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The ZHC0 components

The ZHC0 components

Component 1) Create a distributed network with 5+ operational clients.
Explanation: I need some reliable coin client hosts, miners, if you prefer. I have presently only 3 clients running on different connections.

Component 2) Give Tyler 250,000 coins?
Explanation: Votes on the Poll page indicated that I should not give Tyler any coins. I have indicated to him in private email correspondence prior to the vote that I would reserve ¼ of the coins for ‘tyler/tylers/marla/sac etc’. This means 250,000 coins, as the coin base is 1,000,000.

Component 3) Upload the code to Github, try to create a community.
Explanation: Usually a community forms around open source projects. This should be no different, but as there is no key coder, it is likely that the code only remains a repository for those curious about how open source projects work. Create a page on ZHC0.com explaining how Github and open source works, and to encourage a code curator to volunteer and assist with advising the developer on what maintenance and upgrades are necessary.

Component 4) Engage Cryptocertify to certify the coin code and the developer.
Explanation: Cryptocertify will certify the code as being clean and the developer as being a particular individual identified by ID. This gives the coin legitimacy, while it doesn’t eliminate scams, cons, back doors, it will reduce the perception of ZHC0 being a scam or malicious or rogue software. It is unknown whether Cryptocertify will pass Zero Hedge Coin 0, however, I can try and have already entered into correspondence with them on this regard.

Component 5) Develop an installer for the coin client.
Explanation: Upon download the coin client runs in place and creates its settings in %appdata%\zerohedgecoin0. Need to build it into an installer with add/remove support, with an option to run at startup or not, with an option to wipe the appdata folder, and have this installer certified by Cryptocertify once it is tested and bug free. Need to identify what installers they can certify, and if one is free or if it is only available for commercial installers. Document this process on zhc0.com so people understand this part of the coin creation process. It is an additional cost, not budgeted for.

Component 6) Identify a reliable process to backup.
Explanation: The wallet should always be copied to a USB device or network or dropbox/skydrive/googledrive location, especially after any transfers. This protects the wallet from loss. Also, ensure the installer highlights where the critical data is stored, so people know from day 1 how to create an offline backup of their coins. (Presently must exit client & detach databases at shutdown, then backup %appdata%\zerohedgecoin0 wallet.dat file ?)

Component 7) Bugs already identified
Explanation: Identify the cause of (private user) being unable to run the client, and identify why it crashes on first run on windows 10. Client starts successfully on second run. (Do a dependency walk over different OS’s?). Find or develop bug-tracking systems that are simple and easy for people to contribute to (no account required).

Component 8) Identify a place where forums and chat can be hosted
Explanation: We want a place that is off the Zero Hedge website, allowing discussion to take place without diverting from or interfering with the Zero Hedge mission. I don’t want this place on ZHC0.com either, for practical purposes – I don’t want to be responsible for kicks/bans/policing. Said differently, deleting robot spam comments is the extent of the moderation that I wish to be involved in.

Component 9) Give coins away according to membership. (thanks to private user for tips)
Explanation: Coins to be gifted based on current week/year and number of weeks/years a person has been a member. This is publically available on the Zero Hedge website. Upon request from someone, ask to meet them on Zchat public, then move to Zchat private. Check their membership age from their account link. Calculate and confirm with them the coin number to be given away. Ask if they have a way to backup their wallet.dat. Confirm their client is connected. Ask for their address, do the transfer. Wait online till transfer is completed. Copy chat transcript. Manually record transaction in spreadsheet. Post chat transcript & spreadsheet online somewhere, perhaps on ZHC0.com

Component 10) Give away coins via other channels
Explanation: Coins may be requested via requests on comments section of zhc0.com or via direct email or requests found via Zero Hedge comments section, or via third party websites such as coin forum sites. In all cases, requestor will be diverted to Zchat public then Zchat private for transfer to be initiated and take place and be recorded, this authenticates the requestor as a Zero Hedge member who is active and makes public their gift.

Component 11) Give away extra coins
Explanation: Those who frequent Zchat public room are dedicated supporters of the Zero Hedge manifesto, for the most part. Eg. For each person, a bonus of 100 coins, limited to the first 20 people who ask?

Component 12) Give away mugs / coffee cups for ZHC0.
Explanation: Investigate if funds are left over for some Mugs out of the first years operating, security and coin maintenance costs. If so, create an incentive to hold and gather coins by selling the Mugs for ZHC0. (there may be a problem in that this means I gain additional coins. It would be better if another person carried this out to acquire coins)

Component 13) Address 51% problem.
Explanation: Create a tutorial on how to exploit the 51% problem (if possible to explain it without understanding the code)

Component 14) Address pump and dump problem.
Explanation: Create a tutorial on how to do a pump and dump (if possible to explain it without fully understanding it or studying examples)

Component 15) Work to get listed on an exchange that is in turn listed in Coinigy.
Explanation: Coinigy is a premier trading platform, one of a few such platforms. Poloniex is an example of an exchange that lists altcoin pairs. Bittrex is another excellent exchange. These are the sort of trading & exchange tools I wish to make available to holders of ZHC0.

Component 16) Transition the site away from a blog and towards being an educational repository for new altcoin creators – specifically fancoins.
Explanation: Find and promote some relevant Coinigy tutorials, basic exchange overviews, how to trade, etc. All aimed at a very, very low level.

Component 17) Upload coin distribution overview (need community assistance with this plan)
Explanation: Upload a vetted and accurate summary of distribution plan. EG. (Disclaimer: I failed math) 1,000,000 coins are available to be mined. Of this, 750,000 have been pre-mined to give to Tyler and members. There are 250,000 coins left to mine. Tyler gets a maximum of 250,000 of the pre-mined coins (upon request), leaving 500,000 pre-mined coins for members. Assuming 5,000 members want coins over a 5 year period, and assuming membership age is 3 years. This is 52 weeks * 3 years = 156 weeks per member. Multiplied by 5000 members. This equals 780,000. So, I calculate 1 coin per week is a good, simple amount to give. Initial handouts will be to members of 1 year duration only, 1 coin a week so starting at 52 coins for a person whose membership has just hit 1 year. Note this is optimistic and ignores the manual logistics of gifting so many coins.

Component 18) Have our developer compile a Linux version of the ZHC0 client.
Explanation: We need a Linux version running on a cloud server as the primary high-reliability client. This can wait till the other issues are resolved.

Component 19) Explain the interest and the stake component
Explanation: interest/inflation for stakeholders is set at 5% per year. Explain how this works, using the correct terminology. Give a real world analogy as an counter-example.

2 thoughts on “The ZHC0 components”
  1. jedigras 2015-10-31 on 8:08 pm Reply

    so this is a premined pos coin? not a pow x11 coin?

  2. 15horses1donkey 2015-11-01 on 7:50 am Reply

    Really, the more accurate description is ‘staking’. It is a hybrid x11 POS/POW coin.

    My developer has chosen the parameters and understands it better than I do, what I’ll do is learn more about this particular type, and post an article on it. This may take me just a little while though, I have a lot to get through.

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