[ANN] TangoCoin - An Argentinian Equally Distributed Cryptocurrency

[tangocoin]

I'm glad to pre-announce TangoCoin (TNG, ₮), the first Argentinian cryptocurrency, designed for the argentinian domestic economy.

I will try to explain why this coin is different to all other current coins and why it would be useful to the argentinian economy.

Why is TangoCoin different?
Half of the coins will be premined and distributed equally to all the population. The remaining coins will be mined by PoW+PoS.

Why Argentina?
Argentina currently is a country with very high inflation rate (25-30% y/y) and its domestic currency, peso (ARS), is devaluated on a daily basis (http://finance.yahoo.com/echarts?s=ARSUSD=X#symbol=;range=5y) so it's very hard to save or invest in pesos. The velocity of the money is very high and all big transactions (above 10,000 USD) are currently paid in american dollars.

Who will be able to ask for free coins?
Only natural persons who have a unique ID number of Argentina (DNI).

How will the coins be distributed to the population?
Each citizen will have to publish his tangocoin address signed with any certificate issued by any certificate authority approved by ACAP (https://pki.jgm.gov.ar/app/) and/or ACRaiz (https://www.acraiz.gob.ar/) or any future authority. After verifying the signature, 1000 TNG would be transferred from the escrow address to the citizen's tangocoin address. I will try to make this as transparent as possible (any ideas here are welcomed). However as not everybody already has a digital certificate, it is not possible to distribute unasked coins yet.

How can I audit the escrow address?
The escrow address will start with a 40 billion coins balance. Each transaction from that address will be verifiable that it was transferred to a signed tangocoin address (see above), verifying also the signature's uniqueness (so it wasn't asked twice).

What about interests in the escrow premined address?
It will be distributed too, so maybe it would be possible to distribute coins to the unborn future population too.

Can someone outside Argentina mine or use this coin?
Of course, I cannot forbid it.

When will it be released?
March 9th, 2014. (2014-03-09 01:00 GMT)
June 9th, 2014. (2014-06-09 01:00 GMT)


Technical specs:

Total coins: 80 billions TNG (plus 1% interest PoS).
Algo: scrypt (maybe scrpyt-jane)
Premined: 50%. Distributed: 1000 coins to each argentinian (current population: 40 million). None for me nor any collaborator, no giveaways.
Minitng PoW:
    1st year: 10 billions
    2nd-6th years: 5 billions yearly
    Last 5 billion coins: 2.5 billions, halving every year.
PoS interest: 1% yearly.
Blocks every 1 minute.
Difficulty adjusting every day.
Transaction messages

Anyone who wants to collaborate with this project is very welcomed. Any ideas are welcomed too.

Source Code (forked from GrowthCoin):
https://github.com/tangocoin/tangocoin

Topic en Español: https://bitcointalk.org/index.php?topic=385932

[illodin]

What an idea.  Someone should extrapolate the idea and create a coin where everyone in the world could get equal amount for free. That could create a lot of interest in media etc, and people who might have heard of cryptos but just haven't bothered with them before, might actually make the effort and install wallet's etc to get their free coins and start doing transactions with friends and family and so on.

Awesome for Argentina though if you can make this happen.

[lonesoul]

best way to keep half of an entire currency i have seen yet. +1 for building the foundations for the worlds largest alt coin dump ever seen.

[tangocoin]

What an idea.  Someone should extrapolate the idea and create a coin where everyone in the world could get equal amount for free. That could create a lot of interest in media etc, and people who might have heard of cryptos but just haven't bothered with them before, might actually make the effort and install wallet's etc to get their free coins and start doing transactions with friends and family and so on.

Awesome for Argentina though if you can make this happen.

Thanks!
I know it would be better to distribute to everyone in the world. But it is technically not possible to verify uniqueness.
Also, domestic currencies are more common than worldwide accepted currencies. So, I think it is better to replicate that, but well distributed!

[Philll90]

best way to keep half of an entire currency i have seen yet. +1 for building the foundations for the worlds largest alt coin dump ever seen.

+1!

[tangocoin]

best way to keep half of an entire currency i have seen yet. +1 for building the foundations for the worlds largest alt coin dump ever seen.

I will try to make this as transparent as possible. If you have any ideas to do that, i would appreciate that. It is very easy to verify digital signatures so it is possible to audit the escrow address permanently. Maybe I can release a webpage to do that too.

[weedoge]

best way to keep half of an entire currency i have seen yet. +1 for building the foundations for the worlds largest alt coin dump ever seen.

Yah if it even gets off the ground though...

[gorgorom]

What an idea.  Someone should extrapolate the idea and create a coin where everyone in the world could get equal amount for free. That could create a lot of interest in media etc, and people who might have heard of cryptos but just haven't bothered with them before, might actually make the effort and install wallet's etc to get their free coins and start doing transactions with friends and family and so on.

Awesome for Argentina though if you can make this happen.

Thats actually a good idea. If "Worldcoin" wasn't taken, we could use that. Have a currency based on a united earth, where everyone in certain areas get more than others e.g. Zimbabwe get more than say Canadians, because of our stance on our non-crypto economy".

What do you think?

[tangocoin]

Yah if it even gets off the ground though...

I hope so!

[sheinsha]

Interesting.. I could help with a pool setup for day 1
I would like to see how this turns out, I think most of argentines don't even know what those two ACAP or ACRaiz are.. It seems a little bit too complicated the way you proposed, but i don't have any other way either.

PS. PM sent..

[Slingshot]

+1


 This is a great concept for the developing world.

 My First impression: it seems to be a solid plan.


 A cel phone sms payment system would go well with this.

 Phone sms messaging for payments with multi-sigs.


 This is a winner for all the people of Argentina.
 


Best Regards!

[Dweeb]

I love the concept, by making it freely available you get the opportunity to involve new people in crypto who may never even have heard of it, and if enough Argentines actually take it up you have instantly got a crypto economy - people trading it amongst themselves for goods and services barter style even if no "official" outlet to use the currency exists.

I wish you the best of luck and am looking forward to seeing where this goes

[riterrani]

Here an Argentinian web developer. Please send me a PM if you need some help. What the world need to understand is that an alternative currency is something normal for us lol
TangoCoin? Why not MenemCoin? sorry for the bad joke

[Wolf Rainer]

Reserved...

[PokerDoberman]

Nice way to make Active Argetinian CryptoUsers Database

[Amph]

Reserved...

lmao

inb4 Rservedcoin

[tangocoin]

Here an Argentinian web developer. Please send me a PM if you need some help. What the world need to understand is that an alternative currency is something normal for us lol
TangoCoin? Why not MenemCoin? sorry for the bad joke

Hi! I know we used to have many alt currencies in the past.
Maybe we'll need a nice wiki for normal people to understand the basics. Could you do that?

Thanks!

[tangocoin]

Interesting.. I could help with a pool setup for day 1
I would like to see how this turns out, I think most of argentines don't even know what those two ACAP or ACRaiz are.. It seems a little bit too complicated the way you proposed, but i don't have any other way either.

PS. PM sent..

Hi! Thanks!
ACAP/ACRaiz are the best way I know by now. We could think alternative ways to add in the future.
I have just uploaded the source code to github if you want to see it, if you want github write access let me know. There are many changes to make but it's a start.

[mx19]

I like the idea behind it... Hope it works for you!

[miffman]

Good idea, lets hope the devs can overcome the temptation to dump the massive premine