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Topic: [Announce] 6-Week Alt Announcement - page 2. (Read 17138 times)

NickCoin
member
Activity: 115
Merit: 10
Re: [Announce] 6-Week Alt Announcement
May 06, 2013, 08:14:48 AM
#102
Quote from: Blue_oxen on May 02, 2013, 10:48:54 PM
Quote
The coin itself will have a block reward that increases with hashing power.
I can see this causing a problem with value. as more miners come on it could case a surplus in coins. Having more supply than demand could cause a problem with coin valuation. IMHO I think it would be a good idea to put a hard cap on the number of coins possible no matter how high the hash rate gets.

Not really, the law of supply and demand will naturally adjust it to the market's value.
More miners = more coins => less $ per coin => less profitable => Less Miners => more $ per coin => more profitable => More miners again, and so on...
Tobius
member
Activity: 182
Merit: 10
Re: [Announce] 6-Week Alt Announcement
May 04, 2013, 08:43:55 PM
#101
Quote from: Vorksholk on May 04, 2013, 08:33:10 PM
Quote from: Tobius on May 04, 2013, 08:32:26 PM
Quote from: Vorksholk on May 04, 2013, 08:05:50 PM
Quote from: Tobius on May 04, 2013, 07:11:12 PM
Quote from: Vorksholk on May 03, 2013, 08:17:06 PM
Noticed a few other potential legal hurdles, looking into them. If I can't figure out a way to do this coin in the grace of US law I won't be doing it. Sorry Sad

Idea's currently open to anyone else who wants to make it though... Smiley

Also could you explain these?

The main one simply is that it is a currency that, if you will, has an increased usage potential for money laundering. I know the other Cryptos do the same, I just don't know the legality of being the creator of such a currency . . .

Actually, I'm pretty sure it's not officially recognized as a currency atm...

True, in that sense it would be more of a network, system, or service that allows for money laundering. Sad

Well, that's not the point of it...and I'm sure there's at least 1 person that's not think headed enough to not see this

Plus, what exactly would the US government do to you?

1. The creator CAN't take down the network. P2P networks don't work like that
2. It's open source, some guy in X country outside of US juristiction would just fork the code and take up development
3. If the US government actually wanted to do something for the first time in years, why would they go after a small altcoin vs Big Daddy (Bitcoin)

Overall, I don't see how you'd be held to it in any way
Vorksholk
legendary
Activity: 1713
Merit: 1029
Re: [Announce] 6-Week Alt Announcement
May 04, 2013, 08:33:10 PM
#100
Quote from: Tobius on May 04, 2013, 08:32:26 PM
Quote from: Vorksholk on May 04, 2013, 08:05:50 PM
Quote from: Tobius on May 04, 2013, 07:11:12 PM
Quote from: Vorksholk on May 03, 2013, 08:17:06 PM
Noticed a few other potential legal hurdles, looking into them. If I can't figure out a way to do this coin in the grace of US law I won't be doing it. Sorry Sad

Idea's currently open to anyone else who wants to make it though... Smiley

Also could you explain these?

The main one simply is that it is a currency that, if you will, has an increased usage potential for money laundering. I know the other Cryptos do the same, I just don't know the legality of being the creator of such a currency . . .

Actually, I'm pretty sure it's not officially recognized as a currency atm...

True, in that sense it would be more of a network, system, or service that allows for money laundering. Sad
Tobius
member
Activity: 182
Merit: 10
Re: [Announce] 6-Week Alt Announcement
May 04, 2013, 08:32:26 PM
#99
Quote from: Vorksholk on May 04, 2013, 08:05:50 PM
Quote from: Tobius on May 04, 2013, 07:11:12 PM
Quote from: Vorksholk on May 03, 2013, 08:17:06 PM
Noticed a few other potential legal hurdles, looking into them. If I can't figure out a way to do this coin in the grace of US law I won't be doing it. Sorry Sad

Idea's currently open to anyone else who wants to make it though... Smiley

Also could you explain these?

The main one simply is that it is a currency that, if you will, has an increased usage potential for money laundering. I know the other Cryptos do the same, I just don't know the legality of being the creator of such a currency . . .

Actually, I'm pretty sure it's not officially recognized as a currency atm...
huanghaibin
newbie
Activity: 19
Merit: 0
Re: [Announce] 6-Week Alt Announcement
May 04, 2013, 08:24:01 PM
#98
P2Poolo
huruien
newbie
Activity: 20
Merit: 0
Re: [Announce] 6-Week Alt Announcement
May 04, 2013, 08:14:01 PM
#97
+1
Vorksholk
legendary
Activity: 1713
Merit: 1029
Re: [Announce] 6-Week Alt Announcement
May 04, 2013, 08:05:50 PM
#96
Quote from: Tobius on May 04, 2013, 07:11:12 PM
Quote from: Vorksholk on May 03, 2013, 08:17:06 PM
Noticed a few other potential legal hurdles, looking into them. If I can't figure out a way to do this coin in the grace of US law I won't be doing it. Sorry Sad

Idea's currently open to anyone else who wants to make it though... Smiley

Also could you explain these?

The main one simply is that it is a currency that, if you will, has an increased usage potential for money laundering. I know the other Cryptos do the same, I just don't know the legality of being the creator of such a currency . . .
Tobius
member
Activity: 182
Merit: 10
Re: [Announce] 6-Week Alt Announcement
May 04, 2013, 07:11:12 PM
#95
Quote from: Vorksholk on May 03, 2013, 08:17:06 PM
Noticed a few other potential legal hurdles, looking into them. If I can't figure out a way to do this coin in the grace of US law I won't be doing it. Sorry Sad

Idea's currently open to anyone else who wants to make it though... Smiley

Also could you explain these?
Tobius
member
Activity: 182
Merit: 10
Re: [Announce] 6-Week Alt Announcement
May 04, 2013, 09:21:09 AM
#94
Quote from: HeRetiK on May 04, 2013, 02:51:26 AM
Quote from: Vorksholk on May 03, 2013, 08:17:06 PM
Noticed a few other potential legal hurdles, looking into them. If I can't figure out a way to do this coin in the grace of US law I won't be doing it. Sorry Sad

What hurdles? If it's about writing the client you're just writing software. If it's about mining from a legal perspective your coin won't do anything different then bitcoin or any of the alts?

Wasn't one of the biggest things from the bit coin bubble it's acceptance by US authorities? They shouldn't target an altcoin for any reason.
HeRetiK
legendary
Activity: 3122
Merit: 2178
Playgram - The Telegram Casino
Re: [Announce] 6-Week Alt Announcement
May 04, 2013, 02:51:26 AM
#93
Quote from: Vorksholk on May 03, 2013, 08:17:06 PM
Noticed a few other potential legal hurdles, looking into them. If I can't figure out a way to do this coin in the grace of US law I won't be doing it. Sorry Sad

What hurdles? If it's about writing the client you're just writing software. If it's about mining from a legal perspective your coin won't do anything different then bitcoin or any of the alts?
Rawted
hero member
Activity: 742
Merit: 500
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 09:01:14 PM
#92
Fully support this. Let me know if you need anything during the development process.
meebs
hero member
Activity: 616
Merit: 500
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 08:39:22 PM
#91
Quote from: Vorksholk on May 03, 2013, 08:17:06 PM
Noticed a few other potential legal hurdles, looking into them. If I can't figure out a way to do this coin in the grace of US law I won't be doing it. Sorry Sad

Idea's currently open to anyone else who wants to make it though... Smiley

what kind of issues? Are they specific to the type of coin you are making.. or just altcoins in general?
cocales
full member
Activity: 148
Merit: 100
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 08:33:48 PM
#90
No way Jose...
Vorksholk
legendary
Activity: 1713
Merit: 1029
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 08:17:06 PM
#89
Noticed a few other potential legal hurdles, looking into them. If I can't figure out a way to do this coin in the grace of US law I won't be doing it. Sorry Sad

Idea's currently open to anyone else who wants to make it though... Smiley
MaGNeT
legendary
Activity: 1526
Merit: 1002
Waves | 3PHMaGNeTJfqFfD4xuctgKdoxLX188QM8na
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 04:26:33 PM
#88
Looks good!
HeRetiK
legendary
Activity: 3122
Merit: 2178
Playgram - The Telegram Casino
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 04:21:46 PM
#87
Finally an alt coin with new ideas that actually addresses issues of the current ones. Looking forward to see what you're coming up with!
Vorksholk
legendary
Activity: 1713
Merit: 1029
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 03:46:33 PM
#86
Quote from: MGUK on May 03, 2013, 11:02:28 AM
Seems interesting.

How much dev work has been done already?

Also, do you have a fixed date for the launch?

Thanks.

For dev work, it's mostly been theoretical, plotting numbers, comparing to market trends. I have started to crack on the source code, but haven't done much there.

Fixed date: nope, when its ready! I want this coin to be built from community ideas, and that might take longer than six weeks to accomplish, depending on what happens Smiley I have a tentative date for some time in Mid June . . .
razoredge
newbie
Activity: 14
Merit: 0
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 11:06:33 AM
#85
How about

Acoin

(anothercoin)

sounds like acorn!
MGUK
member
Activity: 83
Merit: 10
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 11:02:28 AM
#84
Seems interesting.

How much dev work has been done already?

Also, do you have a fixed date for the launch?

Thanks.
daytrader420
full member
Activity: 126
Merit: 100
Re: [Announce] 6-Week Alt Announcement
May 03, 2013, 10:51:22 AM
#83
Looking forward to this one !

Also it is NICE to see an announcement gaining momentum (and not an announcement in some place deeper/darker) , weeks before coin is released.

Gain the trust and interest of the community, and I'm sure this coin will succeed.
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