Topic: [Funding Target Reached]Superior Coin Design: Most fair Distribution model - page 10. (Read 16428 times)

i understand the direction of this post and im willing to discuss in more detail with an acquired and assigned dev. preferably one that has verifiably worked on other coins and with a long standing bitcointalk user name. some are making suggestions but till now none have suggested the particular remedy i wish to employ. this is because the innovation is indeed unique and not yet thought of or at least not yet publicly proclaimed.

i dont want to sell my idea.. i want to be part of this decentralized currency system. create a coin that resolves all issues relating to crypto investment as have been faced to date. one in which larger hash increases the coin's value as has been the objective with other coins, i achieve this by the behaviour coded into the coin.

sounds interesting ,but need show more to public.

I do not think that there is any innovation?

tldr

you want to make a coin that limit the hash per user?

And any more detailed information?

If you really have something extraordinary then you could sell your idea to software companies and be a multimillionaire in no time. Dont waste your time here. 

Stopped reading there. Miners/sellers are more than entitled to sell if they want. Work on attracting buyers.

this will not be an issue. the system would function in a fully decentralized state. each wallet can mine independently as you usually would and at their full hashpower. there will be no restriction on hash or ip connections. ive got a workaround which just happens to also prevent forking due to 51% attack.

 

That is never going to work. Theres nothing stopping us from setting up as many nodes as we want.
Its being widely done right now as well. Just to cover tracks on the coins "richlists."
If you will try to restrict by IP, then this is easy to overcome too.

Why do you think piracy in torrents is so popular? No one can control it. Thats why. Its exactly the same story with cryptocoins. You could set some restrictions for dumb people, but the smarter ones will always get around it and because of your restrictions, smarter people will get even richer.

The only somewhat effective way would be to integrate licence keys and force a node to connect centralized server before starting with mining. This centralized server could restrict hash rate and reject all invalid nodes with false keys.
This of course would wipe out all anonymity and decentralization and would probably never get popular. Centralized server(s) would literally have power over entire network.

thanks for those but we're not discussing ideas just yet  . for now maybe we should start with acquiring volunteer devs or pledges from investors willing to pay a dev for their work. building it with the community from the ground up. first things first.. we need devs.

simple solutions work ...

every node can just mine the nth mh/s part of the overall hashrate per ip ...

100 miners ... with 1 gh/s in sum ..

every node can hash max 10 mh/s ...

something like that ...

or put a median factor in the block reward so small miners get mor and big miners less...


just my 2 first ideas ...

i disagree. i think it is that belief that reduces the value of crypto. for example.

in a coin with 1 million coins, u managed to mine 30% of all the coins and hold 300k. when market demand grows to the climax of the 700k coins on the market you actually lose if you sell down. it would be better to sell sparingly at the highest value and allow the coin to raise some bits as not to frustrate the market. the reason a coin loses investor interests is because some are selling it down rapidly. and investors are more interested in rising value items. sell a little each allowing the market to climb in between and you get more than just selling down. in the end, the big holder swinging in his stash is the only cause of what he feared would happen.

if a coin is useful in our day to day lives there is no need to sell for fiat. that's the part where you become your own bank in crypto.

People love the cryptocoin.because  it can make them  rich!so,do some new crypto cions make someone can be rich

because they have stars in their eyes and dreams of grandeur - sell when you feel it's time to get out and don't even count on "to the moon'.

take your profits and move on the the next coin - leave someone else holding those high priced coins - free market & capitalism at it's finest unencumbered by government oversight & rules.

welcome to the wild west and I love it!

Hello Bitcointalk, i am looking to put together a team that will create a coin that is absolutely unique in all of crypto. i have spent alot of time analysing crypto markets and coins and from very early we all saw some problems with asics, and multipools having too large an advantage over "joe-miner". this is why i spent much time thinking about how to solve this.

as we all know, this is how the story goes.

coin gets launched
miners get mining
price goes up
10gh miner jumps on board vs the collective 550mh of individual miners
by the time his coins are confirmed 10gh sends to market
sells down all stock and sets coin value back to day 1
all early investors get screwed

over time ive realized that some of these problems occur for a few reasons that can be blamed on the community, the traders, the dev or sometimes simply a lack of investment due to low marketing.

but the majority of the time it's because someone with much more hash at their disposal is willing to crash the market and get back at least his investment into the giant mining rig he acquired or rented.

ive decided to put a stop to this. however, i will need your help. by observing the successes and failures of so many coins as we see on the market today, id like to create a coin that remedies all the problems faced with crypto today. the sad matter of the fact is that because of huge mining farms and the current structure of crypto algorithms, a coin will hold more value to someone with less hash than it would for someone with large amounts of hash. a coin that holds value because all miners have a near balanced value of each coin they mine.

i believe the objective of crypto is to become useful in day to day commerce. retail, paying bills, travel, bars and clubs, casinos and as a general form of payment for goods and services. this generally contributes greatly to make a coin "holdable" with confidence. such as with fiat. i also believe that the only thing that is bad for a coin is selling it for fiat. as btc can be reinvested multiple times into a coin which means that just for example - 5btc can raise the value of a coin to 1million dollars and hold there if all the players who get in, never get out after they got in the first time and just hold their coin, or sell just a little based on market demand. ensuring that each new investor pays a slightly higher price, however confident that even though he did pay more, all his coins are still valued at the price they currently are at. and further will increase in value with the next investor.

this method will be a great plus to crypto, however, community members regularly come and go based on their speculation of the markets. but also because investment is limited, and many are trying to boost their investment capital through investment.

this is why i want to create a coin that will constantly increase in value as long as there are new investors coming along. but to do that the algorithm needs to set squarely in the minds of miners/investors an equal value. which is to say... both huge farms as well as small miners will have the same value for each coin they mine, thus establishing a floor at the value the algorithm dictates.

my problem is that i am not a programmer, and i need a programmer or team of programmers to work with me and the ideas behind this project. perhaps it can be considered an experiment. but what i guarantee is that the behaviour of the algorithm as i will specify will be unlike any coin that currently exists. totally original and tbh i dont know why it hasnt been done yet.

most reading this might be expecting some sort of anti-multipool/megafarm coin. however, the opposite is the case. this coin will welcome large hash.. the more hash the better as usual it will strengthen the network... but without bringing down the value of the coin and without causing a fork. the coin will effectively be immune to both 51% attack and multipool abuse. that's right, bring as much hashpower as you want to this coin. there will be no limit. the coin will be structured in such a way that everyone in the world can participate, mining on the mobile phones, laptop etc which will contribute to worldwide adoption. the other facets of the coin i will release later on in stages as i hope to acquire some interest in this project from this post. a discussion that will not reveal too much of this coin's innovation until it has been created and tested. but dont worry devs.. it wont be hard.. it's a very simple solution, that takes from the strengths of every coin in crypto but adds some new innovation as well. it shouldnt be hard to code.

my goal and reason for wanting to create this coin are very much sentimental. as we all know we dont want any coin to be centralized. but more and more every day as with human nature, some are finding ways to control and dominate a coin. causing much of crypto to become centralized. the coin i would like to create will also eliminate such centralization unless large amounts were purchased by an investor.. which is perfectly fine since he wouldve paid a price he is willing to pay and joe-miner wouldve sold at a price he was willing to sell.

providing this coin does what it is programmed to do as that inter-relates with market and trade behaviour, the stability of value will escalate this coin to be used by merchants very quickly as this is what they look for. merchants dont like heavy fluctuation of value or as it is called in trading.. "volatility". they prefer to see the value of a coin holding steady, with minor rises and falls for extended periods of time as this is an indication that market demand and supply is balanced at that value.

the name of this coin will also be very innovative, easy on the tongue and familiar so it can be used in the real world to denote currency. however the name is also what will define this coin as it's algorithm will behave as the meaning of it's name. that is all the clue i am willing to give about it for now.

if there are any devs out there willing to work with me on this project please, feel free to make a post or msg me and we can discuss further. i dont have any problem discussing this on the public forum, but because of the innovative technology of the coin i will have to keep some things secret until the coin is actually developed, tested and launched.

i am also interested in investors who may be willing to contribute to the development of the coin. as usual i would like to make it 0 premine and would like to be involved from the get go

please post your interest whether as a dev or investor of this idea. everything regarding currency and payments with the project will be 100% transparent as i also believe that people feel better when they can know where their money is any time they want to check. all financial data will be publicly available and to a great extent, controlled for expenditure as deemed needed by the community that develops around thiis coin.


1. *Sakura*    - 0.1Btc(submitted)
2. Geenstijl     - 0.1btc(submitted)
3. Gambiman  - 0.2btc(submitted)
4. Mouse020   - 0.3btc(submitted)
5. ^_^           - 0.1btc(submitted)
6. fakeshadow - 0.1btc(submitted)
7. BillTech       - 0.1btc(submitted)
8. Rimba         - 0.3Btc(submitted)
9. Kooness       - 0.3btc(submitted)
10. pseudonymdude - 0.4btc(submitted)
11. Tam222     - 0.1btc(submitted)
12. Primitive     - 2.8btc(submitted)
13. crashoveride54902 - .25btc(submitted)
14. tobeaj2mer01 - 0.75Btc(submitted)
15. IGFU         - 0.1Btc(submitted)



1. tobeaj2mer01 - 1Btc
2.
3.
4.
5.
6.

A pledge of 1 btc has been made to the development of this project to start things off.

investor positions will now be on a first come first serve basis until the 2btc requirement is met. The project will also continue to take note of any late investors for in the event that one of our investors drops out or fails to meet his pledge when required. we will also look from these investors if the project requires any additional funding and will open a new slot for investors as is deemed necessary for the development of the project.

June 30th 2014 - Core Investment Group
Our Core investor group is formed and full funding for our coin template has been pledged. additional pledges will be listed as backup investors and will be called upon in the event that a position is made vacant or as deemed necessary to the funding of the project to completion and launch.

July 4th 2014 - Graphics and Animation Designer

i've acquired a graphic artist and animation producer for our project. he'll be working on the design of our logo and animation projects which will be used to market our coin globally. more updates to come soon.

July 17th 2014 - Web Development

Our project has now secured a hosting package for the project which will host our official website and forum. Web Developers please apply via pm with your interest to fill the position of Lead Web Developer and are asked to have ready samples of your work and any references that may confirm your talent and reliability. The Domain and currency name will soon be provided in a new [ANN] and current investors are asked to have their pledges handy as well as to ensure that you have supplied me with an email contact which i will send the design document to for your review before the coding process begins.

July 26th 2014 - Web Dev Acquired - Initial Investor list Extended

To see today's Update please click on the following link: https://bitcointalksearch.org/topic/m.8037526

The New Dev Fund ddress has been generated and we are currently accepting submissions to help speed up progress.

BTC DEV FUND ADDRESS: 1585Vrf5v2bWfvqss3Fsn7kbhgQcEwyv3c

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Today we've reached the full funding requirement for phase1 investment placing us ready to begin development. Funding was raised by acquiring investors of the crypto community via public offering on this thread. now that we've reached the required target for this stage in the project the thread will remain open, but may soon be abandoned as we near completion and launch. a new [ANN] will be created for our new currency. those interested may still request to be added to the backup investor list for phase 2 which will include an ipo of a small amount of coins to fund further development before launch and being available for trade. please post or pm your interest and ill keep you updated on availability.

Best Regards,
Coinler