[ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official

[scam confirmed]

3. Beta wallet is clean and is easy to use, just like they promised.

What's special about it? Online wallets are usually clean and easy to use.

In the meantime, sites like vekja.net and www.mybitcoin.com have been experimenting with account-based sites.  You create an account on a website and hold your bitcoins on account there and transfer in and out.  Creating an account on a website is a lot easier than installing and learning to use software, and a more familiar way of doing it for most people.

4. Growth accounts look interesting as well.

Problem with growth accounts is that they are centralized as well (single point of failure). I wouldn't use them for hoarding large amounts (i.e. amounts which are considered as "investment").

The only disadvantage is that you have to trust the site, but that's fine for pocket change amounts for micropayments and misc expenses.  It's an easy way to get started and if you get larger amounts then you can upgrade to the actual bitcoin software.

5. Neucoin is one of the most transparent crypto currencies. The information they provide about the coin and it’s future is very detail. Actually I don’t know any other coin with such detail info.

Yes yes  

2. If you don’t like how they structured distribution or their plan, invest in something else.

You seem to know more than the public does   because we still don't know how they structured distribution of BTC from public presale as well as distribution of $$$ from strategic angel investors prior to public resale. Recently they have once again silently reduced their $$$ funding commitment for foundations...

So, the new coin distribution is shown, but no mention of the reduced capitol?
The "at least $1.2m", previously promlsed as "$1.5m" now reduced to "$1m" in the wiki this week?
(always shown together previously, e.g. "Utility foundation 0.8bn neucoin + $400k")
http://www.neucoin.org/en/wiki/#funding

REDUCTION OF FOUNDATIONS $$$ FUNDING COMMITMENT OVER TIME - SUMMARY


March24

http://web.archive.org/web/20150324084956/http://www.neucoin.org/en/wiki/#funding

April13

http://web.archive.org/web/20150413090232/http://www.neucoin.org/en/wiki/#funding

April25

http://web.archive.org/web/20150425030417/http://www.neucoin.org/en/wiki/#funding

May11

http://web.archive.org/web/20150511052215/http://www.neucoin.org/en/wiki/#funding

May13

http://web.archive.org/web/20150513205601/http://www.neucoin.org/en/wiki/#funding

September07

Funding and Expenditures

By the time of launch, NeuCoin’s three non-profit foundations will be funded with 2.4 billion NeuCoins and at least $1.2 million (enough fiat currency to cover their first year cash expenditures).

Today

http://www.neucoin.org/en/wiki/#funding

[1714581616]

1714581616

[1714581616]

1714581616

[starblocks]

3. Beta wallet is clean and is easy to use, just like they promised.

What's special about it? Online wallets are usually clean and easy to use.

In the meantime, sites like vekja.net and www.mybitcoin.com have been experimenting with account-based sites.  You create an account on a website and hold your bitcoins on account there and transfer in and out.  Creating an account on a website is a lot easier than installing and learning to use software, and a more familiar way of doing it for most people.

4. Growth accounts look interesting as well.

Problem with growth accounts is that they are centralized as well (single point of failure). I wouldn't use them for hoarding large amounts (i.e. amounts which are considered as "investment").

The only disadvantage is that you have to trust the site, but that's fine for pocket change amounts for micropayments and misc expenses.  It's an easy way to get started and if you get larger amounts then you can upgrade to the actual bitcoin software.

5. Neucoin is one of the most transparent crypto currencies. The information they provide about the coin and it’s future is very detail. Actually I don’t know any other coin with such detail info.

Yes yes  

2. If you don’t like how they structured distribution or their plan, invest in something else.

You seem to know more than the public does   because we still don't know how they structured distribution of BTC from public presale as well as distribution of $$$ from strategic angel investors prior to public resale. Recently they have once again silently reduced their $$$ funding commitment for foundations...

So, the new coin distribution is shown, but no mention of the reduced capitol?
The "at least $1.2m", previously promlsed as "$1.5m" now reduced to "$1m" in the wiki this week?
(always shown together previously, e.g. "Utility foundation 0.8bn neucoin + $400k")
http://www.neucoin.org/en/wiki/#funding

REDUCTION OF FOUNDATIONS $$$ FUNDING COMMITMENT OVER TIME - SUMMARY


March24

http://web.archive.org/web/20150324084956/http://www.neucoin.org/en/wiki/#funding

April13

http://web.archive.org/web/20150413090232/http://www.neucoin.org/en/wiki/#funding

April25

http://web.archive.org/web/20150425030417/http://www.neucoin.org/en/wiki/#funding

May11

http://web.archive.org/web/20150511052215/http://www.neucoin.org/en/wiki/#funding

May13

http://web.archive.org/web/20150513205601/http://www.neucoin.org/en/wiki/#funding

September07

Funding and Expenditures

By the time of launch, NeuCoin’s three non-profit foundations will be funded with 2.4 billion NeuCoins and at least $1.2 million (enough fiat currency to cover their first year cash expenditures).

Today

http://www.neucoin.org/en/wiki/#funding

You sound so ignorant

[OCP]

1. Exchanges: 50 million - 100 million NeuCoins
Exchanges are crucial ecosystem partners for NeuCoin. The NeuCoin Utility Foundation will proactively seek out and work with exchanges to list NeuCoin. It will give exchanges initial bounties for integration (with higher bounties going to larger, more strategic exchanges; also bounty payments will be higher the earlier an exchange lists NeuCoin) plus an additional large pool of NeuCoin bounties will be distributed to exchanges based on the volume of NeuCoin trading that they facilitate in the year following launch.

This bodes well. I'm guessing there will be a coordinated listing with a few quality partner exchanges. Incentives for exchanges to integrate. Bonuses to exchanges based on volume, I like it.

[scam confirmed]

3. Beta wallet is clean and is easy to use, just like they promised.

What's special about it? Online wallets are usually clean and easy to use.

In the meantime, sites like vekja.net and www.mybitcoin.com have been experimenting with account-based sites.  You create an account on a website and hold your bitcoins on account there and transfer in and out.  Creating an account on a website is a lot easier than installing and learning to use software, and a more familiar way of doing it for most people.

4. Growth accounts look interesting as well.

Problem with growth accounts is that they are centralized as well (single point of failure). I wouldn't use them for hoarding large amounts (i.e. amounts which are considered as "investment").

The only disadvantage is that you have to trust the site, but that's fine for pocket change amounts for micropayments and misc expenses.  It's an easy way to get started and if you get larger amounts then you can upgrade to the actual bitcoin software.

5. Neucoin is one of the most transparent crypto currencies. The information they provide about the coin and it’s future is very detail. Actually I don’t know any other coin with such detail info.

Yes yes  

2. If you don’t like how they structured distribution or their plan, invest in something else.

You seem to know more than the public does   because we still don't know how they structured distribution of BTC from public presale as well as distribution of $$$ from strategic angel investors prior to public resale. Recently they have once again silently reduced their $$$ funding commitment for foundations...

So, the new coin distribution is shown, but no mention of the reduced capitol?
The "at least $1.2m", previously promlsed as "$1.5m" now reduced to "$1m" in the wiki this week?
(always shown together previously, e.g. "Utility foundation 0.8bn neucoin + $400k")
http://www.neucoin.org/en/wiki/#funding

REDUCTION OF FOUNDATIONS $$$ FUNDING COMMITMENT OVER TIME - SUMMARY


March24

http://web.archive.org/web/20150324084956/http://www.neucoin.org/en/wiki/#funding

April13

http://web.archive.org/web/20150413090232/http://www.neucoin.org/en/wiki/#funding

April25

http://web.archive.org/web/20150425030417/http://www.neucoin.org/en/wiki/#funding

May11

http://web.archive.org/web/20150511052215/http://www.neucoin.org/en/wiki/#funding

May13

http://web.archive.org/web/20150513205601/http://www.neucoin.org/en/wiki/#funding

September07

Funding and Expenditures

By the time of launch, NeuCoin’s three non-profit foundations will be funded with 2.4 billion NeuCoins and at least $1.2 million (enough fiat currency to cover their first year cash expenditures).

Today

http://www.neucoin.org/en/wiki/#funding

You sound so ignorant

... says the ignorant fool who chooses to be blind...

[Puppet Master]

... says the ignorant fool who chooses to be blind...

S.C. THOU UNGODLY PUPPET - THOU MUST KNEEL BEFORE THY MASTER. KNEEL!

[newtoallofthis2]

I still find myself wondering why Rizzlarola and Scam Confirmed both set-up accounts in April specifically to rubbish NeuCoin. Both have never posted about anything else and have criticised pretty much every single angle (Rizz's first post is a gem - attacking the name, the marketing, the concept, the financials, you name it!).

What is the motivation chaps? Why the obsession? Its practically a full time job for you both!

[Neucoininvestor]

Hi again everyone,

Here is the second post from the NeuCoin Forum that relates to strategy and accountability, this one about how the foundations plan to distribute NeuCoins from launch through yearend 2016.

The NeuCoin Foundations' plans for distribution of NeuCoin over 2015 and 2016

NeuCoin's founding principle is that the cryptocurrency should be distributed to all who grow its utility and value.
To this end, the NeuCoin Project is supported by three non-profit foundations - the NeuCoin Code Foundation, the NeuCoin Utility Foundation and the NeuCoin Growth Foundation - funded with 2.4 billion premined NeuCoin tokens:

• NeuCoin Growth Foundation: 1.4 billion NeuCoins
• NeuCoin Utility Foundation: 0.8 billion NeuCoins
• NeuCoin Code Foundation: 0.2 billion NeuCoins

During the first few years after launch, the number of NeuCoin tokens held by the foundations is expected to increase, because the extremely high PoS awards during the early years should be considerably higher than the foundations? expenses. Foundation coin holdings are projected to peak around year five, then decline slowly and ultimately stabilize at well under 5% of the total supply.

Below is a high-level overview of the projected distribution of NeuCoin tokens by the NeuCoin foundations for the period from launch through the end of 2016. This plan represents the foundations' best effort to distribute the cryptocurrency in such a way as to maximize its utility and value.

At the end of each calendar quarter, the NeuCoin foundations will publish accounts of actual NeuCoin distribution and update distribution plans for the remainder of the period.


NeuCoin Growth Foundation
Total projected distribution through yearend of 2016:
460 million - 1.1 billion NeuCoin tokens

The NeuCoin Growth Foundation's mission is to maximize the long-term value of NeuCoin by attempting to grow the largest possible base of active, engaged users. Hence, it will use its endowment to acquire users and to compensate others who help to acquire users.

1. Direct to consumers: 300 million - 750 million NeuCoins
It is obvious that the more people there are who use a cryptocurrency, the more service and content providers will want to accept the token. For this reason, the largest share of the foundations' NeuCoin endowment will be given for free directly to consumers. However, simply "airdropping" free NeuCoin onto consumers - as in, giving 1,000 free tokens to every person in the world with a Facebook account or a cell phone - wouldn't work. The consumers would not have been qualified for receiving the NeuCoin, would not have been educated about its benefits, would not have shown sufficient interest in it.

Therefore, the NeuCoin Growth Foundation will only be awarding small amounts of free NeuCoin in exchange for consumers engaging with, trying out, and learning about NeuCoin: a "freemium", zero friction strategy giving new users a chance to have a good first NeuCoin experience for free. As such, the consumers receiving free NeuCoins will be qualified, educated and interested. Consumers will feel like they have "earned" their NeuCoin.

Some of the initially planned ways that consumers will receive free NeuCoin are the following:

• Signing up for an account at MyNeuCoin and validating that they are a unique user
• Completing the GetNeuCoin game-like, educational faucet
• Playing or winning an online game that integrates NeuCoin
• Tipping a musician or other content creator who has asked for a NeuCoin tip
• Trying premium content for free

The NeuCoin Growth Foundation's stretch goal is to acquire 5 million consumers by the end of 2016 and its base goal is to acquire 2 million consumers. It is expecting the average user to receive 150 NeuCoins from a range of activities, but lot of effort will of course be put into rewarding extra active users.

Note that all "freemium" NeuCoins distributed to consumers will be unrestricted for use or sale, while all other NeuCoins awarded by the three foundations (to exchanges, marketing partners, game developers, etc that increase the utility and value of NeuCoin) will be restricted for use or sale.

2. Consumer referral programs: 50 - 100 million NeuCoins
Rewarding users for recruiting other users is a key part of NeuCoin's growth strategy. Out of the gates, NeuCoin will be launching a referral program whereby users who recruit their friends will earn 50% as many NeuCoin tokens as the recruited friend earns from NeuCoin's various direct-to-consumer bounty programs (such as playing a game, tipping a band, or completing a survey).

3. Marketing Partners: 100 - 200 million NeuCoins
Working with various distributors, marketing and media partners that can help NeuCoin acquire new users is another top priority. While some user acquisition programs and ad buys will of course require payments in fiat currency, the NeuCoin Growth Foundation will seek out marketing partners that have large user bases and/or ad inventory who will accept payment in restricted NeuCoins.

4. Service Providers: 10 - 50 million NeuCoins
Service providers doing contract work for the NeuCoin Growth Foundation include web design agencies, software and hardware consultants, law firms, PR and marketing agencies, creative consultants and more. While these types of contractors often require fiat, the NeuCoin Growth Foundation will award restricted NeuCoins whenever possible.


NeuCoin Utility Foundation
Total projected distribution through yearend 2016:
300 - 725 million NeuCoin tokens

The NeuCoin Utility Foundation works to maximize the value of NeuCoin by making NeuCoin both "as easy to use" as possible, and "more useful than traditional currencies" for specific applications. Hence, the NeuCoin Utility Foundation's endowment will be awarded to companies such as game publishers and content providers that accept microtransactions with NeuCoin tokens, exchanges, wallets, consumer mining services, payment processors, and other key services to NeuCoin users.

1. Exchanges: 50 million - 100 million NeuCoins
Exchanges are crucial ecosystem partners for NeuCoin. The NeuCoin Utility Foundation will proactively seek out and work with exchanges to list NeuCoin. It will give exchanges initial bounties for integration (with higher bounties going to larger, more strategic exchanges; also bounty payments will be higher the earlier an exchange lists NeuCoin) plus an additional large pool of NeuCoin bounties will be distributed to exchanges based on the volume of NeuCoin trading that they facilitate in the year following launch.

2. Game Developers/Publishers: 100 - 200 million NeuCoins
Integrating NeuCoin in online/mobile games is a top priority, from both a user acquisition and consumer utility perspective. The NeuCoin Utility Foundation already has two prototype games in development based on popular, generic games that will demonstrate how NeuCoin can be incorporated into game experiences - giving out free NeuCoins as a reward for playing, winning, leveling up, etc. Using the prototype games as pilots, the NeuCoin Utility Foundation intends to partner with leading game publishers with large existing user bases to integrate NeuCoin.

3. Premium Content Creators and Platforms: 100 - 200 million NeuCoins
In addition to the gaming vertical, NeuCoin will also be compensating content creators and platforms that integrate NeuCoin's solutions for tipping and ad-free premium content (pay-per-view, ad-free and micro-subscriptions). The NeuCoin Utility Foundation plans to award relatively modest NeuCoin bounties to partners for completing integration work and making commitments to marketing on their platforms. It will award higher bounties to partners based on success metrics. It will also be funding NeuCoin compensation to individual content creators.

4. Wallets: 10 - 100 million NeuCoins
With the online wallet MyNeuCoin as a first reference the NeuCoin Project will encourage competition and work to incentivize third party companies to develop more and differentiated wallet services for the NeuCoin ecosystem. Also, while this may not be realistic until NeuCoin has reached millions of consumers, the NeuCoin Utility Foundation will work to get established cryptocurrency wallet service providers to integrate NeuCoin.

5. Mining Pools: 10 - 25 million NeuCoins
Making it easy for regular consumers to participate in mining pools is an important priority. With MyNeuCoin's "Growth Accounts" as a reference, the NeuCoin Utility Foundation will encourage competition and work to incentivize third party companies to bring more choices to the NeuCoin ecosystem.

6. Payment Processors: 20 - 50 million NeuCoins
Some online merchants, content and service providers will want to accept NeuCoin as a payment option for microtransactions - but need to convert the NeuCoin payments directly into fiat. The NeuCoin Utility will seek out one or more payment processors to provide this service and reward them with restricted NeuCoin.

7. Service Providers: 10 - 50 million NeuCoins
Service providers doing contract work for the NeuCoin Utility Foundation include web design agencies, game development studios, software and hardware consultants, law firms, consultants and more. While these types of contractors mostly require fiat, the NeuCoin Utility Foundation will award restricted NeuCoins whenever possible.


NeuCoin Code Foundation
Total projected distribution through yearend 2016:
20 - 40 million NeuCoin tokens

The NeuCoin Code Foundation's mission is to maximize NeuCoin's long-term value through stewardship of the source code. Its main goals for the code are: security, decentralization, scalability, and the development and maintenance of NeuCoin's voting mechanism.

1. Bounties to the cryptocurrency community: 10 - 20 million NeuCoin tokens
To foster an active developer community, The NeuCoin Code Foundation will award bounties in the areas that relate to the NeuCoin source code and whitepaper, as well as the areas of security, scalability, decentralization, nodes, etc.

2. Service Providers: 10 - 20 million NeuCoin tokens
Service providers doing contract work for the NeuCoin Code Foundation include software and hardware consultants, security experts, law firms, jurisdictional consultants and more. While these types of contractors mostly require fiat, the NeuCoin Code Foundation will award restricted NeuCoins whenever possible.

Very informative for people who invested or who plan to invest.

I invested in Neucoin and updates like this one bring transparency to the project. Well done.

[Neucoininvestor]

1. Exchanges: 50 million - 100 million NeuCoins
Exchanges are crucial ecosystem partners for NeuCoin. The NeuCoin Utility Foundation will proactively seek out and work with exchanges to list NeuCoin. It will give exchanges initial bounties for integration (with higher bounties going to larger, more strategic exchanges; also bounty payments will be higher the earlier an exchange lists NeuCoin) plus an additional large pool of NeuCoin bounties will be distributed to exchanges based on the volume of NeuCoin trading that they facilitate in the year following launch.

This bodes well. I'm guessing there will be a coordinated listing with a few quality partner exchanges. Incentives for exchanges to integrate. Bonuses to exchanges based on volume, I like it.

I think exchanges will be excited to list Neucoin. A new currency with strong team, solid angel investors, detailed growth and marketing plan, bounties program - looks like a very solid player in crypto world.

[scam confirmed]

I still find myself wondering why Rizzlarola and Scam Confirmed both set-up accounts in April specifically to rubbish NeuCoin. Both have never posted about anything else and have criticised pretty much every single angle (Rizz's first post is a gem - attacking the name, the marketing, the concept, the financials, you name it!).

What is the motivation chaps? Why the obsession? Its practically a full time job for you both!

I've answered a similar question before. I consider the NoKoin project as an interesting psychological study in which all facets of human blindness are studyable.

[Berkeley]

Coin holdings restricted for use or sale
First of all, unlike any other cryptocurrency project, all members of the founding team, angel investors, and service providers of the NeuCoin Project have agreed to the imposition of use and sale restrictions on the NeuCoin tokens they have received or will receive. Restricted coins become unrestricted according to the following schedule:

• 2% of holdings per month in the first year
• 3% per month in year two
• 4% per month in year three
• 5% per month in year four
• 6% per month in year five
• After year five, all restrictions expire

Illustration of how the re-sale restrictions work in practice
Consider an angel who owns 1 million NeuCoin tokens on the day of launch. For the first month after launch, the angel cannot sell any NeuCoins; indeed the angel does not even have any access to the private keys for his/her tokens. During the month, assume the angel’s NeuCoins grow to 1.08 million due to POS rewards. At the end of the month, 2% of 1,080,000, or 21,600, would become unrestricted and sent to the address of the angel’s choice. At the beginning of month two, the angel has 1,058,400 restricted NeuCoins. During the month, assume this restricted coin balance grows 7.9% from POS rewards to approximately 1,142,000 coins. At the end of the second month, 2% of this balance, or 22,840 coins, become unrestricted, and will be sent to the angel’s address. And so on.

This seems ok. Makes everybody motivated to increase the value of the coin, at least for 5 years.

[rizzlarolla]

Coin holdings restricted for use or sale
First of all, unlike any other cryptocurrency project, all members of the founding team, angel investors, and service providers of the NeuCoin Project have agreed to the imposition of use and sale restrictions on the NeuCoin tokens they have received or will receive. Restricted coins become unrestricted according to the following schedule:

• 2% of holdings per month in the first year
• 3% per month in year two
• 4% per month in year three
• 5% per month in year four
• 6% per month in year five
• After year five, all restrictions expire

Illustration of how the re-sale restrictions work in practice
Consider an angel who owns 1 million NeuCoin tokens on the day of launch. For the first month after launch, the angel cannot sell any NeuCoins; indeed the angel does not even have any access to the private keys for his/her tokens. During the month, assume the angel’s NeuCoins grow to 1.08 million due to POS rewards. At the end of the month, 2% of 1,080,000, or 21,600, would become unrestricted and sent to the address of the angel’s choice. At the beginning of month two, the angel has 1,058,400 restricted NeuCoins. During the month, assume this restricted coin balance grows 7.9% from POS rewards to approximately 1,142,000 coins. At the end of the second month, 2% of this balance, or 22,840 coins, become unrestricted, and will be sent to the angel’s address. And so on.

This seems ok. Makes everybody motivated to increase the value of the coin, at least for 5 years.

Yeah, seems ok. Till you crunch the numbers.
Do the math. You will see it is a ponzi?

$40m will be paid to founders/team/angels in just the first 3 years alone, at presale prices.
That's the equivalent of a presale every month for the next 3 years.

Do the math yourself.
neucoin wont do them for us.
Can't understand why they don't want us to know?

[onemorequestionplease]

We made questions about mining but noone ever replies. Organisation is managed so poorly. I dont know if Ophelie and Sandrine dont care or if they unable to cope. Time will tell. do you know more?  http://forum.neucoin.org/t/pow-mining-change-of-algorithm/1368

[piebeyb]

whether this will really be released in the near future before 30 September, as a beta tester on the wallet was already quite good and nice

[onemorequestionplease]

Everyone knows about beta wallet yay. Why they dont give the mining information?

[greg123]

I hadn't realized that the restrictions would also apply to the staked coins. That's good.

[scam confirmed]

I hadn't realized that the restrictions would also apply to the staked coins. That's good.

At the initial 100% PoS rate this is potentially irrelevant, even without including the discounted value !

https://en.wikipedia.org/wiki/Hyperinflation

[greg123]

I hadn't realized that the restrictions would also apply to the staked coins. That's good.

At the initial 100% PoS rate this is potentially irrelevant, even without including the discounted value !

https://en.wikipedia.org/wiki/Hyperinflation

That makes it even more relevant in my opinion. All those staking rewards are also subject to sale restrictions.

So no matter how much the coins increase through mining - team, etc can never sell more than 2%-6% a month of whatever they have for the first five years.

And the coins will grow just as much for the rest of us that are staking. But we have no restrictions!

I have never heard of any other coin that has restrictions like this. I really like it.

[LiQio]

[...]
I have never heard of any other coin that has restrictions like this.
[...]

Me neither, but then again, ever heard of a coin were founders and team keep like 99% after the pre-sale 

[greg123]

[...]
I have never heard of any other coin that has restrictions like this.
[...]

Me neither, but then again, ever heard of a coin were founders and team keep like 99% after the pre-sale 

That's not how I read the post. The founders and team don't control the majority of the coins. The foundations do, for the first few years, then a minority even as the coins are distrubuted. And the foundations have a defined plan for how to distrubute them to consumers, exchanges, games etc.
And all coins will be in specific wallets and transactions seen on the blockchain and disclosed in reports. So that's good.

Another thing I like is that all the coins distrubuted by the foundations will have sale restrictions too.

I think this is smart. Much smarter than when founders have a lot of coins they can dump at any time.

[LiQio]

[...]
I have never heard of any other coin that has restrictions like this.
[...]

Me neither, but then again, ever heard of a coin were founders and team keep like 99% after the pre-sale 

That's not how I read the post. The founders and team don't control the majority of the coins. The foundations do, for the first few years, then a minority even as the coins are distrubuted. And the foundations have a defined plan for how to distrubute them to consumers, exchanges, games etc.
And all coins will be in specific wallets and transactions seen on the blockchain and disclosed in reports. So that's good.

Another thing I like is that all the coins distrubuted by the foundations will have sale restrictions too.

Oh, the foundations - do they have nothing to do with founders and team?

As for the monitoring, that's a property of blockchain tech, it's not really a USP.