50 MB block sizes is the block size limit for transactions. the block size limit prior to SegWit on BTC was the reason why so many transactions were in the queue and could take, at time, up to 18 hours to confirm. if there are no transactions in a block, it will only contain headers. if there are 10 transactions processed in a block, then the size of the block will only represent the data needed to record those txs into the blockchain. the 50 MB block size data limit represents the upper limit of transaction data that can be included in ONE BLOCK.

thus, we CAN, without issue of delay, process 512 million transactions on the BAY Money blockchain daily. naturally, the system faces nowhere NEAR that sort of traffic presently, and would unlikely ever need to deal with that sort of traffic. consider that the record number of confirmed daily transactions on the BTC network is just over 369,000 (on may 13, 2017)... simply, the block data size limit on the X11 algo GAY Money utilizes permits the sort of sheer scalability that will ensure that transactions are processed nearly instantaneously, far into the forseeable future.

the current size of the blockchain data file stored on my harddrive, representing several years of operation, is only 208,296 bytes.

our previous explorer at http://104.236.2.124:3001/ ceased operation a week or so back. we are setting up a new block explorer with thecryptochat.net and should have it online within a day or so. i will update the OP and reply directly to this question again when we have that set up.

as for difficulty, the console in the desktop wallet features the "getstakinginfo" command, which currently reports:


naturally, your own "weight" will reflect your wallet balance and accumulated coin-age.

calculating rewards is a little easier, as ive watched my developer's reserve stake consistently for several months. the simplest formula, considering the 20% APR presented by this currency, is that 2000 GAYcoins will produce 1 GAYcoin in interest daily. as with any Proof of Stake currency, the frequency of staking will depend on the user's balance compared to the total number of coins being staked, and while a 2000 GAY balance might take a few days to stake at first, calculated interest through coin-age will be factored in. and like other PoS coins, the estimated time to stake will look daunting at first, and will reduce in time very quickly.

(i sent 5000 GAY to a friend to test out the staking of smaller balances than the weight of my developer's reserve, and it took three days to stake for the first time, and presented him with 7.7762 GAY on his first stake. it has staked each day since, generally several times a day, and fluctuates in total staking between 2.35 and 3.15 GAY daily.)

GAY Money (GAY) was launched originally in 2014 as GAYcoin, and has quietly chugged along, producing a stable blockchain with low fees,  lightning-fast transaction times, and a sustainable 20% APR on active balances. This project was designed to provide a digital currency brand marketed to the LGBTQ community, with a focus on providing real world utility. The underlying mission of the GAY Foundation, powered by GAY Money, is to administer philanthropic funding earmarked for LGBTQ awareness and advocacy, HIV/AIDS research and support, and women's shelters worldwide in a long-term sustainable fashion; and to engage in targeted investing in LGBT-owned businesses and services.

The current goal for the 3rd quarter of 2017 is also to integrate GAY Money as a cryptocurrency into a corporate body - GAY MONEY LTD - registered in the UK, and we will be bringing forth several upgrades and enhancements to the GAY Money ecosystem alongside this change, including launching a GAY Money-branded fiat-gateway and exchange as well as setting up retail integrations both online and at local LGBT-owned and -friendly establishments with consumer incentivization programs and reloadable GAY Debit cards. The goal is to provide a secure and reliable currency that will be represented across the broad spectrum of the LGBTQ community and market.


Niche-market cryptocurrencies are important, and can be very successful if their target demographic market is large enough, shows a preference to brand loyalty, and can present an avenue for effective retail utility. The global LGBTQ+ market - estimated at a population of 450 million individuals, collectively represents about USD$3.7 trillion in annual spending power, and a specific pride of community and projects supporting it - meets all these needs for a successful niche-market altcoin. We feel offering a durable and borderless digital currency for the LGBT commmunity will also provide a form of financial self-identification, and present a ready alternative to current financial options from an established project and community which values their diversity and understands their needs.

As a market-ready digital currency, we are well positioned to take advantage of many emerging LGBT retailers online, and we are already working with LGBT tourism operators and "bricks-and-mortar" businesses and services to accept GAY Money in their establishments. We offer far lower transaction fees and verification times than Bitcoin does as a value transfer engine, with the same ease of use. We hope to become regarded as a healthy alternative for merchants who choose to embrace decentralized economies while at the same time showing active support and Pride for their local LGBT community. And we plan to GIVE BACK to these communities with humanitarian grants and sponsorships, to support artists and students. With a global ripple of increased market utility, we will drive the value of philanthropy the Foundation can deliver in a self-sustaining fashion.  

GAYcoin itself was launched in 2014, by George Lawin, but after dealing with predjudicial attacks in the forums as well as in personal messages, the previous [ANN] threads were locked. Mr. Lawin did remain working with the currency, securing its listing on Cryptopia, and working towards his original goal of providing a legacy of support to the LGBT and HIV/AIDS charities and rights programs. I have come on board, having worked with SOILcoin for the past year and a half (and remaining working with that project), bringing with me an understanding of the paradigm shift we are approaching with cryptocurrency and blockchain tech in general, the ease of integration, and the unique global market this project can reach and serve in ways that Bitcoin cannot.

We have chosen to begin the process of registering for incorporation operating the Gay Foundation thru GAY MONEY LTD, and will operate as a self-funded development team towards building and maintaining a global GAY Money marketplace, buiding and maintaing a sustainable global philanthropic and LGBT rights network, and using GAY Money to invest in LGBT businesses. Cryptocurrency, in its many forms, will form the backbone of the future economy. We want to ensure that our project maintains the highest standard of how a cryptocurrency project can be a real world value item, a profitable enterprise with self-sustaining wealth and wage generation, and promote equality, diversity, humanity and love across the world by lifting up and assisting from the grassroots.

As before, the driving goal behind the GAY Foundation remains to "encourage equality, nurture diversity and eliminate hate". As such, the non-staking Foundation Wallet [gLsrjEbo31wmXZQssAeGyrw4CwBZgxafev] will be used to support charities, non-profit organizations and individuals worldwide in an effort to help raise awareness, to combat discrimination and help lobby for LGBTQ rights worldwide. We believe in an underlying principle of "absolute inclusivity" and celebrate every diverse form of humanity. The community will have a right to have their voice heard on where we can have the greatest impact on peoples lives, and we hope to also give a voice to these various groups and individuals with our GAY.news site, which will start off as a newsletter, but for which we have the view to provide relevant features, news and interviews that intersect both the cryptocurrency and LGTBQ communities. Investments into LGBTQ businesses and enterprises will be made thru the developer's own funds and will not be taken from the Foundation balances.

Currently on this planet, fully one-third of nations have laws prohibiting homosexuality, with punishments ranging from imprisonment to the death penalty. Fully one-half of the nations of this world have no protection against discrimination and human rights abuses towards the LGBTQ community. GAYmoney, and the GAY Foundation, will strive to be the voice that speaks out against this bigotry and senselessness.
Cryptocurrency CAN have a meaningful impact on real world issues, it can be a protocol that can survive outdated political institutions and become a vehicle for change in societies where the LGBT community lives in fear to this day.

We do not view this as an overtly POLITICAL altcoin, moreso, with increased market utility and demand, we are pursuing the economic equilibrium where retail users of GAY Money support the charitable aims of the project by continuing to provide liquidity and increasing value. We will aggressively pursue retail integrations, and have so far been operating with a "think globally, act locally" point of view, I have had discussions with several local community-owned businesses that are more than ready to accept GAY Money in their stores, and will be set up as this summer goes along and we have more of our architecture arranged.

Local reaction by business owners towards accepting GAY Money has been entirely positive, and many business owners have expressed that they would accept it simply BECAUSE it supports their community, directly and indirectly, that THIS is the sort of project that truly EMBODIES the idea of Gay PRIDE. The simple fiscal advantage of lower overall fees compared to bank, credit card OR Bitcoin fees, coupled with nearly-instantaneous and irrefutable transaction confirmations becomes an added bonus.

To encourage community support and involvement, we are equalizing the principle of corporate shares classes, and the rights those import upon shareholders, with the underlying currency GAY Money. With implementation of industry-standard KYC/AML services and "signed transactions", GAY Money investors who hold a verified minimum threshold of currency in an active wallet will have voting rights to help direct where the philanthropic funds are sponsored towards, as well receiving a proportionate dividend from the profits generated from fees on the better.exchange and fiat-gateway site. Members of the Board of Directors will maintain a much larger threshold of active currency, maintaining consistent network security with stable held equity.


We will be maintaining this thread with news and updates, and encourage an open and lively discussion on the project, the role of cryptocurrencies in niche markets and the future economy, and how GAY Money can help in your community. I encourage you to ask lots of questions so that we can build a highly informative FAQ for our website. I *DO* ask that if you simply want to engage the conversation with intolerant and discriminatory remarks, that you take it elsewhere. I appreciate every point of view, but will report prejudicial and senseless discriminatory authors to site administrators. We are a community of professionals, and we should conduct ourselves professionally. Be an adult and do not insult or put down other participants. Harassment and other exclusionary behavior is not acceptable and will be reported.

SPECS

Algorithm:      X11 (PoW/PoS hybrid) *PoW ended block 18000. NOW PURE PROOF OF STAKE.
APR:              20% interest on active balances
Min. Stake Age:  8 hours
Max. Stake Age: 9000 days (essentially unlimited)

Block Time:   60 seconds
Block Size:    50MB

Max Coin Supply: 10 billion
*5 billion coins were minted on the genesis-block, which have been locked in the non-staking Foundation address which can be viewed at http://explorer.gay.money/address/gLsrjEbo31wmXZQssAeGyrw4CwBZgxafev

These funds will be used, with stakeholder input, to perform the philanthropic arm of the GAY Foundation's mandate, operating as a self-supporting fund that will provide charitable support for generations.

Min. Tx Fee    : 0.00001 GAY

Confirmations  : 1 confirmation for transactions
                        100 confirmations for minted blocks

Connections:     Ports: 24241 (connection) and 24242 (RPC)

WEBSITE
http://www.gaycoin.online/
http://www.gay.money/
http://www.gay.foundation/

DOWNLOADS
Windows - http://www.gaycoin.online/wp-content/uploads/2016/04/GAY.zip
Mac - http://www.gaycoin.online/wp-content/uploads/2016/04/GAYCoin-Qt-OSX-v1001.zip
Linux - http://www.gaycoin.online/wp-content/uploads/2016/04/GAYCoin-qt-ubuntu.zip


Android - bounty available, please contact dev (email:ceo@gay.foundation)
iOS      - bounty available, please contact dev (email:ceo@gay.foundation)

BOOTSTRAP.DAT - https://ufile.io/8s27d

GITHUB SOURCE - https://github.com/Gaycoins/GAYcoin-Online

BLOCK EXPLORER - explorer.gay.money (hosted by thecryptochat.net)

FAUCETS

http://faucet.gay.money/ -receive 100-500 mGAY once every 60 minutes. 15% referral program.

EXCHANGE


**We'd like to thank the administration at Cryptopia, once again, for their wonderful support in promoting GAY Money during Pride Month in June, as they generously gave GAY Money a tipping bot and reward bot.**

exchange.gay.money (coming 4thQ 2017)
better.exchange - (coming 2ndQ 2018)

SOCIAL MEDIA

The GAY Money Gazette - gaymoney.news
Facebook - https://www.facebook.com/GayCoin/
Twitter - https://twitter.com/GayCoin

TRANSLATIONS

Indonesian - reserved by Robotbitcoin22
Finnish -      reserved by SonOfNorth
Greek -        reserved by killerjoegreece

SPEND YOUR GAY Money HERE!

https://gaymoney.market/ - this GAYmoney owned site will maintain a "rainbow pages" directory of GAY Money accepting merchants and artisans, and will welcome advertising from any LGBT-owned and -friendly business. (presntly a basically informative landing page) - site ready October 2017

Cafe Flater (Utrecht, Holland) Cafe Flater began accepting GAY Money this year during the Utrecht Canal Pride Parade.
- (https://www.facebook.com/Cafe-Flater-183518494996338/?rf=133435300043393)

media kit -  https://ufile.io/o3e4z

WE ARE HIRING!!!

The LGBT community is a global chorus, and as such, we want to make sure that our project's voice is heard in every corner of the world. We are seeking community members willing to act as regional GAY Money ambassadors. We will be incentivizing this with weekly stipends, and naturally, in the spirit of reaching every corner of the cryptocurrency ecosphere, we will be looking for translators to transcribe this forum OP as well as official news releases and updates on an ongoing basis. Please contact Abvhiael (ceo@gay.foundation) to discuss these positions.

BOUNTIES

Watch this space for links to any ongoing social media bounties

CONTACT

Abvhiael Crowley
(ceo@gay.foundation)
George Lawin
(george@gay.money)

updated OP, lowering price. my hope is to raise at least 2.5BTC in order to cover the basic downpayment necessary on the house, which will et me to the 75% Loan-to-value threshold. selling for 7500 satoshi per GAYcoin. thats a steal compared to where the price will be heading beyond september!

I am selling UP TO 500,000 GAYcoins for 0.00007500 BTC per unit. I will negotiate the sale price if someone is interested in buying a large block of currency. I havent done a great deal of peer to peer trading and would request escrow services, which i would cover the cost on.

I am using my equity in this project to purchase a home for my family. The purchase price of this home is less than 80% of its value while its insurable value is 5x the asking price. (its a grand victorian in very decent shape but one that witnessed a tragedy). I have already put $2000 CAD as a deposit on the home, with a balance owing of $110,000.

I initially set out to place this sort of balance in escrow and pay a lender from the generated interest over a five year period to cover both the purchase price and 25% interest to the lender. I believe the real estate market is set for massive disruption through cryptocurrency and blockchain technology, and eventually that sort of deal will be much easier to set up. With time an issue now, I would like to simply sell a larger block of GAYmoney at a reasonable price and cover the house costs.

I am a member of the core development team for this project, which is a pure Proof of Stake currency which provides a reliable 20% APR. Although the current [ANN] for the project is an older one, we have been working on rebuilding the project and have been buiding a number of services for a corporate launch on September 1. You can still download the GAYmoney wallets at gaycoin.online, but we will  be migrating this site to our new ones at gay.foundation and gay.money by the end of july. Presently we are traded at cryptopia, and are looking at adding representation on another established and trustworthy exchange in the next month.

The fund I am hoping to sell produces, with regularity, 250 GAY/day (7500 a month or over 90,000 a year) and with the developments we are working on and detailed below, our average valuation and market volume will be increasing substantially over the summer.

Current developments on the project include presently licensing an exchange to provide convenient fiat gateways to purchase or sell GAYmoney directly, as well providing an altcoin exchange against GAYcoin and few other popular base markets called better.exchange which will be live for the corporate launch. our integration into a multi-currency android wallets is currently underway as is a standalone GAYmoney wallet for Android and iOS smart phones. we have several businesses, both online and bricks-and-mortar that are ready to begin accepting GAYmoney when we have these parts in place, although some are already accepting paper wallets.

We are also incorporating as a Financial Services Business in Canada as the GAY Foundation, Inc. This is so that we can adhere to current Canadian laws regarding digital assets, as well as proactively seeking regulatory compliance against the future legal position of cryptocurrency projects. This Foundation will be responsible for administering the slow release of funds from the charitable wallet set up and untouched since the projects genesis several years ago, and will set Share Classes to coincide with the underlying cryptocurrency as simple ClassC non-voting shares. We will incorporate a threshold system of share balances that will adhere to KYC/AML practices and signed wallet verification towards a ClassB voting share and dividends from profit secured by exchange fees. A larger threshold will be set out as a ClassA Board of Directors level of shareholding, which will permit voting on higher level corporate decisions and a place on the board to help set out future company direction. This corporation will also be investing in LGBT business and services to help promote market integration.

We have held off on our new [ANN] until we have concretized much of these developments and expect it to be published within a few weeks. But presently, I have need of fiat to purchase a home for my family. There will be more volume on the exchanges, although we have been pushing closer to 1BTC daily volume recently.

If you have any questions, please do not hesitate to write me here or thru PM.

with BTC rising so well, I can amend what I need to secure the mortgage to 30BTC. Will set 250% of the value in escrow, and can also offer 20% value in crypto to the lender as downpayment straight off. (3  BTC worth of GAYmoney, based on USD $0.40 ((current value $0.57)) would be 21,500 GAYcoins). More than willing to split this up between multiple lenders. The funds paid back on a full funding agreement would equal (again based on a $0.40 USD unit price of GAYmoney, about 65% its current value) 40 BTC (simple 25% interest), but we can negotiate this. Naturally the VALUE in USD would be much different as BTC is likely, by even the most conservative estimate, to hit $10k/unit within 5 years, but thats what speculation and investment risk is all about. Id prefer to payout the mortgage based on USD, but am willing to pay it off in BTC as it provides more security and overall value to the lender.

The house itself: the offer accepted was for 112,000 CAD ($72,800 USD or 25.4 BTC) and has an assessed value of 135,000 CAD ($87,500 USD or 30.6 BTC) and is a century old Grand Victorian. A detailed home inspection has been done, and while there are repairs, none of these would cost more than $3500 USD, and none are affecting the structure or stability of the house. The worst to be done is the back porch, added in the 1950s, was built on top of railway ties, and has been pulling away from the house. This is a 2-day job to fix. Roof, plumbing, electrical, etc all less than 10 years old.

The valuation of GAYmoney will increase, as will BTC, and we can arrange to cover the payment as the value in BTC as opposed to the purchase price in USD, and am willing to set a minimum threshold required for monthly payments in BTC. Even if the price of GAYmoney plummeted, I have significant reserves to cover any shortfalls. Willing to entertain sale of GAYmoney or escrow of a decent amount towards even 3 BTC as the downpayment so that I could cover the mortgage via traditional means (although Id hate to have to sign on for 25 years of debt thru them.)

for the simplicity of the term as related to real property such as a house. and similar to a mortgage, the lenders need to be ensured that there would be proper title on the home, free of encumberances, that there be detailed home inspetion and up-to-date tax certificates, all of which can be provided. i think it would be integral that the house, as encumbered equity, be included within the contract, that it be listed as part of the overall collateral.

details regarding the home: the accepted offer on the home is $112,000 CAD. (USD$72,800) i have already placed $1000 CAD on the home as deposit. the most recent tax assessment on the home (2017) is $137,500 CAD. (will provide link upon request) it is a Grand Victorian, on a 1/4 acre corner lot. it has 5 bedrooms, a third-floor in-law suite, many upgrades, and the advantage of having an established general contractor as a brother who would be performing renovations.

im willing to approach this loan from many angles, and im up for negotiating any sort of customization to teh arrangement potential lenders might have.

i feel that this sort of arrangement may become something much more common, where cryptocurrency has disrupted simple value transfer, and international remittances, and so many other financial aspects of our lives, its a logical step that we will begin to secure real world assets against these digital currencies, much as there are gold-backed cryptos, "bit-mortgages" will be a more readily available service before too long... it would be wonderful to be able to group fund something like this, with each participant receiving proportional payment as scheduled, spreading out the risk and the reward as it were.

about me: ive been working with the development side of cryptocurrency for  a couple years now, this is my career path. i will be working to improve the project for which i am offering my collateral in, and we do have a definitive roadmap in place over the next several months, we are working very diligently on real market integrations, and will add representation at other cryptocurrency exchanges as we approach september as well.

i also remain working on the SOILcoin project, which is probably less well known than GAYmoney. it is an early clone of Ethereum, and we have positioned our mission statement from our launch in october, 2015 to work towards building dApps for renewable energy, environmental concerns, precision and automated agriculture, and scientific distributed computing. that project is a long term vision, and although we are presently with code-parity to ETH (inclusive to implementing Swarm and Whisper protocols) SOIL is also investigating the implementation of Ourobouros as a POS scheme before years end, as opposed to teh Casper protocols which operate too much like a master node program for my liking.

i do have a small reserve in SOIL, which really doesnt have an assumed value presently, although we maintain diligent development, as we are truly more concerned with building security and the application infrastructure necessary to produce what we believe the EVM can do as technology catches up to our vision. but im willing to put that up, too, on principle.

im the guy the eats, thinks, moves, sleeps, DREAMS about cryptocurrency, and im a full on futurist, i see where this technology is leading in a hurry, faster than i even expected. im simply in the position, with digital assets holding a value that would get me out of the rental situation im in, paying $825 CAD for an apartment, and owning a home for my family that will allow me to commit my entire being to building value for GAYmoney (and that will be a very large project) and for SOILcoin (which was never meant to be a for-profit blockchain, really, although i understand the economic necessity for valuation, the SOILcoin project was idealized as a humanitarian project, leveraging open source applications to improve the efficiency of how we deliver energy, how we offer cloud computing and content hosting, how we decentralize agricultural technology for the benefit of the future... )

so, perhaps in a way, asking for a mortgage is simplifying the term, because overall, this is an investment not only in the escrowed balance, but in me as a developer as well. i hold myself to a very high standard with what i do, and hold those who work with me of for me to those same standards. im not rich, fiat wise. ive been out of regular work for years owing to a disability. i have intransigent epilepsy which is pharmacologically resistant, which forced  me out of the workplace where i previously enjoyed employment as a phase-1 archaeological surveyor for oil-exploration companies. ive paid the bills with a small pension for years, supplementing with small clientele tattooing, but ive always had a head for numbers, and cryptocurrency as an overall ecosystem came very easily to me.

im not sure what else might be helpful, but if anyone has any questions, please dont hesitate to ask.

GAYmoney is worth .0002485 BTC presently (USD $0.62) which has been a fairly steady average rate over the last month.the volume is the issue which is why ive offered substantially higher percentage of escrowed value compared to purchase price (200-250% for a load paying out in BTC or 300% if paying out in GAYmoney) than what most loans ask for (120%) and this was done to help insulate against valuation loss for GAYmoney, because yes, while i have aspirations for working with this currency, im a realist and know the market can go any damn way it chooses. there is heavy development occuring and ive been around long enough to know that the sort of features we are adding will build volume and should hold valuation at the very least steady.

as for market cap (http://coinmarketcap.com/currencies/gaycoin/#BTC) provides a little information, and the block explorer (http://104.236.2.124:3001) shows total coin issuance. the 5 billion reserve that frightens so many people because of how scams have occurred in the past with other currencies, has been sitting with full balance from the coin's genesis. (gLsrjEbo31wmXZQssAeGyrw4CwBZgxafev)Mr. Lawin, the project lead  has built his own balance of his currency for himself, and the premined amount is set for slow philanthropic disbursement with direct community input. there is no risk of that being dumped and affecting the overall price.

if one actually takes (coin supply*market price) into consideration, GAYmoney has a total market cap of (5603079598*0.62) or just under $3.5 billion dollars US (which puts it as #4 total market cap overall) or if one simply considers circulating currency (although XRP counts in the 60 billion in reserves that currency development holds onto presently towards its market cap) still presents a circulating value of USD $374 million, which still positions GAYmoney in the #13 spot for total market cap. so GAYmoney was value, it simply doesnt have the necessary volume presently, otherwise i wouldnt be looking for a mortgage.

the volume can and will be built, which will only improve the positioning of GAYmoney, and this sort of volume will greatly improve with a positioned exchange for GAYmoney as is in the works, but those situations are likely a few months down the road, and the chance for me to purchase this home at this sort of price range is something that doesnt come around very often. i have made an accepted offer on the house, and made my deposit on it. will send info regarding the house via PM to potential investor and allow for titile to be included as part of the surety need over and above the escrowed currency.

**to be perfectly clear... the payment will come out of the minted portion ABOVE the escrowed balance. that balance will not be altered during the mortgage period unless it is to add to its weight due to a sustained market value below an agreed upon threshold.

moved to long term offers.

Im looking for a bitcoin funded mortgage. Im asset-rich and fiat-poor, but have the opportunity to purchase a grand victorian home for about half of what it would cost to build. i am a long-time user of bitcointalk, and have ongoing development involvement with two separate active currencies over the last two years.

Essentially, I need to borrow between 40 and 45 BTC, with repayment scheduled over 5 years with a minimum 25% return. I have collateral in the form of a PoS altcoin GAYmoney (which features a 20% APR), and will be wiling to put 200-250% of the loan value in escrow, secured by multi-sig. i will present the lender with the option to take bi-weekly or monthly payments either in the minted currency from the escrowed wallet or to have those funds converted to BTC and used as direct payment against the principle.

eg:
GAYmoney average value over last 30 days: (USD $0.50)
current value via coinmarketcap: (USD $$0.620959)
escrowed wallet size: 250,000 units (assumable value @ $0.50: USD $152,500)
daily minting: ~125 units (assumable value @ $0.50: USD $62.50)
therefore, bi-weekly lender would receive either 1750 units of the escrowed altcoin, OR those would be sold on market for BTC, which is paid directly against the debt (average of $875 worth). monthly, this would equal 3750 units of the currency or sold for BTC to be paid directly against the debt ($1875 worth).

link: http://coinmarketcap.com/currencies/gaycoin/#BTC
present project website: gaycoin.online

based on current prices, the principle would be paid down after approx 42 months (3.5 years) which would produce 18 months of pure interest delivered to the lender. as per standard mortgage practices, this interest would be applied foremost to the repayment plan, 95% interest to 5% principle until the assumable interest (approx 14 BTC) is covered. i would also offer a three month early payment penalty (2.33 BTC) should my other reserves of this altcoin generate enough money to effectively shorten the loan period, which is likely.

if the lender wishes, they can simply take the whole minited balance on a regular schedule, which will conclude the loan after 5 years. we can negotiate this timeframe as well, either a larger escrowed amount over a shorter time if necessary. (will escrow up to 300% the value of the loan over 5 years if lender wishes to take this route)

id be willing to take several smaller lenders coming together to fund this, which will produce proportional payments on the agreed-upon schedule, although all lenders would need to agree on one form of payment (in BTC or altcoin) at the outset of the loan.

at the conclusion of the loan, the escrowed balance of currency will be returned to my sole control. there is risk in this sort of loan, what if bitcoin tanks? what if my altcoin fulfills its plan for the coming months and reaches USD $1 parity or more? there is possibility of great reward, but i will do my best to mitigate any likelihood of loss, and should the altcoin escrowed fall in value below a certain threshold, i will top up the escrowed amount to compensate. this option may be visited once every 6 months, and can be strictly delineated in the loan agreement..

conversely, i would be willing to sell this altcoin outright, at between 66-75% its current market value, depending on the offer. (ie: 40 BTC for ~300,000 units of currency based on an aggregate USD $0.33 unit cost, we can negotiate this)

for the sake of transparency, i am involved with the current development of GAYmoney, so these funds are simply a portion of my developer's reserve. this currency has been somewhat under-the-radar since it was launched in 2014. the original developer is still very much involved with the project, he simply faced the sorts of prejudice and homophobia on his original announcements that caused him to lock the threads. i will be administering the new [ANN] as we get closer to the relaunch, i simply want to have the services we are working on to be ready for a rebranding of the project beforehand.

together we are working on this rebranding, which will be live for September 2017. we have secured the rights to the gay.money and gay.foundation domains and will be running two websites, as this project truly has two arms - the cryptocurrency arm to assess unit value and real world integrations and a philanthropic arm which will use direct community involvement for LGBT+ advocacy and social awareness campaigns as well as HIV/AIDS research and funding towards womens shelters. this is what Mr. Lawin hopes to be a legacy, and reflects his experiences growing up behind the iron curtain of eastern europe during a period his sexual identity was considered a criminal offense. there will be a lot of movement in the next few months as Mr. Lawin, the lead developer, want to provide a legacy of charitable work for these communities for years to come. we have already begun reaching out to other LGBT philanthropic organizations to help with this project, but those remain very preliminary, and will be more concrete as the rebranding approaches.

we are working on securing the licensing for a GAYmoney centric exchange with fiat gateways and pairings to major cryptocurrencies. we will also be launching better.exchange which will host cryptocurrencies that have a social conscience. we are also in the process of registering GAYmoney LLC as a corporate entity and will providing a complete dedication to transparency in all aspects of the project. we are also in the process of attracting businesses within the LGBT community to accept GAYmoney as tender, presently focusing on the LGBT-owned or friendly b&b markets. i am becoming very active with the local LGBT communites in my region, because i have to have that sort of connection with the community to understand its needs.

i will be receiving a wage for my work on GAYmoney, on top of my developer's reserve and the hope is to turn the enterprise into a well-regulated industry serving the digital financial needs of a community that serves an approximate 7% of the global population, and is as diverse as any other market, with one common indentifying birthright which is a hugely unifying factor. i will aso be maintaining my work on my other project, which is completely unassociated with GAYmoney: SOILcoin.. which is an ETH clone launched in 2015 with a direction towards renewable energy applications as well as distributed scientific computing for climate prediction, precision farming dApps and overall environmental awareness. so, in a way yuir investing in ME as well with this sort of loan, but ive been working hard in the sphere of cryptocurrency for awhile and have very strong views about the necessary high standards developers and exchanges must operate under, and im in the game for the long haul. this is simply a screaming good deal on the home of my dreams, something to secure my family's future while i work on something which promises to create a whole lot of good in the world.

i apologize for the length of this post, but if you research my writing here on bitcointalk, this is generally the sort of writer that i am. i wanted to avoid brinigin GAYmoney up into the wholesale public conversatin, simply due to the reaction it gets from some people who have bias towards that community, so please, keep the conversation civil responding to this post, ok? i think that this sort of arrangement might be the start of an entire industry.. crypto-secured mortgages with the security of the blockchain. we're all about disrupting everything so lets disrupt the mortgage industry!

please send me a PM for more details or to begin negotiations. thank you for your time. im more than willing to put title to the house as part of the surety once the loan is secured, and am willing to discuss any sort of other requirements a lender, or group of lenders would require.

GAYmoney is worth .0002485 BTC presently (USD $0.62) which has been a fairly steady average rate over the last month.the volume is the issue which is why ive offered substantially higher percentage of escrowed value compared to purchase price (200-250% for a load paying out in BTC or 300% if paying out in GAYmoney) than what most loans ask for (120%) and this was done to help insulate against valuation loss for GAYmoney, because yes, while i have aspirations for working with this currency, im a realist and know the market can go any damn way it chooses. there is heavy development occuring and ive been around long enough to know that the sort of features we are adding will build volume and should hold valuation at the very least steady.

as for market cap (http://coinmarketcap.com/currencies/gaycoin/#BTC) provides a little information, and the block explorer shows toatl coin issuance. the 5 billion reserve that frightens so many people because of how scams have occurred in the past with currencies, has been sitting with full balance from the coin's genesis. (gLsrjEbo31wmXZQssAeGyrw4CwBZgxafev) he has built his own balance of his currency for himself, and the premined amount is set for slow philanthropic disbursement with direct community input, that premine is not something that could be dumped.

if one actually takes (coin supply*market price) into consideration, GAYmoney has a total market cap of (5603079598*0.62) or just under $3.5 billion dollars US (which puts it as #4 total market cap overall) or if one simply considers circulating currency (although XRP counts in the 60 billion in reserves that currency development holds onto presently towards its market cap) still presents a circulating cvalue of USD $374 million, which still positions GAYmoney in the #13 spot total market cap. so GAYmoney was value, it simply doesnt have the necessary volume presently, otherwise i wouldnt be looking for a mortgage. the volume can and will be built, which will only improve the positioning of GAYmoney, but the honest assessment of the currency, if you consider it valueless, you would have to also consider anything below it in market cap (LTC, DASH, ETC) to be valueless as well.

lack of volume doesnt equate lack of value. but thanks for looking and taking the time to reply.

you mean to offer the house that is purchased as further collateral? thats fine. if a lender wanted that as wurety beyond the payment process, that can be worked into the contract, and property information would naturally be provided. i go in to have a home inspection done on monday, the report of which would also be included.

and with the repayment schedule, its not using the balance of the posted collateral for each payment, its using the bi-weekly (or monthly) minted portion above the baseline collateral to make payment, without touching the originally set wallet balance (i.e. the 250,000 GAYcoins set in escrow would not be affected and the balance at the end of 60 months would remain at 250,000 GAY)

edited OP after advice from a user. thank you to all who take the time to read thru the whole OP. as you can see, this proposal is fairly well thought out and has a fair bit of negotiating room, so even if i can attract a few people to crowd-fund this, we could make history. ill provide information on the property and the house inspection to any potential investor.

responded via PM with more details. thank you for yuir interest.

Im looking for a bitcoin funded mortgage. Im asset-rich and fiat-poor, but have the opportunity to purchase a grand victorian home for about half of what it would cost to build. i am a long-time user of bitcointalk, and have ongoing development involvement with two separate active currencies over the last two years.

Essentially, I need to borrow between 40 and 45 BTC, with repayment scheduled over 5 years with a minimum 25% return. I have collateral in the form of a PoS altcoin GAYmoney (which features a 20% APR), and will be wiling to put 200-250% of the loan value in escrow, secured by multi-sig. i will present the lender with the option to take bi-weekly or monthly payments either in the minted currency from the escrowed wallet or to have those funds converted to BTC and used as direct payment against the principle.

eg:
GAYmoney average value over last 30 days: (USD $0.50)
current value via coinmarketcap: (USD $$0.620959)
escrowed wallet size: 250,000 units (assumable value @ $0.50: USD $152,500)
daily minting: ~125 units (assumable value @ $0.50: USD $62.50)
therefore, bi-weekly lender would receive either 1750 units of the escrowed altcoin, OR those would be sold on market for BTC, which is paid directly against the debt (average of $875 worth). monthly, this would equal 3750 units of the currency or sold for BTC to be paid directly against the debt ($1875 worth).

based on current prices, the principle would be paid down after approx 42 months (3.5 years) which would produce 18 months of pure interest delivered to the lender. as per standard mortgage practices, this interest would be applied foremost to the repayment plan, 95% interest to 5% principle until the assumable interest (approx 14 BTC) is covered. i would also offer a three month early payment penalty (2.33 BTC) should my other reserves of this altcoin generate enough money to effectively shorten the loan period, which is likely.

if the lender wishes, they can simply take the whole minited balance on a regular schedule, which will conclude the loan after 5 years. we can negotiate this timeframe as well, either a larger escrowed amount over a shorter time if necessary. (will escrow up to 300% the value of the loan over 5 years if lender wishes to take this route)

id be willing to take several smaller lenders coming together to fund this, which will produce proportional payments on the agreed-upon schedule, although all lenders would need to agree on one form of payment (in BTC or altcoin) at the outset of the loan.

at the conclusion of the loan, the escrowed balance of currency will be returned to my sole control. there is risk in this sort of loan, what if bitcoin tanks? what if my altcoin fulfills its plan for the coming months and reaches USD $1 parity or more? there is possibility of great reward, but i will do my best to mitigate any liklihood of loss, and should the altcoin escrowed fall in value below a certain threshold, i will top up the escrowed amount to compensate. this option may be visited once every 6 months.

conversely, i would be willing to sell this altcoin outright, at between 66-75% its current market value, depending on the offer. (ie: 40 BTC for ~300,000 units of currency based on an aggregate USD $0.33 unit cost, we can negotiate this)

for the sake of transparency, i am involved with the current development of GAYmoney, so these funds are simply a portion of my developer's reserve. this currency has been somewhat under-the-radar since it was launched in 2014. the original developer is still very much involved with the project, he simply faced the sorts of prejudice and homophobia on his original announcements that caused him to lock the threads. i will be administering the new [ANN] as we get closer to the relaunch, i simply want to have the services we are working on to be ready for a rebranding of the project beforehand.

together we are working on this rebrnading, which will be live for September 2017. we have secured the rights to the gay.money and gay.foundation domains and will be running two websites, as this project truly has two arms - the cryptocurrency arm to assess unit value and real world integrations and a philanthropic arm which will use direct community involvement for LGBT+ advocacy and social awareness campaigns as well as HIV/AIDS research and funding towards womens shelters. this is what Mr. Lawin hopes to be a legacy, and reflects his experiences growing up behind the iron curtain of eastern europe during a period his sexual identity was considered a criminal offense. there will be a lot of movement in the next few months as Mr. Lawin, the lead developer, want to provide a legacy of charitable work for these communities for years to come. we have already begun reaching out to other LGBT philanthropic organizations to help with this project, but those remain very preliminary, and will be more concrete as the rebranding approaches.

we are working on securing the licensing for a GAYmoney centric exchange with fiat gateways and pairings to major cryptocurrencies. we will also be launching better.exchange which will host cryptocurrencies that have a social conscience. we are also in the process of registering GAYmoney LLC as a corporate entity and will providing a complete dedication to transparency in all aspects of the project. we are also in the process of attracting businesses within the LGBT community to accept GAYmoney as tender, presently focusing on the LGBT-owned or friendly b&b markets. i am becoming very active with the local LGBT communites in my region, because i have to have that sort of connection with the community to understand its needs.

i will be receiving a wage for my work on GAYmoney, on top of my developer's reserve and the hope is to turn the enterprise into a well-regulated industry serving the digital financial needs of a community that serves an approximate 7% of the global population, and is as diverse as any other market, with one common indentifying birthright which is a hugely unifying factor. i will aso be maintaining my work on my other project, which is completely unassociated with GAYmoney: SOILcoin.. which is an ETH clone launched in 2015 with a direction towards renewable energy applications as well as distributed scientific computing for climate prediction, precision farming dApps and overall environmental awareness. so, in a way yuir investing in ME as well with this sort of loan, but ive been working hard in the sphere of cryptocurrency for awhile and have very strong views about the necessary high standards developers and exchanges must operate under, and im in the game for the long haul. this is simply a screaming good deal on the home of my dreams, something to secure my family's future while i work on something which promises to create a whole lot of good in the world.

i apologize for the length of this post, but if you research my writing here on bitcointalk, this is generally the sort of writer that i am. i wanted to avoid brinigin GAYmoney up into the wholesale public conversatin, simply due to the reaction it gets from some people who have bias towards that community, so please, keep the conversation civil responding to this post, ok? i think that this sort of arrangement might be the start of an entire industry.. crypto-secured mortgages with the security of the blockchain. we're all about disrupting everything so lets disrupt the mortgage industry!

please send me a PM for more details or to begin negotiations. thank you for your time.

minting is going well. the 1000 421coin that i receivedminted great, and the faucet hits ive received are looking soon to hit indivisuallly. still a great little project. keeping my node open.

ive been dealing with my own issues with poswallet.com for a few weeks, aside from the issue im embroiled with against them presently (see this thread: ( https://bitcointalk.org/index.php?topic=1936045 ). i made a withdrawl of 23,000 GPU to my desktop wallet something id done many times before, simply adding to my stake in that currency thru purchases, but it presented no transaction id. when i posted a question to support, it took two weeks to get a response, at which point they supposedly send me the currency, but not to any GPU wallet i own or ever referred to. support became increasingly impossible to work with past this point. i also had 215,000 MONEY simply disappear from my wallet. no transaction history to show where it went, they simply stopped existing. support assured me that "currency does not just go missing" even though it JUST HAD.

Colin Blakely, the registrant of POSW Holdings LLC in North Carolina will wind up being the one person held ultimately responsible for the losses experienced by users of this exchange, his desire for anonymity not protecting him in this instance. the issue regarding the GAYmoney wallet balance likely stolen by this exchange has been forwarded to the NC Secretary of State, Elaine F. Marshall, and to FinSEC thru the US Department of Treasury, for investigation as POSW Holdings LLC is registered in that state and beholden to its legislations. I strongly urge others who have experienced financial losses thru mismanagement or theft at poswallet to also contact the appropriate authorities regarding these incidents of financial irregularity perpetuated by poswallet.com and let boosters like sdotdot go down with the sinking ship.

.

again, its not the value per se as the actual incident itself, the casual disregard to security and other people fundss that is the biggest concern.  yes, presently the assumable value of the coins in the wallet held by poswallet represents an incredible sized loss, but that size of loss is treated as any other stock fraud investigation. even 40BTC return against that loss would be a start for Mr. Lawin, but presently, he's sitting with a loss-value that equals what it does, as simple as that, regardless of market depth.

if you review the threads the GAYcoin developer presented upon launch, he was clear that he had future plans, but was met even then with prejudice and bigotry in the same vein as you present here. he abandoned trying to market the project to the cryptocurrency community, but maintained developing it, making sure it had market representation, purchasing domain names and making plans to rebuild the project for awhile. you may not understand the need for a cryptocurrency with a social consciousness, but with your derogatory remarks, i cant see how explaining it to you would do any good. you seem hyper-focused on the nature of the currency and not the act of fraud. you are almost CHEERING for the act itself, presented through your enmity.

its rather incredulous to state that poswallets actions to delist the majority of altcoins they supported can be traced to the fact they got caught with their hands in the cookie jar performing very unconventional and likely criminal actions behind the scenes. forensically, theres little other explanation other than the funds that have gone missing from Mr. Lawin;s wallet (and others who have complained regarding suddenly missing funds from the exchange, in various other currencies) other than it was done from within inside the exchange itself.

i understand you may have a bias against the LGBT community, for whatever reason, and are letting that completely colour your reaction, but this is not the sort of forum in which such  language of discrimination is appreciated as a general rule. go troll the politics and society section with your neanderthalic logic if you need to vent in that sort of way, but try to keep your comments civil here, if you dont mind. ANYONE'S SEXUAL ORIENTATION has ZERO RELEVANCE to this conversation. for what its worth, im what my wife calls "meat and potatoes straight", but my orientation has nothing to do with why i have come to work with the GAYmoney developer, and isnt something that has ever come up in conversation between myself and him. but i admit to being a liberal minded individual, who as a half-breed Indian faced prejudice of my own growing up, so i appreciate any project that battles racism or sexism or any -ism that seeks to set one individual above another by virtue of some condition. im a hyper-equalist, and thats why im even wasting my time replying to you in the first place...

you have your valid counter-points to the situation, but remain focusing on the currency's social stance rather than looking at the situation from a broader perspective. the politics of the currency have absolutely nothing to do with the nature of the situation at hand. what if this had been a 2.4 mln unit wallet of HONEY, or BLK, or MUE, or any OTHER currency? that being said, i do welcome your contribution to this discussion, BUT....

if you cannot keep your conversation civil and not resort to denigrating homophobic slurs in order to make yourself feel special, you can also choose not to reply to this thread altogether and not make a bigger tool out of yourself than you already have with your comments. i support the freedom of discourse, and this discussion, which is truly about the perils of anonymous centralized exchanges and the safety of your deposited assets in such an ecosystem, id be more than willing to continue discussing this with you, but if you feel your only contribution is to speak in slanderous tones then theres absolutely no reason to continue communicating with you.

this is not about "turning shit into gold" this is about ensuring that exchange operators become accountable for their responsibilities with other peoples assets. GAYmoney is moving forward with our rebranding regardless of this situation, and we will monitor the wallet to catch any future movement of funds from that account, but presently musts consider the funds burned without present compensation. the bigger picture will involve responding to North Carolina's FinSEC offices and the representatives of that states SecState regarding the situation, and MAYBE it will lead, alongside other issues, to spur proper legislation be enacted, that proper regulations be enforced, that there be clear cut registration and rules for cryptocurrency exchanges.

exactly.

the sad thing is that the sort of service poswallet.com has provided.... community aggregate staking... is something that the cryptocurrency community NEEDS. but a service like that has to also be held to the highest standards, there has to be a shunning of "anonymous developers" both in the currency but also in the exchange ecosystems. regulation has to be brought in to protect any other client from having funds manipulated by exchange staff in this way with no recourse, no matter the client, no matter the currency, no matter the exchange.

the very thing holding crypto back from absolute integration are incidents like this... the lack of regulation that holds cryptocurrency from being viewed as a legitimate form of value transfer, an equalization between stocks and crypto in terms of regulation and protection.. and sure, thats a long way away, bureaucracy moves slowly and this industry is expanding exponentially in every direction... but events such as this have to be kept in the thread of discussions if nothing more than as a warning against trusting any centralized service to control the private keys to your funds.

There are methods of retrieving ones funds thru the courts, which must be investigated and acted upon. I am a firm believer in the future of cryptocurrency, I see a thousand ways every day that greater efficiency can be achieved using blockchain technology, and I believe we truly are on the the threshold of a revolution in global wealth generation. I have no stake in George's funds, other than the desire to ensure that his funds are returned to him because it is not just the right thing to do, but because it is the legal responsibility of POSW Holdings to do so. I have a stake in how exchanges operate in the future becuase i am a developer who has to deal with these exchanges and hope that they treat my community base with fairness and hold an imperitiveness towards the security of their funds theyve invested in my project and held on their exchange; I am also a cryptocurrency trader who has to put trust in these exchanges when i am beginning to invest in a currency and hold it on their platform.

I will continue to work thru whatever channels available to help Mr. Lawin retrieve his funds, and to help other clients avoid this sort of thing happening to their assets in the future.

recursivity of the blockchain is not a concept that GAYmoney embraces. the importance of the blockchain is that transaction history in inviolate, a ledger that cannot be altered. thats the sales pitch behind the blockchain, the most elementary reason why cryptocurrency has value.

this isnt an issue where GAYmoney should be placed in a position to put itself into a situation similar to Ethereum last year: the perpetrator of the theft here is known and nameable. forking GAYcoin to fix an issue caused by external failures and wrongdoings is not the answer. holding Colin Blakely and the executives of POSW Holdings LLC responsible and accountable is whats necessary. this is an exchange that remains in business, remains accepting deposits of other peoples assets. they have the chance to correct this problem, regain public trust from not only THIS issue but the numerous other complaints that have been surfacing.

 im not advocating the end of poswallet.com, it serves a wonderful purpose, an online pooled-staking community is a needed aspect to help introduce people to cryptocurrency, and the variety of projects that exist. i discovered a lot of currencies on poswallet.com that i wouldve otherwise ignored, ones that i remain invested in on my desktop wallets. i think the public should be cautious and only hold small amounts of currency at poswallet.com for the purpose of staking, and with their current plan to delist the majority of currencies they supported, i fear theyve set course against the cryptocurrency developer community that will resonate for a long time. and thats very unfortunate. i *DO* hope that they can fix this problem, return the value of funds they have "lost' or "misplaced" due to their inexperience, and move on from this.

the funds on that address are now purportedly unaccessible, if one believes POSW Holdings' assertion that the wallet is an off-exchange address to which they do not possess the private key to. in which case, the balance could be considered "BURNED". but that again requires trust that Mr. Blakely is telling the truth regarding this. trust is a thing earned, and when broken, cannot be expected to be given again so casually. even in that case, Mr. Lawin is now at a loss due to his funds mismanagement at poswallet.com, and Mr. Blakely is, according to North Carolina legislation governing Limited Liability Companies, exactly where the buck stops in regards to who ultimately is responsible to compensate Mr. Lawin for the value of his losses.