As Promised: HEADS UP! Miners' Coin Coming!

[Vlad2Vlad]

I promised you guys at least a 3 day heads up warning for any coin I launch and here it is.

The coin will be Nuggets (The first true Miners' Coin) and I am designing it from the ground up, with lots of feedback from many miners and before all else, with the average, struggling miner in mind.

Every coin out there focuses on everything and everyone else but none out the miner first - the lifeblood of any successful coin - yet the masses - the large majority of miners get no real specific edge or benefit for their efforts and contributions.

I wanna change all that!

Nuggets will have no premine, no instamine (the first true fair launch per the people's specs and demands, and not my own desires and so fair that Miners even chose the name no sneak launch, as promised a minimum 3 days heads up for hackers to kill the coin if this is another CrapCoin) and I will add a new feature [I learned in Economics and Finance back in College years ago) never before seen or heard of, called the VGB protocol, which I will detail right before launch so prevent theft before my own launch.

On a % basis the VGB Protocol will favor and more generously reward the smaller miner - the smaller the miner the nicer and more rewarding the benefit.  It will also help the solo miner but also the pool miner.

The higher the difficulty goes - this new, never thought of feature (the VGB protocol) will ensure and guarantee that mining a high difficulty coin will not result in a boring flatline effect, which many coins are now plagued by and as the masses come in, mining will become more boring and less and less rewarding - so this VGB protocol will greatly help with this fundamental flaw in all coins out there right now. 

I guess it took an Economist to see what very smart computer guys, programmers and hackers missed all this time.  lol.

This new VGB feature will make mining more interesting, unpredictable (in a good way) and more fun and exciting for everyone - but especially for the average and smaller miners.

It will be fully inclusive - meaning big miners will be happy to mine it while small miners will be even happier to mine it.   It's a win-win coin for everyone involved.

The distribution of the coin which not all may love this particular idea will be like this, and this is where you have to give me a bit of trust, because this is also meant and designed with the smaller miner in mind although once again, this is a democratic coin and i promise nobody will be excluded. 

In discussing ways to level the playing field, "Zas" suggested rewarding all miners with 10% of the mined coins straight across but that would be impossible to code and it's ripe for abuse but I love the idea so much that I can't let it go.

So here's my plan:  I get 1% of mined coins (no premine and no instamine), miners get 89% of all mined coins and then 10% of all mined coins will be put in either an escrow account or a specific wallet which can be verified by everyone and anyone to show I'm not spending it.  I promise full disclosures and full oversight in any way you guys choose to implant such a watchdog.

Once we can all come to some fair understanding I will then distribute ALL of those coins, every penny back to the miners.  So then the miners get 99% of these coins but the idea is that this 10% distribution will be a flat reward which means that even the big miners get a reward but the same exact (flat) reward will be given to the small and smallest miners so on a % basis, relatively speaking, the small miners will feel a much greater benefit.

The idea is to help newbies and small guys who can't afford to keep buying hardware - this 10% reward, combined with my VGB Protocol, should really help the fast majority of miners, especially the smaller struggling miners, before the masses of people come online probably next year and you all lose the control you none possess to make a coin especially for yourselves. 

This is a win-win for everyone and I will do anything it takes to show people this is not a pump and dump.  I will do all I can to put the power and the reward system in the hands of the miners. 

This is the first coin which gives a damn about this alt community and so this coin is made specifically with the miners in mind, before all else and if it succeeds many small miners should see immediate and wonderfully uplifting benefits which will help many of you reach the next level of income and revenues. 

Good luck guys!

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[Eli0t]

KFCoin yum, but interesting on the small miner bias

[Vlad2Vlad]

KFCoin yum, but interesting on the small miner bias

Lol. KFC...it's supposed to be gold or coal nuggets since its a miner coin but I thought about chicken nuggets too and wait until the exchange name pops up (NUG) all the pot lovers will buy it up.  Lol.

Pretty much every aspect of this coin was chosen by the people.  Except the VGB Protocol which is something I learned in Economics many years ago.

Thanks for chiming in.  Would you support this coin if it took 10% out for the miners, while leaving 89% for the miners as well?

And of course, I know people wanna hear what this VGB protocol is first and I'll let that be knows soon.  But I think most people if not all will love the idea.

Nothing like that exists which shocks me.  Perhaps since I'm an Economist I think on a different level while most people here are too technical to think up something like the VGB.

Thanks for your input, bro.

[Vlad2Vlad]

I gotta step out for a couple hours guys.

I'll check back in.  Please post your support, opinions, criticisms, and any last features you'd love to see and if I can afford to add it I will.

I keep asking but nobody will speak up.  This is the miners coin, make it your own, make it the best it is.

Like the design - I want the best coin in the world as far as looks go, that's my face, your face.

All coins out there are Mickey Mouse - copy cats of bitcoin which itself had a lame design.  I want memorable originality I want people to love the coin the second they see as when the masses come in next year many will buy a coin based on the name and looks alone.

Holla back!

[simichent]

sounds interesting

[AgentME]

Cryptocurrencies aren't supposed to be a get-rich-quick scheme for miners. Miners exist to secure the blockchain for the currency. Getting that backwards does not sound like a good idea.

So here's my plan:  I get 1% of mined coins (no premine and no instamine),

lol

miners get 89% of all mined coins

That's even less than currencies that don't revolve around miners btw.

and then 10% of all mined coins will be put in either an escrow account or a specific wallet which can be verified by everyone and anyone to show I'm not spending it.  I promise full disclosures and full oversight in any way you guys choose to implant such a watchdog.

I do not follow. This also doesn't sound like much of a decentralized trust-not-required currency (as in, a big reason many of us like bitcoin).

[Lauda]

So of the details need to be worked out, at-least in the post, but sounds interesting 

[Vlad2Vlad]

Miners would essentially get 99%, the 10% would be set aside for miners to help level the field a bit while never excluding the large miners.  It's win-win for everyone.

And why is 1% funny?  You think devs work for free?  Most take much more than 1% via many clever schemes.

At least I'm being forward.

Here's the problem thought regarding the 10% set aside for the miners.

I talked to the programmer and he's saying it can't be set aside in a special wallet, at least not in an easy affordable way.

So the only option now is a premine of 10% which would be put in either an escrow, a public wallet with anyone being able to view it or any other option you guys can think of.

I really don't want to walk away from the 10% idea csuse it would really help everyone but especially then smaller and new miners - relatively speaking.

Can anybody suggest a better solution as I really want to avoid a premine. 

And if there is no other option than a premine would most people here be ok with an escrow account or a premine which would go into a public wallet monitored by miners until minder decide the best way to distribute the coins? 

I'm ok with any way you guys want but I'd prefer to not abandon this 10% idea as it would greatly benefit the average and smaller miners.

Anybody?  TIA

[Vlad2Vlad]

So of the details need to be worked out, at-least in the post, but sounds interesting 

This is the money's coin, you guys need to tell me ASAP what would make you guys happy.

I can eliminate the 10% but it would be such a list benefit to you guys.

And wait until I release the VGB protocol - that's the cake with the 10% distribution being the icing on the cake.

I promise there's nothing out there right now, no coin that was designed with the miner in mind like this coin.

And of course, devs design a coin to maximize their control over that coin and their profits, shirt term or long term.

I'm going against the Status Quo with this coin - and if you wait to hear the full details I'm sure you'll all agree.  Well, most, cause some will hate no matter what.  Lol

[Vivisector999]

Dump the 10% plan.  It's only going to tick people off, and won't end up helping small miners as it is way to exploitable, and also centralizes a decentralised coin.  I still want to here what this big VGB idea is all about.  I really hope it's not a flop of an idea.  Hopefully the programmers will talk some sense into you if it sounds to screwy .

 

[markm]

How are you going to even create so much as a shallow illusion of an ability to tell who is small and who is large, let alone actually tell?

-MarkM-

[Vlad2Vlad]

Dump the 10% plan.  It's only going to tick people off, and won't end up helping small miners as it is way to exploitable, and also centralizes a decentralised coin.  I still want to here what this big VGB idea is all about.  I really hope it's not a flop of an idea.  Hopefully the programmers will talk some sense into you if it sounds to screwy .

 

Well, so far the programmer who has already launched other coins said the VGB idea as really nice.  And he also said my ambitions are too high and I'd need more money and more programmers.

So this confirms to me that I'm serious about this and don't just want a jack job crap coin.  But where am I gonna find more great programmers and I don't even know how much more money we're talking about.

I really wanna do this right but it doesn't seem possible.  I hate to launch another CrapCoin, I hate the idea of mediocrity. 

And I have to apologize to guys like MarkM ahead or time cause I respect the guy and like him and he got upset when he heard o was launching another crap coin.  But what can I do if I can't even find enough pro programmers and don't even know the cost. 

[Vlad2Vlad]

How are you going to even create so much as a shallow illusion of an ability to tell who is small and who is large, let alone actually tell?

-MarkM-

The VGB does that automatically and without a flaw.  The distribution of the 10% if I have to premine it is the hard part, cause I don't want to premine but the programmer said that's the only feasible affordable way and that my plans are too ambitions.

Come on MarkM, help me not launch another crapCoin.  Help me with just the idea of how to distribute this 10% to the miners in a fair way without premining cause right now it will have to be premined and that's gonna look like a pump and dump and I hate the very idea.  Thanks for your help.

[Vivisector999]

I hope you realize, I am being critical on you because since I named the coin, I feel like I have a tie or lifeblood with it.  Not like it's mine or anything, but kind of like when you go on a summer vacation and meet your cousins that live 1000 miles away, that you knew existed, but you actually never met before.

Thus no matter how silly it is, I will more then likely mine it.  How much I will mine it is questionable, but I will def be mining it, so I am hoping to steer it away from having really wonky ideas.

[ohiwastedmylif]

You keep begging third party devs( mainly junk coin developers) to build your coin for you,

what is the realistic longevity for this coin?

Hire them on full time or just contract basis for each update?

Which developer did you end up going with?

[Vlad2Vlad]

I hope you realize, I am being critical on you because since I named the coin, I feel like I have a tie or lifeblood with it.  Not like it's mine or anything, but kind of like when you go on a summer vacation and meet your cousins that live 1000 miles away, that you knew existed, but you actually never met before.

Thus no matter how silly it is, I will more then likely mine it.  How much I will mine it is questionable, but I will def be mining it, so I am hoping to steer it away from having really wonky ideas.

The name came from brainstorming and a number of people had a hand in it.  Nuggets stuck and yes, if this coin takes off you get the honor for naming it.  I could have named it myself but I felt like a miner's coin should be named by miners - since the beginning I've been trying to do what's right and it seems like some people just hash away on me regardless of how hard I try to do what's fair and right by everyone.

[zackclark70]

when its up I will run a giveaway for you if you provide the coins 

I would also suggest posting the ann on www.altcointalk.co.uk

[Vlad2Vlad]

You keep begging third party devs( mainly junk coin developers) to build your coin for you,

what is the realistic longevity for this coin?

Hire them on full time or just contract basis for each update?

Which developer did you end up going with?

Begging?

When you pay someone to do something it's not begging.

When you go to a restaurant and order a steak and then pay for it would you like it if some guy outside told people you were in there begging for food?  Hardly!

These are not junk developers.  They have experience launching other coins and they're actually the most expensive here.  I could have gone with the cheaper guys but I thought I'd get more from going with someone with integrity and experience.

The longevity depends on the adoption rate and if people like what the coin offers.  I'm looking at it long term, for years to come of the govt allows it that long.

[Vlad2Vlad]

when its up I will run a giveaway for you if you provide the coins 

I would also suggest posting the ann on www.altcointalk.co.uk

I won't have any coins since there's no premine.  It seems like people are agent even the 10% premine which would then go right back to the miners.  Sad, many miners could benefit.

[ohiwastedmylif]

You keep begging third party devs( mainly junk coin developers) to build your coin for you,

what is the realistic longevity for this coin?

Hire them on full time or just contract basis for each update?

Which developer did you end up going with?

Begging?

When you pay someone to do something it's not begging.

When you go to a restaurant and order a steak and then pay for it would you like it if some guy outside told people you were in there begging for food?  Hardly!

These are not junk developers.  They have experience launching other coins and they're actually the most expensive here.  I could have gone with the cheaper guys but I thought I'd get more from going with someone with integrity and experience.

The longevity depends on the adoption rate and if people like what the coin offers.  I'm looking at it long term, for years to come of the govt allows it that long.

When you say hey I sent you pm's answer me, hey who else can do it, hey help me build this. I don't have a job, you charge too much. I consider that begging. Your example is completely irrelevant and baseless.

My rationale is that if you yourself are unable to do anything, and require third party resources to develop, how do you get from alpha to beta to release etc. I am assuming you are contracting out the initial job but it will be most beneficial to have the OG dev on-board to continue development. Are they on-board as well and are committed to long-term development?

Your attitude makes me especially not want anything to do with this.