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Author Topic: «oinProLite («PL): Converting Shitcoins' SÁhit ---> ฿/$/etc. via Proof-of-Burn  (Read 16063 times)
CoinProLite
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August 30, 2014, 09:37:42 PM
Last edit: October 08, 2014, 12:27:22 AM by CoinProLite
#1

«oinProLite

Remonetizing days-are-numbered SÁhitCoins that are all but readily flu$hed to ingress the Ęesspool.

SÁhit ---> «PL ---> YTC ---> YTC c-c



Firstly, this IS NOT a spoof ShitCoin (scatologically speaking, of course  Roll Eyes), nor an attempt to add yet another ShitCoin to the leagues of shitcoins... run amok by scaramouches of questionable ascendancy, disrupting the delicate balance in all of cryptocurrencyland (non-bold text borrowed from Melville).

Secondly, see firstly. ^^^

Turdly, ... vvv

Duly note, if a 93-year-old-company's ongoing PR campaign proudly refers to its hamburgers as Sliders, coupled with their promotional literature resounding the commonly held belief that "the full impact of eating White Castle hamburgers normally isn't felt until the day after," then a primarily PoBurn-based cryptocurrency - «oinProLite («PL) - should have no problem espousing florid verbiage - SÁhit, et al. - in its didactic copy. Recollect, thanks to the advent of Jiaozi, we're now all sailing Montezuma's revenge together, individually navigating the Sea of Fiat via poles-apart Jack Sparrow moral compasses (regurgitated for shitheads who love having their analogous sentiments echoed  Cool).

That spewed, what the fuck's all this SÁhit about? <I love the smell of freshly minted SÁhit in the morning... Someday this crypto mining's gonna end...>

Noteworthy!: «oinProLite DID indeed start off as a spoof ShitCoin first introduced here: https://bitcointalk.org/index.php?topic=718358.0 (now locked). Granted, this OP depicts characteristics of spoofness but, rest assured, that's not what's afoot! Silliness, on the other paw (less favored for wiping), well...

Quote
As I delft further into researching data for an ambitious project I'm currently constipated rapt with, the more I realized I could embody «oinProLite into the chamber trail mix, moreover, jiggle the handle as a first flush tier, so to speak, for Project Y (Y = symbolic). Upon getting spanked by a proverbial shitload of bricks with my epiphany, I immediately registered coinprolite.com, the domain name I proffered prior - for two days - by nudging anyone to procure it, albeit allinvain - praise Jah!

~ Founder of «oinProLite

See FAQ below to appreÁiate how the branding of «oinProLite was Áogitated.

Scrubbing Bubbles to the Rescue: <Quick aside: I remember a late poker dealer who dealt at Excalibur in Las Vegas named Bubbles - RIP.>


Quote
Proof of burn may also be of interest as a tool for managing an orderly transition from one cryptocurrency ("oldcoin", let's call it) to another ("newcoin"). If the developers of newcoin are looking for a way of avoiding proof-of-work's real resource consumption even in newcoin's initial distribution phase, they can't use proof of newcoin-burn: newcoins don't exist yet. But they can use proof of oldcoin-burn! (Assuming their reason for creating newcoin is not a doubting of oldcoin's security model, anyway. - Or at least, not a doubting severe enough to affect sufficiently deeply buried oldcoins, these being the candidates for burning.)

To put the above content in context as it pertains to «oinProLite:

  • «oinProLite will utilize a PoBurn protocol to manage the orderly transitions of the myriad SÁhitCoin SÁhit (once made available/meets a minimal criteria/transfer mechanisms are in place/etc.) to «PL (ticker symbol) via an Łber-fair Analytical Hierarchy Process (AHP).
  • «oinProLite will meld variants of PoBurn [Proof-of-Burn] with PoC'sus [-Consensus] and PoS [-Stake] protocols in lieu of PoW [-Work], et al., constituting a hat-trick (tribrid, as it's referred to in the cryptocurrency space) for block generation, securement of the network, and distribution.
  • Security of those far-flung-pinin'-for-the-fjords (think dead parrot) shitcoins won't be an issue as long as their blockchains were functional at time of burn, thus allowing proof-of-burns to be recorded on «oinProLite's blockchain depicting the documented txouts associated with its key-pairs. Once a SÁhitCoin's blockchain ceases to function or exist, its SÁhit CAN'T be convertible to «PL, further cementing the Uuniversal Rundle notion that a cryptocurrency's value is in its blockchains, including those of shitcoins.
  • Queue position while awaiting placement for subsequent blocks for conversion from SÁhit to «PL is determined by the ages of a SÁhitCoin (release date) and its SÁhit (timestamp of tx), with the former taking precedence over the latter (e.g., two distinct shitcoins vying for position), during the AHP due to it having more weight in the set parameters of the algorithm, among other determinants.

Specs; Innards & Guts: <To gift hard-ons to geeks who can't get enough...>

«oinProLite is a tailor-made peer-to-peer tribrid cryptocurrency, integrating PoB/PoBurn [Proof-of-Burn], PoC/PoC'sus [-Consensus] and PoS [-Stake] components. No mining is involved, but owners of «PL wallet addresses will maintain limited client nodes of the blockchain until their balance on account reaches zero, thus vouchsafing the security of the network during the interim of possessing and transacting «PL.

  • Ticker Symbol: «PL (CPL if such spelling is disallowed on cryptocurrency exchanges)
  • «PL Sign: Á (Superscript Small Case «), e.g., 42Á, 314Á, 1337Á, etc.
  • Maximum «PL: 2,825,625,600 (256[«PL] x 60[m] x 24[h] x 365[d] x 21[y])
  • Block Forging Schedule: 1 every exactly 60 Seconds
  • «PL per Block: 256
  • Minimum Exchange Rate per «PL to Purchase YTC (discussed below): $.01 (1 US Ęent), exchange at multiples of such, thus always resulting in a whole number expressed in Ęents or dollars & Ęents, i.e., $3.14.
  • # Decimal Places: ō - All «PL are rounded up (never down) to the nearest whole number - when any resulting calculations warrant such - since we're only talking about a fraction of a US penny/Ęent. (i.e., 3.14Á = 4Á)
  • Halving Schedule: N/A
  • Difficulty Adjustment Schedule: N/A
  • Mining Port: N/A
  • PoBurn Premium: 36% awarded immediately
  • % take for R&D, Bounties, etc., per Generated Block: 21.875%, or 56 «PL
  • Stake Payout: .5% per month after 90 days, calculated daily (Midnight(?) GMT) thereafter, sans penalties for early withdraw, et al.
  • Stake Reserves: 3% (placed in a singular dedicated «PL wallet address)
  • # Pre-mine, Instamine, etc., Coinage: ō
  • White Paper: N/A at this penning, but foresee paying a bounty to have one drafted
  • Confirmation Time: Instant from «PL to YTC (virtually instant for all other transactions)
  • tx Fees: ō


<The following image may, or many not, act ONLY as a placeholder till...>


<...more shit's added.>

Exiting the Privy: <Assman or: Learn How to Free up Memory on your Hard Drive and Love Dumping those Rotting SÁhit Wallets>

<shit forthcoming>

No apologies offered up for parading whimsical prowess herewithin, for that's how some folks roll.



FAQ: (in support of Transparency Inc., apropos content, albeit often contrived)

Q: Why the [cť cťdille/c-cedilla (en)] «?
A: Every BitcoinTalk user must strictly follow all 285 Rules of Acquisition laid out by the first Grand Theymos, theymos. RoA 85 clearly states that all new cryptocurrencies launched on the BT forum must incorporate something French. It precedes RoA 86: Mining Pool advertising is not allowed on BT's cryptocurrency forum - unle$$ paid for! Withal, think of it as the tail we humans lost from our backside through evolution, lest you're a tapeworm aficionado, once in a super- or Proxigean Moon musing such a secular notion.

Q: What's the baÁkstory on the branding of this Áraptraption - «oinProLite?
A: http://news.nationalgeographic.com/news/2014/07/140729-dinosaur-coprolite-paleontology-dung-fossil-auction/

Quote
This past Saturday, a private collector paid $10,370 at auction for what was touted as a six-million-year-old turd. Billed in the auction house catalog as fossil feces measuring "an eye-watering 40 inches in length" and believed to be "possibly the longest example of coprolite ever to be offered at auction"óthe squiggle certainly looked the part.



National Geographic kindly showcased the first ever PoopChain (above).

Original Source: ENORMOUS AND RARE COPROLITE



After being sympathetic for the dude who doled out ten-plus large for probably a bogus turd  Cry, we envisioned how the ethos of a PoBurn protocol could remonetize in-limbo shitcoins. Savvy of how shitcoins are the "in" thing, we simply inserted "in" in coprolite and voilŗ! - more French.

Illustrated arithmetically: Coprolite + « (Áhiefly, for SÁhits & ) + in = «oinProLite.

Q: Can you stool school us a wee bit about this PoBurn thingy, for it feels like hemorrhoids?
A: Proof of burn ---> Coin-burning as a tool for transition between cryptocurrencies (the highlighted content is further expanded upon above this FAQ section)

Quote
Coin-burning as a tool for transition between cryptocurrencies

Proof of burn may also be of interest as a tool for managing an orderly transition from one cryptocurrency ("oldcoin", let's call it) to another ("newcoin"). If the developers of newcoin are looking for a way of avoiding proof-of-work's real resource consumption even in newcoin's initial distribution phase, they can't use proof of newcoin-burn: newcoins don't exist yet. But they can use proof of oldcoin-burn! (Assuming their reason for creating newcoin is not a doubting of oldcoin's security model, anyway. - Or at least, not a doubting severe enough to affect sufficiently deeply buried oldcoins, these being the candidates for burning.)

The newcoin blockchain would thus start with (at least a hash referring to) a complete catalogue of all the [sufficiently deeply buried] unspent txouts of oldcoin. Miners would then exhibit burning events within oldcoin up to a certain date; after which, the protocol would switch to burning of newcoin itself (and the dependency on oldcoin could even be thrown away entirely, if a checkpoint of that transition moment was promulgated and accepted by the newcoin community).

This has the nice consequence that, if people throughout the broader economy are gradually deserting oldcoin (as newcoin catches on), its value need not collapse! Instead, oldcoin gets burnt in the transition process, neatly reducing its nominal supply in just such a way as to roughly keep pace with its declining real demand. Meanwhile, those same acts of burning are minting fresh newcoins, at just the pace required to keep up with newcoin's growing real demand. (At least, that's the case if miners anticipate the transition speed correctly, and enter / exit the coins' respective mining trades at a pace that competes away supra-normal profits. We also have to assume that the total real demand for both[/all...] cryptocurrencies is roughly stable in "economy-tracking" terms; or at least, that miners anticipate the time path of the size of total real demand, and of its currency-by-currency composition, correctly, or near enough correctly.)

To sum up: proof of burn could, just maybe, qualify as a new tool to greatly assist overall (multi-cryptocurrency) economic robustness and stability! <This clause cited at the bottom of the OP.>

Q: I'm not a big fan of white papers, hence asking, is there a PoC'sus cryptocurrency that incorporates said hashing algorithm, whereupon I can scrutinize its readily available treatment?
A: Credits [CDT], of which its developer penned a PoC'sus White Paper especially for the likes of you.  Tongue

Q: Not that I give a flying-poop about such poppycock (echoing others  Wink), but is «oinProLite green?
A: We see you probably wrote the questions Larry King once asked. Regardless if «oinProLite embraces Think Green, et al., or not, the palate choice fits the implied objective and is conducive to promotion and marketing strategy, and there's no intense mining involved, hoping like fuck that satisfies your pie hole.

Q: Has something like «oinProLite been introduced before?
A: Dude, we're visionaries, not curators! Surely, if such a critter (rhymes with shitter) exists in the wild, we would have stumbled upon it. Yet, if there's a similar crypto lurking about, we'll explore the option of embracing it like flies on shit. And, if it's on life support and fits «oinProLite's basal canon, we'll welcome its SÁhit on our ceramic platform.

Q: Playin' Devil's advocate, how do we truly know you're not just trying to scoop up some of our SÁhit?
A: Note, the founder of «oinProLite is a Lugan, and his forefathers gave and took plenty-o'-shit from Poles (or was it versa vicť?  Undecided). ∆ther way, there's always room for more shit (bastardizing the hackneyed adage). Seriously, that's exactly what we intend to do: Scoop up your SÁhit! Post hoc, serve it back to you on a porcelain platter after its metamorphosed to «PL, subsequently formally trading on formidable cryptocurrency exchanges, thus dictating its worth on a continuous basis.

Q: I don't know! Something about «oinProLite just doesn't smell quite kosher. Can you put us a turd tad more at ease prior to us SÁhmuÁks burning our precious SÁhit?
A: Yes! We're not incorporated in Romania. The domain name isn't registered in Panama. Our office address isn't some rent-by-the-hour facility in Bulgaria. We don't use a PO Box in Hong Kong. We don't operate from some Internet Cafe in Nigeria. This isn't some pre-order shit. Nobody on staff has the initials J.Z. or named Josh. We've vetted the shit outta ourselves. The protocol's open source (will be). There's free beer to get shit-faced on the fifth Thursday of every other month ending in a Y (Because we like you! M-O-U-S-E.). And, we sing, albeit off and only in the key of H, having also been known to oftentimes whistle movie soundtracks.

Q: Utility?
A: Previously addressed with conventional mining's not involved, thus expending nominal electricity costs to secure the network.

Oopsie! Our bad! You meant the relative utility of «oinProLite.

  • Traditional trading, akin to how a passel of cryptocurrencies in the wild circulate.
  • The primary means to acquire Project Y's (not yet disclosed) YTC.
  • SÁhit ---> «PL ---> YTC ---> c-c (crypto-commodity)
  • SÁhit ---> «PL ---> ? (visualized as a Micro-IPO/ICO (Initial Crypto Offering) for future ventures seeking initial start-up $$$)
  • As outlined above (pruning the last bullet point), «oinProLite will eventually satisfy a finite ecosystem that fortunately enjoys a sustainable and prodigious viable community base, with most its members seeking to augment their current scanty revenue stream if they've opted in for the obtainable rewards program, namely YouTube creators (channel publishers, semi-revealing Project Y).

Q: Liquidity?
A: Like diarrhea! As touched upon above, «oinProLite's core utility will act as the primary means to acquire YTC, of which is not only non-colorful-metaphor-based, but will be highly sought by kowtowers (mainly virgin cryptocoiners  Kiss) of YouTube creators.

The flowery part of «oinProLite's liquidity scheme is that those who'll burned their plethora of SÁhit to acquire «PL will have priority over those exercising other options made available to trade for/purchase YTC. News Flash: Early Adopters Win Again!

In essence, «oinProLite will turn those Pump-n-Dump pieces o' shit into a quasi-proverbial goldmine via Dump-to-Trump (D2T), predicated on subsequent trades being well-timed. At the very least, what once was SÁhit will regain some monetary value, becoming easier to exit one's cryptocurrency position to fiat, perhaps the more desirable option for some.

Once Beta, further burgeoning cryptos will have the ability to follow suit, ergo more SÁhit to can via PoBurn-based start-ups, with «oinProLite leading the way. We opted to take as much of the viable pire du pire SÁhit off the market as possible, leaving the crŤme de la crŤme (lower hanging SÁhit) for future concerns.

Q: To further expand the liquidity question, are you saying...
A: Yes! Virtually all holders of «PL will be able to liquidate their positions through our closed system with minimal risk - regardless of what «PL and YTC trade at on the exchanges - for the c-c aspect MUST perform with the utmost openness and integrity due to protecting the credibility of those representing each and every c-c.

Q: Participation?
A: We realize that's a colossal compost heap «oinProLite will have to hurdle: Convincing enough SÁhmuÁks to trade-up their stagnant decomposing pieces o' shit to something of value. Nonetheless, we'll do our damndest to garner enough support from less fortunate SÁhmuÁks willing to convert their compiled pHC- SÁhit to «PL, assuring a quickening to seeing the overall endeavor ripen, hence pullin' out all stops to fill the manure wagon, readying for rebroadcasting over a freshly plowed new field o' dreams.

Q: I'm almost sold on this ideal of «oinProLite, but how much is it going to cost me during the conversion process of my SÁhit to «PL?
A: Only -36%, as in negative -36%, as in you'll immediately receive 36% more «PL than what the future current exchange rate your SÁhit is trading at when you forward your SÁhit to enter the queue position to subsequently have the documented tx officially indexed on «oinProLite's blockchain. Once entering the official queue, a maximum of 72 hours will be the longest time any person will have to wait before a block is created depicting their burned SÁhit, anon credited to their pre-created wallet address with the appropriate «PL, via our AHP.

Q: Gulp! Not to shabby, but what about the PoS [-Stake] rewarding part?
A: We were going to make it 1%, but seeing that a mess of greedy clowns are probably lining up to take advantage of us from the get-go (obviously contrived), we've lower it to only .5% - a month (NOT YEAR!). This aspect will kick in after only 90 days of leaving «PL put, with no need to wait the full 30 days (1 month), thereafter, to receive a prorated portion of the maximum .5%/mo PoS payout: e.g., on the tenth day, you'll receive .165% of your wallet address' sum when you conduct your first transfer, or .665% on the 40th day, both examples automatically doled out after the first 90 day grace period upon transferring «PL.

To be clear, Proof-of-Stake is 6% a year, halved every year thereafter, thus roll accordingly. This, and the previous Q/A will be addressed in fuller detail prior to accepting any SÁhit.


Slow down there, mate! «oinProLite is only in pre-Alpha stage, although admittedly we love your enthusiasm, but suggesting you curb it nonetheless.

Q: What else can I purchase with «PL if I hand over my precious near-worthless SÁhit to «oinProLite?
A: Pizza (soon); Did I mention pizza?; And, hopefully, pizza; ; Be part of history by donating «PL to the Yugo GV Frame-off Restoration Fund LLC.

Q: Does this mean that developers of shitcoins will have an unfair advantage to monetize their premined SÁhit that they may still possess?
A: Au contraire, astute giimoozaabi! Conducting due diligence, along with some secret asshole-burning masala-laden sauce, will validate only non-premined/instamined SÁhit, sans any that may have been washed downstream on SÁhitCoin blockchains, with same holding true for tainted coinage, et al. If, by happenstance, some wiseass succeeds in converting preXed SÁhit to «PL, their transaction WILL NOT be rolled back, but the culprit will be administered 314 lashes with a wet noodle when they raise their shit head in public. Harsh, yes, but necessary to keep them fecal-greaseballs at bay.

Q: Will «oinProLite's White Paper be referred to as Toilet Paper?
A: ďPlease don't patronize us, you son of a bitch!Ē

Q: I've just read the entire OP. Is there a Tl;dr version of this diatribe?
A: Funny you should ask: Tl;dr version of «oinProLite's plan to monetize comatose shitcoins.  Grin

Q: One final question: Is «oinProLite marketable?
A: Since you've read thus far, add yourself to the list of those who've aforementioned, "Yes, it's remarkable!" Recall DogeCoin, based on a meme? Kabosu Coin may not be that far behind.  Wink

<more FAQ may be added to this OP in the future>

Nowhere else on the internet is one able to alchemize SÁhit into securable gold, sans some novelty website probably hawkin' pseudo sacks of shit.


«oinProLite Takes Your SÁhit - Literally!





Quote
To sum up: proof of burn could, just maybe, qualify as a new tool to greatly assist overall (multi-cryptocurrency) economic robustness and stability!

With the generous input from this loving community, «oinProLite, along with its band of merry slaveturds, hopes to be the first to manifest the above, nurturing and bringing this peachy shit to fruition.

In Closing: «oinProLite has no intentions on going to the moon, so quit asking.




Disclaimer: All details outlined above are open for discussion and subject to change until «oinProLite is in big bada boom Beta.



~BrŁno Kučinskas - Founder, and currently the only person that «oinProLite comprises of, in spite of plural pronouns penned in this OP.

Q: Why did you alter the spelling of your name?
A: Adhering to conventional habitude is sometimes unsatisfying, as how «oinProLite is introduced so demonstrates.

EDIT: Apologies for not including the following earlier:

«oinProLite Takes Your SÁhit - Literally!
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August 30, 2014, 09:41:26 PM
#2

Can't tell if serious or not. But props for making one hell of an an.. eye-catching thread.

So this coin doesn't yet exist, I take it?

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August 30, 2014, 09:45:27 PM
Last edit: September 11, 2014, 02:36:46 AM by CoinProLite
#3

Can't tell if serious or not. But props for making one hell of an an.. eye-catching thread.

So this coin doesn't yet exist, I take it?

This is serious, thanks for the complement, and yes the coin DOESN'T exist yet.

The entire OP (as it looks now [at August 30, 2014, 04:41:26 PM]) was first penned at https://bitcointalk.org/index.php?topic=721242 (topic was deleted by a mod shortly after this thread was introduced, of which is welcome with this section being a better fit), it having only a small handful of posts accompanying it, most being mine.

At this stage, I'm interested in learning how viable the concept is for those wanting to better their shitcoins' positions. I'm going to penned a thread just for this purpose alone.

~Bruno Kučinskas

«oinProLite Takes Your SÁhit - Literally!

«oinProLite Takes Your SÁhit - Literally!
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August 30, 2014, 09:48:45 PM
#4

When will this coin start existing?
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August 30, 2014, 09:52:01 PM
Last edit: September 11, 2014, 02:37:18 AM by CoinProLite
#5

When will this coin start existing?

Honestly, there's no exact timeline as of yet, but hoping by Christmas, 2014, with all that the entire project encompasses by spring of next year. <Edit: Project Y by June, 2014, for reasons explained in a subsequent post on the next page of this thread>

There's already an extensive site built detailing Project Y, albeit it's a work in progress, but does sum up what's fully proposed rather naughtily nicely.

~Bruno Kučinskas

«oinProLite Takes Your SÁhit - Literally!

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August 30, 2014, 09:54:27 PM
#6

I don't know what to say so here is a picture of a crap on a rainbow:

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August 30, 2014, 10:00:53 PM
Last edit: September 18, 2014, 06:36:55 AM by CoinProLite
#7

I don't know what to say so here is a picture of a crap on a rainbow:



Luckily, I'm not humor-intolerant.  Grin

~Bruno Kučinskas

«oinProLite Takes Your SÁhit - Literally!

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August 31, 2014, 12:31:53 AM
Last edit: September 11, 2014, 02:37:59 AM by CoinProLite
#8

During perusal of the OP, feel free to point out any grammatical errors or erratum that require amending or attention.

Bounty for opinionating legitimate les faux pas shall be 1 CPL per, payable in blocks of 10 CPL whether what's cited is amended or not.

Also, please suggest which SÁhitCoin you'll like «oinProLite to consider for PoBurn, stating how much of its SÁhit, along with its current value expressed in BTC and $, you're willing to unload said precious. Such data will be used as a bellwether to help measure what support «oinProLite's SÁhit ---> CPL proposal enjoy, and see what aspects of this startup needs modifying prior to further development and Beta launch.

A poll is currently in place to let us know how much SÁhit you're welling to part with and convert to CPL: https://bitcointalk.org/index.php?topic=763429

The following Laurel Wreath image (to be shopped somewhat - more leaves first comes to mind) would make a fine logo for «oinProLite to utilize on our various web presences: Keep the [off-]white background; Alter the depicted Laurel Wreath a tad with a stronger shade of green (perhaps); A stylized « in the center in a lighter shade of green. Simple and cling-ons-free clean!


~Bruno Kučinskas

«oinProLite Takes Your SÁhit - Literally!

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August 31, 2014, 01:15:08 AM
Last edit: September 11, 2014, 11:09:39 PM by CoinProLite
#9

Case Study (Example)

Using CoffeeCoin (CFC2): http://coinmarketcap.com/currencies/coffeecoin/ (with apologies if CoffeeCoin is not [currently] a shitcoin in the true sense of the term)


Note the current available supply and market cap: 100,757,687 CFC2; $2,031 USD (respectively).

To accommodate as many altcoin miners of the myriad coins as possible, «oinProLite will limit the percentage of each SchitCoin's supply that'll be allowed to convert its Schit to CPL at 1% (at first, the percentage increased down the road dependent upon demand) per month.

At 1% of CoffeeCoin's market cap, miners (discouraging its devs) would be able to convert the maximum $20.31 (assume the market cap stays the same for illustration purposes only) worth of CFC2 to CPL via PoB during each 30 day period (or calendar month, TPD), receiving $27.63 (rounded up from $27.6216 [27.63 X 1.36]) worth of CPL equating to 2,762« (« = at least 1 US Ęent/1 US penny/1Ę, and always a whole counting number/integer, e.g., 1, 2, 3, etc., for those poor at math), of which represents a 136% return during the conversion process. In essence, for those stuck with CFC2 having no means to alter positions, «oinProLite will take them off your hands at a 136% premium, with the caveat being that CoffeCoin's blockchain is functional.

For sake of example, let's assume we're only speaking of one person/entity desiring to convert 1,381,500 CFC2, valued at $20.31 USD, to $27.63 USD worth of CPL or 2,763«.

The Process:

Step 1: Bob (Alice's main squeeze) enters his desire to convert 1,381,500 CFC2 to CPL on «oinProLite's Getting Started (TBD/nonexistent) page. At this stage, Bob is NOT yet in the queue position where his request will be honored within 72 hours, nor does he have any of his precious CFC2 at risk. Bob's simply in line (pre-queue, if you will) awaiting the first available window to enter the official queue, of which the wait may vary, again, dependent upon demand, and at such time an immediate estimated time frame will be given to Bob if the wait is longer than 24 (perhaps 48) hours. Bob will be notified via the email address he provided 24 (36 or 48, TBD) hours prior him losing his queue position if he fails to act in time.

Step 2: Upon receiving an email, Bob is provided a link directed to a «oinProLite page, whereupon he's able to transfer the full 1,381,500 CFC2, any percentage of said amount, or decline, but opting to get back in the pre-queue position. By not replying to the email in time, Bob's request will become null and void, having to reenter any future requests manually once again, sans any fear of penalties up to 6 (let's say) attempts within a 30 day (let's say) period, or something similar to make sure the system's not gamed.

Bob opts to follow through with the entire 1,381,500 CFC2 transfer, otherwise this example would be fucked, having to hunt down that slut, Alice, to provide an anew example.  Roll Eyes

Bob transfers his 1,381,500 CFC2 from his CoffeeCoin wallet address CeKj6Wx3G5jjz67xmzrkpR4S7wQxG9viiz (contrived CoffeeCoin wallet address) to the sole Proof-of-Burn (PoB) CoffeeCoin wallet address that «oinProLite has confirmed nobody will be able to withdraw the funds from (sans by a rouge dev of an altcoin), having an address akin to CcoinproliteXXXXXXXXXXXXXXXXXXUWLpVr, whereupon anybody can see that a PoB has occurred.

Step 3: I pump the shit outta this ~$20 USD till it reaches a million bucks, then dump the entire project, moving on to develop a new coin.  Kiss (and will even give a reach-around)  Shocked

Within 72 hours max, Bob is award 2,762« ($27.63 USD) to an already in-place «oinProLite wallet address. Assuming at this point in time CPL is formidably trading on various exchanges, Bob's now able to exit his position at any time depending upon if he feels the exchange rate at the time is favorable.

Step 4: Regardless of the exchange rate, Bob, being a gambler or an astute investor (pick one), opts NOT to immediately withdraw his 2,762«, instead eyeing «oinProLite's potential (if you don't realize that this clause is contrived, then may I suggest doubling down on whatever you're currently into), along with wanting to take advantage of the PoS [-Stake] aspect that's provided.

Scenario 1: (taking advantage of the .5%/mo PoS option that kicks in after 90 days, and halving each subsequent year thereafter, prorated every 24 hours GMT, and all decimals always rounded up to next whole number regardless how minute, i.e., 3.0001 = 4)

  • Exiting in less than 90 days: 2,762« available for withdraw
  • Exiting just prior to 120 days: 2,790« available for withdraw
  • Exiting just prior to 16 months: 2,928« available for withdraw
  • Exiting at 19 months, 14 days, and 11 hours: 2,954« available for withdraw

The last scenario equates to a ~45% premium atop the initial $20.31 USD original deposited from something having a helluva less value than that. Granted, few may opt staying with CPL for any extended period of time, possible moving outta such a position if they felt some exchange rate looked favorable, or for some other motive. But, if Bob were to stay holding CPL during the latter example, his purchasing power would be worth no less than $29.54 (if I did the long-hand math correctly) when used on Project Y's site.

Scenario 2: Exchanging for fiat, bitcoins or an alternative alt/crypto on some future exchange that trades CPL when Bob desires to reposition his cryptocurrency stake(s).

Scenario 3: Bob opts to purchase $27.62 USD worth of Project Y's PY (actual ticker symbol withheld for the time being), of which it too will not be valued no less than 1 US Ęent/1 US penny/1Ę and formally trading on formidable exchanges.

In turn, PY will be the predominant payment option to acquire other cryptos that'll ONLY be exchanged on Project Y's platform.

Step 5: After a trading spell, Bob opts to exit one, several or all of Project Y's myriad cryptos. He's able to do so at anytime via BTC, with the entire time Bob was trading since converting his Schit, he never incurs a trading fee, whereas anybody else who enters Project Y's arena via some other accepted currency, they will be assessed some nominal fee.

As I've mentioned before, the beauty of this entire endeavor lies in what Project Y consist of.

That all said, any devs interested in developing what I have envisioned?

Bear in mind for you guys sitting on the sidelines, there's plenty of room for maneuverability if there's some aspects you'll like to see incorporated that I've failed to mention or thought of yet, but suffice to say this'll be built with your best interest in mind, along with as much transparency as possible, allowing you to even dictate the terms. Simply voice your opinion, whereupon a dialog will ensue to further the cause.

~Bruno Kucinskas

«oinProLite Takes Your SÁhit - Literally!

«oinProLite Takes Your SÁhit - Literally!
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August 31, 2014, 05:43:55 AM
Last edit: September 13, 2014, 03:21:40 AM by CoinProLite
#10

Bumped, to let you know I finished penning the last post, and now ready and willing to take your questions and address any concerns you may have.

~Bruno Kučinskas (added the grapheme č, something I've done prior with my Phinnaeus Gage user account)



EDIT: Adding the primitive flowchart below (work in progress):



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September 01, 2014, 03:51:25 AM
#11

So, when can we invest? where do I send the check to? This is very very exciting. Can't wait til we hear more information regarding this gem..
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September 01, 2014, 05:15:37 AM
Last edit: September 11, 2014, 02:39:44 AM by CoinProLite
#12

So, when can we invest? where do I send the check to? This is very very exciting. Can't wait til we hear more information regarding this gem..

Whether tongue-in-cheek or not, it's a good question, one I'm more than happy to address.

Extreme worst-case scenario is that «oinProLite may embrace some type of Havelock-like (but not them) thingy to garner the bare minimum to have this project move forward.

Ideally, that's not the route we (read I, at the moment) want to pursue.

The hope is that a plethora of shitcoiners will express interest in desiring to use «oinProLite as a means to liquidate their dire positions by exchanging their Schit for «PL, hence the poll: https://bitcointalk.org/index.php?topic=763429.

The more interest shown, along with more questions and concerns addressed, the better the chances of having some trustworthy dev(s) join the project for a slice of the proverbial pie.

«oinProLite and Project Y WILL operate with as close to 100% transparency as humanly possible, for the formidable folks participating in Project Y WILL demand it since their reps/creds WILL be at stake.

The niche that Project Y plans to enter is no small potatoes, one that WOULD bring massive awareness to cryptocurrencies in general, Bitcoin in particular. That awareness WILL spill over to millions more folks using Bitcoin, along with the top more viable cryptos currently available and some not yet conceived.

That said, please head on over to https://bitcointalk.org/index.php?topic=763429 and at least participate in the poll, consider voicing your opinions on that thread or on this one.

Thanks for the post, bigasic.

~Bruno Kučinskas (Founder of «oinProLite)

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September 01, 2014, 05:21:18 AM
#13

~Bruno Kučinskas (Founder of «oinProLite)

I thought I recognized those colorful posting skillz.  Wink
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September 01, 2014, 06:02:20 AM
Last edit: September 11, 2014, 02:40:07 AM by CoinProLite
#14

~Bruno Kučinskas (Founder of «oinProLite)

I thought I recognized those colorful posting skillz.  Wink

Colorful text highlighting, colorful metaphors  Shocked or both?  Tongue

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September 01, 2014, 06:10:03 AM
#15

~Bruno Kučinskas (Founder of «oinProLite)

I thought I recognized those colorful posting skillz.  Wink

Colorful text highlighting, colorful metaphors  Shocked or both?  Tongue

A little bit of both I suppose, but the picture of the elephant pooping kind of grossed me out. Luckily I wasn't eating or anything.  Tongue
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September 01, 2014, 06:27:22 AM
Last edit: September 11, 2014, 02:40:31 AM by CoinProLite
#16

~Bruno Kučinskas (Founder of «oinProLite)

I thought I recognized those colorful posting skillz.  Wink

Colorful text highlighting, colorful metaphors  Shocked or both?  Tongue

A little bit of both I suppose, but the picture of the elephant pooping kind of grossed me out. Luckily I wasn't eating or anything.  Tongue

Elephant? Try white rhino: Rhino Business. You don't get out much, do you?  Cry

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September 01, 2014, 06:43:31 AM
#17

~Bruno Kučinskas (Founder of «oinProLite)

I thought I recognized those colorful posting skillz.  Wink

Colorful text highlighting, colorful metaphors  Shocked or both?  Tongue

A little bit of both I suppose, but the picture of the elephant pooping kind of grossed me out. Luckily I wasn't eating or anything.  Tongue

Elephant? Try white rhino: Rhino Business. You don't get out much, do you?  Cry

Once in a blue moon. Smiley

Anyways.. carry on.
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September 02, 2014, 06:01:05 PM
#18

http://www.usatoday.com/story/money/business/2014/09/02/baverman-bitcoin/14728425/

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What I learned was that if Bitcoin is ever to be understood and embraced by the masses, then it has to leave conference rooms and enter living rooms.
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September 03, 2014, 01:38:25 AM
#19

Can't tell if serious or not. But props for making one hell of an an.. eye-catching thread.

So this coin doesn't yet exist, I take it?

This is serious, thanks for the complement, and yes the coin doesn't exist yet.

The entire OP (as it looks now) was first penned at https://bitcointalk.org/index.php?topic=721242, of which had a small handful of posts accompanying it. A mod has sense deleted that thread once this one penned.

At this stage, I'm interested in learning how viable the concept is for those wanting to better their shitcoin positions. I'm going to penned a thread just for this purpose alone.

Please participate in the poll located here: https://bitcointalk.org/index.php?topic=763429

~Bruno Kucinskas
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September 03, 2014, 07:08:52 AM
#20

Shocked

...

Huh

...

Undecided

...

Cool

Brilliant!

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