We know this can be confusing in the beginning - but we are here to help. Here is how we standardize idiots at the IdiotToken HQ:
IdiotToken uses a smart contract voting mechanism to anonymously vote on the stupidity of other wallet holders.
If you already have an Ethereum wallet, you can send idiot token to the
vote(address _idiot, int _amount) function. The Idiot Token voting contract will first store the tokens and then anonymously distribute them to the _idiot address. It will also keep track of the cumulative amount of IdiotToken each idiot's address received over time. The idiot is then able to spend the IdioTokens without knowing where they came from, thanks to the fungibility of the token itself.
At its core, there will be a decentralized ranking of idiots, more specifically their wallet addresses, that is there for the ages. Trading of the token on exchanges will not influence the idiot rankings.
You can send IdiotToken to people who have no Ethereum wallet yet. You can do so by using our email notification system or by using a referral link with a secret key. We won't publicize any personally identifiable information during that process of you or the idiot. Once the idiot is notified, we allow the blockchain newbie to create a wallet, receive the tokens and immediately show up in the rankings. Then, we help them understand how they can rank others as idiots. You see, it's blockchain on-boarding 101, we are doing good here. Or are we?
The private beta signup is closed now. If you made the cut, you'll soon have a link in your inbox and can start playing around with it.