I needed a project so I could try out the Dogeparty network, so I went ahead and created PERMIES, our very own crypto currency! There are 26,451,000 coins in total giving us 1000 coins per currently registered user. The coins are divisible (I believe up to 8 decimal places) and they are not callable (once you have them, I will not be able to call them back)
This is strictly for fun, and I don't expect them to have any real world value. Though if they get distributed widely enough, I may offer some of my seeds for sale just to see the coins get used for something.
Mostly this is just a chance for folks who are curious to try out this technology with no risk of losing any real money. So I will send some coins to any registered user who has an account that is at least 30 days old and posts a valid wallet address on this thread. Dogeparty uses the same wallet addresses as Dogecoin, so any valid dogecoin address will work to receive coins. You will need a Dogeparty capable wallet to be able to spend the coins, and so far the only one that exists is found at http://wallet.dogeparty.io This is open source software, so I expect other compatible wallets to hit the net soon.
The dogeparty wallet is what is known as a deterministic wallet, and it operates a bit differently than other wallet programs you may have used. There is nothing to download, it is a purely web based wallet. It will generate 12 random words (or you can supply your own) and run those words through an algorithm to generate a new key pair. As long as you type those same words in the same order, you will generate the same private key and be able to access your wallet from any computer on the internet. The words act as your key, so it is important to write them down exactly as they appear (all lowercase with a space between them) and store them in a safe place. They are not stored anywhere online and there is no way to recover them. This is digital cash people, if you lose the key it is gone forever. It would take the best computers in the world thousands of years to crack this code and figure out what your private key is based on a public wallet address.
I would love to see this go somewhere, perhaps a tipping bot could be developed for the permies site someday so we can tip each other for comments and content that we appreciate. Perhaps we will one day see a thriving market of seeds and cast iron and such things. Who knows? But for now I will be content use PERMIES to learn how to use the dogeparty platform better and distribute it to whoever is interested in trying it out.
So if you are interested, and you have an account on this forum that is at least 30 days old then post a valid dogecoin/dogeparty address and I will send you some coins. No strings attached. It's first posted, first served and I plan to try a new distribution model. I will send 2% of how ever many coins I have at the time. This means that the first post will receive 529,020 coins. Every other post will receive a slightly smaller number of coins until I don't have enough to give out anymore. If you are Paul Wheaton, I will send you as many PERMIES coins as you want out of what I have left.
I will answer any questions as well as I am able, let the fun begin!
I just realized that there is a transaction fee to use the network. I'm pretty sure it is 1 dogecoin per transaction (currently valued at $.000141 or 14/10,000ths of a penny) This fee gets paid to the miners who put computing power online to process transactions and secure the network. Just so everyone can try it, I will include 100 dogecoin along with however many PERMIES coins you get.
Just a few things to know. The dogeparty wallet is running much much slower than the regular dogecoin client. I suspect this is due to the extremely high volume of new users. It has been up and running for about 18 hours now and almost a billion dogecoins have been sent through it already. Also, although the permies coins are being recorded on the blockchain (ledger of accounts) in a decentralized way, the dogeparty wallet is running on the developers servers so it is still technically centralized at this point. The speed and network resilience will improve as new services come online, but until we get more wallets operating PERMIES is not yet a truly decentralized currency. Still, it will give you an idea how this all works.
Burra I sent you 264,510 Permies coins and 100 Dogecoin
Ludger I sent you 261,864 PERMIES coins and 100 Dogecoin
Randy, I sent you 10 dogecoin, please let me know if you get them ok and make sure you are able to log back in to your same wallet.
I am excited to get some PERMIES out in circulation. There's really not much to do with them other than send them to people, but here are a few ideas.
You can make a new wallet and practice sending them to yourself and back.
You can get the regular dogecoin wallet from http://dogecoin.com and create new addresses there to send them to. The dogecoins will show up in that wallet but the PERMIES will not be recognized. That's ok, they are still recorded to that address on the blockchain. You will have to export your private key for that address and enter it into your dogeparty wallet in order to retrieve them, but that is a useful thing to learn how to do.
You can create a paper wallet and learn how to store your coins offline. I use the one at http://dogecoinpaperwallet.net/ . It is a bit more secure to save the webpage to memory stick and run it with the internet disconnected. If you want to be super duper secure about it, use a computer and printer that have never been connected to the internet. Yes, malware is a potential risk, but I have been ok so far printing my paper wallets on my regular computer with the internet disconnected. It is important to make sure you have up to date antivirus and spyware protection.
Now we have a network of three users. Not very useful but as each new user comes in the number of places we can send our humble coins grows exponentially. Remember this is just for fun and education, but you never know, it could grow into something.
With that in mind, there are a few things you should be aware of. Governments around the world are struggling to figure out how to react to all this. The rules are just starting to form and will likely change before all is said and done. Here in the US, it is legal to own and use crypto currency. IF you are going to operate a service that stores coins for other people or are operating as an exchange then FINCEN (financial crimes) and AML (anti money laundering) rules apply like it's a currency. The IRS is treating these like stocks and will expect capitol gains to be declared (assuming you have any). So basically we have two different divisions of the treasury department defining crypto currency in opposite ways. Crazy. In some countries people have had their bank accounts suspended or closed for buying and selling Bitcoin. I'm pretty sure they will shoot you in North Korea for having it. Please keep in mind that I am not a lawyer, and nothing I have posted here or anywhere else on this forum should be taken as legal advise.
Here is a statement put out yesterday by some notable people in the Bitcoin community that I thought was pretty outstanding.
that went well afterall, but my DOGE count is dropping. I expected to have 109 DOGE after that transaction, but now have 107 only. How would I get more DOGE, to be able to send my PERMIES for whatever reason I see fit? It was slow also - The transaction had status "pending" for several minutes.
There are a lot of ways to get dogecoin. I like the site http://weselldoges.com to buy using paypal. It is somewhat above market rate, but then they have to pay paypal's fees and risk chargebacks. You could also post to the dogecoin subreddit. http://www.reddit.com/r/dogecoin Begging is not allowed there, but if you post something along the lines of "Hi, I'm a new Shibe and this community is great" or "How does this all work?" you will get a surprisingly warm welcome. There is also http://www.reddit.com/r/dogecoinbeg where you can just straight up ask for some dogecoin.
If you wanted to buy them at market rate you pretty much need to buy Bitcoin first and go to an exchange. I use http://coinbase.com and http://cryptsy.com but there are many others.
You can see the aggregated market rates at http://coinmarketcap.com
Just to put it into perspective, $5 will get you 32,629 dogecoin on weselldoges right now.
How do the fees get determined?
By the protocol. Most of the fees have to be paid to the Dogecoin network such as tx fees and for the txouts to allow the Dogecoin tx to happen which includes the Dogeparty protocol information to be persisted in the blockchain.
What actions require a fee?
I don't have a full list here, but every single action that needs to write information to the Dogecoin blockchain have at least some DOGE fees involved, but which are in $ very minimal.
Where exactly is the fee going?
Fees paid in DOGE go to the Dogecoin miners. Fees paid in XDP will vanish from the XDP money supply.
Also it is my understanding that the XDP is burned when we create an asset. Is that correct? Is there a burn address we can see, or some other way to verify it?
Correct. To 'burn' XDP there is no particular address needed since the Dogeparty information are encoded in transactions itself as kind of meta data. You can inspect a particular address with dogepartyd i.e. and see how the XDP balance is changing over time. Or have a look into the wallet > on the left: more > Network Stats > scroll to the bottom and see what's happening here.
Hope this helps a bit.
Coming back next Friday, then finishing our vacation by heading down to the Garfield Farm museum's annual heirloom garden show near Geneva, IL on Saturday the 24th.
I won't be online for abut a week, but feel free to keep posting addresses and I will send you coins when I get back.
If this gets popular enough I may accept PERMIES for hand made soap. My wife will probably kill me though....
Chris, I was under the impression that permacredits was a centralized thing, vs a true crypto currency. I tried to look into it a bit more, but the site seems to be down.
1000 doge and 259,246 Permies on the way.
Peter, 1000 doge and 256,653 PERMIES on the way. That would be cool to see you sell soap for PERMIES someday. For now you may want to consider trying dogecoin. It will open up a new customer base for you and there are services that will instantly convert it to fiat money so you don't have to worry about the price fluctuations.
I will look into accepting Dogecoin one of these days. I currently accept bitcoin in person and here: https://bitdazzle.com/shop/handcrafted-by-erikka. Are there any good websites for selling items for Dogecoin? I'm sure I could incorporate selling for bitcoin and Dogecoin on our actual website, www.handcraftedbyerikka.com, but that's beyond my coding skills at the moment.
My wife says I can sell one soap for PERMIES.... if the price is right. I want to be the second PERMIES millionaire.
You can see the history of any dogecoin address by using a blockchain explorer. I like http://dogechain.info Just search for any address to see it's history.
We recently got a similar service for dogeparty where you can search addresses for tokens, including PERMIES. http://dogepartychain.info/
You may want to try listing your soap on http://www.suchlist.com and/or http://www.reddit.com/r/dogemarket
Some popular payment processors are https://www.gocoin.com/ and https://moolah.io/ That could assist you with accepting Bitcoin, Dogecoin, and Litecoin on your site.
If we get enough interest here, I plan to give away all of the PERMIES I have, and then try to earn them back buy selling my seeds. Not the best business plan in the world, but then I never was a very good business man.
I like this idea, as I am new to the crypto-currency awareness. I created a Bitcoin wallet recently and want to "invest" in Permacredits when it launches, but would really like to get a better idea of how it all works before that happens. So thanks for the opportunity!
Mein wallet --> DJgz51641kLTAyRjTVaAqGmXxpjWpD9bLv
Someone earlier mentioned changing their "label" to their name. Is this recommended? If yes, how do I do it?
The label on each wallet address is for you to keep track of things personally. The label can not be seen by anyone else. It is similar to creating nicknames for your bank accounts when viewing your bank website. From the "My Balances" screen just click on an address and a pop up window appears. From there you can change the label.
Can you give me some insight into why you chose dogecoin as a base, instead of one of the other established coins? I'm still biased against it because of it's explosive popularity when it was first launched, it looked like a prank to me at first, and it's value on http://coinmarketcap.com/ shot up to something like first place, i took a screen shot because it looked like the site had been hacked!
anyway, here's my address, i would love to join the game:
Mark, it wasn't really that hard to make it, but you are most welcome.
I will try not to turn this answer into an essay, but it will be hard because there are so many reasons I believe in Dogecoin.
To be honest, it wasn't that I chose dogecoin for this project as much as I was already a dogecoin fan and the launch of dogeparty inspired me to create PERMIES. At the core, I am really just a fan of the blockchain technology and the model of decentralized trust created by Satoshi Nakmoto. So at heart, I am a bitcoin fan. I was more attracted to dogecoin for a lot of different reasons. It did start as a joke, but I think the creators accidentally got some things right. 100 billion coins is a good number for a global currency, I'd much rather be trading in whole numbers than fractions of a coin. Faster transaction times is smart too. I love the dogecoin community, it is based mostly on the ideals of fun and generosity which I can totally get behind. There is a large pool of amazing developers that constantly come out with exciting new services.
I first got into Dogecoin in January, and now I really can't imagine life without it. I got to see the spontaneous crowd funding of the Jamaican Bobsled team. The funding of two litters of service dogs for disabled children. The funding of two wells and filtration systems in Kenya. A random pizza party at a homeless shelter. People randomly buying hamburgers for each other across an ocean. The list of giving goes on and on and it is really cool to feel like I'm part of this worldwide movement with a whole different perspective on money.
When I saw a guy send $12,000 worth of dogecoin on twitter, instantly and anonymously, to finish the doge4water campaign; that was the moment that I realized that the rules of global finance just changed forever and I wanted to be a part of it.
Josef Theisen wrote:Rick and Peter, I have sent you each 10 Dogecoins as a test. Please verify that you have received them and that you can log out and back into your wallets and I will send the PERMIES and additional dogecoins.
I apparently have done something incorrect as nothing has shown up. Looks like my success with bitcoin when it was going to take 14 years to mine my first coin
I created a new address incase there was something wrong with the last one.
Sorry to be a bother!
I just sent 10 doge to your new wallet address. Make sure you have the correct key written down somewhere secure, and you should be fine going forward.
Josef Theisen wrote:No worries Rick. The deterministic wallets are tricky and take some getting used to. I actually messed something up on my first wallet. Still not sure if I switched the words or what, but that is why I do this small test run for new users.
I just sent 10 doge to your new wallet address. Make sure you have the correct key written down somewhere secure, and you should be fine going forward.
Well it worked fine this time, there 10 in there without restarting this morning