Happy New Year!
Celebrating the utterly brilliant Federal Reserve strategy of Quantitative Easing (QE), we have created:
Zero Hedge Coin [ZERO] a.k.a. "The Zero" (Spoken is similar way to 'The Euro').
www.zerohedgecoin.comJoin the discussion at:
zerohedgecoin.boards.net
The ZeroHedgeCoin (ZERO) mimics the various Federal Reserve Board (FRB) actions to stimulate the world economy via Open Market Operations (OMO).
One ZERO is equivalent to 1/1,000 of a USD.
This is the Federal Reserve schedule with the number of ZERO coins created during the different periods:
Nov 2008 1 month - Trouble Asset Relief Program (TARP) - 800 million ZERO (equivalent to 800 billion USD)
Mar 2009 - June 2010 1 year 3 months - QE1 - 2.1 billion ZERO (Equivalent to 2.1 trillion USD)
Nov 2010 - Sept 2012 1 year 10 months - QE2 - 600 million ZERO (Equivalent to 600 billion USD)
Nov 2012 - Nov 2013 QE3 - 85 million ZERO a month (Equivalent to 85 billion USD a month)
Dec 2013 - Tapering (TBD)
The timelines for ZeroHedgeCoin (ZERO) will be compressed into a single year rather than spanning 5 years. So in in short the schedule will be:
TARP - 1 Week - 800 million ZERO - 79365 coins per block ( 0 to 10080 )
QE1 - 3 Months - 2,100 million ZERO - 15938 coins per block
QE2 - 4.5 Months - 600 million ZERO - 3035 coins per block
QE3 - 2.5 Months - 1,020 million ZERO - 9290 coins per block
Tapering - TBS - 1% inflation rate per year. Similar in spirit to Quark coin mechanics.
Total number of coins equals the number of USD mints divided by 1,000. So if the Fed mints 1 trillion USD, 1 billion ZERO coins will be created.
The coins are distributed in what is called the "Open Market Operation" (OMO). In crypto-currency terminology, this is called "mining". ZeroHedgeCoin miners are called "Primary Dealers". They are responsible acquiring the coins using scrypt based solvers and re-distributing the coins to the general public.
Proof of Stake will be based on the LIBOR rate at the time the current easing started.
The Federal Reserves QE strategy was created by the smartest minds (i.e. Ben Bernanke, Janet Yellen, Larry Summers) in economics. We do anticipate that by employing the same scheduling (in what is known as a Cargo Cult process), that the similar incredible wealth creation results of the Federal Reserve will be similarly replicated by ZERO.
More Technical Details:
Scrypt Based... Proof Of Work and Proof of Stake
1 minute per block
ETA January 2014
BTW... could someone make a coin logo around these lines:
