I would like to create a new token, but I'm a complete newbie when it comes to Ethereum and cryptocurrencies/blockchain in general. I'm also not a programmer.

My goal is to create a fixed number of tokens. Every time a token is bought the following things should happen:

The token's price/value doubles. Ideally, I would like to tie the price to the USD or another fiat currency.

The payment is distributed to multiple parties. For example, the current value is $100. When it is bought for $200 75% goes to the seller and 25% goes to the original token creator.

If possible, the buyer will have the option to be listed publicly as the current owner or remain anonymous.

Thanks in advance for any guidance on how I can accomplish this!


The foundation have published a tutorial specifically about creating your own token contract.

Everything that you have described is possible.

You will need to write a smart contract in Solidity.

I am afraid you are going to have to become a programmer :)

  • Thanks for your reply. Well, I'm glad to hear that everything is doable. Unfortunately, I don't have the time to train myself to become a programmer though. Haha. ;-) I think I need to find a programmer to help or some open source examples of similar projects to copy and customize. How difficult is the coding necessary to accomplish my goals? From your reply, am I correct that I need a token and a separate smart contract? Could anyone direct me to similar projects I could use as a base for mine?
    – Jesse
    Aug 14 '17 at 11:30
  • @Jesse, it is not that tough to customize and use but I wouldn't recommend doing that if you're not familiar with programming. The only reason being that there are huge security concerns related to writing such contracts and something tiny can create a loophole. There are example contracts in the solidity documentation and otherwise, you can just check out any other tokensale contract that have been used - github.com/indorseio/tokensale/tree/master/contracts Oct 11 '17 at 21:38

As mentioned, it is doable. But even if you were proficient in Solidity, there are some majos issues in implementing that.

Tokens do not typically have explicit value. Especially not tied to fiat. Typically a token's value is at what value it is traded in exchanges. However, you can give tokens in exchange of Ether in your contract - it's just not very typical. Tying the value to fiat is very unfeasible - you'd need external oracles and the costs of maintaining the system get quite high.

If accepting Ether payments is ok, then one option would be to manually adjust the Ether/token ratio when needed. In the beginning you can sell 1 token for 1 Ether and later the ratio can be adjusted, but you need to send a transaction to the contract to adjust the ratio.

I'd also like to emphasize the security concerns - even experienced Solidity developers make mistakes that may render the contract useless or even leaking Ether.

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