The Pseudonym | Table O Contents
How shall you be known in cyberspace when it comes time to transact using a crypto-currency?
- The Pseudonym | Table O Contents
Medcoin™ Tangerine Copper Logo Badge in the page header above is an
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Hint. Place the intro paragraph ie.) the ‘hypothesis’ here …
More to come …
One of the coins expected to hit the market in 2025 via Initial Coin Offering or ICO is our Medcoin™ Tangerine Copper coin patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge.
The other coin expected to hit the market in the year 2025 is our Medcoin™ Gold coin also patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge, as well.
One of the draws of using a crypto-currency in the United States is perceived anonymity when conducting a transaction.
However, because the wallet address that receives and sends the crypto-coin is a piece of default data when queuing a transaction for consensus verification, at least the address of the wallet may be traced back to an originator.
Enter The Pseudonym
The “Dread Pirate Roberts” … Remember him?
Mine? Robert Hempaz, at least over at Coinbase and other social media sites.
[Robert Hempaz, PhD Trichometry™] to be exact.
Shoot ‘em on over boys and girls.
You have to invest in something, now don’t you?
Surely you do NOT want to pay the tax upon cashing out, now do you?
You know who you are.
The lucky remnant of days gone past when $25 USD bought you two (2) decent sized pizzas … in exchange for 10,000 bitcoins.
Those were the days!
Did they even capitalize the “B” back then?
Where Were You In ‘52
How about #2015?
BTC = $225.00 USD (Proof-O-Work) (bitcoin)
LTC = $002.50 USD (Proof-O-Work) (litecoin)
DOG = $000.01 USD (Proof-O-Work) (dogecoin)
NMC = $000.40 USD (Proof-O-Work) (newcoin)
DSH = $003.00 USD (Proof-O-Work) (Reduced Energy) (dash) (digital cash)
NXT = $000.01 USD ( Proof-O-Stake) (nextcoin)
PPC = $000.40 USD ( Proof-O-Stake)
DPC = $000.00 USD (dropcoin) (compensate blog writers)
Note. The above estimates are from actual price quotes from the year #2015.
Stop The Mining
Hypothesis. Centralized data capture will be more profitable in the future than consensus coin mining.
Up The Ante
Instead of a “fixed-for-life” strategy for the number of crypto-coins in circulation ie.) 21 million coins MAX for bitcoin …
Start with a more manageable 100 million coins in an IPO with an option to create another 900 million coins over time as demand warrants.
That’s a capital “B” billion … make that more like $15 bill USD based on simply the numismatic value of the aggregate.
Cost to produce plus intrinsic value sets the original asking price.
Make ‘em all cryptographically sound by using Q-bits instead of tapping China’s cheap coal-steam-turbine electricity and labor markets to “proof” the work of mining to the detriment of the environment.
Embed tamper proof NFC in each coin.
Ticker Symbol: MDC
Enter The Block Chain
The coins are pre-loaded with the daily melt-down on issue and can be reloaded thereafter by the wallet owner for reuse or gifting in ANY dollar amount.
Individual transactions are both auto-scribed to the centralized blockchain and released to the consensus, the centralized blockchain representing a primary node, the consensus an aggregate of secondary nodes.
The secondary nodes read, reconcile, and affirm the centralized release.
Only the primary node has permission to write to the block chain.
All recipients of Medcoin™ must open up a digital wallet to receive credit for their transaction.
The end-user agrees and affirms upon initial transaction to participate the aggregate data when, as, and if verified in a non-revokable tender in exchange for no fee.
However, returnable bounties equal to the daily melt-down will be paid for all lost coins recovered by 3rd parties.
The Cost To Verify
What is the cost to the network when verifying a single transaction?
This is the transaction fee charged.
How much does it cost to verify a transaction through the distributed blockchain?
Next to nothing if the answer is already given to them.
Therefore, the network becomes a reconciler of the central primary node at less cost and overhead than bitcoin.
Charge a flat $5 per transaction fee to enter a single purchase into the blockchain at the rate of $1 per minute ($60 USD per hour).
Note. Five (5) minutes max cuts the normal bitcoin processing time in half.
Tender the block chain to the taxing authority to reconcile taxes paid by the introducing vendor per ounce sold.
Tender the block chain to the health and human services dept to reveal the age of the purchaser for recreational sales.
Tag all medical sales at a reduced tax.
Tender the block chain to the health and human services dept to reconcile bi-weekly limits per patient ie.) 2.5 ounces every two weeks.
Be a Miner 49’r
Secondary nodes registered as Miners with the primary node reconcile the block chain on standard GPU in less than 30 seconds of receipt of the updated ledger.
Errors found, if any, create a rewrite of the transaction by the primary node team and a resubmission to the consensus network of secondary nodes for a 2nd reconciliation.
Miners are compensated for each accurately completed reconciliation of the block chain at the rate of 1/100th of a Medcoin™ per given block of transactions.
Each block holds ten (10) transactions.
Therefore, a Medcoin™ is sacrificed to the secondary nodes every 1,000 transactions.
At a market value above intrinsic value ie.) when Medcoin™ trades at a premium to original issue, the Miners will receive 10 cents per transaction at a coin value of $100 USD.
Note. Original issue in this case is the melt-down value of the coin at issuance time.
You’re sitting on a portfolio of crypto currencies, primarily bitcoin and you think the market is getting a little bit ahead of itself by pricing bitcoin in excess of $4,000 per coin when a mere four (4) years ago according to the public blockchain for bitcoin, an “investor” sunk 10,000 bitcoin into the purchase and delivery of two (2) pizzas with a conversion value of $25 USD at the time.
What do you do?
In today’s crypto currency market, if you have access to Tender, you may swap your bitcoin ( all of them ) for a like amount of Tender denominated in USD.
Of course, in the United States, this would trigger a taxable event as the IRS does not consider the sale of one crypto currency and the purchase of another a “wash” sale even though you are merely running for the safety of a traditional money market fund type crypto currency.
Park those dollars in Tender and wait to re-enter the bitcoin market at a more sane level.
And, pay your capital gains tax on your k-billion dollar profit.
Note. Tender stays a constant peg to the US Dollar.
So, if you think you should be in Euro, rather than USD while parked, you will have to seek out an alternative crypto currency that pegs to the Euro.
Or, Great British Pound …
Or, da Swissie!
The Continuum of Risk
First, be optimistic!
Then, get excited!
Oh! What a thrill it is to make money in Crypto Currencies!
Wow! Bitcoin at over $4,000?
Now, THAT’s euphoric!
Woops! Missed that one, didn’t you.
I feel anxiety.
I can’t believe I didn’t sell that bitcoin at the top!
Now, I am in denial as the price of bitcoin starts to plummet.
Oh! God! I am down to my last mill …!
By the way, I am starting to get VERY fearful!
What did I pay for that coin?
Oops, that’s where it is selling at now!
I am starting to panic.
It goes lower.
I capitulate and sell to “preserve capital”.
Now, I am feeling very despondent and I fear I may dip into depression.
But, there is always hope ( as the price of bitcoin begins to recover ).
And, now I feel relief even though I sold all of my bitcoin at the bottom, the coin is climbing back above $300.
Should I chase it?
Hey! Funny … I’m feeling optimistic again!
Confucius say … “Buy low, sell high.”
As in Euphoria!
Initial Coin Offering (ICO)
More to come …
More to come …
Note. The above synopsis was derived from an article written by Jay Isaacs  and Jorn Van Zwanenburg 
Block Chain: The Beginner’s Guide To Block Chain Technology by Jay Isaacs
Bitcoin: How to Understand Crypto Currency by Jorn Van Zwanenburg
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