Topic: [Pre-ANN] GeoCoin (Read 5767 times)

You do know this has been done already, right?

https://andarazoroflove.org/code/geocoin/

released nearly a year ago. if you don't believe me, go check the github repo for the project.

Bumping this project to let everyone know that unfortunately we're going to have to put it on hold.

After speaking with an industry-leading company regarding securing a partnership for distribution, it appears that "their legal department has advised them against it". Although an exact reason has not been given, we're assuming it has to do with the liability of distributing what would essentially money through their network to targets worldwide. There's also the very large possibility that they didn't understand the project and what would be required for distribution.

Unfortunately without this partnership, distribution as well as industry acceptance is going to be a lot more difficult. I'll admit, I expected this... it was for this reason that I was hoping the industry-leading company would be interested in helping developing the project from the ground up and have them handle everything. Unfortunately, as crypto currency has a negative connotation and I was open with the fact that a paid partnership would be okay if that needed to happen, it appears that they see dollar signs a lot more heavily than I anticipated and they were not willing to work on the project outside of a paid partnership.

I find this disheartening, because this project was for the better of geocaching and nothing else. While this project got me out and geocaching myself, something that I am really enjoying... it has me absolutely fucking hating the geocaching community of Reddit. There's a holier-than-thou attitude that couldn't be matched by Tom Cruise. I was attacked and belittled by these hipsters of hiking on /r/Geocaching so much that at points I started questioning whether I wanted to bother wasting any more time on a project that would do nothing but benefit them. The geocachers I met outside of that shitty community were incredible though; extremely supportive and interested in the project.

In the end, I am disappointed that this project can not get off the ground as is. I'll be working on figuring out an alternative distribution method but for now this project unfortunately has to halt.

Those interested, please feel free to PM me any ideas you have and I would be happy to discuss them with you.


Thanks everyone for your time and interest, I really hope we can make this work at some point.

trust me we thought it over you can't as of right now come up to any solution to this, we thought about preventing long distances or time or something like that, problem is they can all be faked. thing is you're just going to have a server - client and the client will send the data over let's say rpc protocol, what's to prevent me from sending simulated data from my computer after analizing what my phone client sends.
also the word centralized goes against everything cryptocurrency stands for so any concept based on that is doomed to fail.

op, the discussion was on irc and it wasn't your exact concept it was something more elaborate and on a larger scale, if you want to talk join ##myriadcoin on freenode or just pm me here and I'll tell you all about it.

//edit: tomorrow, because it's 6 am and I'm heading to bed

If you have a centralized database of user information, you could implement a number of constraints on faucet payouts to solve these problems.

For example, a simple heuristic would be to limit movement to prevent cheating.

In the world of programming there are few things that are not possible.

Sorry to rain on your parade dude but we've had this concept in mind about a month ago for Myriad problem is, gps coordinates are fakeable so you're just gonna have a bunch of faggots draining your faucets via fake gps coordinate apps.