Topic: I will create a forked bitcoin chain - page 3. (Read 6929 times)

Hi wingding! Thanks for introducing yourself in my thread. I read both of your threads and agree with your "why" logic. I have to admit this is one of the more interesting approaches so far. Specifically forking off the existing chain.

How far along are you? I might like to help out.

Technically, it doesn't seem particularly hard. Are you going to set it up to use merged mining? That seems logical since you are giving the people already mining bitcoin free coins.

I think the word "forked" in the topic is confusing people. It makes it seem like you are trying to create duplicate BitCoins. I'm pretty confident that is not your goal. It might be useful to adjust your description to one that parallels what other AltCoins have done.


You should also make it clear that LinearCoins are not BitCoins and will never operate as interchangeable (value equivalents) with merchants or existing exchanges. Might also make it clear that BTC to LnC trading will have its own market determined exchange rate.

Just a suggestion.

I hate to tell you this, but no, it doesn't.

Random thought; probably nonsense...

Couldn't someone fork one of these AltCoins while it's still early, leave everything the same, but adjust the difficult to a something stupid low, and solo mine it?  Wouldn't that fork the chain at the genesis block, essentially?

Yes you understood me right, I dont have to create any genesis block. All oldcoins get included by beeing there. How in the world do you think I could influence the transaction in the old chain? Thats not possible. Appearantly your term inflatacoin suggest that this new coins would be subject to inflation. In that part you are wrong, and I believe you know it. Bitcoin had even larger rate of increase in its beginning. Remember that word inflation refers to value of the asset, not the amount.

I was interpreting wingding's statement as describing how coins issued prior to the fork would still be spendable on the inflatacoin side of the fork ... that they wouldn't be touched (i.e., "harmed").    But my assertion is that any spending of a "pure" coin issued pre-fork is a valid transaction on both sides thus any spending on the inflatacoin side is harmful to the holder of the coin.

A pure coin is one that has no taint from the coins issues after the fork, and thus would be a valid spend transaction on the Bitcoin blockchain side as well.

Now I suppose you could ensure that the inflatacoin client included in every spend transaction some taint in the INPUTs so that the transactions would only be valid on the inflatacoin side.  I still personally wouldn't use any coins with that client until they've been fully spent on the Bitcoin blockchain side, but after that I might milk the inflatacoin fork for whatever I could get from it, sure.

Seriously dude?  Thats mondo easy.  take all the adjust values for unspent outputs and write them into the genesis block to the address they belong as coinbase txs. 

Agreed, any other ASIC HOSTILE crypto currencies out there with a working forum?

I think after 75% of coins are mined, these kind of thoughts will become more and more

Just feel strange that people never complain that central banks being the only early adopter of fiat money creation

This sounds like a good JokeCoin submission to me.

I bet the OP intention are not a fork but an alt-coin !
Bad title, and no future to this !

FAIL

How would you do that?

From another thread by winding:


And yet another thread by wingding:

No I would never ever touch the earlier coins- that would certanily be a disaster. And the early adopters arent a problem. The problem is that there are not supply for tha large masses to enter - who now are completely left to the grace of the early adopters.

the only "fair" way is to implement demurage to BTC and eventually to all other coins out there. FRC has it already!

That's an interesting concept.... perhaps a deflation model where the block reward starts at say 1 coin per block and every 4 years 1 coin is added to the block rewarded.  Someone graph the inflation rate :-)

I think Litecoins can solve this problem right? Then maybe years later when Litecoins are worth $1000 another coin like PPC can be used for smaller transactions since it has no currency limit.

I suggest calling it Splitcoin, since you forked or split it from the original. 

You could also fix the early adopter/bitdust problems.


1)  Any unspent coins generated/transferred but not spent since the first 18 mos of the network are deleted.

2)  Unspent balances less than .01 are gone

3)  Coins older than 12-18 months are divided by 2.  Coins 18-24 months old divided by 4.  Coins 24-36 months old divided by 8, and the rest are older than 18 months and are deleted.

4) to prevent windfalls to mt gox, who hold a bunch of accounts and won't give that money to their customers in the new chain, cap btc address balances at 100 BTC (currently $10k).  

This might reduce that 11 mil number to like 7 or 8 mil.   you then increase the total coins to ever be released to 100 mil, so current users wind up with 7-8% of the total future supply.

You could form a genesis block that has a special coinbase.  All the current unspent addresses would be the coinbase with balances next to them.

Then you could come up with an adoption schedule over the next 10 year:
Year   % distributed
0:          7 or 8 %  (current base of coins)
1:         +2%
2:         +3%
3:         +5%
5:         +7.5%
....
8:          +15%
9:          +5%
10:        +1%
----------------
Total:    100%


I also suggest changing the protocol to prevent dust.  The minimum unspent output should be established at say 0.001 for txs created in the next 10 years, then 0.0001 (add a decimal place) next 10 years, etc...

Also consider implementing a minimum tx fee, which would kill the need for all this 'how old is yo coin' crap code.

it's: looks like poo, unhappy user, close program, dead altchain. In wingdings for the wingding dingdong.

If the form supported emoji in Unicode 6.1, there's an appropriate character:

Something something something raise pirates from the dead?

Are you going to call it forkcoin?

I like the idea of altcoins quite a bit.  I'm not as enthused by this one, since it sounds like very little thought went into it.  You are changing a single variable in main.h, and doing some cross-compiling.

If you're going to fork something, maybe start with one of the recent innovations, like LTC, PPC, or NVC?  Hit up newnetcoins.com, read about other failed coins, and try to learn from how and why they failed?  Then, make your modifications, release the new coin, but have things already in place...  binaries for at least 2 platforms, a couple competing pools, a faucet, and maybe a service where you could spend it?..  a game or something?  Run a closed alpha with a small group on a testnet, and a beta with volunteers (blockchain will be deleted) so you can work out the launch bugs.

You know...  launch a coin?

Or, you could do as you've said you would, create a new coin, post a link in the JokeCoin thread, and see how many days it lasts.