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Author Topic: [ANN] TagCoin - the official currency and blockchain for Tagcash.com  (Read 250131 times)
tagbond
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October 24, 2013, 06:00:27 PM
 #1

UPDATE - Tagcoin has recently upgraded to v2 of all clients and source code - please upgrade your software accordingly

Tagcash.com is an ewallet platform, operating out of Manila, Philippines, where it operates a digital cash wallet in Pesos for cash in and out, user transfers, remittances and merchant payments, as well as extra services including airtime purchase, salary payments, bill payments, peer to peer lending, gifts and delivery services where the TAG digital wallet can be used. Cash in our out is via most high street banks, via 7-Eleven, via agents or as Bitcoin. Payments can be made with merchants who cash out to bank or if located outside of the Philippines, withdraw as Bitcoin, thus enabling sales to be made by foreign companies to the millions of Filipinos who do not have credit cards. Tagcash has a workforce of approximately 40 staff.

Tagcoin is used as the blockchain behind all transfers in Tagcash - every user with an account in Tagcash has balances reflected in Tagcoin at current exchange rates decided by Tagcash and other market forces. In essence, when a transfer happens in Tagcash, it is the same as that user buying and selling tagcoin, but this is hidden to make it simpler for customers to use their own currency. Tagcash is also a platform for closed loop currency, and anyone creating their own points or rewards system has the option of using the TAG Blockchain to backup their currency.

Tagcoin is PoW / PoS coin, paying a dividend of  5% per year on coin balances that are older than 30 days, earned by opening the wallet to the outside world (which helps keep Tagcoin stable).

The price of Tagcoin is expected to rise as the total local currency balances of all users and merchants rise within Tagcash.

Launched in November 2013, there was no premine - Tagcash buys Tagcoin on the open market, both for use and for investment just like anyone else.

Tagcoin is mined and traded mostly in China (btc38.com and bter.com) but Tagcash has recently added a trading platform into the tagcash site so merchants and users can buy and sell Tagcoin for local Peso currency. Deposits can be made via Bitcoin which is converted to Pesos or Tagcoin can be deposited directly. Trading is done as TAG/PHP pair. We may introduce BTC/TAG trading in future.

About TagCoin
We designed TagCoin with the following objectives in mind:

A little bit about the parameters we've chosen. 4 minutes between blocks is a happy medium between speed and sustainability. Faster coins will run into many problems down the line, the least of which is blockchain bloat. As we intend to support TagCoin for many years to come, these are big issues.

Subsidy reduction has been rethought. Halving every X amount of blocks, like Bitcoin, is very unnatural and "shocks" the market every halving. Accordingly, we've decided to introduce a more natural reduction formula for Tagcoin. The subsidy will reduce by 1% every 3 months for the life of the coin. Additionally, there is a minimum block reward of 3 set in place, as to always encourage mining. Sustaining mining solely on fees is problematic; Bitcoin will have to deal with this somewhere down the line, but Tagcoin will not. Less than 100 million coins will be generated in the first 30 years before this minimum block reward has been reached.

Technical Specifications

PoW/PoS hybrid
POS Interest Paid per year: 5%
Algorithm: Scrypt
Coins per block: 27.2
PoW Subsidy reduction: 1% every 3 months, minimum reward of 3 coins
Time between blocks: 4 minutes
Retarget: The same algorithm that PPCoin uses; exponential easing towards the target spacing time.

Network Port: 8623
RPC Port: 18334

Get TagCoin
Windows, Ubuntu, Mac and Source code available on http://tagcoin.org website

Pools
http://tag.cryptopools.com
http://http://sky-pool.com

Exchanges
http://www.btc38.com/trade_en.html?btc38_trade_coin_name=tag
https://bter.com/trade/tag_btc
https://bter.com/trade/tag_cny
https://www.coingather.com/exchange/TAG/BTC

Block Explorer
http://tagcoin.org/tagexplorer/www/

Support
http://twitter.com/tagcoin
http://facebook.com/tagcoin

Pricing Calculator (TAG/BTC against multiple Fiat Currencies)
http://vskype.com

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October 24, 2013, 06:12:10 PM
 #2

Extremely interesting, let's see what happens.

Coin seems to be doing well.
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October 24, 2013, 06:14:44 PM
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Yeah ... interesting
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October 24, 2013, 06:15:37 PM
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Looks promising, first alt coin base from Philippines hell yeahhh i will support this all the way Wink

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October 24, 2013, 06:26:07 PM
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sha256, scrypt, scrypt-jane?
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October 24, 2013, 11:56:51 PM
 #6

Seems pretty interesting. I'd rather see some more details on the actually coin. All I know that its named TagCoin, and thats it.

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October 24, 2013, 11:59:14 PM
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sha256, scrypt, scrypt-jane?
+ coins per block, kinda basic need to know things

LTC:  LKpJf3uk7KsHU73kxq8iFJrP1AAKN7Yni7  DGC:  DKXGvEbj3Rwgrm2QQbRyNPDDZDYoq4Y44d  XPM:  AWV5AKfLFyoBaMjg9C77rGUBhuFxz5DGGL
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October 25, 2013, 12:31:38 AM
 #8

sha256, scrypt, scrypt-jane?
+ coins per block, kinda basic need to know things
I think this is the only [ANN] that has not included these details. Sounds like a carbon-copy coin. All of the features listed don't actually require a new coin, but could be built upon existing coin.
"Fairness - Difficulty will start out at a reasonable value so no one can get an unfair advantage" i.e. Pre-mined a bunch before launch?

This might be totally legit, but I'll take tech specs over a fancy bio anyday.

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October 25, 2013, 12:38:33 AM
 #9

Am I the only one who can read? Huh

Further details about TagCoin will be posted when it officially launches on Oct 27 at 2PM EST.

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October 25, 2013, 01:38:14 AM
 #10

If you have reviewed the site http://tagbond.com/ you could see additional information, including a full staff.

He is trying to build a complete business with the coin as a supplement and a way to IMO access funding thru other digital currencies.  I like how they are including RFID along with QR Codes as things are headed sensor based.  This interests me a lot, and not just as a alt coin but as a business.


Which is why I find it quite interesting. Also that you have a coin that is developed by a company which means you have a multiple developers to fix problems that seems to come up with new coins. Also creates a point of centralization for the coin. If a company controls all the major products, services, and exchanges for a coin, are they going to provide coin support for other people with competing products and services they may or may not be better. Also allows for easy price fixing and premining.

Bitcoin Dev / Storj - Decentralized Cloud Storage. Winner of Texas Bitcoin Conference Hackathon 2014. / Peercoin Web Lead / Primecoin Web Lead / Armory Guide Author / "Am I the only one that trusts Dogecoin more than the Federal Reserve?"
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October 25, 2013, 02:09:37 AM
 #11

More than 2 days pre-announcement it's nice!  Smiley

If you have problems with TagCoin network discovery add node 168.63.12.227 to params of the wallet, example:
Code:
tagcoin-qt.exe -addnode=168.63.12.227
or to tagcoin.conf, example:

Code:
addnode=168.63.12.227
[/quote]

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October 25, 2013, 02:17:50 AM
 #12

We'll see how it goes...
Potential, yes.... though... it's not Curecoin.

Fold Proteins, earn cryptos! CureCoin. https://bitcointalk.org/index.php?topic=268556.0
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October 25, 2013, 03:18:33 AM
 #13

What cryptos will you be adding to your exchange and welcome to the crypto world with your coin.
tagbond
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October 25, 2013, 05:28:22 AM
 #14

@Eli0t @super3 - the full specs will be released on Sunday, not before. All I can say is that it will be a fair coin, with a new twist. We are not going to try and control it, but we do want some branding on it, which is the main reason for doing it.

We don't need to fund further growth using the coin itself, but it is part of the overall plan for growing awareness of the TAG brand. We would like the coin to be used as a stable currency and not just for speculation, we have no plans to manipulate pricing or to control it. It is in our interest to make it grow but also to keep it stable. Anyone who knows me, knows that I don't do these things for the money, I do it to change things that I think could be done better. If they make a little profit as well, that just helps me create more.

Within Tagcash we will be adding only Bitcoin and TagCoin as crypto wallets

My original idea at start in February this year was to create a centralized rewards currency that could be shared and used everywhere, but that had several disadvantages - that was before I learned more about Crypto, and this seems to fit the bill much better. I could have used an existing currency, but nothing really suited what we needed, hence the creation of TagCoin.

It is a grand experiment, but our business model does not depend on it. The Tagcash model is based on Google Adsense and Groupon, and to make that work we need fluid use of currencies, with no friction, no credit cards no chargebacks etc. A business creates a marketing "tagvert" (coupon, loyalty card, tickets, shopping cart etc), which is free and then has an option to reward anyone for sharing that on facebook, blog sites, via email, in person etc, but ONLY when that is redeemed at the merchant. So it is in effect an affiliate system that is much fairer than paying for clicks. A business only pays on results, and we take 30% of that referral income. That's the revenue model.

For example, vtc.com creates discount coupons, and gives out Tagcash Credits when they are shared on Facebook and when someone buys a subscription with VTC. Tagcash then pay out these rewards using Tagcoin. It's a better system that Google adwords, at least for VTC

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October 25, 2013, 05:57:43 AM
 #15

iS IT A QUARK FORK??
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October 25, 2013, 06:03:45 AM
 #16

Reserved..
Contact me if you need a pool ready for launch...

Minar.cc | DMD Diamond Coin Pool: dmd.minar.cc | CGB CryptogenicBullion Coin Pool: cgb.minar.cc | PHS Philosopherstone Coin Pool: phs.minar.cc | KDS Kudos Pool: kds.minar.cc | CRC CraftCoin Pool: crc.minar.cc | CIN Cinnamon Coin Pool: cin.minar.cc | PXL PXLCoin Pool: pxl.minar.cc | TAG TagCoin Pool: tag.minar.cc | BAC BaseCoin Pool: bac.minar.cc | STR Star Coin Pool: str.minar.cc | JPC Jupiter Coin Pool: jpc.minar.cc
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October 25, 2013, 07:08:37 AM
 #17

good luck, looks like a more professional launch than most.
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October 25, 2013, 07:38:59 AM
 #18

This looks like a really interesting coin/business model that has been really well thought out. BUT, I can't understand why the method of coin generation can not be revealed before the launch?  The coin launches 4am Monday my local time and I'll be really annoyed if I set the alarm only to find out that I need an ASIC to mine it...   Shocked

As an aside, if the coin/business model is as successful as you hope, there might be a certain watch company that might claim intellectual rights to the name Tag??

Want something for nothing? tagmining.com is offering 0% fees until the end of November!
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October 25, 2013, 08:04:10 AM
 #19

sha256, scrypt, scrypt-jane?

I want to know this.
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October 25, 2013, 08:09:32 AM
 #20

0/10 would not mine  Cheesy

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