Topic: NewBit - Suggestion for a new coin (Read 503 times)
Why not just mine at a loss in a big pool?
Reserved also...just in case...of what I have no idea but damn it I haven't been able to get in on Reserving a first page slot YET so I'm going a little wild.
Reserved
I thought I noticed a pattern emerging with the truly staggering number of alts that were released over the last couple of weeks and so I did a little digging, not like data mining digging but I did put some time into searching and reading through a painful number of [ANN] threads.
Things I noticed:
1) there seemed to be a "core" group of alt-miners that just freakin' enjoy mining stuff...doesn't matter what it is;
2) there were almost always new members on a thread asking for help setting up everything from .conf files to cgminer batch files;
3) EVERY...SINGLE...LAUNCH, without exception, was, is and will be an orphan-fest-orama;
4) within ten minutes of launch, the lucky/fast/prepared/experienced miners were creating [WTS] threads for for ridiculous amounts of coins.
Why does this matter and what am I suggesting? Well, first of all I don't even know if it's possible and if it isn't then what I'm suggesting simply won't work.
NewBit - the name is a combination of Newb and BitCoin
It would be a coin (NWB...notice the distinct LACK of a "C" at the end...that was SO May 2013!) that has the following characteristics:
LiteCoin clone so we can use scrypt and allow the newbs to use their CPUs if they just don't have a good enough GPU and to prevent it from being ASIC attacked...however...
Even if it were attacked it wouldn't matter because
1) the blockchain is destroyed and recreated every 30 days -- BY DESIGN
2) coins "expire" or age out after 5 days -- BY DESIGN
3) the difficulty would be FIXED to never rise above a certain level...period
4) sufficient block reward to make the experience "enjoyable"
5) minimal confirmations necessary (5? 10?) because...the blockchain is destroyed every 30 days
6) long enough block target to at least try to keep orphans to a minimum at first (nothing is going to eliminate them though)
But WHY?
To reset the coin and start over every 30 days. The purpose of the coin is NOT to be used as a commercially viable alternative to ANYTHING. It's designed as a...coin with training wheels. I got the sense that people were releasing coins (aside from pump and dump to become overnight quadzillionaires) because they could and because frankly, solo mining can be a rewarding experience when you see that 20 or 50 or 524,288 show up in your wallet. Coins would expire or age out for the same reason. Why pump and dump something that is going to cease to exist and be re-created in less than a month?
It would, for this coin at least, prevent some of the craziness surrounding the coin and hopefully kill the religious zealotry because this coin is designed to fail from the very beginning. We know when it's going to die because the birth certificate has an expiration date.
What else would be needed?
Well, the community would need to support it. I don't mean try to get it on Cryptsy or any other exchange, I mean we as a community would need to pull together, if you were interested and make the first page of posts USEFUL to the newb.
1) a .conf file that is ready to cut and paste on day one with addnodes if necessary;
2) pools set up and ready to run as soon as it is re-launched on the first day of the month (or the fifteenth, or the 8th at 8:17 AM MST...whenever we decide);
3) sample batch files that, in many cases, should work for ANY configuration. I don't know if this is possible because I have an nVidia GPU on my laptop (work laptop, only computer I use) but it seems that there are some general "fallback" settings that should "always" work, regardless of your card if it's an ATI/AMD.
cgminer batch file(s) - AMD/ATI GPU
cudaminer batch file(s) - nVidia
minerd batch file(s) - CPU
stratumproxy batch files - Set up a local stratum server
4) links, inside the thread, to download any/all necessary tools:
pooler-scrypt
guiminer-scrypt
stratumproxy (if they don't want the whole guiminer-scrypt bundle)
Any tools useful to identify hardware
Any other tools we decide would be helpful
5) PRE-COMPILED BINARIES for the Windows-qt wallet
6) Documentation/explanations of the process to get things going
But...but...but isn't all that stuff already out there on the forum (or) but...but...but that stuff IS already out there on the forum.
Yes, yes it is. Spread out somewhere in 217 PAGES of threads...each thread being heaven only knows how many pages long. Consolidation is the key. Put it all in one place.
Why would I want to be a part of this/waste my time on this/invest any effort in this at all?
If you see it as a waste, you wouldn't and...well, the ignore button is right over there below my name. On the other hand, why do we have bitcoin, the altcoins? It's so they will get used. Why do we have this forum? I sincerely hope it isn't so we can all have an echo chamber and talk about how great we think crypto-currencies are amongst ourselves because that does nothing to further the cause.
This would be there so that people new to the phenomenon (no, I really don't think it's a craze or a phase) can get their questions answered, see it work, be "successful" in this new arena and have a positive experience and do it all in an environment/ecosystem where the only thing they have any potential to lose is a little bit of electricity while they learn.
So, is an expiring coin and a mutually agreed upon monthly deleted block-chain something that can be done?
Ideas, comments, suggestions...disparaging remarks?
Things I noticed:
1) there seemed to be a "core" group of alt-miners that just freakin' enjoy mining stuff...doesn't matter what it is;
2) there were almost always new members on a thread asking for help setting up everything from .conf files to cgminer batch files;
3) EVERY...SINGLE...LAUNCH, without exception, was, is and will be an orphan-fest-orama;
4) within ten minutes of launch, the lucky/fast/prepared/experienced miners were creating [WTS] threads for for ridiculous amounts of coins.
Why does this matter and what am I suggesting? Well, first of all I don't even know if it's possible and if it isn't then what I'm suggesting simply won't work.
NewBit - the name is a combination of Newb and BitCoin
It would be a coin (NWB...notice the distinct LACK of a "C" at the end...that was SO May 2013!) that has the following characteristics:
LiteCoin clone so we can use scrypt and allow the newbs to use their CPUs if they just don't have a good enough GPU and to prevent it from being ASIC attacked...however...
Even if it were attacked it wouldn't matter because
1) the blockchain is destroyed and recreated every 30 days -- BY DESIGN
2) coins "expire" or age out after 5 days -- BY DESIGN
3) the difficulty would be FIXED to never rise above a certain level...period
4) sufficient block reward to make the experience "enjoyable"
5) minimal confirmations necessary (5? 10?) because...the blockchain is destroyed every 30 days
6) long enough block target to at least try to keep orphans to a minimum at first (nothing is going to eliminate them though)
But WHY?
To reset the coin and start over every 30 days. The purpose of the coin is NOT to be used as a commercially viable alternative to ANYTHING. It's designed as a...coin with training wheels. I got the sense that people were releasing coins (aside from pump and dump to become overnight quadzillionaires) because they could and because frankly, solo mining can be a rewarding experience when you see that 20 or 50 or 524,288 show up in your wallet. Coins would expire or age out for the same reason. Why pump and dump something that is going to cease to exist and be re-created in less than a month?
It would, for this coin at least, prevent some of the craziness surrounding the coin and hopefully kill the religious zealotry because this coin is designed to fail from the very beginning. We know when it's going to die because the birth certificate has an expiration date.
What else would be needed?
Well, the community would need to support it. I don't mean try to get it on Cryptsy or any other exchange, I mean we as a community would need to pull together, if you were interested and make the first page of posts USEFUL to the newb.
1) a .conf file that is ready to cut and paste on day one with addnodes if necessary;
2) pools set up and ready to run as soon as it is re-launched on the first day of the month (or the fifteenth, or the 8th at 8:17 AM MST...whenever we decide);
3) sample batch files that, in many cases, should work for ANY configuration. I don't know if this is possible because I have an nVidia GPU on my laptop (work laptop, only computer I use) but it seems that there are some general "fallback" settings that should "always" work, regardless of your card if it's an ATI/AMD.
cgminer batch file(s) - AMD/ATI GPU
cudaminer batch file(s) - nVidia
minerd batch file(s) - CPU
stratumproxy batch files - Set up a local stratum server
4) links, inside the thread, to download any/all necessary tools:
pooler-scrypt
guiminer-scrypt
stratumproxy (if they don't want the whole guiminer-scrypt bundle)
Any tools useful to identify hardware
Any other tools we decide would be helpful
5) PRE-COMPILED BINARIES for the Windows-qt wallet
6) Documentation/explanations of the process to get things going
But...but...but isn't all that stuff already out there on the forum (or) but...but...but that stuff IS already out there on the forum.
Yes, yes it is. Spread out somewhere in 217 PAGES of threads...each thread being heaven only knows how many pages long. Consolidation is the key. Put it all in one place.
Why would I want to be a part of this/waste my time on this/invest any effort in this at all?
If you see it as a waste, you wouldn't and...well, the ignore button is right over there below my name. On the other hand, why do we have bitcoin, the altcoins? It's so they will get used. Why do we have this forum? I sincerely hope it isn't so we can all have an echo chamber and talk about how great we think crypto-currencies are amongst ourselves because that does nothing to further the cause.
This would be there so that people new to the phenomenon (no, I really don't think it's a craze or a phase) can get their questions answered, see it work, be "successful" in this new arena and have a positive experience and do it all in an environment/ecosystem where the only thing they have any potential to lose is a little bit of electricity while they learn.
So, is an expiring coin and a mutually agreed upon monthly deleted block-chain something that can be done?
Ideas, comments, suggestions...disparaging remarks?
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