RingsofPowerCoin - An Altcoin Whitepaper Concept
Greetings Steemit People! After seeing an article for OneCoin, my mind was filled with an amazing altcoin concept. I would love to workshop my altcoin concept, RingsofPowerCoin (it seems like RingCoin is already a thing?)! Lets do this... just for fun!
> After seeing the words RingsofPowerCoin and OneCoin, hopefully your minds have gone to the same place as me... LoTR! So here is my draft whitepaper for RingsofPowerCoin:
- 20 RingsofPowerCoins (RoPC) are created at time of initiation, no new coins ever created
- RoPC are only traded in whole integer values (no fractions or decimals of RoPC)
- 19 RoPC are distributed to the each of the top most influential people in the world (i.e. world leaders and financial leaders)
- The ledger tracks the holders of the coins, essentially documenting the most influential people through the years and who they trade their RoPC with.
- 1 coin remains hidden and undistributed
- It can be claimed only after an extraordinary event or circumstance (a digital journey or quest?)
- If the hidden coin is traded in at the exchange called Mordorniex, the value of all the RoPC are destroyed.
What do you think? Any suggestions to make it more relevant for Real Life or to make it follow LoTR closer?
What are some practical implications of an altcoin like this (assuming it becomes adopted)?
Image is poorly modified (by myself) combination from https://en.wikipedia.org/wiki/Talk%3AOne_Ring and the bitcoin symbol.