Indonesia, or known as Republic of Indonesia is one of country in South East Asia.

A big archipelagic
country compromising 18,307 islands. With over 238 million people, Indonesia is the world’s fourth
most populous country. There are around 300 distinct native ethnic groups in Indonesia, with more than
700 living languages are spoken here. The country has abundant natural resources, yet poverty remains
widespread.

As the name suggest, IndoCoin is aimed towards Indonesians. IndoCoin will be launched on 21 May
2014, it is a special day for Indonesian known as Indonesian Reformation Day, I hope that Indocoin
would reform Indonesia in payment system. As you know, Indonesia is still underdeveloped in terms of
technology compared towards other South East Asian countries. Indonesia is a very big country, yet is
small at the same time. Bitcoins, or crypto currencies technology are still not widely known here, this is
due to the lack of internet penetration (though, 70 million new internet users will come by next year in
2015), lack of resources, and as you know information regarding crypto currencies, how they works, and
such are mostly written in English. This is one of big barriers that prevent Indonesians from knowing
more about crypto currencies. If I remembered correctly, bitcoin was almost banned here, but thanks to
another Indonesian fellows here, it was solved now. Bitcoin still being seen as a very scary stuffs here,
I’m sure that’s because of the lack of understanding on how the crypto currency works.

I strongly believe that crypto currencies, are the most democratic form of money. It’s open source,
everyone can take a peek on the codes, and everyone can contribute. I believe that, crypto currencies
would be beneficial to Indonesia and should not be seen as a threat. Today, most of Indonesian here still
use bank as a form of payment for their online purchases. Such as Kaskus, Indonesian biggest forum
boards, most of people here buying and selling stuffs via Bank. And there are many banks here, and you
are lucky if the seller have the same bank as you are using, if the banks are in different network, be
prepared for additional fee. Even though Internet Banking here is pretty widely used, it is not that
reliable. They don’t open 24/7. If I’m not wrong, Bank Mandiri (the bank I’m using) Internet Banking is
closed every day from 11PM-3AM, so if you want to send money during this time, guess what? You’re
out of luck. People here still relies heavily to the bank. Oh and I almost forgot, you ever heard about
Bank Century? Whose fault? Who knows, all I know, people lost their money, and some went crazy and
some committed suicide. Big mess.

Crypto currencies would solve most of these problems. It’s fast, with a very low transaction fees,
available 24/7 whenever you need, transparent, and it’s decentralized. And I believe, crypto currency
would give a benefit to Indonesia.
To widely introduce crypto currencies to Indonesian people. To let them know what exactly is crypto
currencies? How do they work? What’s the benefit of this compared to other payment methods? And
let them taste it.

To let them know that crypto currencies is not some kind of scary monster, it’s not a threat. But it’s just
a different kind of currency. That’s the goal of IndoCoin. The rest, whether to embrace it or not, I will
leave it up to them.

What are you going to do to accomplish that?

Personal support is the best approach. Wallet Qt will be localized to Bahasa Indonesia (Yes I know,
Bitcoin v0.9 already has Indonesian translation there, but I personally think it needs rework here and
there, it feels too stiff, therefore for Indocoin I translated it from scratch) to help those who are lacking
in English skill. I will also provide a site dedicated for Indonesians that is new in crypto currency world, to
guide them to get things started, and place for them to hang around. At first, I will personally provide
the guides, but I hope I will meet another fellows along the way that are willing to help me on this
endeavors.

Support will not only be given on there. I will active stroll on Indonesian major forums, boards, or any
place I could think of to spread the words, mail the media, let them know, give them support, and
hopefully they are interested in this. Too ambitious? Well, Ralph said, without ambition one starts
nothing. Seems hard, but one step at a time, and one day we will realize that we’ve already reached
Rome.

Proof of Work Algorithm: Scrypt

Premine: 60 Blocks

Total Coins: 19,450,000,000 (Soft cap)

Block Time: 60 Seconds

Reward Change: Every 500,000 Blocks

Difficulty Retargetting: Every Block (DigiShield)

RPC Port: 19451

P2P Port: 19457

-Testnet RPC: 19458

-Testnet P2P: 19459

Rewards are soft capped at 19,450,000,000. After that every block generate 500 IDC.

1-500,000 = 20,000 IDC

500,001-1,000,000 = 10,000 IDC

1,000,001-1,500,000 = 5,000 IDC

1,500,001-2,000,000 = 2,500 IDC

2,000,001-2,500,000 = 1,400 IDC

2,500,000+ = 500 IDC

Windows: http://www.mediafire.com/download/bstascu6slp48ak/indocoin.zip | Mirror

Linux: http://www.mediafire.com/download/7997a752e79ir86/indocoin.zip | Mirror
Mac OS: Available for bounty
Source Code: https://github.com/indocoinproject/indocoin

Official Site: http://indocoin.net

Forums: http://indocoin.org/forums
IRC Channel: server: irc.freenode.net channel: #indocoin or WebChat
Block Explorer: http://indocoin.info
Faucet: http://indocoin.info/faucet/

1 Mining Pool will be provided upon launch. If you are pool operator and would like to mine Indocoin,
please inform me by posting your pool info on this thread. I will update the mining pools list accordingly.

http://idhash.com

http://idc.hashhot.com

http://idc.mikupool.com

http://indo.minerstation.com/

http://www.thecryptopool.com
Currently none. If you are crypto-coin exchange owner and would like to put Indocoin on your exchange
site, please inform me by posting your exchange site on this thread. I will update the exchanges list
accordingly.

 AllCrypt https://www.allcrypt.com/market?id=775

 CoinNext https://coinnext.com/trade/IDC/BTC *I keep hearing bad things on them, better not to

use this one atm

- http://finance.detik.com/read/2014/06/11/131744/2605060/5/saingi-bitcoin-indonesia-punya-
indocoin
- http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/indocoin-a-cryptocurrency-
for-indonesia/

Is this coin premined?

After the final compile, 60 blocks were mined for testing purpose, to make sure it is working as
intended. After that, mining operation will be stopped until the launching where everyone can start
mining. The premined coins will be used to pay bounty, my coffes, initial setup of Indocoin, some of
them will be dumped to faucet or will be used as giveaway. All premined blocks can be seen on block
explorer after launching. Also, no IPO.

This is another country-coin, is there airdrop?

No, unlike other country-coins that have airdrop to give to their citizens, Indocoin does not have any
airdrop planned. Indonesia currently doesn’t have any form of online ID verification system. There is
eKTP (Electronic Citizenship Card, or something) but it is nowhere near finish. In short, we cannot
execute airdrop. We could simply use a scan of citizenship card (with personal info blurred ofc) but that
is no good, people could send fake ID still. I believe, things such as Airdrop isn’t really essential and isn’t
really needed to introduce a crypto currency to a country. It certainly nice to have free coins, but with a
words of mouths, proper supports, localization, and the power of internet, should works wonder.