Topic: [ANN] TradeCoin (TDC) | Launched - page 9. (Read 16250 times)
Buy 100,000,000 TDC for 1 LTC
You should go for proof of stake blocks to maintain the network activity, really ...
This would have been an excellent experiment to see how PoS miners mantain a "mined-out" coin.
I will therefore probably not release it tomorrow then and incorporate proof of stake and release it a couple of days later (could still be tomorrow if I can get it done in time)
You should go for proof of stake blocks to maintain the network activity, really ... with proof of work, your coin is doomed by 51% attacks. EDIT: see above ^^
Proof of stake blocks do not even need to carry a reward if you want to keep your concept "pure".
Also, the price would probably stay very low as long as a lot of the premine has not been distributed.
But you also need to get people to trust you to effectively distribute the premine (and not secretly transfer a sizeable part of it to accounts you control).
This part will be very hard to achieve ^^
Last but not least, you need to be sure a minimum of hashing power is kept dedicated ... You may have to "rent" some, paying for it each day or week with enough guarantees for a long period help publicly ...
Proof of stake blocks do not even need to carry a reward if you want to keep your concept "pure".
Also, the price would probably stay very low as long as a lot of the premine has not been distributed.
But you also need to get people to trust you to effectively distribute the premine (and not secretly transfer a sizeable part of it to accounts you control).
This part will be very hard to achieve ^^
Last but not least, you need to be sure a minimum of hashing power is kept dedicated ... You may have to "rent" some, paying for it each day or week with enough guarantees for a long period help publicly ...
Ok, I will probably update the bounties to include a set amount for a set number of hashes per day (renting it). I may have to push the release back a couple of days in order to incorporate proof of stake to gays against 51% attacks. As for the redistribution part, I'll try to figure that out.
You should go for proof of stake blocks to maintain the network activity, really ...
This would have been an excellent experiment to see how PoS miners mantain a "mined-out" coin.
You should go for proof of stake blocks to maintain the network activity, really ... with proof of work, your coin is doomed by 51% attacks. EDIT: see above ^^
Proof of stake blocks do not even need to carry a reward if you want to keep your concept "pure".
Also, the price would probably stay very low as long as a lot of the premine has not been distributed.
But you also need to get people to trust you to effectively distribute the premine (and not secretly transfer a sizeable part of it to accounts you control).
This part will be very hard to achieve ^^
Last but not least, you need to be sure a minimum of hashing power is kept dedicated ... You may have to "rent" some, paying for it each day or week with enough guarantees for a long period help publicly ...
Proof of stake blocks do not even need to carry a reward if you want to keep your concept "pure".
Also, the price would probably stay very low as long as a lot of the premine has not been distributed.
But you also need to get people to trust you to effectively distribute the premine (and not secretly transfer a sizeable part of it to accounts you control).
This part will be very hard to achieve ^^
Last but not least, you need to be sure a minimum of hashing power is kept dedicated ... You may have to "rent" some, paying for it each day or week with enough guarantees for a long period help publicly ...
Having no mining reward means a very low network hashrate. I will personally 51% attack and kill this shitty coin. You have my word.
how are transactions processed, with no one mining?
I will be mining in the early stages to keep it alive and if you look at the bounties, there are three rewards of one million tdc each to three people who can mine it for longer.
Seems kind of open ended? When/how will you decide to pay out those bounties? What are the tx fees, is that something worth mining for?
The concept is nice, but you need mining to keep the network going.
I will pay out the bounties if someone pms me saying that they have any computer (could be an i5 for all I care) and they would like to mine tdc for at least a month or two. If they can only give a smaller portion of time, then I will give part of the million bounty. Do you have a better suggestion (I'd appreciate it)? Per day perhaps?
how are transactions processed, with no one mining?
I will be mining in the early stages to keep it alive and if you look at the bounties, there are three rewards of one million tdc each to three people who can mine it for longer.
Seems kind of open ended? When/how will you decide to pay out those bounties? What are the tx fees, is that something worth mining for?
The concept is nice, but you need mining to keep the network going.
Pointless thread.
how are transactions processed, with no one mining?
I will be mining in the early stages to keep it alive and if you look at the bounties, there are three rewards of one million tdc each to three people who can mine it for longer.
how are transactions processed, with no one mining? What do tx fees look like?
i have a question.... in what point the miners enter to this coin? how we can get coins or its just a coin for buying/selling?
well thats was two question
well thats was two question
1) Miners should not really be attracted to this coin, they have already all been created
2) Since they have already all been created, the only way to obtain is via a giveaway, buying or selling (I will be starting a giveaway of 1000 coins per person as soon as the coin is released).
Does that answer your questions?
i have another question
what is the idea of this coin?
just for example, i buy 100000 TDC for 1 LTC, then the price moves down and down and finally stabilize on 300000 for 1 LTC and never goes up....so i will lost a lot of money (not really a lot but this is just an example ) in other way the price can goes up and up and up an finally i can sell my 100000 TDC for 10 LTC, then people with a lot of LTC to spend can buy TDC and the rest of US just able to sell our few coins
the risk is too high.... sorry for my bad english, i know that nobody can understand my point :/
I understand your question
The point of this coin is to act as an experiment to see what will happen to ltc when all coins have been created and because I thought it would be an interesting experiment. With regard to the risk, like most alts (and btc itself), price is driven purely by speculation so that argument can be made for most any coin. I don't believe there are any "risk free" coins (if there are then I want some
) 
i have a question.... in what point the miners enter to this coin? how we can get coins or its just a coin for buying/selling?
well thats was two question
well thats was two question
1) Miners should not really be attracted to this coin, they have already all been created
2) Since they have already all been created, the only way to obtain is via a giveaway, buying or selling (I will be starting a giveaway of 1000 coins per person as soon as the coin is released).
Does that answer your questions?
i have another question
what is the idea of this coin?
just for example, i buy 100000 TDC for 1 LTC, then the price moves down and down and finally stabilize on 300000 for 1 LTC and never goes up....so i will lost a lot of money (not really a lot but this is just an example ) in other way the price can goes up and up and up an finally i can sell my 100000 TDC for 10 LTC, then people with a lot of LTC to spend can buy TDC and the rest of US just able to sell our few coins
the risk is too high.... sorry for my bad english, i know that nobody can understand my point :/
i have a question.... in what point the miners enter to this coin? how we can get coins or its just a coin for buying/selling?
well thats was two question
well thats was two question
1) Miners should not really be attracted to this coin, they have already all been created
2) Since they have already all been created, the only way to obtain is via a giveaway, buying or selling (I will be starting a giveaway of 1000 coins per person as soon as the coin is released).
Does that answer your questions?
i have a question.... in what point the miners enter to this coin? how we can get coins or its just a coin for buying/selling?
well thats was two question
well thats was two question
Quote from: cryptopi link=topic=242857.msg2577093#msg2577093 4=1372183964
Fixed
Gee, I'm glad you spent so much time thinking all this through.
I actually did: my logic was that 8 million was enough for cryptsy to support it and then rewards of 10 and 12 million would entice vicurex and bter, respectfully.
So there was logic to it, just not your logic.
Fixed
Gee, I'm glad you spent so much time thinking all this through.
- 8,000,000 for the first exchange to support it
- 10,000,000 for the second exchange to support it
- 12,000,000 for the third exchange to support it
- 5,000,000 for the first gambling site to support it
- 5,000,000 for the second gambling site to support it
- 1,000,000 for the first faucet site to accept it
- 12,000,000 for the first merchant site to accept it
- 1,000,000 x 3 for three people to mine it (with any computer, just to keep it alive)
Why would you give only 8 mil to the first exchange to support it and more to the exchanges that follow? Who is going to want to be first when you can be 3rd and get 4 million more coins? It makes zero sense, just like the entire coin itself.
Fixed
I agree, proof of stake would make it interesting.
- 8,000,000 for the first exchange to support it
- 10,000,000 for the second exchange to support it
- 12,000,000 for the third exchange to support it
- 5,000,000 for the first gambling site to support it
- 5,000,000 for the second gambling site to support it
- 1,000,000 for the first faucet site to accept it
- 12,000,000 for the first merchant site to accept it
- 1,000,000 x 3 for three people to mine it (with any computer, just to keep it alive)
Why would you give only 8 mil to the first exchange to support it and more to the exchanges that follow? Who is going to want to be first when you can be 3rd and get 4 million more coins? It makes zero sense, just like the entire coin itself.
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