"Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” ~Ayn Rand~
Announcing the Rand Paul Coin (Deflationary) ! RPCD ! No "mining algorithm" only the consensus algorithm of DPOS! (Delegated Proof of Stake - The magic that lets such a thing happen!)
Note - The launch date will be the 20th at the earliest and likely the day after the official launch of BTS. This is because this coin will be a direct fork of BTS once it is released. For those of you who are not aware, BTS will be the new combined DAC that was BTSX.Rand Paul Coin is the natural progression from Ron Paul Coin, the first blockchain-based alt-currency for the Libertarian movement and all others against the Federal Reserve System and Fraction Reserve Banking. Ron Paul himself announced that crypto-currencies are as legitimate as the US Dollar
https://www.youtube.com/watch?v=B9bOgydFEic. In appreciation for his support of the crypto world, we are now carrying the torch to light the way for his son Rand to have his own next generation coin. But as we honor the son and his loyal constituents, we would be remiss to not do the same for the father! As such, we will be share-dropping 80% of all Rand Paul Coins onto the loyal holders of Ron Paul Coin!
Rand Paul Coin is meant to make a political statement while support alternative currencies and technology. So it only makes sense that we should choose a 2.0 technology that gives its shareholders the power over their network. Due to the innovative features introduced by DPOS, we have chosen to make Rand Paul Coin a fork of BitSharesX (BTSX). Only unlike BTSX—Rand Paul Coin will be Deflationary (RPCD)! That is right! Purely Deflationary! As a deflationary currency, it will gain all the advantages offered by the innovations of Delegated Proof of Stake (DPOS), but will never inflate the money supply!
It is recommended that you read the original Ron Paul Coin announcement and reflect upon its meaning. It can be found here:
https://bitcointalk.org/index.php?topic=389070.0 . The Ron Paul Coin site can be found at
http://www.ronpaulcoin.com . You might wish to think of RPCD as RPC v 3.0.
Being a fork of Bitshares our main ANN thread will be found here:
https://bitcointalk.org/index.php?topic=848182.0As per the BitShares community consensus, we will initialize the Genesis block with 10% AGS, 10% PTS — and as stated earlier, 80% for owners of Ron Paul Coin. The 20% total not given to RPC is meant in order to follow the social consensus as originally put forth by those who made this innovation possible via the Bitshares Toolkit. PTS and AGS deserve to be honored because of the work of Daniel Larimer and team and the fact that RPCD is meant to be honorable and to live through the ages. For this to happen Rand Paul Coin needs the following of the visionaries who made it possible. All of the tokens being sharedropped onto were distributed originally by POW mining and further trading. The AGS/PTS snapshot will be taken from those snapshots created on November 5th. The sharedrop to RPC will occur on the 20th of November. For more information on what a sharedrop is visit
http://bitshares.org/bitshares-airdrop-theory . The supply of RPCD will be 1,000,000 to help maintan a higher value per coin, much like the original RPC.
For RPCD there will be no pre-mine. There will be no hidden accounts. The genesis block creation block will be fully auditable with the procedure to replicate and verify documented on GitHub.
Why is this being done?
This is being done to forward the ideals and goals of the Libertarian Movement.
This is being done to honor Ron Paul's son and his message of Liberty with a coin of his own.
This is being done in hopes of building a platform for donations.
This is being done in hopes of becoming the first Decentralized Autonomous Entity to make a direct political contribution.
This is being done to provide a currency where the natural right to privacy is honored in transactions between people.
This is being done to help further the understanding of Delegated Proof of Stake and what the Bitshares system provides.
This is being done to further Liberty and Prosperity with the tenets of Austrian Economics.
What will not be done is to give promises that can not and will not be possible to fulfill.
Initially RPCD will be an almost identical fork of what is BitShares X. This will be done to maintain the functionality and power given by existing bitshares_toolkit. Currently Bitshares X (BTSX) is undergoing a rebranding into Bitshares with the introduction of inflation to help their business expand via capital like a regular stock issuing corporation.
RPCD will be different. It was designed to be a sovereign currency that is guaranteed to never switch to inflation. Everything will be paid for by transaction fees which may be slightly increased to maintain the health of the network.
Features -
- Transact Invisibly To Any Name (TITAN)
- 20 Second Transaction Times
- Enterprise Scalability up to 10,000 transactions per second (tps)
- Delegated Proof of Stake (DPOS) – shareholders—not miners—control the network
- Deflation of supply increases the value of each circulated coin!
- Market Pegged Assets – Allows users to have assets whose value is pegged to external real world commodities and currencies.
Deflationary! No more Proof of Work (POW) means no more wasting excess shareholder funds to secure the network. We will have 13 delegates to maintain a profitability level for all the block-signers. 1 initial delegate for each of the original colonies which broke away from the British Empire over ridiculous policies of taxation. This will also help block-signers have a profitable position.
Store your wealth in Crypto-Gold and Crypto-Silver! These are not user-issued assets or IOUs that require trust of those issuing them. This is a self-reinforcing market pegging mechanism that brings these assets into existence with collateral and keeps them stable. Allowing order options including shorting and going long. You can now put your crypto investment in stable assets that are fully backed by RPCD itself.
Example – To create an Ounce of crypto-Silver, it means that twice the value of the spot price of Silver are required in RPCD if the Silver is being shorted. These RPCDs are taken off the market and tied up as long as the Silver is in existence. Crypto-USD could be added, but we assume the demand will be small and only when users would wish to hedge against the U.S. Dollar.
This is the first coin to be a clone of Bitshares X, allowing market pegs to store wealth. This will give RPCD a first mover advantage and position RPCD to be a significant coin that will command a premium in value over time.
In the future - development will focus on various ways to support Rand Paul’s candidacy for President of the United States of America. Some of these features will require voting support beyond what is in the current bitshares_toolkit.
It is technically possible to donate RPCD to BTC addresses which can then be unlocked using the private keys of the BTC wallet. This means that if a campaign produces a BTC address for donations, then the DAC can be made to donate to that same address, only using RPCD instead of BTC. The money will be stored on the RPCD blockchain, but the public and private keys used will be the same! Only Rand Paul and Registered Campaign Coordinators will be able to access the funds. If no one claims the donations by the end of the 2016 Presidential Election, these donations will remain in the campaign address and effectively burnt providing further deflation.
Rand wanted a stock market based on bitcoin
http://www.businessinsider.com/rand-paul-has-an-idea-for-improving-bitcoin-2014-5 —well Bitshares developers across the world are working on giving it to him and friends – we will be a part of that!
Exchanges – There has been interest expressed by exchanges, but no firm commitments. Once the coin has been released, we will strive to have the coin exchanged in as many places as possible.
The author of this coin has every intention of creating this coin and have it realize its full potential, but this is not a contract. There are no implied or explicit promises and therefore there should be no expectations. Volunteers are welcome.
20 Second Transaction Time is nice.
It's a deflanationy coin because there is a deflation of the new supply? So it is inflationary like Bitcoin?
