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[Bluestreet]

Has the team put a plan in place as to how they plan to use the rest of the dev premine to build the currency? Is the creator Rijk still involved with Guldencoin? I see /GeertJohan still posts.

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[ArieNLG]

[WaterLooDown]

Has the team put a plan in place as to how they plan to use the rest of the dev premine to build the currency? Is the creator Rijk still involved with Guldencoin? I see /GeertJohan still posts.

Hey Bluestreet,

Rijk mainly posts on our official forums below.

http://guldencoinforum.com/

The dev premine will be going towards adding to Guldencoin, the next usage will be for the checkpoint update for android once we have transitioned over to Digishield.

[Frais]

The dev premine will be going towards adding to Guldencoin, the next usage will be for the checkpoint update for android once we have transitioned over to Digishield.

And what about the 'kwartje terug' project, isn't that a great way to use the premine for?

[veertje]

And what about the 'kwartje terug' project, isn't that a great way to use the premine for?

That is a nice project for the premine, I think. LTEX can explain maybe.

[BioMike]

And what about the 'kwartje terug' project, isn't that a great way to use the premine for?

That is a nice project for the premine, I think. LTEX can explain maybe.

I think it should not be used for that. That project is more or less already running, so the financing for that should be sorted out already a long time ago.

[ArieNLG]

We can start a poll so everyone can vote use the premine for this great opportunity!

I vote Yes

[Frais]

And what about the 'kwartje terug' project, isn't that a great way to use the premine for?

That is a nice project for the premine, I think. LTEX can explain maybe.

I think it should not be used for that. That project is more or less already running, so the financing for that should be sorted out already a long time ago.

It isn't running at all, it's only been announced.

On the other hand I don't know exactly what the business model of 'kwartje terug' is. I guess it isn't a non-profit project for LTEX. If this is a purely commercial project it's not appropriate to use the premine for I think. 

[LTEX]

Just to briefly clarify things, the project "kwartjeterug.nl" is a private initiative from me, one of the community members.

The project is being setup and primarily targeted to gain as much new users and awareness to Guldencoin. I therefor have discussed the option with Rijk to use a small part of the pre-mine for it, but that has not been effectively communicated with the community yet, mainly also because the way to do this has to be figured out first. I have already stated to fund this project myself if necessary, but then I might have to create a more commercial engine behind the thing, which I'd rather not do.

The system is being setup in a way that all "kwartjes" are being recycled trough discount programs, so after the initial start less Guldencoin has to go in as they are coming out at the other end as well. Simply put this comes down to users "buying" discount with their saved "kwartjes" and the shops that get the customers in with the discount are giving the "kwartjes" back to us as reward for bringing in new business. Those returned kwartjes are re-issued to the users again.

As for progress, I can say we are redeveloping the database and app right now, as my recent meeting with Rijk has given me new insights in how to get things running without having to take the obstacles with the app-stores that app's like guldenwallet would have. This might also mean things may be postponed a bit, but for now my app developer thinks he will be able to deliver on time.

[Frais]

Those returned kwartjes are re-issued to the users again.

So you only need a little part of the premine since most of the kwartjes will hopefully refill the premine again?

[BioMike]

Thank you LTEX to clarify the project to us. To get back to my point:

And what about the 'kwartje terug' project, isn't that a great way to use the premine for?

That is a nice project for the premine, I think. LTEX can explain maybe.

I think it should not be used for that. That project is more or less already running, so the financing for that should be sorted out already a long time ago.

It isn't running at all, it's only been announced.
 

With "more or less already running" I meant that all the details have been worked out (financial wise), else you wouldn't announce it.

That having said, if they run out of "kwartjes" because the project is so successful I wouldn't mind giving them a little part of the pre-mine, but my opinion is that they have thought it out very careful and don't need it at this point.

[Frais]

It isn't running at all, it's only been announced.
 

With "more or less already running" I meant that all the details have been worked out (financial wise), else you wouldn't announce it.

Apparently not. It's worked out with a lot of options open..

[Anatavoc]

http://www.economist.com/news/business/21638124-minting-digital-currency-has-become-big-ruthlessly-competitive-business-magic

Not very green
A more fundamental worry is that digital-currency mining, like other sorts of mining, has environmental costs: all that number-crunching uses a lot of electricity, and not all of it comes from renewable sources, as it does in Boden. The rapid development of the ASICs chips has made the machines more efficient, but even if all mining worldwide were carried out in modern facilities like Boden’s, the combined electricity consumption would be 1.46 terawatt-hours per year—the consumption of about 135,000 average American homes.

[veertje]

MP Clever total hashrate dropping since december 3rd (that is the top spike at 400 GH/s). Today it is dropping way faster and is at 140 GH/s atm (see arrow). Hope they go under 10 GH/s again soon (Wishfullthinking, I suppose).

[LTEX]

Those returned kwartjes are re-issued to the users again.

So you only need a little part of the premine since most of the kwartjes will hopefully refill the premine again?

Yup, that's the idea, although I personally reserved 1.5mm NLG for initial roulation (thats 6 million liters of gas  ). Also I would like to see if we can build extra incentives for new users, which might be done with pre-mine. All this must be run trough the community first off course.

[veertje]

Also I would like to see if we can build extra incentives for new users, which might be done with pre-mine. All this must be run trough the community first off course.

I think that is a good idea.

[bram_vnl]

this coin dead? lol just kidding   

[Frais]

Yup, that's the idea, although I personally reserved 1.5mm NLG for initial roulation (thats 6 million liters of gas  ). Also I would like to see if we can build extra incentives for new users, which might be done with pre-mine. All this must be run trough the community first off course.

Your first "kwartje terug" user base will probably exist of people like me that will collect (or share) the Guldencoins instead of spend them. My guess is that you won't receive the first batch of kwartjes back. I think it's a good idea that (at least) your project can reserve a piece of the premine in case it gets very popular in a short amount of time.

[LTEX]

Yup, that's the idea, although I personally reserved 1.5mm NLG for initial roulation (thats 6 million liters of gas  ). Also I would like to see if we can build extra incentives for new users, which might be done with pre-mine. All this must be run trough the community first off course.

Your first "kwartje terug" user base will probably exist of people like me that will collect (or share) the Guldencoins instead of spend them. My guess is that you won't receive the first batch of kwartjes back. I think it's a good idea that (at least) your project can reserve a piece of the premine in case it gets very popular in a short amount of time.

Exactly, thats why I sat down with Rijk recently... More to follow...

[Meije]

http://www.economist.com/news/business/21638124-minting-digital-currency-has-become-big-ruthlessly-competitive-business-magic

Not very green
A more fundamental worry is that digital-currency mining, like other sorts of mining, has environmental costs: all that number-crunching uses a lot of electricity, and not all of it comes from renewable sources, as it does in Boden. The rapid development of the ASICs chips has made the machines more efficient, but even if all mining worldwide were carried out in modern facilities like Boden’s, the combined electricity consumption would be 1.46 terawatt-hours per year—the consumption of about 135,000 average American homes.

Well, as a Geology student i can see that it is indeed a long term problem, not for short term. On the other hand the amount of hashrate on the network of each coin will eventually stabilize and cease to grow at a fast rate. We have to be careful with our oil consumption, because there is a limited supply. In the past 200 years we have almost depleted hundreds of milions of years of oil reserves. The hunger for oil continues and because it is still more lucrative than renewable energies, the progress of these new forms of energy is slow. Unfortunately there is no alternative in present time to produce the amount of energy in a safe way for the entire world. I get my energy from a self made hydroelectric turbine, that's as green as it gets. What i find more of a problem with mining is that the mathematical problems are 'useless' and give nothing to mankind. So in the end the impact on the environment is bigger with mining than with dollar printing. The thing that i would like to see in the long run with NLG is the mining being used to do work that matters, the same as Gridcoin is currently doing, and not burning fossil fuel for nothing. I do not know if this is possible, but if it is i hope Geert Johan finds a way to incorporate it into NLG in the future. I also hope that they figure out nuclear fusion in the near future...