Topic: How to implement Aurora Coin better- Proposal for American Coin (Read 848 times)

bad idea. American does not save, they will dump every coin after they get the mail.

nationalism is a dangerous road

I'd buy it. But no POS. use x11 algo from darkcoin.

It's just an idea.. I'm not saying I'm going to do it or not. As I have stated I don't know if this would be legal to do, but I just wanted to discuss the possibilities of doing it and how to best go about it.

My criticism is a bit more vast than nitpicking on a word of your post, heh... 

Just be careful with this kind of experimentalism. Good luck.

I edited that to "semi-forcing." No one will have to participate if they don't want to. They can simply throw the mail in the trash or sell it. And no I don't see a moral issue with this, maybe you can elaborate?

The only issues I can see is:
- legalities of issuing a cryptocoin to the USA. I don't want it to be perceived by the government that we are trying to uproot the US dollar.
- costs of doing the mailing- printing, materials, postage, workers to assemble mail...  
- it is possible to opt-out of this type of mail, so some people may be blocked from participating.
- people that have several homes or PO boxes etc. will receive more coins than someone with only a home address. Furthermore households of more than one person will have to split the coins compared to someone that lives alone will get to keep 100%.

I admit this idea can be improved upon, any suggestions are welcome.

You don't see a problem with this?

I think this will help Bitcoin by semi-forcing cryptocoin adoption on all households in the USA.

I like the idea of Aurora coin but I feel like it was implemented poorly and could be done better. The hard part is how the coins are disbursed throughout an entire nation equally and efficiently. I propose a PoS/PoW SHA256 coin that is distributed by US mail named "American Coin" (or whatever). If you have a mailbox in the USA, then you likely receive many advertisements every week. We can utilize this method of using US mail to distribute the coins. This is the most fair way I can think of to distribute the pre-mined coins to a whole country.

- Doing a mass mail to the entire United States will cost a lot of money. There will need to be an IPO to cover the costs. Research should be done to see how much it will cost before the IPO so that you could set a target for the IPO. Once it is limit is met, then the coin will start the 6 month preparation period to get everything organized for the mass mailing.
- There should be 6 months of preparation for hype/news/planning of the coin. That way people are expecting the coins in the mail and don't discard it as trash... although some people will anyways, the more news coverage we can get on it as possible the better.
- Unlike Aurora Coin, the client and software will not be released until the day before coins are ready to be distributed by mail so that mining and mass mailing starts at the same time.
- It would be good to include a DVD that someone could pop in their computer to easily install the client and get up and running. Full instructions will be necessary for the non-computer people. Having the software so easily available might spark a Renaissance of sorts regarding cryptocoins in the USA. Do you guys remember how AOL used to be the most popular dial up company? They got started by releasing free software that was easily accessible to everyone and really kick started the internet as we know it today. The costs of DVDs and instruction manual will need to be accounted for in the IPO goal.
- Determine (as a community) a fair ratio of how many coins the IPO gets and how many each household in the USA will receive.
- Develop a new way to distribute the premine coins to all IPO investors and Americans. I propose releasing the premine slowly over time instead of all at once like Aurora coin. This will provide more stability in the market at the coin's launch because people won't be able to dump as much- I propose releasing a certain percentage of the premine every X amount of blocks.
- Determine if this idea is even legal to do in the USA... perhaps by using buzzwords such as "this is not legal tender". Maybe someone with legal expertise can give their opinion?

Any ideas, suggestions, or comments?