Bitcoin Forum

What is this coin?
This is a new 100% PoS (http://en.wikipedia.org/wiki/Proof-of-stake) coin, (not another clone of NXT)  which instead of using specialized hardware to mine blocks, all the coins will be generated in the Genesis Block. Since there will be no mining to earn coins, the process of getting coins is done with forging (as mentioned by NXT developers) which can be done by leaving unlocked your wallet with some coins in it. The longer you leave your wallet open, the chances are better of getting coins, especially if you have a lot of coins.

All the coins are stored in the Network and not locally, which means that there are no 'wallet.dat' file, which can get lost over time, as proven before (http://www.bbc.co.uk/news/technology-25138627). Now, even if you lose access to your computer, you will be able to access your coins from any other computer in the world.


Key Features

Trade ACROs - P2P - directly from the wallet - with *escrow*.
There is no need to sign up on exchangers to buy & sell ACROs *if ACRO goes on exchangers sometime. You can do that directly from the wallet, with absolutely no fees, directly & instantly with other users, with no need for middlemans. Give us a second explain how this works. Let's suppose that you want to buy some ACROs with bitcoins. You open up the wallet, and you see that another person is trying to sell ACROs for bitcoins. You click on the order,and you will be prompted with a bitcoin address to deposit the bitcoins to the seller's account. But before this happens you are required to provide your own bitcoin address, from which you will send the funds. Then you will be prompted the seller's address to transfer the funds. After you send the funds and click on the 'confirm' button of the wallet, your wallet will check weather the bitcoins were transfered from from the buyer's address to the seller's address. If the transfer has been made, the ACROs will be sent immediately on your account. And that's where the 'auto-escrow' come in place. When the seller created the sell order, the amount of ACROs were undertaken from the seller's account and transferred to another. Then, when the buyer confirmed that he transferred the bitcoins to the seller's address, the amount of ACROs are being transfered to his account, completing the order. The buyer/seller can cancel the order after 24 hours if the bitcoins have not been sent.

The major advantages of this are:
-Buy & sell ACROs with absolutely piece of mind, knowing that the other person can not scam each other.
-No need to trust exchangers, when depositing funds, as this is completely P2P.
-Buy & sell truly anonymously. No one will ever know you IP address (unlike exchangers)
-No middleman involved.
-No fees involved,
-Making it a truly decentralized currency

Other features:
Although there are many reports from NXT users(https://nextcoin.org/index.php/topic,833.0.html) that their wallet was brute forced and their coins were stolen. That's why we have implemented a code generator in the wallet letting you generate a strong password of over 40 random characters of upper & lowercase letters, numbers and symbols to be sure that your wallet is safe from these kind of attacks.

We are also developing a marketplace, where you will be able to buy & sell stuff for ACROs, directly from the wallet.

Also an Allias system will begin from the genesis block, letting you 'Tag' addresses with unique names or words making it very easy for someone to send you ACROs, giving your nickname for example.

And many more!! We have plenty ideas that will start to be developed in the near future!

Characteristics
The total ACROs are 98 million coins, that will be distributed to the donators. All of them will be generated in the genesis block. The transaction fees are 1 ACRO.

IPO
Because this is a 100% Pos coin, and because there won't be any mining, all the coins will be generated in the genesis block, which then will be divided among the users who donated. If you would like to get involved and get a share from the coins that will be generated in the genesis block, you could sent some bitcoins to the following address. After the launch, the only way to get Acros, is by trading them with bitcoins (through our wallet as we explained) or by participating in faucets, but the price of the much higher then.

Because of what happen with the developers of Shares and Visacoin, who conducted a similar fund raising and then disappeared, if any donator would like a refund, we will refund his amount of bitcoins (minus the 0.0005BTC transaction fee) within 24 hours. Just PM me, and withing 24 hours the bitcoins you donated will be returned to the same address. If I don't refund you within the time period, you have every right to call me a scammer, but until then, you have no right to trash our thread with scam comments. Doing so will result in a scam report. We guarantee you that we will refund you as soon as possible, as we understand that this is your money and not ours. Needless to say that if something goes wrong and we don't launch, we will refund everybody.

You can donate a minimum amount of 0.001BTC (less than a dollar at the moment of writing). As a public note along with the transaction, write the word 'bitcointalk' and then the first and last letter of your username (for eg: bitcointalk R....O). Right afterwards, PM me with the transaction list and an email preferably and I'll add you in the donators list.

There are going to be 2 parts of investments. From 15 to 24 January, the 60% of the total coins will be divided among the early investors. From 24 January to 20 February, the donators will get the other 40% of the total Acros that will be created in the genesis block. After 21 January we will post a new address to send your donations. Refunds of the first period after 22 January will not be given. Refunds of the second period will be given until 18 February as explained above.

Donation address: 1acro4YjpYkipEzcchQJ6y5AhXoJQsg1C - https://blockchain.info/address/1acro4YjpYkipEzcchQJ6y5AhXoJQsg1C

What's your status?
The wallet is ready (not a clone of NXT), the marketplace is ~70% done, while the P2P trading platform of the wallet is only at 60%. We have strong beliefs that until 20 February which is the launch date (save the date!!) everything will be ready. We are working on the whitepaper at the moment as well. We will begin designing our website when we are done with the development of the coin.

What about the source code?
We will release the source code a few days after launch. However, the P2P trading platform of the wallet will not be publicly available for a few months after launching. Linux, Windows and MacOSx wallets will be available on launch.