AboutHistoryBitcoin was created January 3rd, 2009 and has grown into a global phenomenon. As a global currency, cryptocurrency allows for global transactions and seemingly instantaneous transactions. However, with success comes imitation. Daily it seems like BitCoin or it’s little brother LiteCoin is cloned one way or another to create a new alt. This seems to be a never ending trend and the stock piles of useless “Alts” continues to grow. As alts fall off marketplaces, the miners are left holding mountains of useless coins that they spent time and money on generating.
HowDelete coin is a radical idea in which 50% will be premined and will be utilized to acquire useless alts in return for a coin with value. This will be done with a simple concept, the total max coin (MAX_MONEY) of the coin will be worth 1%, or 1 Million DeleteCoins. For example, BillsCoin had a max coin of 500,000,000, and Joe has 50,000 coins he would like to exchange. You simply take the 1,000,000 DeleteCoin cap, divide it by the max coins of 500,000,000, and multiply it by the total coin in hand, which is 50,000, or 1,000,000/500,000,000*50,000= 100 DeleteCoins. This concept will be used across all LEGITIMATE alt coins in which legitimacy will be determined ultimately by my team as well as the community in specific circumstances. The criteria we will use will be forums, marketplaces, coins mined, and overall infrastructure behind the coin. This is simply to protect the community from some person creating a random alt with 100% premine and trying to cash it in on DeleteCoin.
The process of converting coins will be very manual at first until we can verify a working process for the coin; at that point it will be automated. Initially, this will be done via contacts through forums, email and our contact page where all aspects will be verified and processed to ensure that all aspects of the concept are working as they should be working. Our roadmap has a planned marketplace in which coins will be able to be exchanged directly without intervention.
SpecificsDeleteCoin is a scrypt based coin that will have a 50% premine utilized for the removal of alts. There will be no part of the premine going for rewards, bounties, promos, etc., as the point of this coin is a specific cause. Any needs required for the coin will have to be publicly funded as the premine will not be used for anything else other than it’s defined purpose. DeleteCoin will utilize single blocks with a 250 coin reward per block with a single block retarget. The reward rate will halve at the 2.5 year mark and will have a max total coin of 1,000,000,000 coins (1Billion).
Breakdown for clarification of the exchange rate. PLEASE READ BEFORE CONTACTING USWe have received several requests and after we confirm the amount to exchange, people seem put off by the amount of the Delete they are being offered. The exchange rate is very easy.
(1,000,000 DeleteCoins "1%")/ (Your Alt' Coins Max Coin Supply) * (The Number Of Coins You Want To Exchage) = Amount of DEL you will receive.
EXAMPLE= HeroCoin. 10,000,000 Total Coins, you have 5,362. 1,000,000/10,000,000*5,362= 536.2 DEL
EXAMPLE= PandaCoin 100 Billion Total Coins, you have 795,399. 1,000,000/100,000,000,000 * 10,399 = 7.95 DEL
The rate of exchange is identical across all coins, regardless of current value. If you tried to exchange BTC for some crazy reason, the same rule would apply and your 42 BitCoin would be worth 2 DeleteCoin. So please do not contact us and take offense when you get offered the amount based on this set exchange.
ExchangesSwisscexHow to exchangeYou can contact us directly through our site listed above or contact us directly through bitcointalk. All we need is your coin and how many if you would like to exchange. Please provide the bitcointalk thread if you have a derivative of Panda Pnda Pda or any of those coins that could easily be confused so we can ensure we have the appropriate wallet
