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Indexcoin White Paper - Introduction to EngageBtc Community
#1
    http://bitcoinmacroeconomics.com/2015/03/06/indexcoin-white-paper/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%
Dogecoin 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 CalculationsSo 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 0.00006379This 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.

Proof of concept: October 4, 2014
http://bitcoinmacroeconomics.com/2014/10/04/indexcoin/
 
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#2
Here are my thoughts:

1. There's already an indexcoin, so you would need a new name.


"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."

2. You call it daunting and conceivable, so do you know how to do it?

"But I can say that you have not heard of an indexed cryptocurrency and if you have, you heard about it via Bitcoin Macroeconomics."

3. You still haven't described how an indexed coin works.

"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%
Dogecoin 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."

4. You are saying hypotheically, so you don't even know right now? I don't think any coin is going to get anywhere without explicit information on how it will work.

"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."

5. It sounds like you're suggesting the indexcoin dev (you) would get money from investors, buy the Bitcoin, Dogecoin, Hyper, etc because you could sell those at some point, it brings value to the indexcoin.

But there isn't a way for it to be in the indexcoin, it's got to be controlled by someone. You can't send Bitcoins to an indexcoin address. Someone has to hold the Bitcoins in a Bitcoin address. 

6. You're saying that if Bitcoin rises in price, the indexcoin will rise in price, but the same could be said for dogecoin, and I only see dogecoin being worth less over time, because there's going to be inflation because dogecoins have no limit.

But I can't agree with a coin being based on other coins because I don't see a way the indexcoin can hold those in it's coin.

Indexcoin would have to be premined and be like an ICO.

And my final thought is, there are too many scam ICO/IPOs, I've given up on them.

http://www.whatscryptocurrency.com
 
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#3
1. Didn't know there was an Indexcoin.....never heard of it.....easy fix......
2. Daunting and conceivable, I've crunched the numbers and realize with equations it can be tied in by % of coin (for buys and sells in and out) but no I'm not that smart to do it or I would. I know it can but takes talent but believe via script it can, just needs to be tied in and needs to be provable to avoid the Royal Gox.
3. An index is various cryptocurrencies within in one trading coin....consider the S&P 500 or Jim Rogers AG Index (RJA) and take a look at the % of commodities in that agricultural index, its a commodity index. That's how the coin would work as an index...only with crypto you can trade the coin as a stand alone cryptocurrency and perhaps down the road utilize various technologies. But it's just an index based on (consider AG commodities....) "price" of the cryptocurrencies. That simple. So if one coin tanks, and 4 go up, the price is pegged to the "market price" but needs to be based off of a market price or pegged perhaps. That's where a partnership comes in....and details need to be discussed to arrive at that aspect as there are a plethora of exchanges and also a lot of scammers an nobody likes politics.
4. Ancillary jobs that come ....if not in the development of the coin....for those willing to work and can prove it or if a unit can be put together to create it, no I don't have all the answers, never claimed to.
5. No ....that's all built into the buy and selling of the coin (and subsequently, right back to those coins.....at market rates. Now that isn't to say I haven't pondered on a way for developers or investors to get paid somehow for ROI and for loyalty. But no it's not about me, but creating an equal opportunity, but I just say people should get paid for the project, that simple. I'm saying for those that help build it, should be a way to get paid for the work and also provide ROI for investors and partners, so not about me, but those that make it a reality in the long run.  Nobody should hold that kind of trust or it's a Royal Gox. It's just an index.
6. You are correct, that is what an index is, now you're getting it! That's why you want good coins in the index! Not to say that Doge couldn't be indexed! Doge has huge community, and if there were indexes, guarantee you Doge would be all over. That could only help support price, but you bring up valid point, and that's why it's all subject to analysis and discussion. That comes down to making good decisions. Yah, one coin could be a drag for the entire index. But say there was some feature in Xcoin that caused the coin to go down in price (because there are some that cause shortage and potential prices to go up, like Unobtanium, or Petro) then there needs to be that ability to remove the coins if need be and I don't know the best way. Vote? Face it the Jim Rogers RJA is a managed ETN and there are variety of % of commodities, I'd put my trust in Jim Rogers, though RJA has not been a performer over last few years, but I'd put my trust in a managed fund by Jim Rogers than the voting democracy of cryptocurrency (or America and the 2 party failure) .....but true statement you make. Likewise, one coin coin or several coins could skyrocket in price in say a 5 year period, making this coin heat up....or it could go down to nothing, all subject to market and factors. But best to eliminate the human element and make it open and transparent for integrity.
7. A coin would be based on the price of others and that's how an index works. I believe the price could be worth more as a stand alone coin, but really only holds value of the coins that's in it.
 
And there is no need for mining the coins! The mining has already been taken place with the other coins! You buy or sell the coins, it comes in, I just think this is where blockchain technology comes in for open and transparency for proof the coins are coming in and out for all to see - verifiable. No need to do an IPO or premine, as the coin is comprised of other coins. It's just an index, but a trading opportunity and stand alone coin that can be used to buy since it shows value at a current market price.

Face it, Bitcoin and Doge etc, they all vary in prices at any given time on exchanges, and that's why there is arbitrage. But I do believe this has strong potential for the exchange (partner) that helps peg the asset, but the coin then could be sold at various exchanges as it's a stand alone cryptocurrency, and each index thereafter, becomes a stand alone cryptocurrency as well. That's not to say that a person couldn't send the coin via Darksend feature if that is even possible in the event that say Darkcoin was part of the index.

But to keep it simple for starters, it's just an index and should just be considered that for starters, add in the technology later, but that's a lot of work and consensus that I don't have all the answers for, and thats why I want it to be a community project and job creator. I say it's a matter of finding the talent and working on it but that has to start somewhere.
 
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#4
2 Indexcoins:

https://bitcointalk.org/index.php?topic=8596.0

https://bitcointalk.org/index.php?topic=398468.0


I think you would need to have coins chosen, and the write-up of how everything would be done (explicitly), before advertising it. I understand this is one of the steps to getting someone who can do the programming.

However, I don't see how this idea will go well, or get someone interested in it. I wasn't saying there were any scams on Wallstreet, I was saying there are too many ICO/IPO cryptocurrency coin scams.

I don't know much of anything about how indexing works with wall street either, so maybe it's just me that doesn't get it. But I really just don't see any benefit to having another coin other than Bitcoin. I just don't see the benefit of having a coin based on the price of Bitcoin and others and how it would all work, at all.

http://www.whatscryptocurrency.com
 
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#5
Good find on the 2 Indexcoin discussions. One conversation went nowhere. The other came out in January and then conversation went nowhere. Didn't know anything about them, so if name is already out there, BFD. I drafted my posts and concept while ago. Though someone has a similar name (wouldn't make sense to have the same name) but also, these are completely different concepts and that's their gig, doesn't distract me from what I see. Someone may be interested if they want one trading coin versus all the various entries one would need to do to buy in. One coin does that all, and it's a hedge bet.....plus if blockchain technologies can mesh together in one coin, that's value and something very different than what is seen. That's how it's unique.
 
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#6
(03-09-2015, 05:11 PM)btcmacroecon Wrote: Good find on the 2 Indexcoin discussions. One conversation went nowhere. The other came out in January and then conversation went nowhere. Didn't know anything about them, so if name is already out there, BFD. I drafted my posts and concept while ago. Though someone has a similar name (wouldn't make sense to have the same name) but also, these are completely different concepts and that's their gig, doesn't distract me from what I see.

Someone may be interested if they want one trading coin versus all the various entries one would need to do to buy in. One coin does that all, and it's a hedge bet.....plus if blockchain technologies can mesh together in one coin, that's value and something very different than what is seen. That's how it's unique.
 

You can say BFD, but if you mention you have indexcoins and people already think that coin was stupid because of either of the previous indexcoin threads mentioned, then they may not pay attention to your new one.

By meshing blockchain technologies together, you're talking about transaction times, and blockchain sizes (like people are discussing whether Bitcoin's should be 20 MBs or not)? Would you have PoS (staking)?

From what I gather, you're essentially attempting to make a coin, for investment purposes, so a person wouldn't have to invest in multiple coins themselves, right?

The whole thing just seems so complicated, difficult to do, and not easily explainable.

As for your question in chat, I am playing Devil's advocate, I guess. You need to answer these questions, before I, or anyone can actually tell you if it will make a good coin or not, and definately before anyone would be likely to invest.

It's all written up here, though, so if anyone has the technological know-how to do what you want it to do, and wants to help, I'm sure they'll post or PM you.

http://www.whatscryptocurrency.com
 
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#7
(03-09-2015, 05:46 PM)MakingMoneyHoney Wrote:
(03-09-2015, 05:11 PM)btcmacroecon Wrote: Good find on the 2 Indexcoin discussions. One conversation went nowhere. The other came out in January and then conversation went nowhere. Didn't know anything about them, so if name is already out there, BFD. I drafted my posts and concept while ago. Though someone has a similar name (wouldn't make sense to have the same name) but also, these are completely different concepts and that's their gig, doesn't distract me from what I see.

Someone may be interested if they want one trading coin versus all the various entries one would need to do to buy in. One coin does that all, and it's a hedge bet.....plus if blockchain technologies can mesh together in one coin, that's value and something very different than what is seen. That's how it's unique.

 


You can say BFD, but if you mention you have indexcoins and people already think that coin was stupid because of either of the previous indexcoin threads mentioned, then they may not pay attention to your new one.

By meshing blockchain technologies together, you're talking about transaction times, and blockchain sizes (like people are discussing whether Bitcoin's should be 20 MBs or not)? Would you have PoS (staking)?

From what I gather, you're essentially attempting to make a coin, for investment purposes, so a person wouldn't have to invest in multiple coins themselves, right?

The whole thing just seems so complicated, difficult to do, and not easily explainable.

As for your question in chat, I am playing Devil's advocate, I guess. You need to answer these questions, before I, or anyone can actually tell you if it will make a good coin or not, and definately before anyone would be likely to invest.

It's all written up here, though, so if anyone has the technological know-how to do what you want it to do, and wants to help, I'm sure they'll post or PM you.

It's not just a trading "coin", but it's an option. It could be spent like any other coin since it has value, so not just for investment or trading, but for circulation and as an alternative currency to the USD or any other fractional reserve debt note.
If it's complicated to come out with a cryptocurrency, then no others should exist.
As for staking, I would say no, thought that is not my technical area of expertise. But there has to be some proof of the blockchain right? or else we might as well call it BOA coin. As for the BFD comment, I had no idea Indexcoin existed from prelim research. Sounds like someone has the name, can't fault myself too much never saw it anywhere. Is the coin even active?

But I don't have the answers to everything and nor do I want to or be expected to answer anything. I'm like Ron Paul running for President. I don't want nor do I have that kind of authority over your life! But I suppose there would be X amount of people that would buy into the coin as an investment or because they don't want to invest in individual cryptos, but then again what less than 1% even know what Bitcoin even is? So I think there is room to work things out. And there is something to be said about being unique and first to the table for indexing cryptocurrencies. And given the potential for volume of trade, this coin in and of itself could be very interesting, add in 200 other indexes over the years, that market could get interesting too as the darwinism starts to take affect and cryptos start dropping like flies. There will be attrition. I don't see the value of this coin sinking like the majority of the coins on the market today.

Instead of looking at the negative aspects and suppose you should look at things from 1,000 different angles (as I do) why not also look at the positive aspects of this coin, and that does include economic impact, promoting partnership relationships, bringing value to the cryptoeconomy and the indexed coins, and making a healthy option for freedom of choice.

Face it, if Namecoin was an indexed coin, people would partially own a coin that blocks censorship, that's supporting the coin and bringing value to investors and Namecoin. What about Alexandria and the integrity of historical record? People could be part owner in that too. Not everybody knows how to time the market, myself included. But at least one coin could provide that vehicle for diversification, and that's valuable too for investment, add in the fact that this coin could be spent wherever the sponsors accept it, or built in, wherever Bitcoin is accepted, it gets interesting moreso. Add in features like Darksend, because this coin owns % of Darkcoin, that brings technology together and benefits the world, I believe. But I also don't want to just talk about it. I'll limit my input because I would rather take it to the next level with interested parties, not for the sake of discussion or exposing ever card.
But to say that there doesn't need to be anything other than Bitcoin and what exists today, is short sited. What if Big Oil or Big Pharma never saw any competition for that same mentality? Just look at what  kind of world we would leave for future generations.

I think job creation alone is worth it, because it is not a duplication of efforts. In this regard, we are all one.
 
 
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