That's exactly right. The (proof of stake) is something that I don't know so well and that is why I'm doing what I know (Proof Of Work). Right now POW is 'tried and true for me' and as a GPU miner it's what I familiar with. I'm going to look more into that now that you mention it, you are probably right, it may be a better fit. This coin only needs a small amount of miners to keep the business side up and running, but I want to see how it does with the added innovation of mining share incentivization. What I don't want to do is create another coin that just gets pumped and dumped like normal. It's just not interesting anymore, time for the next level.

Figuring out how to create a "Permanent escrow" would be an incredible accomplishment. I have thought about giving the keys to multiple benefactors, but if one of the chain links break the entire piano falls two stories high. It has to be a simple solution. Someone who is trust worthy and has a reputation to lose if the contract is broken. I have to believe that there is something that hasn't been invented yet that will do escrow in this way without added counter parties.

If I was to buy 5 "Asic Knc Titans" and something goes wrong(Knc never delivers or does a BFL) I lose or tie up $50,000. If we all put in what we can afford to lose, we wont take as big of a hit if something goes wrong. Basic risk assessment methodology. Investing in Asics has it's risks and anything we can do to off-set them should be applied strategically. There is no guarantee that Asics will have a decent "ROI"(return on investment) and I wouldn't want to put all my eggs in that basket. As an investor, I think the risk reward is good(70-90%) and worth putting 10-20% down on Asic Investments. Also having the Asics ran by the right people is also a factor. The difference between 100-200% gains over strait (LTC) mining.

I just updated the (Registered Members List Page) with a "Deadline to register seats" countdown clock. It will be more accurate the closer we get to launch.
http://forum.houseofcoins.us/index.php?topic=3.0

Something that needs to be said, but is not easy to say ..

I'm a gpu miner. I have a small GPU farm. I will be on the front line with everyone else in the anti-asic community fighting to build up alternatives to (LTC) that will keep gpu's relevant and most important profitable. I'm also a realist. I'm in the financial business and know how to measure risk reward. Everything points to Asics taking over the (LTC) market soon. That is a fact!

The rich will take over mining scrypt coins, it's inevitable. The world is haves and have-nots. You either have asics or you don't. We all watched what happen with (BTC) gpu mining. I know script asics wont have such a great impact as btc asics did(memory requirements), but it will still take over. I want to be on the winning team. If you want to be on the winning team this is an opportunity to buy-in on your fair share of an "Knc Titan Miner"(or whatever "Asic" that passes the house's due-diligence tests). If things don't work out for some reason(always want to have a backup plan), I would hope that the house figures something else out or refunds everyone.

Ok, i'm not going to convince you otherwise. Some people just don't like the crowd funding model. That doesn't mean it doesn't/wont work at founding successful businesses.

This isnt like a regular IPO. I don't have control of the investors funds, the house does, and if you're concerned about getting your coins you can wait for escrow. I wouldn't be opposed to giving over "Coin Distribute Bank" control over to a (REP) member that everyone can trust either. I'm a reasonable person that will listen to reasonable offers.

Ya, I'm wondering if it's because the launch is still a week off. Either way we are going full speed ahead.

Vanilla Scrypt is just "Scrypt", no flavors like N-Scrypt or X11, jane etc. Maybe i should change it to just say "Scrypt" if its confusing?

If there is someone that disrupts the house. The house can vote to exile. This is a democracy(sparta). Still and all, I personally would like to see hard evidence before making judgement.

I bought into the IPO and I'm amazed that it has gone this far(i wont disclose whether i still have my coins or not). The store looks great!! The prices are what I would expect. I'm really glad to see that a business coin can do well if the right plan if put behind it, and i hope to see many more(im not saying GPUC is going to do well, that remains to be seen)(im saying the community wants to make it work and if the plan is sound it will work). My new business coin https://bitcointalk.org/index.php?topic=553599.0

If we are able to raise enough to purchase the "Knc Titan miner". Another ideal is to setup a business and offer mining contracts. Ebay now has it's own section to promote this. http://www.ebay.com/chp/Mining-Contracts-/179172 . We can get almost double payouts(200% of what LTC pays out or more this way). I have been doing exactly that for a while now(smaller scale). -Another thing that would be up to the House to decide on.

People want Bounties so i decided to pay for them out of the %2 administration fee. I will be paid "0" for this launch.

The first Pool hoc.talesfromthescrypt.org definitely gets one.
Any translation services will get one.

The amount of bounty will be comparable to other coin launches(let me know what is fair).

I'm getting some interest on the investor/business side so everything is looking on track.

You can pay whenever you want, but escrow is not ready yet. I will also be giving refunds up until the point of [HOC] coin allocation, just incase anyone changes their mind for whatever reason. And the House can always vote to issue refunds to anyone or everyone at anytime.

Translation services sound great! I did not include a way for me to pay for bounties in the design(no dev premine). I will have to see what i can do and get back with you.

10 days away gives me enough time to figure everything out.

I'm starting to rethink the specs. I don't want the House to worry about miner saturation. I don't want the House members to pay for a seat and expect a certain payout and get less because miners are selling coins for cheap. I could change the rules and set the asic share payouts at a non dynamic rate(frozen to ipo buy-in)(this would allow house members to calculate an accurate ROI(return on investment). It's too hard to predict if this would be worthwhile or not, because a dynamic rate will allow more aggressive and active house members to rise to the top and that may be a good thing too.

Also wondering how to promote this. I starting to think most of the business minded folks are not on this section of the forum, but lack of promotion is also to blame.

Good question. An exchange will perform the value transfer from coin buyers in the "House" to coin sellers mining [HOC] for profit. Members of the house want as many [HOC] as they can get because the more they have the more power they have, or in terms of mining shares, the more share payouts they will get(incentive). There will also be a secondary market force of speculators who willl buy and hold the coin for its gold/BTC like deflationary properties. If the business takes off and word gets out, there will be investors buying [HOC] like it was a stock.

Because the House will own most of the coins in circulation, and the value is what they are selling for, the house can set the price to whatever they want(Example: only selling at $1 per coin). (Example: 10.5 million HOC coins valued at $1 each would set the market cap at "10.5 million Dollars" on Coinmarketcap).

A coin only needs a small group of miners to keep it going. This is not like a conventional coin. This is a small business coin run for profit. I don't expect a coin like this to have a pump and then go to zero after a few weeks, but I'm not a futurist so maybe ppl will try and pump and dump it. I think it will rather last for the long term and provide steady guaranteed returns to House investors, and in uncertain crypto markets, steady and guaranteed returns are a great way to hedge part of your portfolio, much better than taking losses.

On a separate note
If we work together we can accomplish much more than separate. I envision a crypto business market that hasn't been tapped yet. There are lots of skilled people that investors could put to work and get back a steady income in the process. Crypto business shares are a way to do this and im looking for great people who want to help make this happen. HouseofCoins is just the start, a building of a community of like minded individuals in a new found crypto space.

that's really funny!!!!!!! 

My ideal is to Purchase "Knc Titan miner/s" with the "Coin Bank Funds" and issue mining shares back to the house members based on coin ownership percentages. Everything can be transparent, from tracking of where the miners are pointed, to the amounts paid out. This insures you will get your fair share of payouts from the Asic Titan/s.

If the majority of the house decides that this is a bad ideal or has a better ideal, then the house can rule against it and it will never happen. The House is the final authority and makes the decisions, not me. This is only an ideal from one of the "House Members" that does dev work.

If this is a route that the house wants to take, it would be advisable to get this going as quickly as possible before warehouses of Titans began appearing and it starts looking like Bitcoin centralization. We can all stock pile LTC's and hold until it hits $100 later this year or next, or get payouts in BTC. We will mine whatever is most profitable(multipool, direct, solo). Doing it this way(being first source) will be way cheaper than something like this http://scryptsmining.com/ . We can also still have our gpus pointed at vert and x11 too. Having a coin(HOC) backed by "Asic Shares" might make it quite valuable & scarce as well.

.

I just put one of my rigs on X11 today. This might be one that is better to mine and hold and not sell too quickly.

I want to start mining this instead of Vert. I'm sold on the lower electricity and anti asic properties and the more I research it the better it looks as an investment standpoint(lower difficulty good time to get in).

Looking that this, how do i find strait forward directions on how to optimize this for GPU"S. I'm new to X11 and will just jump in and try and figure it out, but if anymore can help speed up that process with links or specific info, please do for me, and anyone after me. I have a 6 rig 7950 msi twin frozr that i will use full time on this coin.

The reality we face. Many miners are eager to sell, so the natural supply/demand remains unbalanced for now, the price will remain low until they have dumped their supply for cheap. Once enough coins have been bought and sold that the unbalance evens out, the price will instead actively raise just as BTC one did.

I got mine right away.
I wanted to say also thanks for the great escrow Tomatocage and hope you can find the time to do this more often and cleanup some of the fear in investing into ipco's.