6. Start Coins

6. Start Coins

Detailed Description of the 1CoinH Technology

When Does It Start?
Every person receives 1 coin per hour. But at what moment a person starts to receive his coins? To keep things fair and simple we’ve chosen January 1st, 2022 at 01:00 hour to be the moment everyone receives his first coin, unless you are born after that moment. When you are born after January 1st, 2022 at 01:00, you will receive 1 coin per hour from your birthday, also at 01:00 hour. This means for all people (outside the newborns) that – should they start using the 1CoinH for example 200 days after January 1st, 2022 at 01:00, they would start with 24 x 200 = 4800 coins.

Birth Hour
In the blockchain, the first number in the Initial string is the birth-hour, calculated with January 1st, 2022 at 00:00 as zero. All the hours a person lived before this “moment zero” are calculated and stored with a minus sign. All births after “moment zero” are positive. With the “birth-hour” number, the open source smartphone app can easily calculate the coins each person has created or as we say: “self-originated”.

Immediate Depreciation
It needs to be noted that the start-coins will all be depreciated immediately. This can be done in a Javascript loop from “moment zero” to the current hour:

var owncoin = 0
for(i = 0; i < hournow; i++)

Still Have Questions?

The 1CoinH / Ethical Money system is nothing like we have ever seen before. We can imagine you have plenty of questions left.

Please don’t hesitate to ask us. It also helps us to understand what we haven’t explained well enough.