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

[LeoC]

He can just reset password. If he doesnt want to put that, he can put acronyms or some other random things to prove he is who he says he is. I am very cautious since being scammed.

This might sound dumb, but it's the truth. I do not remember the password. I have requested a password change which goes to an old e-mail address for which I also do not remember the password. I have then requested a password change for the e-mail but it is now asking me a security question: Who was your childhood hero? I tried putting the one that I think I remember being the answer to the question but after several attempts I was locked out. Sorry! This account is over 5 years old. There is a reason why I did not include this profile in the original post and I did not expect people to find it.

how about here posting here:

https://www.facebook.com/doelsinger

Wrong Dave Elsinger!

Lol this is getting absurd, you don't have to bring in your personal life if you don't want to.

[smi2le]

He can just reset password. If he doesnt want to put that, he can put acronyms or some other random things to prove he is who he says he is. I am very cautious since being scammed.

This might sound dumb, but it's the truth. I do not remember the password. I have requested a password change which goes to an old e-mail address for which I also do not remember the password. I have then requested a password change for the e-mail but it is now asking me a security question: Who was your childhood hero? I tried putting the one that I think I remember being the answer to the question but after several attempts I was locked out. Sorry! This account is over 5 years old. There is a reason why I did not include this profile in the original post and I did not expect people to find it.

how about here posting here:

https://www.facebook.com/doelsinger

Wrong Dave Elsinger!

i think it's the same person. Both know russian/ukrainian and are affiliated with the Evangelical Church. Too much of a coincidence if you ask me.

[northranger79510]

He doesn't, but he has to provide some credibility on Levelcoin. If he doesn't want to provide his identity, then a whitepaper or source code is sufficient. Any coding assignment he has done, or any type of credentials that he can prove is sufficient. I think that is fair to the investors since the IPO scams appeared. One just popped up. Its called Tomatocoin IPO.

[LeoC]

He doesn't, but he has to provide some credibility on Levelcoin. If he doesn't want to provide his identity, then a whitepaper or source code is sufficient. Any coding assignment he has done, or any type of credentials that he can prove is sufficient. I think that is fair to the investors since the IPO scams appeared. One just popped up. Its called Tomatocoin IPO.

Pounding him for every little scrap of info is douchy if you ask me. He should have just never revealed his name now every couch detective is on his case.
 He gave everyone the option to wait for the kickstarter/escrow. Don't be impatient and just wait. I'd rather he focus on the client than appeasing random people on the internet.
Isn't his first post enough of a whitepaper? Srsly he told us exactly how the system works, what more do you want lol.

[smi2le]

He can just reset password. If he doesnt want to put that, he can put acronyms or some other random things to prove he is who he says he is. I am very cautious since being scammed.

This might sound dumb, but it's the truth. I do not remember the password. I have requested a password change which goes to an old e-mail address for which I also do not remember the password. I have then requested a password change for the e-mail but it is now asking me a security question: Who was your childhood hero? I tried putting the one that I think I remember being the answer to the question but after several attempts I was locked out. Sorry! This account is over 5 years old. There is a reason why I did not include this profile in the original post and I did not expect people to find it.

how about posting here:

https://www.facebook.com/doelsinger

Wrong Dave Elsinger!

Lol this is getting absurd, you don't have to bring in your personal life if you don't want to.

You're right, he didn't have to but he did by admitting to that linkedin account. It kinda sucks if he is bringing someone else's personal life into this.

[LeoC]

He can just reset password. If he doesnt want to put that, he can put acronyms or some other random things to prove he is who he says he is. I am very cautious since being scammed.

This might sound dumb, but it's the truth. I do not remember the password. I have requested a password change which goes to an old e-mail address for which I also do not remember the password. I have then requested a password change for the e-mail but it is now asking me a security question: Who was your childhood hero? I tried putting the one that I think I remember being the answer to the question but after several attempts I was locked out. Sorry! This account is over 5 years old. There is a reason why I did not include this profile in the original post and I did not expect people to find it.

how about here posting here:

https://www.facebook.com/doelsinger

Wrong Dave Elsinger!

Lol this is getting absurd, you don't have to bring in your personal life if you don't want to.

You're right, he didn't have to but he did by admitting to that linkedin account. It kinda sucks if he is bringing someone else's personal life into this.

Should he have just lied? He could have easily said no if he wanted to and no one would be able to say anything to that, but he didn't. No one here is bringing any personal lives into this except you and northranger.

Anyways, back on topic. I'll reserve judgment until release.

[northranger79510]

He could just give out something though instead of his identity. If he is to handle money, a large amount at that, we need more than words and a screenshot of a file that you can fake easily.

I have a suspicious nature, so I mean no disrespect to him whatsoever. I just want to feel a little more secured.

I believe in the idea wholeheartedly if it turns out OP is telling the truth.
Not being suspicious and just giving your money blindly is a gamble and not an investment.

[LeoC]

He could just give out something though instead of his identity. If he is to handle money, a large amount at that, we need more than words and a screenshot of a file that you can fake easily.

I have a suspicious nature, so I mean no disrespect to him whatsoever. I just want to feel a little more secured.

I believe in the idea wholeheartedly if it turns out OP is telling the truth.
Not being suspicious and just giving your money blindly is a gamble and not an investment.

I agree, though I don't care too much to bring personal info into this. The beauty of crypto has always been anonymity and by being couch detectives we are destroying that.
This thread is literally 2 days old and people are already making demands, self-entitled much? I want to see some content too but god damn give it time to grow.
I doubt that screenshot was faked. XCP uses a VERY similar system.

[TheMightyX]

He can just reset password. If he doesnt want to put that, he can put acronyms or some other random things to prove he is who he says he is. I am very cautious since being scammed.

This might sound dumb, but it's the truth. I do not remember the password. I have requested a password change which goes to an old e-mail address for which I also do not remember the password. I have then requested a password change for the e-mail but it is now asking me a security question: Who was your childhood hero? I tried putting the one that I think I remember being the answer to the question but after several attempts I was locked out. Sorry! This account is over 5 years old. There is a reason why I did not include this profile in the original post and I did not expect people to find it.

how about here posting here:

https://www.facebook.com/doelsinger

Wrong Dave Elsinger!

Lotta PI's in here =D

[Level Coin]

I don't blame them! I am working on setting up escrow terms. I feel like I am spending the majority of the time in this forum and less on actually getting the coin working!
At this rate I will never make the deadline. Time to churn.

[kikeda]

I don't blame them! I am working on setting up escrow terms. I feel like I am spending the majority of the time in this forum and less on actually getting the coin working!
At this rate I will never make the deadline. Time to churn.

ill be waiting for the escrow.

[grandpa_seth]

You own up to the Linkedin profile being yours. But that profile says you currently work in Minnesota? You said you are in Michigan. I was ready to put a bitcoin in this but

some things have to be cleared up. This plus the many excuses as to why you can't login to linkedin, email, reset email. Plus saying thats not your facebook when

according to a member the facebook you deny being yours and the linkedin you acknowledge being yours share your name, speaks russian and affiliation to evangelical

church. That does seem unlikely a coincidence. My instinct still says you are not scamming. Your idea is very interesting. I want to believe. But you have to admit this looks

not great.

[Level Coin]

That profile is a half dozen years old. It is not updated to reflect the past couple of years of my life. I do in fact live in Michigan at the moment.
You missed the sarcasm in my post. Let me clear it up. Yes that is my Facebook, but I want to keep personal, professional and hobbyist lives separated.
I'm sorry I gave you enough negative impressions worth jumping to conclusions over. The members of this forum are a rowdy bunch I'll give them that.

[Legcorner]

Green was the old system, red is the one I am proposing now.
I feel like I could spend months in development here, the ideas keep pouring in.
These would all need to be decided before the launch though as there is no going back.

What happens after the 7. year?
Will the amount a LV1 Coin generate be 0 or will it be like 1000 LV1(50 p.a)?

[Level Coin]

On the 8th year, a Level 2 coin will stop generating Level 1 coins entirely.
I don't know if I will implement this system or not, depends on feedback.

[Mota]

just implement an escrow and I am good to go. until then I will watch this coin closely ^^

[Bitye West]

interesting

[xibeijan]

What about the supply of LV2 coins?  Are they Inflation Immune?

This is a serious concern.

Anyone?

There is no limit to Level 2 coins. There would need to be a ridiculous amount in circulation for the system to switch from a deflation model to an inflation one, remember it takes four years to make an

I think you can probably come up with a closed form equation for the max rate of production of lv2 coin and use that as an upper bound.

I suspect there is a flaw in your model and you will have highly inflationary lv2coin.

I suspect that you are wrong. If everyone burned their Lv2, how will that create inflation? It will instead deflate Lv1 coins, the coins with actual value. I'm not entirely sure you understand how the system works or what inflation even is. Level 2 coins do not have a price, how can they possibly inflate? To quote wikipedia: In economics, inflation is a persistent increase in the general price level of goods and services in an economy over a period of time. Since level 2 coins do not have value on their own, they can neither go up in value, or down in value.

If you meant there will be an abundance of them. Then the answer is likely yes, there will be. But never enough to corrupt the system or even something you should concern yourself with. There is a fine balance between Level 1 and Level 2 coins. My calculations estimate that there will be a shortage of Level 1 coins for the first couple of years. This will require MORE level 2 coins to created to sustain the demand.

If we apply a limit to Level 2 coins as well as the diminishing returns, we run the risk of killing the coin by having many people own Level 2 coins that don't generate enough Level 1 to allow for the creation of fresh Level 2 coins. No, there can not be a limit on either of the coins. It is fine as it is.

My question is only concerned with the supply of lv2 coins, i.e., whether it's monotonically increasing or not.  It's irrelevant to me whether lv2c can be spent.  My question was only about "how many over time".

It seems like folks will be caught in a competing race to obtain more lv2.  He who has more lv2c generates more lv1c.

[xibeijan]

Although I find your idea interesting, I wonder why you've decided to accept the BTC yourself, rather than a proof-of-burn on the BTC block chain?  If it's because you needed to raise capital, then why not setup an escrow?

I would very much appreciate an answer to this.

[Level Coin]

My question is only concerned with the supply of lv2 coins, i.e., whether it's monotonically increasing or not.  It's irrelevant to me whether lv2c can be spent.  My question was only about "how many over time".

It seems like folks will be caught in a competing race to obtain more lv2.  He who has more lv2c generates more lv1c.

The supply will be based on the market. I'm not a fortune teller.
He who owns a faster mining rig will likely mine more coins.
He who has more money, will likely buy a bigger boat.
He who has more Level 2 coins, will likely generate more Level 1.
If you want to be that guy, then buy some Level 1 and burn them.

If anyone has noticed, in one corner we have a person saying that there is no incentive to burn level 1 coins and that people should hoard them.
Then on the other corner, we have a person saying that there will be a race to burn as many level 1 coins as possible.

This to me says the system is balanced.

Although I find your idea interesting, I wonder why you've decided to accept the BTC yourself, rather than a proof-of-burn on the BTC block chain?  If it's because you needed to raise capital, then why not setup an escrow?

I would very much appreciate an answer to this.

I already answered this question and I will not do so again.
I feel like I am repeating myself over and over which is detracting from the work at hand.
If you have questions, make sure the responses aren't already available in the thread.