Bitcoin Forum

Hey all.

Since Bitcoin was around 100$, i was creating a concept for a coin that would fit all needs (imo) and i leave it over the years inside of my desk(top).
I see so many stupid and nonsens in the world of cryptos and i asked myself, why not take your concept and start to build it up and share it, maybe it opens some doors to realize it.

So i want share my coin, thats not created yet! First of all i would like to read some opinions and maybe some ideas and problem resolutions.
So feel free to contibute!

BlueCredit - System

The ECredit - System is divided in two related coins (good to compare with NEO or ETH).

1. BlueCredits (or HardCredits)
There is a total supply of 1.000.000.000 BC, no decimal places.
Generating GreenCredits, every 100k transactions the same amount (1BC generates 1 GC every 100k transactions).

2. GreenCredits (or SoftCredits)
No max. supply. Used as daily fast money and are required to send BlueCredits.


So BlueCredits generating GreenCredits like ETH or NEO gas. But in this case the "gas" is the actual money we use and BlueCredits are more an investment system that generates new money.

The transaction fee is determinated on 0.0001 % of any amount. 50% of the transaction fees goes to the miners that solve the transactions, the other 50% get burned! This is how the coin regulates itself.

Miners are only using their power to solve transactions - there is no rising difficulty or something else they need to solve. It's an eco friendly mining system. Every miner who solve a transaction get the 50% fees from it.



In this system investors could have a lot of interest in BlueCredits to hold cause they generating new supply. On the other hand the GreeCredit would be the payment methode for any time and any "money" transaction. It would regulate it self with the burning effect and could handle a stable finance system.


For any questions and ideas or even people who want to join this journey - write here your opinions or send me PMs.

This is just the first concept base. I need help. I'm looking for motivated coders helping to create this new Blockchain!

Join on Discord:
https://discord.gg/SydXtRu  

Res

Hi, how would BlueCredits generate GreenCredits? and what happens to BlueCredits after GreenCredits is created?

BC greate daily the same amount in GC. The final parameters are not fix yet.
Nothing happens with the BC after this - have a look at NEO for example. You generate gas, but the NEO doesn't appear.

At least it will be a main wallet only generation of GC so if all BC owners hold their funds in their wallet, they generate daily 1.000.000.000 GC.

So in the beginning there is a supply generating phase - after the coin is used and known, all the transactions will burn coins and with the time there comes the point where more coins will burn than generate. This is how it regulates itself. If more coins get burned than generated, one GC would rise in value and the number if coins that goes to fee go down (cause less coins are more money at this moment).

Ok let me clear this to you. Even though you burn half of the transaction fee it will just add to the total supply and thus it is not as you mentioned will regulate itself. Second since you need green credit to transact blue credit, therefore you would be needing an initial green credit for every blue credit that they have so that the user can use this as transactions. Third, what is the function of blue credit that is not yet a feature of any cryptocurrency, the community needs and wants a functions that is unique so that the "investment" you are talking about blue coin is possible.

1. I don't understand why you believe it's not possible to burn coins with transactions? Sure it regulates itself.
If there too many coins out there the price fall and people pay more credits for fees for the same dollar/or btc value.
It will find a pretty stable price in the end and thats the goal.

2. Sure there is a beginning supply of GreenCredits and a simulated transaction flow to start this system.

3. There 2 kinds of crypto needs. Fast anonymous safe money to send and receive payments in daily life & investment and speculation possibilities.
GreenCredits going to be a stable fiat opportunity.
BlueCredits are more like gold or Bitcoin. People want get it and hold it cause its generate money for them. And together with a max supply its going up longterm for sure (if the whole project success). So BlueCredits are the core element everybody whant to have. And after you hold BlueCredits, you will think twice when you going sell them.  ;)

Can you explain this?

How does burning 50% of the transaction fees prevent the coin from becoming worthless after it is launched?

Every coin is worthless after launch. And nobody said the burning function prevent the coin becomming worthless. If nobody use it, nobody want it and nobody buy it, then it becomes worthless like everything else would do.

But imagine all people of the world are using the ECredit System and pay their bread with GCredits - im talking about that point.

Getting this scenario is an other question...maybe it's just believing in the concept.

The 1.000.000.000 BlueCredits are 100% "premined" and will contibuted in a quite similar way like ICOs do.
Marketing and bounty campaigns and so on.

Additional to that there is a amount that will used to "reward" companies/ websites/ services that decide to use, accept, pay GCredits - For example Amazon would get 1 mio BlueCredits from me, if they accept GCredits as payments .  :D

Sure it would start with smaller partners, but you know what i mean.

Ok, so burning the transaction fees in no way helps regulate the coin. 

You shouldn't claim it does.

Let's say it "could", sure it don't exclude the first steps of every currency - get known, used and believing in the concept.

But if this coin reaching this point, it would be regulate itself depending on transaction numbers and values.

I'm gooing looking for people who want to join and help realzing this coin with this concept. First of all i will create a discord group today for everyone whos interesting in this.

I believe in project and pretty much interested in getting involved in building this project as a active team member and investor. I am still analyzing whole scenario, will give all my inputs to build this to reality. I can be helpful in product development, real world use case scenario implementations. Have a team for web development we can get some help.

You are saying will burn only 50% of transaction fees not the Blue Credits then how is it regulating? I don't see coin supply reduces over the period with more usage like in Ripple case as you know they are allotting to the banks who are going to use Ripple as a medium to transact. Then every transaction completes there is little portion of Ripple tokens gets burned as a transaction fees in this case may be i am missing something here? Can you elaborate how the tokens getting burned.

First i believe in the decentral system, the main reason BTC was created. Ripple is something that use the technology for the other side. I dont like the way cooperating with banks. Sure it will rise, but is it the money we use in future? I think not. It's just way for banks to live longer. In the end, i think a decentral currency will take over, deosn't matter what banks and gouvernements say or do.
So pls don't compare anything to ripple )

I don't think token is the right definition. Like i say, the GreenCredits are the main used money for the daily transaction needs, the GC regulates itself, not the BlueCredits!
BC are like BTC or Gold. There is no burn or creation of these, it's just the base of the whole system.

Start looking for people who wants to join the journey - hide me up if someone is interested!

I do agree with you Ripple is Centralized even though they burn coin it's all in control of banks again weather they want to take it up or down their best interest. I am not a fan of Ripple but trying to understand concept i guess used wrong example. So Blue Credits stay constant and creating interest in users to hold those for mining green credits and they can spend these for their daily use in platforms where we integrated our Coin for transactions. So project success depends on how many platforms we integrate this coin for real time transactions.

I think it's great idea needed good team effort and may be need one of our own Marketplace to start integrating our coin like forking a "Openbazar" or similar and working with other small retails who can accept our Green Credit. Thank you on your clarification looking forward to move forward will wait for updates.

At least you can say the plan is creating something like ripple with the vison of bitcoin. But like i said i dont want compare this to something else, have to be unique.

Make it easy and worthfull to accept this coin is the majory marketing plan. This is no ICO, but the BlueCredits will be shared for organisations that accept GCredits as payments and more.

More opinions?

I was curious and I like to know more about this idea
invitation link has been expired. Can you post new?
thanks

https://discord.gg/SydXtRu

My fault, thx.

I dont know exactly what it is and how it works but as normal condition, burn 50% of total get make the lower fee compare with other.
And also people more interest with cryptocurrency which is applied small fee.

if the project looks good enough and I have to study it again, if the burning function prevents the coin to be worthless, and no one uses it, nobody wants it even no one buys it,
does it become worthless like the others  ???

Imo 0.0001% is a small fee and let me discribe it with an example:

You send 10k GreenCredits to your friends wallet. The fee would be 0.00100000 GC in that case.
0.0005 GC go to the miners, the other 0.0005 GC will burned with the transaction.

I am currently not too interested in all new token listings because now I am still waiting for altcoin that I have for listing on the exchange.

You have to decide between BlueCredits and GreeCredits.
BC have a fix supply and don't will get burned on anytime. So its a coin like Bitcoin and others.
GC are genreated by BC and also get burned in fees. So there is a circle between generating and burning.

No where i write anything can prevent a coin to be worthless, i don't get it where people take this. Coins nobody want have, nobody use and nobody believe in and at least nobody will buy it, are worthless. Doesn't matter what this coin can do. So these are 2 different things.

The Circle of burning and generating of GC would be help to build a pretty "stable" price (for GC) in the far future, that's it.

I'm not sure why you tell us this?
First nobody talks about a Token, 2nd. i can't see any concept related opinion.

Pls stops these post gathering spams.

This seem like a complex way of making a 50% PoS, 50% PoW coin.

How is this coin "mined"? Without that the token economy is not well defined.

Is it mined?

The coin - at least i talk about BlueCredits - is 100% "premined", or in other words it's not minable.
Miners only solve the transactions and get 50% of the fee of every transaction they solve.
No release of new Bluecredits after Blocks, no difficult or something else that make power of miners senseless.

Interesting project - lets see how it works.

At least it's still looking for help to realize this concept.

are you planning any airdrop for bitcointalk users. Maybe you have any plans about bounty program?

Yes.
It's no ICO - but 100% are premined, so all the BlueCredits will give out as Airdrops and Bounties and Giveaways to promote this currency. Also a big part will used to pay and organize cooperations and listings and so on.

Technical details are quite clear to me, but what is the purpose of BCT in real life? How it solves problems or fulfill anybody's needs? There are lots of coins that are intended to be used simply as a means of (micro)payments. And majority of them will fall (sorry to be so realistic). Is there any specific industry you want to get into with BCT? 

Btw, joining your Discord now to talk about it further.  ;)

What was the main reason why Bitcoin was created and rised in the internet? Cause it was an idea of that what many people of this world want - free decentralized fast digital money.
But what is Bitcoin now? It's like Gold and so many different Altcoins for every little part of life was created.

Imo there 2 needs of the people that have to fit - good investment opportunity with safe interests & fast anonymous digital money, stable and good to use in any case - micro and megatransactions should make no different.

BlueCredits should be seen as the better Bitcoin and GreenCredits as better world currency/ the new fiat.
No banks or devs generate and burn the money - the people should do, only depending of the number of transactions.


I dont think in the furture people will pay their bread with Bitcoin, or something like DASH...or even Gas from ETH or NEO. All these ideas are good, but there is one unknown thing everything miss - at least it's maybe just the right feeling.

And don't forget the Eco friendly part, no more energy waste.

whether the new altcoin has already held ico and bounty campaign programs
it seems the project is good and I have read the website of the project I want to join in the project can you help me for that.

It's too early for all that. But you can join the discord and be ready for future updates.
https://discord.gg/SydXtRu

First step is bui9lding a community and see what the people think about this.
So join, stay and invite firends, thats all what u can do atm.

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Percentage fees are a bad idea because it costs people with lots of currency too much - the typical transaction (at least with bitcoin) is to send a payment to someone and the remaining balance somewhere else. If you maintain a high balance in any given account/transaction, you are constantly paying a percentage fee on it whenever you send money.
Also, for small transactions the fee is probably too small to prevent spam, although a small minimum fee fixes that.

It's like with the taxes. Big money should pay more fees than small money. A fix percentage is the modell!


How spam look like in this case? 

Do you have bounty program?

Is planned for sure, but atm its too early for things like this.
At least the first airdrops will done on the discord channel- so joining there is everything you can do so far.

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