[ANN] TradeCoin (TDC) | Launched

[cryptopi]

Announcing Tradecoin (TDC)

I know that there has been a huge flood of copy and paste litecoin (and other) clones recently and that their sole function has been to pump and dump and haven't really been unique in any way. I would not like TradeCoin to be like those other coins and I have endeavoured to do so not so much in the programming, but in the release and real-world use. So here are the specs for my new coin, TradeCoin:

• 147,000,000 total coins (bitcoin times 7)
• 5 second block time
• 147,000,000 block reward, but only for the first block. Every block thereafter has a reward of 0
• scrypt algorithm
• Fist fully mined cryptocurrency in existence

Now please give me a chance to explain myself:
Yes I know that means the first block is the only one that will yield coins and I know that a 5 second block time can have issues. However, please allow me to present the unique aspects and ideas of and behind this coin; please hear me out before posting derogatory comments:

I will be mining all of the coins that will ever exist before I release it. I intend to release it on June 26th at 8:00 AM EST, and this thread is detailing its release. This coin will never really be mined, not like traditional coins are - hence the name TradeCoin. Therefore, the 5 second block time should not pose a problem and it should only serve to make transaction times as minimal as possible (because orphans will not exist). This coin will only be traded, either for free on giveaways, purchased from a coin holder, or purchased on an exchange. I believe this type of release has several advantages, the first of which being that the early adopters do not have some huge advantage and the second of which is that big time miners or botnets do not have an advantage and cannot unjustly acquire coins. In adidition, it does not require a huge, multi-thousand dollar investment in a mining rig to mine coins.
The 147,000,000 coins I currently own will be used in the following manner (provided they still exist due to giveaways as that is a variable amount) (Pease PM when criteria for bounty has been met):

• 56,000,000 for bounties
• • 10,000,000 for the first exchange to support it
  • 10,000,000 for the second exchange to support it
  • 10,000,000 for the third exchange to support it
  • 5,000,000 for the first gambling site to support it
  • 5,000,000 for the second gambling site to support it
  • 1,000,000 for the first faucet site to accept it (paid but could be better. I will pay more for more faucet sites. Gives 1k per person)
  • 12,000,000 for the first merchant site to accept it
  • 1,000,000 x 3 for three people to mine it (with any computer, just to keep it alive - but you must mine permanently as long as the coin is alive. I will pay 50-100k per month depending on what you will use to mine it and it should equal one million eventually)
• 80,000,000 for giveaways (80,000x1000)
• 11,000,000 for random things and I'd like to make a small profit

Free Tradecoins:

• https://bitcointalk.org/index.php?topic=243609.0 (2000 per person - giveaway)
• http://tradecoin.freeforums.net/thread/2/tdc-giveaway-2500-person (2500 per person - giveaway)
• https://bitcointalk.org/index.php?topic=245003.0 - jokes for tradecoins
• https://bitcointalk.org/index.php?topic=244802.0 - register on http://tradecoin.freeforums.net/ for 3k coins
• https://bitcointalk.org/index.php?topic=245656.0 - tradecoin suggestions for tradecoins
• http://www.altcointalk.co.uk/index.php/topic,30.0.html (3k per person - giveaway)

If you have any ideas with regards to the release of this coin or if you have a better idea as to how many coins should be involved in giveaways and bounties, please feel free to voice your opinion

I intend to make this release as transparent as possible, so please state any questions/comments/suggestions/ and I will try my best to take them under consideration.

Forum
http://tradecoin.freeforums.net/ (main - register and receive 3k TDC - https://bitcointalk.org/index.php?topic=244802.0)
https://cryptocointalk.com/forum/272-tradecoin-tdc/ (secondary - perhaps for giveaways and such)


Downloads:
Windows Client Download: https://docs.google.com/file/d/0Bxg44Xg62898UkIzbTRpOW9PZGs/edit?usp=sharing
Source Code at Github: https://github.com/tradecoin/tradecoin

Services:
https://bitcointalk.org/index.php?topic=244369.0 (exchange, actually)

Game Sites that Accept TradeCoin:
Ahmedbodiwala.tk/TDC
http://lotto.coinworld.us/TDC/
http://altcoin.tk/
http://www2.crypto-expert.com/Faucets/tradecoin.php
For a chance to win 5k every day: https://bitcointalk.org/index.php?topic=244313.0

Exchanges that Accept TradeCoin:
https://bitcointalk.org/index.php?topic=244369.0

This is just a new idea; it could fail miserably or it could succeed and there is only one way to find out

Addnodes are:
105.236.147.148
116.193.172.4
137.117.179.86
125.17.245.78

**Additional bounties

• Mac wallet - 100k
• Web wallet - 150k

• Official website - 200k

[/list]

[cryptopi]

reserved

[MaGNeT]

100% premined coin 

[daggerismo]

ohhh i love this coin.... i will mine right now... ohh wait.... its all premined

[nawazish1]

100% premined coin 

I left this for you to comment first. I think this will be a good idea for testing the future of LTC when coin creation will end. I think same applies to BTC.

[octal42]

What could possibly go wrong?

[cryptopi]

100% premined coin 

I left this for you to comment first. I think this will be a good idea for testing the future of LTC when coin creation will end. I think same applies to BTC.

That was part of the experimental nature - a way of transporting into the future of other coins to see what happens

[cryptopi]

What could possibly go wrong?

Everything or nothing - that's the nature of an experiment  

[HuuHachu]

5 second block time makes it easier to 51% ...

not getting reward on blocks mined does not mean you are protected from 51% attacks ...

51% attacks are mostly used to double spend coins once you own some.

As your coin will probably not atttract a lot of hashing power, it will therefore be even easier to 51% ...

You should go for proof of stake for this kind of concept.

[cryptopi]

5 second block time makes it easier to 51% ...

not getting reward on blocks mined does not mean you are protected from 51% attacks ...

51% attacks are mostly used to double spend coins once you own some.

As your coin will probably not atttract a lot of hashing power, it will therefore be even easier to 51% ...

You should go for proof of stake for this kind of concept.

Hmm, good point, if that occurs then it may necessitate creating version 2 of this coin

[amytheplanarshift]

• • 8,000,000 for the first exchange to support it
  • 10,000,000 for the second exchange to support it
  • 12,000,000 for the third exchange to support it
  • 5,000,000 for the first gambling site to support it
  • 5,000,000 for the second gambling site to support it
  • 1,000,000 for the first faucet site to accept it
  • 12,000,000 for the first merchant site to accept it
  • 1,000,000 x 3 for three people to mine it (with any computer, just to keep it alive)

Why would you give only 8 mil to the first exchange to support it and more to the exchanges that follow? Who is going to want to be first when you can be 3rd and get 4 million more coins? It makes zero sense, just like the entire coin itself.

[octal42]

I agree, proof of stake would make it interesting.

[cryptopi]

• • 8,000,000 for the first exchange to support it
  • 10,000,000 for the second exchange to support it
  • 12,000,000 for the third exchange to support it
  • 5,000,000 for the first gambling site to support it
  • 5,000,000 for the second gambling site to support it
  • 1,000,000 for the first faucet site to accept it
  • 12,000,000 for the first merchant site to accept it
  • 1,000,000 x 3 for three people to mine it (with any computer, just to keep it alive)

Why would you give only 8 mil to the first exchange to support it and more to the exchanges that follow? Who is going to want to be first when you can be 3rd and get 4 million more coins? It makes zero sense, just like the entire coin itself.

Fixed

[amytheplanarshift]

Fixed

Gee, I'm glad you spent so much time thinking all this through.

[cryptopi]

Fixed

Gee, I'm glad you spent so much time thinking all this through.

I actually did: my logic was that 8 million was enough for cryptsy to support it and then rewards of 10 and 12 million would entice vicurex and bter, respectfully.
So there was logic to it, just not your logic.

[daggerismo]

i have a question.... in what point the miners enter to this coin? how we can get coins or its just a coin for buying/selling?

well thats was two question

[cryptopi]

i have a question.... in what point the miners enter to this coin? how we can get coins or its just a coin for buying/selling?

well thats was two question

1) Miners should not really be attracted to this coin, they have already all been created
2) Since they have already all been created, the only way to obtain is via a giveaway, buying or selling (I will be starting a giveaway of 1000 coins per person as soon as the coin is released).

Does that answer your questions?

[daggerismo]

i have a question.... in what point the miners enter to this coin? how we can get coins or its just a coin for buying/selling?

well thats was two question

1) Miners should not really be attracted to this coin, they have already all been created
2) Since they have already all been created, the only way to obtain is via a giveaway, buying or selling (I will be starting a giveaway of 1000 coins per person as soon as the coin is released).

Does that answer your questions?

i have another question


what is the idea of this coin?

just for example, i buy 100000 TDC for 1 LTC, then the price moves down and down and finally stabilize on 300000 for 1 LTC and never goes up....so i will lost a lot of money (not really a lot but this is just an example ) in other way the price can goes up and up and up an finally i can sell my 100000 TDC for 10 LTC,  then people with a lot of LTC to spend can buy TDC and the rest of US just able to sell our few coins



the risk is too high.... sorry for my bad english, i know that nobody can understand my point :/

[cryptopi]

i have a question.... in what point the miners enter to this coin? how we can get coins or its just a coin for buying/selling?

well thats was two question

1) Miners should not really be attracted to this coin, they have already all been created
2) Since they have already all been created, the only way to obtain is via a giveaway, buying or selling (I will be starting a giveaway of 1000 coins per person as soon as the coin is released).

Does that answer your questions?

i have another question


what is the idea of this coin?

just for example, i buy 100000 TDC for 1 LTC, then the price moves down and down and finally stabilize on 300000 for 1 LTC and never goes up....so i will lost a lot of money (not really a lot but this is just an example ) in other way the price can goes up and up and up an finally i can sell my 100000 TDC for 10 LTC,  then people with a lot of LTC to spend can buy TDC and the rest of US just able to sell our few coins



the risk is too high.... sorry for my bad english, i know that nobody can understand my point :/

I understand your question
The point of this coin is to act as an experiment to see what will happen to ltc when all coins have been created and because I thought it would be an interesting experiment. With regard to the risk, like most alts (and btc itself), price is driven purely by speculation so that argument can be made for most any coin. I don't believe there are any "risk free" coins (if there are then I want some )  

[nearmiss]

how are transactions processed, with no one mining?  What do tx fees look like?