[ANN] RealCoin - Targeted to the IM world!

[Sherkel]

I'm on board, for now anyway. People may not support it but I don't see anything wrong with trying out a new altchain. I have a couple of questions:
1. In the RealCoin faucet, what do you mean by "they will be given to the first 10,000 to join?"
2. What algorithm are these generated by? More specifically, is it GPU-friendly?
3. How can I get involved?
I have a feeling I'm going to be hated on for being eager; just don't bother, please.

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[TheGlobber]

Well i guess you could simply scan the OP once more to see where all the fiat currency will go.

As i explained, the fiat currency will be used as a "reserve" as well as a funding source for businesses within the RLC network as well as businesses that have been developed around the BTC network.

As for rest 2,1 mil RLC:

1) 1,05 mil RLC will go towards continuous development of the RLC client

2) 1,05 mil RLC will go towards the founders and investors ( i am not the only one, i am just well know in some forums and was chosen to promote RLC ) to hedge the risk taken. These RLC will be used for numerous everyday life costs. Also these 1,05 mil RLC is what will give RLC its initial exchange price since a little more than $10k were spent on this project.

About the exchange, well we do have to start from somewhere, dont we? After the initial distribution has been down then any exchange can simply add RLC to their inventory.

The plan has been carefully laid out and there are several things that will make RLC different.

IMHO, a lot more currencies need to be created with different targets, goals to see and choose the best in the future.

[bulanula]

Well i guess you could simply scan the OP once more to see where all the fiat currency will go.

As i explained, the fiat currency will be used as a "reserve" as well as a funding source for businesses within the RLC network as well as businesses that have been developed around the BTC network.

As for rest 2,1 mil RLC:

1) 1,05 mil RLC will go towards continuous development of the RLC client

2) 1,05 mil RLC will go towards the founders and investors ( i am not the only one, i am just well know in some forums and was chosen to promote RLC ) to hedge the risk taken. These RLC will be used for numerous everyday life costs. Also these 1,05 mil RLC is what will give RLC its initial exchange price since a little more than $10k were spent on this project.

About the exchange, well we do have to start from somewhere, dont we? After the initial distribution has been down then any exchange can simply add RLC to their inventory.

The plan has been carefully laid out and there are several things that will make RLC different.

IMHO, a lot more currencies need to be created with different targets, goals to see and choose the best in the future.

You really expect us to believe this, right ? Total BS. Spending 10k for an altchain = LOL.

Hopefully the mining Fuhrer will come along and close this sham just like CLC.

[Come-from-Beyond]

How r u going to protect ur *coin against attacks of guys like Luke Jr.? Read https://bitcointalk.org/index.php?topic=56675.0 to know what could happen.

[Schwede65]

If i correctly understand what your question is then the answer is the RealCoin Fund which is explained in the OP.

All fiat currency amassed from the selling of the 6,000,000 RLC will be gathered together and work as a "reserve" (as Mark correctly pointed out earlier) as well as a funding mechanism for new businesses to develop around the RealCoin network.

I have seen numerous examples of Bitcoin businesses that provide a really good or unique service to the Bitcoin community and it would be awesome to attract them to the RealCoin network as well as create new businesses.

The key thing to notice is that the fiat currency will be thrown back in the RealCoin network.

Who will get the equivalent value for the 6 million RLC, distributed/sold in the first 30 days?

Who is the owner of this "reserve", who has access to it?

[TheGlobber]

Thanks for having an open mind. There is no harm in trying out different things. Bitcoin will always be here so you can use it, use both or use RLC or use none. Up to each one to decide.

1. Excuse me for this. This should have been more clear. Well to give a boost to the RLC at least in this prelaunch phase, there was the idea of rewarding the first 10k people to join the project (through the official community www.realcointalk.org) with 10 RLC each. This offer will be available till the last day of the 30-day period of the exchange selling the initial 6 mil RLC. If less than 10k people join till then, then the amount of the 100k RLC will be split equally to each one.

2. The mining algorithm is CPU-friendly for now. GPU will be available at a later stage. Also mining is done only through the official client at least for the initial stages.

3. First, go to www.realcoin.org and take a look at the info provided and the click the Join Now button and register an account in the community.

I dont see people hating you for trying something different. You can actually use both coins. Its probably the best solution.

I'm on board, for now anyway. People may not support it but I don't see anything wrong with trying out a new altchain. I have a couple of questions:
1. In the RealCoin faucet, what do you mean by "they will be given to the first 10,000 to join?"
2. What algorithm are these generated by? More specifically, is it GPU-friendly?
3. How can I get involved?
I have a feeling I'm going to be hated on for being eager; just don't bother, please.

[TheGlobber]

$10k were spent on the total project not just the client.

This includes:

1) The client
2) The exhange
3) The websites
4) Hosting/Servers (ongoing fees)
5) Advertising (more advertising at least till launch)
6) Collateral expenses

I dont see the reason you are being offensive but i am not here to argue.

Well i guess you could simply scan the OP once more to see where all the fiat currency will go.

As i explained, the fiat currency will be used as a "reserve" as well as a funding source for businesses within the RLC network as well as businesses that have been developed around the BTC network.

As for rest 2,1 mil RLC:

1) 1,05 mil RLC will go towards continuous development of the RLC client

2) 1,05 mil RLC will go towards the founders and investors ( i am not the only one, i am just well know in some forums and was chosen to promote RLC ) to hedge the risk taken. These RLC will be used for numerous everyday life costs. Also these 1,05 mil RLC is what will give RLC its initial exchange price since a little more than $10k were spent on this project.

About the exchange, well we do have to start from somewhere, dont we? After the initial distribution has been down then any exchange can simply add RLC to their inventory.

The plan has been carefully laid out and there are several things that will make RLC different.

IMHO, a lot more currencies need to be created with different targets, goals to see and choose the best in the future.

You really expect us to believe this, right ? Total BS. Spending 10k for an altchain = LOL.

Hopefully the mining Fuhrer will come along and close this sham just like CLC.

[TheGlobber]

Thats the job of the developers. They have taken measures against this and they have a strong technical background to avoid such attacks. Also this is one of the reasons for keeping the source private for the initial stages.

How r u going to protect ur *coin against attacks of guys like Luke Jr.? Read https://bitcointalk.org/index.php?topic=56675.0 to know what could happen.

[P4man]

Im confused. Basically all coins are premined, right? So who will mine and for what purpose? And how is that going to stand up against a 51% attack?

[TheGlobber]

The whole community. The RealCoin Fund will be manned by regular members of the community and you could be one of them. It is all fair for everyone.

You will be able to join the Fund and have your say and vote on where the funds will go, how they will be used or propose new ideas.

In any case, the fiat currencies will be thrown back in the RLC network in any possible way.

If i correctly understand what your question is then the answer is the RealCoin Fund which is explained in the OP.

All fiat currency amassed from the selling of the 6,000,000 RLC will be gathered together and work as a "reserve" (as Mark correctly pointed out earlier) as well as a funding mechanism for new businesses to develop around the RealCoin network.

I have seen numerous examples of Bitcoin businesses that provide a really good or unique service to the Bitcoin community and it would be awesome to attract them to the RealCoin network as well as create new businesses.

The key thing to notice is that the fiat currency will be thrown back in the RealCoin network.

Who will get the equivalent value for the 6 million RLC, distributed/sold in the first 30 days?

Who is the owner of this "reserve", who has access to it?

[TheGlobber]

No. Around 8,200,000 will be premined to reach the same number as BTC in circulation.

The rest coins will be mined at the same rate as the BTC.

Everyone will be CPU mining (at least all those who leave the mining option enabled on the official client). At a later date, we will switch to GPU-mining with the potential introduction of separate mining clients where it will be work as usual for the regular miners.

There are key differences in the mining algo and thats the reason for keeping the source code private.

Im confused. Basically all coins are premined, right? So who will mine and for what purpose? And how is that going to stand up against a 51% attack?

[TheGlobber]

I will be out for 1 hour so please behave till i get back. 

Thanks in advance.

[jwzguy]

You think pre-mining 8 million coins gets you "up to speed" with Bitcoin? Seriously? 

[westkybitcoins]

It seems like I won't be able to get onboard with this one. Between the pre-mining and the level of centralization, there are too many angles I don't agree with, and not enough added benefit to counter it.

Good luck to you though; here's hoping you don't get Luked.

[DeathAndTaxes]

It seems like I won't be able to get onboard with this one. Between the pre-mining and the level of centralization, there are too many angles I don't agree with, and not enough added benefit to counter it.

That is what I don't get.  I mean SolidCoin is a worthless scam but the author at least "tried" to build in 51% protection.  IMHO (and based on hashing power most users agree) the benefit of 51% protection doesn't outweigh the centralization and other negatives.  A classic case of the cure being worse than the disease.  

This project is an almost exact copy of Bitcoin w/ no added benefits or features (no a different client isn't a feature you can make a different client for Bitcoin).  So it is premine & centralization for absolutely nothing better. I didn't think it would be possible for someone to come up with something worse than ScamCoin but I have been proven wrong.

[bulanula]

I didn't think it would be possible for someone to come up with something worse than ScamCoin but they did.

Strange thing is the website looks just like LTC website too !

Anyway, I think RealCoin is the best thing since sliced bread, really. It is going to solve global warming and female infertility all in one !

How can I become a fund director ?

Forget Bitcoin, use a RealCoin !

"Important : The RealCoin is NOT a get-rich-quick scheme or a Ponzi scheme"

[kwaaak]

As a security measure the source code will not be available for now.

lol

[kwaaak]

by Internet Marketers for Internet Marketers

lol

[Come-from-Beyond]

What the point to premine exactly the same qty of coins as Bitcoin has now? Just to answer the question "Why have u premined so many coins"?

[Syke]

So a clone of Bitcoin with a CPU-friendly algorithm and tons of per-mined coins. Sounds useless to me.