Bitcoin Forum

Ethicoin is coming.

Ethicoin's sole purpose is to improve the condition of humanity on planet Earth through sponsoring innovative inventors, authors, artists, non-profits, entrepreneurs, grassroots organizations, cryptocurrency projects, online content creators (blogs) and more worldwide.

The coin will also be profitable to mine and trade for a number of reasons which will be revealed soon.

From a technical standpoint this coin will integrate aspects of Bitcoin, Litecoin and Devcoin, and will also have some entirely new features which have not yet been seen in any crypto.

Technical details and more to be revealed soon  ;)

If you run a blog or a project which you believe may be eligible for Ethicoin funding please PM me or reply to this thread.

In the interests of an ethical launch, we are going to give plenty of notice before this coin is launched officially, testing is complete, and once the whitepaper is finalized.

i see i see. sounds neat.

Based on that description, it sounds...exactly like Devcoin. How will it be different from the existing currency?

Thank you for your support.

Please let me know if you or anyone you know may be eligible for funding,

Ethicoin will be widely mined due to the (secret feature) to be revealed soon :)

Anyone is eligible to earn Ethicoin's (beyond the miner's who will also earn Ethicoin) so please let me know if you know anyone who may be interested!

This is a very good question.

Ethicoin will be different to Devcoin in a number of ways:

- Ethicoin is not designed to compete with Devcoin (it is inspired by DVC after all) but rather to complement Devcoin.

- There will be a limit of approx 80 000 000 Ethicoin's ultimately in circulation (Devcoin is virtually unlimited) this will ensure Ethicoin's retain, hold, and hopefully improve their value over time.

- Devcoin sponsors open-source projects only - Ethicoin will sponsor any project which is deemed to be beneficial to humanity on this planet (more specific criteria coming soon).

- With Ethicoin 50% of generated coins will go to the miners and 50% will go to sponsored projects (with Devcoin 90% of generated coins go to projects and 10% go the miners)

- Ethicoin will be merge mined with LTC (OK there goes one of our secrets :) As far as I know Ethicoin will be the first coin to achieve this.

- Ethicoin is Scrypt based

- Ethicoin will implement DVC's concept of receiver files to distribute funds to sponsored projects.

- Due to being the first coin to be merge mined with LTC,  Ethicoin will in essence amount to "free coins" for LTC miners while also helpng ensure a bright future for humanity on this planet.

Further questions are more than welcome (although I have to go soon) but we will endeavour to answer any questions as soon as possible.

If you or anyone you know may be eligible for ETC funding please email ethicoin@gmail.com

Thank you for the feedback. Please read the above post - we are hoping to be the first coin which can be merge mined with LTC. I will admit the majority of the rest of the motivation behind Ethicoin is non-technical and is to simply help humanity achieve its dreams on this planet and we are proud of that.

You're wrong.  Merged mining with LTC is a major innovation. 

HippieCoin

We are currently looking for a mining pool to test the LTC merged mining. Please let me know if you know of an LTC mining pool which would be happy to support our testing.

Free love, free money, free Ethicoin for LTC miners while also helping us sponsor amazing projects worldwide. I prefer "win win coin" myself :)

your mom has hairy nipples

And that is why GLD will fail (your post). We have real vision, extensive marketing plan, and technical knowledge behind Ethicoin.

This is only the beginning.

We will ensure plenty of notice before we launch - we want to launch Ethicoin in the most above board way possible.

We will start another thread regarding sponsoring projects closer to launch - at this stage we are focussed on testing and implementing the LTC merge mining.

I want to know the % of premine. Guess i'll have to wait till more info.

There will be no premine.

Once we have the merge mining 100% tested - we will open another thread for projects to apply to be added to the receiver files from day 1.

Now you have me interested :)

Very interested, merge mine with LTC will be revolutionary

We couldn't call our coin Ethicoin (ETC) and have premine!

We will do everything in our power to make ETC coin launch ethical and aboveboard.

Our mission:

"Ethicoin's sole purpose is to improve the condition of humanity on planet Earth through sponsoring innovative inventors, authors, artists, non-profits, entrepreneurs, grassroots organizations, cryptocurrency projects, online content creators (blogs) and more worldwide."

With LTC merge mining it is envisioned to be "free coins" for LTC miners while also sponsoring such projects...

;)

One thing is certain. You try to merge mine Ethicoin with Vaginacoin.. shit will get strange :)

Close encounters of the third kind coin  :)

LOL

But could you elaborate on how LTC miners will receive free coins? I think I missed the merged mining explanation boat... :/

Thank you - this is the technical hurdle we are still overcoming and we are looking for an LTC mining pool where we can test our LTC merge mining. I'll be honest - we really need to test this LTC merge mining in the wild before launching ETC. So if you know a large LTC mining pool willing to support our tests please let me know :)

p2pool would be the easiest way.

Well, if you are mining LTC anyway you can run ETC (Ethicoin) Deamon and mine LTC at the same time. Free coins - but please don't spend them all at once and drop the exchange rate  - rather save them to support the many awesome world changing projects we will be sponsoring :) Of course cash them in if you need to that is the point :)

Thank you.

We are indebted to Devcoin for the concept (and code) of receiver files. But finite supply of ETC should help ensure the value of ETC does rise over time. DVC was our inspiration this would not have been possible without DVC.

*rubs beard thoughtfully*

Merge-mined coins are essentially "free", and thus worth the effort it takes to earn them.

Devcoin 2.0 indeed.

Which also means you have to release more information on how the spending of this 50% will be decided. Unless you are a bunch of fullblown geniuses, there is just no way you can get that part right. Also, the 50% cap is entirely arbitrary.

It is quite clear that a devcoin type thing CAN work - in principle. A kind of coin that effectively self-organizes into a society. We're talking DNA. However, how can one develop such a coin?

Either make a Devcoin 3.0 that aims solely to create a new successful coin. The reward for adopting the first coin and becoming a part of the revolutionary creation-project will come (insert ingenious solution here) when the second coin becomes successful.

Or just open-source the revolutionary creation-project of the DNA-like coin that can self-organize into a society.

There is something biblical about all of this isn't there? The second coming of the Creatørcoin that morphs into a lifelike organism, having risen from the swamp of its faithful who in due time will enter into the kingdom of Creatørcoin.

Exactly. We wanted to give the miners more than 10% (more than DVC - but we do love Devcoin) for supporting the Ethicoin project - and eventually we decided on 50%. It should become apparent rather quickly that holding ETC will be more beneficial to both our sponsored projects and the miner, than dumping the ETC. This is the preliminary ANN thread and much more detail is to come regarding ETC's long term strategy.

Thank you for your feedback.

The 50% was eventually decided as a means of distribution to give miners more % for deciding to mine Ethicoin, than BTC miners currently earn mining DVC. I wish we were geniuses, but the reality is we are just idealists of which some of us can code :)

The foundation of the how the 50% will be distributed can be seen in DVC's code and concept of receiver files; we are still ironing out the details but these will be well and truly resolved before the official ANN thread. As discussed above we will also give plenty of time for projects to apply to be on the receiver files before launch.

Looking forward to the emergent AI driven self organizing cryptocurrency you mention :)

Thank you Nolo.

We are trying to bring some innovation here by not only having a unique vision, but also through merging unique aspects of BTC, LTC and DVC while adding LTC merge mining ontop as a (we believe) essential and groundbreaking feature of ETC.

More to follow in the whitepaper and official ANN thread.

I don't mean to spam but if anyone has a project they believe is worthy of funding (including an independent blog) please email us right now at ethicoin@gmail.com

Cheers  ;)

TLDR; Official Ethicoin ANN thread coming soon, ETC will enable merge mining with LTC (first crypto to do this) if you're doing something awesome get in touch!), we are currently testing LTC merge mining before creating an official ANN thread.

Peace  8)

I fully support your motivations and direction.  Changing peoples lives for the better is more innovative and useful than anything we have seen in the last two weeks.  I hope to hear more about your project in the future.

Yay, a merge mined Scrypt coin!

This is what all the copy cat/scam coins of recent memory should have done all along if they wanted to become successful and stay relevant.

Also... this is somewhat similar to Devcoin which I think is a great idea for a crypto currency!

Apart from ZeroCoin, this is the only other new ALT coin I'm interested in.  :)

This will not work..so again, no.

You are dumb... but I could already tell that by your Worldcoin avatar, and your statement just reinforced that assumption.

Please elaborate on your statement "this will not work". Bitcoin has proven that merged mining can in fact work. Unless you hold some secret knowledge that proves the contrary, then your statement is false.

Good day..

This one has sparked my interest :) Nice to see some innovation around here.

Are projects that already receive DeVCoin funding eligible?

If so you can get quite a few directly from DeVCoin's receiver files.

(Such as the various people involved in Open Transactions development,just getting hold of them all and getting an address from each of them took a crazy amount of time so their entries in the receiver files represent months of work in and of themselves!)

Which reminds me, are you going to use compatible addresses like DeVCoin did, so worthy projects can be placed in the receiver files without having to go through what to them often seems like "all the hassle" of obtaining a special new address possibly even having to run a special new client? Beign able to simple put people's existing bitcoin addresses into the receiver files sidestepped tons of work and huge delays it would have taken if we had made up some new address system; some people in the receiver files likely still have no specifically-DeVCoin address nor have yet exported their bitcoin donation address and imported it into a DeVCoin wallet; all those people would not have been receiving all these many many months if we hadn't used the compatible addresses method...

(Though technically I think you could also just run a conversion to whatever special new address offset; it would just make explaining the whole export from other coin, import into new coin thing seem even more confusing to some users.)

-MarkM-

Excellent. Another "x coin for x niche". Because clearly any other coin can't do the same thing, because it doesn't state it in the name. Clearly.

Wow. What an insightful comment on the only coin I can see that has offered anything truly innovative for months.

Personally I'm watching Ethicoin closely   ;D

Nice idea :)

Reserved

So you heard Ethiopian children, load them on slave boats & ship them to India, where they're made to toil for you slaughtering baby unicorns?!  EthiCo, that's simply appalling! 
EthiCo, hard-working Americans want their jobs back!  Shutting down EthiCo.US to open an Indian branch, EthiCo.In, is a transparent ploy to avoid taxation & regulation.
Now-abandoned killing floors of EthiCo.US unicorn slaughterhouses cry out for justice!
Down with EthiCo.In!
Down with EthiCo.In!
Down with EthiCo.In!  >:(

And how do you think EthiCo.In gets the Ethiopian tykes to slaughter baby unicorns, huh?  That's right.  They get them hooked on smack.
I've seen the face of evol, and it's EthiCo.In!  >:(

Wow - sry, I missed that one :P I am proud of the coin than! :D looking forward to mine some :)

You can't have a limit to the blockchain and an 'ethical' coin, or the future distribution, ownership and profit skew will exactly resemble bitcoin. The only difference is that instead of early adopters determing the lifecycle it becomes you, an ethicoin foundation and early adopters doing so. Which is cool, it's a free market, but it's not ethical.

The real question is why will anyone want to earn it? Sounds like a lot of hype so far. Devcoin does need competition though because they messed up in how they designed it in my opinion.

Coinotron



If it works I'll definitely support it. I plan to mine LTC anyway. Let me ask this though, why 80 million? Is this because Litecoin is 84 million? In that case you're very clever and I now have faith in your currency. I think it's always better to go for a lower cap.

The main issue isn't the cap though, it's the inflation rate. How will you keep the inflation rate low enough? The other question is how to get people to actually use this coin? Devcoin has Devtome, what will this coin have?

so if i understand it 's a coin that will be used to fund "peace and love projects" around the world ? Cool that 's a noble intention ! But can't we already do that with € euros $ usd  or even Thai baht ?

I think it's always better to look for a way that a parameter, such as 50% in this case, can have the chance to adjust itself or self-organize in some way instead of being given by initial guesses of what will work the best.


I really applaud your efforts. But make note of how Bitcoin leverages competition, "greed" and the inventiveness of individuals to self-organize into something great.


Not much is needed! Bitcoin is already a self-organizing open source currency. With Devcoin one can begin to understand how to extend this technology to fund worthwhile projects. A key insight is to see that one can understand how this technology can fund its own improvement (i.e. growth).

Meta-ethically, one should remember that good ethics (ethical improvement) borrows a lot from perpetual commitment to truth and progress. This means that there should be brutal, "open-source" discussions about how to spend the money most productively and ethically. Discussions about worthwhile projects should have competition, "greed" and the inventiveness of individuals as input, and truth and moral action as output. That's true alchemy for real idealists!

(I'm not much of an idealist myself, but I love new, revolutionary and exciting ideas and this idea is absolutely awesome. FinShaggy is my hero just for having the audacity to glimpse the potential.)

no dude > that would be the Analcoin to Vagcoin merge mine !

also not promising is the Assscoin to Mouthcoin merge mine .

Why not plan an outlet for the coin like getting charities to accept it as a currency. Then I think it would have a unique benefit. I know ultimately that is what you're doing with the 50-50 split but you control it all. Give power to the people to choose what it goes to.

let me fix that for ya:
http://s20.postimg.org/xfu8jyy4d/Untitled_1.gif (http://postimage.org/)

Why not just fund the people with the coin? Most people want to do work which benefits the world. Very few are trying to build some WMD or weapon so I don't see why most people on Bitcointalk couldn't use it. All they have to do is figure out how to make it better than Devcoin.

Glad we have some competition now. Devcoin really screwed things up with their infinite supply of coins.

In general, the launch of any new coin needs to be fair and widely distributed in to prevent monopolies and 51% attacks.  Thus prior to launch of a real coin, you seriously need to test a fakecoin with *multiple* mining pools.  LTC mining pools currently have no experience with merged mining, thus a fakecoin with a built-in death date would give them practice in preparing to handle a real merged mine coin later.

Litecoin Dev Team feels most new coins are harmful, but merged mining coins are less bad as they do not compete for hash power that secures the main network.  While the team should not give preferential treatment to any particular coin, we do give a little more attention to answering questions to the bigger donors to the fundraiser as they have demonstrated commitment to the long-term safety and stability of the LTC network.

Warren

Interesting coin.

Would it be possible to create a system like Flattr for the users to vote democratically for elegible projects?

I have some ideas I originally wanted to share with DVC community, but must elaborate them a bit more as it seems a system of this kind must be integrated deeply with the client. Perhaps with an entirely new coin this could be easier.

Are there ways to earn this coin without mining, maybe by writing?

I am also willing to share links and make YouTube videos or anything else.