New cryptocurrency - GoldReserve [XGR]Launch: June 07, 2014 20:00 GMT+2
GoldReserve is the next step cryptocurrency! I created this coin, because there are not one altcoin existing which gives people the feeling that it will give a steady growth and if things goes sideways, and coins can be easily liquidated at any time without a huge loss. GoldReserve gives you all of that! The Stabilizer Fund - collected during the POW phase - will be converted into GOLD! (Yes, the precious metal!) This will serve as the backup of the coin. With this Fund I will be able to buy back DIRECTLY each and every existing GoldReserve coins!How does it work?
Its simple. There is a premine (yes, it's because of the nature of this coin! Read on), which will be sold, slowly, bit by bit during the POW phase. The BTC collected on a publicly known address will be divided to 4 parts: 80-10-5-5 %.
80% will go to the Stabilizer Fund, which will be directly converted to GOLD, and of course it will be on a publicly announced account, and everybody could check 24/7, how much GOLD is on it!
10% will go to the dev directly (I think of it as a salary, and a fund to upgrade the coin from time to time),
5% will go to Charity (Cancer Foundations, Animal shelters, Homeless shelters, there will be a vote to choose which one)
5% will go to a development fund, it will be used for future improvement like anonimity (its not in it yet), merchant acceptance, etc.
There also will be a DONATION account, both XGR and BTC, everyone welcome to send a donation, if you benefited from this coin in any way! The DONATION will be divided as the premine!Why I choose this method?
I think all of the scams we experienced recently, are because the individuals who launched the hundreds of altcoins forgot one thing. How they will get a steady income out of their own coin? As they realized they can not have it directly from mining or trading then they did not have any other choise but to trick the money out of your pockets. I created this coin to be prosper for a long time. For reaching this goal, I have to put time and money in this project, but everyone will have the benefits of my hard work! For my work I think I deserve a percent of the profit you make with my coin. Straight and simple.Milestone I
Approximately 2-3 weeks after launch, premine will be sold entirely. The BTC amount will be divided as mentioned before. The First set of Gold will be bought, Gold account will be revealed. Milestone II
After POW phase over, price will fluctuate then settle at a certain level. Hopefully, the community will donate a few percentage of their gain on GoldReserve, making it possible to buy more and more Gold with that Fund. Minimum price will grow, which stimulate the price to go higher and higher.Milestone III
To became a worldwide known cryptocurrency, GoldReserve should have an Exchange where GRE can trade against the 3 largest FIAT, USD, EUR, CNY (Chinese Yuan).Block Explorerhttp://gre.blockexplorer.cc/Poolshttp://new.hashharder.com/x11/goldreservehttp://gold.minerpools.com/http://gre.hashlink.eu/http://gre.pool.mn/
[b]Windows Wallethttp://www.mediafire.com/download/ljgapwl6...dReserve-qt.exeLinux Wallet
Source: https://github.com/Mesterlovesz74/GoldReserveMac Wallet http://www.mediafire.com/download/icpgybux...dReserve-Qt.dmgSocialTwitter: @GoldReserveCoinwww.facebook.com/GoldReserve
- algo: X11
- Max. coins: 40.000.000
- Block time: 110 sec
- Coin maturity 30 blocks
- difficulty retarget: after 10 blocks
- min coin age 24 hrs
- Coin age maturity 10 days
- block rewards:
till block 100 100 coins
till block 500 300 coins
till block 10,000 600 coins
till block 50,000 300 coins
till block 100,000 100 coinsPOW phase till block 100,000
POS interest 10% annually. POS starts at first block!
Premine: 10% (4million)
IPO 1: 500,000 coins
IPO 2: 100,000 coins
IPO 3: 100,000 coins
Developer funds: 100,000 coins
IPO should not be sold within 5 days or till daily volume of the exchange is more then that!
Premine wallet: GKYjhVaQFyXmQmvTnPJBp3G4imdLjTLUQh
IPO1 wallet: GMCA4KpVbRLBYJzTPHWGxgyQTCkeBQqPfi
IPO2 wallet: GeHLq23RxjTLLeLJDK7HX3MvGTkuQwyzHr
IPO3 wallet: GedqbJSeTi4afZmRxkP7RKUSd2tbQX6UhiMining Info:
You must use sph-sgminer with darkcoin or X11mod kernel.
Other English thread: https://cryptocointalk.com/topic/12290-gold...nd/#entry102070Website:http://goldreservecoin.com/index.html