Topic: #IPO & ANN Analysis @GryfenCoin #crypto like #bitcoin with #Options Game #RT!!!!

[devnullius]

Is this an option GAME still, or the real deal being implemented ahead of schedule??

Fud? False promotion? Real deal?? On @GryfenCoin options market you use that knowledge in your favor: buy put & short options!
@BryceWeiner

https://twitter.com/devnullius/status/500398878546739202

[Zigbs]

Technically it's a game/simulation that will transition into a "REAL" options market 30 days after launch when the coins will be listed on exchanges(and we start exchanging as well) - that's the only difference really.  You can buy, send, and receive GryfenCoin inside the app to other wallets or from other GryfenCoin wallets.   

[devnullius]

FROM: https://docs.google.com/document/d/1Cb27iZo6CKFaGWit4dT34ptTs26sWsbdvYy0jwtNgnc/edit

GryfenCoin
Ticker: $GRYF
Launches August 20th, 2014

Official Websites: http://www.GryfenCoin.Com , http://www.GryfenCo.in , http://www.GryfenCryp.to, http://www.Gryfx.com

https://docs.google.com/document/d/1Cb27iZo6CKFaGWit4dT34ptTs26sWsbdvYy0jwtNgnc/edit?usp=sharing

http://www.slideshare.net/tylerdylan/gryfencoin-pitchdeck

GryfenCoin seeks to bring randomness and true decentralization to cryptocurency. Other coins only offer excitement from market fluctuations and that’s usually caused by pump and dumps. We will rise above that with unpredictable, non-systematic changes in difficulty and block reward, block bonus zones and super blocks. Not only that, but we will ebb and flow with the market trends and modify our plans to reflect the situation on the ground - what is actually happening - vs. what some whitepaper or mathematician thinks is going to happen. (See Lean Startup, Eric Ries ; The Startup Owners Manual, Steve Blank; Lean Analytics, Alistair Croll & Ben Yoskovitz)
IMPORTANT READ OUTLINE BELOW, ALL TEXT IS COLOR CODED

Tables of Contents
1. Full Features List
2. Proof of Work
3. Proof of Stake
4. Mining/Super Faucet
5. Options Market
6. Coin Supply
7. GryfenVault
8. GryfenCoin Shares
9. Future Plans/Third Party/Misc
10. Social Media/ About us



1: Full Features List

Blake 415 Algorithm (Blake + X15 with 4 random selections of X15 Algo)
1 Trillion Coins
Block Time 60 seconds
110 confirmations for blocks to mature
Proof of Stake Interest: 2.5% per month, 24 hour minting cycle.
Fluctuating Difficulty Level with SuperBlocks, Bonus Zones, Regular Blocks
Block High End Halving Yearly:
1st year:  [50-50,000]gryf
2nd year:  [50-25,000]gryf
3rd year:  [50-12,500]gryf
Etc…

Difficulty: Like Bitcoin, but changes every block.
Premine: 0.25% reducing to 0.025%-0.050% to fuel and back the options market.
If account overflows past 0.050%, it will overflow to users via the Super Faucet.
Interest staked from Premine account sold to users in weekly shares with future coin deliveries to fund development.
Premine of 0.25% (with reduction) will back Gryfx.com Options market with 0.05% House supply limit.

Mining confirmation and transaction fees:
Miners keep 50% Transaction fees
25% go to users in super faucet
25% goes to back GryfX Options Market

Backed by Gold & fueled by daily exchange microtransaction fees!
2,500,000,000 2.5 Billion Coin Premine

We sell GryfenCoins & weekly shares on GryfX: Coin proceeds only go to physical backing with proof. Share proceeds go towards development.

2: Proof of Work

Summary of our Proof of Work mechanism


Why Blake 415?

Our Algorithm uses the newly created Blake 415 - extremely secure and energy efficient (compared to SHA-256 and others), but to differentiate ourselves from the horde of other clone X15 PoW/PoS coins.

With every block there are 4 algorithms chosen at random, with duplicity, for only 4 rounds of hashing compared to the traditional 15. Functionally, this doesn't sacrifice much, but it is more energy efficient and arguably just as effective at securing a blockchain. There's a possibility of over 1,365 combinations of hashing.





3: Proof of Stake



CPU mined. No GPUs; No ASICs - Algorithm will be subject to future changes to ensure differentiation

Block Rewards halving yearly, as follows:
1st year:[50-50,000]GFYF
2nd year:[50-25,000]GRYF
3rd year:[50-12,500]GRYF
ETC...

2.5 Billion Coin Premine(0.25%) -> Transparent Addresses with trade histories are only used to back options market -attracts lots of traders with a good early adopter bonus

2.5% Billion at 2.5%/month, with 24 hour stake time.

0.05% Maximum Limit of total supply of coins held by House Options Market. If GryfenCrypto account overflows past 0.05%, it will overflow to users via the Super Faucet. This is to create a flow in the coin supply to bring balance to individuals and market actors across the network. Brings inflationary and deflationary pressures into the market to stabilize market forces.
 
Block difficulty will trend upward over time but fluctuates randomly
Proof of Stake Block Rewards will also Fluctuate Randomly while Trending Upwards



4: Mining/Super Faucet


Mining confirmation and transaction fees:
Miners keep 50% Transaction fees
25% go to users in super faucet
25% goes to back GryfX Options Market

Super Faucet




5: Options Market

Our Coin Options Market will be a combination of investing, gaming, and betting. You will be able to buy Gryfencoin-backed options such as futures, puts, calls, and shorts, while our application will draw elements from racing and traditional options markets. It will help regulate altcoin prices, allow for greater depth in crypto-monetary markets, and create decentralized financial instruments that anyone with a computer, iPhone or Android can use. Fun is guaranteed.
Option market fees in GryfenCoin are sold to users or on exchanges with the proceeds going to bitcoin or other crypto that then is used to purchase gold/silver/rem that grow and gradually back the supply of GryfenCoin. This will begin with the first 0.1 BTC of revenue and be ongoing.



   
2.5 billion Premine will be distributed to kick off Options Market. Supply held by House to back Options Market will never exceed  500 Million (0.05% of total supply) or be lower than 250 million (0.025% of total supply)



6: Coin Supply

Supply of GryfenCoin for first two-three months



7: GryfenVault

The purpose of using an actual stored value mechanism is to insure no fractional reserve lending, no "Mt. Gox" incidents, no losing your money. Period.  We will conduct public monthly audits and with the inherent upwards price pressure due mining, electricity and infrastructure used (like Bitcoin), there will be the added value to the GryfenVault.



8: GryfenCoin Shares

Buy GryfenShares as part of IPO and future operations. Supply of Minted Coins will fluctuate randomly but trend upwards.

2.5% interest of Starting premine of 62.5 Million is sold off in 20,000 shares at 0.0002BTC per share, with each share yielding 3,125 GFRYF, giving a total marketcap initially of 4BTC for GryfenCoin.

Share sales will continue every week afterwards, yet number of GryfenCoin will fluctuate due to amount of GryfenCoin held with GryfX House Option.


9: Future Plans/Third Party/Misc

In-Progress Plans:
Web Trading App, Android App

Future Plans:   
GryfenMultipool - Web based multipool
Based on Node.js
Mines Low/No Value altcoins, trades them for btc, buy gryfencoins from exchanges
Secure, recordless, instant transaction through proprietary coin mixing platform built on GryfenCoin
Exchanges:
Not listed on any exchange for first 30 days

Pools:
Only CPU mining at first, pools developing from community/future action.


10: Social Media/About us

See here for GryfenCoin Pitchdeck
http://www.slideshare.net/tylerdylan/gryfencoin-pitchdeck

If you want to get involved and purchase GryfenShares please visit the link below!
http://www.GryfenCo.in/register.html

Social Media:
Twitter: @GryfenCoin
Facebook: GryfenCoin
Reddit: r/GryfenCoin
Contact: GryfenCoin@Gmail.com

[Zigbs]

Thanks for posting!

We have updated our specs and are in the final stages.  Good things to come

[devnullius]

Gryfencoin has launched!

Expect some more updates later... RL tasks first!

Devvie

[Zigbs]

Hey everyone!  It has been nearly three weeks since our last update on here.

We're working on getting the GryfX app up as soon as possible - we had it nearly finished in PHP and then we started having some very bad errors...we didn't want to pull a GOX...and we decided to trash it and rebuild it in Java(which will take less time).

Long story short we're looking towards an October 1 release date and we'll be iteratively adding features from then on out.   

We're looking for someone to make a web based block explorer, an android wallet and a paper wallet for GryfenCoin and will give big bounties(1,000,000GRYF+) plus I will give away a 5,000,000GRYF bounty if you make a game that uses GRYF in some way; for reward and so you can back it.

Give me any suggestions - we're open to hearing it.  We're working on a solution to the difficulty adjustment and one is close. 

If you want to continue to support us you can still purchase coins OR you can purchase shares.


PREMINE/VAULT interest
Class A shares
2,000,000,000
50 million/mo
1,000 shares
$20/share
50,000 Gryf
or 0.04 BTC  18k4GcpEngXkDBn8HS7kh229WdN2U15M47 & email GryfenCoin@Gmail.com
Buy Gryfen Class A Shares
Class A shares give you gryfencoins each day and every day, for a month based on the steady interest of 2 Billion Coins - the gryfX House Account Backup
With Class A shares you’ll get coins every day as the interest compiles - this will give you a safe and steady stream of coins to play the Options Market with - also preventing you from going bust and spending all your coins.  By purchasing Class A shares you’ll help fund the GryfenCoin-gryfX team.  We’ll be able to hire on new members, add new capabilities, and take the coin to the next level.


GrfyX Non Liquid Account
Class B Shares
450,000,000
11.25 million coins produced /mo
1,000 shares total
$4/share
11,250 GryfMax
or 0.01 BTC 18k4GcpEngXkDBn8HS7kh229WdN2U15M47 & email GryfenCoin@Gmail.com
Buy Gryfen Class B Shares
Class B shares give you coins each and every day for a month based on the variable interest on the gryfX House Account(varying between 200 Million and 450 Million). Because the account varies so much the shares are sold at a discount initially and then priced with the market.   They still deliver coins every day as the Class A shares do but the number of coins can vary day by day with the amount of coins gryfX pays out to users.  By purchasing Class B coins you help us build GryfenCoin and gryfX and take them to new levels.  With your help we can grow our team, our community, conduct more tests and keep barreling forward.


$1 -> 2500 GRYF    0.0001 BTC -> 1562.5 GRYF
18k4GcpEngXkDBn8HS7kh229WdN2U15M47
Buy GryfenCoins directly from us
Want to mine GryfenCoins but don’t have the hardware, or don’t know how, or you don’t want to deal with the heat and electricity?  Proof of Stake is for you.  Earn coins through simple daily interest by keeping your wallet online - every 24 hours interest is delivered.
You will get rewarded with regular rewards and returns by being a part of the GryfenCoin economy.  Purchase GryfenCoins from gryfX , help back the blockchain with Gold, and become a stakeholder in the next digital economy.
Coins are from the gryfX House Account and revenues receives are used only to invest in the coin itself.  Funds received are used to purchase Gold & other rare earth metals to back the coin.  You can set up recurring coin purchases and lock in at a monthly rate with us.
Use GryfenCoins to buy, sell, trade and use options on gryfX to make even more GryfenCoin that you can withdraw and then trade for Bitcoin.

On launch we will be offering recurring billing through paypal and some other systems, if you decide to go recurring you'll get bonuses and extra coins for being not just an early adopter but a long term believer as well.

We need new miners and more miners please MINE GRYF!!!

[devnullius]

Welcome back Gryfen! 

Don't worry, we haven't forgotten about you, not at all!

We really appreciate the updates...! But...

I don't understand these numbers...?

PREMINE/VAULT interest
Class A shares
2,000,000,000
50 million/mo
1,000 shares
$20/share
50,000 Gryf
or 0.04 BTC 

[Zigbs]

To show everyone where the money is coming from.

1 Month Class A shares come from 2 Billion GRYF that don't really move or won't move for some time.  Class A shares are based off of the interest generated by those 2,000,000,000(I know so many zeroes)Billion GryfenCoins.
They're the most stable.

1 Month Class B shares are discounted in price and come from the 200-450 Million coins held in direct reserve for gryfX's market.  There are 50 Million coins held liquid for payouts - and any time it drops below 50,000,000 we pull coins from the Class B reserve of 200-450 Million coins.
So they're the same thing as Class A shares - Just the balance they draw their interest from varies during the time period.
These can profit the most.

In time we will reduce Class A to zero, and Class B shares will be the only ones that remain and the shares distribution will be redone - but that is after the "Trader Distribution" occurs and the 2 Billion Class A coins are gone.

And thanks for the warm welcome
I plan on being a much more active member of your forum from here on out

[Zigbs]

We've already started selling the Class A shares but honestly the Class B shares are probably a better deal right now because I don't personally see the balance changing too drastically in the first month.

We'll also be including some trading of other altcoins - including the relaunch of HTML - HTML5 - on our site.  If you have some other altcoins and are looking for someone to unload them we will buy them with GRYF from you.

[devnullius]

(replaced the original [ann] + IPO analysis with most current, latest [ann] - IPO has proven to be legit )