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Title: Creating Altcoin for Existing Business Post by: CrimsonGT on July 03, 2016, 03:55:39 PM I am the manager of operations at a hosting company, where we have accepted Bitcoin payments for quite some time now. As mining is a personal passion of mine and I have been around here since the days BTC was 2$/coin, I have been contemplating the idea of using such an approach to power a company specific currency. To my knowledge this has not really been done, where most alts appear to be rather generalized.
I am curious as to the thoughts the community has on something such as this? Title: Re: Creating Altcoin for Existing Business Post by: Munti on July 03, 2016, 04:39:44 PM What would you use it for?
Title: Re: Creating Altcoin for Existing Business Post by: robelneo on July 03, 2016, 04:48:05 PM I am the manager of operations at a hosting company, where we have accepted Bitcoin payments for quite some time now. As mining is a personal passion of mine and I have been around here since the days BTC was 2$/coin, I have been contemplating the idea of using such an approach to power a company specific currency. To my knowledge this has not really been done, where most alts appear to be rather generalized. I am curious as to the thoughts the community has on something such as this? Why not some devs are just launching coins for hobby or just to make fast money at the expense of newbies since you have an existing business your coin will have an immediate usage,but it is time consuming you will have to hire a lot of people to manage your coin for adoption.. Title: Re: Creating Altcoin for Existing Business Post by: CrimsonGT on July 03, 2016, 06:25:40 PM Currently we use a "credit" based system on accounts which acts as a virtual currency. This credit balance can be used to pay any invoices within our system but tends to be quite basic. This is where the potential idea came into play that we could create an alt coin and use this for much the same purpose, basically creating a currency that is redeemable with us in exchange for services. This gives it value immediately in early adoption, where the acceptance into an exchange at a later point also gives it monetary value. We would likely pursue a CPU only algorithm to emphasize mining only for solo parties.
Anyways, just some thoughts at the moment! Title: Re: Creating Altcoin for Existing Business Post by: robelneo on July 09, 2016, 11:32:11 AM Currently we use a "credit" based system on accounts which acts as a virtual currency. This credit balance can be used to pay any invoices within our system but tends to be quite basic. This is where the potential idea came into play that we could create an alt coin and use this for much the same purpose, basically creating a currency that is redeemable with us in exchange for services. This gives it value immediately in early adoption, where the acceptance into an exchange at a later point also gives it monetary value. We would likely pursue a CPU only algorithm to emphasize mining only for solo parties. Anyways, just some thoughts at the moment! You can create one on cryptonote or hire walletbuilder for this kind of job but you also need to spend money from hosting a nodes and set up a block explorer for you coin but I think ethereum contract is what you really want Title: Re: Creating Altcoin for Existing Business Post by: freshman777 on July 09, 2016, 12:03:07 PM I am the manager of operations at a hosting company, where we have accepted Bitcoin payments for quite some time now. As mining is a personal passion of mine and I have been around here since the days BTC was 2$/coin, I have been contemplating the idea of using such an approach to power a company specific currency. To my knowledge this has not really been done, where most alts appear to be rather generalized. I am curious as to the thoughts the community has on something such as this? You can check Nxt 1.0 monetary system (https://nxtwiki.org/wiki/Monetary_System), there is a possibility to mint coins if this is what you require. Ardor/Nxt2.0 is going to make running custom blockchains by businesses without having to worry about security and maintenance, but Ardor is scheduled to launch next summer. Check my sig for details. |