Rand Paul Coin?

[jct74]

it's coming....

"Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”
~Ayn Rand~





Announcing the Rand Paul Coin (Deflationary) ! RPCD ! No "mining algorithm" only the consensus algorithm of DPOS! (Delegated Proof of Stake - The magic that lets such a thing happen!)

Note - The launch date will be the 20th at the earliest and likely the day after the official launch of BTS. This is because this coin will be a direct fork of BTS once it is released. For those of you who are not aware, BTS will be the new combined DAC that was BTSX.

Rand Paul Coin is the natural progression from Ron Paul Coin, the first blockchain-based alt-currency for the Libertarian movement and all others against the Federal Reserve System and Fraction Reserve Banking. Ron Paul himself announced that crypto-currencies are as legitimate as the US Dollar https://www.youtube.com/watch?v=B9bOgydFEic. In appreciation for his support of the crypto world, we are now carrying the torch to light the way for his son Rand to have his own next generation coin. But as we honor the son and his loyal constituents, we would be remiss to not do the same for the father! As such, we will be share-dropping 80% of all Rand Paul Coins onto the loyal holders of Ron Paul Coin!

Rand Paul Coin is meant to make a political statement while support alternative currencies and technology. So it only makes sense that we should choose a 2.0 technology that gives its shareholders the power over their network. Due to the innovative features introduced by DPOS, we have chosen to make Rand Paul Coin a fork of BitSharesX (BTSX). Only unlike BTSX—Rand Paul Coin will be Deflationary (RPCD)! That is right! Purely Deflationary! As a deflationary currency, it will gain all the advantages offered by the innovations of Delegated Proof of Stake (DPOS), but will never inflate the money supply!

It is recommended that you read the original Ron Paul Coin announcement and reflect upon its meaning. It can be found here: https://bitcointalk.org/index.php?topic=389070.0 . The Ron Paul Coin site can be found at http://www.ronpaulcoin.com . You might wish to think of RPCD as RPC v 3.0.

Being a fork of Bitshares our main ANN thread will be found here: https://bitcointalk.org/index.php?topic=848182.0

As per the BitShares community consensus, we will initialize the Genesis block with 10% AGS, 10% PTS — and as stated earlier, 80% for owners of Ron Paul Coin. The 20% total not given to RPC is meant in order to follow the social consensus as originally put forth by those who made this innovation possible via the Bitshares Toolkit. PTS and AGS deserve to be honored because of the work of Daniel Larimer and team and the fact that RPCD is meant to be honorable and to live through the ages. For this to happen Rand Paul Coin needs the following of the visionaries who made it possible. All of the tokens being sharedropped onto were distributed originally by POW mining and further trading. The AGS/PTS snapshot will be taken from those snapshots created on November 5th. The sharedrop to RPC will occur on the 20th of November. For more information on what a sharedrop is visit http://bitshares.org/bitshares-airdrop-theory . The supply of RPCD will be 1,000,000 to help maintan a higher value per coin, much like the original RPC.


For RPCD there will be no pre-mine. There will be no hidden accounts. The genesis block creation block will be fully auditable with the procedure to replicate and verify documented on GitHub.

Why is this being done?

This is being done to forward the ideals and goals of the Libertarian Movement.
This is being done to honor Ron Paul's son and his message of Liberty with a coin of his own.
This is being done in hopes of building a platform for donations.
This is being done in hopes of becoming the first Decentralized Autonomous Entity to make a direct political contribution.
This is being done to provide a currency where the natural right to privacy is honored in transactions between people.
This is being done to help further the understanding of Delegated Proof of Stake and what the Bitshares system provides.
This is being done to further Liberty and Prosperity with the tenets of Austrian Economics.

What will not be done is to give promises that can not and will not be possible to fulfill.

Initially RPCD will be an almost identical fork of what is BitShares X. This will be done to maintain the functionality and power given by existing bitshares_toolkit. Currently Bitshares X (BTSX) is undergoing a rebranding into Bitshares with the introduction of inflation to help their business expand via capital like a regular stock issuing corporation.

RPCD will be different. It was designed to be a sovereign currency that is guaranteed to never switch to inflation. Everything will be paid for by transaction fees which may be slightly increased to maintain the health of the network.


Features -
• Transact Invisibly To Any Name (TITAN)
• 20 Second Transaction Times
• Enterprise Scalability up to 10,000 transactions per second (tps)
• Delegated Proof of Stake (DPOS) – shareholders—not miners—control the network
• Deflation of supply increases the value of each circulated coin!
• Market Pegged Assets – Allows users to have assets whose value is pegged to external real world commodities and currencies.

Deflationary! No more Proof of Work (POW) means no more wasting excess shareholder funds to secure the network. We will have 13 delegates to maintain a profitability level for all the block-signers. 1 initial delegate for each of the original colonies which broke away from the British Empire over ridiculous policies of taxation. This will also help block-signers have a profitable position.

Store your wealth in Crypto-Gold and Crypto-Silver! These are not user-issued assets or IOUs that require trust of those issuing them. This is a self-reinforcing market pegging mechanism that brings these assets into existence with collateral and keeps them stable. Allowing order options including shorting and going long. You can now put your crypto investment in stable assets that are fully backed by RPCD itself.

Example – To create an Ounce of crypto-Silver, it means that twice the value of the spot price of Silver are required in RPCD if the Silver is being shorted. These RPCDs are taken off the market and tied up as long as the Silver is in existence. Crypto-USD could be added, but we assume the demand will be small and only when users would wish to hedge against the U.S. Dollar.

This is the first coin to be a clone of Bitshares X, allowing market pegs to store wealth. This will give RPCD a first mover advantage and position RPCD to be a significant coin that will command a premium in value over time.


In the future - development will focus on various ways to support Rand Paul’s candidacy for President of the United States of America. Some of these features will require voting support beyond what is in the current bitshares_toolkit.

It is technically possible to donate RPCD to BTC addresses which can then be unlocked using the private keys of the BTC wallet. This means that if a campaign produces a BTC address for donations, then the DAC can be made to donate to that same address, only using RPCD instead of BTC. The money will be stored on the RPCD blockchain, but the public and private keys used will be the same! Only Rand Paul and Registered Campaign Coordinators will be able to access the funds. If no one claims the donations by the end of the 2016 Presidential Election, these donations will remain in the campaign address and effectively burnt providing further deflation.


Rand wanted a stock market based on bitcoin http://www.businessinsider.com/rand-...bitcoin-2014-5 —well Bitshares developers across the world are working on giving it to him and friends – we will be a part of that!

Exchanges – There has been interest expressed by exchanges, but no firm commitments. Once the coin has been released, we will strive to have the coin exchanged in as many places as possible.



The author of this coin has every intention of creating this coin and have it realize its full potential, but this is not a contract. There are no implied or explicit promises and therefore there should be no expectations. Volunteers are welcome.

https://bitcointalk.org/index.php?topic=848182.0

[Matt Collins]

Good I hoppe they do it while silver is down.... I bought a bunch of Ron Paul coins when Silver was at its peak in 2012

[Occam's Banana]

"By Rand We Stand" would be better than "In Rand We Trust" (if only because it's catchier ...)

[Brian4Liberty]

Good I hoppe they do it while silver is down.... I bought a bunch of Ron Paul coins when Silver was at its peak in 2012

It's a digital currency, like Bitcoin.

[Brian4Liberty]

"By Rand We Stand" would be better than "In Rand We Trust" (if only because it's catchier ...)

Yeah, or go ahead and go full hashtag: #WithRandWeStand.

[Natural Citizen]

it's coming....

Am I the only person who sees a problem with this?

Autonomous Entity to make a direct political contribution...natural right to privacy is honored in transactions between people.

Also, "Autonomous Entity" is not natural or a people...which is beside the point.

Seems like just another racket using the Paul name to peddle. And certainly some of the folks over there on that forum could use a lesson on libertarianism. Some real pearls I saw who reflect one of the reasons that I often mention that libertarianism often serves as the very stalking horse for a rather long list of other, very bad isms.

[Scrooge McDuck]

I'd like to be enlightened on the economic monetary policy differences between PoW (bitcoin) and DPoS (very often seen in crypto-circles nowadays) based mining for cryptocurrencies. Maybe not the best thread for it but this coin is DPoS so I think it is relevant. Is DPoS limited? It seems to be a response to many being concerned over the centralization of bitcoin mining as the industry becomes larger and more difficult to reap profits from. I don't really see any flaw in this as it mimics the intensified use of resources necessary for mining gold over time. What am I missing? Muh Roads? Anyone?

[Indy Vidual]

I had this idea months ago, but don't know all the details to create an alt coin.

[muh_roads]

I'd like to be enlightened on the economic monetary policy differences between PoW (bitcoin) and DPoS (very often seen in crypto-circles nowadays) based mining for cryptocurrencies. Maybe not the best thread for it but this coin is DPoS so I think it is relevant. Is DPoS limited? It seems to be a response to many being concerned over the centralization of bitcoin mining as the industry becomes larger and more difficult to reap profits from. I don't really see any flaw in this as it mimics the intensified use of resources necessary for mining gold over time. What am I missing? Muh Roads? Anyone?

The economics in Proof of Stake $#@!coins can be very flawed. You basically earn "interest" by keeping your coins in the wallet which is the incentive for doing so. It helps to keep more nodes running, but at a cost of increasing the supply indefinitely. PoS was originally created by Sunny King, the creator of Peercoin. PPC currently has a supply cap of 2 billion, but can be increased if needed.

You'll see a lot of $#@!coins run their PoW period for just 2 days to 2 weeks and then switch to PoS. This is a scam for the benefit of the coin creators. This essentially shortens Bitcoin's bubbly lifespan down to mere weeks instead of decades. The potential for profit can be huge if you cash out your $#@!coins and convert back into BTC at the right time...but the potential to get wrecked can be a lot greater also.

Be careful of this Rand Paul coin. Someone is just trying to pump & dump with his name as the enticing vehicle. People lost big on RonPaulCoin too.

[Crashland]

The economics in Proof of Stake $#@!coins can be very flawed. You basically earn "interest" by keeping your coins in the wallet which is the incentive for doing so. It helps to keep more nodes running, but at a cost of increasing the supply indefinitely.

You'll see a lot of $#@!coins run their PoW period for just 2 days to 2 weeks and then switch to PoS. This is a scam for the benefit of the coin creators. This essentially shortens Bitcoin's bubbly lifespan down to mere weeks instead of decades. The potential for profit can be huge if you cash out your $#@!coins and convert back into BTC at the right time...but the potential to get wrecked can be a lot greater also.

Be careful of this Rand Paul coin. Someone is just trying to pump & dump with his name as the enticing vehicle. People lost big on RonPaulCoin too.

Almost every altcoin, both PoW and PoS, are set up to greatly benefit the coin creators. I think the problem of initial coin distribution when you start a brand new blockchain is inherently unresolvable, whether the coin is PoW, PoS, a hybrid, or started by PoB (proof-of-burn). It worked for bitcoin only because it was the first one. Pegged sidechains might end up solving this problem in the long run -- which is kind of like proof-of-burn, except the coins are locked rather than burnt, meaning that the burn/lock period is not finite, and is reversible. I found Blockstream's whitepaper on that topic to be quite interesting: http://www.blockstream.com/sidechains.pdf

[muh_roads]

Almost every altcoin, both PoW and PoS, are set up to greatly benefit the coin creators. I think the problem of initial coin distribution when you start a brand new blockchain is inherently unresolvable, whether the coin is PoW, PoS, a hybrid, or started by PoB (proof-of-burn). It worked for bitcoin only because it was the first one. Pegged sidechains might end up solving this problem in the long run -- which is kind of like proof-of-burn, except the coins are locked rather than burnt, meaning that the burn/lock period is not finite, and is reversible. I found Blockstream's whitepaper on that topic to be quite interesting: http://www.blockstream.com/sidechains.pdf

I think the difference between Bitcoin early adopters and your average $#@!coin early adopters though is that Bitcoin was worth nothing from the beginning and the people who care about free markets the most are the ones who stuck around for the long haul creating services and growing the infrastructure.

But when you make a new $#@!coin, you can immediately pull a $20K marketcap from your anus because of their peg to BTC. This brings out the worst in people in the $#@!coin sector if you know what you're doing. Bitcoin on the other hand makes me smile because the wealthiest early adopters are libertarian/anarcho-capitalists. They're continually re-investing their money by creating businesses and jobs around the world.

Yeah the two-way peg concept between Sidechains & Bitcoin's blockchain is exciting. Ethereum investors must be nervous. Many middle-man industries will be affected in the future due to smart contracts. And $#@!coins made as a sidechain instead of an altchain can potentially trade with Bitcoin in a decentralized manner without a central point of failure like the current exchanges.

[Scrooge McDuck]

Thanks for the great explanation. I had a feeling something didn't smell right. Some of the best techies in the crypto-space come across as really not understanding austrian economics. This makes it difficult to trust them.