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

[Alias]

Hi all,

I am slightly confused by the atmosphere in this thread. Basically, I am surprised that it is not more positive. This is a very interesting system from a technical perspective. I have previously discussed the possibility of creating a system with opposing economic measures here - https://nextcoin.org/index.php/topic,1890.0.html. It might make for an interesting read for anyone interested in Levelcoin (yes, it was written in the context of the NXT system, but it should still be relevant).

If you can sufficiently understand the implications of what I have discussed there and in the associated Cybernetics Paper you will find that the Levelcoin proposal is a potentially very elegant implementation. The fact that the market liquidity is influenced by the users is incredible and decentralises the control and feedback powers of a central bank instead of simply decentralising the money issuing powers of a central bank (à la Bitcoin).

I commend the developer "Level Coin", for his long-term vision as an economic system like this has a longevity unlike most systems we are familiar with. It can effectively reach an self actualizing steady state (unlike the inevitable systemic boom-bust cycles that we are used to). I will certainly be watching this project closely and will conduct and publish research about it as it matures.

Keep up the good work.

Regards,
Al

[vtbean79]

Hi all,

I am slightly confused by the atmosphere in this thread. Basically, I am surprised that it is not more positive. This is a very interesting system from a technical perspective. I have previously discussed the possibility of creating a system with opposing economic measures here - https://nextcoin.org/index.php/topic,1890.0.html. It might make for an interesting read for anyone interested in Levelcoin (yes, it was written in the context of the NXT system, but it should still be relevant).

If you can sufficiently understand the implications of what I have discussed there and in the associated Cybernetics Paper you will find that the Levelcoin proposal is a potentially very elegant implementation. The fact that the market liquidity is influenced by the users is incredible and decentralises the control and feedback powers of a central bank instead of simply decentralising the money issuing powers of a central bank (à la Bitcoin).

I commend the developer "Level Coin", for his long-term vision as an economic system like this has a longevity unlike most systems we are familiar with. It can effectively reach an self actualizing steady state (unlike the inevitable systemic boom-bust cycles that we are used to). I will certainly be watching this project closely and will conduct and publish research about it as it matures.

Keep up the good work.

Regards,
Al

The reason why the atmosphere is so negative here is not because of the idea behind LevelCoin.  Idea is great.  That's why we're all here discussing.  People are not happy because the dev refuses to show any proof of existence of this coin.  That's very similar to all the scam coins that stole people's money doing IPO so far.  Just words on paper and not a single line of code to back it up. 

[DawgDCG]

It could be he is doing it on purpose? Maybe he wants to say "I TOLD YOU SO" after he releases it.
I for one would like to invest but am not sure with all these comments. Escrow would ease my mind.

[GreXX]

LevelCoin,

I am not actually new here and literally made an account just for my interest in this thread. I read Bitcointalk a lot but try to stay away from posting. I have been a proponent of StableCoin for a while and am hedging my bets that Artos will release the mixing service and am sincerely interested in the concept of Levelcoin.

Have you nailed down the specifics of the level rewards? You've mentioned initially doing a 250 L1 / year L2 reward causing a 4 year ROI. Later on in the comments you acknowledged that you were still considering other options. I think we would all like to know what the final reward system will be and if you have come to a final decision.

Also, do we have a gauge of what the initial IPO will be creating in regards to L1 coins? As far as I can tell the only way that coins will be generated is by either A. investing in the IPO or Kickstarter campaign, or B. production of level 1 coins by the coins purchased in A. Is there a set number you plan to produce? Will the initial investors then possibly end up with more than originally specified if the initial investments are less than anticipated or are the 100,000 and 2850 (or whatever the LTC amount was) set in stone?

Also, are you confirming the Kickstarter is complete and has been shown to the current investors?

[Abyss_X]

same question

I'd like to invest, but I don't understand why you have ignored the requests to verify by posting to your Facebook page and mirroring here, as suggested by SyRenity, or at least explain why you don't want to do it instead of just ignoring the request.

regards

[mailmansDOG]

Like inflation imune is something new...

[Bartje]

Lol, why are people still responding to obvious troll LeoC/Cossak/whatever?

Just filter his comments out of any thread and BTT is suddenly quite an informative forum

[DawgDCG]

LevelCoin will investors of the current fundraiser receive a higher level coin:btc ratio than the kickstarter funders?
Is there any incentive to not wait for the kickstarter?

[northranger79510]

So I have proof that Level Coin is committing identity fraud. But I don't know how to post pictures on here. Help?

[northranger79510]

Here is the proof promised: http://imgur.com/edit

[vtbean79]

If you take away all the intelligent talks by the dev and nice words on paper, this looks exactly like other scam coins.  I'm not saying this definitely IS.  I'm just saying probability is HIGH.  Invest at your own risk.  If this turns out to be scam, I hope a real dev can make this coin real.   

[DANIEL77]

What about the code?

[Abyss_X]

Really, some points are very similar to all scam threads.


#1 the author ignore uncomfortable questions till ipo ends

#2 the author does not show any parts of code

#3 the author contradicts himself during the discussions


Sure i like the concept but at the moment it looks not good for his reliability.


regards

[Snard]

I happen to agree with everyone's concerns. The tech behind it sounds great. Love the concept and would love to invest.

I do not get a warm fuzzy feeling on how any questions regarding the developer identifying himself are simply ignored or brushed off. 

If you ask for money, then expect to provide some level of identification for those involved.

[northranger79510]

Here is the proof promised: http://imgur.com/edit

Ooops silly me...hold on guys

http://imgur.com/MrSNjO7


If you guys look on Page 8, Levelcoin clearly stated the Facebook profile was his.

[Toby!]

This is all very odd.  The author proposes a really good, novel idea.  Why would you use a proper idea to scam people, when any old thing would do?  If you have the idea you may as well do it properly. Yet it really seems to me that something isn't right here.

[Level Coin]

LevelCoin will investors of the current fundraiser receive a higher level coin:btc ratio than the kickstarter funders?
Is there any incentive to not wait for the kickstarter?

I have been talking to current founders and it seems the unanimous decision is that they want higher rewards, I am considering giving early backers 1.5X the amount of Levelcoin.

As for the Facebook issue, I've sent messages to certain members on here. They know why I can't post publicly. It is too easy to take a screenshot and post it here.

[Level Coin]

LevelCoin,

I am not actually new here and literally made an account just for my interest in this thread. I read Bitcointalk a lot but try to stay away from posting. I have been a proponent of StableCoin for a while and am hedging my bets that Artos will release the mixing service and am sincerely interested in the concept of Levelcoin.

Have you nailed down the specifics of the level rewards? You've mentioned initially doing a 250 L1 / year L2 reward causing a 4 year ROI. Later on in the comments you acknowledged that you were still considering other options. I think we would all like to know what the final reward system will be and if you have come to a final decision.

Also, do we have a gauge of what the initial IPO will be creating in regards to L1 coins? As far as I can tell the only way that coins will be generated is by either A. investing in the IPO or Kickstarter campaign, or B. production of level 1 coins by the coins purchased in A. Is there a set number you plan to produce? Will the initial investors then possibly end up with more than originally specified if the initial investments are less than anticipated or are the 100,000 and 2850 (or whatever the LTC amount was) set in stone?

Also, are you confirming the Kickstarter is complete and has been shown to the current investors?

The rewards are being quadrupled to make it a one year ROI. This is due to the extremely fast pace nature of crypto.
I've taken three steps to avoid hoarding, which also seems to be a constant topic among founders.
First, I've added diminishing returns that begin after the ROI is met, this is both to balance the faster ROI and to be an incentive to continue burning and trading.
Second, I set a 1 BTC cap on founders, this is obviously to avoid a few individuals having too much power.
The exchange won't be live until after distribution is complete, this is to avoid founders buying up all the coins then artificially increasing the price.
People have been clamoring for a higher incentive to invest so I am going to be raising initial investor rewards to 150,000 per BTC and 4,275 per LTC.
I have updated the first page with this new information.

[fruor]

http://imgur.com/MrSNjO7

If you guys look on Page 8, Levelcoin clearly stated the Facebook profile was his.

Can you ask that person if he owns this linkedin account and still has access to it:
http://www.linkedin.com/pub/david-elsinger/9/945/356

Also, so that readers don't get confused he mentioned this was his on page 9.

[Conurtrol]

LevelCoin will investors of the current fundraiser receive a higher level coin:btc ratio than the kickstarter funders?
Is there any incentive to not wait for the kickstarter?

I have been talking to current founders and it seems the unanimous decision is that they want higher rewards, I am considering giving early backers 1.5X the amount of Levelcoin.

As for the Facebook issue, I've sent messages to certain members on here. They know why I can't post publicly. It is too easy to take a screenshot and post it here.

You are putting potential investors in a very uncomfortable position.

Pros
1. Great, innovative idea
2. Big profit potential

Cons
1. No White Paper
2. No Source Code
3. No Escrow
4. Identity questions unresolved

It seems like you want people to trust you blindly or suffer the consequences.  Will you be offering escrow before the fundraising period is over?