truly fair against peers.

~Brüno Kučinskas

ÇoinProLite Takes Your Sçhit - Literally!
vip
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Also, just a thought... but this thread may be of great interest to you, if you do indeed launch your project (no affiliation):

https://bitcointalksearch.org/topic/ann-crypto-collider-the-worlds-first-bitcoin-gaming-trading-hybrid-802212

This would give your PoB altcoin some serious thrust at the appointed time, perhaps.

Well, that was an interesting read. Thanks, bud. BTW, I guess I'll be the first to provide a link to his site since somehow its owner forgot to add it in the OP: http://cryptocollider.com/.
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AltcoinWarrior.com
Also, just a thought... but this thread may be of great interest to you, if you do indeed launch your project (no affiliation):

https://bitcointalksearch.org/topic/ann-crypto-collider-the-worlds-first-bitcoin-gaming-trading-hybrid-802212

This would give your PoB altcoin some serious thrust at the appointed time, perhaps.
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AltcoinWarrior.com
Yes, aside from copyright yadayada, it definitely fits the scene. Several months back, when i first learned about PoB, I was immediately intrigued; albeit at a loss for how it could be of practical use... that is, until now. Keep up the awesome work!
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ÇoinProLite
At first, I thought I was witnessing Monty Python gone horribly crypto (i.e. the butt trumpets from "Holy Grail")... then this fellow Bitcoiner's epiphany hit me like a bolt of lightning. On the "Watch" list!

Shocked

...

Huh

...

Undecided

...

Cool

Brilliant!


[Edit]
Heralding ÇoinProLite (ÇPL) Monty Python-style:


Holy fuckin' shit! I simply love it! I can easily incorporate that image into the ÇoinProLite mix, of course keeping such at bay when it comes to YTC and YTC c-c.
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AltcoinWarrior.com
At first, I thought I was witnessing Monty Python gone horribly crypto (i.e. the butt trumpets from "Holy Grail")... then this fellow Bitcoiner's epiphany hit me like a bolt of lightning. On the "Watch" list!

Shocked

...

Huh

...

Undecided

...

Cool

Brilliant!


[Edit]
Heralding ÇoinProLite (ÇPL) Monty Python-style:

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ÇoinProLite
If I were to get at least a dozen YouTube creators on board the YTC c-c concept, would you guys be more receptive of the overall endeavor?

I'm positive that after sending a blast of emails, a myriad of creators will reply with some sort of noncommittal approvals, especially after seeing that they'll have nothing to lose via participating provided, of course, their brands are protected.

~Brüno Kučinskas

ÇoinProLite Takes Your Sçhit - Literally!
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Quote
Khan Academy has 65 channels, thus, theoretically, they could enjoy 65 YTC c-c trading on the YTC exchange platform, all having different ticker symbols, with each its c-c shares trading at no less than one US ¢ent per, for their friends, family, subscribers, students, teachers, investors, to name a few, to purchase, in which to show their support, as an investment, or both.

Upon revisiting the above, it occurred to me that Khan Academy's 65 channels have various degrees of success, thus possibly different block awarding schedules predicated on their individual reach could be considered, tweaked in such a way to still make it advantageous for their least subscribed-to channel to enjoy the benefits that a YTC c-c has to offer.

~Brüno Kučinskas

ÇoinProLite Takes Your Sçhit - Literally!
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ÇoinProLite



Salman Khan talk at TED 2011 (from ted.com)

I can't go wrong using Khan Academy's YouTube channel (Ticker Symbol: Khan, KA, KhanA, or KhanAc, dependent upon what they or their subscribers choose) - https://www.youtube.com/user/khanacademy/about - as another example to further illustrate the Sçhit ---> ÇPL ---> YTC ---> YTC c-c ---> BTC$whatever concept.



But, before I embark - again (hit a snag with the example depicted in a previous post above) - let's take a quick look at the stats of Khan (ticker symbol):


Khan Academy has 65 channels, thus, theoretically, they could enjoy 65 YTC c-c trading on the YTC exchange platform, all having different ticker symbols, with each its c-c shares trading at no less than one US ¢ent per, for their friends, family, subscribers, students, teachers, investors, to name a few, to purchase, in which to show their support, as an investment, or both.

Continue to bear in mind that all YTC c-c (crypto-commodity) trade in increments of whole US ¢ents on the YTC c-c exchange (the domain name procured, but not yet disclosed), and not fractional or decimal segmentation of such.

Whether you realized it beforehand or not, there's not a single cryptocurrency, including Bitcoin, that can blast an email to 2,180,208 subscribers, not to mention the various other avenues Khan Academy utilizes, to notify said base whatever, with an accompanied advert(s) to boot. In fact, all the altcoins combined DON'T have that large subscriber base. That's pretty damn strong! Now, multiply that by at least a hundred, and you'll begin to approach how powerful the Sçhit ---> ÇPL ---> YTC ---> YTC c-c ---> BTC$whatever concept truly is, all the while you and/or devs are tinkering with the next singular shitcoin that may or may not be fruitful. If the may-not's the end result, that'll just be more fodder eventually converted over to ÇPL by those, once again, who picked an underperforming alt/crypto.

All that said, and at the risk of being higgledy-piggledy (recent #WOTD), allow me to once again walk you through how a Sçhitcoin (not meant derogatorily  Wink) Sçhit metamorphized to ÇPL could be further traded up to YTC c-c using (you're goin' to love this) LeafCoin (LEAF) ---> Khan Academy (Khan), as the examples representing the remonetization of Sçhitcoin Sçhit to something of greater value, along with having the ability to readily exit the platform at various intervals sans needing to jump through hoops like a trained show dog performing for the promise of treats.  

Hoping that all the zeros fit the screen, LeafCoin currently trades at 2.513e-09 BTC or ~$.000001 each. Thus, it'll take 10,000 LEAF to be worth $.01 (1 US ¢ent). LeafCoin has a market cap of 39 BTC (~$17,890.86) with an available supply of 15,322,977,853 LEAF. Awesome!  Shocked "Circle the LEAF wagon next to the privy cart, boys! We don't want them pesky Indians gettin' their red paws on our precious."

As outlined earlier, only 1% of any given Sçhitcoin's Sçhit's market cap can be queued, then converted, to ÇPL during any 30-day time frame, with some undetermined maximum percentage of that sum able to be transferred per individual (possibly determined by email or wallet addresses, and monitoring IPs to help deter gaming of the system).

For illustrative purposes, we'll consider the entire 1% lump sum, disregarding the number of actors involved. Thus, only the max $178.91 worth of LEAF (or 153,229,779 LEAF, both this and the $ amount rounded up) would be able to metamorphosize to ÇPL within any given 30-day period.

Adding the 36% premium (also outlined earlier), $178.91 becomes $243.32 worth of ÇPL via PoB [-Burn], depicted as 24,332ç when purchasing ÇPL at its lowest possible price point - one US ¢ent/1 US penny/1¢/.

With 24,332ç on account, one may opt to exit the exchange(s) that ÇPL trades on to receive at least $243.32 USD or BTC/?, or... (parlay comes to mind)

The 24,332ç could be used to purchase YTC, then one would have 24,332YTC (YTC symbol pending, albeit this works swelly).

Again, with 24,332YTC on account, one may opt to exit the exchange(s) that YTC trades on to receive at least $243.32 USD (considering YTC's lowest possible price point at one US ¢ent/1 US penny/1¢/) or BTC/?, or... (parlay comes to mind)

As stated above, we're using the YouTube creator's brand Khan Academy, having the c-c ticker symbol Khan, to further illustration the Sçhitcoin Sçhit ---> ÇPL ---> YTC ---> YTC c-c ---> BTC$whatever concept along.

The 24,332YTC could be used to purchase YTC c-c Khan on YTC's c-c exchange, then one would have 24,332 Khan (still worth $243.32, all things considered equal) or, more precisely, 24,332 shares of Khan Academy since we're speaking of a crypto-commodity, not a cryptocurrency.

Once again, the 24,332 Khan would be able to readily exit the YTC c-c exchange in lieu of USD/BTC/?, or...

The 24,332 Khan could readily trade for the myriad YTC c-c, with one having the ability to exit from ANY c-c at will to formidable options available - USD/BTC/? (? = any other money transfer system in place, i.e., other trusted cryptocurrencies).

To be clear, if 24,332ç enters the YTC c-c exchange, regardless what Sçhitcoin Sçhit was burned via PoB, the worse one would exit with is $243.32, maintaining their 36% premium after trading for at least one YTC c-c (more on this aspect forthcoming). The other option would be is keeping the 24,332ç in place to take advantage of the handsome PoS [-Stake] offering.

I duly hope the above more firmly ingrains LEAF ---> YTC ---> YTC c-c's Khan ---> $/BTC/?.

The algo/protocol of YTC has yet to TBD, although its realistic maximum set amount has been formulated. Same true for each YTC c-c, all of which will be of the exact same builds, and definitely minable via low-cost, low-power registered devises, programmable by its users/miners to trade in and out of the myriad c-c depending on parameters suitable to their liking.

As mentioned prior, the IPCO of all c-c will be no less than one US ¢ent/1 US penny/1¢/. I am toying with a two-weeknot TM pre-IPCO trading period available only to YouTube creators having their brands already participating in the YTC program, and to those entering the YTC exchange via ÇPL, thus giving the latter another reason to participate for having previously failed at their attempt to ROI with their formally worthless Sçhitcoin Sçhit.

One will be able to acquire YTC and YTC c-c via as many cryptocurrencies as possible, including Apple Pay, and limited amounts via PayPal and credit cards, for I'm paving the way for at least a million new cryptoers desiring to purchase shares of their favorite YouTube creator's brands.

In closing, while others are building, then hawking their newfangled alt to hopefully best LEAF's $17,890.86 market cap, I'm moving forward building a billion-dollar-plus enterprise.

Questions?

~Brüno Kučinskas

ÇoinProLite Takes Your Sçhit - Literally!
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ÇoinProLite
Let's play "What if?"

What if some production entity decided to produce a documentary on a cryptocurrency/cryptocommodity from its nascent stage to some point past Beta launch? It could be entitled: (not ÇoinProLite, albeit it'd play an integral part in the storyline, with a myriad of real YouTube creators playing real-life roles representing their respective YTC c-c, including Nana [don't laugh, for I'm serious]): The Birth of Cryptocommodities.

That would surely give boost to at least a few of the formidable c-c that'll be in the wild prior to the documentary's release, regardless if those benefiting make it past the cutting floor, assuming they were initially interviewed.

My goal is still to speak at http://vidcon.com/ next year predicated, of course, on how far along the Sçhit ---> ÇPL ---> YTC ---> YTC c-c ---> BTC$whatever concept is developed, moreover, embraced.

The above, too, would be included in the doc, at least key talking points. The producer and film crew would have total access during 's creation process. Since I'm located outside Chicago, there, or a western burb, would be most suitable to set up a presentable office to house the required devs residing nearby (others shown remotely via Skype, et al.), and having enough room to accommodate the filming crew, unless various cameras are mounted, recording our every move - with sound, of course - to be edited remotely on a ongoing basis, extracting fodder for the best production possible.

What if? If nothing else, ÇoinProLite, et al., would show more transparency than any other alt that's come before and, possibly, after it.

~Brüno Kučinskas

ÇoinProLite Takes Your Sçhit - Literally!
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This is a shit itself  Grin

Assuming you meant, "This is the shit!", thanks, bud.

adonai just published the first article on ÇoinProLite: http://forklog.com/coinprolite-proof-of-burn/. It's pretty well written, with only one error I found that I can't contribute to the translation process, unless I'm mistaken. yellow highlighted text after quoting the translated copy>

Quote
ÇOINPROLITE - THE LAW OF CONSERVATION OF COINS

Altkoynov abundance leads to the appearance of new projects - as a very serious and very funny. ÇoinProLite developers propose to use to create new coin mechanism of proof-of-burn, and, of course, they are not the first who suggested it. Coin itself was rather fancifully presented at the forum bitcointalk.


Quote
Proof-of-burn - a method for the initial coinage kriptovalyuty one through the other. The idea is that the miners have to prove that they are "burned" a few coins - that is, sent them to the address being checked. It's quite costly to the individual point of view miner, but does not consume any resources other than being destroyed base.

With the help of a rather frivolous vocabulary created ÇoinProLite notes that altkoyn community can reduce or eliminate the coins that are no longer used, and many so-called "portfolio holders" can insure themselves against additional risks due ÇoinProLite. From a commercial point of view, this method can only be checked by experiment. For this reason, resource coindesk.com appropriated coin status of the most strange altkoyna week.

ÇoinProLite has a margin of about 2.6 billion coins, but their final amount may vary depending on the destroyed during the coins of other altkoynov.
inners coins, according to the developer provided confirmation several systems, including the method and proof-of-stake, with the generation of a small interest rate.

FROM THE OFFICIAL THREAD COINS ON BITCOINTALK

"Yes, this whole story began as a parody of altkoyn and I never planned to purchase a domain name for a coin. So did not plan and sell the project. But the more I thought about CoinProLite, the more I realized that it can monetize it as I have stated, although have a little tweaking its current state.

CoinProLite will deposit high risk crumples. Quasi-production will consist of destruction of obsolete altkoynov in which there are still functioning unit chain so that the appearance of the new coins will be recorded and secured the key to many transactions that will further movement of assets.

I am fully aware that the project is progressing and now is no longer a parody altkoyn and recommend not to get rid of any of your non-existent more alkoynov who still have functional block chain. "

Maybe that will be the next breakthrough CoinProLite world kriptovalyut and allow return pep those code something invested in forever choking forks.

I'm reading it as 2.6 billion will be made available dependent upon the response, of which is not true, but is a fixed number, albeit that fixed number may change by Beta launch. Again, what ever number is eventually agreed upon (BTW, 2.6B works for the calculations I've devised), it'll be fixed and not predicated on participation.

Hope you enjoyed the article, and thanks again to adonai for taking the time to pen such a welcoming copy, wishing his site success as well.

EDIT: Purposely combining posts.



Speaking of lost in translation, I guess adonai gleaned his copy from: http://www.coindesk.com/all-things-alt-anon-reviews-backslash-beta-pink-partnership/

Quote
Strange alt of the week

The plethora of altcoins in existence has given rise to certain projects, both serious and light-hearted, to somehow reduce the considerable supply through redemptive or outright destructive means.

While not the first to suggest using a proof-of-burn mechanism to produce coins in a network, ÇoinProLite is perhaps the most outlandishly presented as demonstrated by its Bitcoin Talk forum post.

Using a commonly attributed (if not decidedly scatalogical) term to denote coins that are of a poor quality, the ÇoinProLite developer says that the altcoin community at-large can help lessen or eliminate coins that are no longer in use, and that many a so-called bagholder can escape their “dire positions” with ÇoinProLite.

For a sales pitch that can only truly be experienced rather than described, ÇoinProLite has won this week’s Strange Alt of the Week award.

ÇoinProLite is expected to have a max supply of roughly 2.6 billion coins, though the final amount could change depending on the number of coins burned in the process. The coin’s “innards and guts”, in the words of its developer, provide multiple proofing systems, including a staking mechanism that generates a small interest rate.

Despite the loquacious style of the developer’s posts, the person behind the project seems to want to create a more inclusive environment for whatever community may emerge.

The developer says:


Quote
“Bear in mind for you guys sitting on the sidelines, there’s plenty of room for maneuverability if there’s some aspects you’ll like to see incorporated that I’ve failed to mention or thought of yet, but suffice to say this’ll be built with your best interest in mind, along with as much transparency as possible, allowing you to even dictate the terms. Simply voice your opinion, whereupon a dialog will ensue to further the cause.”

I desire to address one comment posted on CoinDesk as their response to the above:

Quote
ÇoinProLite actually sounds interesting. Though the reality is it's like a dumpster fire for crappy altcoins that have nowhere to go after their owners pumped and dumped.

Actually, that's not true, for all ÇPL holders WILL be able to liquidate once we're on the exchanges and, moreover, to YTC, another crypto making up part of the family, as well to the myriad YTC c-c (commodity-cryptocurrency). With the 36% premium paid to convert to ÇPL, not counting any PoS premiums amassed, they'll be able to acquire YTC or its leagues of c-c at no less than the price point they purchased ÇPL for - one US ¢ent - regardless of what it's trading for on any exchanges, either using the highest or weighted average. YTC, under the auspices of , will have its own highly-transparent exchange for the various c-c, due to the high-profile clienteles' brands representing their corresponding c-c.

I duly hope the above clears up the misconception expressed by the astute commenter, safely assuming the information he had at the time prior to penning such was limited.

Quote
For a sales pitch that can only truly be experienced rather than described, ÇoinProLite has won this week’s Strange Alt of the Week award.

How kind of CoinDesk to pen such.  Kiss Loquacious style?  Shocked How dare they!  Tongue

Quote
ÇoinProLite is expected to have a max supply of roughly 2.6 billion coins, though the final amount could change depending on the number of coins burned in the process.

As mention in a previous post, the 2.6 billion ÇPL will be a fixed number, albeit that fixed number may change by Beta launch. Again, what ever number is eventually agreed upon (BTW, 2.6B works for the calculations I'd devised at the time), it'll be fixed and not predicated on participation or number of coins burned in the process. Furthermore, that 2.6B figure is in reality an ~2.8B figure, calculated as follows (gleaned from the OP): Maximum ÇPL: 2,825,625,600 (256[ÇPL] x 60[m] x 24[h] x 365[d] x 21[y])

In spite of that one misconception, all in all an enjoyable read, with a nice added touch at its end, hopefully to further the dialog of what this entire endeavor consists of.

~Brüno Kučinskas

ÇoinProLite Takes Your Sçhit - Literally!
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Why You've Never Heard the Name Dillon Taylor

I'm going to use Christopher Greene's YouTube channel, AMTV, - https://www.youtube.com/user/cgreene34/about - as another example to further illustrate the Sçhit ---> ÇPL ---> YTC ---> YTC c-c ---> BTC$whatever concept.

But, before I embark, let's take a quick look at AMTV's stats:




Pause: This sucks: http://www.jmbullion.com/bitcoin-vs-gold-infographic/. Guess I'll need to use a different example. Enjoy AMTV, nonetheless, while I go back on the hunt.

~Brüno Kučinskas

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Click the image above to view the ~1m YouTube video of Hank Green explaining Subbable if you're not yet up to speed.

Envisaged ticker symbols of YTC c-c for YouTube creators depicted on https://subbable.com/creators seeking funding:

Ticker Symbol (notes): YouTube About Page ~ #Subscribers


With the exception of Craft and Bald, each YouTube creator showcased above has a formidable subscriber base. Imagine if each one uploaded a single YouTube video mentioning YTC c-c, causing a comfortable percentage of their supporters to purchase shares of their brand's c-c.

https://subbable.com/about

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Subbable is a subscription service that allows audiences to connect with and fund the creators they love in a sustained, ongoing way.

Prior to Subbable, a person had an option of either subscribing or not to some YouTube channel, with the reward for the former being an email blast from Google informing them that a new video has been uploaded by theirs truly, accompanied with advertisement that Google deemed worthy of their interest (or not), but still got paid for the impression with none of that revenue going to YouTube creators.

With Subbable, one's now able to pay for the same exact privileges outlined above, but receive perks for the exchange, most worth double-digit percentages lower than paid for, akin to how crowdfunding sites operate, thus a lesser proposition if I've done my maths correctly.

In no way am I dissing Subbage, for John and Hank Green has truly provided an admirable service for YouTube creators seeking to augment their scant revenue from Google with their ad program, keeping 45% for themselves. At least with Subbage, only 10% of the funds garnered don't reach the creators, as so stated on their Q&A page: https://subbable.com/faq

At the moment it seems like Subbage is at a standstill: https://subbable.submittable.com/submit/5d872529-e3ff-4724-9888-a3f3c069bdf0

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Subbable has, thus far, launched with an extremely limited group of content creators. This is simply because our system is in the very early stages of existing and we’re not quite sure yet how the world is going to react to it. But we will be adding more creators in the future. If you think you have a project that would benefit from working within our system, please fill out the form below. All fields are required:

According to the Wayback Machine, earlier this year Subbage had 16 of the 24 Subbagers they currently enjoy: http://web.archive.org/web/20140207193113/https://subbable.com/creators

Reads to me like there's still thousands that would embrace a YTC c-c program to enhance their income for creating YouTube videos, one of which having less stringent guidelines to participate than with Subbage.

I'll safely assume that Hank and John Green have the best interest of Subbagers at heart oppose to creating some sort of money grab entity feeding off fellow creators, for I truly don't see such as the case, but I do see a program in need of a fix, being that it's now in park with the hand-brake engaged. Perhaps, the Greens teaming up with YTC c-c could further their cause. If nothing else, Subbage should accept bitcoins alongside Amazon Payments, passing the saved processing fees onto its creators' coffers.

~Brüno Kučinskas

ÇoinProLite Takes Your Sçhit - Literally!
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