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Topic
Board Securities
Re: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]
by
Sou
on 09/10/2013, 12:29:21 UTC
I have an idea but I"m not sure if its a good one. I woke up with it. Sometimes those are bad. I've been reading a lot of suggestions on various sites and this is sort of my amalgam of a lot of other people's ideas.

Why not have ken create an altcoin "Activeminingcoin" that he sets the parameters for. 25 million coins generated on the genesis block (like the initial shares).

Then, after that, only transaction fees per block (which are set to be very low). The coin can be a simple sha256 and set so that blocktimes are every 2 minutes or so. It wouldn't matter if people mined it as long as someone did (probably ken).

Everyone with ActM stock tenders the stock to ken. They download the client, and set up a wallet. Ken transfers coins to those people based on how much stock they've tendered 1:1

Then, ken sets up a website where people can register their addresses. You make a signed message with both your BTC address and also your ActM coin address. This proves you own both.

When it comes to dividends a simple scrypt can be run to check the balance of any ActM coin address and send the corresponding amount to the registered BTC address.

Want to sell your stock? No problem. I would wager money Big Vern would put it on cryptsy as this is a "coin" and not a stock and exchange operators would gradually accrue these coins through fees. If I ran cryptsy I'd put every shitcoin on there that had sufficient volume to make it worth the bandwidth cost. Why not add stock coins?  This allows liquidity in the stock and people to sell and buy shares as they see fit. If a major exchange goes down, who cares, you withdraw your coins and can trade directly on bitcointalk or reddit or any other means.

Thoughts?

This has been brought up, and is one of the many options being considered. There are a few problems with the idea though.