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

[Bartje]

I'm stoked for release, I could care less about the whole private life thing.
Even if the guy says he is someone that he is not, does that make the idea, client, and chance to make money all of a sudden disappear?
Nope, the dev could be some yokel with no education but it wouldn't matter to me. All that matters is if the coin itself is a success.
If Bill Gates had a criminal background before he built Windows, would it have mattered once it was released? Would it have stopped Windows from being a success?
Don't invest, more profit for the rest of us. This is going to be Next all over again, which also by the way did not have escrow and was constantly called a scam before launch, founders ended up getting rich.
What if the Kickstarter fails to get approved, which is actually very likely? He could very well launch with the founder list that he already has since it has grown a lot recently and leave everyone that is waiting in the dust.

LeoC is clearly teaming up with OP here. In some eMunie thread LeoC was super concerned about every little detail of the lead developer's life, and now all of a sudden for a different altcoin that does not matter. Also LeoC is commonly known for being the same guy as some other profiles on BTT and other forums, trying to manipulate the way a discussion goes by impersonating multiple posters.

His don't-worry-everything-will-be-fine attitude here is in stark contrast to his overly critical attitude in other threads. That combined with the fact he is known as a troll and manipulator, is a big red flag. He is probably in on a scam here.

[Level Coin]

If the PoS reward for Lv1 and Lv2 coins decreases over time... I'm assuming it would be best to hold Lv1 coins for a while before burning them (initially) as they will have low coinage and thus generate Lv1 coins faster than if they were older.

Once a certain point has been reached, I assume burning them to Lv2 would then be far more beneficial as they no longer generate very many Lv1 coins by themselves...

Do you have more information on the rate of decay of the PoS from Lv1 and Lv2 coins? 100% ROI in 1 year from Lv2, and then what's the rate? Approx 1,000 coins in a year, 1,250 coins in 2 years? 1,300 in 3 ... etc.

Thanks.

It is more profitable to immediately burn to LV2, hold all LV1 generated until the ROI is achieved, them burn another one.
You then ride the profit from the first LV2 coin and make additional profit from the newly created LV2 coin.
The rate of decay is 1,000 in a year, 1500 in two years, 1750 in three years, 1875 in four, and so on.
This does not factor in coins generated from the LV1 made.

[LeoC]

LeoC is clearly teaming up with OP here. In some eMunie thread LeoC was super concerned about every little detail of the lead developer's life, and now all of a sudden for a different altcoin that does not matter. Also LeoC is commonly known for being the same guy as some other profiles on BTT and other forums, trying to manipulate the way a discussion goes by impersonating multiple posters.

His don't-worry-everything-will-be-fine attitude here is in stark contrast to his overly critical attitude in other threads. That combined with the fact he is known as a troll and manipulator, is a big red flag. He is probably in on a scam here.

About time an emunie supporter followed me here. How am I "commonly known" for having alt accounts, do you idiots still think I'm Cossackman LOL.

[Abyss_X]

I`am looking forward to the result but the code does not prove anything!


Its just like a simple file copy job...  

[Zukii]

If the PoS reward for Lv1 and Lv2 coins decreases over time... I'm assuming it would be best to hold Lv1 coins for a while before burning them (initially) as they will have low coinage and thus generate Lv1 coins faster than if they were older.

Once a certain point has been reached, I assume burning them to Lv2 would then be far more beneficial as they no longer generate very many Lv1 coins by themselves...

Do you have more information on the rate of decay of the PoS from Lv1 and Lv2 coins? 100% ROI in 1 year from Lv2, and then what's the rate? Approx 1,000 coins in a year, 1,250 coins in 2 years? 1,300 in 3 ... etc.

Thanks.

It is more profitable to immediately burn to LV2, hold all LV1 generated until the ROI is achieved, them burn another one.
You then ride the profit from the first LV2 coin and make additional profit from the newly created LV2 coin.
The rate of decay is 1,000 in a year, 1500 in two years, 1750 in three years, 1875 in four, and so on.
This does not factor in coins generated from the LV1 made.

Ah so only Lv2 coin rewards diminish?

Interesting really... 1,000 Lv1 coins generate 200 coins /yr anyway, so actually holding Lv1 coins for the first year you are ahead of generating Lv2 and holding.

Then if you look at year 2... 1,200 coins produce 1,440 coins which is only 60 less than if you burnt the 1,000 to Lv2 at the beginning.

Then year 3 holding Lv1 coins catches up to the Lv2 burnt with 1,728 coins vs 1,750
Year 4, Lv1 will have netted 2,074 and Lv2 will never catch up.

The risk of holding Lv2 coins just for 60 more Lv1 coins after 2 years is far outweighed by the chance that LevelCoin isn't worth anything in that time frame imo.

[Zukii]

Solution(?): Lv2 coins produce a minimum of 200 Lv1 coins/year (same as holding 1,000 Lv1). Preferably with slower decline.

[USD-e]

My position in the organization is far more important to me than this project.

Sooooo...   what your saying then..  Is that if said organisation which by your own admission is currently monitoring   links you to this coin  you will stop the coding and dissociate yourself from the coin?

That does not give me a lot of faith.

Such is life.

If this organization is so important to you  why would you even put yourself in a position where you could possible be reprimanded? and then even worse continue on with it when you think your being monitored?

People are investing in your ability to finish the code required for this coin. You can not truly say that you will be able to continue coding tomorrow until tomorrow is here.

Until the code is fully wrote its a huge gamble.

xploited, please check your PMs

[Bartje]

LeoC is clearly teaming up with OP here. In some eMunie thread LeoC was super concerned about every little detail of the lead developer's life, and now all of a sudden for a different altcoin that does not matter. Also LeoC is commonly known for being the same guy as some other profiles on BTT and other forums, trying to manipulate the way a discussion goes by impersonating multiple posters.

His don't-worry-everything-will-be-fine attitude here is in stark contrast to his overly critical attitude in other threads. That combined with the fact he is known as a troll and manipulator, is a big red flag. He is probably in on a scam here.

About time an emunie supporter followed me here. How am I "commonly known" for having alt accounts, do you idiots still think I'm Cossackman LOL.

It doesn't matter which specific nicknames you use or don't use, it's just commonly known you use multiple. I can't even bother to go further into that discussion. It's like when a guy puts on a fake moustache and says "hey guys, I'm somebody else". It's childish, and as a bystander you don't go into a discussion about the obvious, you just shrug.

The point I'm making, is that you are always super critical about the identity of a founding dev, and put A LOT of effort into digging up dirt. And now we have a coin that IS actually shady and you're just saying that you don't care that this project looks like a scam, you just trust it blindly.
There are only three conclusions possible:

1. you have some bipolar thing going on or are purposefully posting random opinions in random discussions.
2. you are playing a scam here
3. all of the above

It's up to the other readers of this thread to choose which one it is, but I have made up my mind.

[SyRenity]

My position in the organization is far more important to me than this project.

Sooooo...   what your saying then..  Is that if said organisation which by your own admission is currently monitoring   links you to this coin  you will stop the coding and dissociate yourself from the coin?

That does not give me a lot of faith.

Such is life.

If it good, people will continue it, as long as LevelCoin provides the source.

CfB did it for BCnext, for example.

[Level Coin]

If the PoS reward for Lv1 and Lv2 coins decreases over time... I'm assuming it would be best to hold Lv1 coins for a while before burning them (initially) as they will have low coinage and thus generate Lv1 coins faster than if they were older.

Once a certain point has been reached, I assume burning them to Lv2 would then be far more beneficial as they no longer generate very many Lv1 coins by themselves...

Do you have more information on the rate of decay of the PoS from Lv1 and Lv2 coins? 100% ROI in 1 year from Lv2, and then what's the rate? Approx 1,000 coins in a year, 1,250 coins in 2 years? 1,300 in 3 ... etc.

Thanks.

It is more profitable to immediately burn to LV2, hold all LV1 generated until the ROI is achieved, them burn another one.
You then ride the profit from the first LV2 coin and make additional profit from the newly created LV2 coin.
The rate of decay is 1,000 in a year, 1500 in two years, 1750 in three years, 1875 in four, and so on.
This does not factor in coins generated from the LV1 made.

Ah so only Lv2 coin rewards diminish?

Interesting really... 1,000 Lv1 coins generate 200 coins /yr anyway, so actually holding Lv1 coins for the first year you are ahead of generating Lv2 and holding.

Then if you look at year 2... 1,200 coins produce 1,440 coins which is only 60 less than if you burnt the 1,000 to Lv2 at the beginning.

Then year 3 holding Lv1 coins catches up to the Lv2 burnt with 1,728 coins vs 1,750
Year 4, Lv1 will have netted 2,074 and Lv2 will never catch up.

The risk of holding Lv2 coins just for 60 more Lv1 coins after 2 years is far outweighed by the chance that LevelCoin isn't worth anything in that time frame imo.

Level 1 coins have the same diminishing returns that level 2 coins have. So 1,000 level coin in one year gives 200. Then 300 in year two. Then 350 year 3.
Far less than level 2 coins. These are more for long term holders. Assuming that you burn the additional coins from the Level 2.
1 Level 2 coin in one year gives 1,000 coins. You burn that. Now you have 1 coin that will give you 500, and one that will give you 1000.
In 8 months you get enough to burn another one. You now have a coin that gives 1000, one that gives 700 and one that gives 300.
Now in 6 months you get enough to burn one. And so on and so forth, this is the best long term ratio to create income.
Eventually you will be generating enough LV1 to allow for monthly, weekly, or even daily burning.
If the coin catches on, you might be able to live off of the residual if you stick to this game plan from day 1 and never falter.

[Zukii]

Level 1 coins have the same diminishing returns that level 2 coins have. So 1,000 level coin in one year gives 200. Then 300 in year two. Then 350 year 3.
Far less than level 2 coins. These are more for long term holders. Assuming that you burn the additional coins from the Level 2.
1 Level 2 coin in one year gives 1,000 coins. You burn that. Now you have 1 coin that will give you 500, and one that will give you 1000.
In 8 months you get enough to burn another one. You now have a coin that gives 1000, one that gives 700 and one that gives 300.
Now in 6 months you get enough to burn one. And so on and so forth, this is the best long term ratio to create income.
Eventually you will be generating enough LV1 to allow for monthly, weekly, or even daily burning.
If the coin catches on, you might be able to live off of the residual if you stick to this game plan from day 1 and never falter.

Ah ok so both coins have diminishing PoS rewards, interesting.
Thanks for clarifying.

*edit* - Another question: This means that the initial reward for Lv1 coins must be higher for it to decrease over time to average out ~200 a year?

I presume, since the second year they yield 15%/yr (on average) that when they are first created they must effectively gain 22.5%/year, gradually declining to 17.5%/yr? Second year would be 17.5% --> 12.5% etc.

Coins created from *any* Lv1 coin will start at 22.5%/yr effective PoS regardless of the coin that minted them?

[Zukii]

Oops rewards halves yearly, not decreases by 5%... similar point tho.

[Jaguar0625]

If it good, people will continue it, as long as LevelCoin provides the source.

CfB did it for BCnext, for example.

Well, BCNext hired CfB to finish the code.

[Legcorner]

Level 1 coins have the same diminishing returns that level 2 coins have. So 1,000 level coin in one year gives 200. Then 300 in year two. Then 350 year 3.
Far less than level 2 coins. These are more for long term holders. Assuming that you burn the additional coins from the Level 2.
1 Level 2 coin in one year gives 1,000 coins. You burn that. Now you have 1 coin that will give you 500, and one that will give you 1000.
In 8 months you get enough to burn another one. You now have a coin that gives 1000, one that gives 700 and one that gives 300.
Now in 6 months you get enough to burn one. And so on and so forth, this is the best long term ratio to create income.
Eventually you will be generating enough LV1 to allow for monthly, weekly, or even daily burning.
If the coin catches on, you might be able to live off of the residual if you stick to this game plan from day 1 and never falter.

What happens after a transaction? how much will 1000 Level 1 coins make that are 2 years old after they transferred into another wallet?
Will they start making 200/year again? When not then older Level1 coins will lose value?
When I have 1000 one year old and 1000 two year old LvL1s and sell 1000 which one of these will get transferred?
I don't get this diminishing thing.

[Zukii]

Level 1 coins have the same diminishing returns that level 2 coins have. So 1,000 level coin in one year gives 200. Then 300 in year two. Then 350 year 3.
Far less than level 2 coins. These are more for long term holders. Assuming that you burn the additional coins from the Level 2.
1 Level 2 coin in one year gives 1,000 coins. You burn that. Now you have 1 coin that will give you 500, and one that will give you 1000.
In 8 months you get enough to burn another one. You now have a coin that gives 1000, one that gives 700 and one that gives 300.
Now in 6 months you get enough to burn one. And so on and so forth, this is the best long term ratio to create income.
Eventually you will be generating enough LV1 to allow for monthly, weekly, or even daily burning.
If the coin catches on, you might be able to live off of the residual if you stick to this game plan from day 1 and never falter.

What happens after a transaction? how much will 1000 Level 1 coins make that are 2 years old after they transferred into another wallet?
Will they start making 200/year again? When not then older Level1 coins will lose value?
When I have 1000 one year old and 1000 two year old LvL1s and sell 1000 which one of these will get transferred?
I don't get this diminishing thing.

Good question.
Lv2 coins can't be transferred so diminishing returns on PoS for them could work.

Lv1 coins however can be transferred... which ones are chosen from the wallet?
Do they only start generating other Lv1 coins after a certain coinage (like PPC)?

e.g. they must be idle for 30 days before they start to generate Lv1 coins...

[SyRenity]

If it good, people will continue it, as long as LevelCoin provides the source.

CfB did it for BCnext, for example.

Well, BCNext hired CfB to finish the code.

The final result still the same .

[northranger79510]

This will be interesting to see....If Levelcoin dev is not a scammer then he is a brilliant dev. with horrible business skills....

If he is a scammer then he concocted a near-brilliant scam plan.

[td services]

I decided to take the plunge and invested. While the circumstances are unusual, I'm relying on my gut instinct that Level Coin is sincere in his efforts, and hoping for the best.

Good luck everyone, especially to Level Coin.

[SyRenity]

Some analysis on the whole level idea at a different coin thread.

https://bitcointalk.org/index.php?topic=422052.msg4744448#msg4744448

Interesting analysis, though I would find it more credible without intervened personal attacks on Nex creator.

Levelcoin, I wonder what your opinion on this danger of constant inflation?

[Level Coin]

Level 1 coins have the same diminishing returns that level 2 coins have. So 1,000 level coin in one year gives 200. Then 300 in year two. Then 350 year 3.
Far less than level 2 coins. These are more for long term holders. Assuming that you burn the additional coins from the Level 2.
1 Level 2 coin in one year gives 1,000 coins. You burn that. Now you have 1 coin that will give you 500, and one that will give you 1000.
In 8 months you get enough to burn another one. You now have a coin that gives 1000, one that gives 700 and one that gives 300.
Now in 6 months you get enough to burn one. And so on and so forth, this is the best long term ratio to create income.
Eventually you will be generating enough LV1 to allow for monthly, weekly, or even daily burning.
If the coin catches on, you might be able to live off of the residual if you stick to this game plan from day 1 and never falter.

What happens after a transaction? how much will 1000 Level 1 coins make that are 2 years old after they transferred into another wallet?
Will they start making 200/year again? When not then older Level1 coins will lose value?
When I have 1000 one year old and 1000 two year old LvL1s and sell 1000 which one of these will get transferred?
I don't get this diminishing thing.

Good question.
Lv2 coins can't be transferred so diminishing returns on PoS for them could work.

Lv1 coins however can be transferred... which ones are chosen from the wallet?
Do they only start generating other Lv1 coins after a certain coinage (like PPC)?

e.g. they must be idle for 30 days before they start to generate Lv1 coins...

It is a good a question. This is how it works. First, it will be very difficult to have multiple wallets to cheat the system. I will be creating personalized wallets for everyone. But even then it is very difficult. Say you had 10,000 level 1 coins that were 1 year old and you never burned them. Now lets say you sold those level 1 coins on an exchange, and bought 10,000 level 1 coins from the exchange. The wallet remembers this transaction and sets the coins you just purchased to 1 year old. If you bought 20,000 level 1 coin on the exchange, then you will have 10,000 1 year old coins and 10,000 fresh coins. I am calling this "average age debt". I've said it numerous times, if you don't balance burning with selling, then you won't be efficient. Both burning and selling on exchanges helps the ecosystem to flourish and has significant benefits over hoarding level 1 coins.