NEW BLOCKCHAIN IDEA TO SOLVE MASS ADOPTION - Ecothreum (ECT) - a hybrid between a stable coin, a reward token and a dividend paying currency NEED TO SOLVE:
#-- SECTION 1
INCENTIVE TO BUYMonthly, to purchase reasonable amounts allows for a nice additional monthly income in the form of rewards/dividends, if planned, executed, and overseen correctly, could prove to be up to even 10x more lucrative than the most popular monthly & yearly credit card rewards combined! Not only that but users can print out their own E-Cash ( ECT paper wallets) with ease to use with our participating merchants like cash without having to carry your mobile device on you!!!
- *Coin not only functions as a semi-stable virtual currency but also as a an incentivised rewards token.
*No whales = Because the more coins one owns, the more money each month must be spend or the more money will be lost and burnt. This ultimately leads to less volatile with the coin and/or risk of market manipulation caused by a massive dump on exchange.
*Due to the reward & penalty nature of the coin = "Pump & Dumps" may or may not be a daily occurrence and/or a much needed negative necessity ie. outlet, in order to constantly move the required 1-5% of coins needed to be spent every month so as not to in due penalties.
INCENTIVE TO SPENDMonthly, if you don't spend a minimum value of 1-5% of your total coin supply you hodl in your coin wallet you will lose 0.5% of total supply that month. INCENTIVE TO SPEND
- *Coin owners get a 10% coin back on every purchase/transaction between their participating wallet and with a legitimate merchant's wallet who is also utilizing our Merchant POS Software. The 10% back isn't paid by the merchant but rather from our Foundation Liquidity Pool.
*Furthermore, the nature of the coin back reward CAN ALSO function as another way of coming to consensus or mining as the merchant's POS system also functions as a servicenode aiding in the distributed consensus algorithm process.
*the 0.5% loss isn't a complete loss as that certain amount of coins that you lost now then go into our public burn wallet address
*therefore, because of the user losing money by not contributing to the economy, the economy re-balances by burning said lost coins and lowering the total & max coin supply which in-turn may just raises the value of the currency as a whole in general
*furthermore, because of the value of the currency going up as a whole, the user who initially lost the 0.5% is able to make some of it if not more back with the rise in value of his current hodl supply.
INCENTIVE TO HODLAnnually, 5% interest is made based on the amount of coins that you own and "lock up" every January so as not to be spent or transferred in any way the remainder of the year. The interest of said coins are to be paid on the first of every January of every year to follow that you keep said coins locked up. If they are unlocked for any reason, the process starts over and the user must wait until the following January to be allowed to "Lock up" any amount. INCENTIVE TO HODL
#-- SECTION 2
ADOPTION BY MERCHANTS
ADVANTAGES- *Customers/users of the Coin make 10% Coin Back of their purchases made through participating merchant
*Free marketing for merchant as merchant shall be put on a list of participating Coin Back Merchants
*Coin acts as both a virtual currency and an incentive rewards token for the merchant
*Merchant does not have to pay the 10% Coin Back as that is paid by the Foundation Liquidity Pool
*Non-smartphone users can use SMS messaging to interact with our Point-of-Sale systems
*Can use paper wallets as cash when dealing with our Point-of-Sale systems
DISADVANTAGES- *Beginning launch of Coin will be semi-centralized until more Service nodes are activated by trusted merchants
*Merchant must learn a new Point-of-Sale system and/or down time during migration
*without a printed out paper wallet containing EcoThreum out a mobile device one cannot interact/use our coin ecosystem
CURRENT RELATIVE EXAMPLE USE CASE (IN PLACE OF)
ADOPTION BY THE MASSES TARGET MARKETS:GEN-X, MILLINIELS, BABY BOOMERSMonthly, this new crypto you hodl makes 50% more profit than the average credit card company's so-called "Cash Back" program per month. INCENTIVE TO HODL
Monthly, to purchase reasonable amounts allows for a nice additional monthly reward, if planned and overseen correctly, could prove to be 50x more lucrative than the most popular monthly & yearly credit card rewards combined! INCENTIVE TO BUY
Monthly, if you don't spend a minimum value of 1-5% of your total coin supply you hodl in your coin wallet you will lose 0.5% of total supply that following month. INCENTIVE TO SPEND
- *The 0.5% loss isn't a complete loss as that certain amount of coins that you lost now then go into our public burn wallet address in full transparency.
*Therefore, because of the user losing money by not contributing to the economy, the economy re-balances by burning said lost coins and lowering the total & max coin supply which in-turn may just raises the value of the currency as a whole in general
*Furthermore, because of the value of the currency going up as a whole, the user who initially lost the 0.5% is able to make some of it if not more back with the value of his current supply still being hodl
Side Note:
Whale resistant coin as it would cost the whale much much more in the aspect of the 1-5% of total supply each month must be spent and/or transferred to a special wallet registered as a Merchant Wallet. (This is so the person cannot just create a new wallet of his or her own and transfer funds back and forth to bypass this rule of thumb).
Such wallets, labeled as Merchant wallets, are basically Service nodes running a Delegated Proof-of-Stake consensus mechanism. These can also double as a Point-of-Sale unit if need be by the owner making merchant duties seamless.
Thats all I have so far on the coin idea. lol What do you think? If you were thinking to use this idea just please credit me and inform me as I'd like to help as well on my free time away from my own Dapp.
email:
indieproofllc@gmail.com
