Author Topic: The club crypto coin.  (Read 62 times)

Offline Jet Cash

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The club crypto coin.
« on: November 22, 2018, 01:56:10 PM »
We plan to create a crypto coin to register the ownership of "shares"in the club assets. As the underlying assets will vary in value, the coin needs to be able to reflect this, and all transactions and assets need to be transparent. The coins will not be available for purchase by non-members, and they are unlikely to be traded on any exchanges. There will be no airdrops or bounties. Mining and pre-mining is not relevant.  As transactions will probably be infrequent, blocks will need to be added on demand, rather that at predetermined intervals, and blocksizes will need to be small. Coins willbe sold or purchased by the club, or can be transferred between members.

Now the problem will be to discover software that is capable of supporting this type of operation.

Offline JackG

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Re: The club crypto coin.
« Reply #1 on: November 22, 2018, 02:12:34 PM »
Why not mine? If there’s a software client that supports mining in the background of the machine then why not do it?

Offline Kuffy

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Re: The club crypto coin.
« Reply #2 on: November 22, 2018, 02:39:34 PM »
Mining would solve the block creation problem, but I can't see how you could distribute the coins. If a member buys $50 worth of coins, and those are used to buy Litecoin (say), then the wallet of that member should increase by the equivalent of $50. If a couple of members are mining, but not making payments for the club to purchase assets, then should they receive coins? Any coins awarded would dilute the holdings of the paying members.

Offline JackG

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Re: The club crypto coin.
« Reply #3 on: November 24, 2018, 10:38:59 PM »
This is under the idea miners are awarded for mining which doesn’t have to be the case at all

Wallet software can include a mining function and that can be used to mine the blocks instead, of 10 people have $50 they’re going to want to keep that $50? Unless you’re wanting to make a coin with public digital signatures.
« Last Edit: November 24, 2018, 10:42:12 PM by JackG »