I am going to create a better alt coin, anyone interested in joining me?

hendo420

sr. member

Activity: 420

Merit: 250

Quote from: mc_lovin on May 06, 2013, 08:57:47 PM

Quote from: hendo420 on May 06, 2013, 07:09:58 PM

Make it fast like CNC is (1 min or under for first confirm)
be available for support.
Make starting difficulty relatively low but not insane (don't let people mine 50% of the max coin in the first day. More like 10-15%)
set up a few pools before hand or offer bounty's to get them put up b4 the coin is launched.
It has to be scrypt, or a new crypto if your up to it.
Offer bounty's ahead of time to get exchanges to add it first day. This reduces build up and sudden drops after the exchange picks up the coin.

Do these things and your coin will thrive.

I'm not a very good programmer, I know some java and visual basic. About enough to get myself in trouble. lol But what I do have is good ideas Cheesy

Hit me up on skype (same name) if you want to bounce ideas off me.

Fast =/= Better.

There is a reason they chose 10 minute blocks for Bitcoin. It gives enough time for the network to download all the blocks to keep caught up.

fast = better for retail sales.

Say I want to go to the gas station and get some gas. Lets just imagine they take bitcoin. I pull up and pump my gas. Pull out my phone and pay the teller and wait 20+ minutes for the first confirm b4 I leave.

Now lets imagine if that teller took something like CNC. I pull up and pump my gas. I pull out my phone and pay the teller and wait ~1 minute, but I don't wait 1 minute because it takes more than that to walk to my car and leave.

Speed = real world day to day usability.

Paying for fast food in a drive through even becomes viable.

mc_lovin

legendary

Activity: 1190

Merit: 1000

www.bitcointrading.com

Quote from: hendo420 on May 06, 2013, 07:09:58 PM

Make it fast like CNC is (1 min or under for first confirm)
be available for support.
Make starting difficulty relatively low but not insane (don't let people mine 50% of the max coin in the first day. More like 10-15%)
set up a few pools before hand or offer bounty's to get them put up b4 the coin is launched.
It has to be scrypt, or a new crypto if your up to it.
Offer bounty's ahead of time to get exchanges to add it first day. This reduces build up and sudden drops after the exchange picks up the coin.

Do these things and your coin will thrive.

I'm not a very good programmer, I know some java and visual basic. About enough to get myself in trouble. lol But what I do have is good ideas Cheesy

Hit me up on skype (same name) if you want to bounce ideas off me.

Fast =/= Better.

There is a reason they chose 10 minute blocks for Bitcoin. It gives enough time for the network to download all the blocks to keep caught up.

Monetizer

hero member

Activity: 812

Merit: 1000

I would love to be involved in this project. I am good with marketing and setting up websites etc. I have many great ideas that could be worth looking into. Please PM me if you would like my help.

gudmunsn

sr. member

Activity: 336

Merit: 250

I'm a web freelancer and can implement customized CMS's for easy site updates. If you need somebody to help put up the website, I'd be glad to help.

Etlase2

hero member

Activity: 798

Merit: 1000

Quote from: pizza on May 06, 2013, 08:24:08 PM

The focus needs to be speed with a minimum standard of security, unit both can be accomplished, the end goal should be instant confirms like ATMs and Credit Card transactions.

The current technology might not be able to achieve these goals, that's why it's important to have an architecture when changes can easily be made in the future to the coin in terms of speed and security.

Proof-of-consensus can achieve fast confirmations with a high level of security.

pizza

member

Activity: 112

Merit: 10

The focus needs to be speed with a minimum standard of security, unit both can be accomplished, the end goal should be instant confirms like ATMs and Credit Card transactions.

The current technology might not be able to achieve these goals, that's why it's important to have an architecture when changes can easily be made in the future to the coin in terms of speed and security.

Twerka

full member

Activity: 154

Merit: 100

Send you a PM.

0150r

newbie

Activity: 58

Merit: 0

Quote from: dokosten on May 06, 2013, 07:19:37 PM

Make it CPU friendly, but GPU must still be more efficient to make sure the average Joe has a chance against server farms. Would be awesome if it could be ARM/Mobile friendly aswell.

Not possible...If someone has a GPU farm, the certainly have a bunch of CPU's running with them. A CPU mined coin would easily be able to be put on botnets, and server farms. If you can afford 100 GPU's to mine with, you can afford a bunch of PC's to mine as well.

hendo420

sr. member

Activity: 420

Merit: 250

Quote from: dokosten on May 06, 2013, 07:19:37 PM

Make it CPU friendly, but GPU must still be more efficient to make sure the average Joe has a chance against server farms. Would be awesome if it could be ARM/Mobile friendly aswell.

I like the idea of a coin that can only be mined with an arm processor. No idea how to go about that but its a great idea. I can see people buying up all the old cellphones off of ebay to mine with. lol

dokosten

newbie

Activity: 41

Merit: 0

Make it CPU friendly, but GPU must still be more efficient to make sure the average Joe has a chance against server farms. Would be awesome if it could be ARM/Mobile friendly aswell.

ultraimports

full member

Activity: 188

Merit: 100

I think you should make one that the shares you 'solve' will give you a 'ticket' to raffle the higher % of the coins when its finally solved. This way, some of the smaller miners can at least get a chance at getting higher payouts, but mathematically, the ones that get more of the raffle will usually get the higher payouts.

Would be interesting....'luckcoin' ...'randomcoin' ...'lottocoin'

Of course the remaining shares would go to the miners as usual breakdown of %.

dreamhouse

hero member

Activity: 1073

Merit: 666

Yes very good advices

hendo420

sr. member

Activity: 420

Merit: 250

Make it fast like CNC is (1 min or under for first confirm)
be available for support.
Make starting difficulty relatively low but not insane (don't let people mine 50% of the max coin in the first day. More like 10-15%)
set up a few pools before hand or offer bounty's to get them put up b4 the coin is launched.
It has to be scrypt, or a new crypto if your up to it.
Offer bounty's ahead of time to get exchanges to add it first day. This reduces build up and sudden drops after the exchange picks up the coin.

Do these things and your coin will thrive.

I'm not a very good programmer, I know some java and visual basic. About enough to get myself in trouble. lol But what I do have is good ideas Cheesy

Hit me up on skype (same name) if you want to bounce ideas off me.

dreamhouse

hero member

Activity: 1073

Merit: 666

Thanks Etlase2. I need to understand what you have first. If we could implement it, let's do it

markm

legendary

Activity: 2940

Merit: 1090

Excellent, at last coding of decrits can begin.

-MarkM-

superduh

hero member

Activity: 602

Merit: 500

i'm down with this project. it's about time we come up with something meaningful

AirCoin (lighter than a feather, feathercoin)
InvisibleCoin (you don't quite know how much you have)
..
all joking aside
if we are to come up with a new coin it better be good

Etlase2

hero member

Activity: 798

Merit: 1000

I am a programmer, and I've spent around 2,000 hours learning/designing (on paper) cryptocurrency 2.0. Link is in my signature, you will be interested if you really want to shake things up. The blueprint is ready to go.

dreamhouse

hero member

Activity: 1073

Merit: 666

OK, given so many garbages out there, with very heavy preminings, it does not make sense that I waste time there. I plan to create a new one. Whoever wants to join are welcome. I'll form a team of 4-5 people. PM me if you are interested.

In the PM please identify your strong points, like:
- programming (C/C++)
- marketing/forum promotion
- leadership (<-- be careful there, a team needs only one)
- website, pool, etc setup etc

or other skills that I did not list.

Myself I am a programmer, know pretty good all aspect of C and C++. So I am more looking for other skills.

So let's create ours, a better one.

Topic: I am going to create a better alt coin, anyone interested in joining me? (Read 1168 times)