Reverse loopback / Newbee Fund / Livecoin affiliate Asset Idea

  • So here is something which has been brewing in my twisted mind for a while now!

    The Intension is to be able to give something more then the "usual" 1 or 5 Coins to Burst Newbee's with no (or little) strings attached and eventually get something back in the end.

    And this is where it gets twisted:

    The Idea is to

    • create an asset with an associated account

    • sell the shares and send the burst to the Livecoin account (maybe 20B/S)

    • Issue Vouchers (also 20Burst maybe) on Livecoin and give them to anyone (NOOB's!) willing to sign up with that accounts affiliate link
      (and have some control over it because you can tie and check the voucher to Livecoin account hashes)

    • get 10% of the affiliates trading fees for Lifetime

    • pay this income to shareholders and keep a % for future funding (0/100% for the first month(s) and 70/30% afterwards?)

    As you my realize by now its hard to keep such an asset self sustainable and it has to be community driven and with log term gains in mind.
    Fund a Noob! or something!-)

    I am however happy and willing to do the work, issue the asset and buy the first shares myself.
    What I'm still struggling with is the percentages to make it somewhat work! So any input and experience is welcome!

    To be perfectly clear I have no affiliation with, do not particularly recommend nor recommend against that exchange (all through I've been using it more and more in the past weeks) but relay like there Voucher system.
    I'm just trying to "beet the system", do something good and have some fun while I'm at it!


  • @nixxda I am still wrapping my brain round the detail, but I quite like it. How much of a Noob transaction is effectively automated, and how much needs manual intervention?

    Do they really pay 10% of the trading fees, seems quite generous, or are there fees very low?

    Are we sure that it cannot be abused as faucets often are or is that not a problem.

    I like the concept. 🙂


  • @RichBC
    "NOOB transaction" unfortunately is not automated at all! (until I learn some programming! API is mostly there, but I'm to dum!-)
    It Involves quite a few steps:

    * You sign up to []( using my referral code "Livecoin-Xxxxx"
    * You send me an private message here in the forum with Referral Hash from the very bottom of the Livecoin "Account/Referral" page
    * I verify and issue an  Voucher Code for 20 Burst to you
    * You redeem it on the exchanges "Balance" page and use it to setup your account or do whatever you want with your 20 Burst!-) 
    * One Voucher for each Referral Hash and corresponding Forum account Name only!

    But I can do the work no problem! Lets say twice a Day if neded.

    • Fees are reasonable at 0.18% and what they pay is:

    10% forever seems to be the best deal. Especially for new accounts with low trading volume at the beginning.

    • It can be abused to some extent. But its going to get tedious quickly.
      Also it wouldn't be to bad getting some "bigger fish" making a living out of "bagging"!

    Glad you like the Idea!-)

  • @nixxda Just thinking about this I wonder if the thing to do is to not initially set up an Asset but to give it a go as an individual.

    Put up a thread that describes what a noob miner wanting some Burst should do. Then everyone here stop giving them free Burst and direct them to the thread. perhaps have a word with haitch and see if there is anything he can do to help it along, perhaps a link from the Ads we have.

    This will let you see how it goes without the expense etc of the Asset and also sort out the best way of doing it. If all goes well you will then have a base to get the Asset going?


  • admin

    @nixxda As per Rich's idea - if you want to get a small graphic, with "Need a Burst - start here...." message, I can put it up as a permanent logo on the forum, have it redirect to a thread telling them what they need to do.

  • @RichBC thought the same thing yesterday! I have to do it myself at first until I have some proof that it works!

    @haitch maybe..! I'm still fighting some moral doubts about those affiliate things. Especially with new people! But I'll be done soon!-)