Buffalo Coin

Why did we create this project?

Our belief is that WNY's reliance on USD (AKA "money") grants us little control over the affairs of our region, and creates a dependence on the national financial/banking heirarchy, which we here at BuffaloCoin have lost faith in.

The emergence of Bitcoin, and its open-source nature, has granted humanity a wonderful opportunity to fight to regain our financial sovereignty and independence. BuffaloCoin is a regional extension of this very same idea.

 

Bitcoin's properties as a new form of hard money granted it the unique ability to upend the existing oligarchical capitalist power structure. Unfortunately, Bitcoin adoption was limited to only a small group of individuals who 1) Knew about the currency early and 2) Believed in its long-term value. This has led to vast wealth inequality within the Bitcoin space, and has led to a new crypto oligarchy of sorts. Well, since BuffaloCoin has a fresh blockchain (ledger of accounting data), this oligarchy can be upended again!

BuffaloCoin (BUF) is also open-source, and is a near-copy of the Bitcoin software, with minor changes in the attributes of the currency - most notably the mining and total supply of the currency:
 

Coin properties [Translations are in brackets]

Max Monetary Supply

1,000,000 coins - [Approximately 1 coin per Erie County resident]
 

Estimated Time per Block

2 min - [Transaction comfirmations take place every ~2 minutes]
 

Premine

1 % - [1% of the monetary supply was initially granted to the coin creator]
 

Initial coins mined per block

5 coins - [5 coins generated from mining every 2 minutes]
 

Mining Reward Halving

105000 blocks - [Time period until inflation from mining is reduced by 50% - approx every 365 days]

 

Target timespan

168 hours - [Time period until the mining difficulty self-adjusts]
 

Coin type

Litecoin (Scrypt) - [GPU mining recommended, not ASIC compatible]

 

P2P port

11002 - [The P2P network communicates on this channel]

 

RPC port

21002 - [The mining network communicates on this channel]