Update August 23, 2014: UseMarket due for EARLY SURPRISE LAUNCH. With just over 300 people signing up for UseMarket beta, we have decided to "semi-ninja" launch the UseMarket. Skipping the closed public beta testing phase. In exactly 24 hours from now at
12AM EST tomorrow, we will be posting the UseMarket address for EVERYONE to access. We will consider it the official launch.
We initially planned to launch the now fully completed UseMarket on the 9th of September. However, with such a great initial launch and success we have decided to push it forward and have it launch earlier. Based on observing other failed cryptos, a lot of them had great features planned but simply released it too late. We realized creating and developing a crypto is much like starting your own business from scratch. There will be other businesses, other coins, constantly competing with us. And the altcoin market is saturated.
We decided to simply pull ahead by launching UseMarket since it has passed all internal tests. We see no reason to delay the launch another 2 weeks when it is ready today. So, 24 hours from now is when UseMarket will be officially launched. Along with UseMarket, we will be releasing the whitepaper for UseMarket as well.
COUNTDOWN TO LAUNCH: http://bit.ly/1mxLPeAThanks everyone for your support and interest in our coin. Without the community, UseCoin would not have had picked up so much traction in the crypto market. Thank you so much.
We hope the UseMarket will bring a revolutionary change to all altcoins, holding a higher standard than what it has been for the past year or more.
Update August 21, 2014: IPO Distribution mostly completed. We apologize for the delay in getting the IPO coins out to all phase 1 investors who used the escrow route. There were some unforeseen circumstances that caused the escrow delay in distributing all coins. However, the majority of the coins have been distributed with the exception of a few who have not yet filled out the second form providing their USE address. Maidak will handle the remainder of the IPO distribution. Overall our launch was a smooth and successful one.
Over the course of the next week or so we will be releasing more teasers and previews of our UseMarket decentralized marketplace. Leading up to the beta test sign ups starting on the 26th this month. Beta testers who sign up to test drive the marketplace before public launch (Sept 9th) will gain full access to the UseMarket. We will even have a few shops set up by the devs with real items you can buy with your Usecoin
We are excited for this and the days leading up to the public beta test we will be releasing more screenshots and perhaps even a few video teasers. Around the time of the beta test phase, we will launch a series of "Video Tutorials" for UseMarket, simple and easy to follow video guides on how to set up a store, sell/buy items, use a notary/arbitrary, etc.
We are looking forward to a launch for our UseMarket just as smooth as our initial coin launch. More to come soon! Remember to follow us on twitter @UseCoin if you haven't already. We try to be as active as possible in social media.
Bonus: Looks like we're on Bittrex now!
https://www.bittrex.com/Market/?MarketName=BTC-USEUpdate August 20, 2014: We have decided to reduce the IPO Phase 2 to a mere 24 hours. We feel that the second phase is pointless and somewhat obsolete since we have already been added to c-cex exchange. We will keep the Phase 2 IPO up for 24 hours starting 2:30 AM EST. After that, we will no longer be accepting investments and the remaining coins will be scheduled for destruction. We feel this is in the best interest of our early investors as well as the overall integrity of UseCoin. If you still wish to invest in our IPO please see the instructions near the bottom of this post.
Update August 19, 2014: We have officially LAUNCHED! Proof of Work has started and will last for approximately 30 days!Our launch seems to be quite successful. Pools are now running and people are mining. Proof of Work lasts for about 30 days. Our source and wallets are available for download. Source has been uploaded to Github as well.
- Official Website: http://www.usecoin.info
- Maidak will be distributing coins to all Phase 1 IPO investors starting today
- Free Distribution coins will be distributed starting today. We will PM each participant for their USE wallet address and then send coins accordingly
- Over 240 applicants for free distribution, please allow us the next 2-3 days to contact and distribute the coins accordingly
- Phase 1 IPO has ended. Phase 2 is officially begun. Escrow is no longer used for Phase 2. Please send any investments directly to our IPO address:
1NJyp9HbRE5LJiZ94FgcDoLKUTdMuTzn88
Update August 13, 2014: We have decided to revise our PoW distribution model to further benefit early investors and maintain better price stability.Increasing the PoW period will help prevent large mining farms from being able to dump large amounts of coins in a short period of time. Below are a few bullet points outlining the changes we've made:- PoW Coins Reduced to 4,540,000 (Down from 5,040,000), the 500,000 coins will be given out in free distribution
- PoW Period has been extended to approximately 4 weeks (up from 1 week)
- Proof of Work phase will officially begin on August 19th @ 6PM EST (unchanged)
- IPO/Presale coin amount remains unchanged
- PoS interest and staking periods remain unchanged
UseCoin - A Cryptocurrency that you can USE!http://www.UseCoin.info(Official Launch Date: August 19th @ 6PM EST) LAUNCHED!!!Timezone Converter: http://www.worldtimebuddy.com/?qm=1&lid=6167865&h=6167865&date=2014-8-19&sln=18-19
A secure crypto that you can use to purchase goods and services anonymously! (UseMarket Coming Soon!)
Pre-Sale/IPCO HAS OFFICIALLY ENDED!PHASE 2 IPCO Public BTC Address: 1NJyp9HbRE5LJiZ94FgcDoLKUTdMuTzn88
Phase1 Escrowed IPO Address: 12nX3MZwLnchGRgjQtW95Kq4m42baVxtrx (DO NOT SEND ANY BTC TO THIS ADDRESS DURING PHASE 2)
Pre-sale Starts: August 12th, 2014 @ 6PM EST
Pre-sale Ends: August 21st @ 2:30 AM EST
CURRENT SHARE PRICE (1,000 USE): 0.02 BTC per share
TOTAL SHARES AVAILABLE FOR PRE-SALE: 4900 Shares (4,900,000 USE)
MINIMUM Investment: 0.02 BTC per Individual
MAXIMUM Investment: 6 BTC per Individual
IPCO/Pre-sale MAX. LIMIT: 98 BTC
Unsold coins at end of pre-sale period will be DESTROYED
Early investors awarded with cheaper price! IPCO price will be DOUBLED after first week! (Aug 19th)
PHASE 2 IPO has begun! Escrow will no longer be needed. Please PM tx ID for your investments and wallet address and we will send you your coins directly!
( INVESTING INSTRUCTIONS ARE BELOW, SCROLL DOWN! )
UseCoin is a cryptocurrency that encourages and empowers users to be able to use and spend their coins. We will be releasing our own "UseMarket" which is a decentralized marketplace platform based on OpenBazaar. The UseMarket has been underdevelopment for the past few weeks since July 28th and we anticipate it's public launch by September 9th next month.
UseCoin will have a IPCO/Pre-sale distribution as well as a PoW Distribution divided 50/50. PoW will begin once the coin has been officially launched on August 19th at 12 PM EST. A small portion of the premine will be set aside for community bounties.
To create a cryptocurrency that encourages usage and spending, not just holding and trading. The current altcoin market has been flooded with pump and dump coins that don't last for longer than a couple months, due to scams, market manipulation, huge mining farms dumping coins, etc. UseCoin aims to fight against that by defining ourselves as a coin that can be USED for real world goods and services.
We will accomplish this with our in-house developed "UseMarket" based on the OpenBazaar code, a 100% decentralized and anonymous marketplace platform where anyone can buy/sell goods and services using UseCoin. Along with this, we will be partnering with as many merchants and services providers as we can to increase UseCoin adoption worldwide.
SIGN UP FOR USEMARKET BETA TESTING HERE: http://bit.ly/1tmCCeVBeta testing commences on August 28th @ 6PM EST and will last for 1 week!
UseMarket due for public launch by September 9th, 2014To learn more about our goals and future projects, please check out our latest development roadmap.
Website: http://www.usecoin.infoTwitter: http://www.twitter.com/UseCoinFacebook Page: Coming Soon
Below is a rough outline of what we are currently developing and what we have planned for future releases.
UseMarket (Decentralized Marketplace) - In Development: Launch Date Set on September 9th, 2014The UseMarket is a decentralized marketplace based on the OpenBazaar code. We have used OpenBazaar's code as a baseline to develop a truly decentralized and anonymous marketplace that cannot be censored or blocked. UseCoin will be fully and exclusively integrated in the marketplace allowing users to buy and sell real world goods and services using Usecoins! This is easily one of our most prominent features as it will allow users to USE their coins! This will add tremendous value to our coin. A fully encrypted messaging system will be integrated into the UseMarket. We will keeping everyone updated with our progress with UseMarket. Launch day is not far away as this has been under development since July this year and are nearing completion for public launch.
Stealth Addresses - In Development: ETA End of SeptemberTo further increase anonymity we will be implementing stealth addresses based on Vertcoin's code. Stealth addresses will be an optional feature for those who wish to use it to retain high anonymity.
Encrypted E-mail Service IN Wallet: (Planned, no ETA)We have planned to release an encrypted e-mail messaging system that will be integrated into the UseCoin wallet. We have not yet started development on this but it is something that we believe we can integrate into the UseCoin code and provide an additional service straight from your wallet client. So far we only have plans on developing this feature for our Windows wallet.
Community Driven Development:A large portion of the IPCO funds will be used towards community driven developments. We will ask YOU, the community, to request features you'd like to see on UseCoin. We believe very strongly that a successful crypto's foundation is a strong community. We will be empowering our community to help build UseCoin to something that is truly revolutionary that can be used in the real-world. Community feature voting will commence shortly after the coin's official launch on August 19th, the same day PoW phase begins.
Wallets available now for download.
https://github.com/UseCoin/UseCoin
Max. Total Coins: 12,540,000 9,000,000 USE
(5,000,000 IPCO/Bounty Coins + 4,540,000 PoW Coins + 500,000 Free Distribution Coins + 2,500,000 PoS Coins after 5 years)Algorithm: X13 PoW + PoS
A total of 3.5mil USE was destroyed from left over IPO coins and free distributionTotal PoW Blocks: 43,829
PoW Block Rewards:Block 1 - 5,500,000 USE (IPO Coins and Free Distribution Coins)
*Any unsold/undistributed coins will be destroyed*Blocks 2 to 129 - 0.02 USE (to prevent instamine)
Blocks 130 to 43829 - 100 USE
PoW Period: ~30 days
Block Time: 60 Seconds
POS Interest: 5% Annually for 5 Years
Coins Available for IPCO: 4,900,000 USE (4.9 Million)*
Coins Available for Bounty: 100,000 USE
*Left over unsold coins from IPCO will be destroyed permanently once 2 week pre-sale period is over.
UseCoin.conf
Proof of Work phase will start on August 19th once the coin has officially launched. We are looking for pool operators to set up pools prior to launch so everyone can start mining as soon as UseCoin is officially released. If you wish to set up a pool prior to release, please contact us via PM.
http://use.minerpools.com - SSO Enabled, PPLNS 1% fees
http://use.explorer.ssdpool.com:9081/
Q: What is an IPCO or Presale?A: An ICPO (Initial Public Coin Offering), or a presale, is the phase where we allow early investors to purchase "shares" of UseCoins at a fixed rate.
Q: How many UseCoins are in each share?A: Each (1) share purchase is equivalent to 1,000 UseCoins (0.01 BTC).
Q: Why a IPCO/Presale and what benefits does it offer to the coin and investors?A: Distributing the coins to a group of investors who paid an X amount of value (BTC in this case which is the most stable crypto currency at the moment), will help establish a base value to the market which is more stable compared to a market dominated by some huge mining farms who can mine tons of coins for a very little energy consumption. Giving the fact that we are trying to develop an innovative business based on this crypto coin, we cannot risk to have a market where one individual have the power to manipulate it on a large scale. This is why we also have a maximum limit set on how much one person can invest in the presale.
Q: How many coins will be sold in the IPCO?A: 50% of the total PoW Supply will be sold in the presale/IPCO. The total amount of coins will be exactly 5,000,000.
Q: Will there be a reward for early investors?A: Yes, early investors will be able to purchase coins at a fixed price of 0.00001000 BTC (1000 Satoshis) per share during the first week of IPO. After that, the price will be raised 0.00002000 BTC (2000 Satoshis) for the remaining IPCO period, the second week. This will both help encourage and reward the investors who took the risk of investing first.
Q: What happens if all the coins are not sold?A: Any remaining coins that are not sold in the IPCO will be destroyed, thus reducing the total amount of coin supply. This will also increase the value of all UseCoins for all investors and holders.
Q: When will I receive my UseCoins from IPCO/Presale?A: Early investors will receive their coins on the official release date which is one week (7 days) after the presale has started. The wallet and source code will be released on this same day. All investors will receive their coins on time on launch date.
Q: What is the minimum and maximum investment amount?A: The minimum is 0.01 BTC per individual. The maximum investment is 3 BTC. Large groups of investors are also welcome.
Q: What will the invested BTC be used for?A: The invested BTC will be held in a public address. We plan on using 50% of invested BTC to help provide stabilization to the UseCoin market by setting up stragetically placed buy orders once we hit the exchanges. The other half will be used for community voted development, where we take ideas voted by the community and implement them to the coin. The invested BTC will NOT be used to pay ourselves (the devs). We already have a set plan of features (see the latest development roadmap) which we will be investing our own funds and time into implementing.
Q: Why no escrow for IPCO/Pre-sale?A: We feel that an escrow for a coin IPCO/pre-sale would only further complicate things when it comes to the coin distribution launch day. We would much rather handle each and every investor's funds ourselves, which allows us to better streamline the distribution when time comes. We plan on distributing all IPCO coins right at launch and without using a third party escrow, we plan on doing this without any delay. All investors can expect to receive their UseCoins within 12 hours or less on launch day. The BTC from investors will be held in a wallet viewable by the public at all times.Maidak will be escrowing the IPO/Pre-sale for UseCoin, see instructions below!Q: Can I get a refund on my BTC investment?A: The only reason why we would provide a refund on your investment is if we fail to sucessfully launch our coin by August 19th at 6PM EST. Depending on the circumstances and the cause of failed launch, we will refund all invested BTC back to investors 100%. We do not foresee any delays or failed launches for UseCoin as we have already extensively tested the base code and wallets on testnet over the past couple weeks.
PHASE 2 IPO BTC ADDRESS: 1NJyp9HbRE5LJiZ94FgcDoLKUTdMuTzn88
IPCO Start Date: August 12th, 2014 @ 6PM EST
IPCO End Date: August 21st @ 2:30 AM EST (any BTC sent to us after this time will be refunded)
IPCO Total Limit: 98 BTC (absolute max)
CURRENT SHARE PRICE (1,000 USE): 0.02 BTC per share
TOTAL SHARES AVAILABLE FOR PRE-SALE: 4900
MIN Investment Limit: 0.02 BTC (1 share)
MAX Investment Limit: 6 BTC (300 shares)
(per individual)
Instructions:
1) Send BTC to the following IPO address: 1NJyp9HbRE5LJiZ94FgcDoLKUTdMuTzn88
2) Fill out the following form: https://docs.google.com/spreadsheet/viewform?formkey=dHVOeHlMU3prMnV2d2VKOWh5VEdLcHc6MA
3) We will send you your coins within 24 hours or less to your specified USE addressUnsold coins at end of pre-sale period will be DESTROYED
All investors will have their Bitcointalk username listed below unless they request to be anonymous.Early Investors (Phase 1 - Ends August 19th 6PM EST)anonymous - 2 BTC (200 shares)
Jonni21 - 0.05 BTC (5 shares)
anonymous - 0.10 BTC (10 shares)
dandruff1138 - 0.01 BTC (1 share)
anonymous - 0.02 BTC (2 shares)
-Greed- - 0.3 BTC (30 shares)
RhodaGila - 0.10 BTC (10 shares)
anonymous - 0.25 BTC (25 shares)
anonymous - 0.10 BTC (10 shares)
pregoRI - 0.01 BTC (1 share)
anonymous - 0.70 BTC (70 shares)
saeeds255 - 0.01 BTC (1 share)
adjiadjo - 0.06 BTC (6 shares)
eastwind_ja - 0.05 BTC (5 shares)
highscore - 0.10 BTC (10 shares)
qiuzhixin15 - 0.06 BTC (6 shares)
FredDag - 0.10 BTC (10 shares)
hero18688 - 0.02 BTC (2 shares)
IPO HAS ENDED, ALL INVESTORS HAVE THEIR COINS DISTRIBUTED BY ESCROW.
If you are an investor who wishes to be publicized on this list, please send a PM.
100,000 UseCoins have been set aside for community bounties!New and Better Logo - 15,000 USE
CLAIMED to unlock.mkSource Code Inspection #1 - 10,000 USE
Source Code Inspection #2 - 10,000 USE
Source Code Inspection #3 - 10,000 USE
Secondary Block Explorer - 15,000 USE
Reserved to ScorpianzTertiary Block Explorer - 10,000 USE
Chinese Translation - 500 USE
Russian Translation - 500 USE -
Reserved to *Sakura*German Translation - 500 USE -
Reserved to bitkornmeisterFrench Translation - 500 USE -
Reserved to torpedoSpanish Translation - 500 USE
Hindi Translation - 500 USE
Portuguese Translation - 500 USE
Tweet about UseCoin (100 Available) - 50 USE
(
This bounty can only be claimed once per user, you must link to this thread somewhere in your tweet!)
*IMPORTANT NOTE* Please do not post tweet here in thread, to claim twitter bounty please PM me your tweet!(Note: Not all bounties have been listed yet)
