Expanding upon Vlad2Vlad's idea. | Bitcointalksearch.org

Phinnaeus Gage

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Bitcoin: An Idea Worth Spending

Quote from: cryto4rig on July 02, 2013, 12:08:57 AM

We hear this all the time here, just put in a different way, I understand where you are coming from, but endless coins are going to keep flowing out and dying. No one has been that innovative yet, it almost seems like its only the name that will get the coin through now a days. So... they will keep making them, your 100% right about one thing, all these alts are NOVELTY'S.

Hence the rub. The guys creating their own novelty alt coin are trying to pawn off their new creations. What I propose is different. Allow those who desire an alt coin to come to them to provide the minting and maintaining the blockchain that comes with it.

Or how about a kickstarter type site where a limited number of alt coins are mined for each and every entity looking for funding, whereupon those seeking funding don't pay any fees?

For example:

Acme Widgets and Acme Quartet are seeking $10K in funding for their respective projects. WidgetCoin and QuartetCoin are mined by the miners, whether solo or in pools. The miners keep 20% and the fund seekers get 80% (or however the math would work all best for all parties involved). It's those 80%(?) of coins that are sold for the raising of the $10K and/or beyond.

The ones now holding the WidgetCoins or QuartetCoins are able to exchange them or sell them for bitcoins only. The alt coins created should have a set hard bottom price point.

I know I'm missing something in the above equations, but there's nothing in the above that can't be overcome.

cryto4rig

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We hear this all the time here, just put in a different way, I understand where you are coming from, but endless coins are going to keep flowing out and dying. No one has been that innovative yet, it almost seems like its only the name that will get the coin through now a days. So... they will keep making them, your 100% right about one thing, all these alts are NOVELTY'S.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: Vlad2Vlad on June 27, 2013, 09:15:51 PM

Question for those who believe this Alt coin thing isn't a fad but will be a revolution:

I truly believe this will be bigger than the Internet. It will change everything from top to bottom and in every country in the world.

But in the short to mid term run, before they choose 1 single digital currency for the whole globe, or best case, a few of them, there will be a craze just like with the Internet era where everyone with an idea for a website (coin) and a few bucks will try their luck at a coin since any popular coin can literally turn a near ZERO investment into millions or for a few lucky coins even billions of dollars.

What's happening here is a limited time offer (condoned by all governments AND banks) to print your own money. This has never happened and this cannot and will not last! There is an end goal in this for the big corps, the banks and the government which is why they're letting it ride.....for a few years, at most.

There has never been anything like this where you can literally make billions, legally, for selling no more than an idea or a concept, as there is no real or intrinsic value behind a coin such as Bitcoin, although devcoin is trying to build such real value, the rest are not and it's not required as bitcoin, namecoin and Litecoin have already proven.

That said, I'm shocked to see all the coins coming out have no real built-in user-base - not a single one is trying to build on or attract an already existing massive base as that's the best way to make a coin really valuable nearly overnight. Like who wouldn't buy a SopranoCoin or a JohnGottiCoin, at least those loyal to mafia games, movies, etc. that new coin would at least have a novelty value where these new coins have NOTHING, yet they're still worth something which is the amazing thing - imagine if one executed a new coin properly.

For example an NFL coin. Such a Coin would be an instant hit as a certain % if NFL fans would buy into it. Add some perks to the coin and some generosity and you've got a huge hit. There's no real cost to make these coins so you can afford to be be generous and be creative.

Now of course we can't use the NFL since they have a copyright but you get the idea. For example the name Tesla is public domain so tesla motors cannot sue for the domain. Or MormonCoin, Mormon is an idea, a religion, it's too old for anyone to sue for the name itself. And I actually bought TeslaCoin.com, and MormonCoin.com, along with over 100 other coin domains.

Think about the pre-installed and loyal user base which comes with any one of those names. It would dwarf the awareness and loyalty level of even Bitcoin.

My point is - that if you build a coin with an already installed massive consumer base and instant household name recognition, you're likely to have a huge hit just as long as you stay true to that user-base and don't try to just pump and dump. You can make it a true win-win coin and make lots of money while providing a real service.

So forget about all these silly feathercoin, freicoin, And the rest - how can they expect to become known to everyone when they're starting from zero? And why start from zero when there's plenty of household names you can legally use and are available in the public domain?

This will be the next phase of this revolution as people with a namebrand will try to capitalize on it and it will be even a person's name like RockyCoin, JamesDeanCoin, etc, and all we have to do is be one of the first in this new trend cause once everyone does it you will be buried in an avalanche of obscurity amongst hundreds if not thousands of crypto coins.

If anyone is interested let me know. Unfortunately I'm full of ideas and have some (coin) domain names but I lack the cash and programming skills.

This is a once in a lifetime opportunity, if you see it and have something to offer don't hesitate. Act now! Even if it's by yourself or in your own group!

Good luck!

Vlad, you have some strong ideas here, albeit I believe amassing alt. coin domains is the wrong route.

Your BrandCoin idea is sound, for people would connect with niche markets, going as far as obtaining a few coins to add to their collection for their love, and thus get alcamated to Bitcoin in a shorter time span.

Let's look at it this way. You're familiar with those commemorative coin outfits that product the designs that their clients envision. They care less of owning any domain names of the latest fad/star. Their only job is to produce the coins that their clients desire, hoping to obtain more market share then their closest competition.

Here's were the alt coin miners come in. They already have the hardware and software in place to produce any coin that comes their way. They're more apt to be makers than shakers, lacking marketing skills. They're in it for the money, regardless of where the money comes from. And they're happy to be doing what they're doing.

What if?

What if an entity acted as the liaison between those who want limited edition alt coins and those capable of producing them on timely and regular basis?

What if there was an exchange for only all the novelty alt coins, all of which can be converted to bitcoins only? It'll be up to those who cashed out their bitcoins to convert to their local currencies if they opt to not spend them directly.

Some coins produced may be short lived, while others will remain viable for years. It won't matter, for they all will have some value at the onset. It'll be up to those who order the coins to do their marketing magic for whatever intent they have in mind with their coins.

The hardest part of this endeavor would be the marketing to get this idea out to the public. Once out, they'll figure out how to make it work.

Allow me to give an example.

Some small charitable organizations resort to selling chocolate bars to raise money for their cause, keeping 50% of the sale. World's Famous Chocolate comes to mind.

What if their was a St. Bob Coin, e.g., sold at twice its value? The purchaser is happy to be able to contribute $100 to the cause, retaining $50 in value of which he just throw away, save, or invest in some other coin of his liking. In fact, he may trade it dollar-for-dollar for a St. Alice Coin, thus indirectly/directly increasing both values thanks to the principle of the velocity of money.

I could expand upon this idea further, but I'll stop right here to see if more discussion on my part is warranted.

Topic: Expanding upon Vlad2Vlad's idea. (Read 1474 times)