[ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune

[Level Coin]

I will be continuing this funding via Kickstarter. They will act as an escrow service (Amazon Payments)  and source of new information.
It will take me a month or so to have the visual content available to warrant a Kickstarter.
There will be some drawbacks. Kickstarter pricing will likely be higher than if you should invest directly, due to fees.
There will also be a slight delay in getting your LV1 to you should you choose to use Kickstarter. This is due to the way that Kickstarter handles money and rewards.
I will be working on setting that up for the moment. Anyone that wishes to help raise funds directly can still do so and shall receive their LV1 with no delay on the day of release.
I will still need funds to hire a graphic artist to help me with logo and project image creation.

[BeeFer310]

Wouldn't it be possible to implement initial funding the same way as Counterparty did, by burning btc for level1 coins?
(https://bitcointalk.org/index.php?topic=395761.msg4271279#msg4271279)

Another thing. Why did you decide on those particular numbers? (L1 5%, L2 25%)
Do you have some research that shows that they are optimal?
I would be a lot interested if there was more research backing your idea up. (estimates, charts etc)
Maybe presenting your theory at the Economics section of this board would be a good idea to get feedback?

+1

[Level Coin]

Wouldn't it be possible to implement initial funding the same way as Counterparty did, by burning btc for level1 coins?
(https://bitcointalk.org/index.php?topic=395761.msg4271279#msg4271279)

Another thing. Why did you decide on those particular numbers? (L1 5%, L2 25%)
Do you have some research that shows that they are optimal?
I would be a lot interested if there was more research backing your idea up. (estimates, charts etc)
Maybe presenting your theory at the Economics section of this board would be a good idea to get feedback?

A burn is when a currency is sent to an inaccessible address and are essentially destroyed.
Not only would I will receive zero funding in this manner, but I will be partaking in the destruction of Bitcoins, and I want no part in that.

The percentages are optimized based on the average linear inflation of 5% that most exchangeable alternative cryptocurrencies are using these days.
Level 2 coins offer a much higher reward simply because they are nonexchangeable and thereby pose a risk which needs to be rewarded. I felt 5x was enough incentive.

I will take a look at that board.

[indigon]

I will be continuing this funding via Kickstarter. They will act as an escrow service (Amazon Payments)  and source of new information.
It will take me a month or so to have the visual content available to warrant a Kickstarter.
There will be some drawbacks. Kickstarter pricing will likely be higher than if you should invest directly, due to fees.
There will also be a slight delay in getting your LV1 to you should you choose to use Kickstarter. This is due to the way that Kickstarter handles money and rewards.
I will be working on setting that up for the moment. Anyone that wishes to help raise funds directly can still do so and shall receive their LV1 with no delay on the day of release.
I will still need funds to hire a graphic artist to help me with logo and project image creation.

Just do an escrow with terms...there are plenty of them on this board...use one that is trusted and communicate how to funds are being used...you are over complicating it. You shouldn't be considering this to be a chore, you are attempting to helm a potentially potent currency.

[Level Coin]

What gave you the impression this was a chore to me? I am fully aware that the currency I am creating is one of a kind.  As a user pointed out, even forum escrow fails in establishing trust.
I believe that Kickstarter will be the best avenue in the long run with the highest return and most trusted method of handling backer funds.
It was in the plan since the beginning but I decided to forgo it in exchange for a much simpler forum release which has clearly backfired and I only blame myself for that.
I will use the minimal funds that are being sent directly to fund the Kickstarter campaign. These founding users will get access to the backend client and begin receiving currency slightly before Kickstarter backers.
I will post a link to the campaign when it is made available, until then sit tight. I will leave the direct funding addresses open for those who wish to support this project at its fullest.

[indigon]

What gave you the impression this was a chore to me? I am fully aware that the currency I am creating is one of a kind.  As a user pointed out, even forum escrow fails in establishing trust.
I believe that Kickstarter will be the best avenue in the long run with the highest return and most trusted method of handling backer funds.
It was in the plan since the beginning but I decided to forgo it in exchange for a much simpler forum release which has clearly backfired and I only blame myself for that.
I will use the minimal funds that are being sent directly to fund the Kickstarter campaign. These founding users will get access to the backend client and begin receiving currency slightly before Kickstarter backers.
I will post a link to the campaign when it is made available, until then sit tight. I will leave the direct funding addresses open for those who wish to support this project at its fullest.

That seems...off. I want to invest, but I would like to establish trust with you first...not at all an illogical process...but instead you are showing favoritism towards those who will trust you blindly or have bitcoin enough to spare to be ok with the possibility that this is not a legit project. We do not know you at all sir, very very little info has been provided...

It is great that you will be doing this through Kickstarter, but to punish the prudent seems silly. If you want to be professional about this, you should either even out things out by using a escrow everyone trusts (and I am sure there are some that everyone can agree on) or allow your kickstarter investors to have the same access as those who have given you bitcoin without you having been transparent first.

[LeoC]

What gave you the impression this was a chore to me? I am fully aware that the currency I am creating is one of a kind.  As a user pointed out, even forum escrow fails in establishing trust.
I believe that Kickstarter will be the best avenue in the long run with the highest return and most trusted method of handling backer funds.
It was in the plan since the beginning but I decided to forgo it in exchange for a much simpler forum release which has clearly backfired and I only blame myself for that.
I will use the minimal funds that are being sent directly to fund the Kickstarter campaign. These founding users will get access to the backend client and begin receiving currency slightly before Kickstarter backers.
I will post a link to the campaign when it is made available, until then sit tight. I will leave the direct funding addresses open for those who wish to support this project at its fullest.

That seems...off. I want to invest, but I would like to establish trust with you first...not at all an illogical process...but instead you are showing favoritism towpards those who will trust you blindly or have bitcoin enough to spare to be ok with the possibility that this is not a legit project. We do not know you at all sir, very very little info has been provided...

It is great that you will be doing this through Kickstarter, but to punish the prudent seems silly. If you want to be professional about this, you should either even out things out by using a escrow everyone trusts (and I am sure there are some that everyone can agree on) or allow your kickstarter investors to have the same access as those who have given you bitcoin without you having been transparent first.

I think his method is fine, he said we will only have a very slight advantage and if you look at the OP there are very few people ahead of you. The benefits are so marginal that arguing about it is pointless. Just wait for the kickstarter. This concept looks like a NXT killer to me.

[indigon]

What gave you the impression this was a chore to me? I am fully aware that the currency I am creating is one of a kind.  As a user pointed out, even forum escrow fails in establishing trust.
I believe that Kickstarter will be the best avenue in the long run with the highest return and most trusted method of handling backer funds.
It was in the plan since the beginning but I decided to forgo it in exchange for a much simpler forum release which has clearly backfired and I only blame myself for that.
I will use the minimal funds that are being sent directly to fund the Kickstarter campaign. These founding users will get access to the backend client and begin receiving currency slightly before Kickstarter backers.
I will post a link to the campaign when it is made available, until then sit tight. I will leave the direct funding addresses open for those who wish to support this project at its fullest.

That seems...off. I want to invest, but I would like to establish trust with you first...not at all an illogical process...but instead you are showing favoritism towpards those who will trust you blindly or have bitcoin enough to spare to be ok with the possibility that this is not a legit project. We do not know you at all sir, very very little info has been provided...

It is great that you will be doing this through Kickstarter, but to punish the prudent seems silly. If you want to be professional about this, you should either even out things out by using a escrow everyone trusts (and I am sure there are some that everyone can agree on) or allow your kickstarter investors to have the same access as those who have given you bitcoin without you having been transparent first.

I think his method is fine, he said we will only have a very slight advantage and if you look at the OP there are very few people ahead of you. The benefits are so marginal that arguing about it is pointless. Just wait for the kickstarter. This concept looks like a NXT killer to me.

Leo, you are right that it looks great...I promise I am not being negative for its own sake, I am just being cautious for myself and the community. So many scams lately, its been nuts, hopefully this is the real deal...I am very much looking forward to the Kickstarter and if he adds a bit more info, I may invest sooner

[bgman]

Couple of questions.

1.  Wouldn't it be better to have the option to revert the LV2 coins back to the LV1 coins?  There may be a time where I would need to spend a large amount of LV1 coins but don't have the time to wait for a whole week.

2.  Will the LV2 coins begin to generate LV1 coins a week after they were conceived or will they just generate, like say, every new Sunday or Monday?

[RoxRacoon]

This seems like a great idea and i would like to partake in it.

I can offer my help in design and web development, if you are interested please pm me.

[Level Coin]

Couple of questions.

1.  Wouldn't it be better to have the option to revert the LV2 coins back to the LV1 coins?  There may be a time where I would need to spend a large amount of LV1 coins but don't have the time to wait for a whole week.

2.  Will the LV2 coins begin to generate LV1 coins a week after they were conceived or will they just generate, like say, every new Sunday or Monday?

LV1 and LV2 coins both generate LV1 coins fractionally on the blockchain every 15 seconds and are rounded up to the nearest millionth. This means that depending on the amount of coins that you own, you will be receiving varying amounts every 15 seconds. You do not have to wait very long.

[murkster]

Levelcoin.

Its on the level.....
(British saying meaning genuine)

[MosinNagant]

I love it

Now convince me you are not thieves

[jelin1984]

i am in

still nothing are you scam?

i think is scammer


Ok I receive email from the level coin
We will wait and see

[Level Coin]

Sorry, I was asleep, I am from Michigan USA.
Yes I have received the payment and I have registered your e-mail address.
No worries, your funds are safe and can be withdrawn at any point during this pre-launch.

[SyRenity]

What about some technological ability, whitepaper, code, etc...?

Despite Nxt highly concentrated start, at least there was some working prototype.

[Level Coin]

What about some technological ability, whitepaper, code, etc...?

Despite Nxt highly concentrated start, at least there was some working prototype.

You will receive everything you ask for during the Kickstarter campaign. Sit tight and wait.

[SyRenity]

I will be accepting BTC and LTC for the pre launch with a time frame of approximately half a month after which absolutely no additional coins will be distributed, though I reserve the right to cancel the pre-sale at any moment should I feel too many LV1 coins will be sent out.

Hmm, why I get the feeling it will be Nxt scenario all over again (but without the enormous profits this time).

Why not at least having an announce that pre-sale is going to end in X hours?

[northranger79510]

Levelcoin, why did you edit your post from saying you just woke up from California, USA to Michigan, USA

[StarenseN]

Levelcoin, why did you edit your post from saying you just woke up from California, USA to Michigan, USA

VPN by TOR alarm clock I guess