Antimatter coin version 0.2.0

[barwizi]

After https://bitcointalk.org/index.php?topic=223454.0. I realised the potential for this idea in the alt-coin section.

By following the lead of abstract coin i have this idea in mind.

A currency backed by other currencies.

If say i had 0.1 antimatter coin, at that moment it is worth only 0.1 antimatter coin...but if i stake 1 PXC to it, then every 0.1 antimatter coin is backed by 0.1 PXC. If someone else stakes 1 LTC each 0.1 unit is backed by 0.1 PXC and 0.1 LTC. This goes on and on, in order to keep it valuable, only coins traded on cryptsy will be used as a form of currency backing.

Keeping track of the transactions has been a hurdle for abstract coin, i intend to make a client that will handle that issue.
Simply i will premine the entire 100 coins, all blocks generated after that will produce only 0.00001 coin. I will then send 1 ANC to each individual till i run dry.
These individuals will then also divy it it up to others until the coin is widespread. The incentive to spread it around come from the fact that the more it goes around, the more people can stake to it. if i can back 1 ANC with just 10 LTC it pales in comparison to 10 people backing up 0.1 with 2.5 LTC each.

Management of the stakes will have to fall to an individual until we can get this coin onto an exchange, where by the exchange will then take over and using algo, calculate the value of the coin based on market price and how much is in the shared wallet. (another restriction for usable currencies may be a block explorer)

As a result the alts shore up this "idea" coin and as the coin gains value...so can your alts. By limiting growth of the coin to 1% a year and limiting it to 100 at the begining only over time the stakes push the price of each unit up. And as the volume of stakes rises, this "coin" may end up being worth more than BTC due to it's being backed by cumulative values of tradable alt coins. This is a project that will (just like noirbits) be community oriented, i chose cryptsy due to thier acceptance of alt ideas and the way they are easily reachable, they have accepted all our ****coins so they get first crack at this.

This idea came to us on cryptsy and google chat while we were trying to figure out a way to combine all the alts, either by merged mining, or a unifying idea. Feedback is welcomed.


Tradable currencies accepted as pledges


AMERICANCOIN (AMC)   

BBQCOIN (BQC)   
 
BITBAR (BTB)   

BITCOIN (BTC)   

CHNCOIN (CNC)   

DOUBLOONS (DBL)   

DIGITALCOIN (DGC)   

DEVCOIN (DVC)   

ELACOIN (ELC)   

FREICOIN (FRC)   

FRANKO (FRK)   

FASTCOIN (FST)   

FEATHERCOIN (FTC)   

GLDCOIN (GLD)   

HYPERCOIN (HYC)   

IXCOIN (IXC)   

JUNKCOIN (JKC)   

LUCKYCOIN (LKY)   

LITECOIN (LTC)   

MEGACOIN (MEC) 

MEMECOIN (MEM)   

MINCOIN (MNC)   

NIBBLE (NBL)   

NAMECOIN (NMC)   

NOVACOIN (NVC)   

PPCOIN (PPC)   

POWERCOIN (PWC)   

PHENIXCOIN (PXC)   

ROYALCOIN (RYC)   

TERRACOIN (TRC)   

WORLDCOIN (WDC)   

YACOIN (YAC)   

[1714477725]

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[1714477725]

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[1714477725]

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[1714477725]

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[tadakaluri]

RESERVE

[dubs]

RESERVE

reserved

[r3wt]

reserve

[tadakaluri]

Good Idea, But how to implement?

[barwizi]

Good Idea, But how to implement?

most of the implmentation ideas are in the first post.. the question most have been asking is how to manage stakes and how to avoid scams, i think a publicly viewable page that highlights all the balances for each coin could be a start. i'm taking a programming break for a few hours, will have more info in 5 hours on how to manage the stakes.

[Taxidermista]

Why, why on this f*cking earth there has to be *ALWAYS* someone trying to break the first law of thermodynamics?

[BitJohn]

Why, why on this f*cking earth there has to be *ALWAYS* someone trying to break the first law of thermodynamics?

lol because its exciting

[noel]

Why, why on this f*cking earth there has to be *ALWAYS* someone trying to break the first law of thermodynamics?

because they are bored and cannot sit still long enough to watch tv... well that is my best guess

[barwizi]

Why, why on this f*cking earth there has to be *ALWAYS* someone trying to break the first law of thermodynamics?

people practically beg for innovation out of this forum...well, here is my idea to dampen the influx of alts and try to unify and solidify existing ones that survived this mess.

[r3wt]

Good Idea, But how to implement?

most of the implmentation ideas are in the first post.. the question most have been asking is how to manage stakes and how to avoid scams, i think a publicly viewable page that highlights all the balances for each coin could be a start. i'm taking a programming break for a few hours, will have more info in 5 hours on how to manage the stakes.

thats fucking retarded. instead, their should be a buyin price. say .05 BTC per share,with an infinite number of shares. that way there is something actually backing the currency

[barwizi]

Good Idea, But how to implement?

most of the implmentation ideas are in the first post.. the question most have been asking is how to manage stakes and how to avoid scams, i think a publicly viewable page that highlights all the balances for each coin could be a start. i'm taking a programming break for a few hours, will have more info in 5 hours on how to manage the stakes.

thats fucking retarded. instead, their should be a buyin price. say .05 BTC per share,with an infinite number of shares. that way there is something actually backing the currency

BTC is the king of the hill currently, but that would encourage a massive altcoin dump for btc if this became successful. The issue is not to kill alts, but to make an alt that works with alts, and by combining those alts, this alt can make it to becoming the king of the hill, because you can back it up with the current king of the hill. See when BTc fell and the alts held strong, it's not an easy concept i know, but calling it retarded says a lot about your mental state.

[r3wt]

Good Idea, But how to implement?

most of the implmentation ideas are in the first post.. the question most have been asking is how to manage stakes and how to avoid scams, i think a publicly viewable page that highlights all the balances for each coin could be a start. i'm taking a programming break for a few hours, will have more info in 5 hours on how to manage the stakes.

thats fucking retarded. instead, their should be a buyin price. say .05 BTC per share,with an infinite number of shares. that way there is something actually backing the currency

BTC is the king of the hill currently, but that would encourage a massive altcoin dump for btc if this became successful. The issue is not to kill alts, but to make an alt that works with alts, and by combining those alts, this alt can make it to becoming the king of the hill, because you can back it up with the current king of the hill. See when BTc fell and the alts held strong, it's not an easy concept i know, but calling it retarded says a lot about your mental state.

Oh brother, you're one of these Derptards with a self reinforcing statement. Let me tell you about your self reinforcing statement. you can paint a turd gold but its still a turd. you can make up a statement to backup your idea but its still flawed. you must have accounts set up to handle these alts. not just a thread that anyone can come in and say i pledge blah blah blah blah. it has to have real verification.

[barwizi]

  my word you truly are the most narrow minded fool i've ever exchanged words with.. it's called an idea. You must be one of the fools still insisting the world is flat and earth is the centre of the universe. Take a hike asshole, it's not my fault you were dropped on your head. Comments are great but if all you do is shit from your mouth i really dont have time for you. Crawl back to the hole which you came from fucktard, this is grown-ups only talk.

[r3wt]

my word you truly are the most narrow minded fool i've ever exchanged words with.. it's called an idea. You must be one of the fools still insisting the world is flat and earth is the centre of the universe. Take a hike asshole, it's not my fault you were dropped on your head. Comments are great but if all you do is shit from your mouth i really dont have time for you. Crawl back to the hole which you came from fucktard, this is grown-ups only talk.

so you don't refute the underlying flaws in your proposed coin, which i love by the way. I must have misread the OP, where it said comments and suggestions were welcomed. it would appear those were merely pleasantries. otherwise you're getting butthurt because i gave resistance to your proposed modal of "security". Excuse my bluntness, i thought we were adults who could accept constructive criticism.

[barwizi]

r3wt

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Re: Antimatter coin version 0.2.0
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[WikiLeaksLover]

r3wt

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LOL you' re acting like a bitch. r3wt raised a valid point

[r3wt]

r3wt

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fucking childish pussy.

[barwizi]

r3wt

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Re: Antimatter coin version 0.2.0
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LOL you' re acting like a bitch. r3wt raised a valid point

economics 101, you can only give something a value when people want it. This idea coin is virtually worthless until people adopt the system. and by setting a buy in price no matter how low or high, it already set value limitations to the coin. Have you invested 100 LTC on any of the recent alts? did you get your money back? have you noticed that even for the new coin, google docs isnt an option anymore? While you are thinking on that, i'll ask you not to call me a bitch. Study first before you speak. What valid point has he raised? The point that i should set a price in any currency for something that has an initial value of zero? my goodness man. Please raise facts or valid ideas that  relate to what we are doing, even setting a buying price opens up opportunities for scammers....which you aare one apparently.. wow. 

[r3wt]

r3wt

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Re: Antimatter coin version 0.2.0
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LOL you' re acting like a bitch. r3wt raised a valid point

economics 101, you can only give something a value when people want it. This idea coin is virtually worthless until people adopt the system. and by setting a buy in price no matter how low or high, it already set value limitations to the coin. Have you invested 100 LTC on any of the recent alts? did you get your money back? have you noticed that even for the new coin, google docs isnt an option anymore? While you are thinking on that, i'll ask you not to call me a bitch. Study first before you speak. What valid point has he raised? The point that i should set a price in any currency for something that has an initial value of zero? my goodness man. Please raise facts or valid ideas that  relate to what we are doing, even setting a buying price opens up opportunities for scammers....which you aare one apparently.. wow. 

barwizi, i'm not sure what you are bitching abut. i conceded that point to you in my second post in lieu of your response. i had moved on to your second issue, that it needed to have real accounts(in whatever alt coin) backing it. that isn't placing any limitation other than what is absolutely necessary to insure viability.