This is the announcement for the crypto-currency, Traincoin! (XTN) http://i59.tinypic.com/qs5wuh.pngAfter this whole mess of new crypto-currencies, we aim to bring you a new fast-paced, rewarding currency! Traincoin will variable block rewards, which encourage people to get on as soon as possible! Block subsidy will increase at first, and then drop in variable amounts until it reaches a baseline of 0.05 XTN.
Block subsidies:The subsidy has been well thought out on how to get many people interested in this currency. It starts off with low difficulty coins and the reward increases fast, resulting in a difficulty spike, and then the reward drops, furthering the difficulty spike, as well as spiking the price.
Block rewards are as follows:
(x is block height)
1<x<10000 => 75 XTN
10000<x<11000 => 120 XTN
11000<x<12000 => 140 XTN
12000<x<13000 => 160 XTN
13000<x<13500 => 200 XTN
13500<x<13750 => 250 XTN (I like to call these 'Blocks of Inflection', for obvious Calculus reasons
)
13750<x<14000 => 200 XTN
14000<x<15000 => 160 XTN
15000<x<16000 => 140 XTN
16000<x<17000 => 120 XTN
17000<x<25064 => 50 XTN
25064<x<33128 => 20 XTN
33128<x<41192 => 10 XTN
41192<x<57302 => 2.5 XTN
x>57302 => 0.05 XTN (which is 21024 XTN per year)
The total number of coins in circulation will be 7 000 000, so this coin is relatively rare compared to other alts.
You might be interested as to why I said 7M coins while the graph only shows ~3M.
Traincoin will have a 50% premine of which 48% will be used to distribute to the citizens of Cape Town, South Africa!Maildrop:The coins will be mail dropped 60 days after the launch of this coin (a few days after the block subsidy hits baseline, which makes this an interesting ride!). We will try to reach everyone in the whole of Cape Town via their postbox. 1% of the premine will go towards covering these costs (this includes leaflets and flyers that will be handed out where-ever possible). Another 1% of this premine will go towards bounties and giveaways. (Note: This
will have a transparent public ledger. There is in total a 50% premine. We will be getting designers on board to design paper wallets and the leaflets/brochures/video for a big market push. The mail that will be dropped will go through SAPO (South African Post Office). As said, the cost will be covered by the premine. Things included in the letter will be the address with assigned private key. The address will most likely contain just 1 XTN. It will also cover the basis on how to use the client, and how to use the android app (There is a bounty available for this). If you are a designer/artist interested in getting involved, please let us know. You will get a bounty for your effort. More details to follow soon.
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Why Cape Town? We have been watching airdrops and maildrops of cryptos recently, and we saw that it might be a bit better to distribute it to a city and the results/growth of crypto there, and then expand it to the rest of the country. Cape Town itself proved to have great potential for cryptocurrency. There is a growing Stellenbosch bitcoin community, as well as general awareness throughout the city. There are many small businesses sprinkled around CPT (Cape Town) and that's why we decided to go ahead with it. It is those businesses that will set the crypto standard for others. We think this face-paced currency is perfect for this fast-paced city.
IPO:The dev team had a long thorough discussion about whether or not to have an IPO, simply to get money so we can open more bounties and support the coin. This was considered for a while and we decided that we would let
you choose. If yes, comment with a preferred escrow, else, just no would do. We want to ensure everyone is on board! Please let us know your preferred escrow!
Specs:Algorithm: Scrypt
Difficulty retarget: every 250 blocks (~5.2 hours)
blocks per day: 1152 (1.25 minute blocks)
Block rewards: vary (info below)
Total XTN: 7 000 000 XTN (7M)
Bounties:You may inform me if you would want to have a head start to claim the bounty when the coin is launched. The bounties will be awarded for the following:
-First 2 exchanges to start trading XTN (
5000 , 4300)
-First 3 merchants to accept XTN (
1000,750,250)
-A fully functional Android wallet (7500)
-First online Game to use XTN (1000)
-A working block explorer (
1000)
-The first 3 Mining pools (
1000,
750,250)
-The first faucet (
500 (Used for translation, faucet owner was paid in BTC instead of XTN))
-A Mac wallet (5000)
-Stable nodes (
1000,
450,
400,350,300,250,200)
Once all of these bounties are claimed, there is still a 4500 XTN balance that will be given out at either giveaways or further bounties.
Pools:-http://pool.uberpools.org/ 0% fee, PROP
-http://xtn.altcoin-pool.ru
-http://xtn.okaypool.com/ (unconfirmed if valid)
Block explorers:-http://explorer.trainco.in
Exchanges:---
AllCrypt XTN/BTC---
AllCrypt XTN/LTC---
AllCrypt XTN/DOGE--
Buy/Sell Thread---https://bitcointalk.org/index.php?topic=558333
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Voting: Please vote for traincoin on---
www.swaphole.com---
www.cryptotop.com---
www.mintpal.com/votingFaucets:--http://traincoin.altcoinfaucet.net/
Translations:---https://bitcointalk.org/index.php?topic=569221.0
Sample conf for
solo mining (traincoin.conf or TrainCoin.conf):
server=1
listen=1
rpcuser=train
rpcpassword=coin
rpcport=40072
addnode=108.61.202.110
addnode=204.12.193.178
addnode=198.23.242.217
addnode=162.221.184.173
XTN forum -
http://coinstack.org/index.php?board=18.0Sub-reddit -
http://www.reddit.com/r/Traincoin/White paper with more info on XTN:
https://www.mediafire.com/?nf65d57gdsuq9x8For every vote I will pay out an additional 0.5 XTN! After you have voted please post your address on this forum, or on the reddit give-away.
http://coinstack.org/index.php?topic=81.0http://www.reddit.com/r/altcoin/comments/229mwb/post_your_traincoin_address_and_get_free_xtn/You will be rewarded 10 XTN to change your signature to this!
Here is the code
[url=http://coinstack.org/index.php?board=18.0][color=red]*JOIN THE TRAINCOIN RIDE! FREE XTN!*![/url]
