Quote from: sly5am on June 25, 2014, 05:47:42 AM

Quote from: metalcoin on June 25, 2014, 04:33:02 AM

No, I'm right here, battling battling the skeptics, while working on the coin.

I just want to say that I'm going to stick this one out. I'm hoping that my perseverance and honesty will gain support in the end. I have faith in this concept, even though it's changed considerably from it's original form. I think if enough of us stick around, we might be able to make headway in a month or two. I also believe this concept might be a little ahead of it's time and released under poor market conditions, but wait, someone will eventually offer a similar concept in the near future. We have ATMs, merchant services, point of sale systems and advancements happening everyday. I feel that altcoin trends might do a complete cycle and end up something like the gold and silver backed US bills that they discontinued in 1933. We're already close with all the incentives that altcoins are offering these days.

With so many coins released in the past 6 moths, I believe there aren't enough developers to support all the coins and their communities. Everyone is busy trying to boost their own coin and if one doesn't have a coder in their dev team, things generally end up falling apart. This coin can be an industry first and very successful if supported by a strong community, and unfortunately I really missed the 'DOGE-like community support train'. It's big business and people get greedy. Look at what happened to DOGE with Jackson Palmer leaving the community.

In some ways, all the hate on this thread might be a good sign, as we might be pulling at the right strings. I put a lot of time into this coin and I'm pursing it more for market presence than I am for monetary gain and I feel that if I stick it out long enough, someone will eventually recognize the true value in this concept. We have interest on Twitter growing daily. Until then, we have 3300 in precious metals for now, I might add a few more coins to the reserve down the road, if we need it.

There are a few people that have contacted me regarding bounties, I'll post an update when I have one.

Thanks again to everyone who supports this coin. Anyone who cares to join me in this battle, I'll be right here.

Why would you not offer the IPO before mining commensed? It makes sense to build a gold reserve to back your coin before you started the mining. The problem you have right is contrary to what you consider your asset. You don't have support. There is no one mining on any pools, so the hash must be coming from solo mining. That could be 1 big whale mining all the coins, or a 100 smaller miners. TBH I don't see any value in this coin without something backing it up. You decided to centralize this coin, but you put nothing up to support it. Don't take it the wrong way, correct me if im wrong, but im being critical due to the fact I've seen this concept fail over and over in the past. The longer there is no market for this coin, the faster it will die.

Thanks sly5am, I appreciate your criticism and I agree with some of what you've said.

I offered the IPO after the release because I felt like the community didn't entirely warm up to this concept and I thought it may appear sketchy if I offered an IPO last minute before the release. I wanted people see what they were investing in and didn't want to raise any more suspicion than I had already raised.

In regards to you comments about decentralizing the coin, I still make no apologizes. I feel there needs to be some form of centralization due to the nature of this coin, otherwise how are you going to guarantee the security of everyones gold? Regardless of the decentralized payment systems that cryptos offer, they still have to rely on escrow services when security is involved. MetalCoin is still decentralized at it's core, just like any other coin, we just want to centralize the elements that relate to security and price control, for the best interest of the coin holders. I feel we've made a decent attempt at addressing the issue of trust and security by offering positions to the community to help secure and operate this coin together.