REFCOIN - A COIN LIKE NO OTHER! Need developers

[djafer]

Dear Altcoiners,

One of the main problems with all cryptocoins in existence is their high value fluctuation. These fluctuations make them attractive as investments or trading opportunities but not as money. For Bitcoin, this problem will start to disappear when the valuation of bitcoin is over 100 billion Dollars, and probably will become irrelevant when bitcoin valuation will exceed 1 trillion dollars because the larger the behemoth the harder it is to make it dance. But we are not there yet. For all other cryptos the problem is even worse.

So how to overcome this problem?  We need to create an altcoin that will have built-in in its protocol several new features:

- Generate an initial amount of coins to attract interest from miners, for instance 1M initial coins.
- Once this level is reached (or a large % of all coins mined), the protocol switches to a new regime: from coin mining to coin monitoring.  
- Coin monitoring means that the protocol should check with a given frequency (for instance daily) several independant internet nodes to find out the equivalent price of the coin in dollars (could be in other currencies, gold, etc). These internet nodes should be well known exchanges.  
- Adjust the supply of coins to keep the value of the coin constant relative to the dollar: if people are buying the coin, then every owner will see an increase in his coin ownership, if people are selling the coin, then every owner will see a decrease in his coin ownership.  
- There should be a built-in voting mechanism to allow to add new internet nodes, remove old internet nodes.


Possible names for this coin: REFCOIN (RFC, ref = reference), DOLLARCOIN (DLR, name if the coin is related to the dollar), EUROCOIN if the coin is related to the euro, etc.

Let me know what you think!

[djafer]

To make REFCOIN a reality, we need developers. I am note sure though how feasible it is...

[markm]

Not a problem. You can hire tons of them all over the world/internet.

How much are you paying per hour?

The lower the pay you offer, of course, the les feasible it is.

Maybe you should first get your whitepaper perfected, get the details of your plan peer-reviewed, and maybe take it to the Feds or someone who actually likes the idea of constantly intervening in aka messing with the currency and/or markets.

-MarkM-

[Wichmann]

del.

[inmean]

Interesting, but me alone won't make it happen too, if few other developer willing to join, i would spare few hour of my time to make it happen

[BitCoinPokerBro]

Why would anyone buy coin expecting to later sell at a loss?

[btcmania]

Do we really need ANOTHER coin though?

Quality versus quantity - more features, less concern about the number of coins.

There are already an entire garage full of old dusty coins people don't use other than to pump and dump and will never see a real life transaction.

Why create another one when these old rusty coins will be with us for (too many) years to come? I mean you can only trade and buy and sell only so many buckets of shit before you have to realize, you're still just left with shit.

[MsCollec]

Is this gonna be a clone of alt coins or a new source code