i have benched it, it's a project that takes time and does not have a targeted use yet. One of my ideas can be applied to it, it is called "Derived value alternate currency" simply put there are some good alts that failed to reach exchange, so, we can grow our community my including them. We do this by implementing a hard limit set trade-off
Coin A has 20000000 cap but only 10000000 have been mined at Limit date
Coin B has 1000000000 cap and 60000000 have been mined at Limit date
Coin C has limit 100000 cap and 99000 have been mined at Limit date
Coin D has limit 10000000000 cap and 6500000 have been mined at Limit date
So, Noirtokens would have say a 100000000 cap, of that 15% is mined in the first block, this is then entered into an automatic escrow service that has the Limit date set for each coin, meaning coins minted before the limit date can be traded directly for NRT. By having a maximum of 24 coins we stand to bring in members of those small 24 communities into ours thereby making ours much larger.
Using the number 24 we can say 1st class coins are only 4, second class coins are 8 and 3rd class are 12.
Of the 15% money supply allocated to these coins 1st class gets 7% second gets 5.5% and 3rd 2.5%.
Now it becomes maths, 4 coins take 7%, between them they share it equally===1.75%, so if there exist as i pointed out in A, B , C and D then all the coins mined on each chain up to Limit date are equivalent to only 1.75% of the total money supply for NRT.
The vetting process has been discussed in length by me and digitalindustry, we found that if we list coins we think have potential (with suggestions from ya'llz) we can then let the community vote.
The criteria is simple
- No Premine or very small one
- Chain should still be active, we dnt want to have to restart it ourselves
- The dev should give the go ahead, or if he does not respond at all, we go ahead
- Coin should be at least two months old and show actual signs of dying out
- Chain should not need repair by me or anyone working with the NRB/NRT core team
- It has to work, as in there are coins that just did not work, i loved one coin, but it would be hard to implement
The groups for coins are chosen based on votes, so each one counts. if you have some old coin lying around and wish to get back your investment, this would be a good option. The overall goal is a larger community, with massive hash strength.
We can then place a cross trade from NRT to NRB, see, we can say that 1 NRB = 20 NRT, that is an effective increase on the money supply on NRB without altering it's code and devaluing it. Eventually, the escrow is closed, after the window period is over. All deposited coins are destroyed, leaving only holders of NRT and NRB...our gold and silver. This means that the only way of gaining shares at this point is buying or mining.
(EXPERIMENTAL) Rather than having useless hashes on the Blockchain Later on Bank Transactions and some securities measures will utilise that data as random security keys and generate highly encrypted BOSS keys that will allow users to manipulate their accounts with no fears. 2FA is a great idea but it requires too much effort, instead i am thinking of a once off per device method as i will encourage this to be mostly mobile operated.
Most of this stuff is new to me so i'm trying to drink my coffee, put on some pants and drive (so to say). One thing is clear though, i can't do it alone. If anyone has any ideas, these are the dying moments so speak up before I publish the NRB update.
