I could contribute during development and testing. I will watch this thread closely for updates. Thanks
Will send you the detail in a day or so ca you pm me you git id .
Done. thank you
Topic: Project Nemesis - Alt-coin project - page 2. (Read 12666 times)
Will send you the detail in a day or so ca you pm me you git id .
Done. thank you
I could contribute during development and testing. I will watch this thread closely for updates. Thanks
Will send you the detail in a day or so ca you pm me you git id .
I could contribute during development and testing. I will watch this thread closely for updates. Thanks
Deva moved on and now creating on latest BTC 09RC3. hence it will take sometime. so far hashing algo changed to scrypt and genesis block done. tests going on. in next couple of days will add N factor and other stuff. probably take another 10-12 days to release TEST build for private distribution for testing purpose... without disclosing code.
--Deva.
--Deva.
Wallet when?
An altcoin for India?!! Will be a huge success if wider distribution is achieved at the launch
WE hope so...
Discussion is moved from open disscussion to private messages. hence thread seems like dead. but its not dead.
An altcoin for India?!! Will be a huge success if wider distribution is achieved at the launch
Do you really think that people will get serious if you use the coin name as "testCoin" ? When you are dealing in financial sector, do you really think that merchants will get serious if you use names like jokercoin, dustcoin, samplecoin ?
P.S: Name for coin is already decided. only thing its not disclosed so Deva using testCoin as demo name to pitch the idea.
Thats it for now. Feedback appreciated... Deva has only one request in this project.... Let him decide the name of Coin and Foundation
Thats it for now. Feedback appreciated... Deva has only one request in this project.... Let him decide the name of Coin and Foundation
oh...ok.
Do you really think that people will get serious if you use the coin name as "testCoin" ? When you are dealing in financial sector, do you really think that merchants will get serious if you use names like jokercoin, dustcoin, samplecoin ?
P.S: Name for coin is already decided. only thing its not disclosed so Deva using testCoin as demo name to pitch the idea.
Thats it for now. Feedback appreciated... Deva has only one request in this project.... Let him decide the name of Coin and Foundation
Thats it for now. Feedback appreciated... Deva has only one request in this project.... Let him decide the name of Coin and Foundation
Do you really think that people will get serious if you use the coin name as "testCoin" ? When you are dealing in financial sector, do you really think that merchants will get serious if you use names like jokercoin, dustcoin, samplecoin ?
Deva giving out his document, call it white paper or not its up to you....
P.S: Name for coin is already decided. only thing its not disclosed so Deva using testCoin as demo name to pitch the idea. This is not full proof documents. and can be altered if needed.
What is testCoin?
testCoin is P2P Cryptocurrency.... created to increase awareness and build confidence about Bitcoin and testCoin and its use throughout India. educate peoples about Bitcoin, Bitcoin protocol, security issues. with the help of testCoin.
Approx 525 B coins will be mined over period of 18 years. and then after 0.5% inflation will be added. We assume that 20%-30% Coins will be lost while promoting the Coins, due to people negligence, lost of keys, password, system crash etc. etc. so we need more coins to promote it properly. Also its decentralized currency we cannot stop outside miners. To match with India circumstances and people psychology about Fiat Currency's decimal places, we have reduced myCoins decimal places to 3 only, this will be hardcoded unlike (name removed) Coin. we want our coin price to be low priced in term of fiat currency so any everyday person can use it without hesitation. this is not hard limit we can either increase or decrease depending on discussion prior to release the software. and we will discuss if needed about supply.
In 1st year approx 68 Bil coins will be mined. Unlike Bitcoin reward halving after some block we are using %age based decreasing system. 1st 100K blocks will be with 100% reward, 2nd 100K blocks will be with 99% reward and 3rd 100K blocks rewards will be 98% and so on. ( like World Coin). so anyone can join anytime in mining program. Although separate investment in mining equipment is not suggested to mine this coin but if someone done and found that reward is halved in next month. that will be problem.
Rather than Premine whole amount at start. we start with zero Premine. ( exception genesis block, we add 1 coin in genesis block). We will use DevCoin system. where miners mine coins and some percentage will be auto deposited to project fund. which will be used for promotion and ongoing development and strengthen network. Deva believes that "Charity can't be done on empty stomach"
we will start with 50% ( can be changed with discussion). when miner mines coins 50% of their coins will be auto deposited to project fund wallet. later we can reduce this 50% to lower say like up to 10% but it wont be completely removed. we need funds to keep movement and code development intack. we have to contribute back to Bitcoin protocol as well, either in code or by funding with Bitcoin.
( Due to above reason we want reputed person or team of person to be our fund manager. who will Manage our project wallets properly. rather than using funds for themselves). Strictly Deva is not going to handle these wallets.
Algorithm: we will use Scrypt-Adaptive N Factor as our hashing algorithm. so Indian Miners can mine on their CPU without need of GPU as well. I have seen other hashing algorithms coin liken Quark, DarkCoin, MaxCoin, StacyCoin, for CPU only but it wont be possible. due to SGMiner with few tweaks any hashing algorithm coin can be mined over GPU. so we need NFactor to increase Memory requirement so the difference between GPU and CPU mining can be reduced. this Nfactor will also increase based on time passed so later years it will be only CPU mining coin only.
POS + POW: as this is not pump and dump scheme and Deva is also not intended to hit the Exchange until he done with Website and promotional/educational material. he thinks there will be less miners to mine this coins. to keep blockchain away from 51% attack and also reimburse the early miners he decided to go with hybrid POS + POW system. meanwhile Foundation will also buy coins from miners if needed to keep promotion intact.
Checkpoints: Rather than updating software for each checkpoint and release it again. we will use auto checkpoint system, few members will have password for auto checkpoint( Deva knows its kinda centralized but really needed at least for few months)
Drupal Site: We want Drupal platform based site because of its scalability. and large availability of modules.( Deva was going to suggest Plone due to security reasons.. but it will be too much and users will not be comfortable with it). We need our site to be translated in 15+ Indian language with community efforts. each of our page will be available in every language of India. Site will contains educational material, security guides, tutorials. those who contribute to site will also get compensation from foundation. We can use embedded forum and blog. so Users don't need different logins credentials for accessing forum, site and wiki, Developer will get compensation for keeping site up to date. ( Deva have noted down site requirements based on drupal platform. not listing them here because of out of scope of this paper) he will give out if we all select drupal developer for this project.
We also needs 2-3 super nodes hosted within India. compensation will be given out.
pools: same as above preferred hosted in India for better latency.
Online Wallets/Android/windows8 / iOS(?)
We need online wallets prior to start promotions.
Games/faucets : depends on community. developers will get compensation for this too. Deva have idea about one Facebook Game he will giveout once we done with all above. promotion with newspapers running faucets for newspaper readers.
Our Goals:
1) Increase Awareness about Bitcoin and testCoin through out india:
Seminars: we will generate thousands of Paper Wallet of testCoin, Create Slideshows and infographics ( Multilingual) about TestCoin and Bitcoin, Blockchain, possible usage of blockchain apart from just currency. mining, trading, securities and take Seminars in schools, colleges and offices. distribute paperwallet free of cost at the end of seminars and meetups so they can use and experience it. Foundation will also distribute Tea shirts and caps for volunteers to increase their confidence while taking seminars. we got more funds we can even distribute these things in peoples attending seminars. Volunteers will get compensated with the foundation fund.
Gift/Greeting Cards: Create Gift Cards or associate with current Gift card manufacturers, attach paperwallet with some amount filled within it, distribute in market.
ShopOwners/ business: they can buy in bulk paperwallet and giveaway as thank you / Complimentary gift to their customers.
Social Media: Promote through Facebook, twitter, reddit and other social Media sites.
Engage merchants to sell small stuffs like mobile recharge or toys for testCoins.
People can also use it to TIP to others and increase awareness.
This list is not limited, we can add few more based on peoples suggestions.
out of above 3 stage in coin software development, Deva is on 2nd stage now. if anyone like to give hand in coding. help is welcomed..
Thats it for now. Feedback appreciated... Deva has only one request in this project.... Let him decide the name of Coin and Foundation
P.S: Name for coin is already decided. only thing its not disclosed so Deva using testCoin as demo name to pitch the idea. This is not full proof documents. and can be altered if needed.
What is testCoin?
testCoin is P2P Cryptocurrency.... created to increase awareness and build confidence about Bitcoin and testCoin and its use throughout India. educate peoples about Bitcoin, Bitcoin protocol, security issues. with the help of testCoin.
Approx 525 B coins will be mined over period of 18 years. and then after 0.5% inflation will be added. We assume that 20%-30% Coins will be lost while promoting the Coins, due to people negligence, lost of keys, password, system crash etc. etc. so we need more coins to promote it properly. Also its decentralized currency we cannot stop outside miners. To match with India circumstances and people psychology about Fiat Currency's decimal places, we have reduced myCoins decimal places to 3 only, this will be hardcoded unlike (name removed) Coin. we want our coin price to be low priced in term of fiat currency so any everyday person can use it without hesitation. this is not hard limit we can either increase or decrease depending on discussion prior to release the software. and we will discuss if needed about supply.
In 1st year approx 68 Bil coins will be mined. Unlike Bitcoin reward halving after some block we are using %age based decreasing system. 1st 100K blocks will be with 100% reward, 2nd 100K blocks will be with 99% reward and 3rd 100K blocks rewards will be 98% and so on. ( like World Coin). so anyone can join anytime in mining program. Although separate investment in mining equipment is not suggested to mine this coin but if someone done and found that reward is halved in next month. that will be problem.
Rather than Premine whole amount at start. we start with zero Premine. ( exception genesis block, we add 1 coin in genesis block). We will use DevCoin system. where miners mine coins and some percentage will be auto deposited to project fund. which will be used for promotion and ongoing development and strengthen network. Deva believes that "Charity can't be done on empty stomach"
we will start with 50% ( can be changed with discussion). when miner mines coins 50% of their coins will be auto deposited to project fund wallet. later we can reduce this 50% to lower say like up to 10% but it wont be completely removed. we need funds to keep movement and code development intack. we have to contribute back to Bitcoin protocol as well, either in code or by funding with Bitcoin.
( Due to above reason we want reputed person or team of person to be our fund manager. who will Manage our project wallets properly. rather than using funds for themselves). Strictly Deva is not going to handle these wallets.
Algorithm: we will use Scrypt-Adaptive N Factor as our hashing algorithm. so Indian Miners can mine on their CPU without need of GPU as well. I have seen other hashing algorithms coin liken Quark, DarkCoin, MaxCoin, StacyCoin, for CPU only but it wont be possible. due to SGMiner with few tweaks any hashing algorithm coin can be mined over GPU. so we need NFactor to increase Memory requirement so the difference between GPU and CPU mining can be reduced. this Nfactor will also increase based on time passed so later years it will be only CPU mining coin only.
POS + POW: as this is not pump and dump scheme and Deva is also not intended to hit the Exchange until he done with Website and promotional/educational material. he thinks there will be less miners to mine this coins. to keep blockchain away from 51% attack and also reimburse the early miners he decided to go with hybrid POS + POW system. meanwhile Foundation will also buy coins from miners if needed to keep promotion intact.
Checkpoints: Rather than updating software for each checkpoint and release it again. we will use auto checkpoint system, few members will have password for auto checkpoint( Deva knows its kinda centralized but really needed at least for few months)
Drupal Site: We want Drupal platform based site because of its scalability. and large availability of modules.( Deva was going to suggest Plone due to security reasons.. but it will be too much and users will not be comfortable with it). We need our site to be translated in 15+ Indian language with community efforts. each of our page will be available in every language of India. Site will contains educational material, security guides, tutorials. those who contribute to site will also get compensation from foundation. We can use embedded forum and blog. so Users don't need different logins credentials for accessing forum, site and wiki, Developer will get compensation for keeping site up to date. ( Deva have noted down site requirements based on drupal platform. not listing them here because of out of scope of this paper) he will give out if we all select drupal developer for this project.
We also needs 2-3 super nodes hosted within India. compensation will be given out.
pools: same as above preferred hosted in India for better latency.
Online Wallets/Android/windows8 / iOS(?)
We need online wallets prior to start promotions.
Games/faucets : depends on community. developers will get compensation for this too. Deva have idea about one Facebook Game he will giveout once we done with all above. promotion with newspapers running faucets for newspaper readers.
Our Goals:
1) Increase Awareness about Bitcoin and testCoin through out india:
Seminars: we will generate thousands of Paper Wallet of testCoin, Create Slideshows and infographics ( Multilingual) about TestCoin and Bitcoin, Blockchain, possible usage of blockchain apart from just currency. mining, trading, securities and take Seminars in schools, colleges and offices. distribute paperwallet free of cost at the end of seminars and meetups so they can use and experience it. Foundation will also distribute Tea shirts and caps for volunteers to increase their confidence while taking seminars. we got more funds we can even distribute these things in peoples attending seminars. Volunteers will get compensated with the foundation fund.
Gift/Greeting Cards: Create Gift Cards or associate with current Gift card manufacturers, attach paperwallet with some amount filled within it, distribute in market.
ShopOwners/ business: they can buy in bulk paperwallet and giveaway as thank you / Complimentary gift to their customers.
Social Media: Promote through Facebook, twitter, reddit and other social Media sites.
Engage merchants to sell small stuffs like mobile recharge or toys for testCoins.
People can also use it to TIP to others and increase awareness.
This list is not limited, we can add few more based on peoples suggestions.
out of above 3 stage in coin software development, Deva is on 2nd stage now. if anyone like to give hand in coding. help is welcomed..
Thats it for now. Feedback appreciated... Deva has only one request in this project.... Let him decide the name of Coin and Foundation
WOW :) only one reply... anyway heres few more stuff
To Start with project, Deva needs few peoples on board,
Fund Manger/ mentors.
Trusted members who will manage the project funds. they will have access to projects Bitcoin wallet and our coins wallet. distribute and spend according to requirements, rather than using it for themselves. if they are not coder it's ok. but should guide or be mentor, Should be Member of Bitcoin Foundation(its not MUST factor but having Bitcoin foundation members will increase trust). Deva knows few people around here, but he won't take any names, Deva wants them to come forward themselves and be part of this movement. These peoples will be Root of the project.
website:
Deva wants Drupal developer or team of developers for coin site. logo and Theme can be designed separately or if they want they can handle it themselves. Why Drupal? sorry but Deva wont tell anything about this. Only Drupal developers can understand it :)
coin coders:
They should have studies Bitcoin, Litecoin and some alt coins code. and have C, C++ knowledge.
and some Haters
Yeh Deva need haters too infact he likes them, so that we can work efficiently to prove them they are wrong. they will help us progress and build movement.
This is some requirement before Deva starts to pitch Idea. once we get above members we will meet up on IRC and discuss it. and after that if they still don't like idea they can leave the movement.
Deva have documented some other requirements like social media presence, tipbot, online wallet, games, faucet, these are all Marketing Stuff and Deva knows what to do with it. or better say its not important until we have basic CORE member team.
last but not least even if you dont fit in above requirements. you can still join the discussion on IRC.
To Start with project, Deva needs few peoples on board,
Fund Manger/ mentors.
Trusted members who will manage the project funds. they will have access to projects Bitcoin wallet and our coins wallet. distribute and spend according to requirements, rather than using it for themselves. if they are not coder it's ok. but should guide or be mentor, Should be Member of Bitcoin Foundation(its not MUST factor but having Bitcoin foundation members will increase trust). Deva knows few people around here, but he won't take any names, Deva wants them to come forward themselves and be part of this movement. These peoples will be Root of the project.
website:
Deva wants Drupal developer or team of developers for coin site. logo and Theme can be designed separately or if they want they can handle it themselves. Why Drupal? sorry but Deva wont tell anything about this. Only Drupal developers can understand it :)
coin coders:
They should have studies Bitcoin, Litecoin and some alt coins code. and have C, C++ knowledge.
and some Haters
Yeh Deva need haters too infact he likes them, so that we can work efficiently to prove them they are wrong. they will help us progress and build movement.
This is some requirement before Deva starts to pitch Idea. once we get above members we will meet up on IRC and discuss it. and after that if they still don't like idea they can leave the movement.
Deva have documented some other requirements like social media presence, tipbot, online wallet, games, faucet, these are all Marketing Stuff and Deva knows what to do with it. or better say its not important until we have basic CORE member team.
last but not least even if you dont fit in above requirements. you can still join the discussion on IRC.
I would suggest implementing a Kimoto Gravity Well for regulating difficulty. The multipools can wreak havoc on difficulty.
Kimoto Gravity Well is an awsome idea. i think this would be much better on the longer run.
I would suggest implementing a Kimoto Gravity Well for regulating difficulty. The multipools can wreak havoc on difficulty.
Kimoto Gravity Well is an awsome idea. i think this would be much better on the longer run.
Looks like Deva and you guys are heading in same direction but with different vision. Deva dont want to discourage you by making below comments. as open source anyone is free to make anything over Bitcoin Protocol.
Deva wants to ask few questions about the project nemesis.
Very 1st why created 3 threads and not discussed only in one thread. making confusion and losing track on discussion.
Do India needs another Crypto currency?
crypto currency aka Bitcoin is made for quick transfer of money with lowest possible transaction fees, Indian ppls are not much aware of crypto currency funda yet. and each month there are 2-3 coins get launched. 1st thing Indians are not fully aware of bitcoin yet and now there are almost 150+ new coins. they are confusing where to see and what to do with it?.
Its getting like they made US dollar and so we going to make Rupee. because we want Indian Version.
Crypto currency ( Bitcoin) are decentralized you cannot bound it to any state or country.
There are plenty of things to do other than just making currency and trade for fiat. Bitcoin is just tip of iceberge. there are plenty of possibilities to invent over Bitcoin Protocal.
What happened with Laxmi coin developer team.?
There was few peoples who going to make laxmicoin where are those developers. have you talked with them and get involved or asked them to support? Deva heard they have said their software is ready an just waiting for clear guidelines from RBI.
Attributes for coin?
There are 100 of coins with different attributes. each one has different pros and cons. how many coins have to studied so far? CPU only GPU only ASCII resistance?
Distribution of coin
This really doesn't matter until you decide your vision. so if Yo put 21mil limit or ONE coin or make it 100 Bil makes no different if you stuck in profit and loss. even the low volume coin got failed. and high volume coins got stucked because of high supply and low demand. are you trying to make Currency? Commodity?
what if coin failed? whats your closing plans?
Coin may be fails either due to software problems. lack of development, lack of support. or lack of adoption or maybe something else. what's assurance for investors that their money won't be lost or atleast losses will be minimum. you can make coin and say I dont expect profit from it. but those who are investing in your coins. they want returns on it. that's why they are called investors. so what's closing plan.
Attitude:
"Well if you dont like alt coin then dont get involved in it" : this is not good attitude, it reminds me Gavins words " You really have no business creating your own block chain .......". Every Person is important when you call it community project. Did you forgot the Story "A Man who broke the Bank" taught us in school
These are just Deva's few thoughts. based on the last few days reading posts of the project Nemesis.
About Deva:
Deva's Vision is to increase awareness in Indians about Cryptography, Bitcoin , Bitcoin Protocol. so in coming next 5-10 years any 5th grade student should be able to teach others about cryptography, or may be next SHA-4 or SHA-5 designer will be from India.( no.. its not Bold Statment, We are Indians.)
He is trying to make altcoin since last 2 months. he have studied almost 25 - 35 alt coin from CPU only, GPU and ASCII dependant. He is not interested making profit out of it. but he is interested when someone else come up and say to him " Hey ! have you heard about this?". He already got his client working and running and now he have moved on 2nd stage of development. he already got promotional ideas which are not even addressed by anyone else in last 15 days in these 3 threads.
Do Deva have White Paper?
Deva dont know should he call his document as white paper or not. its just few pages document containing most of the things he studied in last 3-4 months. and attributed few facts with the Indian perspective. he puts himself in others shoes and try to look at it and notes down the things. it's not full proof.
Last but not least, Deva is not good in English so bear it :)
Deva wants to ask few questions about the project nemesis.
Very 1st why created 3 threads and not discussed only in one thread. making confusion and losing track on discussion.
Do India needs another Crypto currency?
crypto currency aka Bitcoin is made for quick transfer of money with lowest possible transaction fees, Indian ppls are not much aware of crypto currency funda yet. and each month there are 2-3 coins get launched. 1st thing Indians are not fully aware of bitcoin yet and now there are almost 150+ new coins. they are confusing where to see and what to do with it?.
Its getting like they made US dollar and so we going to make Rupee. because we want Indian Version.
Crypto currency ( Bitcoin) are decentralized you cannot bound it to any state or country.
There are plenty of things to do other than just making currency and trade for fiat. Bitcoin is just tip of iceberge. there are plenty of possibilities to invent over Bitcoin Protocal.
What happened with Laxmi coin developer team.?
There was few peoples who going to make laxmicoin where are those developers. have you talked with them and get involved or asked them to support? Deva heard they have said their software is ready an just waiting for clear guidelines from RBI.
Attributes for coin?
There are 100 of coins with different attributes. each one has different pros and cons. how many coins have to studied so far? CPU only GPU only ASCII resistance?
Distribution of coin
This really doesn't matter until you decide your vision. so if Yo put 21mil limit or ONE coin or make it 100 Bil makes no different if you stuck in profit and loss. even the low volume coin got failed. and high volume coins got stucked because of high supply and low demand. are you trying to make Currency? Commodity?
what if coin failed? whats your closing plans?
Coin may be fails either due to software problems. lack of development, lack of support. or lack of adoption or maybe something else. what's assurance for investors that their money won't be lost or atleast losses will be minimum. you can make coin and say I dont expect profit from it. but those who are investing in your coins. they want returns on it. that's why they are called investors. so what's closing plan.
Attitude:
"Well if you dont like alt coin then dont get involved in it" : this is not good attitude, it reminds me Gavins words " You really have no business creating your own block chain .......". Every Person is important when you call it community project. Did you forgot the Story "A Man who broke the Bank" taught us in school
These are just Deva's few thoughts. based on the last few days reading posts of the project Nemesis.
About Deva:
Deva's Vision is to increase awareness in Indians about Cryptography, Bitcoin , Bitcoin Protocol. so in coming next 5-10 years any 5th grade student should be able to teach others about cryptography, or may be next SHA-4 or SHA-5 designer will be from India.( no.. its not Bold Statment, We are Indians.)
He is trying to make altcoin since last 2 months. he have studied almost 25 - 35 alt coin from CPU only, GPU and ASCII dependant. He is not interested making profit out of it. but he is interested when someone else come up and say to him " Hey ! have you heard about this?". He already got his client working and running and now he have moved on 2nd stage of development. he already got promotional ideas which are not even addressed by anyone else in last 15 days in these 3 threads.
Do Deva have White Paper?
Deva dont know should he call his document as white paper or not. its just few pages document containing most of the things he studied in last 3-4 months. and attributed few facts with the Indian perspective. he puts himself in others shoes and try to look at it and notes down the things. it's not full proof.
Last but not least, Deva is not good in English so bear it :)
Corruption Coin
I have a Name for Indian Crypto , that is" CorruPtion Coin "
This Name will gain More Popularity then any other coin .
Corruption Coin
I have a Name for Indian Crypto , that is" CorruPtion Coin "
This Name will gain More Popularity then any other coin .
Corruption Coin
I would suggest implementing a Kimoto Gravity Well for regulating difficulty. The multipools can wreak havoc on difficulty.
Quote
Some talk about localization , I dont understand on how you can localize a decentralized network. is it a premined currency ?
Some talk about tweaking parameters
....
....
Some are talking about the originality & innovations around this coin
Its still in early stages of the discussion. If required, let's open a separate thread to discuss the feasibility.
Quote
The goal of Namecoin is well defined : Decentralized network for key/value mapping, if you see namecoin wiki it has clear goal and technical spec
Zero coin is also well defined : To build anonymous decentralized network. You can clearly read about zerocoin as well
Yes, Namecoin & Zerocoin has innovations surrounding it. If you believe innovations can drive coin growth, let's brainstorm some innovations. Quoting some here for ref...Zero coin is also well defined : To build anonymous decentralized network. You can clearly read about zerocoin as well
1. Add India historical events to the blockchain ( Inspired from Namecoin / Datacoin )
2. Develop a complaint system and store the complaints on the blockchain, so that AAP can pickit up some.
3. Store RTI / Govt public Notifications / Govt Websites on the blockchain
4. Develop Anti-Anonymous coin so that each mined block will be associated with AAdhar number / Voter Id etc. ( Inspired from Zerocoin )
5. Transfer money to email-id instead of public address. On the blockchain, do a one-one / one-many mapping of emailid-public address
etc...etc..
Quote
DogeCoin on the other hand is just a marketing gimick to get rich. They just put a dog as label, tweaked some parameters and created a coin . Here is what happens when you create a copy/paste coin without thinking http://www.reddit.com/r/dogecoin/comments/1tp40b/dogecoin_is_broken_merry_christmas/
1. Dust transactions is not a new problem. It was already found in bitcoin and rectified by increased transaction fees.2. In the similar lines, the recent problem faced by the Mt. Gox related to Transaction Malleability is not a newer one. People are already aware of these problems.
If DOGE/Other alt coins can reveal these kind of technical problems then it is really nice. That will help in hygienic growth of Crypto Currencies. Note that even though bitcoin is a 5 year old currency, its still in EXPERIMENTAL stage..............and it will stay experimental for another 2 to 4 years.
Having said all the technical innovations / issues, Bitcoin is not just surrounded by a technical enthusiasts. It is a mixed group of Economists, Crytographers, Merchants, Traders etc.. Satoshi (he or group) has not limited their thoughts just to technical side, he knows very well about the Economics. See the LevelCoin ( I am not talking about the scammed dev, I am just talking about the concept) it has some good ideas about economics..
Quote
That said, you are free to create dog,cat or mouse coins and market them ! Good luck with that ! If you want people to take you more seriously , I am sorry to inform you, you have to do much better than that.
Here are the statistics of Social Networking sites.
According to ComScore, up to end of November 2011:[141]
Worldwide Unique Visitors
Facebook.com 792,999,000
Twitter.com 167,903,000
LinkedIn.com 94,823,000
Google+ 66,756,000
MySpace 61,037,000
Others 255,539,000
Myspace was the first to enter the market, but the current leader is facebook. We don't know about the future, linkedin may lead it. In the similar lines, Bitcoin is the current leader, but Zerocoin / Ethereum / ProjectNemesis / Someother coin may lead the future.
All innovations start from a small idea. It will be nourished over a period of a time with the community surrounding it.
I see, you have a strong background in Python & Blockchain Visualization, btcoinbot, Coin Mixing services concepts, Why don't you contribute your ideas ?
As Benson has mentioned, this is still in an experimental stage. In my opinion, people here has no previous experience in releasing a coin. So this is a good opportunity for everyone to learn & innovate.
Jump to: