- StandardCoin uses Bitcoin Standard System. Just like the Gold Standard System StandardCoin's value is based on a fixed quantity of Bitcoin. You can always exchange as many StandardCoin as you want to Bitcoin at anytime.
- StandardCoin's value against Bitcoin's value rises overtime. No matter how many coins is mined and dumped. The fixed rate of StandardCoin's value against Bitcoin's value can not be drop, it rises instead.
Built-in Exchange
StandardCoin has a built-in exchange system which allows users to trade StandardCoin to Bitcoin at a fixed rate (this fixed rate increases over time) without using any third-party exchange.
Anti Pump and Dump
No matter how many coins are mined and dumped. The exchange rate between StandardCoin and Bitcoin will never drop.
Value Permanently Rising
The value of StandardCoin against Bitcoin can only rise overtime. Once rised, it can not drop
Algorithm Scrypt
Total Coin
400,000,000 coi
ns
Block Time
60 seconds
Block Rewards
100 StandardCoin Per Block halving every about 12 month
Difficulty
Retargeting using Kimoto Gravity Well algorithm
Guaranteed Exchange Rate:StandardCoin at a specific time has Guaranteed Exchange Rate (GER). You can sell StandardCoin for Bitcoin at anytime you like with any amount at the GER. GER depends on 2 factors:
- The Accumulative Market Capacity (AMC) of StandardCoin: total number of BTC that was used to buy StandardCoin. This number can only increase overtime (No matter how many people sell StandardCoin for Bitcoin, this number won't drop drop)
- The Maximum Money Supply (MMS) of StandardCoin: the fixed number of total StandardCoin in the network: 400,000,000 coins.
The GER of StandardCoin is computed as follow: deviding AMC by MMS. AMC always increases and MMS is a constant. As a result, GER can only rise over time.
Store Selling PriceYou can buy STD from the store anytime at the Store Selling Price (SSP).
SSP depends on 2 factors:
- The current Accumulative Market Capacity (AMC) of StandardCoin: total number of BTC that was used to buy StandardCoin. This number can only increase overtime (No matter how many people sell StandardCoin for Bitcoin, this number won't drop drop)
- The stored StandardCoin (SSTD): the amount of StandardCoin left in the store (This includes the initial 200,000,000 STD and the STD the investors dump in the future)
The SSP of StandardCoin is computed as follow: deviding AMC by SSTD and multiplied by 4. SSP rises overtime as AMC is rising. But SSP may also reduce if investors are dumping their coins at GER.
AMC RoundsAMC won't be increased immideatedly after an investors deposit BTC. It will increase step by step. The next AMC will be 2x the current AMC. This also makes GER increase step by step, next GER equal to 2x the previous GER. AMC is seperated to rounds to enusre all investors in the current round is buying at the same price not matter how many they buy.
i.e: The Initial AMC is: 16 BTC, that means current GER is: 4 satoshi. Next AMC will be 32 BTC and the next GER is: 8 satoshi.
If you still hold on to your STD until this round ended, your STD's value is doubled,
25% of the MMS, which are equal to 100,000,000 STD, will be offered for the initial investors. In this phase, investors can deposit into exchange with their BTC to acquire shares of 100,000,000 STD. At the end of Initial Price Valuation Phase, investors will receive a number of STD based on their invested BTC over the total total invested BTC. Total Invested Bitcoin in this phase is the initial AMC, which is used to calculate GER of StandardCoin
Free Market Phase - Help GER to rise permanentlyAfter the Initial Price Valuation Phase, each STD has GER value against BTC. StandardCoin is now freely traded over the markets. You can exchange STD to BTC at anytime with any amount you like without affecting the GER. Meanwhile, new investors are still able to invest in StandardCoin by exchanging their BTC for a share of the stored STD. This will increase the AMC. As a result, GER increases as well. Again, STD holder can exchange their STD back to BTC at the current GER without causing it to fall. That is why STD price increases permanently.
AMC miners - Building up the AMCAMC Miners are the miners that will mine at a Private Multipool. Instead of mining STD directly. AMC miners will mine other profitable altcoins and receive payment in STD. The mined altcoins will be automatically exchanged to BTC, these BTC will then be added to the total AMC. Which will help increase the GER. There is 100,000,000 STD being spread out to AMC miners. The longer the AMC miners mine the more valuable STD become.
When is StandardCoin launched?
StandardCoin will be launched at 2014/03/25 16:00:00 EST.
You can check the countdown on StandardCoin website for an accurate time.
https://standardcoin.net/How do I benefit from StandardCoin?There are 2 ways to benefit from StandardCoin:
- Join The Initial Price Valuation Phase
- Buy StandardCoin at a fixed rate after the Initial Price Valuation Phase is ended
(Click here for a detailed explaination)How do I join The Initial Price Valuation Phase?You can Join the Initial Price Valuation Phase by:
1. Visit
https://standardcoin.net/price_valuation 2. Click the "Click Here to Invest" button
3. Enter your STD address.
4. Send Bitcoin to the BTC address which is associated with your STD address.
5. After the Valuation Phase is ended, you will receive your shared STD to your STD address.
How long is the Initial Price Valuation Phase?The Initial Price Valuation Phase will be started at the same time coin is launched. It will last for 8 days.
After 8 days, Initial Investors will receive their shared STD to their STD address.
An exchange will also be launched at:
https://standardcoin.net/exchangeNew Investors will be able to buy STD at a fixed rate.
Miner will be able dump their coins at GER rate.
Is there a point when there is not enough BTC to buy back all STD at the GER?another question.. how about if all initial investors want to withdraw BTC and Miners also .. there would not be enough BTC to give away
WRONG!!!
Even if all initial investors, future investors and miners want to sell their STD for BTC, there is always enough BTC for them. That is how the system designed.
For example:
Current AMC is 40 BTC. Total stored STD for new investors is: 200,000,000 (50% coins of network). Investor 2 invests 40 BTC.
- AMC is now increased to 80 BTC.
- Investor 2 will receive: (40/AMC * stored STD) = 40/80 * 200,000,000 = 100,000,000 STD
- "kernel" : "scrypt",
- The new stored STD is: 200,000,000 - 100,000,000 = 100,000,000 STD
All STD is guaranteed to be bought back to the store at 20 satoshi, No matter how many STD is bought back, the GER won't fall.
The initial investors are now doubled their investment as the GER is doubled.
We now have 80 BTC stored to buy back STD.
The GER is 20 satoshi.
Total STD in circulation: 300,000,000 STD (including the STD that hasn't been mined yet).
Even if miners mined all STD, investors dump all their STD at 20 satoshi, it only needs 60 BTC to cover them all.
chill man i´m only asking..
What about this scenario..
Current AMC is 40 BTC after valuation phase so each Std worths 10 Satoshi. You have 40BTC to backup withdraws.
1.-You don´t get any future investors quickly.
2.-Miners begin to mine and sell as they always do
3.-Lots of initial Investors decide to invest somewhere else so they also withdraw a big amount ..say 20 BTC
4.- I know the price for STD keeps the same but now there are only 20 BTC to pay for the miners. If they keep mining and no one is quickly playing the part as future investor there wont be any BTC to backup miners selling's.
Maybe im still missing something
StandardCoin don't need any future investors to backup withdraws at GER.
Remember that the maximum amount of STD Initial Investors can get is: 100,000,000
Future Investors: 200,000,000
Miners: 100,000,000
So the maximum amount of BTC initial investors can withdraw at 10 satoshi is: 10 BTC.
Maximum amount of BTC miners can get withdraw at 10 satoshi is: 10 BTC.
Maximum amount of BTC future investors can get withdraw at 10 satoshi is: 20 BTC.
The amount of BTC stored always matches the amount of total STD in the network.
So i think this is a good idea but needs to be better planed..
One of the most important things for this to work is confidence.. since you (dev) are an anonymous newbie, it is extremely risky for all of us to deposit bitcoin in your exchange. Your fixed exchange idea works like some sort of Bank and for that you shouldn´t be an anonymous entity since the likelihood that you just run away with all bitcoins deposited there is really high for the users. Is like trading with MT Gox but with an annonymus person.
Said so i would recommend all "investors" to work on this with extremely caution.. Im not saying it is a scam but there are some points you (dev) should work.
good luck
p.s here some info about the website domain
WHOIS information for standardcoin.net:***
Domain ID:
Domain Name: standardcoin.net
Created On: 11-Mar-2014 00:00:00
Expiration Date: 11-Mar-2015 00:00:00
Sponsoring Registrar: ENOM (ENOM)
Status: client_transfer_prohibited
Name Server: amy.ns.cloudflare.com
Name Server: gabe.ns.cloudflare.com
Registrant ID: Unknown
Registrant Name: Unknown
Registrant Organization: Unknown
Registrant Street1: Unknown
Registrant Street2: Unknown
Registrant Street3: Unknown
Registrant City: Unknown
Registrant State/Province: Unknown
Registrant Postal Code: Unknown
Registrant Country: Unknown
Registrant Phone: Unknown
Registrant Fax: Unknown
Registrant Email: Unknown
Admin ID: Unknown
Admin Name: Unknown
Admin Organization: Unknown
Admin Street1: Unknown
Admin Street2: Unknown
Admin Street3: Unknown
Admin City: Unknown
Admin State: Unknown
Admin Postal Code: Unknown
Admin Country: Unknown
Admin Phone: Unknown
Admin Fax: Unknown
Admin Email: Unknown
Nobody is depositing anything. The exchange works like this:
- If you are a buyer, you only need to enter your STD address to the exchange, a BTC address associated with that STD address is generated. You send BTC to that address and a calculated amount of STD will be sent to your STD address automatically.
- And if you are a seller, you will have to enter your BTC address to the exchange, a STD address associated with that BTC address is generated. You send STD to that address and you will receive BTC to your BTC address at the GER.
So, nobody is risking anything.
The most risky part is the Price Valuation Phase. STD can not be sent instantly because we have to wait for the Price Valuation Phase to end before the exchange can calculate the amount of STD that will be sent to each inital investor.
So you can avoid risking your BTC by waiting for the Price Valuation Phase to end and start investing in the Free Market Phase.
"Nobody is depositing anything. The exchange works like this..."
If the exchange works like you say it does it is a pretty unique idea.
However, if the exchange doesn't work like you say it does then who's to say you can't just loophole all the BTC to your own personal BTC address?
Or how do we know the software is secure enough so that someone doesn't do the same?
Blind trust is the biggest issue.
The exchange has 3 layers.
The website at:
http://standardcoin.net/ is nothing but a web interface.
The cron server which update the database and interact with the coind is on another server.
The coin daemon holdings STD and BTC are on a server in private secured network which can only be accessed by the cron server.
Plus, Most coins are stored in cold wallets. Only 10% of the coins are on the server.
As I said before. The most risky part when investing is the Price Valuation Phase because the exchange can not send STD to you immidiately. We will have to wait for the Phase to end and let the exchange calculates the amount of STD for each initial investor.
At the Free Market Phase, exchanging works instantly and automatically.
So if you are afraid to lose your BTC, you can wait until the Price Valuation Phase is ended.
