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

[ZeroTheGreat]

Isn't it a bit against the law of nature?

Currency success is about adoption, not about cap of coins. It's true for commodities too.

[TheMightyX]

Your model relies on people burning lvl 1 coins to counteract the inflation.
You have no way of assuring (No matter how good your coin is) that something better wont come along next year. So why risk 75% of your returns if you need to sell your position in a year. The answer is you wouldn't.

So what you basically saying, is that only future there for deflation systems (like BTC, NXT, LTC, etc...), which have a predefined finite value?

Isn't it a bit against the law of nature? For example gold is being considered as finite standard and a good anti-inflation protection - but this until someone will figure out how to synthesize it or mine it in space, for example.

(I'm not asking this specifically regarding LVC, but in general notation of finite financial systems).

I don't think that is what I was implying.
I'm just saying hes calling this inflation immune and he shouldn't, because its not (or we can't prove that it is).

[TheMightyX]

After thinking about this for some time, I don't believe you should be calling this "Inflation Immune".

With no cap on coins minted, this is an inflationary currency. You have no way of knowing exactly how people are going to act in this system. My guess (which is less a guess and more a calculation) would be that most if not all are going to be overly cautious and less likely to risk 1-2 years worth of gains to gain an additional 25% by year 4. Knowing that there are new coins coming out every month (if not week, day). There's no way to tell if we will be using bitcoin in 4 years, let alone your coin. People know this. Because people know this they will be less likely to burn lvl 1 coins, which means more inflation and less deflation. People are tired of inflation, people hate their money being worth less and less. Yes they get 5% more coins per year, but things just start costing more and more. And that means in 10 years there will be over 50% more coins in circulation and then it will double and so on.

Your model relies on people burning lvl 1 coins to counteract the inflation.
You have no way of assuring (No matter how good your coin is) that something better wont come along next year. So why risk 75% of your returns if you need to sell your position in a year. The answer is you wouldn't.

Dude are you serious... what part of this coin is not for short term holders, flippers, and people looking for instant gratification don't you understand?
If everyone thought like you then there would be no one putting money into IRA's and Roth accounts. Nobody would be opening savings accounts. Nobody would be stacking gold or silver.
Because why would anyone do that when new currencies come out and the price of fiat keeps changing and they could make more money buying and selling and herpa derpa.
People or groups with very large amounts of money that want to live off of interest and don't want to be fucking with the risks that active trading brings, would need a coin like Levelcoin.
If you are not interested in investing for long periods of time, or you feel like you will be needed to pull your money out of a savings account for whatever reason, then you should avoid Levelcoin, just like you should avoid an IRA or savings account. Besides, you can never be sure that once you pull your money and buy into a new coin, that you will even make money. The beauty of this coin is that it is going to be a stable increase.

That is a weak argument. "this coin is not for you" is a ridiculous statement as well.
That's like me saying to you "I don't want you investing in bitcoin because you're just interested in making money".
Do you see how ridiculous this sounds? That's you. Statements like these make you sound very narrow-minded and immature.

Let's make something clear:
A coin relies on widespread adoption of all people for all purposes to succeed, not just "loyalists" or "long term holders".

On a side note, people open savings accounts because they don't know any better. "I can get 2.5% interest on my money per year even though the rate of inflation is 5% so I'm actually losing money every year, but the banks tell me its a good idea!!"
You think the rich are opening savings accounts?

If this coin survived for roughly 14 years the amount of coins would double due to compound interest (assuming little or no burning, humor me).

[northranger79510]

So Mr. Level Coin was on today but he didnt respond to any questions? Why?

[TheMightyX]

So Mr. Level Coin was on today but he didnt respond to any questions? Why?

I've repeatedly offered my help (including developing a professional website and forum, marketing) to the dev in avoiding this train wreck but I've received very little response from him. (Wow, believe it or not, programmers are not that good at marketing and communication!  ).

Given the fact that he could have cleared up many if not all of the shady elements of this project from day 1, 2, 3, etc, with very little effort or time and has still failed to do so, I'm going to have to call it.


This is a scam.

If it wasn't a scam and the "dev" was serious about accomplishing this task he could/should/would have provided some form of proof or alleviated scam accusations in some way. If it's not a scam? Then this guy is obviously not professional and shouldn't be responsible for a project like this. his lack of response over the past couple days is a clear stalling tactic to try to squeeze more donations.

Expect a "I was away with family for two days" or "I was sick" retort.

[Jaguar0625]

This is a scam.

The lack of escrow makes me think the same thing.

[LeoC]

So Mr. Level Coin was on today but he didnt respond to any questions? Why?

I've repeatedly offered my help (including developing a professional website and forum, marketing) to the dev in avoiding this train wreck but I've received very little response from him. (Wow, believe it or not, programmers are not that good at marketing and communication!  ).

Given the fact that he could have cleared up many if not all of the shady elements of this project from day 1, 2, 3, etc, with very little effort or time and has still failed to do so, I'm going to have to call it.


This is a scam.

If it wasn't a scam and the "dev" was serious about accomplishing this task he could/should/would have provided some form of proof or alleviated scam accusations in some way. If it's not a scam? Then this guy is obviously not professional and shouldn't be responsible for a project like this. his lack of response over the past couple days is a clear stalling tactic to try to squeeze more donations.

Expect a "I was away with family for two days" or "I was sick" retort.

Sounds to me like you're just mad he didn't hire you. If you must know, someone beat you to the punch and is working with him on a website and forum.
I and a couple of the other big founders have been talking to him via conference call on Skype. He also answers e-mails frequently levelcoin@yahoo.com
He is looking into different avenues of funding as he feels the forum is to put it bluntly a terrible place for it, and you have proven that.
He also used screen share so that we could see him typing code and running the client, but it was pretty pixellated.
Move along now, more market share for me and good luck buying into it now with your scam allegations, you'll regret it very soon.

[northranger79510]

So Mr. Level Coin was on today but he didnt respond to any questions? Why?

I've repeatedly offered my help (including developing a professional website and forum, marketing) to the dev in avoiding this train wreck but I've received very little response from him. (Wow, believe it or not, programmers are not that good at marketing and communication!  ).

Given the fact that he could have cleared up many if not all of the shady elements of this project from day 1, 2, 3, etc, with very little effort or time and has still failed to do so, I'm going to have to call it.


This is a scam.

If it wasn't a scam and the "dev" was serious about accomplishing this task he could/should/would have provided some form of proof or alleviated scam accusations in some way. If it's not a scam? Then this guy is obviously not professional and shouldn't be responsible for a project like this. his lack of response over the past couple days is a clear stalling tactic to try to squeeze more donations.

Expect a "I was away with family for two days" or "I was sick" retort.

Sounds to me like you're just mad he didn't hire you. If you must know, someone beat you to the punch and is working with him on a website and forum.
I and a couple of the other big founders have been talking to him via conference call on Skype.
He is looking into different avenues of funding as he feels the forum is to put it bluntly a terrible place for it, and you have proven that.
He also used screen share so that we could see him typing code and running the client, but it was pretty pixellated.
Move along now, more market share for me and good luck buying into it now with your scam allegations, you'll regret it very soon.

Can you give me or ask him for permission to give me his skype? I would like to chat with him a bit before deciding to invest. The idea is great but I am on the fence right now.

[FrictionlessCoin]

Sounds to me like you're just mad he didn't hire you. If you must know, someone beat you to the punch and is working with him on a website and forum.
I and a couple of the other big founders have been talking to him via conference call on Skype. He also answers e-mails frequently levelcoin@yahoo.com
He is looking into different avenues of funding as he feels the forum is to put it bluntly a terrible place for it, and you have proven that.
He also used screen share so that we could see him typing code and running the client, but it was pretty pixellated.
Move along now, more market share for me and good luck buying into it now with your scam allegations, you'll regret it very soon.

I've observed that there are folks who make it their pre-occupation of claiming stuff as being scams.

It's gotten so bad that my own comment in this thread saying that I liked the original author's ideas was used as evidence that I was a supporter of scams. 

Folks need to chill out.  Furthermore, you shouldn't send money to someone unless he's already delivered the goods. 

[pandaisftw]

It's always shady when the OP removes all the funds from his fundraising account before it's actually over.

I don't see why he wouldn't show some signal that he is who he says he is. He already revealed his "name", so he should have expected people would look him up to confirm his identity.

Ah well, I was ready to invest as well, but until we see something, maybe not.

[TheMightyX]

So Mr. Level Coin was on today but he didnt respond to any questions? Why?

I've repeatedly offered my help (including developing a professional website and forum, marketing) to the dev in avoiding this train wreck but I've received very little response from him. (Wow, believe it or not, programmers are not that good at marketing and communication!  ).

Given the fact that he could have cleared up many if not all of the shady elements of this project from day 1, 2, 3, etc, with very little effort or time and has still failed to do so, I'm going to have to call it.


This is a scam.

If it wasn't a scam and the "dev" was serious about accomplishing this task he could/should/would have provided some form of proof or alleviated scam accusations in some way. If it's not a scam? Then this guy is obviously not professional and shouldn't be responsible for a project like this. his lack of response over the past couple days is a clear stalling tactic to try to squeeze more donations.

Expect a "I was away with family for two days" or "I was sick" retort.

Sounds to me like you're just mad he didn't hire you. If you must know, someone beat you to the punch and is working with him on a website and forum.
I and a couple of the other big founders have been talking to him via conference call on Skype. He also answers e-mails frequently levelcoin@yahoo.com
He is looking into different avenues of funding as he feels the forum is to put it bluntly a terrible place for it, and you have proven that.
He also used screen share so that we could see him typing code and running the client, but it was pretty pixellated.
Move along now, more market share for me and good luck buying into it now with your scam allegations, you'll regret it very soon.

I offered to do the work free, for 1 share of stake, so no I'm not mad I wasn't "hired" as you put it.

If, he has proven to you that there is code and hes not scamming, why would he not prove that here to everyone? It would have been so simple.
The investments would just flow in. All fears would have been alleviated. Why tell us his name and not expect anyone to dig into it? Why give a name if you are not prepared or able to back it up?
Saying that this isn't the place to seek investment is ridiculous. Other IPO's have claimed millions here. He's not looking for millions, hes looking for a few thousand. You think you couldn't drum up a few thousand here? ten thousand? a hundred thousand?

I'm not sure what to think of you LeoC, you've been a pretty staunch supporter of this whole scheme since day one, with no proof or communication. You were a "supporter" even before your alleged skype calls and teamviewer sessions. Makes it hard to trust anything you say.

Ohhhh would you look at that, your initials are the same as the name of the coin and the username of the dev.... what a coincidence.
Ok even I will admit that is reaching. If this coin actually exists you will have a sincere apology from me.

It's always shady when the OP removes all the funds from his fundraising account before it's actually over.

That is quite shady, isn't it.

[GigaCoin]

Obvious Scam, if you fall for it you deserve to lose your money

looks to me it's the same group of people collecting BTC using these scams, the posts are too similar with sock puppet accounts bumping the thread.

Since Visacoin scam the investments are much smaller since there are less idiots giving away their money, so you see more IPO launches in order to collect from various sources. One thing in common is that every single IPO so far failed to launch or release anything.

[TheMightyX]

Obvious Scam, if you fall for it you deserve to lose your money

looks to me it's the same group of people collecting BTC using these scams, the posts are too similar with sock puppet accounts bumping the thread.

Since Visacoin scam the investments are much smaller since there are less idiots giving away their money, so you see more IPO launches in order to collect from various sources. One thing in common is that every single IPO so far failed to launch or release anything.

If its not a scam, it was very poorly handled and executed.
The dev actually thought he could promote it on kickstarter? delusional much?

[micryon]

So .. is there mining to this at all?  What incentive is there to create a network?

[yshuifejng]

So Mr. Level Coin was on today but he didnt respond to any questions? Why?

I've repeatedly offered my help (including developing a professional website and forum, marketing) to the dev in avoiding this train wreck but I've received very little response from him. (Wow, believe it or not, programmers are not that good at marketing and communication!  ).

Given the fact that he could have cleared up many if not all of the shady elements of this project from day 1, 2, 3, etc, with very little effort or time and has still failed to do so, I'm going to have to call it.


This is a scam.

If it wasn't a scam and the "dev" was serious about accomplishing this task he could/should/would have provided some form of proof or alleviated scam accusations in some way. If it's not a scam? Then this guy is obviously not professional and shouldn't be responsible for a project like this. his lack of response over the past couple days is a clear stalling tactic to try to squeeze more donations.

Expect a "I was away with family for two days" or "I was sick" retort.

Sounds to me like you're just mad he didn't hire you. If you must know, someone beat you to the punch and is working with him on a website and forum.
I and a couple of the other big founders have been talking to him via conference call on Skype. He also answers e-mails frequently levelcoin@yahoo.com
He is looking into different avenues of funding as he feels the forum is to put it bluntly a terrible place for it, and you have proven that.
He also used screen share so that we could see him typing code and running the client, but it was pretty pixellated.
Move along now, more market share for me and good luck buying into it now with your scam allegations, you'll regret it very soon.

I have been concerned about this post, Level coin's design is very attractive, and read all of Mr. Level coin's reply, I personally think that Mr A is honest, but the lack of more information, and recently too much fraud, it makes me very hesitant, if you provide the information is true, then it is very good! I will take it seriously. (I English is not good, hope you can see)

[Legcorner]

I think you guys are making the honest devs a hard time on this forum.

Sure you've got scammed and you try to prevent others and yourself to doing the same mistake but it is ok if a dev is not replying for one or two days.
He said he got enough to start the kickstarter and maybe hes busy doing this.
I can understand that someone whos gets alleged with such things runs eventually out of steam justifing himself.

[FrictionlessCoin]

I think you guys are making the honest devs a hard time on this forum.

Sure you've got scammed and you try to prevent others and yourself to doing the same mistake but it is ok if a dev is not replying for one or two days.
He said he got enough to start the kickstarter and maybe hes busy doing this.
I can understand that someone whos gets alleged with such things runs eventually out of steam justifing himself.

I agree,  we got work to do.

But its just not only developers.   The miner manufacturers also get the same kind of heat.

[Alohaboy?!]

I think you guys are making the honest devs a hard time on this forum.

Sure you've got scammed and you try to prevent others and yourself to doing the same mistake but it is ok if a dev is not replying for one or two days.
He said he got enough to start the kickstarter and maybe hes busy doing this.
I can understand that someone whos gets alleged with such things runs eventually out of steam justifing himself.

I agree,  we got work to do.

But its just not only developers.   The miner manufacturers also get the same kind of heat.

+1

when it comes to money..............

[LeoC]

It would be pretty sweet if more levels are added in the future.

[Level Coin]

I have employed a web designer/graphic artist who is in the process of creating a web site and the graphics used in the Kickstarter.
I am still looking for someone that can help me create and edit videos. The burn client is complete and bug free, but I still need a working GUI.
I will be setting a cap of 1 BTC per investor. Any funds sent above this amount will be returned.