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Author Topic: Proof Of Baghold concept  (Read 2181 times)

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Offline Raid

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Proof Of Baghold concept
« on: December 06, 2015, 03:52:40 PM »
Hey guys,

I saw this idea being implemented into another cryptocurrency and it seemed fancy :D

Pretty much there is monthly and weekly baghold bonuses for people who hold the coins, Like lets say you hold  10k gld youd get certain percentage of the weekly/monthly bagbonus if you hold 15k a bigger percentaje etc. I think it would be an excelent way to keep people from dumping gld and it would be atractive to new investors as well. Id Love to implement this to GLD it would make it more interesting :D

Any thoughts guys? If it gets somewhat aproved ill get into it sooo everything helps so just quote away!

-Raid
« Last Edit: December 06, 2015, 05:01:52 PM by Raid »
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Offline MicroGuy

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Re: Proof Of Baghold concept
« Reply #1 on: December 06, 2015, 06:20:24 PM »
I could see how this might work for a premined currency where a central authority holds a large number of coins.

But in the case of Goldcoin, all active team members purchased their coins on the open market. So there is no large reserve of coins set aside for these types of programs. In addition, the term 'bagholder' is derogatory and implies the investor is holding reluctantly.

In my view, people should do as they wish with their money. Those that dump/sell are providing valuable liquidity to the market, helping volume, and providing new investors a chance to come aboard.
"The heart of any cryptocurrency can be found in the spirit of its community."

Offline Raid

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Re: Proof Of Baghold concept
« Reply #2 on: December 06, 2015, 07:33:32 PM »
I could see how this might work for a premined currency where a central authority holds a large number of coins.

But in the case of Goldcoin, all active team members purchased their coins on the open market. So there is no large reserve of coins set aside for these types of programs. In addition, the term 'bagholder' is derogatory and implies the investor is holding reluctantly.

In my view, people should do as they wish with their money. Those that dump/sell are providing valuable liquidity to the market, helping volume, and providing new investors a chance to come aboard.

Cool Microguy, Thanks for the info! Well indeed people do what they want to with money, but it would be a viable way to create market growth Imo. Any other thoughts or ideas seeing into the future of GLD?
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Offline MicroGuy

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Re: Proof Of Baghold concept
« Reply #3 on: December 06, 2015, 08:14:33 PM »
I could see how this might work for a premined currency where a central authority holds a large number of coins.

But in the case of Goldcoin, all active team members purchased their coins on the open market. So there is no large reserve of coins set aside for these types of programs. In addition, the term 'bagholder' is derogatory and implies the investor is holding reluctantly.

In my view, people should do as they wish with their money. Those that dump/sell are providing valuable liquidity to the market, helping volume, and providing new investors a chance to come aboard.

Cool Microguy, Thanks for the info! Well indeed people do what they want to with money, but it would be a viable way to create market growth Imo. Any other thoughts or ideas seeing into the future of GLD?

Well, we probably have the most intelligent developers in all of crypto, so that helps a ton. In addition, we have the best name possible. The word 'Gold' is a tremendous intellectual property that means value to billions of people worldwide. The Open Workforce is growing rapidly and forum traffic/activity is at a 2-year high.

I think we just need better organization, greater dedication, and enhanced communication to better direct our increasing human resources. Leveraging the Open Workforce by means of efficient delegation of tasks seems like an area where we could improve.

We probably need to also develop a more structured hierarchy of management as the number of workforce participants grows. At the same time, we need to be sensitive to the needs of decentralization. So maybe we should think of the workforce as a sort of 'human sidechain.'
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Offline cryptosolar

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Re: Proof Of Baghold concept
« Reply #4 on: December 07, 2015, 07:28:56 AM »
First of all thx u Raid for Brainstorming on: how to make Goldcoin a bit better  :)
(more members should start Ideas and Brainstorming on Goldcoin like you, and simply write it down here , because Goldcoin is Open Source  :) )

- It is a nice idea to somekind implement a POS system, but Goldcoin is a POW Coin and the Open workforce is also a kind of POW  ;D

- I will give an example  :) : If someone got 300 k Goldcoins and Goldcoin gives out only a 1 %(3000 GLD)  on your holdings every month then you will get ~36000 GLD in the year for doing nothing.

- If we want to build up a new and better Currency, then Goldcoin should not pay a interest rate like all the FIAT Currencies and Banks, in the End the Rich ones get richer and i do not think this is necessary.

- I would agree to Micro Guy s thought : people should do as they wish with their money.

- I would love to see more people signing the GLD address  :) ( so i am thinking about to pay every member 500 GLD for signing the address with their Name like TestingCrypto and I did,)

- On Cryptopia for example you will get a little devoted dog Icon for holding 2 Million DOT, i like this idea, maybe we can also implement little Icons here on the gldtalk ?
(one for holding x Goldcoins , one for be a part of the workforce , one for be a member of the Foundation Membership , etc)

- The "Human Sidechain" sounds interesting  ;)

« Last Edit: December 07, 2015, 07:44:35 AM by cryptosolar »
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Offline Raid

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Re: Proof Of Baghold concept
« Reply #5 on: December 07, 2015, 11:10:08 PM »
First of all thx u Raid for Brainstorming on: how to make Goldcoin a bit better  :)
(more members should start Ideas and Brainstorming on Goldcoin like you, and simply write it down here , because Goldcoin is Open Source  :) )

- It is a nice idea to somekind implement a POS system, but Goldcoin is a POW Coin and the Open workforce is also a kind of POW  ;D

- I will give an example  :) : If someone got 300 k Goldcoins and Goldcoin gives out only a 1 %(3000 GLD)  on your holdings every month then you will get ~36000 GLD in the year for doing nothing.

- If we want to build up a new and better Currency, then Goldcoin should not pay a interest rate like all the FIAT Currencies and Banks, in the End the Rich ones get richer and i do not think this is necessary.

- I would agree to Micro Guy s thought : people should do as they wish with their money.

- I would love to see more people signing the GLD address  :) ( so i am thinking about to pay every member 500 GLD for signing the address with their Name like TestingCrypto and I did,)

- On Cryptopia for example you will get a little devoted dog Icon for holding 2 Million DOT, i like this idea, maybe we can also implement little Icons here on the gldtalk ?
(one for holding x Goldcoins , one for be a part of the workforce , one for be a member of the Foundation Membership , etc)

- The "Human Sidechain" sounds interesting  ;)


Thanks for answering, well i seriously believe this coin has a very very solid Foundation, and i also do agree with microguy about being more organized with the various tasks to be done, im very devoted to what i do and to be completely honest im very busy with real life work. I believe we should make some sort of database in order to keep all the tasks to be done, idk once again brainstorming. Please be sure to add on to my idea or express your thoughs.

-Raid
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Offline cryptosolar

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Re: Proof Of Baghold concept
« Reply #6 on: December 09, 2015, 07:54:13 PM »
We can use Trello and write the task into it and integrate it into slack to provide tasks which need to be done, then the workforce members can decide on slack what to do and who, for example  :)
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Offline Raid

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Re: Proof Of Baghold concept
« Reply #7 on: December 10, 2015, 04:23:00 AM »
We can use Trello and write the task into it and integrate it into slack to provide tasks which need to be done, then the workforce members can decide on slack what to do and who, for example  :)

Sick idea bro,  which would also bring more use to slack, which was one of the goals that microguy Wated to reach. The adress sign idea is great as well, ive also noticed that gld has alot of sell preasure thats why we should work on building buy walls, just another idea. This coin has some great potential, we need to add value to it so its more atractive. Guys please post ideas so we can discuss and share.

-Raid
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Offline cryptosolar

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Re: Proof Of Baghold concept
« Reply #8 on: December 10, 2015, 03:07:07 PM »
We can use Trello and write the task into it and integrate it into slack to provide tasks which need to be done, then the workforce members can decide on slack what to do and who, for example  :)

Sick idea bro,  which would also bring more use to slack, which was one of the goals that microguy Wated to reach. The adress sign idea is great as well, ive also noticed that gld has alot of sell preasure thats why we should work on building buy walls, just another idea. This coin has some great potential, we need to add value to it so its more atractive. Guys please post ideas so we can discuss and share.

-Raid


https://trello.com/b/ex1lWnZW/goldworkers

https://goldcoindevslackbeta.slack.com/

https://www.gldtalk.org/index.php?topic=3412.msg15276;topicseen#msg15276

 :)
GLD - The Gold Standard of Digital Currency - (Goldcoin.org)
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www.goldcoinpool.com / 1% fee // GLD E9gjbbzCMErqQ4cKGGEzaPNJBSszChhGyX