Project Nemesis - Alt-coin project - page 3.

G K G

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Quote from: Benson Samuel on February 14, 2014, 03:19:07 PM

We should be able to get a purpose statement once we finalize the characteristics of the coin. But yeah, a purpose would add some nice direction. As of now it stands at fun-experiment-community.

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/

Did you know that Dogecoins are being given out in paper wallets to people at Mumbai Bitcoin meetups? I think it is a fantastic way for people to get to know and handle Crypto-currencies. Am planning on giving away some Betacoins Cheesy

. Or who knows, maybe some Dogecoins.
They have much awesome in gaining so reach.

Assume that this is not the end of the discussion. If you are unhappy with the final outlines for this project, do come up with some solutions and that would be contribution.

Thats a very good idea. giving away paper wallets in meet-ups could reach out more. Maybe we should launch the coin in a meet-up too

Benson Samuel

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Activity: 1890

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Landscaping Bitcoin for India!

We should be able to get a purpose statement once we finalize the characteristics of the coin. But yeah, a purpose would add some nice direction. As of now it stands at fun-experiment-community.

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/

Did you know that Dogecoins are being given out in paper wallets to people at Mumbai Bitcoin meetups? I think it is a fantastic way for people to get to know and handle Crypto-currencies. Am planning on giving away some Betacoins Cheesy

. Or who knows, maybe some Dogecoins.
They have much awesome in gaining so reach.

Assume that this is not the end of the discussion. If you are unhappy with the final outlines for this project, do come up with some solutions and that would be contribution.

btc_enigma

hero member

Activity: 688

Merit: 565

Quote

In short Read the entire post and then comment.

In fact I saw the entire three threads to understand the purpose of this coin .

Some talk about localization , I dont understand on how you can localize a decentralized network. is it a premined currency ?

Quote

ok if a coin is created in a localized fashion, it needs to be distributed to the population some how.

Some talk about tweaking parameters

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Algorithm : Scrypt-Adaptive-Nfactor (Not scrypt-jane. This is the same one being used in VertCoin)

Total Coins : 999,999,999 ( ~1 billion )

Block Time : 99 Seconds
Block Reward : 999 ....
and more and more tweaking of parameters ...

Please, please, please I request you to post two/three lines clearly stating the purpose of the coin

Quote

First of all, I don't agree with the concept mentioned in the specified article. Don't you think Namecoin, Zerocoin has added any innovation ? In the similar lines you are free to suggest some innovative concept to this project Nemesis coin. Bitcoin is not the end of the world...let the innovations come in the form of new coins.

If you keep the innovation aside, don't you think Dogecoin & Maxcoin has brought significant amount of awareness about the crypto currency to the common people ? Awareness is very much required at this point of time for long survival of Crypto Currencies.

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

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/

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.

techguy

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Activity: 378

Merit: 250

Quote from: subvolatil on February 14, 2014, 08:18:48 AM

Quote from: btc_enigma on February 14, 2014, 07:36:18 AM

I strongly discourage this.

Please clearly state your intention for this alt coin rather than a get rich yourself scheme . Could you please write a white paper stating the technology behind this and what is original about this alt coin.
read this post http://themisescircle.org/blog/2013/08/22/the-problem-with-altcoins/

A localized distributed cryptocurrency is a misnomer ( its like Rakhi Sawant wearing clothes ).
Just changing a few parameters and launching a new currency isn't what it needed right now. We already have enough of these.

Few things that can help in India:

Seeing the low value of rupee, making microtransactions work
Since we having very low internet penetration, secure physical currency can help http://www.bit-card.com/

Well if you dont like alt coin then dont get involved in it. secondly read the project description, Its a decentralized project and i am not the one heading it and is a community project.
You want a white paper then get involved in the project and let it complete the First phase so that the white paper is released.

Dont be stupid by posting thing without reading the post and the project. p.s what wrong with Rakhi Sawant, you've got a really distorted view about the world. I bet you live in a community where all your women are draped head to toe with a blanket 24/7.

In short Read the entire post and then comment.

+1

Quote

Please clearly state your intention for this alt coin rather than a get rich yourself scheme . Could you please write a white paper stating the technology behind this and what is original about this alt coin. read this post http://themisescircle.org/blog/2013/08/22/the-problem-with-altcoins/

Quote

Phase 1
Discuss the properties of the altcoin.
Discuss problem and solutions.
Implement Solution to check viability.
Discuss and look into impact and viability
Whitepaper release

Get Rich ?? I don't understand, how this will it be a Get Rich scheme ? If you think it is a get rich scheme, then why don't you participate and become a millionaire ? Neither subvolatil nor anyone here can stop you in throwing a 1 Mh/s (or) 100 Mh/s hashpower. This will be a open source project and the coin release date will be announced publicly well ahead.

BTW, if you see the subvolatil phase 1 agenda, writing a whitepaper is already on the list.

Quote

Just changing a few parameters and launching a new currency isn't what it needed right now. We already have enough of these.

If we are thinking about just changing a few parameters, we could have paid 0.1 BTC at http://coingen.io/ and released the coin with in half day.

First of all, I don't agree with the concept mentioned in the specified article. Don't you think Namecoin, Zerocoin has added any innovation ? In the similar lines you are free to suggest some innovative concept to this project Nemesis coin. Bitcoin is not the end of the world...let the innovations come in the form of new coins.

If you keep the innovation aside, don't you think Dogecoin & Maxcoin has brought significant amount of awareness about the crypto currency to the common people ? Awareness is very much required at this point of time for long survival of Crypto Currencies.

subvolatil

hero member

Activity: 546

Merit: 501

Cypherpunk and full-time CryptoAnarchist

Quote from: btc_enigma on February 14, 2014, 07:36:18 AM

I strongly discourage this.

Please clearly state your intention for this alt coin rather than a get rich yourself scheme . Could you please write a white paper stating the technology behind this and what is original about this alt coin.
read this post http://themisescircle.org/blog/2013/08/22/the-problem-with-altcoins/

A localized distributed cryptocurrency is a misnomer ( its like Rakhi Sawant wearing clothes ).
Just changing a few parameters and launching a new currency isn't what it needed right now. We already have enough of these.

Few things that can help in India:

Seeing the low value of rupee, making microtransactions work
Since we having very low internet penetration, secure physical currency can help http://www.bit-card.com/

Well if you dont like alt coin then dont get involved in it. secondly read the project description, Its a decentralized project and i am not the one heading it and is a community project.
You want a white paper then get involved in the project and let it complete the First phase so that the white paper is released.

Dont be stupid by posting thing without reading the post and the project. p.s what wrong with Rakhi Sawant, you've got a really distorted view about the world. I bet you live in a community where all your women are draped head to toe with a blanket 24/7.

In short Read the entire post and then comment.

btc_enigma

hero member

Activity: 688

Merit: 565

I strongly discourage this.

Please clearly state your intention for this alt coin rather than a get rich yourself scheme . Could you please write a white paper stating the technology behind this and what is original about this alt coin.
read this post http://themisescircle.org/blog/2013/08/22/the-problem-with-altcoins/

A localized distributed cryptocurrency is a misnomer ( its like Rakhi Sawant wearing clothes ).
Just changing a few parameters and launching a new currency isn't what it needed right now. We already have enough of these.

Few things that can help in India:

Seeing the low value of rupee, making microtransactions work
Since we having very low internet penetration, secure physical currency can help http://www.bit-card.com/

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: subvolatil on February 10, 2014, 12:21:52 AM

By the way which coin do you thing is a good idea to fork out of, Bitcoin or Litecoin?

In my opinion a fork from Bitcoin is better and stays update on all security changes and upgrades to date.

Bitcoin for sure.

subvolatil

hero member

Activity: 546

Merit: 501

Cypherpunk and full-time CryptoAnarchist

By the way which coin do you thing is a good idea to fork out of, Bitcoin or Litecoin?

In my opinion a fork from Bitcoin is better and stays update on all security changes and upgrades to date.

subvolatil

hero member

Activity: 546

Merit: 501

Cypherpunk and full-time CryptoAnarchist

Quote from: techguy on February 08, 2014, 02:12:35 PM

Quote from: Benson Samuel on February 07, 2014, 07:09:38 AM

A look at a localization experiment.

http://auroracoin.org/

Looks interesting, will add it to the Next BIG list.

Its a good start the way they are approaching it . with the use of national ID's thing . i thing we can use some thing like that too. let see what we can come up with .

The main problem is the verification of the UID belongs to the correct person. may be use some type of a hash fingerprint or a signature scheme to do that .

techguy

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Activity: 378

Merit: 250

Created a poll - https://bitcointalksearch.org/topic/poll-by-when-do-you-think-project-nemesis-coin-will-be-released-455531
Please vote !!

techguy

sr. member

Activity: 378

Merit: 250

Quote from: Benson Samuel on February 08, 2014, 02:14:51 PM

subvolatil vanished again! -.-

To where ? Is he discussing with AAP about this project Wink

?

Benson Samuel

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Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

subvolatil vanished again! -.-

techguy

sr. member

Activity: 378

Merit: 250

Quote from: Benson Samuel on February 07, 2014, 07:09:38 AM

A look at a localization experiment.

http://auroracoin.org/

Looks interesting, will add it to the Next BIG list.

thenoblebot

sr. member

Activity: 364

Merit: 252

Quote from: Benson Samuel on February 07, 2014, 07:09:38 AM

A look at a localization experiment.

http://auroracoin.org/

Yea saw that a some time ago .. so its basically a centralised system with a basic salary for about a year. Its kinda a crappy idea I think to be honest. Idk if they will whitelist the whole nation for mining (which itself is decentralised). First impression makes it seem quite ridiculous. Unless the devil is in the details (but that I doubt cause it says its based on Litecoin).

Btw im in for the project. I think should be fun to do it. Just for the learning part Cheesy

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

A look at a localization experiment.

http://auroracoin.org/

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: thenoblebot on February 06, 2014, 03:54:59 AM

Quote from: Benson Samuel on February 05, 2014, 11:32:41 PM

Quote from: G K G on February 05, 2014, 01:34:50 PM

Quote from: techguy on February 05, 2014, 12:06:45 PM

Great.

4 - Can we work towards that processor as well ? It would be helpful for new merchants as well.

I think that would be great for the Indian market. A payment processor for the alts could create new opportunities here

It would have to be someone who can accept alts and converts them immediately to BTC on Cryptsy or coins-e.
Then convert the BTC through BIPS or someone who may be willing to provide BTC processor services.

It is quite possible.

That can be easily done if its on Cryptsy .... it has an autosell feature .. but of course you got to weigh the pros against the cons in such a case.

Btw I'm really starting to wonder if doing a coin is a good idea considering the fact that there are like 5 coins coming to the market everyday almost.

I would personally like to try making a coin and getting a bunch of people to use it. It's more of a fun experiment for us.

The coin would not matter if it is listed on an exchange with an API. The amount of buy orders would be more important in this case. Unless there is a demand, the coin cannot be used.

thenoblebot

sr. member

Activity: 364

Merit: 252

Quote from: Benson Samuel on February 05, 2014, 11:32:41 PM

Quote from: G K G on February 05, 2014, 01:34:50 PM

Quote from: techguy on February 05, 2014, 12:06:45 PM

Great.

4 - Can we work towards that processor as well ? It would be helpful for new merchants as well.

I think that would be great for the Indian market. A payment processor for the alts could create new opportunities here

It would have to be someone who can accept alts and converts them immediately to BTC on Cryptsy or coins-e.
Then convert the BTC through BIPS or someone who may be willing to provide BTC processor services.

It is quite possible.

That can be easily done if its on Cryptsy .... it has an autosell feature .. but of course you got to weigh the pros against the cons in such a case.

Btw I'm really starting to wonder if doing a coin is a good idea considering the fact that there are like 5 coins coming to the market everyday almost.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: G K G on February 05, 2014, 01:34:50 PM

Quote from: techguy on February 05, 2014, 12:06:45 PM

Great.

4 - Can we work towards that processor as well ? It would be helpful for new merchants as well.

I think that would be great for the Indian market. A payment processor for the alts could create new opportunities here

It would have to be someone who can accept alts and converts them immediately to BTC on Cryptsy or coins-e.
Then convert the BTC through BIPS or someone who may be willing to provide BTC processor services.

It is quite possible.

G K G

sr. member

Activity: 280

Merit: 250

Quote from: techguy on February 05, 2014, 12:06:45 PM

Great.

4 - Can we work towards that processor as well ? It would be helpful for new merchants as well.

I think that would be great for the Indian market. A payment processor for the alts could create new opportunities here

techguy

sr. member

Activity: 378

Merit: 250

Quote from: Benson Samuel on February 05, 2014, 12:04:18 PM

Quote from: techguy on February 05, 2014, 11:57:31 AM

Quote from: subvolatil on January 31, 2014, 07:36:25 AM

Ok starting a project thread to discuss the creation of a alt coin specifically to increase volume and use in india.

phases to the project

Phase 1
Discuss the properties of the altcoin.
Discuss problem and solutions.
Implement Solution to check viability.
Discuss and look into impact and viability
Whitepaper release

Phase 2
Development
Testing

Phase 3
add support systems. pools, Block Explorer, Exchanges, backup nodes, newbie guide
add services Faucet, giveaways, games.

Phase 4
logo design, wiki, webpage.
IRC channel

Phase 5
Release

I would like to see the following things by launch time
1. Youtube / Reddit tipper bots
2. A private mining pool restricted only to indian/asian ips
3. An existing exchange like cryptsy / An open source exchange( Eg: Buttercoin exchange - which we can host ourselves) to list this coin.
4. A merchant accepting this coin ( Highkart - what do you say ? )

3. - I do believe that we request coins-e and cryptsy. The open source Buttercoin code is buggy and can't be used reliably.
4. - I did ask him about alt coins. He has a problem getting a processor to use alt coins.

Great.

4 - Can we work towards that processor as well ? It would be helpful for new merchants as well.

Topic: Project Nemesis - Alt-coin project - page 3. (Read 12595 times)