Topic: Creation of more alt coins (Read 632 times)
Arr, the same conversation over and over again. New to a new person, old to everyone who has read about this topic a million times before.
You want a coin that does useful work ... no one has come up with that yet. It's coming, though.
Exactly. Everyone is just copying crap that has already been done, and even some (IE Feathercoin) came out with a big "supportive" group for marketing and real world application... but they were either too slow or it was all a scheme to pump a coin (I would assume the latter). There has been no innovation in any of the recent coins that I've seen come out. It's all just been a way for new miners (myself included) to make a few extra bucks. It's all fun and what not, but I don't see btc-e trading to remain profitable if they have 20+ coins on their page that are all basically the same BS.
Creating one new alt coin per day, with the characteristics of existing coins will show that these characteristics that they often promote with utmost fervor, is just.... Easily copied.
Well my main purpose is to show that those alt coins out there that whatever characteristics they have, it is so easily copied. (is it?)
aka you want a faster transaction coin --- just allow a higher rate of blocks
you want a rarer coin --- reduce the block reward
you want demurrage --- create it with demurrage
Whatever digital characteristic you want, one can just copy them easily.
Ultimately what will set these coins apart is not their digital characteristics, i believe it is the real world application.
aka you want a faster transaction coin --- just allow a higher rate of blocks
you want a rarer coin --- reduce the block reward
you want demurrage --- create it with demurrage
Whatever digital characteristic you want, one can just copy them easily.
Ultimately what will set these coins apart is not their digital characteristics, i believe it is the real world application.
Real world application of a currency depends largely on its use and acceptance in the real world as a medium of exchange. Most all the altcoins (except for Litecoin) so far have been more about higher profit portals to BTC for the initial lucky few, as they are not accepted anywhere for goods and services. I don't see how creating 1 new altcoin a day would solve that.
You want a coin that does useful work ... no one has come up with that yet. It's coming, though.
Well my main purpose is to show that those alt coins out there that whatever characteristics they have, it is so easily copied. (is it?)
aka you want a faster transaction coin --- just allow a higher rate of blocks
you want a rarer coin --- reduce the block reward
you want demurrage --- create it with demurrage
Whatever digital characteristic you want, one can just copy them easily.
Ultimately what will set these coins apart is not their digital characteristics, i believe it is the real world application.
aka you want a faster transaction coin --- just allow a higher rate of blocks
you want a rarer coin --- reduce the block reward
you want demurrage --- create it with demurrage
Whatever digital characteristic you want, one can just copy them easily.
Ultimately what will set these coins apart is not their digital characteristics, i believe it is the real world application.
... is it not obvious? Pretty damn easy, obviously. Otherwise chinacoin and feathercoin would not exist. How? copy source of already-existing altcoin, change a few things up even though you're not really changing anything up, release, mine rape the hell out of it, sell. Maybe one day someone will invent a new, innovative coin.... in the mean time, copy and paste is the way to go apparently.
Hey everyone,
Just wondering, how much work does it take to create a new cryptocurrency?
If anyone is interested we could release a new coin everyday, naming the coin after the day itself.
Just wondering, how much work does it take to create a new cryptocurrency?
If anyone is interested we could release a new coin everyday, naming the coin after the day itself.
INSANE PROFIT for everyone involved. We can give a different forum member rights to premine the hell out of it for each coin. Coinchoose.com will be 5 pages long.
Hey everyone,
Just wondering, how much work does it take to create a new cryptocurrency?
If anyone is interested we could release a new coin everyday, naming the coin after the day itself.
Just wondering, how much work does it take to create a new cryptocurrency?
If anyone is interested we could release a new coin everyday, naming the coin after the day itself.
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