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Blockchain for Psytrance - lets create the PSYcoin cryptocurrency?

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RTP    32

Hello people,

I am just doing loud thinking here ... and looking for opinions, nothing too serious, but keeping my mouth shut and telling nobody won't help either.

I'm sure the whole blockchain hype as of late has reached you too ... with that I mean, I think you know what a crypto coin is. There are loads out there ... Bitcoin, Ethereum, Dash, Monero, bla bla...
It was all going pretty steeply down lately, but so what. This doesn't need to have any effect on what I want to talk about here.

Point is, these crypto currencies - or BLOCKCHAIN APPLICATIONS - are not that hard to create oneself, where "creating" means, starting a new chain of an existing coin implementation with own Masterkey or even own implementation constraints (got ideas, let 'em hear).

Which is what could be done (Cryptonote for example ... they offer a forkable base cryptocoin implementation for a CryptoNote based coin).

And that brings me to the question: do we need one? Does the Psytrance scene have use for it? We could make the PSY coin! #PSYcoin

We actually just need a few machines in the cloud that play main nodes ... a few members with Google Cloud accounts would be sufficient to keep it running for a year for free.

So we could make the PSYcoin ... but ... what for? -> Money shall not be the reason. There are already enough other crypto currencies for that purpose.

Let's think usability. What could this scene use a crypto coin for? What shall we do with it?

The best would be if we had some kind of anchor that the coin can be tied to. In the IT scene it's for example memory (cloud storage) ... you provide memory (storage), get some coins for that ... and at a later stage you can spend these coins if you need memory (storage) yourself.

What do we have in the psy scene that compares to this?

Or maybe we don't need a coin? That's a valid result too! Opinions?

PSYcoin. Made in Austria. ;) 

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gfp1    25

if you're going to create a currency that has no intrinsic value, it would be best to name it the Vini Vici

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RTP    32

Correct, PSY already exists ... with the name "Psilocybin"
(however, no news about it since mid 2015 ... it's pretty much dead)

We must name our coin GOA then ... that is still available :D 

Or Darkpsy (DPS) ... Progressive (PGR) ... Hitech (HIT) ... ewww hitech ... anyway don't worry we find a name and three letters, won't be that hard for a man with a three letter nick ;) 

But regardless of the name, if there's not a meaningful use case, the coin will die sooner or later. No intrinsic value will just make this thing careless.
What can we do with it?

The only idea I have, which is almost too complex for my taste though, is to make this thing a token for contributions to the scene and make it redeemable for "things the scene can do for you". For example, some artists can make their albums downloadable legally for tokens, some party organizers can make the entry fee payable in tokens ... and so on.
Problem though is, who decides whom to give the tokens and so forth. Make them buyable in the form of an ICO? That's shameless in my opinion, just tieing it to greedy money ... money always fosters greed, everywhere. But completely without money it won't work ... who's gonna pay the running costs, servers and whatnot. It would be a legitimate thing that people who run the servers get a reward for it in tokens, but other than that, what can make you earn these tokens? As harsh as it sounds, what separates the people who have tokens from those who don't? Contibutions to the scene, aye, but who decides what is a meaningful contribution - a jury? Oh come on, seriously? What if the jury disagrees?
The boldest thing would be a festival that you can only go to when you pay in tokens. That would give them a value. But how elitist is that? :P

Just thinking out loud though. Got a better idea? Or something you see more positively in that idea than me?

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Starkraver    868

I think there’s enough greed in the scene, we should just let the crypto be :)

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