[ANN] [CLC] CoiLedCoin: sorry but CLC is NOT dead, and IS trading...

[markm]

CLC (CoiLedCoin) dates back to before there even WAS an announce section I suspect, as its only thread I could find is in the discussion section and long ago had its title changed to claim, incorrectly, that it was dead:

https://bitcointalk.org/index.php?topic=56675.0

It is NOT dead though, and in fact it is trading on the HORIZON and Stellar platforms.

For CLC on the HORIZON platform see http://makemoney.knotwork.com/horizon/assets/hzclc/

CLC/XLM and CLC/DVC are set up on the Stellar platform:

For CLC on the Stellar platform see http://makemoney.knotwork.com/stellar/clc/ ( Explorer: https://stellar.expert/explorer/public/asset/CLC-GBHAQ252S4Z4AQOM4BWIRC3UHAOJIKCZQBUJGD336YH2O7W2NKRXMHA5 )

For DVC on the Stellar platform see http://makemoney.knotwork.com/stellar/dvc/ ( Explorer: https://stellar.expert/explorer/public/asset/DVC-GBHAQ252S4Z4AQOM4BWIRC3UHAOJIKCZQBUJGD336YH2O7W2NKRXMHA5 )

-MarkM-

[sorryforthat]

I am not very familiar with Stellar. I have mined some CLC and as of right now am merge mining. I am using command line wallet, but last time I opened the GUI wallet it did show the block confirmation pretty high. How does the selling work on Stellar with CLC block confirmations being as high as they are. Is it a token backed by a reserve balance of CLC?

[markm]

Yes, exactly.

My approach has always been to issue my tokens well in advance, not creating and destroying them on-demand as people bail-in and bail-out coins; rather, I take only half of my coins to issue tokens for, so that I can use the other half of my coins to buy back the tokens, so that I do not need to worry about how hard it might be, and how long it might take, to dig back up the coins represented by the tokens; instead I have enough coins still on hand to redeem the tokens.

That way I can get as creative as I like with stashing away the coins I tokenised, in theory I could break up keys into many-of-many parts to split up among safe-deposit boxes located on multiple continents and not have to be converned that getting all those partial keys back from all those continents and re-assembling them to get at the "frozen" coins could take months or years, since I only "freeze" half of my coins.

It is also a simulation of having third-party bail-in and bail-out services, it lets the "custody" aka "freezing" and token-issuing department be logically separate from the bail-in / bail-out function.

It also basically amounts to a "200% reserve" policy as contrasted with "fractional reserve".

Its downside is that if you wanted to "bail in" more actual coins than I have actual tokens laying around handy to issue to you for those actual coins you would need to buy something from me with half the coins so that I can issue new tokens representing only half of them, retaining the other half handy for buying back the tokens with, so that I can "freeze" the half I issue new tokens representing without worrying about ever needing to "unfreeze" them rapidly or maybe even ever at all.

(Maybe generations down the line my heirs-and-assigns might decide to shut down support of a particular coin or all coins thus have a need to go dig up all those "frozen" coins but in the meantime as long as a particular coin is still to be worked with its frozen coins represented by tokens might never need to be dug up.)

-MarkM-