Post
Topic
Board Altcoin Discussion
Re: WANTED! DEV/programmer GENIUS to partner in launching exciting new ALT coins
by
CaptEmulation
on 30/12/2013, 21:36:00 UTC
Quote
This is like offering a yellow Dollar bill which can only be used to by bananas.  Why would I want to use that instead of a regular dollar bill?

As crypto becomes more mainstream and general public adopt it dollar bills are going to eventually have little or no value, it will be the successful trusted crypto brands that will be successful.
OK fair enough, everyone here hates fiat.  But what are you offering here over bitcoin?  Why should someone choose to direct hashing power at your blockchains?  What value is provided by a "Stockcoin" to buy stocks and a "JPYCoin" to buy yen?  How will these be more successful than just bitcoin?  What is your plan for "colored addresses" and the related contracting protocol being developed in bitcoin?  All I see here is some websites and some logos-- but what, if any, markets are you creating?  You do realize that do any of this, not only do you need a "genius programmer"-- you need a team of them and a few hundred mil to create, secure and back the markets it seems you want to create.

So let's take JPYcoin as an example.  How would this be pegged in any way to the JPY market?  Crytocurrencies have fixed inflation, not so for fiat.  Are you going to put up the millions of yen to establish a market?  Is your plan is to pay people in yen who mine your JPYcoin and then, where does your profit come in?  I'm really at a complete and total loss on how you expect this to work.  Is your plan for a P2P distributed market using colored addresses and the latest unreleased bitcoin contract protocol?  Or do you plan a funded central exchange?

It's one thing to make a joke/fun coin like funkycoin/bombcoin/dogecoin (in which case why are you hiring a genius?)-- but an entirely different matter to actually create a real functioning financial market using a brand new cryptocurrency.  My suggestion is to take a look at what is being developed around colored coins, and put your noggin' thinking about how you can build on top of bitcoin to create these markets. 

https://bitcointalk.org/index.php?topic=106373.0
https://bitcoil.co.il/BitcoinX.pdf
http://coloredcoins.org/