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Author Topic: [ANN] GAYMoney - X11 - 20%APR PoS - LGBTQ CRYPTOCURRENCY  (Read 2301 times)
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August 07, 2017, 08:44:30 PM
 #1

[ANN] GAY Money - X11 - 20%APR PoS - CORPORATE SECURED CRYPTO-EQUITY FOR THE LGBTQ COMMUNITY


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)
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August 07, 2017, 09:48:29 PM
 #2

In what period are added landing? Good luck with your project.

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August 08, 2017, 07:08:09 AM
 #3

Do you have an explorer out yet? I'd be keen to be able to see how many coins are in circulation, rich list and of course what difficulty and rewards one can expect.
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August 08, 2017, 07:31:31 AM
 #4

i have a question. Block without transactions 50mb too or its less then 50mb?
i think 50mb every minute its pretty crazy and your GayMoney wanna fuck my Drive C:\\

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August 08, 2017, 07:33:55 AM
 #5

Reserving Finnish translation / proofreading if needed and bounty offered.

Please get in touch with me, and good luck with your project!

        S P 8 D E        ♠       THE GAME OF CHANCE. CHANGED.       ♠         READ WHITEPAPER       
    TOKENS        A DECENTRALIZED PLATFORM FOR GAMING DAPPS        ROADMAP   
ANN THREAD       FACEBOOK       TWITTER       TELEGRAM       YOUTUBE       MEDIUM       REDDIT
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August 08, 2017, 07:58:44 AM
 #6

total suply is big 10 billion coin
with premine 2 billion coin, plan open bounty or not dev, with premine is big i think is good if open bounty or airdroop

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August 09, 2017, 01:10:37 PM
 #7

Do you have an explorer out yet? I'd be keen to be able to see how many coins are in circulation, rich list and of course what difficulty and rewards one can expect.

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:

Code:
"enabled" : true,
"staking" : true,
"errors" : "",
"currentblocksize" : 1000,
"currentblocktx" : 0,
"pooledtx" : 0,
"difficulty" : 6.40121119,
"search-interval" : 2,
"weight" : 5519051,
"netstakeweight" : 341444090,
"expectedtime" : 3711

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.)

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August 09, 2017, 02:07:21 PM
 #8

i have a question. Block without transactions 50mb too or its less then 50mb?
i think 50mb every minute its pretty crazy and your GayMoney wanna fuck my Drive C:\\

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.
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August 09, 2017, 02:44:13 PM
 #9

Block Explorer - gay.steeppool.com
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August 09, 2017, 04:13:18 PM
 #10

total suply is big 10 billion coin
with premine 2 billion coin, plan open bounty or not dev, with premine is big i think is good if open bounty or airdroop

MAXIMUM supply will be 10 billion coins. Half of those coins are intended for simple circulation.

The other half were premined and set into the non-staking Foundation wallet, which has the address: gLsrjEbo31wmXZQssAeGyrw4CwBZgxafev.

These coins are intended for use as a self-sustaining, slow release philanthropic fund that will provide the charitable arm of this project. The decision making towards release of these funds to specific charities, or individuals, will part of the public process achieved thru incorporation and leveraging votes based upon signed transactions and verified threshold of stake. Because we will be tying our forthcoming GAY-Exchange fiat gateway and our GAY Money base market better.exchange into our corporate identity, we will incentivize ownership and possession of GAY Money thru proportional profit sharing of profits generated thru GAY Money managed and related platforms (thru fees, advertising, etc). We will allow for a characterization of Share Classes to reflect individual investments into the project.

We have not set the balance thresholds for Share Classes thru incorporation in stone as of yet, as we are still finalizing the Articles of Incorporation. We want to ensure that a reward structure exists that allows those who invest in the project, who contribute to its operation, have not only the right to vote on how the endowments from the Foundation wallet will be spent but to receive a portion of the profits - in GAY Money - over and above the 20% APR generated thru staking, generated by the further advancements we make in the system, the fiat-gateway and exchange being simply the current most important item on the agenda.

I should further state that the bounties and stipends related to GAY Money campaigns will not be paid out of the Foundation wallet. Over the years, the project lead, George Lawin, has worked with the project, ensuring its presence on the exchange, and has performed many small "buy-back" campaigns. Funds for investing in LGBTQ related businesses, as well as operational costs associated with running the GAY Money blockchain will be processed thru these acquired developer reserves. GAY Money has never had an ICO to raise funds for operation, but we feel we have also created a self-financing system to reward its proponents.

The current FULLY CIRCULATING supply of GAY Money is a little over 618.3 mln GAY, although a high proportion of that remains in developers reserves. George has possession of a large proportion of those funds, which will be used to fund the project. I, myself, have a developer's reserve of a little over 1 mln GAY, and as part of our corporate structuring ideal, it will not be permitted to fall below that threshold while I am employed as a member of the Board of Directors.

Overall, although coinmarketcap.com doesnt protray the total weight of the GAY Money network properly on the main page, you can see the total currency value at https://coinmarketcap.com/currencies/views/market-cap-by-total-supply/ which shows GAY Money, as a project, currently maintains the #23 spot OVERALL for market capitalization.


We will have plenty of bounties, and have already had several as we geared up for the rebranding and reinvigoration of the project.

GAY Money was a sponsor of one of the participants during the Utrecht Canal Pride Parade (http://www.utrechtcanalpride.nl/) who used the opportunity to hand out GAY Money paper wallets to festival-goers. Cafe Flater (https://www.facebook.com/Cafe-Flater-183518494996338/)began accepting these paper wallets as payment during the estival, and I have had a few ongoing conversations with the bar owner regarding continued use.

We were also presented a tipping bot slot by Cryptopia during Pride Month, and presented a generous unannounced bounty to those who liked and commented on Cryptopia's announcement regarding honouring GAY Money for Pride Month.

More bounties will become available, and generally on a measured basis. We will post separate threads in the appropriate sections when these come up, and present a link on the OP to those threads along with a general announcement. Ive studied the bounty programs of many cryptocurrency projects along the way, and we will have bounties set for Twitter and Facebook campaigns, for sig and avatar campaigns, banner design campaigns, et cetera. All of those opportunities are important in building a vibrant cryptocurrency community, and we will have our first bounty campaign in the very near future.


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August 09, 2017, 07:04:14 PM
 #11

Reserving Finnish translation / proofreading if needed and bounty offered.

Please get in touch with me, and good luck with your project!

sending you a PM.

as with most projects, translations are important to reach the different corners of the.... cryptoverse?... and as the market this project was built to serve is truly a worldwide market, i encourage people to translate the OP for this project as far and wide as possible. we will offer 200 GAY for the translations, and will negotiate with those who wish to continue the service for major announcements, newsletter articles, et cetera.

some simple rules need to be established. reserving a translation will be on a first come-first serve basis and i will update the OP as often as i can to reflect changes in status and links to those translated threads. please dont provide translations done simple thru Google Translator or similar services. We will send the bounty after we verify the translation. Please make the translation clear and easy to read, and please respect the thread design of the [ANN].

I want to truly encourage an involved community on this side of the business equation, and hope that some of those that offer translations will also become involved as regional representatives for GAY Money as we move forward.
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August 22, 2017, 01:56:28 PM
 #12

updated OP with our block explorer address, explorer.gay.money
we would like to thank the folks at https://thecryptochat.net/ for hosting it, and we hope to have a GAY Money faucet available there soon as well. We are in the queue.

ive also started work on our exchange platform. we will be going with the peatio open-source exchange platform, as used by https://yunbi.com/ as our basic staging, and will be including as many direct ForEx markets as possible along with a GAY/BTC pairing. The overarching plan for the exchange is to build integration for other altcoin projects that espouse a moral and social conscience, and while Ive begun speaking with several other cryptocurrency developers about bringing their project onboard for the end of this year, if you have any sugestions for currencies, even ones that might be languish in the necronomnicon thread, that fit the bill with an principled outlook, send me a PM and i will do my best to have them included as well.
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August 22, 2017, 02:13:48 PM
 #13

there is a bootstrap file?

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August 23, 2017, 12:25:24 AM
 #14

there is a bootstrap file?

ive uploaded the GAY Money bootstrap.dat  (up to date ~1800hrs AST 2017-08-22)
ive put it temporarily here -> https://ufile.io/8s27d

along with the exchange we are building, we will be setting up a sort of yellow pages directory for businesses utilizing GAY Money to be listed. ive got a sort of placeholder landing page set up at https://gaymoney.market/. ive got the template for a business directory set-up and will be tweaking it as i can before we have the exchange up. im also looking into a user-based GAY Money marketplace available onsite, but havent really glommed on to anything quite yet.

updated OP with links.

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August 23, 2017, 12:29:21 AM
 #15

No mining  no party, Is very old coindead  https://bitcointalk.org/index.php?topic=1616928  Wink
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August 24, 2017, 11:06:44 AM
 #16

No mining  no party,

like other cryptocurrencies that have moved from a hybrid PoW/PoS protocol towards pure Proof of Stake, minting is accomplished thru the balance one holds in an active desktop wallet. As the header states, with GAY Money this averages out to 20% interest per year. There are a thousand arguments FOR and an equal number of arguments AGAINST pure PoS protocol currencies, but "crypto-history" shows that many of the projects launched in a similar era as GAY Money (2014) are still very much active, many firmly in the Top 100 market capitalizations.

Because we use a deterministic (pseudo-random) selection of next-block minters, based on accumulated coin-age (which resets the staked coin's age to zero when a block is forged), it encourages investors to hold and stake, even given the relatively short minimum coin-age requirement. This also encourages us, the developers, to work to provide utility for the currency beyond the simple trading pairs avaialable, to incentivize people to buy and hold the currency, while providing increased opportunity to spend it at retailers and artisans that are a art of, or support, the LGBT community.

I am testing out "first block minted" time considerations for wallets according to a number of balance thresholds presently and will present those findings when i have something concrete.  

There is a great deal of security available with this sort of protocol, as a 51% attack would require that amount of extant staking coins be purchased by the attacker, which would result in far too rapid market appreciation to make such an attack cost-effective. To disrupt and destroy the GAY Money blockchain would cost more than it takes to honestly use and maintain. Further, PoS eliminates much of the prohibitive overhead costs related to PoW blockchains: electricity costs, cost and return on mining hardware, equipment depreciation.


Quote
Is very old coindead  https://bitcointalk.org/index.php?topic=1616928  Wink

That was a previous [ANN], and the responses by some of the crypto community on that thread illustrate the reason why it was locked within a few weeks. We have now begun to build the development team in an organized manner, setting up projects to increase the visibility and UTILITY of the currency. Because this is, visibly, a community oriented coin, we will be building towards as inclusive and diverse a marketplace for users to spend their GAY Money, and support the larger global LGBT rights movement at the same time.

It's all about seeing cryptocurrency as a force for change, not only as a financial tool but as a means of societal change. A thosand times cryptocurrency has been promoted as a "revolution", meant to disrupt. We believe that GAY Money can be a vehicle for this revolution in the LGBT community, and that by building a trusted and recognizable brand, we can begin to promote tolerance and acceptance, we can begin to help to bring about a more accepting society. Cryptocurrency is about breaking down borders, and in a way, building a global economy not tethered to the whims of the financial elite. GAY Money is about building a community for the LGBT community, to connect it globaly in a way not done before, to create a financial system that serves TEN PERCENT of the global population.

This coin is not dead. We have barely begun.




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August 24, 2017, 12:31:19 PM
 #17

Its good to see how currencies evolve with time and find their usage in real world. This era is definitely not limited to Dollars or Pounds or Euros, Crypto currencies are changing the face of this world. Many a times the projects are dumped/gets into stagnant mode because there isn't any active developer/community. I have also seen instances where the project was dormant and the community picked it up and change the whole face of it. Whatever be the case, I am happy this coin is back with some change and the POS return does seem reasonable.

One last question, do you all plan to implement Masternodes in your network?

Have a pleasant day.

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August 24, 2017, 12:48:49 PM
 #18

The total supply is quite a lot, is there any airdrop for this project? I am very interested in the concept, unique, I will continue to see the progress of this project and wait for more information about bounty, good luck

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August 28, 2017, 09:15:44 PM
 #19

Its good to see how currencies evolve with time and find their usage in real world. This era is definitely not limited to Dollars or Pounds or Euros, Crypto currencies are changing the face of this world. Many a times the projects are dumped/gets into stagnant mode because there isn't any active developer/community. I have also seen instances where the project was dormant and the community picked it up and change the whole face of it. Whatever be the case, I am happy this coin is back with some change and the POS return does seem reasonable.

The cryptocurrency ecosystem has changed drastically since 2014, when GAY Money was originally launched. Bitcoin is going mainstream, market integrations are easier to bring into play, regulatory frameworks are being established, the definition of asset classes is being permanently disrupted and blockchain technology has the sense of inevitability and ubiquitous involvement in our lives going forward.

Im a self-confessed cryptocurrency evangelist, and believe truly in its promise of wealth decentralization. GAY Money is one of those projects, with a global market to serve, that can truly take advantage of this moment in time to position itself with the types of services a cryptocurrency project MUST provide to remain relevant. Our goals presently are to build out our branded exchange and our marketplace. Both of these projects will build utility for the currency.

gaymoney.market will feature an LGBT directory, with a focus towards companies that participate in the GAY Money economy, and a marketplace for users to sell goods and services for GAY Money. I believe very strongly in the "Think Globally, Act Locally" philosophy and have secured deep interest here on Cape Breton Island, Nova Scotia with LGBT-businesspeople, and have a good half-dozen establishments prepared to begin accepting GAY Money - a tourist knick-knack shop near the cruise ship pavilion, a bakery, a coffee shop, a nightclub, an automotive-wrapping service and a bed-and-breakfast. Further LGBT businesses in Halifax have expressed enthusiasm towards the project. We have several other companies internationally that are curious to being participation, including an up-and-coming gay travel web service.

I attempt to email a copy of our "media page" and a short intro to the project to at least 25 relevant businesses every day as I work on other aspects of this project. We have a LOT of developments planned into the future, and want to truly build a community tying together cryptocurrency and LGBT causes.

The associated marketplace will allow artisans and craftspeople to sell their goods directly through the website, with dynamic exchange rates available. We are investigating adding GAY Money ATM cards to our services as well. Our fiat-exchange will allow for direct purchase of GAY Money in as many as a dozen foreign currencies and we plan on setting the standard with our altcoin exchange, being very connected to the developers and the communities of altcoins we host. I would also, very much, like to set up a pooled staking webwallet for users who wish to participate in that sort of endeavor.

Our further mission is to make GAY Money simple to access and easy to use for everyone, especially those who aren’t experienced in the world of cryptocurrency. Anybody should be able to setup a GAY wallet, and purchases made from websites and bricks-and-mortar businesses should be as easy to achieve with GAY Money as it is with fiat currencies, for both merchant and consumer.

We are truly on the threshold of cryptocurrency outpacing other payment forms, and as our world becomes more and more hyper-connected, positioning ourselves as the brand representing the LGBT community will cement our seat in the Top 25 market capitalizations. GAY Money must become something more than a simple vehicle for speculation.

Quote
One last question, do you all plan to implement Masternodes in your network?

The idea of associated masternodes has become a very popular development for cryptocurrencies and ensures both blockchain security and uptime but allows for an ease of governance to be achieved. Having our protocols based on X11, popularized by DASH, we have the framework to work with masternodes, and have been thinking about some form of similar formation alongside our move towards incorporation of this project as the GAY Foundation, Ltd. in the UK. There are definitely many advantages to the use of masternodes, and to the sorts of services dedicated nodes such as that could perform.

By tying in single whole units of GAY Money into the fundamental shareholders' rights and protections of single units of stock, we can assign classes of shares into equity, preference and executive categories, with simple Class conversion achieved thru verified balance thresholds. To keep things simple, we will employ the "alphabet shares" scheme with Class A, B, and C shares. Cryptocurrency, at its core, is a form of equity ownership in a project, much the same as any common stock, differing mostly by its free transferability.

As essentially described for our articles of association, Class C shares represent common stock in the GAY Foundation, and carry no voting-rights and no dividends. They maintain, as every unit of GAY Money, a natural 20% APR on balances that are held in active wallets. Class B shares, reached at a predetermined threshold balance of GAY Money, verified thru signed transaction, will becoming prefered shares, and will present the rights to vote on protocol enhancement, promotion and Foundation philanthropic implementations, and to further receive a proportional dividend of 50% of the profits generated by Foundation run services thru transaction fees, advertising revenue, etc. Class A shares would be at a much higher verified threshold and pertain to executive level decision making and voting towards use of corporate held funds (as opposed to the Foundation wallet) for investing in LGBT enterprises, as well as a proportionate return of dividends of the remaining 50% of the profits generated by Foundation run services.

Building in a masternode system would make this form of governance much more decentralized, and would ensure that the sort of charitable work we hope to perform thru a self-sustaining release of Foundation wallet funds will survive us. The central questions that arise, though, are what services could a masternodes system provide to the GAY Money network that would be deemed useful? What sorts of conventions are set collateralizing the stake for a masternode, and can we make it simpler to set up?

All that being said, masternodes are a definite probability as a future protocol update, and as the services we might possibly provide with that increases exponentially, the movement towards that will be much sooner than later on the development roadmap. I can foresee a ton of possibilities for services that can be hosted, but would love to ear other ideas.

How about an LGBT dating app hosted thru masternodes, with incentivization allowing for the typical fees for interaction charged by such services be sent to masternode operators? While ideas popular thru the DASH masternode program like DarkSend (anonymous transactions) are wonderful, we already have transaction speed that rivals InstantSend as it is. But what MORE can we do with masternodes, with APIs and the constant evolution of interoperability? I cant help but think that consistently re-imagining what we can build on top of existing architecture will lead GAY Money to eventually provide a complete financial service entity that evolves beyond the blockchain.

Anyhow, thank you for the positive message, and hopefully we can earn your consistent participation in the new LGBT economy.
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September 02, 2017, 02:34:32 PM
 #20

We have launched our first GAY Money faucet at http://faucet.gay.money/. The faucet dispenses between 100-500 microgay once an hour.

There is a referral program in place, locking in 15% of dispenses received by those you refer to the faucet.

We will update the look and feel of the faucet, and will work to ensure that appropriate market advertising is presented on the page. Its a very simple faucet, and the choice for quick utility to the community outweighs the need for brand personalization.

Presently the advertisements are served by coinurl.com, and we have no control over the validity of the sites beyond the ad link, so tread with caution and diligence as you always would in following thru on those links.
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