Author Topic: Indexcoin White Paper - Hello Bitshares  (Read 5824 times)

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Offline btcmacroecon

no just seeking partners and job creation.....your looking at this wrong. This is an index. Partners in business and ancilllary businesses will benefit.
The existing Corporate America (the real world) offers the Shark Tank model. I don't want any part of that.
I'm seeking something different and that's what cryptocurrency should and will do.
I'm not begging anybody for anything. But in order to make some of this work takes talent, and nothing is free. Building an index to become a delegate doesn't sound like a very good trade off.
Business should be profitable and there is a way to generate autopay. Nobody should work for free. Leave that to Corporate America and their internships. Seems like such a great business model.

Offline klosure

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So is there an Angel Investor or a company that will put me to work on this project? [...] People get paid for working all the time, I don't think that seeking VC is too far out of line with this project to do it right and not on a shoestring budget. I get that.
Create the bitAsset, market it, grow it, then if it holds its promises and we see value in your work you may be voted in as a delegate. Who knows you could even raise funds directly. But first things first: nobody is going to hand you cash because you are writting pretty walls of text in this forum. Investors want results: if you are an achiever you should be able to start producing results before getting funding.

Offline Myshadow

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Sucks about the job dude, I hate to be the one to say this but you're not going to make money out of being a middleman for a crypto based index and no investor with half a brain is going to give you money to create another altcoin that tracks an asset based off price feeds... Especially when what you describe is exactly what Bitshares does already.

Bitwolf is right. Get a proposal for the index together that includes how the index would adjust the basket of assets over time, then run yourself a delegate and suss out whats required to the other delegates to publish your index feed, there may well be big BTS holders that would find value in a BTS backed crypto-index. Thats your ticket to not commuting for 2 hours ;)
« Last Edit: March 10, 2015, 02:46:03 am by Myshadow »

Offline btcmacroecon

Theoretical and Klosure, thanks for comments. I woke up with a new drive for this indexcoin project, I must not have tried hard enough last week.
Political....yes that could be a perception and the FUD......But to start off with the first Indexcoin, consider it the Original Coke....well, it could be devised but there has to be room for kicking out coins for various reasons, ethics, scam, etc, but yah that's big potential for politics, but that's why there COULD be built in voting capabilities because we all can see what dictatorship does and the corruption it brings. We already have seen that model and will see it in 2016 and beyond. We just need value to the coin and create the index, but it could be managed index by developers, I'd like to consider BTC, DRK, Namecoin, (new one Alexandria) while others may arrive at consensus for Indexcoin number 1. I hear ya, that's why i want to hold that conversation and involve others in the decision making process, all of which is time. Time is money. And for that it's time to get to work and pay people for these decisions and create opportunity and value via Indexcoin.

The key is gaining partners for sponsorship with the coin and incorporate alliances. I'm serious when I want to include microbreweries and Pizzerias if they accept Bitcoin, crypto, and that includes Indexcoin. Brand awareness is what is needed, plus beer and pizza is needed for working hard!

I am trying to bring people together to not butt heads, but to work together. It's like this, comes a point where you need boots on the ground but not too many that they are in the way. i want to avoid office politics and coin politics, but simply want to build the vehicle and the value will come from Indexcoin and once built that model can then be used for 200 indexes, and then it can get interesting with voting, and all that.
These are full time jobs already. I'd like to find sponsors for kicking this off to pay us and those intersted in building this and tying it in.

If we don't someone else will and again will just claim it and it will just be a copy cat. Either way it's going to take some time, and time is money, and talent. I say partnerships and sponsors and economic development is as key as open and transparency. Not to say that the coin could not have Darksend capabiltiies.....iff DRK was in the index....but that's to be debated.

Just to think outside the box, i saw on Startjoin someone out of NZ I believe kicking off a platform for debating....one on one, or voting, etc....a coin index could be voted on via that sort of platform and people are involved on the merits, etc, and that is but one way to arrive at a new index.....open debate / topic, etc.....with parameters like X amount of people participated, voted, etc.....just an idea....

I started crunching the numbers and it's not as hard as i had thought, but arriving at the 'equations" is where I could use some help and how to tie that into I would say blockchain, as a stand alone cryptocurrency.

I also have thought of a way to create "commissions" for autopay back to developers and investors for ROI, but that needs to be discussed, and not sure if it would work, but face it the exchanges makes % in and out, This coin is performing a function of the index and by % there could be a way to bring an autopay system in for immediate pay back, something that cannot be taken away because it goes to an address and people are rewarded. Each Indexcoin could be an exchange within an exchange....not to get too elaborate, but just an idea, and if people buy or sell, % comes back and that also includes for investors so they would fund the project. This may not work and others may see that as distraction versus the market rate, but I am just saying as a way to pay people and give back to investors rather than saying help us build a coin and you will be doing something great for the community. Has to be a built in incentive and that can be done is all I am saying, all subject to discussion.

But I do want to immediately get to work on this and find some sponsorships to start building it. I know of a few that are intested and have a few aces up my sleeve. Or I'd like to go to work for a company and build this project from there and with the same ideas. Either way I am looking to get to work on the project and again after a layoff need to make something happen sooner rather than later.

I'd appreciate the help either way. But I don't want to just talk about it and waste time. i want to move on this ASAP. I don't know if Bitshares is the way to go in this regard, don't know enough about Bitshares and this scenario of Indexcoin. But if there is any ability to partner with Bitshares and it makes sense, or create a division and partner, i'm open to building those alliances.

Worst thing that could happen is this coin gets delisted. But I don't see that happening. i see big things with this, and that includes job creation and working with sponsors and promotions. Not talking overly commercialization like Woodstock in 1999. But I am saying give a vehicle for promotions and product introductions by remembering who supported the project and that means for life of the coin. Not only should the coin bring value to investors and the other coins in the index, but it should bring loyalty, but I agree keep the politics out or it's just as corrupt as what we see before our very eyes every day.

So is there an Angel Investor or a company that will put me to work on this project? That's the question. Then comes down to what other job creation can come of this? How to arrive at a team? Leadership is needed, talent, developers, partners, etc. But I'd like to be involved and not get aced out or deal with control freaks, and vice versa. We all got bills and mouths to feed. i am motivated by a healthcare issue. People get paid for working all the time, I don't think that seeking VC is too far out of line with this project to do it right and not on a shoestring budget. I get that.

Offline klosure

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Bitshares community, is this anything that you would be interested in being a part of and how could Bitshares "breathe" life into this project?
Sounds feasible with a market pegged asset, which would be pegged to the spot of your index.

Offline theoretical

Sounds like OP is asking for a new market pegged asset with feed price equal to a basket of various cryptocurrencies.

BitShares can indeed support this use case if delegates are willing to create a feed.

Presumably the percentages of the various altcoins used in the feed's computation will change as altcoins come and go.  There needs to be a well specified process for initially choosing these percentages and adjusting them over time.  And that's where things get political.
BTS- theoretical / PTS- PZxpdC8RqWsdU3pVJeobZY7JFKVPfNpy5z / BTC- 1NfGejohzoVGffAD1CnCRgo9vApjCU2viY / the delegate formerly known as drltc / Nothing said on these forums is intended to be legally binding / All opinions are my own unless otherwise noted / Take action due to my posts at your own risk

Offline Samupaha

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you guys are playing with the master of devil's advocacy  ;D
Sorry, I'm just a noobie myself too, so I'm using your thread to try to understand for what BitShares is good and for what it's not.  :P

Offline btcmacroecon

in the next few months there may be many, but at least i drafted this along time ago. The rest will be copy cats.

Offline btcmacroecon

Let them. I'll create Indexcoin, with others. And i'll create an opportunity for myself and others, and with the concept of Indexcoin it will in fact be a stand alone cryptocurrency. And the proof will be in the value. And then on to the next index (another stand alone cryptocurrency). 

Offline btswolf

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.
IMHO this is the only reasonable solution.
No need to start another Blockchain/Altcoin for an simple index.
I believe in the upcoming months many index assets will be created.

Offline btcmacroecon

sorry I saw "Grassroots" thought this was grassroots, so went over there.

Offline cass

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Welcome btcmacroecon

pls use this post here for your proposals etc.!
You posted into marketing section etc. …
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Offline btcmacroecon

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 www.bitcoinmacroeconomics.com 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 btcmacroecon

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 Samupaha

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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.