Quote from: candlicul on December 17, 2018, 11:32:58 AM

Quote from: TanchikG on December 17, 2018, 11:23:47 AM

Quote from: vampirus on December 13, 2018, 03:05:42 PM

Quote from: TanchikG on December 13, 2018, 12:48:48 PM

Why did you create a coin that has no financial support?

Because it is free coin for crypto enthusiasts, not ICO or Token.

How can it be free if I paid money for mining? You paid for adding 1 btc . Sorry, I just don't understand what's the point? You do not want to earn?

What is the purpose of this coin? Is it only needed for mining?

Financial Support is somehing a lot of players of the Galactic Milieu take quite seriously.

Thus since the United SCI-Fi coin came into existence there has been talk of possibly trying to set it up as a "reserve currency" and even maybe a "Intergalactic Monetary Fund" or "Galactic Central Bank or somesuch.

Basically what we like to do in the Milieu, when possible, is to calculate a "fundamental" value for the currencies of the various Civilisations, Nations, Corps or other groups that have currencies conceived as being "their currency". Basically if "their" currency is backed by the full faith and fortunes of their Civilisation, or Corp, or even just by a designated "treasury", then we can add up the supposed value of their treasury (assets) and divide that total by the total number of coins to calculate a supposed "value" of their currency.

So the idea here is that whatever entity, group, Corp, Civilisation etc the USF coin is the currency of will have a designated treasury intended for "backing" the coin.

So far that is simply the same thing already done for United Kingdom Britcoin (UKB), Canadian Digital Notes (CDN), United Nations Scrip (UNS), Galactic Mining Corp scrip (GMC), Galactic Retirement Funds scrip (GRF), bitNicKeLs (NKL) and Martian BotCoins (MBC), which are the "big seven" galactic currencies of the Galactic Milieu.

Where the IMF or Galactic Central Bank idea could maybe go beyond what is so far being done would be to have it hold in trust the designated treasuries of various lesser entities or groups, so that even players who do not yet have years of reputation and trust built up within the Milieu could have their own currency, whatever that might be, similarly backed by a treasury without all the other players dismissing their new currency as irrelevant or untrustworthy due to the ability of its player(s) to simply run off with its treasury leaving it backed by nothing.

For example we do not yet use the Klingon Empire Darsek within the Milieu, largely because its daemon kept freezing up on me when I tried to use its built in mining and then when I tried to mine it with a GPU it blew up not only the GPU but also the motherboard.

But still it is just a hypothetical example of a civilisation and its currency that could choose to enter play. This IMF or GCB idea would let them deposit a bunch of stuff (such as Big Seven currencies for example, or other things we already compute values of) into a designated treasury that tey cannot run off with; the IMF would compute the value per KED by dividing the value of that treasury by the number of KED in existence and I guess probably act as redeemer of last resort for KED, buying them using the items in that treasury and buying such items for that treasury using any KED they thusly "bought back" for the treasury.

That way no one need even worry about trusting some previusly unknown player or players who enter the Milieu as Klingons to faithfully "back" the KED, the presumably trusted entity known as IMF or GCB or whatever would be in there acting on KED's behalf.

By this means maybe we can add players to the Milieu who will play various species races civilisations Corps or whatever traditionally conceived to be the folks each of the existing "Sci Fi coins" is the currency of...

(There is a specific word I wanted to use instead of to hold in trust, designating someone who holds both sides of a deal's goods and gives them out when both sides have honoured the deal, but I cannot remember the name and googling thesaurus: hold in trust did not help me find it. It is a service we see used and talked about a lot on these forums its annoying that the word escapes me at this moment.)

-MarkM-