Guncoin is the new digital currency that is currently being actively developed by the gun enthusiasts for the gun enthusiasts. The niche that this rookie wants to occupy is gun-selling and… that is actually everything that could be filtered from the scraps of information that is given by the developers.
The Guncoin (or simply GUN) team started the development of the cryptocurrency this January and have been working on it ever since. The people behind the wheel of production remain incognito, only the name of the person behind the fundraising campaign is known, though I was not able to find any definitive trace of him.
The digital coin uses the Scrypt Proof-of-Work algorithm which is recognized by our common readers as a working principle behind the Litecoin. The standard specifications can be viewed on their web-page.
10% of the all coins would be pre-mined by the developers, the rest of the 500 million GUN are meant to be mined by the gun traders. The former are to be paid to those who decided to support Guncoin through the fundraising campaign.
Speaking of the latter, it asks for a $130,000. Nice heap of money for the very murky description that is provided. Not that it’s extraordinary it’s just optimistic.
The coin is to launch on the 1st of May this year and as I am writing this article there are 32 days before the digital coin would be available for the masses. The current amount of money raised did not even reach half the percent of this sum.
Certainly the sudden explosion of popularity could make the process of gathering fund exponential, but let’s not get ahead of ourselves. Besides, the web page states that even if the target amount would not be raised, they would still launch the thing, with some cut features.
Another day, another coin. Don’t get me wrong, I love see the expansion of the cryptomovement in different directions, but even then I a more inclined to Gavin Andresen point of view, who sees altcoins as an epidemic in the crypto-ecosystem.
I’m not even asking, how would it be legally possible to buy a gun with a cryptocurrency. No, I’m more interested in knowing, why would you need another digital coin to do so. What’s next YogurtCoin to buy dairy products?