Topic: [Pre-Ann][UnitedCoin]New Algorithm-ASIC Resistant-Super Anonymous-Help Science (Read 1985 times)

I've been hardening out the details and thinking of ways to improve on the current Darksend structure to help add more anonymity benefits.

You're welcome!

Thx for the news!

I hope so



Some people have been PM'ing me some great ideas working on incorporating them all. I have finals next week but after that I will begin to finalize the plan of the coin, prove feasibility and launch fundraiser 1. I have planned it out and their is a very high chance that the premine will be reduced down to just 0.50% - however, how long it takes us to fulfill the first fundraiser will likely be a part of this.


The price I am currently tossing around for fundraiser 1 is 5 BTC raised and the price will be 200,000 coins / 1 BTC. What do you guys think? This will get us all the way to the stage of coding most of it and testing it out on a pool with another currency - stay tuned.

goood

bump.

What anonymity / wallet features would you guys like to see - and also stay tuned - I'll probably be creating a forum soon.

Ok - make sure to keep checking this thread for the latest info.

I was thinking about this - but the problem with limiting big farms is that it severely decreases hash power. However, I was thinking about ways to make it so that for example the coin uses all of your GPU (similar to video games where their are no video game asics and video games are a much larger market - in a sense GPUs are the Asics for video games). That way GPU mining would always be the only relevant mining method - and the average person assuming electricity costs aren't to high could still construct a GPU rig to compete with the big guys.


I'm not going to go with anti-instamine blocks though I may make the starting difficulty higher than normal to decrease the chance of this.

you should find a way to keeps big farms out of the game , limit the hash power or something(maybe you can limit the maximum hashrate possible for your coin and thus the diff also)

anti-instamine blocks aren't a solution, because will leave small miners out of the game

i'm dreaming, but i'm still waiting for the coin that will kick the big farmer ass out there...

ok.
wait for more info.

To clarify: For now the name is officially United Coin!

I haven't decided if you need to be in a particular team - many people have requested to make it so that you do not - but it makes things a lot harder.


The idea is basically a new algorithm that is a combination of x11 & science so it will be mainly GPU mining only though CPUs will work too at a much lower profit. Any X11 Asics should they happen to come out before release will not work. Everyone's GPU will put ~20% of its resources towards X11 to secure the network and then 40% to folding and 40% to boinc. That way everyone's GPU works towards all three aspects. Also the mining clients will be built into the wallet with both folding & boinc options.

Once I harden in basic development things I'm going to be contacting folding and boinc lead developers to see about working with them.

Still pondering new ways I could make transactions extra anonymous - maybe even more so than Darkcoin

hi cameron,

still don't get what you mean in first post, so basically for get coins it's just to mine x11 or fold like curecoin? if  I choose to fold do i need join particular team or any team will do?

very interesting coin btw

Looking forward to more replies in the morning! - Let me know what you guys think!!!

I like the idea of people knowing how many coins a block - I doubt random rewards will go well doesn't seem professional at all to start with. Insta-mining can be worked with though.

stop insta-mining by big hashing power. mining needed to go longer so more users with smaller hash could involve.  also create random rewards so no one can predict.

Looking into how to remove/minimize the pre-mine any suggestions would help. We'll also try spreading the investor pot across as many investors as possible to keep things easier.

Except in reality the equivalent coins per block is 50 coins / block because of the super block for science. Sciences get 80% of the coins mined, however, it is done in the daily way to keep timing submissions from happening. The pre-mine is equivalent to roughly 140 days of coin mining which is actually a bit high - I may change that pre-mine to 5,000,000. However, also keep in mind that not counting paying for services, ads ect. our current plan has investors receiving 3,000,000 of those coins (and the minimum purchase as an investor will most likely be ~10,000 coins - so a decent number of those coins will be spread out).


I'll look into making the premine worth a month of the coins, and I've also toyed around with the idea of putting a restriction on investor & developer coins that for their first transaction (when they go into the investors wallet / developers wallet) that limits how long it could be before the coins are sold.


I understand many people here don't like premines and that that quickly turns them off from the coin but building a coin of this scale versus just making a copycat coin requires noticeably more resources that I can't afford to pay for at this time. I'm looking alternative methods to solve this but currently possibly increasing the equivalent coins per block to 75 or 100 and cutting the premine down to 5,000,000 + a restriction on when / how fast they can be sold / released could help solve this problem.

Thanks for the advice.



For now it is United Coin - but we haven't fully decided yet and it is likely the name will change.

I am lost. Is this coin called "sciencecoin" or "unitedcoin"?