Orient (ORT)
Launch Date: xx.xx.xxxx
What?Short:- 100% premine, proof-of-stake backed by physical Gold
- 21’000’000'000 ORTs max
- block time of 90 seconds
Long:Orient ist a next-gen cryptocurrency combining the best of multiple worlds. Orient is 100% Premine, this is the first thing to know. It is 100% Premine because Orient will be backed by physical Gold. Every 10’000 ORT will be backed by 1g Gold and that Gold backing would not work if the distribution is not under full control. We also like to have control over the long-term growth and development of the coin, because we are believers and dreamers and we want it to succeed on a level no one in to cryptocurrency world will imagine. But that’s just us.
The Gold backing prohibits inflation through block rewards, the minting of a block only rewards the fee. Possible future inflations have to be initiated via source code changes.
Orient is a proof-of-stake cryptocurrency removing the need for energy waste by miners. All what's needed is the software. With a 100% premine, fees would stream back to the initial distribution addresses with descending probability. That's not just and we are planning to pour those fees into a facet currently in development for free, random distribution.
How?Short:- Acquire Orients
- Acquire Gold
- Use Orients
- Push the magic of Orient forward
- Not a dreamer? Get Gold value back
Long:Orients will be distributed through various channels coordinated through the main communication platform, the message boards of myorient.org (forum.myorient.org). Gold will be bought at a Gold trader such as BuillionVault (
http://www.bullionvault.com/). We buy, the Gold trader stores and insures. We are going to try to make this process as transparent as possible, since saying that Orient is backed by Gold is above all just saying. Approaches to handle this transparency range right now from mundane ideas like providing account pictures / data to crazy stuff like visiting the vault and taking pictures. Ideas are welcome
The gold backing has an interesting property: The value of Orient will be hedged to a certain level. Market manipulators can't drop the value at their convenience, because in the worst case scenario you can still receive the value of the Gold backing and that value will always stand against the market forces. Now the devil is in the details and we invite you to visit the forums to understand and comment the processes behind the backing.
Orients will be distributed in batches: As of right now three batches with dry periods inbetween are planned. Batches help us to control the growth and to react to developments at the Gold market. That also gives market participants a chance to exercise their trade. Batches will be subsequently more expensive to acquire, since we want to thank early adopters for their believe in us. The first batch will have a volume of 210'000'000 ORT.
When?Short:- Not today
- But soon
Long:We are working on the final details of the software and the procedures (getting Orients, liquidating Orients for the Gold value etc.) and we are in the process of talking with investors, so give us a couple of days for the final launch. We all are breaking new grounds with the backing, so everything has to be well prepared and tested. We are targeting a week from now on for the release of the software and the general launch.
This thread has the primary purpose of preparing the community for the upcoming revolution, which will begin soon. We want your input and feedback and we want to use the following days to answer every question which might arise.
Why?Short:- It is time
Long:The oriental world is heavily underrepresented in the cryptocurrency world and we are going to change that. We are going to bring Orient to the streets of Morocco and the heights of Dubai. We are going to establish Orient as a trade commodity between the traders of Egypt and the fishermen of Indonesia. One dream, one cryptocurrency: The magic of Orient. Be mesmerized.
Where?Short:- myorient.org
Long:There are a lot of channels to get in contact with us and to participate in the Orient community: both official and inofficial. Among official communication channels are a Reddit subreddit, a Facebook page, an IRC channel and the message board. The primary meeting place for everything Orient related will be forum.myorient.org. This is the primary source for news, exciting developments and announcements. Whatever news there is, it'll be in the forum. If a channel has more content than the message board, then we failed at our job to provide you with a single up to date source for the progress of Orient.
Who?Short:- 3 guys
Long:The core team of Orient consists of three guys with three different main responsibilities: technology, markets, public relations and community. Ekls will be the goto guy for everything related to information technology: software, hardware, everything else. Fmlr coordinates the community and talks to people. He pushes the social reach of Orient. If you've read somewhere else about Orient, there is a good probability that he was involved somehow. Wsmh handles the distribution and liquidation of Orients. Are you able to use your coins in a shop? Probably his works. Is there a new exchange accepting ORTs? Also his.
Of course there is overlapping of responsibilities and always feel free to ask anyone anything. We serve the community and a healthy community is the heart of Orient.
Take care,
The Orient Team
