Ethicoin is coming: Ethicoin's purpose is to improve the condition of humanity

[lightlord]

Reserved

[crumbcake]

So you heard Ethiopian children, load them on slave boats & ship them to India, where they're made to toil for you slaughtering baby unicorns?!  EthiCo, that's simply appalling! 
EthiCo, hard-working Americans want their jobs back!  Shutting down EthiCo.US to open an Indian branch, EthiCo.In, is a transparent ploy to avoid taxation & regulation.
Now-abandoned killing floors of EthiCo.US unicorn slaughterhouses cry out for justice!
Down with EthiCo.In!
Down with EthiCo.In!
Down with EthiCo.In! 

[r3wt]

So you heard Ethiopian children, load them on slave boats & ship them to India, where they're made to toil for you slaughtering baby unicorns?!  EthiCo, that's simply appalling! 
EthiCo, hard-working Americans want their jobs back!  Shutting down EthiCo.US to open an Indian branch, EthiCo.In, is a transparent ploy to avoid taxation & regulation.
Now-abandoned killing floors of EthiCo.US unicorn slaughterhouses cry out for justice!
Down with EthiCo.In!
Down with EthiCo.In!
Down with EthiCo.In! 

[crumbcake]

So you heard Ethiopian children, load them on slave boats & ship them to India, where they're made to toil for you slaughtering baby unicorns?!  EthiCo, that's simply appalling! 
EthiCo, hard-working Americans want their jobs back!  Shutting down EthiCo.US to open an Indian branch, EthiCo.In, is a transparent ploy to avoid taxation & regulation.
Now-abandoned killing floors of EthiCo.US unicorn slaughterhouses cry out for justice!
Down with EthiCo.In!
Down with EthiCo.In!
Down with EthiCo.In! 

[no drugz pic]

And how do you think EthiCo.In gets the Ethiopian tykes to slaughter baby unicorns, huh?  That's right.  They get them hooked on smack.
I've seen the face of evol, and it's EthiCo.In! 

[ondratra]

Based on that description, it sounds...exactly like Devcoin. How will it be different from the existing currency?

imho it sounds more like another alt-coin with only changed constants + name and logo.. hope it has something better than "10 reasons why this coin is better" article

Thank you for the feedback. Please read the above post - we are hoping to be the first coin which can be merge mined with LTC. I will admit the majority of the rest of the motivation behind Ethicoin is non-technical and is to simply help humanity achieve its dreams on this planet and we are proud of that.

Wow - sry, I missed that one I am proud of the coin than! looking forward to mine some

[weisoq]

This is a very good question.

Ethicoin will be different to Devcoin in a number of ways:

- Ethicoin is not designed to compete with Devcoin (it is inspired by DVC after all) but rather to complement Devcoin.

- There will be a limit of approx 80 000 000 Ethicoin's ultimately in circulation (Devcoin is virtually unlimited) this will ensure Ethicoin's retain, hold, and hopefully improve their value over time.

- Devcoin sponsors open-source projects only - Ethicoin will sponsor any project which is deemed to be beneficial to humanity on this planet (more specific criteria coming soon).

- With Ethicoin 50% of generated coins will go to the miners and 50% will go to sponsored projects (with Devcoin 90% of generated coins go to projects and 10% go the miners)

- Ethicoin will be merge mined with LTC (OK there goes one of our secrets As far as I know Ethicoin will be the first coin to achieve this.

- Ethicoin is Scrypt based

- Ethicoin will implement DVC's concept of receiver files to distribute funds to sponsored projects.

- Due to being the first coin to be merge mined with LTC,  Ethicoin will in essence amount to "free coins" for LTC miners while also helpng ensure a bright future for humanity on this planet.

Further questions are more than welcome (although I have to go soon) but we will endeavour to answer any questions as soon as possible.

If you or anyone you know may be eligible for ETC funding please email ethicoin@gmail.com

You can't have a limit to the blockchain and an 'ethical' coin, or the future distribution, ownership and profit skew will exactly resemble bitcoin. The only difference is that instead of early adopters determing the lifecycle it becomes you, an ethicoin foundation and early adopters doing so. Which is cool, it's a free market, but it's not ethical.

[Luckybit]

i see i see. sounds neat.

Thank you for your support.

Please let me know if you or anyone you know may be eligible for funding,

Ethicoin will be widely mined due to the (secret feature) to be revealed soon

Anyone is eligible to earn Ethicoin's (beyond the miner's who will also earn Ethicoin) so please let me know if you know anyone who may be interested!

The real question is why will anyone want to earn it? Sounds like a lot of hype so far. Devcoin does need competition though because they messed up in how they designed it in my opinion.

[Luckybit]

Very interested, merge mine with LTC will be revolutionary

Thank you - this is the technical hurdle we are still overcoming and we are looking for an LTC mining pool where we can test our LTC merge mining. I'll be honest - we really need to test this LTC merge mining in the wild before launching ETC. So if you know a large LTC mining pool willing to support our tests please let me know

Coinotron

One thing is certain. You try to merge mine Ethicoin with Vaginacoin.. shit will get strange

Close encounters of the third kind coin  

LOL

But could you elaborate on how LTC miners will receive free coins? I think I missed the merged mining explanation boat... :/

Well, if you are mining LTC anyway you can run ETC (Ethicoin) Deamon and mine LTC at the same time. Free coins - but please don't spend them all at once and drop the exchange rate  - rather save them to support the many awesome world changing projects we will be sponsoring Of course cash them in if you need to that is the point

If it works I'll definitely support it. I plan to mine LTC anyway. Let me ask this though, why 80 million? Is this because Litecoin is 84 million? In that case you're very clever and I now have faith in your currency. I think it's always better to go for a lower cap.

The main issue isn't the cap though, it's the inflation rate. How will you keep the inflation rate low enough? The other question is how to get people to actually use this coin? Devcoin has Devtome, what will this coin have?

[shantee]

so if i understand it 's a coin that will be used to fund "peace and love projects" around the world ? Cool that 's a noble intention ! But can't we already do that with € euros $ usd  or even Thai baht ?

[CLains]

The 50% was eventually decided as a means of distribution to give miners more % for deciding to mine Ethicoin, than BTC miners currently earn mining DVC.

I think it's always better to look for a way that a parameter, such as 50% in this case, can have the chance to adjust itself or self-organize in some way instead of being given by initial guesses of what will work the best.

The foundation of the how the 50% will be distributed can be seen in DVC's code and concept of receiver files; we are still ironing out the details but these will be well and truly resolved before the official ANN thread. As discussed above we will also give plenty of time for projects to apply to be on the receiver files before launch.

I really applaud your efforts. But make note of how Bitcoin leverages competition, "greed" and the inventiveness of individuals to self-organize into something great.

Looking forward to the emergent AI driven self organizing cryptocurrency you mention

Not much is needed! Bitcoin is already a self-organizing open source currency. With Devcoin one can begin to understand how to extend this technology to fund worthwhile projects. A key insight is to see that one can understand how this technology can fund its own improvement (i.e. growth).

Meta-ethically, one should remember that good ethics (ethical improvement) borrows a lot from perpetual commitment to truth and progress. This means that there should be brutal, "open-source" discussions about how to spend the money most productively and ethically. Discussions about worthwhile projects should have competition, "greed" and the inventiveness of individuals as input, and truth and moral action as output. That's true alchemy for real idealists!

(I'm not much of an idealist myself, but I love new, revolutionary and exciting ideas and this idea is absolutely awesome. FinShaggy is my hero just for having the audacity to glimpse the potential.)

[digitalindustry]

[digitalindustry]

One thing is certain. You try to merge mine Ethicoin with Vaginacoin.. shit will get strange

no dude > that would be the Analcoin to Vagcoin merge mine !

also not promising is the Assscoin to Mouthcoin merge mine .

[jlspartz]

Why not plan an outlet for the coin like getting charities to accept it as a currency. Then I think it would have a unique benefit. I know ultimately that is what you're doing with the 50-50 split but you control it all. Give power to the people to choose what it goes to.

[crumbcake]

http://i32.photobucket.com/albums/d21/mtbchaz/BabySeals.gif

let me fix that for ya:
http://s20.postimg.org/xfu8jyy4d/Untitled_1.gif

[Luckybit]

Why not plan an outlet for the coin like getting charities to accept it as a currency. Then I think it would have a unique benefit. I know ultimately that is what you're doing with the 50-50 split but you control it all. Give power to the people to choose what it goes to.

Why not just fund the people with the coin? Most people want to do work which benefits the world. Very few are trying to build some WMD or weapon so I don't see why most people on Bitcointalk couldn't use it. All they have to do is figure out how to make it better than Devcoin.

[JessicaMILFson]

Glad we have some competition now. Devcoin really screwed things up with their infinite supply of coins.

[wtogami]

Very interested, merge mine with LTC will be revolutionary

Thank you - this is the technical hurdle we are still overcoming and we are looking for an LTC mining pool where we can test our LTC merge mining. I'll be honest - we really need to test this LTC merge mining in the wild before launching ETC. So if you know a large LTC mining pool willing to support our tests please let me know

In general, the launch of any new coin needs to be fair and widely distributed in to prevent monopolies and 51% attacks.  Thus prior to launch of a real coin, you seriously need to test a fakecoin with *multiple* mining pools.  LTC mining pools currently have no experience with merged mining, thus a fakecoin with a built-in death date would give them practice in preparing to handle a real merged mine coin later.

Litecoin Dev Team feels most new coins are harmful, but merged mining coins are less bad as they do not compete for hash power that secures the main network.  While the team should not give preferential treatment to any particular coin, we do give a little more attention to answering questions to the bigger donors to the fundraiser as they have demonstrated commitment to the long-term safety and stability of the LTC network.

Warren

[d5000]

Interesting coin.

Would it be possible to create a system like Flattr for the users to vote democratically for elegible projects?

I have some ideas I originally wanted to share with DVC community, but must elaborate them a bit more as it seems a system of this kind must be integrated deeply with the client. Perhaps with an entirely new coin this could be easier.

[FinShaggy]

Are there ways to earn this coin without mining, maybe by writing?

[FinShaggy]

I am also willing to share links and make YouTube videos or anything else.