Pilipinas (Philippines)

[Dabs]

So many things to think about ... LOL ... But for starters, everyone who submits valid credentials will get "airdropped" their fixed "free" coins. The rich will probably buy or mine anyway, nothing we can do about that.

The poor, will just HODL whatever free coins they get, and the unfortunate many who don't have a roof over their heads, much less a computer or cell phone to do any crypto transactions, those who don't have any valid IDs even if they were born here, that's another problem.

No, I do not have any ties to the government, and I don't think we want this to be backed by the government. (Or else all the powerful ones will attempt to regulate it, and the coin dies). My only ties are that I am in the military, and I know several policemen (mostly the chiefs of every major city) and their mayors. But again, we probably do not want this coin to be government at all. It has to remain in private hands.

The full nodes, the miners, the users, the community. No one will have any advantage other than if they are already rich and will buy their coins.

It's not just PNB, I think Banko Sentral issued a notice or a warning about virtual currencies. It's your typical government warning that bitcoin is not regulated, therefore they (the government) can not protect you from scams.

Personally, you should be able to protect yourself by studying whatever it is you are getting involved in.

As corny as it sounds, this kind of coin is for the people (a lot, but not all, sorry, can't really help the very poor), by the people (again, by the few of us who are willing to start this).

Maybe I can create another thread to discuss this if there is more interest. I don't really want to start something that I can't really finish, not without help anyway.

Scrypt / SHA / Proof of Stake or pure Proof of Work ... all these technical details can be discussed and voted on, but personally, I think we should just go with plain Proof of Work, study the block retarget strategies of the recent coins (KGW, DGW, whatever), and give some real incentive for miners to remain with the coin. On the technical background, miners and full nodes need the most incentive as they end up the back bone of any coin.

The users, that's another issue, and of course, no matter how hard we try, there will be some sort of politics. As I've already given this idea, I'm sure I'm not the only one, and anyone who doesn't like this one, will attempt to make another one ... ... or anyone who doesn't like anyone involved in this one, will do another one, or anyone who doesn't like me, will make his own coin to compete with mine.. It gets messy and diluted quickly.

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[lumeire]

We don't want the government to get involved, otherwise we risk ruining the project's credibility. Transparency is a must for this. The distributing body can be set up as a non-profit.

Yeah we need a poll, so we can see how many are interested.

[NLNico]

Personally I would probably not send my passport even if you would give me 1 BTC. Nothing personally towards Dabs, I would trust him with money as escrow. But my identity is definitely worth more. Just something to think about The idea of a PH coin is good I guess. Can promote cryptocoins in general.

(as a foreigner with alien registration (ACR I-Card) and stuff I would be eligible if I understand it correctly :p)

[Dabs]

Personally I would probably not send my passport even if you would give me 1 BTC. Nothing personally towards Dabs, I would trust him with money as escrow. But my identity is definitely worth more. Just something to think about The idea of a PH coin is good I guess. Can promote cryptocoins in general.

(as a foreigner with alien registration (ACR I-Card) and stuff I would be eligible if I understand it correctly :p)

If I'm put in charge of verifying identities, I won't keep your information. In fact, I think I'll do a ceremonial burning of all info after you have received your coins, and the rest of the public is satisfied (more or less) that only those who are truly eligible get their claim.

However, that instills a certain level of trust, and if anonymity is to be preserved someone (me?) will have to keep the secret a secret.

I have poor memory, so you can trust I won't remember your details. But computers will have to be wiped, and papers will have to be destroyed (burned, shredded or both).

Obviously, sending your real or original cards / passports / etc will be costly, so I think most people will just come in person, give certified photocopies, and show the originals.

And yes, @NLNico, you should be eligible.

My thinking is to actually place the value of the coin as close to the local fiat currency as possible, meaning 1 PH-Peso =~ 1 PH-Coin (or whatever is the name of the coin.) But we all know the value will move eventually.

The distribution is the tricky part. Would it be fair for whoever does this to get compensated? May they hold the "pre-mine" of the air drop and "sell" it in addition to giving out free coins to those claiming them? Full accountability and transparency is easily achieved since this has a blockchain.

The whole thing is tricky. I'm pretty sure, no matter how hard we try, this will never be perfect.

I can already see, the very poor poor, will get some stoopid lawyers and complain ... (think strike, like the ones launched by the local labor unions, which usually results in the strikers becoming jobless.) I've survived a bankruptcy several times...

[anonim]

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[goldenpay]

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[lumeire]

The distribution is the tricky part. Would it be fair for whoever does this to get compensated? May they hold the "pre-mine" of the air drop and "sell" it in addition to giving out free coins to those claiming them? Full accountability and transparency is easily achieved since this has a blockchain.

The whole thing is tricky. I'm pretty sure, no matter how hard we try, this will never be perfect.

I can already see, the very poor poor, will get some stoopid lawyers and complain ... (think strike, like the ones launched by the local labor unions, which usually results in the strikers becoming jobless.) I've survived a bankruptcy several times...

That's fine, in fact a small portion of the 'pre-mine 'should be allocated for that purpose, shouldering the cost of distribution like manpower, campaign materials, printing (in case we go the paper wallet route), food etc...

IMO I don't see anyone wanting to sue the project besides the government.

[Dabs]

I think that might set the value initially. I premine some coins, part of it goes to paper wallets (cold wallets) which can be imported into any client. No need to find out who you are, just pay cash in person, or bank deposit, or send BTC.

The paper wallets will come in 1000, 5000, 10000 peso denomination equivalents or something along those lines, as selling 1 peso coins is just absurd.

Those far away will need to know how to use GPG, so I can safely email you the private keys. (Like, I am in Manila, but you are in Cebu or Davao, and we don't have people there.)

Other things to think about are time, deadline, how many months do we give the public to claim their free coins ... what if the government decides they don't like it ... see, the start of this thing will be centralized.

In 3 or 6 months, the original organizers can "disappear" and others take over, once the code is there, once the network is going and people are mining, the hash rate is healthy, lots of local exchanges are working, and no one can stop it.

But then again, if it ever takes off, it will be a some what competitor to GCash, SmartMoney, all the banks and their remittance stuff, and maybe one or two other coins that started here.

[jodybay]

I think that might set the value initially. I premine some coins, part of it goes to paper wallets (cold wallets) which can be imported into any client. No need to find out who you are, just pay cash in person, or bank deposit, or send BTC.

The paper wallets will come in 1000, 5000, 10000 peso denomination equivalents or something along those lines, as selling 1 peso coins is just absurd.

Those far away will need to know how to use GPG, so I can safely email you the private keys. (Like, I am in Manila, but you are in Cebu or Davao, and we don't have people there.)

Other things to think about are time, deadline, how many months do we give the public to claim their free coins ... what if the government decides they don't like it ... see, the start of this thing will be centralized.

In 3 or 6 months, the original organizers can "disappear" and others take over, once the code is there, once the network is going and people are mining, the hash rate is healthy, lots of local exchanges are working, and no one can stop it.

But then again, if it ever takes off, it will be a some what competitor to GCash, SmartMoney, all the banks and their remittance stuff, and maybe one or two other coins that started here.

i wonder how can we submit you the documents??

[richlee]

Looks promising. How fast does it take to develop and launch an altcoin ba?

[Gaman]

How about we sell paper wallets of it in prepaid card form?

[lumeire]

I don't know guys, but isn't selling at a fixed price means centralization? Critics would just view the whole thing as us trying to milk the whole project.

[Dabs]

Looks promising. How fast does it take to develop and launch an altcoin ba?

@richlee, well, we need a dev, or a dev team first, who won't disappear. I know a few people, dunno if they'll stick around long enough.

@Gaman, that's the idea. Paper wallets with "load" already.

@lumeire, it will only sell at the fixed price until the initial premine is all sold, then the market will dictate the price later on. There will always be critics. Litecoin has critics. Even Bitcoin has critics. All alt-coins are lower in the food chain so we will have the most critics.

[Dabs]

By the way, anyone interested in a 5.4 Terahash bitcoin miner? Only $4500 USD. I need just one buyer. More is merrier. To be shipped directly you to you from manufacturer, delivery date is August. (Yes, it's a pre-order, it's a Group Buy.)

For the favor of buying through me (or even just mentioning me, since you pay them, unless you want me to hold the coins), I'm supposed to get a smaller miner to review, which you can buy from me cheap after I'm done with it.

[goldenpay]

hi all ,

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[richlee]

Looks promising. How fast does it take to develop and launch an altcoin ba?

@richlee, well, we need a dev, or a dev team first, who won't disappear. I know a few people, dunno if they'll stick around long enough.

@Gaman, that's the idea. Paper wallets with "load" already.

@lumeire, it will only sell at the fixed price until the initial premine is all sold, then the market will dictate the price later on. There will always be critics. Litecoin has critics. Even Bitcoin has critics. All alt-coins are lower in the food chain so we will have the most critics.

Thanks Dabs. Yes, I agree about having committed devs.

[lumeire]

Will the dev team of TAG be interested? 

[Dabs]

Will the dev team of TAG be interested? 

I asked Mark some time back. Actually, he brought it up. But in the end, I think he wants to focus on just TAG. That is currently acting as the country coin, but they're busy doing "stuff".

I do believe that a country specific coin, with a wider distribution / airdrop / mining etc, and a few changes in the parameters, while initially centralized, eventually having a life of its own after launch, would be better.

Although you could say, just grab one of those new miners coming out, and you're part of the distribution.

[goldenpay]

need some btc / ltc / doge again , contact me if get , ty

[Dabs]

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