Some of you may have heard a little about Project Infinite, well, I am here to tell you that we are entering the final stages and we will be needing beta testers in the next couple of weeks.
There are 100 slots available, so if you want to try out our amazing idea, be quick! The first 100 people to post their interest will be accepted. The counts will be for both here and altcointalk where there will be a beta testers discussion area.
The beta test will consist of each person saving 10,000 Infinite coins for 10 days at 100% interest. So to take part you will need to have 10,000 Infinite coins in hand. You can purchase them at cryptsy.com if you don't already have some.
For those of you that don't know about Project Infinite, let me tell you a little about it...
Project Infinite is now called AltCoinSavings, it is essentially a decentralized savings account... It is decentralized in the sense that your coins are not kept on some server somewhere, or in a air bridge vault in someones office. The coins will stay with you the entire time! That's right!
Let me explain the process so you can better understand.
When you sign up you will be required to download a slightly altered wallet. The source code will be available to view so you know nothing untoward is going on there. The only changes that are made are to the name of the wallet and to some directories that will allow you to have 2 wallets on the same PC.
There is a reason for this of course and that will become apparent soon enough.
So, you have downloaded the wallet and let it sync, now you can choose one of the contracts on offer (though in the Beta there will only be one, as described). The contracts will vary depending on the current price of Infinitecoin. There will be a maximum limit so that we can offer this to as many people as possible.
When you pick the contract you will be asked to deposit your chosen amount into your IFCsavings wallet that you downloaded and hit start once the coins have cleared. From there, we will do the rest! Once you have deposited and hit start we will use a blockchain explorer to query the address you provided, it will check the balance and if it comes back okay your contract will begin! All you have to do is leave the coins in the wallet for the specified amount of time. If you move the coins out at any time then the contract will be void and you will lose any interest you had earned. We will know when this has happened because the block explorer will be constantly monitoring the IFCsavings wallet.
This is why we need the second wallet, you can not use this wallet for anything else or the wallet will create a new address and throw the block explorer off resulting in you losing the interest earned.
Now to top all this off you will be able to view your balance growing with a real time ticker!
This all sounds great, but how will you pay for the interest? You may ask, well, to get things going we have 1 Billion Infinite coins. But to replenish the pot we will be using advertising revenue. So we will encourage all of our members to please at least consider visiting some of our partners, and that is it.
There will also be the option to donate and many other ideas that we have in store!
Don't think of AltCoinSavings as being the end of Project Infinite... It is merely the beginning!
DISCLAIMER: The wallet is new and in alpha phase at present, please only use it if you know what you are doing. The source code here is mainly so that developers or people that can read source code can look over it to see that nothing sinister is going on. Please use this at your own risk
As promised here is the source code for the IFCsavings Wallet. If someone could have a go compiling it that would be fantastic (our guy is a linux man).
