
Grantcoin – Cryptocurrency backed by a basic income non-profit - RangerScience
http://www.grantcoin.org/
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RangerScience
Anyone heard of these guys yet?

I couldn't find any prior mention of this coin on HN. It looks like an
interesting idea - proof-of-stake, UBI-style distribution - where the
Grantcoin Foundation uses it's funds to "back the value of Grantcoin currency
on markets where it trades" \- but I can't find a more detailed explanation of
what that means.

(There's a few longer documents on their page I haven't had time to go over -
maybe in there?)

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gus_massa
This remind me too much to Auroracoin.
[https://en.wikipedia.org/wiki/Auroracoin](https://en.wikipedia.org/wiki/Auroracoin)
I'm not too much optimistic ...

"back the value of Grantcoin currency on markets where it trades" probably
means that they use the money of the foundation to buy the coins to try to
avoid a sharp reduction of the value. I doubt they have enough money to keep
the price > 0.

