[ANN][BBTC] 100% POS, No Scam, No BS

[BaseCrypt]

http://static.wixstatic.com/media/982ee8_8278faf492554ec39a089941c556a0f1.png_srz_p_175_175_75_22_0.50_1.20_0.00_png_srz

BaseBTC, the first coin with guaranteed profit based only on exchanges!

An Open Letter to All exchanges




Contact your favourite exchanges, help make this happen! Contact Bittrex, Bter, Cryptsy, show them their interest!


A 100% scamproof IPO




How it works:


All the coins are premined and given to an exchange, this exchange sells the coin for one BTC for a few weeks. If you buy a coin you can trade it back for at least one BTC at any time*, there is no possible loss if you buy in this phase.
After some time, the exchange stops selling and burns the rest of the coins, this introduces scarcity, the value can now go up.
After 6 months, when the coin is stable, we will also removed the buy order to make the coin completely independent.

http://www.basecrypt.org/#!finance/component_74511

We want to give all the power to an exchange, the developers will not be able to control any coins.

Launch Date - May 2014

Official Site - http://www.basecrypt.org/

http://www.vibe.com/sites/vibe.com/files/styles/main_image/public/article_images/wolf-of-wall-street-leonardo-dicaprio.jpg





Social Media

https://www.facebook.com/basecrypt

https://twitter.com/BaseCrypt






Tech Specs

POS Premine

21million


Type: Proof of stake

 Min Stake Age: 8 hours

 Max Stake Age: None
 
 Premined coins: 21million

 interest per year: 1%

 Block time: 30 seconds

BaseBTC will soon be in its distriubtion stage which will end after a feew weeks, any BaseBTC bough in that phase can be traded back at 100% of the price or higher at any time, contact an exchange now!

BaseCrypt coins are pure POS (proof of stake) based coins with 1% yearly inflation that are distributed via the market. Utilising immediate order conversion, the coin will have 3 different phases, with a guaranteed increase in value through immediate order conversion, and introduced scarcity.
Escape regulation, crashes, and transaction costs
The cryptofoundation that will shape the future. Introducing the concept of base value coins and deflationary long term markets, BaseCrypt is the safest and most fruitful cryptomarket investment.

All coins will always be stored transparently, either in an exchange or one of few designated cold storage addresses, this will always be confirmable via the block explorer and exchange data, the only way to obtain coins for any party is via the exchange method described.





CryptBase coin have the following properties

 
They are always a better investment than their base

They retain the value of at least one of the base currency per coin

They can gain any amount of value upwards of the minimum

They have all the advantages of other cryptos

 
CryptBase coins base their initial value of other coins. A large number of coins is mined and put on sale for the price of one coin of which the CryptBase coin is base on. For example, one BaseBTC will be sold for 1BTC each. Once someone has bought one coin, we put in a buy order, which means the person who bought the coin initially will be able to trade the coin back without a loss at any time. After some time we will stop selling the coins and burn all the ones which were not given out, we will only buy coins back using the initial investment from people who bought, this drives the value up as scarcity is introduced and makes it impossible for the value to drop below one of the base value. This means everyone who buys during the distribution phase will be able to at least get their investment back, assuming any kind of demand, a rise in value is guaranteed once the distribution phase is ended.

Demand is created by the POS concept, as one can assume that at least 1% of the coins will be kept as an investment at any time (due to the 1% increase in money supply), investors will aim to get guaranteed profit by buying in order to increase their stake. POS also makes a 51% attack impractical,unlike POW.

Other coins are based on an arbitrary initial price which can drop and and rise at any time, there is no kind of base to piggyback on for these coins. This essentially means that any base coins is more profitable as an investment than the coin it is based on, essentially creating guaranteed leverage after the first phase.

 

We can boil it down to this:

Stage 1

A near infinite (or the size of the base's supply) sell order is created on an exchange, any currency we get as a trade, we will put into sell orders within 24h (usually faster, once the sytem is tested the optimum time will be found), this sell order will always remain, meaning that all trading is completely transparent. The amounts present in each public account are publicly visible at any time, everything is done without any kind opaque trading, the market will be demand based and free from external manipulation. People can now buy the coin without any possible losses (except for trading fees) possible, but with potential gains, the user can trade between the two freely in this period and after.

Stage 2

The sell order is now removed,meaning that basecoins can no longer bought, but only sold, this means that there is now a buy order only that guarantees the tradeback to be at least 1 basecoin, the value will be one or higher from now on. The value essentially piggybacks of the coin the basecoin is based off, meaning that the value of that coin plus the additional coin is the new price, those who hold coins will be able to trade at a higher price due to the additional demand that has been created.

https://i.imgur.com/TLl2VsF.jpg

Stage 3 (potentially in the future)

An announcement is made at least 4 weeks ahead of time, the buy orders are now moved up slowly at roughly equal the rate that coins are lost at, around 2% a year, this can be tied in with a proof of burn mechanism to make the supply more scarce. Square BaseCoins (Basecoins based ot the Basecoins) may be introduced.

We want do all of this through exchanges, taking away our responsibility!

You can mail us via our site, post in this thread or use Facebook or Twitter, we will try to answer all your questions!

http://media.salon.com/2013/12/wolf_wall_street1.jpg






How to POS mine

(Take from blackcoin.co, the POS base for our coin)

PoS can only be done by an unlocked wallet. In the client it is called ‘Staked Mining’. As soon as you unlock your wallet (there is a difference between encrypted & locked) the stake miner will start. You will start to see coins being moved from your balance to your ‘Stake’ balance. Coins will not be lost. After a while you will start receiving transactions with your earned interest.

You won’t have to keep it open all the time. PoS will be generated after holding your coins for at least 8 hours in the wallet and your coin-days will not be lost during the wallet being locked. As soon as you unlock your wallet the miner will start and if your coins meet certain requirements you will be getting PoS blocks based on your coin-days generated.

Note that you will not generate stake if your wallet is locked, but it will resume once unlocked. Also keeping the wallet open and generating stake secures the network as it will replace PoW mining and is much more energy efficient.






Rewards and Bounties

Contact your favourite exchanges, help make this happen! Contact Bittrex, Bter, Cryptsy or another big exchange, submit proof (a SS or link) to basecrypt@gmail.com before May 11th and you can win a 0.1btc award! (3 0.1btc winners!)

3 people who tweet at an exchange and verify will get 1 BaseBTC invested for them and can claim their profit at any time (will be public and transparent) by may 30th

Best summary paper of the concept (white paper) - 0.2BTC

Best Logo - 0.1BTC (by 20th of May)

(all best awards will be voted on publicly)






Notes

All coins are stored in address BBYTo2JB65VqELpQMusJEoPdH1AdBtbPie at the momen

We are seeking out exchanges, help us!

The IPO is carried out via exchanges, as described above

Thanks guys, let's make this happen! The BaseCrypt team.


 
 

[/color]

[BaseCrypt]

We are now working on a white paper regarding mining and automated trading, by automating config files we can make mining any coin more profitable by auto trading orders.

We also added some rewards for sharing our idea with exchanges.

[jztxeno]

Could you please define "soon" for the distribution phase?

[xzhybbs]

So vigorously to the platform to promote! It would be a good POS coins, hope I can have it!

[BaseCrypt]

Could you please define "soon" for the distribution phase?

As soon as we get an exchange to accept the conditions stated in the open letter, the coin will be distributed (including small giveaway!), this is why we need you support at the moment.

We could have just launched on an exchange, but it's not good to just trust a coinmaker, and we don't want to expect that of anyone, which is why we're making it exchange dependant with the conditions ated in our open letter, this means that there is no possibility of anyone disrupting the process (unless the exchange goxxes).

We are hoping for you guys to support this, because if this works, initial investors before sell orders are removed will get a guaranteed profit.

[BaseCrypt]

We're giving out free 5millibits to anyone who tweets @bittrexexchange to add us (just say "please add BaseBTC (BBTC)"), send us an email confirmation with a SS or link at basecrypt@gmail.com, one person has redeemed theirs already! You will get you BTC within 12 hours! 19 more people can do this!

[swiftraitor]

Seems interesting.

[loljosh]

Interesting.

[handsomenipple]

 Looks like a nice concept, I hope exchanges get on board for this, it's really nice to see a coin giving control to a trusted party!

[BaseCrypt]

Looks like a nice concept, I hope exchanges get on board for this, it's really nice to see a coin giving control to a trusted party!

Appreciate it! If there is enough demand, Bittrex will hopefully support us, tweet them to add us!

[platorin]

Won't work, sorry. Bitcoin is a Bitcoin and you can do nothing to overcome it.

[BaseCrypt]

Won't work, sorry. Bitcoin is a Bitcoin and you can do nothing to overcome it.

The point is not to beat Bitcoin, but it's to beat its profitability.

[crunchynut]

interdasting approach to circumvent the escrow issue.

Stage 1

A near infinite (or the size of the base's supply) sell order is created on an exchange, any currency we get as a trade, we will put into sell orders within 24h (usually faster, once the sytem is tested the optimum time will be found), this sell order will always remain, meaning that all trading is completely transparent. The amounts present in each public account are publicly visible at any time, everything is done without any kind opaque trading, the market will be demand based and free from external manipulation. People can now buy the coin without any possible losses (except for trading fees) possible, but with potential gains, the user can trade between the two freely in this period and after.

Stage 2

The sell order is removed. People are wetting their pants in expectation of getting rich very soon. After some hours, the first "where is the dev?" posts start to appear while some not so bright posters answer back "give him time, he is probably just sleeping. stop spreading fud! we are strong community and need a logo contest!"

Finally, the dev appears again and makes a final statement, thanking you all for the 10-20 btc he just withdrew from the exchange.

Stage 3
Some of the most retarded investors declare that the "community behind this coin is still strong" and that they will just launch another coin with the same name.

[Philll90]

interdasting approach to circumvent the escrow issue.

Stage 1

A near infinite (or the size of the base's supply) sell order is created on an exchange, any currency we get as a trade, we will put into sell orders within 24h (usually faster, once the sytem is tested the optimum time will be found), this sell order will always remain, meaning that all trading is completely transparent. The amounts present in each public account are publicly visible at any time, everything is done without any kind opaque trading, the market will be demand based and free from external manipulation. People can now buy the coin without any possible losses (except for trading fees) possible, but with potential gains, the user can trade between the two freely in this period and after.

Stage 2

The sell order is removed. People are wetting their pants in expectation of getting rich very soon. After some hours, the first "where is the dev?" posts start to appear while some not so bright posters answer back "give him time, he is probably just sleeping. stop spreading fud! we are strong community and need a logo contest!"

Finally, the dev appears again and makes a final statement, thanking you all for the 10-20 btc he just withdrew from the exchange.

Stage 3
Some of the most retarded investors declare that the "community behind this coin is still strong" and that they will just launch another coin with the same name.

+1000

I love it

[escrowman]

if no escrow ,no one trust you .

[kongdezhong]

How about the IPO ,seems you didn't mention it.

[BaseCrypt]

interdasting approach to circumvent the escrow issue.

Stage 1

A near infinite (or the size of the base's supply) sell order is created on an exchange, any currency we get as a trade, we will put into sell orders within 24h (usually faster, once the sytem is tested the optimum time will be found), this sell order will always remain, meaning that all trading is completely transparent. The amounts present in each public account are publicly visible at any time, everything is done without any kind opaque trading, the market will be demand based and free from external manipulation. People can now buy the coin without any possible losses (except for trading fees) possible, but with potential gains, the user can trade between the two freely in this period and after.

Stage 2

The sell order is removed. People are wetting their pants in expectation of getting rich very soon. After some hours, the first "where is the dev?" posts start to appear while some not so bright posters answer back "give him time, he is probably just sleeping. stop spreading fud! we are strong community and need a logo contest!"

Finally, the dev appears again and makes a final statement, thanking you all for the 10-20 btc he just withdrew from the exchange.

Stage 3
Some of the most retarded investors declare that the "community behind this coin is still strong" and that they will just launch another coin with the same name.

Hey guys, maybe we did not make this clear enough, please read our open letter to all exchanges at the top of the main thread, we want to give all control to exchanges for this, we have no part and no control of the coin!
Essentially we want an exchange to setup an account only they have access to, and we will send the coins there, this means that we can't run away with the coins.

Trusting random coin developers with your BTC is stupid, and you shouldn't do that, they could run away with them anytime. Any trusted exchange we can get on, we would like to implement this systemt-

[italovers]

How about the IPO

[BaseCrypt]

How about the IPO

The open initial public offering is carried out via exchanges, it is phase one of the plan. As soon as an exchange agrees to the open letter, we can get going!
You will be able to buy any amount, and can trade them back at any time, and move them anywhere at any time. We won't have any option to withdraw or take any of either currency, it's all automated by the exchange.

After a few weeks, the sell orders are removed so the price can rise, you can now trade your coin t the new course, which is at least the value it was in stage 1.

[lionheart78]

How about the IPO

The open initial public offering is carried out via exchanges, it is phase one of the plan. As soon as an exchange agrees to the open letter, we can get going!
You will be able to buy any amount, and can trade them back at any time, and move them anywhere at any time. We won't have any option to withdraw or take any of either currency, it's all automated by the exchange.

After a few weeks, the sell orders are removed so the price can rise, you can now trade your coin t the new course, which is at least the value it was in stage 1.

i am not against this coin but it look to me like dumping your premined coin on exchanges, so no miner involved, no community behind, just pure selling of your premined coins, then those who bought your coins will be the so called community,, this means this coin is 100% selling damn it, a brilliant idea premining and selling all the 100% premined on exchanges ^^,

[halorose]

https://bitcointalk.org/index.php?topic=573998.new#new

ANN][TAC] TalkCoin | First Chat Coin | Voting system | NIST | No Premine/IPO
people are all talking about this talkcoin ! it is a so great innovation .
for it's new algo, also have no pool yet.who can make a pool for this particular coin?4000 talkcoins bonties for you.

[BaseCrypt]

How about the IPO

The open initial public offering is carried out via exchanges, it is phase one of the plan. As soon as an exchange agrees to the open letter, we can get going!
You will be able to buy any amount, and can trade them back at any time, and move them anywhere at any time. We won't have any option to withdraw or take any of either currency, it's all automated by the exchange.

After a few weeks, the sell orders are removed so the price can rise, you can now trade your coin t the new course, which is at least the value it was in stage 1.

i am not against this coin but it look to me like dumping your premined coin on exchanges, so no miner involved, no community behind, just pure selling of your premined coins, then those who bought your coins will be the so called community,, this means this coin is 100% selling damn it, a brilliant idea premining and selling all the 100% premined on exchanges ^^,

Yup, it's an investment oportunity, that's it, but that's part of the beauty. You are now escaping the arbitrary values, lowering chances of pumps and dumps, and anyone can still access the coin and get it.
The exchange gets their volume, the community gets their profit and transparency after all these recent scams, and we get the end orders left over at the last stage, everyone wins as the extra money comes from new demand.

But let's think about the oportunities as well expansion wise, you could make a FIAT based coin that always trades on one coin, base a base on another base, squaring the profit, getting guaranteed leverage, it gets longetivity and hype!

[dfletcher]

Very interesting. Hope to see this one show up on bittrex or mintpal soon!

[BaseCrypt]

Remember guys, 0.2BTC for the best summary of the concept, make it as simple and informative as possible! We'll give you 10K doge for just trying!

[afong9]

IPO SCAM!!
waht is "get your coins" do you know??

[BaseCrypt]

IPO SCAM!!
waht is "get your coins" do you know??

Please read throough our concept page and the exchange proposal again, this is not a scammable IPO! :-D

We do not control any coins, the distriubtion is equalised.

[BaseCrypt]

We're working hard on getting on exchanges, help us by showing that there is demand!

[BaseCrypt]

A simplified coin concept will be available this afternoon, it should make everything much easier to understand.

[BaseCrypt]

A simplified coin concept will be available this afternoon, it should make everything much easier to understand.

And it's up! We also redesigned some stuff!

[MsCollec]

Scam IPO with incompetent developer

[BaseCrypt]

Scam IPO with incompetent developer

  How could we scam?

[luvbeening]

Scam IPO with incompetent developer

the funny thing is..it's even not dare to say it's an IPO lol

[BaseCrypt]

Scam IPO with incompetent developer

the funny thing is..it's even not dare to say it's an IPO lol

Good point, adding IPO to the title!

Did you guys not read the post or am I missing something?
All the coins are given to an exchange, we'll have no control of it at all, we're giving up power.

It's slightly frustrating, we're proposing a way to make an IPO scam proof, and people don't read the thread and accuse us of things.

[BaseCrypt]

Scam IPO with incompetent developer

Please do read the thread!

[Bansheroom]

A simplified coin concept will be available this afternoon, it should make everything much easier to understand.

I hope so, did not understand what you are doing here.

You send 21M coins to an exchange, the exchange starts selling the coins for a fixed price and keeps the BTC from the sales to create buy orders for coin at the same fixed price. Correct so far?

What about fees? And how will you get some buck for your work then?
Will the coins be split to more than one exchange?

[BaseCrypt]

A simplified coin concept will be available this afternoon, it should make everything much easier to understand.

I hope so, did not understand what you are doing here.

You send 21M coins to an exchange, the exchange starts selling the coins for a fixed price and keeps the BTC from the sales to create buy orders for coin at the same fixed price. Correct so far?

What about fees? And how will you get some buck for your work then?
Will the coins be split to more than one exchange?

We put up the simple concept, it is in the §how does it work?" part

"You send 21M coins to an exchange, the exchange starts selling the coins for a fixed price and keeps the BTC from the sales to create buy orders for coin at the same fixed price. Correct so far?"

Exactly, then we stop selling coins, and the value can go up!

"What about fees?"

A user will have to pay those when they exchange unfortunately (but they are less than 0.5% total)

"And how will you get some buck for your work then?"

Donations, we'll take them once the coin hits the exchange (we don't want any before we release our product. If bittrex agrees, we may also get a percentage of the disolved buy order after 6 months. We are not doing this for profit, but our dream is making a Crypto tied to the US dollar on a peer to peer exchange.

"Will the coins be split to more than one exchange?"

For now, no, but it a really good possibility.

[richardn1987]

Premine and ipo scam. Im leaving this one alone.

[MsCollec]

Scam IPO with incompetent developer

  How could we scam?

Pawncoin is trying to do this that's why they developed an exchange that will have a fixed rate market. but i dont think yours will work because it's a bitcoin clone not 2nd gen coin.
https://bitcointalk.org/index.php?topic=508824.0

[BaseCrypt]

Scam IPO with incompetent developer

  How could we scam?

Pawncoin is trying to do this that's why they developed an exchange that will have a fixed rate market. but i dont think yours will work because it's a bitcoin clone not 2nd gen coin.
https://bitcointalk.org/index.php?topic=508824.0

I still don't understand why you would call us scammers, it'd be great to discuss if you doubt the concept though, also, pawncoin has a different idea.

[BaseCrypt]

Premine and ipo scam. Im leaving this one alone.

We cannot run awy with the coin, please read the post, we want to give all power to exchanges!

[BaseCrypt]

Scam IPO with incompetent developer

 How could we scam?

Pawncoin is trying to do this that's why they developed an exchange that will have a fixed rate market. but i dont think yours will work because it's a bitcoin clone not 2nd gen coin.
https://bitcointalk.org/index.php?topic=508824.0

Pawncoin is not going for basevalues!

[BaseCrypt]

Bounty for new logo up!

[Shiboshiwoofamoto]

Looks interesting, definitely something to look out for, I hope you guys get the attention you deserve.

Guys, read the post! They're scam-proofing the concept by giving all power to exchanges!

[BaseCrypt]

Looks interesting, definitely something to look out for, I hope you guys get the attention you deserve.

Guys, read the post! They're scam-proofing the concept by giving all power to exchanges!

Thanks a lot, we're in talks with exchanges!

[Kaisey Stephensss]

Seems interesting. in boat!

[BaseCrypt]

Seems interesting. in boat!

Great!

We~re working on getting our post design and social media running even better, we're making a subreddit and closing down our FB as it didn't gain attention, we now have 5K plus twitter followers!

[BaseCrypt]

Bounty for new logo up!

Mining concept coming tonight, we can make mining any coin more profitable.

[mackj]

The forum is that developers? There are some potential

[BaseCrypt]

The forum is that developers? There are some potential

Yes, we are the developers (along with a main coin creator) subreddit coming soon!

[claycoins]

Anything that says guaranteed profit is a scam/lie

[BaseCrypt]

Anything that says guaranteed profit is a scam/lie

Would you mind explaining why?

Cryptocurrencies have a unique arbitrary value, the demand that is added can make prices rise.

Could you please also explain how we could scam anyone? Our concept of handing distribution to exchanges seems like good concept to us, what can we do to make it better?

[claycoins]

well you can't guarantee the exchange will not get hacked/shutdown/steal for a start.  You cannot guarantee rising demand. What are you going to do to make this coin so special that more and more people will want to buy it?

[BaseCrypt]

well you can't guarantee the exchange will not get hacked/shutdown/steal for a start.  You cannot guarantee rising demand. What are you going to do to make this coin so special that more and more people will want to buy it?

That's the same for every coin though, an this scenario is not at all scamming.

We will post our mining conversion system this afternoon, essentially we want to get instant automated trading going.

Demand being 0 is extremely unlikely, and even then, nobody makes a loss.

The 1% PoS creates incentive to buy and hold.

And I still don't get how we, the developers could scam anyone? We are not keeping any of the premine. Why not ask those questions befor calling it a scam?

[sxh]

Great program, but unfortunately is an impossible task.

[BaseCrypt]

Great program, but unfortunately is an impossible task.

Thanks, and why?

[BaseCrypt]

A preview of our mining concept.

People give their specs on BaseCrypt.org (OS, GPU, CPU), and we generate a btch file for CGminer and generate a direct download link. The user also signs up for an exchange first, this exchange giv es the user a unique code wqhich includes their addresses for all their exchange wallets.
The person will mine a coin, like LTC via a pool that pays out via address every few hours, these LTC are converted to BBTC on the exchange automatically, after mining for some time, the user can be sure that their mining was atleast as efficient as LTC, and very likely even more.
This also generates a lot of volume for the coin, and lets users mine more easily.

[BaseCrypt]

A preview of our mining concept.

People give their specs on BaseCrypt.org (OS, GPU, CPU), and we generate a btch file for CGminer and generate a direct download link. The user also signs up for an exchange first, this exchange giv es the user a unique code wqhich includes their addresses for all their exchange wallets.
The person will mine a coin, like LTC via a pool that pays out via address every few hours, these LTC are converted to BBTC on the exchange automatically, after mining for some time, the user can be sure that their mining was atleast as efficient as LTC, and very likely even more.
This also generates a lot of volume for the coin, and lets users mine more easily.

We're working on it, but are still trying to get on exchange.

[BaseCrypt]

Extending our scope to certified exchanges!

[BaseCrypt]

Extending our scope to certified exchanges!

We're also looking at potential escrow options and the like, we're also down for community ideas on how to make the distribution trustworthy!

[doremi]

the funny thing is he not even dare to sat that 'it is an IPO' lol

[djm34]

interdasting approach to circumvent the escrow issue.

Stage 1

A near infinite (or the size of the base's supply) sell order is created on an exchange, any currency we get as a trade, we will put into sell orders within 24h (usually faster, once the sytem is tested the optimum time will be found), this sell order will always remain, meaning that all trading is completely transparent. The amounts present in each public account are publicly visible at any time, everything is done without any kind opaque trading, the market will be demand based and free from external manipulation. People can now buy the coin without any possible losses (except for trading fees) possible, but with potential gains, the user can trade between the two freely in this period and after.

Stage 2

The sell order is removed. People are wetting their pants in expectation of getting rich very soon. After some hours, the first "where is the dev?" posts start to appear while some not so bright posters answer back "give him time, he is probably just sleeping. stop spreading fud! we are strong community and need a logo contest!"

Finally, the dev appears again and makes a final statement, thanking you all for the 10-20 btc he just withdrew from the exchange.

Stage 3
Some of the most retarded investors declare that the "community behind this coin is still strong" and that they will just launch another coin with the same name.

stop copying sharecoins 

[jy02434480]

new thing always catch people's eyes, looks great, good luck!

[BaseCrypt]

the funny thing is he not even dare to sat that 'it is an IPO' lol

Because an IPO is an initial public offering which is preset, this is consistent initial distribution...