Topic: Recommended cryptocurrency creation service? (Read 1170 times)

I'm paying the premiums on the initial batch of coins. Miners will pay a percentage of their mining profits as premiums later.

I really want to do away with the volatility that keeps merchants away from crypto. Even merchants that accept bitcoin, immediately convert to fiat using a service like Conbase. Since the various cryptos are freely convertible without KYC/AML limits because it is not "money" (as defined by legal tender status), it won't take the place of bitcoin, but augment it as part of the ecosystem. Bitcoin may even copy me and put my coin out of business, which is also good for me because I'm holding bitcoin and hedging my bets.

So, 3 things that make this coin unique;
1. no volatility due to features in the code itself. The value of the coin goes up predictably in value, slowly, no peaks and crashes. the wallet will have a decentralized crypto exchange built in. this wallet will have features that will make the price less volatile. no danger of getting Goxed because it is a decentralized wallet that has a crypto exchange built in.
2. privacy and easy/fast to use, just like Monero. you don't have to wait for coins to get "mixed" like Dash, dark wallet, or DNM mixers.
3. value is insured from pump, dump, and abandonment. Even Bitcoin is in danger of this as none of the miners' profits are diverted to the devs. Devs are important! They should get paid. Even if I, the creator, abandon the project, I will not be "dumping" the coin because the dev is not me, but the devs will be perpetually paid by a portion of the miners' profits. There will be people lining up to be devs once the coins starts rolling. I just need to pay to get the first dev to create the coin to get it rolling.
4. I am trying to decide if there will be a premine or not. If I decide there will be a premine, it will be totally transparent. No sneaky premines. I will let all know exactly what is the premine and you can decide whether or not it is acceptable before you start in the project. No sneaky premines. Or I might not do a premine at all. I just need to run some numbers to see if I'll lose money in the whole deal if there is no premine. If I can make enough to recoup my initial investment as a regular miner just like you, then I'll forego the premine.

P.S. I already have lots of people asking me if they could underwrite the insurance policies. The problem is finding talented devs. I've contacted the shitcoin devs on this forum but got no replies because they are NOT real devs who can code a new coin or even change the code on an existing coin. They just clone shitcoins by brainlessly hitting the copy and paste buttons. I know this because nobody has PM'ed me back. C' mon. where are the real devs? I need someone who can alter and add to the code on the Monero coin, not just a shitcoin cloner.

I know that your intentions are are probably good, but if the only thing that this coin will offer is an insurance policy that nobody will underwrite (and believe me. Nobody will underwrite it), it doesn't have a chance. Even if a miracle does occur and you do find an underwriter, who will pay the premiums?

"As a hypothetical oversimplified example "
I am not proposing a 1 BTC per year insurance for 5 BTC loss. This is just a hypothetical example. The going rate of insurance will be determined by the free market.

When the real estate bubble burst, AIG had to be bailed out because they were insuring banks against loss from all the sub-prime mortgages. Sub-prime mortgages are by far a lot less risky than altcoins. I think your rate of 1 BTC per 5 BTC is incredibly low. The proper rate would be more like 4.9 BTC per 5 BTC per year.

Peer to peer insurance using multisig. As a hypothetical oversimplified example only (not how I would actually implement it in code);
1. I pay the insurer 1 BTC per year to insure against a loss of 5 BTC. The insurer knowingly takes on this risk in order to make the 20% annual profit.
2. If it is a "scam", then the insurer will pay the investor 5 BTC.
3. If it is honest, then the insurer will pocket a nice 20% profit.
4. Insurance will be with BTC multisig. Notice how the insurance is not in altcoin, so you are insured against altcoin collapse.

This separates the financial risk of the investment being a "scam" from the equation.

Notice how I also said the insurance will be kinda like the FDIC. You will not be insured against rise and fall of the altcoin's value. You will only be insured against a total collapse of the coin as a result of an irresponsible pump and dump. The FDIC doesn't  insure against loss of value through dollar inflation. It doesn't even insure against loss of all your money. FDIC only insures retirement funds up to $250k and other funds up to $100k. If you have 1 million dollars, and the bank goes kaput, you'll only be able to recover $100 to $250k. I will only insure investors' wallets up to a certain amount for free. If you want more insurance, open several anonymous wallets (so that no wallet is over the insured amount) or pay for additional insurance yourself.

So rarely do I see someone thinking more than one step ahead of the situation.

My point exactly.

In fact, the only services with enough clout to actually guarantee such a policy and not be total scammers is the USA, hence FDIC and global reserve currency and top military and such. Of course other countries as well.

Because someone that's a scammer would just go ahead and claim to have an insurance policy and move forward anyways, knowing full well that's a check that can't be cashed in.

As such, there's money to be made by pumping and dumping it. Unless you think I'm the only one that's gonna call your bluff?

This isn't a summer camp. You're making the claim that you're gonna mint your own currency and tell people to use it, effectively announcing the formation of some new republic with no military, no money, , no capital, but fuck it all you've got insurance.

So unless you've got the backing of all three of those, which you don't, never will, and cannot buy, you're a scammer and I'm on ignore.

Good luck getting that policy underwritten.

I'm ignoring you. I haven't even created the crypto coin yet, and you're already saying, "It's a scam."

Oh, and what part of, "Insured against loss," did you miss?! As in I'm gonna buy INSURANCE to make sure the investors do not lose their money. What dumbass "scammer" would PAY money to buy insurance? Scammers TAKE money, right?!

Ignore button clicked...!

Recommended service?

US of fucken A baby.

Don't you forget it, scammer-to-be.

Yes, use the NXT monetary system and avoid the security issues that come with trying to secure your own blockchain.

user loljosh is doing altcoin creation service , he have good feedbacks, just search the name in members list or check the service section for his thread

I think you will be best of in the altcoin section: https://bitcointalk.org/index.php?board=67.0

Lots of people who create coins there all day long, one is bound to be able to help you depending on the difficulty of the code required.

Hi,

I googled and searched until my face turned blue but only found 1 coin creation service, however, they don't seem to be answering PMs on this forum. Anybody used a cryptocurrency creation service, liked it, and would recommend it?

No, I am not creating another shitcoin. As a matter of fact, the value of this new crypto will be insured against loss. You are guaranteed not to lose your shirt. Kinda like how the FDIC insures depositors against losses of up to a certain amount ($100k?). Yes, it will have an advantage built-in. It will support privacy and will be easy to use like Monero, unlike Bitcoin, which is pseudononymous, not anonymous. Also, the value will not fluctuate. It will have certain mechanisms built in to ensure against volatility of the coin's price so that merchants can PRICE GOODS AND SERVICES IN MY NEW CRYPTO instead of in Fiat and then use a computer program to convert it on the fly to the price in crypto. I think that the biggest block against merchant adoption is the price volatility of crypto. Since this will be a deflationary crypto like Bitcoin and the price volatility is stabilized, the rise in price will be able to be calculated and predicted mathematically so savers can plan more effectively.

Neat, huh? I need to hire devs. Who's up for the task?