I edited that to "semi-forcing." No one will have to participate if they don't want to. They can simply throw the mail in the trash or sell it. And no I don't see a moral issue with this, maybe you can elaborate?

The only issues I can see is:
- legalities of issuing a cryptocoin to the USA. I don't want it to be perceived by the government that we are trying to uproot the US dollar.
- costs of doing the mailing- printing, materials, postage, workers to assemble mail...  
- it is possible to opt-out of this type of mail, so some people may be blocked from participating.
- people that have several homes or PO boxes etc. will receive more coins than someone with only a home address. Furthermore households of more than one person will have to split the coins compared to someone that lives alone will get to keep 100%.

I admit this idea can be improved upon, any suggestions are welcome.

I think this will help Bitcoin by semi-forcing cryptocoin adoption on all households in the USA.

I like the idea of Aurora coin but I feel like it was implemented poorly and could be done better. The hard part is how the coins are disbursed throughout an entire nation equally and efficiently. I propose a PoS/PoW SHA256 coin that is distributed by US mail named "American Coin" (or whatever). If you have a mailbox in the USA, then you likely receive many advertisements every week. We can utilize this method of using US mail to distribute the coins. This is the most fair way I can think of to distribute the pre-mined coins to a whole country.

- Doing a mass mail to the entire United States will cost a lot of money. There will need to be an IPO to cover the costs. Research should be done to see how much it will cost before the IPO so that you could set a target for the IPO. Once it is limit is met, then the coin will start the 6 month preparation period to get everything organized for the mass mailing.
- There should be 6 months of preparation for hype/news/planning of the coin. That way people are expecting the coins in the mail and don't discard it as trash... although some people will anyways, the more news coverage we can get on it as possible the better.
- Unlike Aurora Coin, the client and software will not be released until the day before coins are ready to be distributed by mail so that mining and mass mailing starts at the same time.
- It would be good to include a DVD that someone could pop in their computer to easily install the client and get up and running. Full instructions will be necessary for the non-computer people. Having the software so easily available might spark a Renaissance of sorts regarding cryptocoins in the USA. Do you guys remember how AOL used to be the most popular dial up company? They got started by releasing free software that was easily accessible to everyone and really kick started the internet as we know it today. The costs of DVDs and instruction manual will need to be accounted for in the IPO goal.
- Determine (as a community) a fair ratio of how many coins the IPO gets and how many each household in the USA will receive.
- Develop a new way to distribute the premine coins to all IPO investors and Americans. I propose releasing the premine slowly over time instead of all at once like Aurora coin. This will provide more stability in the market at the coin's launch because people won't be able to dump as much- I propose releasing a certain percentage of the premine every X amount of blocks.
- Determine if this idea is even legal to do in the USA... perhaps by using buzzwords such as "this is not legal tender". Maybe someone with legal expertise can give their opinion?

Any ideas, suggestions, or comments?

Sometimes I like to use my free time to write and record songs. I've been so busy lately I haven't had much time to finish this, so I thought I'd put it out there so that maybe someone else can. This is my first attempt at a rap song and I can't really rap anyways, so I'm going to have to find someone that can before I can get it recorded myself. If you have the time to record the song and can rap decently, feel free to take the lyrics and record the song. I'm not really sure if I'll be able to find someone to record it with me... I don't know too many rappers lol.

If you have any improvements to the lyrics that make it flow better (or whatever) let me know.

Instrumental version so you can sing along: http://youtu.be/0rgPKPSZ62A
Lyrics start at 0:12

------------------

As I browse through the alt coin subforums
I take a look a threads and realize there’s not much hope left
Cause ya’ll’ve been pumpin' and dumpin' so long that
Max Keiser knows his credibility is gone
I ain't ever crossed a scam coin that I’d invest in
Their fan bois treat me like a punk, you know that’s unheard of
Better watch out what you invest in and what you’re minin’
Or you and your homies gonna be livin’ under a bridge
I really hate to trip, but I gotta let you know
As I browse through this subforum it’s like a circus show
Bitcoin is what the copy cats want to be like
On their knees at night, saying prayers their coin takes flight

Been spendin’ most of their time, pumpin’ in scam coin paradise
Been spendin’ most of their time, dumpin’ in scam coin paradise
Been spendin’ most of our time, preminin’ in scam coin paradise
Been spendin most of our time, instaminin’ in scam coin paradise

Look at the situation they got us facin'
Hardly any innovation, it’s all for the cash
We’ve got to fix this broken system
Watching Bitcoin’s value rise has got you chasin’ dreams
I'm an educated fool with crypto on my mind
I’m a smart long ball investor, not some pump and dump guy
I'm an alt coin aficionado, I do all of the research, so you better not ignore this lesson, fool
Death ain't nothing but a heartbeat away
Most of these coins will die, what can I say?
You better not be the one holding the bag
But the way things are going I don't know

Tell me why are we so blind to see
That the ones we hurt are you and me

Been spendin’ most of their time, pumpin’ in scam coin paradise
Been spendin’ most of their time, dumpin’ in scam coin paradise
Been spendin’ most of our time, preminin’ in scam coin paradise
Been spendin most of our time, instaminin’ in scam coin paradise

Pump and the dump, Premine and the Instamine
Minute after minute, hour after hour
All the noobs investin’, but half of them ain't looking
What's going on in the kitchen, but they don't know what's cookin'
I say they gotta learn, but nobody's there to teach them
If they can't understand it, how can I reach them?
I guess I can't, I guess I won't
I guess it’s hopeless, that's why I know they’re out of luck, fool

Been spendin’ most of their time, pumpin’ in scam coin paradise
Been spendin’ most of their time, dumpin’ in scam coin paradise
Been spendin’ most of our time, preminin’ in scam coin paradise
Been spendin most of our time, instaminin’ in scam coin paradise

Tell me why are we so blind to see
That the one's we hurt are you and me
Tell me why are we so blind to see
That the one's we hurt are you and me

------------------

What do you think?    

Thanks for the clarification. This pretty much confirms my original opinion on the matter. I think I was trying to read too much into that press release. It will be interesting to see if the SEC does anything in the next year or two about this. There are some large Bitcoin/Litecoin securities ran out of the USA.

I wish this wasn't the case though.. I have a couple business ideas that would take the likes of an IPO to get off the ground. It kind of sucks that people from other countries can pretty much start a Bitcoin security no problem. I would be scared to do so in the USA because of uncle Sam. The government is really holding back Bitcoin at this point with all the regulations.

Do you guys like my Game of Thrones reference?!

SUMMER IS COMING!!!!

Price reduced.. this is cheaper than it is on Ebay plus free shipping. It will only be available for another week then to Ebay it goes.

Even Btc-e is having problems. I went to go short what little BTC I have this morning because of all the bad news, and 10 confirmations later I still don't have access to my BTC and missed out on a $25 price swing. 

I hope nothing serious is going on with btc-e... I'm gonna get my money off as soon as it clears.  

He made it pretty easy to catch him.

If someone knows what they're doing it's almost impossible to catch them. Pirateat40 was just dumb..

It ends up I can't get off work. You guys have fun, wish I could of met some of you! 

Be ready to expand your farm or keep hashing away at full speed when summer hits. This thing can cool 8000 watts in the middle of the Texas summer... I think he proved himself. This will be put on Ebay if not sold in ~1 week as my lease is up at the end of the month and I need to get it out of here... can't bring it back to my duplex.  

Movincool Office Pro 36
36,000 BTUs
4,300 watts
single phase 208/230V electricity
Runs on a 30amp dedicated circuit
NEMA 6-30 Plug

It's something like 500-600 pounds, but has rollers and rolls around quite easily and can be moved by only one person. It will be delivered by an independent shipping company by freight strapped down on a pallet. This ships from Texas. I even unloaded it from the pallet by myself with no tools or anything although it was a bit sketchy I got it off fine. I suggest getting someone to help you get it off the pallet, as it is heavy. Exhaust is required and intake is required in some situations if the compressor is having trouble sucking in fresh air to due to air pressure.

This thing runs like a champ and I haven't had a problem with it since I got it last June. The filter has been changed weekly or bi weekly. They suggest to clean the filter weekly, but the front filter doesn't get dirty as fast as the intake filter so I usually cleaned it every other week. It has washable air filters, so all you need to do is wash them down in a sink or with a hose. It also has a timer so you can set it to cycle on the hottest time of the day and turn off at night. Unlike older models you don't have to empty any water out.. it comes with a water drain line that drains automatically!!

4.5 Bitcoins or 173 Litecoins shipped OBO

Sounds bullish to me. 

Since the government is starting to treat Bitcoin as being more legitimate, I have been of the opinion that Bitcoin securities are likely subject to having to register with the SEC to operate legally. A government press release from the Texas Securities Commisioner caught my eye the other day that makes it seem like maybe not. I'm not sure if I'm reading into it too much, but I would like some opinions. It seems like the Press Release is talking about Bitcoin as a security, but if Bitcoin itself is not subject to "traditional regulation or monetary policy", then Bitcoin denominated securities would likely not be subject to those regulations and policies either, right?

My emphasis is in bold. Link to press release: http://www.ssb.state.tx.us/News/Press_Release/02-25-14_press.php

"TEXAS SECURITIES COMMISSIONER WARNS ABOUT RISKS ASSOCIATED WITH INVESTMENTS TIED TO DIGITAL CURRENCIES

AUSTIN, Texas – In the wake of recent turmoil in the market for Bitcoins, Texas Securities Commissioner John Morgan today urged investors to consider investment risks associated with digital currencies.

“Although digital currencies such as Bitcoin are often touted as a sophisticated, online alternative to traditional currencies, investors shoud realize these curriencies are not tangible, they are not issued by a government, and are not currently subject to traditional regulation or monetary policy,” Morgan said.

Digital currencies are essentially long lines of computer code that may be encrypted and sent or received without involving a financial institution or government agency, Morgan said. “In many ways, digital currencies operate as ‘online cash,’ only this type of currency is extremely volatile and can disappear the same way your money disappears when you lose your wallet.”

Bitcoin, a specific type of digital currency, has recently garnered widespread attention due to fluctuations in its reported value and its increasing acceptance in electronic commerce. Although Bitcoin and other digital currencies are becoming more popular, they present significant risks when part of a securities offering.  These risks include the following:

  -  Questionable security of the exchanges dealing in Bitcoins and other digital currencies, highlighted by Mt. Gox, the Japan-based Bitcoin exchange that apparently ceased operations Feb. 24. A reported series of security breaches at Mt. Gox may have caused the loss of 6% of the Bitcoins of circulation.
  -  Digital currencies may be highly volatile, and their value can dramatically rise or fall in a relatively short period of time. These considerable fluctuations in value may present significant risks when investment programs are tied to demand for digital currencies or the price of digital currencies. Accordingly, investment programs associated with digital currencies may not be suitable for many investors, especially those prioritizing safety and security or planning for retirement.
  -  Digital currencies exist only on computers and are almost always used as part of transactions that are effectuated through cyberspace. The electronic nature of digital currencies may provide fertile ground for hackers, who may be able to remotely compromise computer security systems and effectively steal digital currencies. Investors are therefore highly reliant upon their own computer security systems, as well as those provided by other parties, to protect investment programs tied to digital currencies.
 -  Digital currencies may provide promoters with a significant degree of anonymity.  Unscrupulous promoters may be able to exploit the anonymous nature of certain digital currencies to conceal their true identity and assist in the concealment and laundering of the proceeds of a fraudulent investment offering.
 -  Securities offerings that incorporate digital currencies may be highly dependent upon their growth and acceptance in retail and commercial marketplaces.  Also, any change in consumer confidence, user demographic or governmental regulation, or the introduction of new and competing forms of digital currencies, may negatively affect the liquidity or value of such securities offerings."

IMO, someone is not truly a "Litecoin miner" if they are mining purely for profit and will switch to any chain that is more profitable. I think it's wrong to blame this on Litecoin or Litecoin miners.

Also, I think it is wrong to blame this on the for profit miners as well. It is not their fault that the Maxcoin launch was so incredibly botched that Maxcoin was doomed to fail from its inception. Is it their fault that no one sees any value in Maxcoin? No, that is Max Keiser's fault and his development team's fault. Many coins have survived, grown, and been improved upon despite the fact for profit miners dump the coins at the first chance they get.

Thanks for reminding me to leave negative trust for him. Avalon has screwed so many people.. I wish they'd just die (as a company.)

Hi all,

First of all let me apologize it has taken me so long to payout this bounty. I have learned a good lesson in all of this, and I appreciate your patience with me.

For those of you that don't know, about the same time I started this contest I took out a loan of 30 BTC from a forum member when Bitcoin was something like $115 each (from memory.) I cashed this out to FIAT immediately upon receiving the loan for some business expenses. About a month later the Bitcoin price skyrocketed to $1000+ where it stayed until just recently. This effectively made my loan of $3450 cost $30,000+ to pay back. I made many loan payments when the price was above or around $1000 costing me A LOT of FIAT in the process. It is for this reason I have obviously had a hard time paying back the loan and paying out this bounty. I am gracious that the lender (and you guys) has been very patient with me and I am paying back what I can afford as fast as possible. As of now I have paid back 27+ BTC of the 30 BTC loan, and I have promised to pay 32.2 BTC total back as compensation for the loan. As long as we don't have another huge rise in price of a Bitcoin, I believe I can pay off the loan this month. After the loan is repaid my next focus is paying off this bounty.

Again, I sincerely apologize it is taking so long. I made many loan payments when the price of Bitcoin was ~$1000 and all of my money is going to repay it. I have no savings... FIAT or cryptocoins, and every single extra $ I get is going to repay the loan and this bounty. I am pretty much working three jobs to pay off this debt, including running my coin business, ASIC hosting service, and my day job. I have not bought anything that I didn't absolutely need. I am hardly making my bills after making payments for the loan and am living month to month. All of this money that is going to repay the loan and the bounty I should of been reinvesting in my business so I can keep it going and order more coins. The future of CryptoVest coins is in jeopardy because of my stupid decision to take a loan denominated in BTC and make this bounty contest. It takes a large amount of capital to make new coins and holograms and I do not know when or if I will be able to save up enough to do so. I am severely regretting this series of poor decisions to get a loan and start a bounty denominated in BTC. However, at the end of the day I am a man of my word and I promise to have everyone paid back as soon as I am able.

Thanks again for your patience and understanding,

Will

After a quick look around I don't see anything about him severing ties with Maxcoin. Where do you see that Max has abandoned Maxcoin? I never mined/invested in that crap, I am just curious.

Did you get a nastygram from Fincen like Casascius or was this purely cautionary?

I kind of figured it was only a matter of time before they started to come after others like they did Mike.

Fincen is so ass-backwards on their policy for physical cryptos. Someone somewhere at Fincen headquarters needs a crash course on how this stuff works.

Bitcoin soap... that is awesome!!! It's funny because I had an idea a while back about making some bitcoin soap to sell for novelty purposes. You could put it in the guest bath or whatever.. the kitchen.. maybe a bathroom at a business?

I'm glad to see some Bitcoin soap already exists!

Sure.. I can support the initiative, but I'm not going to be investing.

Auroracoin will never go anywhere because it was premined.

The dev is probably dumping the coins he's supposed to give to all the Icelandic people.

Even if he does give some to every person in Iceland... as others have mentioned cryptos are global, hardly anyone outside of Iceland is going to like/use/invest Auroracoin.