Hello All I am in the early planning phase of making my idea into a reality.


Hello All

I am in the early planning phase of making my idea intro a reality and I am looking for some guidance from people more in the know in terms of blockchain and crypto currencies than myself.

I will be launching a website and alongside this website I am considering either creating an ERC20 Token or forking one of the current alt coin out there to create a new standalone mineable coin that will work in tandem with this website as the main form of currency.

I am more in favour of creating out own currency rather than a token, I also don’t want to just pre-mine the coins, id like to actually form a group of miners (including myself and my partner who have 10 rigs) and mine a large amount of coins prior to launching an ICO that will fund the project.

The company has already been incorporated in the UK, we are also networking to establish working relationships within the Swiss banking and business sectors to create the correct corporate and legislative structure pre ICO.

I was hoping to get some advice on a few things.

Am I better to launch a new currency or use a crypto token?

If I go with a forked currency which is the best one to fork for mass use and the best for a team of developers to work with?

Where is the best place to hire the blockchain developers for the project should we go with a new crypto?

Would mining the crypto prior to an ICO help its value by being a coin with no external manipulation?

Any advice anyone can give me would be much appreciated.

    You look like you have set yourselves a mighty challenge 🙂

    If you’re launching “a new currency”, perhaps check out what that means in your country from a legal perspective.

    A token however, depending on how it is set up and sold, may offer a way to not break key current legislative requirements relating to “currency”. Clearly, I suggest, find qualified and suitably experienced legal advice.

    One place from which you find suitable blockchain developers includes Angel List: https://angel.co/talent-hacks/how-to-get-a-job-at-a-crypto-startup. However, lots are already busy in the space.

    I”m not sure about your other two questions: lots of variables to consider.

    Edited on October 09, 2017