Econommical aspects of Vincoin

By traditional economical theories, "money" is defined as: Medium of exchange.
VINCOIN will not change that, more importantly, the definition will heavily be affirmed.

Denominations

To date, VINCOIN uses following economical denominations:

• Vinčanac (VIN)
• Lepenac (LEP)

Current setup aims to be:
1 VIN = 1_000_000 LEP
or
1 VIN = 10_000_000 LEP

No mining rewards

Using block reward as "incentive" for people to start spreading Bitcoin network proved to be degenerative perception of the free and open sourced software.

Earning, selling and buying pieces of Bitcoin is actually nowhere to be found in original whitepaper, technical documentation nor single line of code, so it can hardly be explained why most of the people assume Bitcoin actually have any market price. Specially one expressed in other fiat currencies... 😐

With that in mind, VINCOIN does not award node runners with any block reward(s), eliminating the possibility for similar destiny of Bitcoin "market offerings" and shallow perception.

Vincoin users will spread different kind of motivation to run the Vincoin nodes.

Starting amount of coins

As it is technically possible, VINCOIN will be programmed to "award" any new wallet with starting sum of VINCOINS, untill all the VINCOINS are depleted from the pool.

Vincoin wallet creation algorithms will award 1 VIN to every new wallet/user.

Advanced ZkP (insert anchor here!) scheme will assure only one coin per wallet can be given, so no duplication is possible.

Total amount of VINCOINS

Similarly to Bitcoin, VINCOIN as well has fixed amount of units of exchange in its network. Currently, VINCOIN network operates with maximum of around 11-17 milions of VIN coins.

Backed by strategic resources

As a monetary unit, created out of thin air, Vincoin will be backed by national strategic resources. Some of them include:

• food or agricultural potentials
• water resources and potentials
• wood, oil, natural gas, uranium or other energy based natural potentials
• metals, minerals or other natural potentials
• anything else that may be diagnosed as economically desirable

Check the imaginatory example of virtual island country, called V.