Topic: Discussion of Perfect Currency/Crypto-Currency (Read 711 times)

You obviously don't understand.  Here's some examples:

 - Brick and mortar stores in Vancouver accept 0-confirmation (instant) transactions (typically using BitPay).
 - just-dice.com allows you to start gambling after a single confirmation.  
 - the coin mixer on blockchain.info requires a variable number of confirmations (starting at 0) depending on how many BTC you want mixed.  
 - Bitfinex will post the BTC balance to your account after 3 confirmations.
 - The Canadian Virtual Exchange requires 6 confirmations before allowing you to trade.

Users are free to consider the transaction as "complete" at any number of confirmations (including 0), depending on their need for security.  Double spending simply goes from quite unlikely (at 0 confirmations) to incredibly mind-blowingly unlikely (at 10 confirmations), etc.  

I've already read over it and numerous other texts of the same nature.  "Confirmations" continue to build as each block is buried deeper in the blockchain.  
Thanks for sharing information (despite it being known).   

I was asking about the confirmation number because its inclusion indicates your level of knowledge. Please read this: https://en.bitcoin.it/wiki/Confirmation and this: https://bitcoil.co.il/Doublespend.pdf

Any cryptocurrency that is not Bitcoin is considered an altcoin, (obviously) so yes.  In regards to the difference, in current form there is little difference
between this currency and WorldCoin/FastCoin/tons-of-other alts.  The issue with some of those coins is a soiled reputation in regards to things
such as a premine (notably in WDC).  While I personally do not believe a small premine in and of itself makes a currency destined to fail,
it does soil the reputation and make its legitimacy more questionable.

Ultimately the reason this thread is here is for you to state what differences should exist.

Anyways, the confirmation line is in regards to how many confirmations occur for a transaction to be considered complete.  In the same sense as Bitcoin's network utilizes 6 confirmations.
I have little doubt you know this already though. 

Much wow indeed.  Dogecoin to surpass LTC etc.


Anyways, I understand these parameters and proposals are nothing groundbreaking or revolutionary.  By no means revolutionary or really new like what is being utilized in regards to Decrits, but that isn't the goal here.  It is to improve upon the BTC/Cryptocurrency model in regards to trade and sale.  With that in mind; the goal is not to get rich.  If a currency is exploding upwards in value, it becomes less likely to be used as means of exchange obviously. 

w0w d00d ur gon b billionaire, such settings, so great, cant wait for innovative coin

I have been researching currency and payment systems, and have decided that an open dialogue with users here may net me further knowledge in regards to the best cryptocurrency structure.  I look forward to hearing opinions, ideas, and facts to come from you guys.  So without further ado I'll begin the discussion of this new currency.  

Transaction Specifications:
Block Time:  15 Seconds
Confirmations: 2
Transaction Comments

These parameters were chosen to allow this currency a legitimate shot at real-world use alongside digital use.  The confirmation number and block times will allow utilization in a retail environment that is no slower than the average person running and signing for a credit card purchase.


Coin Distribution:
Algorithm:  Scrypt
Total Supply:  512 Million Coins
Coins Per Block:  20>15>10>5
Difficulty:  Readjusts every 12 blocks; every two minutes.  

Explanation of block reward:  During the initial adoption phase and release, the block reward will be 20 coins.  This is to encourage adoption of the currency and reward those who are venturing into the new currency.  It will be reduced to 15 coins after three months.  In three months it will again reduce to 10 blocks.  After this period it will remain for 1.5 years; after which it reduces to 5 for the remaining supply of coins.  The difficulty readjustments are to ensure no instamining or unfair exploitation of "low difficulty" periods.


Goal of Currency:
Bitcoin and other currencies have become unfocused in regards to becoming a means of exchange.  They have become tools of speculation and are more akin to security investments as opposed to currency.  Markets for the actual purchase of goods and services will be pushed early on.  The coin supply is geared towards providing a coin usable for day-to-day purchases and transactions.  


Concluding:
I'd be happy to hear suggestions and possible revision ideas from you guys.  Thank you for your time.