New coin backed by Gold needs coders

[Weefranky]

I want to start a new coin, I need coders to implement the new coin probably just a fork or clone of one of the others available on github.

The difference and unique advantage I can bring to the table is the fact that every coin  will be backed with gold. I have vast minable resources in the USA to back this up. Which means I don't have to buy at market value.

Any coders with the relevant skills or experience that want to be in from the start and work for coins get in touch.

Bit888coin@gmail.com

[artw1982]

How would you manage that? Let's say I have 100 coins valued at an ounce of gold. You're going to accept the coins and send me gold? You'll end up with all the mined coins and no gold.

[Geenstijl]

How would you manage that? Let's say I have 100 coins valued at an ounce of gold. You're going to accept the coins and send me gold? You'll end up with all the mined coins and no gold.

how about no mining? Centralized. Have as much grams of gold in the vault as there are coins. It would be a very good coin for exchanges to add to their exchange. If it is done trustworthy.

[Sukrim]

This already exists in Singapore on Ripple.

Are you sure you can do this legally in the US?

[SnakeEater]

This idea is very sensible and possible as this is no difference to Amazon card.  The owner sell goods or numbers that own by itself is merging the commodity to crypto currency.

The next evolution is the unit is the physical commodity quantity like pounds, ounces, barrel, tonnes etc.

This means the system only need minimum one miner which is the owner itself and with the owner deciding the transaction fee as payout with zero mining quantity.  The more production of the owner will produce more crypto numbers.  This is very different to how the mining works but a crypto commodities number network run by the owners.

Gold producers like yourself will be one node.  When all the Gold producers join together the network of producers of common goods expand.  You can start with one miners and this does not need competition of miners as producers directly guarantee the payout and you does not need miners for these crypto network because blockchains will exist even after power off.  For buyers which prefer to keep the crypto numbers instead of physicals, the vault will run by another miners which earn mining fees which in turn pay by the buyers.  Unless the Gold owners collectively own the vault and willing to pay for the network.

To ride on the success of BITCOIN, the first step is reuse the BTC network like Ripple in Singapore but that incur high administration cost and has no fundamental advantage for Gold hoarders.

This crypto numbers of commodities will evolve and extend into a super basket of commodities network which will then produce a new version of currency that is backed by all these commodities and operate differently from BTC which was produce from out of nothing.

[overcoin]

I want to start a new coin, I need coders to implement the new coin probably just a fork or clone of one of the others available on github.

A new alt coin would be a mistake.
I've a project for Gold-Backed Bitcoin - https://bitcointalk.org/index.php?topic=341889.0