What is House of Glass?
House of glass is what you want it to be! The very basic premise of the coin is that a revenue generating business model will emerge. Each coin holder will receive a share of the revenue directly proportional to the percentage of coins they have. Similar to a stock. The only technical requirements, are that the coin be pure POS. This is due to the fact that the coins will be similar to stocks, every coin represents a vote. Voting decides all aspects of the coin. It wouldn't make sense to have POW mined coins. You will, however, earn staked interest on the coins you hold. The longer you hold them, the more they'll appreciate, and the more dividends and vote power you'll get.
Every decision will be voted on and publicly accessible on the site, public transparency is the number one priority.
A complete set of by-laws has been created, they are the foundation to progress the idea forward. Elections, board members, committees, voting process, it's all spelled out and publicly accessible. They are only a draft and may change slightly before launch, I would like to reserve the right to modify them if needed. Full disclosure when doing so, of course.
How do I earn money?
There are two ways you will increase your value.
- Staking the coins through POS.
- Dividends from the business model
Staking will be at
whatever percentage the group decides on. You could periodically cash in your staked coins and keep the value from that, or let it keep growing.
Dividends will be voted on through polls. If the house earns profits on whatever business model they choose, and decide to payout. You'll get a percentage based portion of those payouts.
Why IPO?
Funds are needed in almost any business venture. Hardware isn't free. If the coin holders vote to purchase hardware to mine other coins, capital will be needed. The developers will never have access to the IPO funds, it will be held by an escrow service which is chosen by those that wish to vote. There is no minimum number of coins to be a member of the site. As long as you have one coin, you get a vote in the direction of the business, and a portion of the proceeds. I would like to have an exchange sell the ipo coins, once the HoG is distributed to investors, the IPO BTC would be released to the escrow service. I have no interest in ever holding the IPO coins.
Current Development
Significant strides have been made to integrate a custom polling solution. I chose to integrate with the SMF framework, I'm familiar with LAMP, and most users are familiar with the SMF interface. This integration allows for HoG owners to verify their wallet addresses, and have their coins accounted for at all votes. Weighted voting has already been integrated and is verified working. Every single coin can be used as a vote.
The forums have been well thought out and membership roles and permissions have already been assigned. I encourage you to go check it out.
If no exchange is willing to do the IPO offering, and a manual IPO offering is needed, there is already a integrated system for users to see what their expected payout on IPO will be. It's based on how much is bought in and total coins available. It only requires that you submit a signed message to verify you're the address owner that sent the IPO. Once an admin verifies it, your expected coins amount will show up on your profile page. The easiest way to distribute IPO would be through an exchange, however, there is an alternative already in place.
This has already been tried and failed miserably, why do it again?
Yes it has. And I lost .46 btc because I believed in the idea (House of Coins) that a group of intelligent people could come together and make decisions that would further a coin along better than a single person or small group of devs. And thus be a good long term investment. Unlike the last dev (bitoffer) who ultimately ran off with the 20 bitcoins, I will not hold the coins, have spare time to dedicate, and have a desire to build something as a long term investment. Several of the people I have been talking to about this, have exchanged names and phone numbers with me. I will not hide behind a new username, I use mojpoj (or a version of it) everywhere, exchanges, IRC, pools, and forums.
I will not BS anyone, I have almost zero coin dev experience. I can read C code and tell you what it's doing, but that's about it. Since the specs of the coin haven't been decided, we need a coin dev to create a POS coin with the specifications that get voted on. I will require any coin dev that comes on board, to provide me their verifiable information, no questions about it.
How can we trust YOU?
First and foremost, be wary of everyone. Never invest more than you're willing to lose. With that said, if you want my name, personal email, and address, just PM me. I have a uncommon name, and can be easily found on the web. I have nothing to hide.
How do we vote if coins aren't distributed?
There's the "catch 22." The polls that decide the coin specs and escrow holder will all be decided by a 1 for 1 voting. Every person gets one vote, whether you end up buying IPO or not, your vote will count. If you decided you don't like how the voting went, you have no obligation to buy into the IPO. Once the coin is released, all future votes are weight based, based on the number of coins you have registered in the system.
ImagesAdd HoG wallet addresses
HoG member list showing sorting by total HoG or IPO
Weighted polling
