All About CloudCoins
- 1 What Makes CloudCoins a Viable Money?
- 2 How Many CloudCoins Are There?
- 3 Can the number of CloudCoins grow?
- 4 Can there be fractions?
- 5 Denominations
- 6 Default Images
- 7 Custom Images
- 8 Release Schedule
- 9 What about Change?
- 10 Value of CloudCoins
- 11 Buying and selling CloudCoins
- 12 Anatomy of a Legacy CloudCoin
- 13 Powning (Password Owning)
- 14 Storing CloudCoins
- 15 Sending CloudCoins
What Makes CloudCoins a Viable Money?
Monetary Systems are Information Systems that allow us division of labor (The ability for each of us to specialize). Monetary systems do this by keeping track of who produced value so that they can consume value. Money is data. Like all data, money takes up space and must have integrity otherwise it will be no good.
According to Worthington's Theory of Perfect Money, money must have three general characteristics:
Specific characteristics that make perfect currency:
- Trades instantly
- Trades over any distance
- Trades at any time of day
- Costs nothing to trade (no fees)
- Requires no usernames, passwords or accounts
- Does not record any information about transactions
- Cannot be lost permanently.
- Cannot be stolen
- Must have Data Supremacy. Data Supremacy is when no governments, hackers or even the creators can alter data or bring down the whole system.
- Quantum safe
- Fixed supply that can not be inflated
Data Supremacy "Data Supremacy" is a term coined by CloudCoin Creator Sean Worthington to describe databases that have no owners and cannot be brought down by force. The first database to achieve Data Supremacy was the DNS root servers in 1985. The DNS root servers are used by billions of people every day and the root servers as a cloud have never gone down since the day they were created in 1985. No one noticed that the DNS root servers had achieved Data Supremacy or the significance of this. The DNS root servers are spread out over the world in different jurisdictions and administered by independent organizations.
The second database to achieve Data Supremacy was the Blockchain invested in 2009. This allowed for the first digital currency to have physical integrity.
The third database to achieve Data Supremacy is the RAIDA (Redundant Array of Independent Detection Agent) invented in 2016 by Sean Worthington.
CloudCoin is designed to be a milestone in human development. It is the next generation of currency based on new philosophical thinking about how money should be:
- A monetary system is an information system. Like a database that tracks how much we contribute to the economy and how much we should get out.
- Money is data. We people are like rows in a table. But, instead of having number in cells, we have tokens in our pockets. We create a physically implemented database and money represents the data.
- Good money is the same as good data. We can apply the laws of databases to monetary systems. Because of this understanding, computer scientists were able to design CloudCoin to be perfect. It certainly is the most perfect currency ever created.
- The most important component of a monetary system is the human brain. Money is used by humans to economize. Our brains use math to calculate the best course of action. We examine prices, compare them to savings and project based on earnings.
- Without good money, our economies would collapse. Money is the glue that organizes society. Good money makes good society.
- The value of money does not come from what it is made of. The value of money is based on how good of data it is and how well it allows us to make good economic decisions. Good money is true. Good money has integrity: phyical and logical.
CloudCoin is nothing like Bitcoin and runs on a very different underlying technology. Instead of using Blockchains, CloudCoin uses RAIDA (Redundant Array of Independent Detection Agents). This technology and associated processes have patent pending status with the United States Patent office and the words CloudCoin have been registered (applied for) as a trademark. CloudCoin is the first easy to use currency that will allow people to make purchases while sitting at their computers or cell phones using cash. There are only 168 different currencies on the planet today. If we are correct in our assumptions, CloudCoin will be the dominate currency within a decade.
How Many CloudCoins Are There?
There are two versions of CloudCoin. The legacy version had 1,428,160,512 CloudCoins or roughly (1.4 billion). However these coins can be converted to CC 2.0 at the rate of 85.125 legacy coins to the 1 new coins. This change was reduce the number of coins to 16,777,216 so that the value of CloudCoin would be closer to $1 or 1 Euro. Legacy CloudCoins were minted in August 2016. This is called the "Zero Month."
Can the number of CloudCoins grow?
The number of CloudCoins is fixed but there is one way the number can increase. It is called "splitting." This is part of the built-in CloudCoin protocol. The protocol requires that if the value of CloudCoin be sustained at $2 or more, that the infrastructure must be cloned enough times to bring the value down. We can take the entire RAIDA infrastructure and clone it. By doing this we achieve many good things and the value of CloudCoin will actually go up. First, each person's CloudCoins will split in the same fasion.
Suppose the price of CloudCoin went to $2.10. The Consortium advises the RAIDA to clone 10 times. So that there will be 10 clones. The infrastructure will then grow by 10 and so will the administrators. So there will be 10 times the servers and ten times the RAIDA admins. Each owner of CloudCoin can then run a splitting feature that will be published in the CloudCoin Core software in the future. The user will then find that they have ten times the CloudCoins.
Like stock splits, the increased amount of CloudCoin should bring the value down to 1 tenth. Or from $2.10 to $.21. But it is doubtful that this will really drop the value that much because the smaller units of account should make CloudCoin easier to use. The increased network infrastructure will add fault tolerance to the whole system as well as improved performance. So the total value the people have will go up.
Can there be fractions?
Yes. But we are trying to avoid this for now. We have CloudBank software that allows there to be CloudCoin banks and these banks can issue fractions of CloudCoins. These fractions would be good only at the banks that issued them but could be quickly converted to whole CloudCoins assuming you had enough.
Legacy CloudCoins have Denominations. CloudCoin is able to have denominations in the future. Denominations allow for more efficient storage, transportation and authentication.
For CloudCoin Legacy, there are:
- There are 2,097,152 Ones
- There are 2,097,152 Fives
- There are 2,097,152 Twenty-fives
- There are 8,388,608 One-hundreds
- There are 2,097,152 Two-Hundred and Fifties.
You can tell what your Legacy CloudCoin is worth by looking at its serial number:
1 through 2097152: Ones. 2097153 through 4194304: Fives. 4194305 through 6291456: Twenty-fives. 6291457 through 14680064: One Hundreds. 14680065 through 16777217: Two Hundred Fifties.
CloudCoins can be embedded in any jpeg. This makes them fun and marketable. Just drop you custom jpegs into your template folder and rename them to the standard names. For example, if you want a image to be used as at 250 notes, you must rename it jpeg250.jpg. When you export your jpegs, you will see the serial numbers printed on the front.
The Legacy CloudCoins were divided into 60 tranches. One tranche is scheduled to be released every month for 5 years 60 months). The first tranche as released January 2017. The last tranche will be released December 2021.
The largest denominations will be released first.
Amount of CloudCoins Released:
January 2017 23,000,000
December 2017 285,632,102
December 2018 571,264,204
December 2019 856,896,307
December 2020 1,142,528,409
December 2021 1,428,160,512 (All CloudCoins Released)
December 2022 1,428,160,512 (No Change)
What about Change?
Suppose you want to buy something that costs 100 CloudCoins but you only have a 250 note? CloudCoin software will take your 250 note and send it to a change server and return to you smaller denominations. With CloudCoin, change is handled automatically and transparently. Although it has not been implemented yet, the CloudBank software is now under development and is expected in November 2017. It will take less than four seconds for your application to send your CloudCoin to the CloudBank and have them returned and ready to spend. Much easier than physical change. Unlike physical change, the buyer will get the change instead of the seller.
Value of CloudCoins
No one individual sets the value of CloudCoin. They are worth different amounts to different people and this value can change dramatically over time. Right now CloudCoins are worth something to some people. The value of CloudCoin will always be based on Supply and Demand. There is no limit to how high or how low CloudCoin can be worth. The value is set by the Market.
Buying and selling CloudCoins
How can I exchange my CloudCoins for the money used in my country?
CloudCoins are much easier to buy than Bitcoins, gold, silver and money foreign to you. There are no exchanges that require months to sign up for and no software that takes 24 hours to download. And you don't have to leave your house! CloudCoin is designed to allow people to buy within minutes.
However, selling is more difficult. This is why you should not see CloudCoin as a short term investment if you do not know how to sell things on the Internet. There is no exchanges for CloudCoins yet. You can sell your CloudCoins with a few hours of effort. You can sell your CloudCoins to anyone in the world at any time - day or night. I challenge you to name one thing that is easier to sell than CloudCoins. It is Ok if the people who buy your coins must wait for you to process the order. It's excellent if you can automatically process orders!
There are already thousands of web sites on the Internet in every nation that are ready to sell your CloudCoins for you. These websites specialize in selling digital property.
People go to a website that you have an account with They buy your CloudCoins with money that you want. You get an email with the order and showing that they have paid Then you fulfill the order! Now you have money from your country in your account.
This is what we call a CloudCoin Sales point. You are selling Jpegs and JSON files (CloudCoins). You will never have to go through an exchange and you can set your own price.
Here are some example we use in USA: Easy Digital Downloads Selfy.com Send Owl GumRoad WooCommerce Digital Downloads E-Junky PulleyApp Digital Produce Delivery Fetch App
Anatomy of a Legacy CloudCoin
|NN (Network Number)||To start with must be 1||Could increase later if CloudCoins Split|
|SN (Serial Number)||1 through 16,777,215||The SN determines the denomination (1,5,25,100 or 250)|
|AN (Authenticity Numbers)||GUID without hyphens (e.g. f451c86363da406cb23674b9e3987694)||There are 25 of these|
|AOID ( Array Of Idiosyncratic Data )||Array of key/value pairs||Optional. Used to make CloudCoins extensible.|
|POWN (Last Pown results)||25 symbols, u (unknown), p (pass), e (error) or f (fail) like 'pppppppfpppppppeppppppppp'||Optional. Used to show the RAIDA status the last time the money was checked for Authenticity (may not be true)|
|Expiration Date||An integer that represents the number of months after August 2016 (zero month)||Optional. CloudCoins must be checked for Authenticity every two years because they are scavenged every two years for lost CloudCoins.(may not be true)|
Powning (Password Owning)
Steps to Powning (password owning)
1. User puts images in the import folder
2. The import process takes the jpegs and stack files and breaks them into single stack files. These are placed in the Suspect folder. The original files are moved to the Imported folder for reference(A). If the files are malformed, they are moved to trash (B).
3. The Authenticity Detection process is run on each note in the suspect folder. They are moved from the drive to RAM one at at time so only one coin will be lost if the power goes out or the process is interpreted.
4. The coin's information is sent to the RAIDA and a pass / fail is returned.
5. If the coin does not fail any RAIDA nodes, it is moved to the Bank. If a minority of RAIDA say it is Counterfeit then it is moved to Fracked folder. If a majority of RAIDA say it is counterfeit it is moved to the Counterfeit folder. If there are less than 16 RAIDA that respond, the coin is put back in the Suspect folder and be detected again later. The suspect folder is usually checked when the program starts to see if there are unfinished coins that need to be detected. The detection process will also look in the suspect folder the next time the user imports coins. If coins are fracked, a background process will fix them with the RAIDA and put them in the Bank.
6. The CloudCoin in the Bank folder are all authentic and perfect. When it is time to spend the coins that will be exported. Exporting removes the files from the bank and puts them in the export folder. During the export of jpg files, image templates are drawn from the template file. These templates can be customized.
7. The files in the export folder should be sent to where you want them to go and then deleted. If you do not delete them, you may accidentally try to spend them again and they will be counterfeit.
CloudCoins are real money - the best ever created. They need to be treated like they are important and you will need to take steps to make sure things are done correctly.
In traditional monetary systems, the people who "have" the money own it. With CloudCoins, the people that "know" the money own it. When you first receive them, you and the sender will have copies of the coins. In order for you to own these coins you must pown (password own) and change all the internal authenticity numbers so only you have them.
This requires software to contact the RAIDA and make the changes. If you are have a large amount of CloudCoins, it is recommended that you use the program that was written for the Investors: Investors Edition. Or a program that was written for the Founders: Founders Edition. These programs are free to download for Windows and Mac. You should only use the Android and iTunes app if you have no other choice. There are several other software packages that are much more risky and should not be used except for experimenters. These include Web Safe and Scan Safe.
We are happy to be on Skype or on the phone during this process to help you through it. Call 1(530) 500-2646 or email CloudCoin.Help@gmail.com or CloudCoin.Help@Protonmail.com (for encrypted service)
We suggest: 1. Watch the video on how to use Founders Editon:https://www.youtube.com/watch?v=ulKRxoLUfe4&t=77s
2. Leave the stack files in your Protonmail account until you are ready to pown them (password own).
3. Download your CloudCoin Founders Edition on a secure computer. For maximum protection, I would suggest you buy a windows computer for less than $500 at Best Buy. Then install the Foundation software, pown your coins, and then take the computer offline and put it in a locked closet or safe. No one can steal your CloudCoins if they are offline and phyically secure. Disable all anti-virus software first because it may try to attack the Foundation software.
4. After you download your Founders Edition, you will need to extract it (unzip). You can do this just by right-clicking it and choosing extract all. Place your unzipped Founders Edition on the desktop. It will create a folder called Release.
5. Download one of your stack files and place it into the "Import" folder within the Release folder. Then start the Founders.exe program by double clicking on it.
6. When the program opens, it will test to see if you have connectivity to the RAIDA Clusters. They should show up in green. If most of them are red, you cannot pown the CloudCoins. Make sure your computer is connected to the Internet so they are green.
7. Type command 2 (Show Coins) to verify that your bank is empty.
8. Type command 3 (Import) to start importing. Your coins will be moved to the suspect folder and then they will start powning. This process will take between 15 and 30 minutes per file. It maybe that some of your coins are fracked. You may simpley fix fracked to repair them. If there are counterfeits let me know.
9. Now do the same for all your other stack files. It is best to do them one at a time.
At the end you will have your bank folder and you can verify this by using the Show Coins command.
For additional security, you may want to export your CloudCoins in stack files (like stacks of 100 coins) and move them to a secure server in Switzerland.
I would suggest SecureSafe.com. They allow enough free storage so you do not have to pay for it. Use passwords you can remember.
Important, CloudCoins need to be authenticated once every two years otherwise they will be considered lost. You will need export your coins and reimport them into your bank every two years.
Let us know if you have any questions or concerns. Support: CloudCoins@Protonmail.com
If you accidently destroy or lose your Cloudcoins, they can be recovered in two years. Send your serial numbers and the month lost to CloudCoins@protonmail.com Subject: Lost Coin Report.