[PRE-ANN][RKN] RedKoin - A Glorious Coin For The Glorious State [POLL]

[RedKoin]

https://i.imgur.com/zfPnQHZ.png
Proof Of Stake | Faucet Distributed | Soviet Bear Approved

MANIFESTO
Comrades, GPU rig and ASIC rig miners, exchange and pool operators,
men and women workers, men and women collective altcoin traders,
intellectuals, on behalf of Glorious State and our Red Party I
greet you and introduce you the great new RedKoin!

Comrades, today we must celebrate, RedKoin can deliver us from this
difficult situation we are in. The silly Capitalists of West with
their "Proof at Work" coins have met ruin at hands of rampant
inflation. The oversaturation of altcoins has culminated in
tremendous failure and the hashing war that has been forced upon
us has created a threat to our computer hardware. Many of us have
lost good computers as result of these inefficient algorithms.

There was a time when our digital economy was in a still more difficult
position. Recall the year 2011, when Forbes predicted the end of Bitcoin
after a sharp drop in price. At that time the price had dropped from $17
to pennies at the hands of a large dump. It took very long time to recover,
and most thought it never would. We had no allies, we had no RedKoin-we
had only just begun to create it-and we experienced a shortage of AMD GPUs.

Today our Glorious State is in a far better position than it was 3 years ago.
Today marks the the beginning of the era of the RedKoin. Today we can rise
above the faulty system in set in place by The West if we join together.

Let the victorious banner of the great RedKoin fly over your heads!

Utter destruction to Proof of Work mining!

Death to the altcoin armies of Capitalism!

Long live our glorious motherland, her freedom and her independence!

Under the banner of RedKoin-onward to victory!
___________________________________________

RedKoin is planned to be a 100% proof of stake coin, except for the premine.
The premine will be transparently distributed and monitored using an official faucet and block explorer.
The public address of the faucet's wallet will be publicly available on launch.
The faucet will follow a exponential decay model, paying out highly at launch and then tapering off quickly within a week.
The exact amount of the premine is still up for debate. The initial planned amount was to be 50% but we decided that it was best left up to the community.
If you want to vote on the size of the premine, go here: http://strawpoll.me/1831041

[catlady]

looks very promising comrad

voted for 50% distribution premine for the facuet, can't wait to get some fresh RKN!

[workminer]

let me have a look

[RedKoin]

https://i.imgur.com/kVC8Gzs.jpg

[platorin]

Mate, do you have any idea what Soviet Union and communism really was? I guess not, because if you had any, any at all, you would not make such things trying to earn money on them.

[uninterpreted]

Mate, do you have any idea what Soviet Union and communism really was? I guess not, because if you had any, any at all, you would not make such things trying to earn money on them.

I'm not sure how relevant you think your comment is. Yes it is ironic that the coins will be sold for profit, but I think it's just the branding they chose and it's obviously satire.

You obviously don't know much about communism or the Soviet Union. OP, I like your little speech. It's a rewrite of Stalin's October Revolution speech, yeah?

[RedKoin]

...OP, I like your little speech. It's a rewrite of Stalin's October Revolution speech, yeah?

Yes, I'm surprised it was noticed so quickly. It was much fun to write.




I have gotten few PMs asking logistics. To clear confusion, RedKoin will not be Proof of Work after launch. The premine will be Proof of Work, and then distributed completely using a faucet. The faucet output will follow equation: y=10000(1-0.5)^x/x+1
At launch, faucet will give random output between 0 and 5000 RKN to each user. At end of first day, output will reduce to between 0 and 1200 RKN. After eighth day, faucet will only output between 0 and 1 RKN. This is to encourage early adopters and prevent inflation later on.
Numbers listed above are based on a 50% premine. Premine percentage is still up for vote in OP.

[uninterpreted]

Yes, I'm surprised it was noticed so quickly. It was much fun to write.




I have gotten few PMs asking logistics. To clear confusion, RedKoin will not be Proof of Work after launch. The premine will be Proof of Work, and then distributed completely using a faucet. The faucet output will follow equation: y=10000(1-0.5)^x/x+1
At launch, faucet will give random output between 0 and 5000 RKN to each user. At end of first day, output will reduce to between 0 and 1200 RKN. After eighth day, faucet will only output between 0 and 1 RKN. This is to encourage early adopters and prevent inflation later on.
Numbers listed above are based on a 50% premine. Premine percentage is still up for vote in OP.

I'm a bit of a history buff so I started cracking up reading it especially that part about the AMD graphics card shortage. 

In regards to the faucet, that seems like a cool way of distributing coins. I'm definitely interested, do you have a website up?

[DarkLamp]

Mate, do you have any idea what Soviet Union and communism really was? I guess not, because if you had any, any at all, you would not make such things trying to earn money on them.

This seems to be more of an experiment, to see if (transparently and fairly distributed, ala faucet) Proof of Stake coins are sustainable with a premine <= 50%, in my opinion.

I don't see how the OP would make profit on something transparently and fairly distributed, you shouldn't be so quick to judge on intentions.

If the blockchain is available and faucet works well and the coin is evenly and fairly distributed, I don't see how the branding is an issue, it seems to have a lot of potential, especially with memes. Perhaps if someone photoshopped some propaganda, it would help the coin's appearance, as it's a little bare at the moment.

I'll be watching this thread closely as it has a lot of potential from what I've read so far. The dev seems active and involved and ready to answer and questions.

[brasilianfutbal]

i like this coin

gon 2 share wit my friends in my football team they r looking 2 get into internet crypto money, and this is a good opportunity for those who are unable to mine

I will hold my coins for a while!

[Wolf Rainer]

Comunist coin?

[splitting]

Comunist coin?

yeah it seems to be playing off of the popular "faux soviet" theme, not really communist per say.

If the coin devs do as they promise and deliver the premined coins to the community, I could see this coin taking off.

[lubing7683]

What is the total coins?

[RedKoin]

What is the total coins?

The total is ten million.

[RedKoin]

Sorry for delay, comrades.
I am working on genesis block for Glorious RedKoin. Coin will launch in coming weeks.