Undicu // POS // Aiming to be the #1 freely distributed coin

[Soadan]

Undicu [UDC]
Universal Digital Currency

Aiming to be the #1 freely distributed coin.

Currency details
Type: Proof of stake
Launch date: Soon
Total coins: 25 billion
Client: POS clone (Ex: communitycoin, yellowcoin, etc)
Distribution: 95.5% participants, 1.5% development + bounties, 3% personal.
Distribution time span: No limit, a closing date may be decided down the road.
Giveaway coins per participant: 5 million coins (Amount may decrease over the course of the giveaway.)

Giveaway applications are being accepted now.
Applicants must meet and follow one of the following to be eligible:

1) miiCard verification. This is available to anyone (no Bitcointalk forum account needed).  Coming soon!
or
2) Bitcointalk account verification. This is available to anyone with a Bitcointalk forum account registered on or before January, 2014. To apply, pm me saying interested. If I find any evidence or have suspicion of sockpuppet activity, you will be disqualified. This group will be audited heavily before distribution.
or
3) Bitcointalk account verification with Facebook verification. For anyone with an account newer than January, 2014. First, like our Facebook page here. Then message me here with your Facebook wall link. You must post a picture of yourself holding a sign with your Bitcointalk username written on it. (This picture will be cross checked with profile pictures, this will eliminate the possibility of someone applying for the giveaway with stolen Facebook accounts.)

One giveaway per person. The participants list will be audited, if you are found applying for coins multiple times you will be disqualified. Eligibility will grow as the project develops. I will be posting updates periodically as conditions change. A list of participants will be publicly posted along with details of eligibility. (This includes public links to Facebook accounts, videos, any additional information used for verification.

Participants list: here.

Once the coin launches, I will need participants to pm me their UDC address for coins.

For now I would like to start this thread for open discussion. If you have a great idea that you think could help, please share it here. I am looking for someone who can actually create the coin and maintain it. A pos clone shouldn't be too hard to setup, right? I'll have a small developer fund set aside for the coin development, current clone work and a reserve for future development. Also a small amount will be set aside for projects like a website, android wallet, etc. (Not much of a priority now). A small amount set aside for people involved in the participant verification work, the appropriate name for these people could be "sock sniffers". (Any extra unused coins will be added to the giveaway amount or if giveaway has ended they will be burned.) A few percent of the coins will be saved for myself. (Yes, money for myself. I will be putting a lot of my personal time on this project.) The coin name isn't set in stone, I like "Universal Digital Currency" but am open for suggestions. Of course, I will be playing the role of creator/leader.

Why another coin?
Take a look at the never endless list of ipos and free giveaway coins, specifically how they where handed out. Obviously a great deal of these coins are scams. Nearly every coin has distribution flaws, the most common being sockpuppet activity. From that coin's 1000+ participants list, how many participants are just people using fake accounts? A lot of coins have whales holding several % of the currency in existence. (Just some lucky group of people putting their money in the right place/time.) Why are the developers/leaders allowing these holes for potential unfair advantages? Be it full ipo, partial or distributed freely its not fair and to an investor it doesn't look much appealing.

My goal is to create the largest distributed pos clone coin, fair and free.

With a distribution phase spanning several months and a multiple targeted group, Universal Digital Currency aims to be this community's largest distributed coin. I've brainstormed for days on ideas for distribution, ways to allow for open participation without the risk of abuse. I myself have came up with some distribution ideas that I feel aren't too bad.

Looking for a coin developer!
https://bitcointalk.org/index.php?topic=610705.msg6753930#msg6753930
You will be represented as apart of the team!
You will be paid with this project's currency, 0.5% of total coins in 3 installments. 1/2 after development and launch but before distribution begins, 1/4th one month after launch, and 1/4th 3 months after launch.

[1715417147]

1715417147

[hualehua]

Danny,how do you do.
I am very interested in this topic.
Yearn Day And Night

[Soadan]

I've open the giveaway for applications. An application form will be introduced soon but for now I'm taking pms.

[varunsin]

take your time and format the content please.

[Soadan]

Added 2 new groups to the giveaway, more coming soon. If you have a great idea for the giveaway please share it with me.

[platorin]

Good luck!

[Soadan]

Updated thread
- Added participants spreadsheet
- Changed giveaway criteria
- Distribution % set

[theprofileth]

Interested ,pm sent also is the 100 billion a typo? As you are only giving out 5 million per person you would need like 18,000 people to give out all the distro.
Why not try 100 million and 1 million per person because you holding 8 billion means that you have 1,600 people's worth of coins

[sonysasankan]

Interested ,pm sent also is the 100 billion a typo? As you are only giving out 5 million per person you would need like 18,000 people to give out all the distro.
Why not try 100 million and 1 million per person because you holding 8 billion means that you have 1,600 people's worth of coins

The free coin giveaway without any real restrictions and including all the sock puppets total about 4000 people max in most coins. The restrictions on this one are insane and I doubt if even  100 people will bother. And the dev gets 1,600 people's worth of coins. Yeah right... so much for :

My goal is to create the largest distributed pos clone coin, fair and free.

[Soadan]

Interested ,pm sent also is the 100 billion a typo? As you are only giving out 5 million per person you would need like 18,000 people to give out all the distro.
Why not try 100 million and 1 million per person because you holding 8 billion means that you have 1,600 people's worth of coins

The free coin giveaway without any real restrictions and including all the sock puppets total about 4000 people max in most coins. The restrictions on this one are insane and I doubt if even  100 people will bother. And the dev gets 1,600 people's worth of coins. Yeah right... so much for :

My goal is to create the largest distributed pos clone coin, fair and free.

Most coins have a distribution time span of a couple of months, this coin will be open for participants for much longer. Depending on popularity and adoption it may be longer than a year. My short term goal isn't mass popularity. I understand the amount of work/effort to join will sway many people away initially, but it will pick up. If it has any kind of value once it hits an exchange I guarantee it'll be turning heads. Holders and potential investors will surely appreciate this way of distribution.

100 billion is correct. 20,000 participants is my goal for now, at the rate of 5 million per participant. If months down the road this amount seems unrealistically large, I will have the total coins adjusted by destroying a certain amount, depending upon rate of adoption. And if it picks up huge, the amount per participant will be lowered.

[lionheart78]

i pmed that im interested but i happen to knw BTT not before  jan. 17 of this year and i dont knw how to make a video nor edit it and i have no XRP i can verify you thru fb  but well w/o the video i doubt that will be credited ^^, well if not qualified *shrugs* maybe next time XD good luck to your project

[gerdab]

1) ... You must post an 8 second video (or less) on your Facebook profile saying: "I'm (bitcointalkname), I would like to apply for the UDT giveaway". This group will be audited heavily before distribution.

are you serious?
a video on facebook to have a coins! it would be months joke !

[brian_nguyen]

Too many coins and 8% is worst than most of the pre-mined out there. Wish you luck, but don't expect to get on any exchanges with that number of pre-mined / personal gain.

[sonysasankan]

Interested ,pm sent also is the 100 billion a typo? As you are only giving out 5 million per person you would need like 18,000 people to give out all the distro.
Why not try 100 million and 1 million per person because you holding 8 billion means that you have 1,600 people's worth of coins

The free coin giveaway without any real restrictions and including all the sock puppets total about 4000 people max in most coins. The restrictions on this one are insane and I doubt if even  100 people will bother. And the dev gets 1,600 people's worth of coins. Yeah right... so much for :

My goal is to create the largest distributed pos clone coin, fair and free.

Most coins have a distribution time span of a couple of months, this coin will be open for participants for much longer. Depending on popularity and adoption it may be longer than a year. My short term goal isn't mass popularity. I understand the amount of work/effort to join will sway many people away initially, but it will pick up. If it has any kind of value once it hits an exchange I guarantee it'll be turning heads. Holders and potential investors will surely appreciate this way of distribution.

100 billion is correct. 20,000 participants is my goal for now, at the rate of 5 million per participant. If months down the road this amount seems unrealistically large, I will have the total coins adjusted by destroying a certain amount, depending upon rate of adoption. And if it picks up huge, the amount per participant will be lowered.

Even with all that, you holding on to 8 billion simply will not draw any big buyers, so I don't see how you are expecting the value of teh coins to rise. As the dev, I believe you should be rewarded with something more reasonable like take the reward for 10 participants or something like that.... not 8 billion coins!! Thre is no incentive for any trader to buy the coins in an exchange when they know that 8 billion is sitting there with the dev and has a clear disadvantage in buying the coins. If at all any good exchange takes this coin, You will reach the 1 satoshi price with zero buys.

[Soadan]

I appreciate the criticism, your opinions will help me shape this project. Everything here is a work in progress, just keep the discussion rolling.

Update: I changed eligibility requirements for #2, now accepting picture verification instead of videos.

Focusing currently on:
- Choose name, then logo, (can be decided by whole community).
- Coin developer needed, (payed by x% of coin on launch day then x% per y months for continuous support.
- More options for eligibility.
- Brainstorming groups to target for giveaway. Game communities? forums, etc.

[theprofileth]

Why not just do this, have all tx fees go to the dev with a min fee of 0.1 coins per transaction that way he benefits if people are using his coin. Also I strongly recommend setting total coins to 100 million and giving away 1 million each because I doubt you will ever get more than 100 people participating plus if you are able to spread out the coins equally at the start with you only holding 8 million which is 8 times the coins of the average person it would be a lot more attractive than you holding 1600 times more coins than regular people, just words of advice. Also you might want to consider setting a nice interest rate with a low min stake limit in order to get blocks going quickly.

[Soadan]

I'm still deciding the final numbers. Keep in mind, this giveaway will be open for several months, a year or more.

50b coins / 5m per = 10,000 participants

How about that? Rate per can be adjusted down the road, depending on adoption.

[stevegreer]

Couple of questions:
 
1) About your requirements.
-Requirement #1 requires the person to have a Facebook account. What if the person doesn't use that stupid website? Like me, for instance.
-Requirement #2 says have a bitcointalk account created on or after 1/1/14. What if the person has an account created before 1/1/14 and doesn't meet requirement #1? Like me, for instance.
-Requirement #3 says to have a Ripple account with a balance of 501+ XRP. What if the person doesn't have a Ripple account and also doesn't meet requirements #1 and #2? Like me, for instance.
Am I and other's like me who don't meet your requirements just SOL here?

2) About your post #8 in this thread where you state what you are currently focusing on. You state "Coin developer needed." So am I misunderstanding this, or are you advertising a coin that hasn't even been developed yet? Most devs usually have their coin in the testing phase before advertising it at least.

[kcanup]

Distribution soon? But how soon is that? I sent you pm.. and good luck for the project! 

[djm34]

8% personnal gain (8billions) Are you Dr Evil