Mythril [MYTH]

[CrowdWhale]

NOTE: I'll be using this thread to plan the design and launch of Mythril [MYTH]. Consider the following information to be incomplete and subject to frequent change. Do not base investment decisions on this information as the project could be cancelled or significantly modified at any time.


Mythril [MYTH]

A coin with no proof of work and 0% proof of stake interest. The reward is delivered 100% via the transaction fee. This design is intended to reward those who support the network rather than simply anyone owning coins. It also ensures zero inflation of the coin total. The 100% "premine" and price floor are intended to trade rewards for wasteful mining for price stability. The coin will essentially be backed by BTC. Mythril will be designed and intended for micro-payments in online indie games, especially web-based RPGs (Role-Playing Games).


Specifications

Total Coins: 1,000,000
Transaction Fee: 0.03 MYTH
Stake Interest: 0%
Stake Delay: 24 Hours
Block Time: 20 Seconds
Confirmations: 3


Generation & Distribution

All coins will be premined and sold at 0.001 BTC.

   1m * 0.001 BTC = 1,000 BTC


Price Floor and DevFund

* 95% of BTC from MYTH sold or resold will be added to the price floor (initially at 0.00095 BTC).
* 5% of BTC from MYTH sold or resold will be traded to USD and added to the DevFund.

   1,000 * $330 = $330,000 * 0.05 = $16,500 (50 BTC) in DevFund

* 100% of MYTH rebought will be resold at the 1 month high, but no less than 105% of the floor.
* The majority of MYTH rebought will be staked to support the network instead of forming a massive sell wall.
* If the price floor grows larger than 1,000,000 coins it will be raised.
* The price floor can only be lowered if it's above 0.001 and it shrinks to less than 800,000 coins.
* The price floor may not be removed... ever. It acts as the backing for the coin.
* If the coin is eventually backed by something other than BTC (silver?) there will be at least 90 days notice.

The DevFund will be used to support the promotion and development of:

Mythril Coin [MYTH]: A coin dedicated to the promotion & funding of indie games.
Thorns of War [ToW]: A browser-based RPG & World Simulation powered by Mythril.
Earth Assembly [EA]: A social network with voting & commerce powered by Mythril.


Contacts

[MYTH] Twitter: https://twitter.com/mythrilcoin
[ToW] Facebook: https://www.facebook.com/towrpg
[EA] Facebook: https://www.facebook.com/earthassembly

Developer
Email: jasoncatalyst@gmail.com
Twitter: @JasonCatalyst
Bitcointalk: CrowdWhale


TODO:

Decide Coin To Clone
Clone & Modify Coin
Compile Wallets
Block Explorer
Exchange
Chart

[CrowdWhale]

Step 1) Decide coin to clone.

Novacoin? Suggestions?

Also: If there's a developer out there that wants to help out, please let me know. I've coded in all C languages, but I've never coded a coin before.

[Cryptofi$h]

Maybe Groupcoin would be into this.  His name is Bosman. 

[cosmoo]

Sounds fun, i dunno if a Mythril coin has been done yet. It's a good name for one. Maybe check out Minerals, i think their angle is the same.

[Eddie_03]

ive played enough final fantasy to know this isnt to be taken serious...like whats the purpose of this Mythril/"coin", just to replicate/clone off another ?
wark warrrk !! :Chocobo Dance:   

[dominikf]

Whats the flex exchange rate for this?

[Tony Lane]

Whats the flex exchange rate for this?

& How will the exchange of Flex work in practical terms?

[CrowdWhale]

ive played enough final fantasy to know this isnt to be taken serious...

I have no idea what you mean by that.

like whats the purpose of this Mythril/"coin", just to replicate/clone off another ?

The answer to that is in the OP.

How will the exchange of Flex work in practical terms?

That's not happening now. The FLEX dev is still twitching... barely... and the price floor concept isn't air tight if MYTH is exchanged at a lower rate.