[ANN] [SIL] Silvercoin

[Earthgiver]

                                                            

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What is it about crypto-currency that makes it so intriguing? That millions of people will buy, trade and spend something that has no physical value. If we tried this outside of the internet realm it probably would not work so well. What if I took a piece of paper and drew a design on it and told you I would buy your watch with it because it is worth, according to my design, the limited supply and a few other calculations, roughly $300. But your watch is only worth $100. Are you going to give me your watch plus $200 of your hard earned money? No! I don't think so!  For this reason, Fiat currency will only hold out until the first doubts start to rise.
[Bitcoin and Alt-coin’s] exist because we support them, we vote for them, we elect them and it is by popularity and our Hope in them that they increase. What happens if one day that support stops, hope stops? What happens when people fully understand that they have invested billions of dollars in something that has no physical value? Will anyone refund your money, your time and dedication that you have put into supporting and strengthening this imaginary investment? If paper money used by countries fail because they have become semi-fiat in only being partially backed by a commodity like Papiermark(Germany), Peso(Argentina), Dollar(Zimbabwe), Sol(Peru), Escudo(Chile) and currency like the U.S dollar that is falling in value and recognition around the world, then what makes us think that a full fiat currency will last forever? I for one don’t think it will. Its new, its exciting, it is fun to be a part of the change, to be on the forefront of the technological super currency. This will fade with time as it loses its novelty. Everything fades with time. It has already started in the alt-coin world. The stale, seemingly motionless rise and fall of the all mighty Bitcoin, when everything is going in Bitcoin's favor and the other Major alt-coins are seemingly only drifting in cyber-space, not making major gains. The junk coin creators can see it. That’s why there are so many new coins coming into the market. A young lion won’t attack the strong and healthy pack leader. It is when that leader becomes old and tired, that all the young lions attack. Is that not what we are seeing? If I am correct BTC was worth over $1,000 per coin at one time, right? Why then are we sitting at just over $500? Is that a shining example of sustainability?

So, if I dislike it so much why in the world would I attempt to join in the madness? Well to be quite honest I like money, as do most of you, I suspect. I also see an ability to take something that could be better and make it great. Because the idea of crypto-currency works, what is missing is something to give it value. Something, so that we know that even if all else fails, we still have something solid in the end. So, with that thought in mind...

I bring you Silvercoin (SIL)
 The Silver backed crypto-currency. Each coin has value because every coin is backed by real 1/10 .999 Fine Silver. Every coin has a true stated value. As a crypto-currency it is fluid, you can hold it in a e-wallet, e-vault or paper wallet  and just make money as silver increases or you can spend it in an online store or on a game, you can even sell it back for a known value. The other thing about Silvercoin that you are not going to get from all the other alt-coins is a guarantee of return. There is a 10% feed-in from anything sold in the Silvercoin store or made from Silvercoin games. That 10% is evenly dispersed over the previously purchased Silvercoins. You also get 10% from Battle Tokens. The more coins that are bought, the higher we drive the silver market. The higher we drive the silver market the more money you make. When silver prices increase you make money. If the Silvercoin store makes money, you make money. If our betting games make money, you make money, when battle tokens make money, you make money.  The dollar amount grows and the amount of silver you have grows,
So stop playing with your imagination.  Isn’t it time you got physical?

Follow us on Twitter for Launch Time and Date

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SilverCoin
SIL

x-11
POW
No Block Halving
Coins Per Block - .02+
Target Spacing- 3min
Target Time Span- DGW3
Transaction Confirmations- 6
Maturity- 21 blocks
Max SilverCoin- 120,000,000
P2P Port-11060
RPC Port-21060

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You have to remember when you look at this, that this isn't comparable to any launch you have read before. This real silver can't be given out at ten thousand ounces every day to be mined. There has to be accountability, that the value of this coin cannot be compromised. So here is how the pre-mine and distribution works

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120,000,000 coins
113,150,000 pre-mined for step distribution
3,696,720 step mining avail
3,000,000 games and giveaways
153,280 for shipping, depository and fees etc
Coin only distributed for 5 years and mined for 110 years.

year 1 - 10,000 coins per day will be launched, mined award per block is .02
year 2 - 20,000 coins per day will be launched, mined award per block is .04
year 3 - 40,000 coins per day will be launched, mined award per block is .06
year 4 - 80,000 coins per day will be launched, mined award per block is .08
year 5 - 160,000 coins per day will be launched, mined award per block is .10
year 6 - mined award per block is .12
year 7 - mined award per block is .14
year 8 - mined award per block is .16
year 9 - mined award per block is .18
year 10 - mined award per block is .20
year 10-100 - mined award per block is .20

I know I am supposed keep this short, so please see our FAQs/Q&A for more info!

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On the website, instead of faucets, we have a variety of games you can play. You enter your name and you add your wallet address into the email section. Just your wallet address! You can play each game once per day.
This is also where we host the SilverCoin store.  All prices are listed in (s) SilverCoin. You pick your items, go to your shopping cart and check out. An invoice is sent to you with the payment address for the wallet.  As soon as you pay the amount due the order is processed and shipped. Jewelry is shipped from China and takes a couple of weeks and there are no returns to China, so make sure you check sizes on Rings etc before you buy. This is also where you go to buy Silvercoin.

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When buying SilverCoin, I ask that you have some understanding with regard to transaction times. It is very foreseeable that we will have many orders to process at the same time. We will process orders as fast as we are able to do so. Make sure that when you buy SilverCoin you put your wallet address in the field above the "Buy Now" button. When you decide to sell SilverCoin back to us - no more jumping through hoops to try to get real money instead of gift card's - we will buy back SilverCoin from you.  This does however take a couple days as we do have real silver we have to move to get you paid. Mints are much faster to take your money than to give you your money. This will at least happen in the beginning, since we will likely have some refinement of our processes as we mature. Once a larger reserve is built it should then become a much more streamlined, expedited process.

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Feel free to try out the games that are on the website. It should go without saying that anything you win before launch is void and will not be paid out. Some of the prices in the store still have to be adjusted, and more items will be added prior to launch.

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To those that are thinking about copying this idea with Silver, Gold, Copper etc. Let me issue a word of caution to you. If you do not know what you are doing when it comes to Buying, Selling and Trading Commodities or Currency in the real world. STOP. This is not a game! you are no longer playing with imaginary coins. This is real, and real consequences come if you make mistakes. You have been warned and I have no pity for you if you try and cannot overcome the known and unknown obstacles that lay before you.

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All Bounties will be paid in SilverCoin

Translations
Block Chain Explorer
Coin Wheel
Paper Wallet and Imagery

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[KeyserSozeMC]

Nice graphics

[bathrobehero]

Oh look, it's x11, who would have thought...

[McNulty]

120,000,000 coins
113,150,000 pre-mined for step distribution

better and better...

[Vagnavs]

113,150,000 pre-mined for step distribution


The Silver backed crypto-currency. Each coin has value because every coin is backed by real 1/10 .999 Fine Silver bullion. Every coin has a true stated value, and at the time of my writing this, each coin is worth USD $2.86.

Silver is at about $20...

seriously? Move along people..

[Earthgiver]

Reading and understanding is something that has to be put into place here. I said 1/10 oz silver not 1oz silver. Feel free to check any mint for 1/10 oz silver and then see if you still want to complain. we are less and that is before they add shipping and handling. Just a note. For those that want be angry over pricing. This is not play money or pretend tokens. Thanks for checking in.

[delphs]

omg seriously??

First of all crypto backed by goods is pretty much going against everything crypto stands for! Now the coin can be manipulated by market and government... way to go!

Second, 94% pre-mine? really? you do realize how ludicrous this is right?

Third, stop playing with your imagination? WTF?? without imagination, crypto wouldn't have happened!

[Earthgiver]

omg seriously??

First of all crypto backed by goods is pretty much going against everything crypto stands for! Now the coin can be manipulated by market and government... way to go!

Second, 94% pre-mine? really? you do realize how ludicrous this is right?

Third, stop playing with your imagination? WTF?? without imagination, crypto wouldn't have happened!

Seriously, you obviously have no idea what you are talking about, i am not being offensive. please check out my Q&A, i answer the question about decentralization. And please let me know how you would back this with out a pre-mine. i am really interested in how that would work. Coins are already manipulated by the market. and I am not the government so not sure you issue here.

[IMJim]

Yeah man, I'm not feeling it either with the HUGE premine and yet another brand new account.

Do love the graphics though:-)

[Melds]

Wow that premine is insane.... how is this even gonna work >.>

[Earthgiver]

Yeah man, I'm not feeling it either with the HUGE premine and yet another brand new account.

Do love the graphics though:-)

thanks did them myself  , I am sure you can understand that it would be impossible to back a coin with out pre-mining it. But glad you dropped in.

[delphs]

omg seriously??

First of all crypto backed by goods is pretty much going against everything crypto stands for! Now the coin can be manipulated by market and government... way to go!

Second, 94% pre-mine? really? you do realize how ludicrous this is right?

Third, stop playing with your imagination? WTF?? without imagination, crypto wouldn't have happened!

Seriously, you obviously have no idea what you are talking about, i am not being offensive. please check out my Q&A, i answer the question about decentralization. And please let me know how you would back this with out a pre-mine. i am really interested in how that would work. Coins are already manipulated by the market. and I am not the government so not sure you issue here.

We buy silvercoin from you, you use that money to buy real silver and stash it somewhere, at any moment we feel like cashing out, we send you silvercoin and you send us silver. That's pretty much the idea.

In this concept, we'll need to know who you are, where you live, where your store/office is, a legal contract stating your business model. Without that we can't sue you if you just decide to say "fuck it" and run with the money. An actual legal entity needs to be responsible for this otherwise it's just a scam. Now if you are now in business of buying and selling silver, you need to pay taxes and shit. Also you need to ship us the silver when we cash out, shipping costs will be expensive, you know how heavy silver is.

So now you have all those expensive cost and fees, I'm not paying for it, what a waste of money. I'm sure you don'T want to pay for it either. So how are you suppose to make a 2-5% return a year again? Specially if the price of silver goes down? Don't forget your guaranteed that return.

So tell me again why I have no clue what I'm talking about?

[IMJim]

Yeah man, I'm not feeling it either with the HUGE premine and yet another brand new account.

Do love the graphics though:-)

thanks did them myself  , I am sure you can understand that it would be impossible to back a coin with out pre-mining it. But glad you dropped in.

For sure, can definitely understand the need for premine at times, but can't wrap my head around the amount on this one!

[louiseth1]

Wow those are really cool Corel-grade graphics! Takes me back in 1998! Now for the serious stuff:

113,150 000 (premine) out of a total of 120,000,000 coins = 94,29167% premine

END OF DISCUSSION.

PS: "Coin only distributed for 5 years and mined for 110 years."
You should know coins now have a lifespan of what... 3 weeks to 1 month max given the current altcoin market situation? You might want to review your schedule.

[IMJim]

Well, I'm glad to see the community welcoming this idea with open arms

[delphs]

Well, I'm glad to see the community welcoming this idea with open arms

unfortunately, we live in a time of scams and not innovation. Random claim can't be make without proper inspection and transparency is needed in multiple cases.

My main complaints aren't that the idea has no merit but the lack of information, planning, explanation and expectation makes it look like the worst possible investment.

[Earthgiver]

I do find it amazing that we are having issues with the fact that this coin is pre-mined. If anyone who has quoted the pre-mine amount had some comprehension of what is going on here, the issue as it were would not be an issue. but that is the problem with something new. people will fight to understand it or opt not to understand it at all. You can not back a coin without pre-mining it. you can not back something unless you HAVE it first. It is really not that complicated. The other part of the problem would be very few people have even read above. they log in look at the pre-mine and wig out. little do they realize what this coin is or the amount of money they can make by owning it. before you post at least read what the coin is. If you are ranting about pre-mine it simply means you don't get it.

[louiseth1]

I do find it amazing that we are having issues with the fact that this coin is pre-mined. If anyone who has quoted the pre-mine amount had some comprehension of what is going on here, the issue as it were would not be an issue. but that is the problem with something new. people will fight to understand it or opt not to understand it at all. You can not back a coin without pre-mining it. you can not back something unless you HAVE it first. It is really not that complicated. The other part of the problem would be very few people have even read above. they log in look at the pre-mine and wig out. little do they realize what this coin is or the amount of money they can make by owning it. before you post at least read what the coin is. If you are ranting about pre-mine it simply means you don't get it.

Where have you been the passed two months?

Sadly even tho I believe a slight premine is required to maintain the coin, 94% is just too high. The potential of scam is way to risky given the current situation in altcoin industry. Also the claims made by the devs are pretty much loose, see below..

How can the dev claim the coin is worth 2.X $? "It's back by silved" or so he says.. It's not  even being circulated yet, and AFAIK I don't think the developper bought enough silver to back this up.. a total of 120 000 000 coins at 2­.83$/coin would mean there needs to be 339,600,000$ worth of silver to back this one up.. nonsense.


PS: By the way you have 7 posts.. I think you are the one that have no comprehension of what is going on here..

[delphs]

I do find it amazing that we are having issues with the fact that this coin is pre-mined. If anyone who has quoted the pre-mine amount had some comprehension of what is going on here, the issue as it were would not be an issue. but that is the problem with something new. people will fight to understand it or opt not to understand it at all. You can not back a coin without pre-mining it. you can not back something unless you HAVE it first. It is really not that complicated. The other part of the problem would be very few people have even read above. they log in look at the pre-mine and wig out. little do they realize what this coin is or the amount of money they can make by owning it. before you post at least read what the coin is. If you are ranting about pre-mine it simply means you don't get it.

100% premine coins exist and did well... they all have a proper plan and explanation on how the coin would be manage.

Right now it feel like a teenager in his parent's basement will be getting all the money. Where's the plan? the escro? the accountability the money and premine will be use properly and protect investors?

The concept isn't bad but you need a hell of lot more in your business plan then this ANN to have people join in

[Earthgiver]

Well, I'm glad to see the community welcoming this idea with open arms

unfortunately, we live in a time of scams and not innovation. Random claim can't be make without proper inspection and transparency is needed in multiple cases.

My main complaints aren't that the idea has no merit but the lack of information, planning, explanation and expectation makes it look like the worst possible investment.

i did state above that there is more information on the website in the Q&A section. Please feel free to look there for more information. If you have any other questions as stated in the Q&A section feel free to email me. And i can tell you that there has been a lot of planning involved. We have worked on the implementation of this for almost a year before we ever decided to build a coin. And during that time the coin building processed changed ten different times. There can be a million questions asked and answered. It is just going to take seeing it in motion when we have the first depository Audit preformed and then people are going to realize that it is all what it is said to be. We were not unprepared for the bitcoin addicts  to bash it or the nonbelivers to question it. I have been in business for many years. When you bring something new to the table the first time everyone is a skeptic. thanks for your input