Topic: climbing-coin idea (Read 250 times)
hi i'm interested...please send me more details
The question is is there something fitter out there then bitcoin. And hey, that's tough.
Bitcoin has a huge market share - each new altcoin will be week at the beginning.
From technology or design point of view I don't see how to design a better coin - most people on #bitcoin share this judgment *BUT*... When does a coin gain value if the total amount of coins is limited as gold is? If people are willing to trade more against it. Thus if all FIAT was gone, then 1 BTC would reflect all trading goods on earth (including housings, airplaines, even atom warships.. Get it? If there was a coin people would join faster miners would start using it because what they mine would gain value faster -> this would weaken the original bitcoin.
So how can you make a 'shitcoin' (= new alt coin) appear more appealing than the well established bitcoin?
If the value increases faster it could be likely that it gets mentioned more often and that people who are in a rush (country fiat breakdown) choose that instead because they don't have time to think about which crypto currency to choose -> so they may fall back to the fastest raising one which would be this 'climbing coin' or an alternative being designed to climb even faster.
I'll shorten the climbing coin to CC from now on.
So how would it work? Assuming there are 100 CC distributed by 100 owners each having 1 CC. Then they don't care about keeping 1 CC, but about keeping 1% of the cake (same proportion). Thus if there was a transaction of 1CC one could built a decay into the block such as multiply all values by 0.999. Then all people would still own 1% of the cake, but total coins would be reduced. Thus a CC would appear to be worth more FIAT -> and that might draw some people (and media)'s attention again and again -> that could it cause it to gain traction faster than bitcoin and could cause miners to sell bitcoins buying CCs.
Has anybody tried this already?
Of course you then can create an even faster climbing coin (EFCC) which would multiply all values by 0.8 (extreme case) ...
If climbing coins appears 'fitter' in naive eyes (newcomers) - and there are many, why should bitcoin miners keep mining bitcoins? Doesn't it make sense to start mining CCs then?
Who would be interested in giving this try to proof the fitness of the original bitcoin together with me?
Again: From theory its not better/worse that bitcoin. Everybody owning a CC will keep its proportional value. But compared to FIAT it will appear to be raise in value much faster. Yes - it is an illusion, but people are fools.
Because crypto coins don't have a value on its own (its given by buyers) this illusion and psychological effect might matter - I cannot estimate how much. So yes, it would be an experiment. Eventually it would end being yet another shitcoin. Anyway - all bitcoin owners should give this try and join me, because if it fails its yet another sign that investing in bitcoin long term does make sense. And that's what you want to know - that your bitcoins are the best way to spend your value at the moment.
Maybe this already has been tried - let me know.
The code should be easy to adopt, the 0.99 factor above could depend on either time or amount of transactions or amount of blocks or ... but it should be that high that value is likely to increase faster than any of stocks of Amazon, Uber, Google, Facebook and similar high tech IoT like stocks.
Who is going to join me and create an ICO or such for it - unless somebody has already tried it?
PS: I don't fear putting the idea in here in public - because the code will reveal everything anyway - and you you can always still create a even faster climbing coin.
Bitcoin has a huge market share - each new altcoin will be week at the beginning.
From technology or design point of view I don't see how to design a better coin - most people on #bitcoin share this judgment *BUT*... When does a coin gain value if the total amount of coins is limited as gold is? If people are willing to trade more against it. Thus if all FIAT was gone, then 1 BTC would reflect all trading goods on earth (including housings, airplaines, even atom warships.. Get it? If there was a coin people would join faster miners would start using it because what they mine would gain value faster -> this would weaken the original bitcoin.
So how can you make a 'shitcoin' (= new alt coin) appear more appealing than the well established bitcoin?
If the value increases faster it could be likely that it gets mentioned more often and that people who are in a rush (country fiat breakdown) choose that instead because they don't have time to think about which crypto currency to choose -> so they may fall back to the fastest raising one which would be this 'climbing coin' or an alternative being designed to climb even faster.
I'll shorten the climbing coin to CC from now on.
So how would it work? Assuming there are 100 CC distributed by 100 owners each having 1 CC. Then they don't care about keeping 1 CC, but about keeping 1% of the cake (same proportion). Thus if there was a transaction of 1CC one could built a decay into the block such as multiply all values by 0.999. Then all people would still own 1% of the cake, but total coins would be reduced. Thus a CC would appear to be worth more FIAT -> and that might draw some people (and media)'s attention again and again -> that could it cause it to gain traction faster than bitcoin and could cause miners to sell bitcoins buying CCs.
Has anybody tried this already?
Of course you then can create an even faster climbing coin (EFCC) which would multiply all values by 0.8 (extreme case) ...
If climbing coins appears 'fitter' in naive eyes (newcomers) - and there are many, why should bitcoin miners keep mining bitcoins? Doesn't it make sense to start mining CCs then?
Who would be interested in giving this try to proof the fitness of the original bitcoin together with me?
Again: From theory its not better/worse that bitcoin. Everybody owning a CC will keep its proportional value. But compared to FIAT it will appear to be raise in value much faster. Yes - it is an illusion, but people are fools.
Because crypto coins don't have a value on its own (its given by buyers) this illusion and psychological effect might matter - I cannot estimate how much. So yes, it would be an experiment. Eventually it would end being yet another shitcoin. Anyway - all bitcoin owners should give this try and join me, because if it fails its yet another sign that investing in bitcoin long term does make sense. And that's what you want to know - that your bitcoins are the best way to spend your value at the moment.
Maybe this already has been tried - let me know.
The code should be easy to adopt, the 0.99 factor above could depend on either time or amount of transactions or amount of blocks or ... but it should be that high that value is likely to increase faster than any of stocks of Amazon, Uber, Google, Facebook and similar high tech IoT like stocks.
Who is going to join me and create an ICO or such for it - unless somebody has already tried it?
PS: I don't fear putting the idea in here in public - because the code will reveal everything anyway - and you you can always still create a even faster climbing coin.
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