Topic: Help making a new Altcoin (my plan explained inside) - page 2. (Read 1160 times)

The point is, at least five coins already exist that you can mine yourself with a CPU thus have incentive without having to buy a rig, they already have grass roots userbase, all kinds of people armed only with CPUs owning oodles of them, exactly the kind of grass roots distribution that bitcoin enjoyed back before GPU mining came along, some have more than a year, maybe even more than two years, of people picking some up here and there, so they are exactly like bitcoin was back before GPU mining came along.

So not only is all your work already done for you, it already has had a year or two of grass roots distribution,

You save yourself a year or two of trying to sneak around "under the radar" avoiding getting jumped on by GPU miners and FPGA miners and ASIC miners because they already have managed to stay under the radar for a year or two.

Heck why only pick up on one of them, you can merged mine a few of them, you could pick three different types of goods / services / merchants to promote to, promote to each a coin to be their coin associated with their type of service or goods or merchandise or whatever, set them up mining it with CPUs to get started, while yourself mining all three at once using merged-mining with your CPU!

No less than five coins are here waiting already created for you, already with the kind of grass roots CPU-miner distribution already done for a year or two for you, just get out there and market them!

They aren't going away, they just have gained a lot by letting all the huge miners imagine they are dead so that CPU miners can continue the kind of grass-roots distribution that bitcoin itself enjoyed for its first few years.

This is probably BETTER than starting a new coin, since you are concerned about not being able to mine any yourself thus not having incentive to promote the coin. You can merged-mine GRouPcoins, CoiLedcoins and GeistGeld with your CPU, gathering as many coins as you wish before attracting all the big miners who would jump all over any brand new coin taking all the coins for themselves and driving the difficulty way up beyond where your CPU could reasonably mine it.

So basically you seem to just be trying like crazy to make up any pretend reason for "needing" a scam coin to pump and dump, since all your "reasons" actually make all these existing coins BETTER than making a new coin.

-MarkM-

I agree with all that for bitcoin, being the local dealer makes great sense. My concern is mainly for altcoins.

For Bitcoin, being such a new technology and all that earned it many adopters learning how to use it so you have many different people with different skills who've embraced bitcoin (which I do evangelize whenever I can, I'm actually trying to convince my boss to take bitcoin for the company, we sell financial education)

My concern is more about altcoins, now that you have army of miners that can quickly soak of the supply of newer coins which means all the incentive to promote the coin is in the hands of a few people, and yes the coin eventually sputters out through the exchanges but you don't get the same organic distribution that occured with bitcoin when you had people discovering the process little by little.

And seeing altcoins as competing and complementing enterprises this concerns me about the viability of most altcoins.

In my videos I constantly promote BTC/LTC/PPC but I was hoping to endeavor in a new project and though I'd put it out there to see if anyone would be interested.

I'm still going to pursue the project if anyone is interested in helping out still.

Sorry if I sound disjointed, this whole idea came to me after a 12 hours work day so I'm not expressing myself as clearly as I usually like at the moment.

You don't actually seem to be making sense from a marketer standpoint.

Pretty much the whole spiel of a marketer is they are the money-maker, they are where wealth comes from, goods and services are just a bunch of crap, grist for the mill, it is marketing that makes all that crap worth anything.

So just go out and sell people on any existing coin, it doesn't matter which, and roll your percentage / commission into the price you charge them for the coins. Sell them a startup kit, a bunch of coins to get them going, whatever. You're the marketer, you *create* the incentives! Sheesh!

Heck you can hold $5000 per seat seminars on how to get rich by accepting cryptocoins fergoshsakes!

How easy did you find it to get a proper MtGox account that can actually withdraw money? Relieve all your customers of all that hassle by being their local coin dealer! Its a massive hassle, they'll be greatful not to have to deal with it!

-MarkM-

EDIT: Also, there are SEVERAL chains you can EASILY mine VERY NICELY with just CPUs, so your lack of a super-rig is no excuse, even just one old time one-core CPU can rake in coins right now. Try GeistGeld, for example, or GRouPcoin, or CoiLedCoin or even I0coin... Or if you prefer scrypt based coins, mine Tenebrix.

The problem is incentive

There is a great incentive for people to mine coins, but I'm in no position to build a rig worth mining especially since the difficulty is already so high on coins worth mining.

But there isn't as much an incentive to market the coins (I'm no marketing newbie, ill put it that way) other than bitcoin since its the original and that's more out of promoting a cause.

If someone wants to pay me x coin to promote x coin to organize and try to get a consumer culture going In x coin I'd be interested in doing.

I'd like to take on this project but to create an incentive for me to follow through it makes since for it be a new coin so I can have a stake in the game. (This is why I'm bullish on ripple, while its Pre-mined, it's founder has a stake in see it through and making it work and has a plan to do it)

I'm a techie but I'm no expert hardware or programming to compete, but in marketing and economics I'm much much stronger so with the right team a lot can be done.

No offense, but unless you are a marketing guru, I would stick to pushing one of the current ones.

Hey,

 I'd like to start yet another new altcoin, where I plan to innovate is not so much in the code but in the level of support. Basically I want to create an copy of lite coin with a particular name (name to be told to whoever helps me out)

The difference is I'm going to do my best to actually provide goods and services purchasable in this coin from the get go to make holding it very practical and am going to essentailly talk to other crafts people and such and try to sell them on the idea of accepting it as well.

So while technologically nothing new, I'll be working hard at doing what I don't see many altcoins doing... getting it used in day to day life.

If someone would like to help me with this, PM me

Alex

P.S. What I need help is finding someone to edit the code and compile the QT client to get the new block chain started, I'm trying to learn how but it'll take a while for me to truly wrap my head around since I've only done a small bit off programming and that a decade ago which I rather use the time actually promoting and evagelizing cryptocurrency and working to get it used by more vendors in more places.