Title: Idea for a mass adoption coin Post by: K45P3R707 on September 25, 2018, 03:53:05 AM NEW BLOCKCHAIN IDEA TO SOLVE MASS ADOPTION - Ecothreum (ECT) - a hybrid between a stable coin, a reward token and a dividend paying currency
NEED TO SOLVE: #-- SECTION 1 INCENTIVE TO BUY Monthly, to purchase reasonable amounts allows for a nice additional monthly income in the form of rewards/dividends, if planned, executed, and overseen correctly, could prove to be up to even 10x more lucrative than the most popular monthly & yearly credit card rewards combined! Not only that but users can print out their own E-Cash ( ECT paper wallets) with ease to use with our participating merchants like cash without having to carry your mobile device on you!!!
INCENTIVE TO SPEND Monthly, if you don't spend a minimum value of 1-5% of your total coin supply you hodl in your coin wallet you will lose 0.5% of total supply that month. INCENTIVE TO SPEND
INCENTIVE TO HODL Annually, 5% interest is made based on the amount of coins that you own and "lock up" every January so as not to be spent or transferred in any way the remainder of the year. The interest of said coins are to be paid on the first of every January of every year to follow that you keep said coins locked up. If they are unlocked for any reason, the process starts over and the user must wait until the following January to be allowed to "Lock up" any amount. INCENTIVE TO HODL #-- SECTION 2 ADOPTION BY MERCHANTS ADVANTAGES
DISADVANTAGES
CURRENT RELATIVE EXAMPLE USE CASE (IN PLACE OF) ADOPTION BY THE MASSES TARGET MARKETS: GEN-X, MILLINIELS, BABY BOOMERS Monthly, this new crypto you hodl makes 50% more profit than the average credit card company's so-called "Cash Back" program per month. INCENTIVE TO HODL Monthly, to purchase reasonable amounts allows for a nice additional monthly reward, if planned and overseen correctly, could prove to be 50x more lucrative than the most popular monthly & yearly credit card rewards combined! INCENTIVE TO BUY Monthly, if you don't spend a minimum value of 1-5% of your total coin supply you hodl in your coin wallet you will lose 0.5% of total supply that following month. INCENTIVE TO SPEND
Side Note: Whale resistant coin as it would cost the whale much much more in the aspect of the 1-5% of total supply each month must be spent and/or transferred to a special wallet registered as a Merchant Wallet. (This is so the person cannot just create a new wallet of his or her own and transfer funds back and forth to bypass this rule of thumb). Such wallets, labeled as Merchant wallets, are basically Service nodes running a Delegated Proof-of-Stake consensus mechanism. These can also double as a Point-of-Sale unit if need be by the owner making merchant duties seamless. Thats all I have so far on the coin idea. lol What do you think? If you were thinking to use this idea just please credit me and inform me as I'd like to help as well on my free time away from my own Dapp. email: indieproofllc@gmail.com Title: Re: Idea for a mass adoption coin Post by: DeltaX on September 25, 2018, 04:07:04 AM Just curious about how can you solve the volatility problem? We know that majority of merchants have been putting this as the main problem before they can try to adopt crypto as payment system. Any incentive will not be fully working on this problem. you can see that it looks possible for each coin to get down more than 10% just in a day.
Title: Re: Idea for a mass adoption coin Post by: K45P3R707 on September 25, 2018, 04:34:15 AM I just updated with a bit more info like printable E-Cash to use if you dont have a mobile device or SMS transactions for non-smartphone users. Now the volatility thanks for telling me i forgot to include the 3 items describing the coin " I had an idea for a new kind of coin, a hybrid between a stable coin, a reward token and a dividend paying currency." To have the stability of USD pegged tokens like Tether. (Until the fall of the USD lol)
Title: Re: Idea for a mass adoption coin Post by: K45P3R707 on September 25, 2018, 04:36:51 AM Just curious about how can you solve the volatility problem? We know that majority of merchants have been putting this as the main problem before they can try to adopt crypto as payment system. Any incentive will not be fully working on this problem. you can see that it looks possible for each coin to get down more than 10% just in a day. what if we could have our coin value pegged not at the US dollar but rather at the combination of three individual stable coins' average value? |