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Author Topic: [ANN] Infinitecoin - IFC | V1.8 Released! *Mandatory Upgrade, upgrade ASAP*  (Read 199202 times)
Den821
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July 16, 2013, 02:50:42 AM
 #721

i like your "bank idea" rewarding people for holding their coins
maybe zackclark70 with his 5 billions would/could be a sponsor Grin

Well that is what I was thinking (though not specifically zackclark), of course unlike the banks we can not just create coins out of thin air so someone would have to invest for the interest and perhaps it is better to do that than to just give them away only for people to dump them on an exchange exacerbating the problem. Use the coins instead to reward people who hold them. I really think it could work.

Now it just needs some heads to be put together to hash out the details.

So okay, what would be the incentive for someone to put the coins up for the interest? I think that one is pretty simple. They would benefit by the price increasing due to some rarity. It is a gamble for them though but I think it could pay off nicely.

What if the holders change their minds and what to cash out? That would be fine but perhaps they would pay a fee or just not receive the interest?

If a fee is levied then that can go towards the interest or something...

Just throwing some ideas out there anyway. Please feel free to run with it (that goes for anyone).

It seems we have some talented site builders on board, it would be great if they could get on board with this idea. And if zackclark or any other large IFC holder would like to chime in that would be great too. Smiley

interesting website, service is  bitcoin based:

https://www.coinlenders.com/

https://bitcointalk.org/index.php?topic=159359.0

Bitcoin Forum > Economy > Marketplace > Lending > CoinLenders :: Get bitcoin loans, and earn interest on your deposits!

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July 16, 2013, 04:59:54 AM
 #722

I you guys are interested I will be starting a board on my forum ( www.altcointalk.co.uk ) dedicated to the future of IFC and ways to get it used more  Smiley


Edit here is a link to the new IFC board>http://www.altcointalk.co.uk/index.php/board,30.0.html

So you don't actually talk here anymore? Just poach? Lol... Really can't be bothered joining yet another board to be honest. Anyway it's all good.
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July 16, 2013, 05:01:06 AM
Last edit: July 16, 2013, 05:11:21 AM by SNAZ31
 #723

i like your "bank idea" rewarding people for holding their coins
maybe zackclark70 with his 5 billions would/could be a sponsor Grin

Well that is what I was thinking (though not specifically zackclark), of course unlike the banks we can not just create coins out of thin air so someone would have to invest for the interest and perhaps it is better to do that than to just give them away only for people to dump them on an exchange exacerbating the problem. Use the coins instead to reward people who hold them. I really think it could work.

Now it just needs some heads to be put together to hash out the details.

So okay, what would be the incentive for someone to put the coins up for the interest? I think that one is pretty simple. They would benefit by the price increasing due to some rarity. It is a gamble for them though but I think it could pay off nicely.

What if the holders change their minds and what to cash out? That would be fine but perhaps they would pay a fee or just not receive the interest?

If a fee is levied then that can go towards the interest or something...

Just throwing some ideas out there anyway. Please feel free to run with it (that goes for anyone).

It seems we have some talented site builders on board, it would be great if they could get on board with this idea. And if zackclark or any other large IFC holder would like to chime in that would be great too. Smiley

interesting website, service is  bitcoin based:

https://www.coinlenders.com/

https://bitcointalk.org/index.php?topic=159359.0

Bitcoin Forum > Economy > Marketplace > Lending > CoinLenders :: Get bitcoin loans, and earn interest on your deposits!

Cool, I will go check that out!

Edit: Okay I had a look and it seems to me that it is more your typical bank. They are loaning out the coins you deposit and that isn't something I would touch personally. And not really what I had in mind. Really the kind of bank I would be talking about would be non profit. The only benefit investors in the bank would get would be having the price rise. Or perhaps you could monetise the site with adverts. But the client funds would not be touched. Too risky in my opinion.
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July 16, 2013, 07:58:22 AM
 #724

interesting ...
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July 16, 2013, 10:46:33 AM
Last edit: July 16, 2013, 11:04:45 AM by SNAZ31
 #725

interesting ...

I was wondering when and if you would take notice.  Smiley

So what do you think? I'm not sure on the rewards side of it, like how much of a percentage you could offer, but I would think it would go up on a scale, maybe even weekly instead of monthly? And of course you would have to have a cut off point depending on the size of the interest pot, so to speak.

I would even be willing to put 20 million into the pot. So maybe someone could do some maths on like how much you would need in a pot to offer a decent enough incentive for people to save.?

Just had an ace idea, (well I think so lol)... Imagine having a ticker for the clients balance, displaying their interest building in real time! Like with the countdown on infinitecoin.net. I think this would give an incentive for the clients to visit the site and watch the balance. Which would create more hits, which would generate more ad revenue. You could obviously advertise crypto related stuff. Due to the size of the number I think it would look really nice ticking along! Hopefully you get me.

Oh and the ad revenue would go to pay for the site and if any is left over it can go back to the shareholders/donators or maybe just used to purchase IFC's to increase the pot and create demand.

I really hope someone with the relevant skills is reading and giving it some thought. Smiley
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July 16, 2013, 12:02:59 PM
 #726

So just done a little maths as an example...

So I am putting in 20 million. And lets say the interest rate is 5% for like a 3 month contract? Or a month whatever...

So someone deposits 1 million IFC, and holds it the specified time to receive the 5%. He would then receive 50,000 extra coins...

Now my 20 million would allow for 400 million worth of savers money under those conditions. So with the timescale you would want to work out how long you want the amount to be out of circulation, and what would make it worthwhile for the saver. I don't know where that balance would be and hopefully someone can help out with that?

Oh and under those conditions 1 billion in the pot would allow for 20 billion worth of savers money! That I feel would make quite a dent! And think also that the major holders would also not have their funds on the exchanges either, if they are in it for the long haul...

And say lets take zackclark as an example. Lets say he puts up 1 billion of his 5 billion. He would need the price of IFC to rise by merely 20% to have the equivalent holdings!

If my maths is right, please check! lol
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July 16, 2013, 12:22:38 PM
 #727

what I would like to do with the IFC I have

I will be closing some of my IFC giveaways as the IFC I am giving away is just being dumped on cryptsy

I am thinking about  paying out IFC to people that post useful topics and posts on my forum

It would have to have minimum requirements maybe

Topics 20 lines of text and a minimum of 10 posts on the topic by other users 

Posts 5 lines of text and has to be related to the topic


That way it would support my forum share out the IFC and help keep posts on topic 


i have a few other ideas as well just wondering what you guys think  Smiley

i will post a link here to the topic on my forum about this post ( guests can post on the forum )

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July 16, 2013, 12:34:57 PM
 #728

what I would like to do with the IFC I have

I will be closing some of my IFC giveaways as the IFC I am giving away is just being dumped on cryptsy

I am thinking about  paying out IFC to people that post useful topics and posts on my forum

It would have to have minimum requirements maybe

Topics 20 lines of text and a minimum of 10 posts on the topic by other users 

Posts 5 lines of text and has to be related to the topic


That way it would support my forum share out the IFC and help keep posts on topic 


i have a few other ideas as well just wondering what you guys think  Smiley

i will post a link here to the topic on my forum about this post ( guests can post on the forum )

Of course that is not a bad way to promote your site and it is of course your coins, but my first thought is that it doesn't exactly do anything for the coin itself. In fact I think those coins would eventually just find their way back on an exchange again.

But again it is your call etc, I'm sure it would work to increase traffic on your site.
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July 16, 2013, 12:43:40 PM
 #729

it will help spread out the coins more and make people work for the coins and hopefully that makes them value them more

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July 16, 2013, 12:50:24 PM
 #730

it will help spread out the coins more and make people work for the coins and hopefully that makes them value them more

Well yes it would potentially spread out the coins more, and maybe even make them value them more. It would be worth a go. But vs clearing a potential 20 billion of the boards, I don't think it would have anywhere near the same effect. Imagine if we could gather 2 billion for interest and that would clear 40% of the coins that will ever be created. It would create rarity as well as generating ad revenue which in turn would create demand (assuming you put the ad revenue to purchasing more coins to offer more potential saving. Eventually though you would reach critical mass.
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July 16, 2013, 12:54:44 PM
 #731

The problems with savings loans and banks even escrow is the law and being centralised would mean that it could be shut down very easily

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July 16, 2013, 12:57:57 PM
 #732

The problems with savings loans and banks even escrow is the law and being centralised would mean that it could be shut down very easily

There would be no loans offered, it would simply be a vault that offers interest. There would be no fiat involved so I see no reason it would come under any laws at present. Of course the laws could change. And also it is all dependent on where in the world the project is set up. For instance Germany declared cryptos are exempt from tax etc.

EDIT: Also worth note is the project would be a relatively short term one. Probably only lasting 6 months to a year. Once you had run out of capital you could no longer offer the service. But by then I could see rises of over a 1000% and the coins distributed much better.
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July 16, 2013, 01:05:19 PM
 #733

can we ether move this to a new topic and call it IFC development or start a topic on altcointalk ?

( we are going of topic on the ann thread )

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July 16, 2013, 01:08:22 PM
 #734

can we ether move this to a new topic and call it IFC development or start a topic on altcointalk ?

( we are going of topic on the ann thread )

Oh, I'm sure I read from the developer that if you had any ideas it was cool to post them here. I am posting here because most of the community (as far as I know) is here. The developer also seems interested in the idea and so it would make sense to post here?
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July 16, 2013, 01:11:16 PM
 #735

ok no probs i just haven't seen to much development yet maybe the dev should contact me  Smiley

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July 16, 2013, 01:17:21 PM
 #736

ok no probs i just haven't seen to much development yet maybe the dev should contact me  Smiley

LOL, well this is the job of all of us no? We all have an interest to make the coin better, this idea is my contribution. Smiley I mean to me it would be a fairly simple thing to set up though. All you need is an offline wallet to store the coins, a website that holds a representation of those coins with a ticker to show the increase (it would totally be awesome), and that's about it? But of course you would have to decide what the contract would be. I don't see any flaws in it. I can see people wanting to invest purely for the extra 5%. It would be like you are merge mining, BTC & NMC style... That would drive the demand too.

EDIT: The question is would you like more traffic on your site or would you like 1000%+ profit? I'm sure there could be a space for an advert to your site! Wink
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July 16, 2013, 01:32:32 PM
 #737

To be honest I would rather have the traffic on my site as that would be supporting a lot of different altcoins and helping people that have 0 IFC and people that are just getting into crypto as 50% of all IFC is held by under 20 people so until IFC is more distributed it will only attract the 20 or so big holders

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July 16, 2013, 01:40:04 PM
 #738

To be honest I would rather have the traffic on my site as that would be supporting a lot of different altcoins and helping people that have 0 IFC and people that are just getting into crypto as 50% of all IFC is held by under 20 people so until IFC is more distributed it will only attract the 20 or so big holders

Okay well that is fair enough though I don't even think we have even hit the half way mark yet regarding mining. You see I think this will encourage more people to mine too, especially when they see the price increasing but the 5% markup over a short period would surely be an incentive on it's own? All of that will aid distribution, of course there will still be the big holders and they stand to gain the most with the price increase (hence them having the biggest interest in funding such a project) . But every coin has those lol.

I am far from a big holder, I currently have 53 million coins, but I am still mining and will continue to do so.

Edit: Also I don't see why this couldn't be used for any and every alt coin. Smiley
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July 16, 2013, 01:43:52 PM
 #739

interesting ...

I was wondering when and if you would take notice.  Smiley

So what do you think? I'm not sure on the rewards side of it, like how much of a percentage you could offer, but I would think it would go up on a scale, maybe even weekly instead of monthly? And of course you would have to have a cut off point depending on the size of the interest pot, so to speak.

I would even be willing to put 20 million into the pot. So maybe someone could do some maths on like how much you would need in a pot to offer a decent enough incentive for people to save.?

Just had an ace idea, (well I think so lol)... Imagine having a ticker for the clients balance, displaying their interest building in real time! Like with the countdown on infinitecoin.net. I think this would give an incentive for the clients to visit the site and watch the balance. Which would create more hits, which would generate more ad revenue. You could obviously advertise crypto related stuff. Due to the size of the number I think it would look really nice ticking along! Hopefully you get me.

Oh and the ad revenue would go to pay for the site and if any is left over it can go back to the shareholders/donators or maybe just used to purchase IFC's to increase the pot and create demand.

I really hope someone with the relevant skills is reading and giving it some thought. Smiley

maybe erundook could create a online-wallet-website with rewards.
he is running the ifc pool https://ifc.epools.org
 https://bitcointalk.org/index.php?action=profile;u=114495
and a online-wallet https://wallet.epools.org/

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July 16, 2013, 01:48:58 PM
 #740

interesting ...

I was wondering when and if you would take notice.  Smiley

So what do you think? I'm not sure on the rewards side of it, like how much of a percentage you could offer, but I would think it would go up on a scale, maybe even weekly instead of monthly? And of course you would have to have a cut off point depending on the size of the interest pot, so to speak.

I would even be willing to put 20 million into the pot. So maybe someone could do some maths on like how much you would need in a pot to offer a decent enough incentive for people to save.?

Just had an ace idea, (well I think so lol)... Imagine having a ticker for the clients balance, displaying their interest building in real time! Like with the countdown on infinitecoin.net. I think this would give an incentive for the clients to visit the site and watch the balance. Which would create more hits, which would generate more ad revenue. You could obviously advertise crypto related stuff. Due to the size of the number I think it would look really nice ticking along! Hopefully you get me.

Oh and the ad revenue would go to pay for the site and if any is left over it can go back to the shareholders/donators or maybe just used to purchase IFC's to increase the pot and create demand.

I really hope someone with the relevant skills is reading and giving it some thought. Smiley

maybe erundook could create a online-wallet-website with rewards.
he is running the ifc pool https://ifc.epools.org
 https://bitcointalk.org/index.php?action=profile;u=114495
and a online-wallet https://wallet.epools.org/


Well we can surely approach him, good idea. Though right now what we need to know is if the big holders have any interest in investing in the project, without them or without a big enough pot it won't work for very long. Though mind you the 20 million I offer would clear 400 million off the boards, and if others would chip in the same we could do it still. I think it would be a great thing to do for every coin. I don't know why a big holder wouldn't want to see their coin flourish?

EDIT: I have contacted him and so we will see what he has to say, if anything.Smiley
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