MMh, I think I misunderstood something ... to coins would not be kept by you then ?
The user tell you the address he is keeping coins in, and if after the contracted period the coins have not moved, you reward him, is that it ?

In that case, my fear of locking coins whatever happens does not hold, as my fear of a ponzi scheme as you would not be able to spend to "semi-locked" coins. Nice.

Would this be bearable ... this is still an open question. As limiting the locked amounts in face of users trying to create multiple contracts / accounts.

But ... I still don't have *any* infinicoin ^^ ... too many alts, too little hashpower and money ^^

Well, I don't have an infinicoin wallet to begin with ^^

But I'm really not sure how this service would affect users ...

Because of the mostly speculative aspect of today crytocoins, they display a strong instability in price (bitcoin included of course). Except when instantly exchanging any crytocoin income to fiat, there is no way sizable businesses (I mean where you can buy real life goods) would run on crypto as of now.
If a lot of people (or maybe more importantly) a large fraction of the money supply is kept in such service, this would probably help stabilize the price (which is maybe what is the most needed for any non "pump & dump" coin !).

This would be in the best of the worlds ...

But in the current world, there is also a risk for the holder if the market crash as he can't react and try to sell to minimize his loss.


Also, the sustainability of such a service is not assured if sizable amounts are sent to it.

Last but not least, the temptation to run a ponzi scheme is high (à la Markov or pirate something as seen with bitcoin, where you pay interest on the money newcomers deposit) ... Well some would argue cryptocoins themselves are just a big ponzi-scheme ^^

I think it's a cool idea with some potential


Think you'll generate enough traffic to pay the interest? You probably will anyway. I just worry that if I sign up and deposit some coins, you'll get just 2 chances to show me ads, 60 days apart. I might drop by more often if this was coupled with something else interesting: games, articles, commentary, a trollbox at the very least 

Ads etc only become necessary in proportion to how small a holder the powers that be happen to be.

Consider for example a Ripple type currency, in which the only way anyone other than TPTB gets any is if TPTB choose to give some out to someone.

That is the extreme case at which it is clear that they don't care how many they have to give away in order to convince someone somewhere to actually pay something for some.

Even if you have to give away 99.99 percent of your hundred billion coins to fool someone somewhere to buy 0.001 percent of them, you gain because you made the whole shebang up out of thin air to begin with and can spawn sock puppets all day everyday spawning more such schemes so really what does it matter if you have to give away hundreds of billions of worthless tokens in order to scam something of actual value from someone somewhere sometime for one or more of one or more of the tokens you spawn?

Just keep throwing more shit against the wall hoping some sticks.

Also pretty clear though is that the lower your percent holding the less easy this particular approach is to pull off. Suddenly you aren't the only conjuror waving a magic printing-press to make up worthless tokens out of thin air, and if you hold too few the other holders could try to hold you to your interest offer depositing so much more percent of the whole shebang than you even have, let alone than you are willing to give away to make the stuff look interesting so people will buy some to get interest on it, that you cannot pay the interest on that much of the stuff.

So you do pretty much need to hold a clear majority of the stuff. The whole concept maybe isn't all that likely to occur to, or seem attractive to, folks who aren't holding half or well over half of the whole shebang.

In a way this is what nations do. Lets all us important nations, the ones that count, print up a whole bunch of stuff we will call "money", and set "interest rates" to make it "interesting". The suckers will be so busy running around trying to get the best "interest rates" that pretty soon almost no-one will listen when anyone points out the stuff is all worthless from the get-go and it is them chasing the so called "interest" that makes it useful and interesting, because to get some to earn "interest" with they have to part with something, maybe even something of actual value hopefully at least when obtaining it from us, so that we get something real for our imaginary so called "money"...

So its not really very original, but it does work best when you are the sole printer of your "brand" of the stuff and especially when you can print any amount of it you need to pay the so called "interest" with.

Some theories of course might try to suggest that printing more lowers the value of what already exists, but a clever way to pretend that away is to pre-print it, so you are just issuing more, not printing more, doesn't that sound much better?

Anyway, it is fun to see it posted about, and very vindicating to see that of all coins it is of course infinitecoin that is posting it, since of course if you have an infinite supply why not issue it as interest instead of or in addition to as miners minting of it?

Earning and charging interest is a huge amount of how the values shown in the tables and plots at http://galaxies.mygamesonline.org/digitalisassets.html came about.

-MarkM-

Well, with a real-time ticker, people may tend to often keep a tab open at this site to look at their money stash grow ^^

... not that all people do that ... but did you never stayed for at least minutes looking at your miner ?

I think it's a cool idea with some potential


Think you'll generate enough traffic to pay the interest? You probably will anyway. I just worry that if I sign up and deposit some coins, you'll get just 2 chances to show me ads, 60 days apart. I might drop by more often if this was coupled with something else interesting: games, articles, commentary, a trollbox at the very least 

Sounds like (external) money / account management services. Am I correct?

I am trying to understand your goal here... you are effectively offering to *pay people* not to spend their coins but to save them?   Who pays an why?

Great points raised by minzie  

SNA or zack, would you like to PM me regarding the above? I can code PHP/sql and won't ask for $10k  

I am completely confident that you have many of the details worked out, and I actually forgot to give you props for not being afraid to talk about your idea. That is so much better than the "Pleaze code for me. I have a secret idea." I hope you didn't think I was being critical of you, because I wasn't. I was just so surprised that someone actually shared their idea that I got a little excited and wanted to offer some considerations that may make it easier for you to find help.

If I may make one suggestion, limit your scope. It is fine to speculate about what you may want to do, but until you decide what the first "phase" is going to look like, you may find it difficult to provide any direction to anyone. 

For example, my current project is a website where I can host web-based trading bots for people that do not have the hardware or technical experience to host their own. Although a simple concept, there are a multitude of parts and pieces that make it too difficult to consider all of them at once in anything other than general terms. In order to do this, I broke it down into small steps.

Step 1: Create a standalone bot that follows a simple buy low, sell high strategy.
Step 2: Update the standalone bot to include additional configurations, such as stop limits, etc.
Step 3: Add a user interface to the standalone version so that it runs in a web browser.
Step 4: Create a demo web page to show that the bot works in a web based environment.
Step 5: Create web page with limited slots.
Step 6: ..........

This is a high level view. Obviously each phase has smaller parts, but if you can describe each of the phases in a succinct manner, those smaller parts are easy to figure out, and are somewhat implied. For instance, in my step 1, it should be sort of obvious that there needs to be a 'bot' script, a way to query the exchange for information, and a way to store relevant data. Once you get to that point, then you can start to think about implementation details.

Anyway, my point is that if you cannot clearly define your goals, then it is going to be hard to proceed. If you tell me "I want to create a website that acts as a savings account for digital currency", then I have an idea of what might be needed, and I will better be able to ask questions that will help you tease out your expectations.

**********************

Now to the questions at hand, what problem are you trying to solve? What do you hope to accomplish? Why would someone use your service? What would the first phase of this project look like?

A ticker shouldn't be difficult. It should just be a matter of reading a value from somewhere and using some calculation to determine profit/loss. Monitoring an address on the blockchain is not hard either.

if you could do it it would be good    ( am looking at severs at the min )

have you posted a wanted in the services section yet ?

How would someone mine this solo using the wallet client?

good luck with the implementation
hope more games are available soon
and infinitecoin is more accepted