Author Topic: Indexcoin White Paper - Hello Bitshares  (Read 1456 times)

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Offline btcmacroecon

Indexcoin White Paper - Hello Bitshares
« on: March 06, 2015, 08:50:22 pm »
There is a reason I am here. I operate and I am trying to network with others to help bust Corporate Ameica up but can't do it all by my lonesome. i was referred to Bitshares and was told that Bitshares could be the place 'to breathe life" into my project indexcoin. I have a few aces up my sleeve. But here goes. My goal is to create a new cryptocurrency while creating REAL jobs, remote jobs, jobs in remote villages, and that means partnerships, ancillary businesses, and development, and with that being said, means to not go it alone, but with community support and interaction. I mean I suppose somebody could fight 2 hour traffic jams to get to the heart of the city if they so love it, i know there are people that thrive in the city, i just don't happen to be one to like the urban jungle. And i believe it's time to spread the job creation around and end the urban crawl and traffic jams and do away with the pathetic mentality of corporate America. So i come into this project in the right mindset :) The question is are you down? Are you ready? Are you ready? LET'S GET IT ON!

This is a project that is no longer going to be talked about, but it needs to be implemented and executed and that is why i am here. You haven't seen anything like it yet and that's why I want to move forward with this project immediately and I need some sponsorship before i get sucked into a city or 2 hour traffic jams. Can we work together to end this paradigm and slave system? I have considered a way to pay developers and investors back if that is desired, but that is different subject matter. i want to create jobs, REAL jobs, for others and myself so the intent would be to see to it that people are paid along the way, and this is why i would like to seek sponsors and that may also include PiZZARIAS & MICROBREWERIES!!! Think I am kidding?

Like any ideas or concepts, they must start from an idea and begin at a Stage 1.
I have an idea, or concept, and it’s in proof of concept stage, but the idea has merit.

I would like to establish a cryptocurrency, IndexCoin. This cryptocurrency is an index of cryptocurrencies by percentage of coins and I want to kick this off by establishing some coins to be indexed in the ultimate trading coin. I would genuinely like to find investors and developers over time to make this project a reality.

Since the coins are owned by the owners of IndexCoin, the blockchain technology will be utilized by the owners of IndexCoin and the blockchain technologies will be tied together so one coin has all the capabilities, a daunting task actually, yet conceivably possible.

This coin will bring value based on the trading aspect, but the value will be in the blockchain technologies that will be utilized with one coin.

I would like to find traction and work with others. The percentages of coin to be utilized can change over time and coins can be entered in or removed depending on valuations and developments, that is the beauty of an indexed cryptocurrency. But given the volatility of the market, this particular cryptocurrency stands to bring great value and market capital in time, if not in years. It would be great to develop such a coin with others and become a leader in the marketplace. Are you interested in this from a development or investment standpoint? The valuations and platform could be utilized to further fund development but would need strong management and integrity or there is no point in even discussing it further. With this comes the need for absolute security – and that takes know how and best practice. This is the ultimate in creating opportunity and I hope to create an opportunity for myself and many others with this stage 1 project. The first thing that needs to come from such a project is interest and traction but then project management would require investment and communication. But I can say that you have not heard of an indexed cryptocurrency and if you have, you heard about it via Bitcoin Macroeconomics.

I do have some wild cards for cryptocurrencies that could be added, but the coin is not developed yet, but that would be the nature in general, and I do believe this would take consensus and from board members essentially.

How would the allocations look (let alone how would the blockchain technology be tied together?)

Hypothetically and something to consider…

Bitcoin 20%
Darkcoin 20%
Hypercoin 10%
Namecoin 10%

This scenario brings us to 60% of the required 100% for an indexed coin. The remaining 40% would require other coins, consensus, and that may tie to ease and ability of tying those blockchain technologies into the IndexCoin. But this is where it could get interesting and it will.

If the other coins go up in value, IndexCoin would go up in value accordingly and based on allocation or percentage of coin to the index. Likewise, if Indexcoin where to go up in value, that could correlate to the valuation of the indexed coins, though that would remain to be seen.

This would bring rise to strong partnerships and innovation, but alliances should be formed nonetheless. Alliances should not be formed simply with cryptocoins or developers, but with other innovators and investors. Others would benefit from the technology and I would like to see if any exchanges,tip bot programs, and security or cold storages would be interested in forming an alliance and working towards developing IndexCoin and working at arriving at the percentages while looking at first rounds to invest in tying the blockchain technologies together.

This is the ultimate in grass roots job creation and innovation and these sorts of jobs should be able to be spread around the globe and not hoarded in some urban center controlled by elites.

If you are interested in forming an alliance, developing, or investing, contact me and let me know what you bring to the table and what stake you can bring in advancing this from a Stage 1 concept and into IndexCoin – the leading market cap trading cryptocurrency. I’d like to take things from hypothetical to Stage 2.

Indexcoin Calculations

So why not establish an index of cryptocurrency and track the valuations. For the purposes of doing so I will list 5 cryptocurrencies and am using Bittrex or the current prices. For ease, i am using 5 coins and 20% would be the mock percentage in the Indexcoin.
So for this purpose I am going to start with 1 Bitcoin as the basis point so 1 Bitcoin equals the current market value ($272.97 per Bitcoin). So 20% of the Index is going to be 1 Bitcoin and for starting reference point that $272.97 is the current market price, and that amount or valuation will be then translated into what $272.97 could buy in Darkcoin, etc…to come up with the equal 20% of the pie until the 100% total. For ease I am going to round off and not arrive at the exact prices of current market, but that will come in time.

I would like to see if there are any math majors looking for a cool college project/paper, or any Cryptocurrency enthusiasts to get involved in the start up of Indexcoin to prove this point and arrive at the metrics to tie into buy ins and sells at any given point in the market – ongoing. This is where the math comes in. This is where it starts to come together. Where it gets more complicated is the introduction of new cryptocurrencies and percentages into the index, and likewise, the deletion of cryptocurrencies from the index (over time) as required. Where it gets more complicated yet still….is the creation of multiple indexes ….on down the line … each standing as their own cryptocurrency and how to take this “index’ and calculate it into 1 value or stand alone cryptocurrency for introduction into the exchanges.

So if you are interested in an idea for a college paper or project or want to join in this project, this is where it’s going down….right here. This will get done, but will take some math to make it work, but it is not a complicated process, as this is just an index, but in doing so creates a new cryptocurrency based on existing cryptocurrencies.

***Note also not calculated in but must be considered are fees for in and out buying and selling of the “indexed coins” on an ongoing basis which needs to be arrived at as per the exchange where this is going to be bought at…and that right there is why I need to partner with an exchange. This is how an ancillary business and a new job opportunity meet. And that is part of this project is partnership and job creation, hopefully in remote locations far away from the Urban Crawl and traffic jams….because that is what technology should do unless people absolutely love living in the city or driving in traffic jams for a living. And then there are many other side projects to consider from there, but let’s keep it to a basic index at this point. Hit me up if interested and you can take not only get involved with Indexcoin at a very early stage, but you can also have a college project to work on.

1 Bitcoin Current price:$274.05
88 Darkoin 0.01246235
2,000,000 Doge 0.00000051
23,000 Vericoin 0.00004914
15,750 Blackcoin 0.00006379

This is by no means what Indexcoin is going to be but merely an example to demonstrate how the Indexcoin will be comprised. Obviously if someone wanted to buy in with $10, they would get the fraction of the above index, for all concerned purposes. It just takes a little math calculation.

The next step would be to simply track this index, in terms of (Bitcoin) and the USD, but that is the starting point. Any one of these coins could be removed and likewise other cryptocurrencies can be added in, it’s just who makes that call? The community voting or a “board”? Most people would distrust a “board” in the world of cryptocurrencies, but that all needs to be decided or the index could be built and that’s it. And then another index could be built, all Indexcoins, all stand alone cryptocurrencies, all with the ability to trade, and where it gets interesting is the ability to utilize the blockchain technologies since ownership is in the coins. For example Darksend feature or ability to pay with Indexcoin wherever Bitcoin is accepted through Veribit (Vericoin), but all that would take work and cooperation. I don’t know that is going to be that easy, so for the purpose of this demonstration, let us just arrive at the “Index”.

Now imagine the Top 100 market cap coins in one index, or Top 500, and if one drops out, it is replaced automatically. Or imagine a top 20. Or imagine the index where the select blockchain technologies get added, or the fact that community could vote for the index…this is what’s coming for the future with Indexcoin….and in time you will see Indexcoins. Better get ready.

Bitshares community, is this anything that you would be interested in being a part of and how could Bitshares "breathe" life into this project?

« Last Edit: March 07, 2015, 03:58:44 am by btcmacroecon »

Offline btcmacroecon

Re: Indexcoin White Paper - Hello Bitshares
« Reply #1 on: March 06, 2015, 09:10:45 pm »
Could Bitshares be an indexed coin in the Indexcoin?
Is there a leg up in this arrangement and partnership scenario? Would this add value to Bitshares and to the investors of Indexcoin and to the indexed coins respectfully?
The goal is to create the ultimate win win. That's what I do and strive for in life.

Offline onceuponatime

Re: Indexcoin White Paper - Hello Bitshares
« Reply #2 on: March 06, 2015, 09:12:18 pm »
You need to spend some time developing a business plan and proposal to present to us here. Asking us what we can do to implement your vision is a little premature.

You might want to start off by learning something about bitshares so you could propose how a relationship with us would be mutually beneficial.

Offline btcmacroecon

Re: Indexcoin White Paper - Hello Bitshares
« Reply #3 on: March 06, 2015, 09:20:16 pm »
I thought it was a forum not a proposal  :)
This isn't shark tank

Offline JA

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Re: Indexcoin White Paper - Hello Bitshares
« Reply #4 on: March 06, 2015, 09:24:05 pm »
I thought it was a forum not a proposal  :)
This isn't shark tank
yes it is  :D

Offline Ander

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Re: Indexcoin White Paper - Hello Bitshares
« Reply #5 on: March 06, 2015, 09:27:12 pm »
Hello, and welcome to Bitshares!

It seems to me that your main goal is to create an index of cryptocurrencies, in the way that there are index funds of stocks.  This is a great goal and would allow people to diversify their holdings easily.

In performing this, there are several challenges you need to handle:
1) In order to issue your 'indexcoin', and have it have value, indexcoin needs to be redeemable for its value in the items that it is meant to track.  That is, one cannot just create a coin and claim "it is always worth $X, where X is the price of these coins here".  If the coin cannot be redeemed in some way for the equivalent value of what it is meant to track, it wont work.  (See the whole Paycoin fiasco!  Just because they said Paycoin would be worth $20 didnt make it happen).

2) You need to solve the issue of centralized trust.  That is, whatever entity acts as  central trusted agent who holds all these coins and redeems indexcoin for them is a point of failure.  It is a trusted centralized entity, and it can be goxxed, or steal the coins, or whatever.  Therefore, you need to hold the value which backs up your indexcoin ins a decentralized, trust free way.

Whoever directed you to Bitshares was correct, Bitshares has the capability to solve both of your problems!

Here is what you would do:

1) Get your indexcoin (lets call it bitIndex) listed as a market asset in Bitshares.  Now, in the way that we use bitshares to trade bitUSD, bitGold, etc, we can now also trade your bitIndex tokens. 

2) Get Bitshares delegates to provide feeds for the value of a 'bitIndex'.  This would essentially by a summation of the values of many different altcoins which you wish to track.

Once these things are accomplished, your indexcoin (bitIndex) will exist in the bitshares decentralized exchange, and will be tradeable.

What is it backed by?  It is backed by BTS (bitshares).  In the same way that Bitsahres backs the value of its bitGold and bitUSD, it backs your new bitIndex coins.  What happens if the value of bitIndex goes up a lot?  People who have them are able to trade them for more BTS than before.  What happens if the value of your bitIndex changes by TOO much, and the system doesnt have enough collateral to 'back' your asset?  In that case, the blockchain issues automatic margin calls and unwinds the trades.  It provides holder of the asset the correct amount of value at that time. 

How is the centralized trust problem solved?  It is solved because the Bitshares blockchain enforces everything.  There is no trusted central party, there is a decentralized network providing the trust to your system. | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline btcmacroecon

Re: Indexcoin White Paper - Hello Bitshares
« Reply #6 on: March 06, 2015, 09:49:52 pm »
Yes agreed. This is why I wanted to have this conversation, in a non shark tank fashion.  8)

Trust is a major factor and why i could not be trusted in this regard, jk. i pull no punches.

It is such an arrangement and 'partnership' that I am seeking to strengthen value, and you bring up several valid points, details that must be discussed, as shorting is always a possibility. Adding coins and removing coins from the index is also a concern, and i don't think timing the market would work in a managed sense, but rather buying in at the market rate. in doing some brief research on Bitshares, and fathoming it, versus high frequency trading (etc) that protection is worth the discussion. i'm serious in that i want this to work.

i agree that nobody wants to be Goxed and that is why i have addressed and stated for the record that security would HAVE to be first and foremost ....and that is where other people come in....because there are people way smarter than me.

I want to create opportunity for others and myself and want to support development of the best blockchain technology and the coins that have community galore, but face it there are many possible index possibilities, far beyond one. It's just how to arrive at that mathematically and in an operation that makes sense. But that is why I wanted to seek out other people and work with other people.

i was laid off from a job recently and want some basics in life, healthcare being a concern with a medical issue i was born with, so don't expect to get rich quick or anything, just simply execute what I know to be a damn good idea, one that has a lot of possibility in the short term and long haul, and I am in it for the long haul. I just cannot do it alone, and in so doing, want to see to it that people can get paid along the way.

Face it, exchanges get "commissions" in and out. To provide that vehicle could potentially create that scenario, though needs to be discussed, for right or wrong, indifferent, or ethical purposes. We all got bills to pay and again, that's exchanges take their cut.

I'm certainly open to ideas and know there are a couple of very cool technologies right around the corner that could enter into this scenario and add value (or be indexed).

This indexcoin (and you are spot on when you determine a centralization because there is no staking etc but only proof that could arise from a blockchain) but nobody wants someone to take the money and run or disgrace cryptocurrency in general, there is enough of that every single day, so agreed. But Indexcoin can and will be traded on multiple exchanges and will be a stand alone cryptocurrency. The question comes, can blockchain technologies and capabilities of these coins - if not all, work together and be implemented, i believe feasibly possible, though again, i am not that smart  :)

i agree with what you are saying and appreciate that input. That's why i am here, to not talk about it, but to bring the best value to Indexcoin and in so doing to the indexed coins as a whole.

I'm down for more of this discussion and i want to make something work given this god damn lay off, but again, trying to create the ultimate win win while i can.

Thanks so much for your feedback and i look forward to learning more about Bitshares and where this could go with positive feedback. For sake of creating the first Indexcoin there will be multiple, would it be possible to begin devising 5 to 10 to launch this coin?

Are there any sponsors out there that want to join in the frenzy? That goes for any business that will accept Indexcoin  :o

Offline Samupaha

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Re: Indexcoin White Paper - Hello Bitshares
« Reply #7 on: March 07, 2015, 08:13:49 am »
I wonder if bitshares is really for you.

If you create indexcoin to bitshares exchange, you should have some incentives for people to start using it. In bitshares there are many other assets that would be competing with indexcoin – so what is the advantage of indexcoin compared to others?

If your most important goal is to create jobs and businesses, why not focus on a project like OpenBazaar? One really interesting area of development would be usage of market pegged assets in OB.

Offline btcmacroecon

Re: Indexcoin White Paper - Hello Bitshares
« Reply #8 on: March 07, 2015, 04:17:03 pm »
Competition is a good thing. Just look at America that lost the competitive edge to corruption.

I don't know if Bitshares is for me, I was referred here. Thought i would check it out....see if i can garnish interest and support and strive for common goals rather than go it alone, as I gain traction....with a few others in a coalescing affect. Maybe it will be like oil to water?

Advantage is one coin to indemnify from volatility and mood swings of any given coin.
What is the advantage of the S&P 500 versus a stand alone stock like GE? Think Americans are smart enough investors in the rigged game? Is diversity a good thing or is putting all your eggs in one basket? What about investment strategy of Berkshire Hathway portfolio versus just one, say BNSF?

Then there is the Jim Rogers RJA AG index (RJA) which is an ETN not an exchange traded fund. Would it not be better to own an index of AG commodities, corn, cotton, soy, beef, lean hogs, etc.....versus owning just corn? The market decides, index goes up you win. Goes down, you lose?

How about precious metals, an index of precious metals versus owning just silver, which was manipulated down?

It's just an option, not saying it is better than any given coin, in fact, it supports those indexed coins. And that is the uniqueness when introduced to cryptocurrency as it is not seen yet, but it will, and I'm presenting the bait. Throw the chum in the water, fish will show up, and so will bigger fish....

Job creation is a valiant effort, compare that to the Federal Reserve and the underemployment model as they LIE to the world and say the job numbers are great, best in years, when in reality it's a BOLD FACED LIE going into election cycles, and to be honest, I'm not holding my breath, it's time for the paradigm change and technology, cryptocurrency, and job creation will come, and that's an economic factor that introduction of new things and innovation brings, in this case Indexcoin.

It's an option. And when there are more than 20 or 200 options or indexes, each stand alone cryptocurrencies (each index) then look back and ask yourself how many jobs were created merely from this idea and investment strategy.

Of course we can just scrap the idea and go along with Hillary and open and transparent government because they show such leadership. We can just go along to go along.

Or we can rock it to them ....with everything we got.

Offline btcmacroecon

Re: Indexcoin White Paper - Hello Bitshares
« Reply #9 on: March 07, 2015, 04:30:09 pm »
"If your most important goal is to create jobs and businesses, why not focus on a project like OpenBazaar? One really interesting area of development would be usage of market pegged assets in OB."

i'll check out Open Bazaar as I am keeping an open mind and want to go down the path and open some doors, for myself included, perhaps an escape route or an exit strategy.

Other incentive is value, and a hedge bet with kickass technology. But add in the possibility of adding various blockchain technologies all in one coin, that's incentive enough.....the other incentive is the influx as time goes by and adoption sets in giving a vehicle to an index of cryptocurrency for all of the aforementioned, and various new cryptocurrencies as stand alone (index) coin, all with huge implications and market cap potential.

incentives is a great idea on top of a stand alone index however, like could shares be added to indexcoin to drive traffic and investment? All while giving support and value to the indexed coins? By percentage? Could trades and commissions be utilized to incentivize? Could a rewards program be implemented to this Indexcoin? You bet. And yo know what you get when you do just that? You get a new partnership, job creation, loyalty, and the cryptoeconomy branches out and the roots set in.

But I will research Bitshares a bit more and Open Bazaar.

i'd like to get some sponsorships going to make this work. I can't do this alone. But I am at the table. And I have taken my shoe off and pounded on the table.


Offline lil_jay890

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Re: Indexcoin White Paper - Hello Bitshares
« Reply #10 on: March 07, 2015, 04:48:21 pm »
What happens to index coin when bitcoin falls to 3rd or 4th in market cap? Will there be a rebalancing of the coin based on the highest valued coin (which will be BTS soon btw)?  Also I don't understand how this creates jobs and eliminates traffic jams...

Offline Samupaha

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Re: Indexcoin White Paper - Hello Bitshares
« Reply #11 on: March 07, 2015, 04:53:29 pm »
The problem of indexcoin with BitShares is that there will be also other portfolios. It is hard for me to see a reason to buy indexcoin if I can buy S&P500-MPA or a portfolio of ten most valuable metals.

But I guess it might be possible to find a niche market for people who think that there will be a handful of cryptocurrencies that are going to be succesful. Maybe those guys would be interested in indexcoin. But I'm guessing that's not a very big market.

If you want to change the world, go and spread the word about BitShares. It is a tool that can be used in a different ways to empower people and help them to break the chains. It can do so much more than just a portfoliocoin.

Offline btcmacroecon

Re: Indexcoin White Paper - Hello Bitshares
« Reply #12 on: March 07, 2015, 05:41:19 pm »
you guys are playing with the master of devil's advocacy  ;D

ancillary jobs in remote areas, or cities that need the development will draw the jobs, and keep them from going to some urban slave center where people walk around a concrete jungle on their weekend and tie dog shit around their dogs neck.

Jobs don't need to go to the heart of San Fran or NYC, rather there is talent all over, and T shirt and Baseball hat makers, to businesses that accept cryptocurrency to developers that can work remotely and eliminate the need for HR departments that are a detriment to society, all in some slave center. But if people just love the city, let them be, people got bills to pay and mouths to feed.

If you don't understand how indexcoin would work, ask yourself how 899 cryptocurrencies will work.....some will fail. You never know until you try.

I say it's time to bring Indexcoin to market. Looking for sponsors, and i don't care if it's Ben's Truck Tires or Gino's Pizza. It's time to get to work. Microbreweries....we need beer for this project.  We need sponsorship like Corn Nuts is to the Octogon. And it all creates jobs, and special events. Indexcoin could sponsor MMA events and mixed martial artists could get paid in Indexcoin. Now this all might be a stretch, but you asked  ::) I'm just happy to have the discussion cause this Indexcoin is coming to town and to roost. And it's coming like the Schlitz Malt Liquor Bull. Think I am kidding?

Offline btcmacroecon

Re: Indexcoin White Paper - Hello Bitshares
« Reply #13 on: March 07, 2015, 06:03:24 pm »
Lil what happens when Bitcoin dips to 3 or 4? That's hypothetical but always possible.
At least an index protects investors given the value of the overall coin, so it aids in the ramification or loss of the mood swing. I own an AG index and the commodity prices got hammered over the last 2 years. I lost, so that is the commodities market. But Jim Rogers is one of the smartest and most successful investors in the world. He has other indexes, including raw materials, etc. Diversification is where it is at. Jim Rogers actually got back to me on Indexcoin. He said he didn't know enough about it or cryptocurrency! But at least he got back to me.
So if Bitcoin dipped, perhaps with good picks like Darkcoin, Namecoin, Alexandria, etc....when people realize the actual technology and what they can do for humanity, perhaps they bring value to the class, while one coin (say 20% of the Index) Bitcoin drops 50%, it's all relative to the index and the prices.
LIke I said, the AG index (RJA) for agricultural commodities went down. Good time to buy RJA is right now, like buying a precious metals index is a good time to buy now. But that is all subject to speculation and market forces, and as seen manipulation and criminality. But i hope you get the answer i am giving. I mean there is always FlappyBird Coin.....

It's just time to create the index classes of Indexcoins. This could morph into something big or could fall hard as a rock, could create no jobs other than me running my lips for a loss. But i do believe this could bring an entire trading floor in due time, if not several trading floors worldwide, and they don't have to be in New York City or the City of London or some other Police State.

Do you hear me?

It's time to change the game. Let's not get into semantics but if you care to play devil's advocate some more, I'll play along to an extent before I move right along if i can find my way out....

I just watched and posted an introduction to Bitshares on so it sounds like there is a concept of commissions & fees, a bit about derivatives, and from my gathering a futures market? Is that fair to say?

Indexcoin is related, though it's a stand alone cryptocurrency but commissions and fees and likewise, shares and loyalty rewards could be a part of it, though maybe this is a whole new ball game versus the model of Bitshares, which is not for everybody.

Most people couldn't tell you how the futures market works, say for blueberries and yogurt manufacturing. But again, I was referred here and want to gauge if there is any interest or any way to get to work on it, promote it, make money and take care of some things but arguing with people in IRC or forums really becomes a waste of time and I'll soon be back to talking to some developers that expressed an interest but are swamped with projects.
My mission is to bring people together and create the opportunity. Why would anybody want to discourage that? Why would I even begin to listen to it? That's why I am moving forward and why i am here.
And if this community is not interested, perhaps you could steer me to the right people to try again, as someone brought up Open Bazaar which is the next thing to look into.

Offline cass

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Re: Indexcoin White Paper - Hello Bitshares
« Reply #14 on: March 07, 2015, 07:19:02 pm »
Welcome btcmacroecon

pls use this post here for your proposals etc.!
You posted into marketing section etc. …
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