Nutcoin Decentralized Cryptocurrency
- Copyright (c) 2009-2013 Bitcoin Developers
- Copyright (c) 2011-2013 Litecoin Developers
- Copyright (c) 2013-2014 Nutcoin Developers
What is Nutcoin?
Nutcoin (NUT) is a fast version of Bitcoin and Litecoin. It uses scrypt as a proof-of-work algorithm, massive supply for everyone, and a simple stabilization mechanism to limit speculation effects.
- 40 second block targets
- 20000 coins per block
- subsidy halves every ~6 months
- difficulty retarget every 180 blocks (~2 hours)
- supply: 92 000 000 000 (92B) coins
What is the innovation?
- Anti-scarcity: 92 billions on coins will be delivered in the next 10/15 years
- Designed for easy CPU mining: NUT will ever be the fastest coin to mine
- Value stabilization via innovative APDTC system (Anti Pump/Dump Transaction Control) to avoid market manipulation (EXPERIMENTAL IMPLEMENTATION)
An economic principle in which a limited supply of a good, coupled with a high demand for that good, results in a mismatch between the desired supply and demand equilibrium. In pricing theory, the scarcity principle suggests that the price for a scarce good should rise until an equilibrium is reached between supply and demand.
However, this would result in the restricted exclusion of the good only to those who can afford it. If the scarce resource happens to be grain, for example, individuals will not be able to attain their basic needs.
This is what is happening with Bitcoin. The experience told us that the value of a currency is defined by its popularity, by the faith, trust, and by what you can buy with the money to eat and to survive. It is not about its scarcity. 90% of the world population will not be able to get 1 BTC, so Bitcoin will never change the world.
Why another "copycoin"?
Nutcoin is not a copycoin, it was designed to have a real value based on the "real world" necessity to buy goods, services, food, coffee or nuts, hence the name. If Bitcoin is the new gold and Litecoin is the new silver, then Nutcoin is the new liquid cash.
Nutcoin is faster than all other available crypto-currencies, it's secure, and has enough supply of coins to feed the entire planet for the next 15 years. We design it to challenge the US Dollar marketcap by 2024, the main reason we created Nutcoin.
Total market capitalizations:
It is estimated that only 2% of all US Dollars in existence are in paper money and coins. The other 98% is digital. Bitcoin's scarcity and its $10 billions market is negligible in comparison with the "real world" market caps.
- Bitcoin: about $10 billions USD
- Total of all publicly traded companies in the world: about $50 trillion USD
- USD marketcap: $11 trillion USD by the end of 2013
- NUT target $1.3 trillion USD market cap by 2024
Nutcoin Massive Planet Supply Plan + APDTC
2014 : + 7 776 000 000 more coins --> 1 NUT = ~ $0.0001 USD recommended value : + 3 888 000 000 more coins 2015 : + 1 944 000 000 more coins Transaction Limit: ~ 50 000 NUT : + 972 000 000 more coins 2016 : + 486 000 000 more coins Transaction Limit: ~ 100 000 NUT : + 243 000 000 more coins 2017 : + 121 500 000 more coins Transaction Limit: ~ 200 000 NUT : + 60 750 000 more coins 2018 : + 30 375 000 more coins --> 1 NUT = ~ $1 USD recommended value : + 15 187 500 more coins 2019 : + 7 593 750 more coins Transaction Limit: ~ 800 000 NUT : + 3 796 875 more coins 2020 : + 1 898 437 more coins Transaction Limit: ~ 1 600 000 NUT : + 949 218 more coins 2021 : + 474 609 more coins Transaction Limit: ~ 3 200 000 NUT : + 237 304 more coins 2022 : + 118 652 more coins --> 1 NUT = ~ $10 USD recommended value : + 59 326 more coins 2023 : + 29 663 more coins Transaction Limit: ~ 12 800 000 NUT : + 14 831 more coins 2024 : + 7 415 more coins --> 1 NUT = buy something that worth $15 today : + 3 707 more coins (...)
That's it: even if you have the chance to mine 72 millions of NUT the first weeks, you will not be able to make big transactions or withdraw more than 50 000 NUT. This simple mechanism is the real innovative approach of NutCoin, and it will avoid large and massive buy/sell orders to manipulate the value of the currency. For now, APDTC is still experimental and will be set manually by the NutCoin developers.
How to get NUT?
It is not recommended to trade NUT in online exchanges (like btc-e, cryptsy etc.) before the currency is widely used and well established. We will do our best to widespread the currency to online and local merchants. We hope NUT value will stay correlated to "what you can buy with it". The recommended price for 1 NUT should be around $0.0001 USD, it should not rise to $1 value before 2018 and we recommend maximum $10 by 2022.
Nutcoin is released under the terms of the MIT license. See
COPYING for more
information or see http://opensource.org/licenses/MIT.
For more information, as well as an immediately useable binary version of the Nutcoin client software, see http://nutcoin.thehouseofdiem.info/