I’d be interested to see this or another system for crowd sourced investment used to encourage crypto service start-ups. While this could just pertain to services involving cryptocoins, I think it would be more important to encourage all kinds of service work. The development of the service sector is integral to the enrichment and expansion of cryptocurrency.

We shouldn’t limit the coins to be used only to buy goods, gamble, or trade on the exchanges. I should be able to have my lawn mowed, my car washed, and my son tutored for FeatherCoin/Bitcoin. While getting these services up and running doesn’t require a Kickstarter in the fiat world, having something analogous in the crypto world might help accelerate the economic development of the servicee sector (which is lagging behind the fiat one very badly).

Just a thought, what do you guys think?

The Nutmeg State (Connecticut, that is)

I think this is something which, if not an inevitability, must become a necessity.

The problem though, is that designing and programming an ASIC architecture isn’t a trivial undertaking (as far as I can tell). It requires a pretty high level of expertize in low level computing and high performance algorithm design. This is why most of this sort of development is proprietary. It’s difficult and (a lot of the time) boring work that most people who have the skill for won’t do for free.

All of this notwithstanding, I think it’s an incredibly important project to encourage for the future of all crypto-coins and the p2p economies they hope to foster.

Creating a FeatherCoin Electrum client would be a pretty worthwhile project. There’s already a Litecoin analogue to the original Electrum for Bitcoin, so it only seems right for FeatherCoin to join the party. Any chance someone is already working on this? If not, are any of you up for the job? Thoughts?

https://github.com/litecoin-project/Electrum

I really want to use this…but I hate having to hand over my cell number/verification documents to companies that are clearly forwarding them over to the feds in order to be considered “legitimate” businesses. If and when the shit really hits the fan with crypto and the law, this is not going to be fun. Am I wrong to be paranoid about this?

[quote name=“chrisj” post=“16142” timestamp=“1371559327”]
[quote author=Chaoskampf link=topic=858.msg16072#msg16072 date=1371525610]
I think this is a pretty awesome idea. Why wait for BTC-e to set up a FTC/USD when you can just take things into your own hands. Power to the people!
[/quote]

I have since found out it’s called open outcry but apparently it’s not that easy to do because you just get a lot of noise and if you want to be a market maker you are taking a big risk and still have to deal with all the settlement.
[/quote]

Could you curtail the noise/confusion by having multiple people working for the exchange? If it’s one or two people trying to run it then I see how it would get unmanageable very quickly (assuming there’s enough interest in the first place). If there’s 5 or 6 exchange workers and you set up some formalized system for placing orders then maybe it would be more under control? Also, distributing the market-making responsibility among a group of people might help ease the burden.

The thing is, now that there are so many markets that accept Bitcoin, it’s become much more feasible to fund your startups with crypto. Especially with gyft integration, you can buy basically anything you need for your startup entirely with Bitcoin. Because you can trade FeatherCoin for Bitcoin so easily, the same applies to FeatherCoin through the associative property.

It’s pretty amazing how absent the cognitive dissonance is in the trollbox. Either these people are actually stupid or they think everyone else is. I’m leaning towards the latter.

I think this is a pretty awesome idea. Why wait for BTC-e to set up a FTC/USD when you can just take things into your own hands. Power to the people!

Is it too soon to start thinking about this? I know that the Bitcoin analogues are having a pretty hard time getting off the ground, so I don’t know if FeatherCoin is in a position to start developing a project like this quite yet. I think this is one of the most awesome services that could possibly be provided for any currency, crypto or otherwise. I wrote a thread on Bitcointalk a while ago concerning this issue, and I hope you guys read some of my points about why I think current Bitcoin Kickstarters have more or less failed (as well as a few solutions to some of those shortcomings). What do you guys think?

https://bitcointalk.org/index.php?topic=204703.0