Topic: Get ready to experience the first-ever mineable relatively-stable value coin (Read 502 times)

Hence, to avoid such problems, we must need to go for distributed-reserves and with no central authority.

This way, for your 50BTCs, we mint some coins and give to you and then you may stake them further. When more people focus on staking, the dumping of this coin will not happen. Also, we have arranged few liquidity providers who will keep bumping this coins for their own benefits (like they they keep buying if this coin falls below 99 cents and may sell if prices reach $1.01).

Hope I have answered your question and please let us know if you still have any questions. Moreover we must thank you for asking such a good question. We look for such more questions so that this community will get more clear idea about this project.

How can you sell a token backed by MY bitcoins to someone else?

3. In other words, it is all about decentralized (non-corporate) stablecoin hence the reserves for this coin is need to be decentralized. Hence, bitcoins on our addresses are assumed to be the actual reserve for this r-stablecoins and all the bitcoin holders deserve the right to mint their propositioned share on total supply (which is not practically possible hence we mint and do distribute (by one of either methods as described above)).

Most ideas only ended up as mere ideas. So I don't think what the OP is laying out here will be realized.
And if it is a community-based project, I don't think this will gonna push thru.
Getting long-term interest of the community is very hard. And if you will not see actual movement, I guess this one will be forgotten.
So once the OP decided to go for real on this project, just let us know. Start by purchasing your own domain name for this project.

This is like saying "let's send people to Mars". You could spend hours describing the benefits of doing that, but your dreams will be crushed by all the difficulties of actually implementing it. Stability and decentralization don't work together, because any stability is achieved through a single actor acting as a stabilizer. Besides, if your system uses a centralized asset like fiat currency as its collateral, it will always be an inherent risk itself - fiat currencies can crash, or the government can block this decentralized system from accessing its centralized systems.

Update : 10 sept 2020

After lots of concern (from this community) on mechanism on maintaining stable value, decided to launch a relatively-stablecoin (r-stablecoin) which will be under progress which are meant for making it achieving the level of stablecoin over the years.

As of now, it is all about having a community based, mineable relatively-stablecoin with few criteria and assumptions[1].

A coin may have any value (like bitcoin or any other cryptocurrencies) but for the reason of simple-to-use, we assume to have one unit of this coin to have one USD value. (It may fluctuate based on supply and demand on open markets but when more people adopt and use it, it will trade around exact $1 always which is the state we may assume it has achieved the level of stablecoin until then it will remain as r-stablecoin).

There are 2 finalized methods to start (only one will be implemented):

1. A POS coin with 6% staking rewards per annum and the initial distribution will be like clamcoin.

2. A POS coin with 6% staking rewards per annum and with premine to distribute to this forum members based on their ranks and to all BTC holders by verifying them by signing a message (which will be like byteball coin).

Method-1 is fully fair distribution but makes lots of coins locked forever as whales may not prefer to claim a $10 with their private key.

Method-2 is the usual practice of all POS coins. Devs can have shares and can reserve funds for future developments (like listing on exchanges).

[1]Criteria and assumptions for the need of this project:
1. The need of problem free non-corporate stablecoin is time proven. So far, crypto space does not have any non-corporate stablecoin.

2. This coin will not be like other usual stablecoins which are based on unverifiable reserve based. To solve the problem of improper reserves for a stablecoin (and even almost all countries fiat's reserves are improper as per many economists), we need to REMOVE the centralized reserve and from this point, the concept of having decentralized reserve based stablecoin is originated. So, we are going to assume to have bitcoin on blockchain as reserve for this coins. Hence all bitcoin holders can mint/ can have initial share of this coin's total supply and will mint new coins through staking (POS).

3. In other words, it is all about decentralized (non-corporate) stablecoin hence the reserves for this coin is need to be decentralized. Hence, bitcoins on our addresses are assumed to be the actual reserve for this r-stablecoins and all the bitcoin holders deserve the right to mint their propositioned share on total supply (which is not practically possible hence we mint and do distribute (by one of either methods as described above)).

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I have been thinking about non-corporate stablecoin for years. Due to some reasons, I am still hesitating to go for it.

The need of stablecoin is already proven. But, we are having so far only centralized stablecoins.

I am proposing here about mineable-community based-fully decentralized stablecoin with zero pre-mine.

(As, this would be a non-profitable project from dev's perspective (but this crypto community may start using a stablecoin without any hesitation), I cannot afford to pay exchanges for listing. But, if a coin is preferred by this community then exchanges may go for auto-listing.)

Development and launch of such a stablecoin should be community driven.

Let's us discuss.

So, you are going to air-drop some of your coins?

It means you do not need to rush to sell your rewards but you may get chances to get continuous passive income through POS in relatively-stablecoins which is not a thing this crypto space has ever experienced.

your rewards may value $100 today and may value $98 tomorrow but through POS, you may get chances to make your $100 into $150 or $200 as it is all about a relatively-stablecoins and NOT about other usual highly fluctuating coin.

Don't worry, theymos has already guided on how on bringing stability and decentralization together:

Isn't Dai already a decentralized stablecoin? Or have i completely misunderstood it? I don't yet quite understand how makerdao / crypto-collateralized systems works but i think Dai is decentralized.

We all know that we only use such coin as a temporary safe haven for our assets when trading and since most of us already got used to Tether then I think a new one will only got small to no attention at all . Thus, will end up as a failure.

Not because there is no organization sponsoring them. Even today's stable currencies need a fund in the back. I thought it would be very difficult to make such a currency, I wonder how it works.

This is like saying "let's send people to Mars". You could spend hours describing the benefits of doing that, but your dreams will be crushed by all the difficulties of actually implementing it. Stability and decentralization don't work together, because any stability is achieved through a single actor acting as a stabilizer. Besides, if your system uses a centralized asset like fiat currency as its collateral, it will always be an inherent risk itself - fiat currencies can crash, or the government can block this decentralized system from accessing its centralized systems.

This is totally unrelated to this particular token, which I don't know anything about and only spent 30 seconds skimming, but you could do a stablecoin in a mostly-decentralized way like this:
 - Call the stablecoin "SSCN". There's also another token which is part of the same system called "SBND".
 - When the price is below $1, the system automatically creates x SBND tokens and sells them for SSCN tokens in an automatic auction process. This destroys SSCN coins, reducing the supply and therefore increasing the price.
 - When the price is above $1, the system automatically buys y SBND tokens in return for SSCN tokens in an automatic auction process. This creates SSCN coins, increasing the supply and therefore reducing the price.

(Speculators would buy SBND tokens if they think that SSCN is going to become more popular, and sell them if they think that SSCN is going to become less popular.)

A decentralized system cannot know anything about prices, so some centralized entity needs to provide SSCN's price to the system as an input. This is an unavoidable point of centralization. But everything else, such as determining x and y above and conducting the auctions, could be done automatically.