Δ DeltaCredits - Trade-in ends in less than 24 hours

Quote from: Gladimor on August 18, 2015, 12:03:54 AM

The Delta Credit is the new standard of a digital currency with a decreasing coin supply. How can a cryptocurrency be deflationary in terms of supply? This is accomplished by
buying coins from the market and in turn destroying them by sending them to a verifiably un-spendable coin address- all accomplished by the developers.

The supply of DeltaCredits decreases at no penalty to balance holders. Coins that are burned are originally bought from an exchange, by an SRF. Wait and watch as your position increases in value, because the asset you hold becomes more and more scarce.

The buy-back fund will be funded by various physical and cloud mining contracts, dispensed by reputable and trustworthy registered businesses. Mining revenue will in turn be used
to buy back Delta Credits off of a crypto currency exchange and accordingly destroyed- viewable publicly and transparently on the blockchain- on a daily basis.
Delta Credits will kick off with an inital coin offering (ICO) and a full premine of the coin supply, which will be just 100,000 units. But here is the catch- the ICO price will be set by the
buyer.

The initial value of each Delta Credit will be set by how much BTC is raised in the initial offering. For example, if 10 BTC is raised, the value per Delta Credit will be 0.0001 BTC (divide the amount of BTC raised by 100,000).

What will the ICO funds be used for? Primarily, the funds will be vested in reputable, well known, and established cloud mining businesses with a long history of legitimate business.
BitMain’s HashNest could be an example of such. Every day, mining revenue will be transferred to an exchange and in turn be used to buy the sum of Delta Credits off of the market.
In turn, the credits will be burned, effectively taking them out of circulation, and lowering the coin supply. In addition, a small portion of the ICO will be used to pay for extensive marketing and other fees.

How long will it take for the entire coin supply to be destroyed? It is nearly impossible to destroy every Delta Credit in existence. For one, investors may choose to hold onto their position
instead of list it on the market. Second, as Delta Credits become more and more scarce, the value per coin will begin to appreciate, effectively making it more expensive to destroy coins.

A more simple explanation can be found here:

https://bitcointalk.org/index.php?topic=1155319.msg12193714#msg12193714

Another in-depth explanation can be found here:

https://bitcointalk.org/index.php?topic=1155319.msg12220532#msg12220532

Being a virtual asset with a rapidly decreasing supply, Delta Credits will technically be the platinum of cryptocurrency. If the value of a Delta Credit remains at a constant ICO price
throughout a general period of 4 months, by the time we hit the 5th month, every single coin will have been purchased and burned by the developers. Here is a graph to give you a general idea.

Amount purchased per day will be based on the following 2 factors: price of the coin and cloud mining revenue generated on that day.
Also note that the linear graph represents a line of best fit.

In short the value per credit will naturally increase, or else every available coin on the market will be purchased and burned. This coin by all means is something completely new and strategies employed here haven’t been successfully accomplished by other currencies.

How long will the buy-back fund run for? The buy-back fund will be managed and run for as long as Delta Credits still exists in circulation, which seems, with all odds, forever. There will be some days in the year where the developer is absent due to being on a holiday, which will be compensated for by accumulating all missed days’ worth of BTC and buying with the full missed sum on the next day.

How is the Supply Reduction Fund (SRF) different from a multipool? A multipool’s hashrate is managed by its population of miners. That means that if there are no miners on the multipool, then there are no coins bought off the market. In addition, coins bought off the market by the multipool are handed to the miners, NOT destroyed. Delta Credits utilizes cloud hashing, and the developers burns/destroys the coins that are bought off the market.

Delta Credits allow investors to increase the value of their position NOT by means of the coin’s inflation or P&D, but by means of growing scarcity.

General Specifications
- 100,000 coin supply
- 1% PoS per annum, full PoS
- 100% Pre-mine, no PoW period
- ICO, price set by buyers
- 60 second block times
- 8 hours min. age to start staking
- 1 month max age
- Supply Reduction Fund will operate with an approx. 0.5% - 1.2% of coin supply bought from market and burned each day, based off of a constant ICO value.

Wallets

Note: You MUST create a deltacredits.conf file with the following information:

Code:

addnode=158.69.159.45

Exchanges

Block explorer:

http://cryptobe.com/chain/DeltaCredits

ICO ended on August 24, 8 PM EST.

Link to burn address: http://cryptobe.com/address/DBurnAddressDELTACreditsDCR1MHEkpR
Amount of DCR burned to date: 8322.12305107

ICO ended on August 24, 8 PM EST.

Amount of BTC raised: 9.78316657 BTC
Price per DCR: 0.00009783 BTC
100,000 Coin supply, steadily decreasing.

Slack channel: deltacredits.slack.com
If you would like an invitation to join the discussion, please message me with your email.

Delta Credits was once an idea. Now it is a reality.

Wallets will be available at the end of the ICO (August 24). Unmoderated thread for the freedom of opinion and ideology. We feel that everyone's words are valued, criticism and support alike. Please refrain from posting off-topic posts or general troll/FUD posts, for the good of this discussion thread.

Signed,
Adam T., Project leader of DeltaCredits

SRF Donation Address:

1LFkpqEHSt42TKLAuq4RzY8jbdbQubcEbu

Developmental Donation Address:
BTC: 1Av9zGFyzECMpZ4gGXWrTXuTYuPgUNwpw1
DCR: DUNWYX7HNgQow2yXEEt1LnJERhR72qtet1

Letter to the community:

Congratulations, the ICO has closed with 9.78316657 BTC raised and 27 unique investors.

What does this valuation in ICO funds signify? It signifies a major community interest in the DeltaCredits currency and project. As ICO investors, we are all supporting a new idea, a new stratagem, a new project that has never been brought before the world before. And it is my pleasure to be the leader of this very project. Together, we'll bring DeltaCredits to the marketcap valuation and success other major projects have seen. It all begins here folks. It all begins now.

Godspeed,
Adam T.
Lead Developer and Project Leader, DeltaCredits

https://bitcointalk.org/index.php?topic=1290358.0
^look these assclowns stole the DELTACREDITS symbol? ~~~ not legit imo

*DeltaCredits coin came out wayyy before Decred right? !!! =) looks like classic piracy !!!

===> reminds me of the PAYCOIN heist!!! hmmm