Topic: ▌ Sprout: A Community Driven Crypto-Currency - New Innovative Ideas ▌ (Read 4370 times)
February 05, 2014, 02:07:37 PM
Hey guys, Just wondering if there is any new information regarding the development of this new type of crypto. Really interesting concept.
January 29, 2014, 01:32:50 AM
If you could ensure every wallet belongs to only one person by requiring something like a credit card verification or identity number during creation, could you then limit the amount of coin that any one wallet could mine(they may own more by buying or selling something for coin), thereby giving the whole community an equal chance?
Or you could give the coin away to everyone part of the community xxxcoin per wallet, and make it an requirement to keep your cpu/card available for mining a certain number of hours per month to stay part of the coin community? So the solving of the blocks are done not for reward, but as a responsibility/requirement to be part of the coin community. Once again you would need to make sure that only one wallet per person is possible, so that becomes the difficult problem if government is not involved.
Maybe a solution would be to require a fingerprint/voiceprint/retinascan per wallet? Software would then be required to tell fake fingerprints/voiceprints/scans from real ones???
Someone cleverer than me would have to do that bit...
Or you could give the coin away to everyone part of the community xxxcoin per wallet, and make it an requirement to keep your cpu/card available for mining a certain number of hours per month to stay part of the coin community? So the solving of the blocks are done not for reward, but as a responsibility/requirement to be part of the coin community. Once again you would need to make sure that only one wallet per person is possible, so that becomes the difficult problem if government is not involved.
Maybe a solution would be to require a fingerprint/voiceprint/retinascan per wallet? Software would then be required to tell fake fingerprints/voiceprints/scans from real ones???
Someone cleverer than me would have to do that bit...
I understand your train of thought, but it really depends what we are going for. In my original plan, I did not formulate an idea of changing the structure of society as a whole. Limiting the amount of coins per wallet somewhat goes against the idea of capitalism, as it limits potential. However, the concept of this could be beneficial as well, as coins would be more evenly distributed amongst everyone on Earth. It's a real catch 22.
The only solution I can think of to this would be to put a high limit of lets say 30-50 million. No one should need more than this amount ever in life. Anything mined or earned after the 30-50 million limit would go straight into a charity or fundraiser.
Your idea of limiting wallet addresses based on a security feature such as fingerprints/voice/retina scan might be of an issue to the current block chain infrastructure. Also some businesses, stores, couples, charities or financial institutes might want joint accounts.
What are yours and everyone's thoughts on this?
Hi, bman3
Idea 1 was to limit the mining to a pre-determined amount, not the wallet.
for Idea 2, only individuals receive the initial coin (free, without mining, but with a responsibility to mine/verify the blocks else your account is frozen). Companies may register and trade all they want but do not get free coin. So you may set up any number of companies with their own wallets (anonymous if that is the preference) but these companies do not get free coin.
Expanding on the second idea, maybe give all users (excepting companies) a monthly stipend (such as is planned by Sweden I think in euros), sort of a living wage. This will create some inflation but the inflation is the same for everyone in the scheme.
January 28, 2014, 06:16:50 PM
January 28, 2014, 05:13:56 PM
i like the name
January 28, 2014, 05:04:45 PM
If you could ensure every wallet belongs to only one person by requiring something like a credit card verification or identity number during creation, could you then limit the amount of coin that any one wallet could mine(they may own more by buying or selling something for coin), thereby giving the whole community an equal chance?
Or you could give the coin away to everyone part of the community xxxcoin per wallet, and make it an requirement to keep your cpu/card available for mining a certain number of hours per month to stay part of the coin community? So the solving of the blocks are done not for reward, but as a responsibility/requirement to be part of the coin community. Once again you would need to make sure that only one wallet per person is possible, so that becomes the difficult problem if government is not involved.
Maybe a solution would be to require a fingerprint/voiceprint/retinascan per wallet? Software would then be required to tell fake fingerprints/voiceprints/scans from real ones???
Someone cleverer than me would have to do that bit...
Or you could give the coin away to everyone part of the community xxxcoin per wallet, and make it an requirement to keep your cpu/card available for mining a certain number of hours per month to stay part of the coin community? So the solving of the blocks are done not for reward, but as a responsibility/requirement to be part of the coin community. Once again you would need to make sure that only one wallet per person is possible, so that becomes the difficult problem if government is not involved.
Maybe a solution would be to require a fingerprint/voiceprint/retinascan per wallet? Software would then be required to tell fake fingerprints/voiceprints/scans from real ones???
Someone cleverer than me would have to do that bit...
I understand your train of thought, but it really depends what we are going for. In my original plan, I did not formulate an idea of changing the structure of society as a whole. Limiting the amount of coins per wallet somewhat goes against the idea of capitalism, as it limits potential. However, the concept of this could be beneficial as well, as coins would be more evenly distributed amongst everyone on Earth. It's a real catch 22.
The only solution I can think of to this would be to put a high limit of lets say 30-50 million. No one should need more than this amount ever in life. Anything mined or earned after the 30-50 million limit would go straight into a charity or fundraiser.
Your idea of limiting wallet addresses based on a security feature such as fingerprints/voice/retina scan might be of an issue to the current block chain infrastructure. Also some businesses, stores, couples, charities or financial institutes might want joint accounts.
What are yours and everyone's thoughts on this?
January 28, 2014, 04:11:37 PM
If you could ensure every wallet belongs to only one person by requiring something like a credit card verification or identity number during creation, could you then limit the amount of coin that any one wallet could mine(they may own more by buying or selling something for coin), thereby giving the whole community an equal chance?
Or you could give the coin away to everyone part of the community xxxcoin per wallet, and make it an requirement to keep your cpu/card available for mining a certain number of hours per month to stay part of the coin community? So the solving of the blocks are done not for reward, but as a responsibility/requirement to be part of the coin community. Once again you would need to make sure that only one wallet per person is possible, so that becomes the difficult problem if government is not involved.
Maybe a solution would be to require a fingerprint/voiceprint/retinascan per wallet? Software would then be required to tell fake fingerprints/voiceprints/scans from real ones???
Someone cleverer than me would have to do that bit...
Or you could give the coin away to everyone part of the community xxxcoin per wallet, and make it an requirement to keep your cpu/card available for mining a certain number of hours per month to stay part of the coin community? So the solving of the blocks are done not for reward, but as a responsibility/requirement to be part of the coin community. Once again you would need to make sure that only one wallet per person is possible, so that becomes the difficult problem if government is not involved.
Maybe a solution would be to require a fingerprint/voiceprint/retinascan per wallet? Software would then be required to tell fake fingerprints/voiceprints/scans from real ones???
Someone cleverer than me would have to do that bit...
January 28, 2014, 11:51:37 AM
I am not a developer, but very savvy in the business and marketing end of things. I'd be happy to donate funds and time to getting this off the ground.
Thank you chrisnippz, that's great! Very kind of you to offer up your services, and I will notify you when we are at that stage in production. Currently, I am looking for programmers to get this off the ground. Hopefully some will come forward soon.
January 28, 2014, 03:39:26 AM
I am not a developer, but very savvy in the business and marketing end of things. I'd be happy to donate funds and time to getting this off the ground.
January 28, 2014, 03:10:21 AM
Will a seed node have a set amount? (Will a seed always have, for example, 100 closest people even if the closest person to you is 100 miles away?)
I'm just curious on how that portion of it will work, because if it's just anyone within a certain distance, I can see it going great for people who live near LA, Chicago, NY, Seattle, etc. but not so great for people who live in small towns.
I'm just curious on how that portion of it will work, because if it's just anyone within a certain distance, I can see it going great for people who live near LA, Chicago, NY, Seattle, etc. but not so great for people who live in small towns.
In terms of hashrate, a seed node will have a set limit to prevent 51% attacks. IF ever a seed node reaches 48% of network hash it will split to create a new one. The network will be built to handle this. In terms of bandwidth, it will also adjust. This will be done by a calculation between the ping and the saturation of the seed nodes. The network will never allow large groupings of bandwidth or hashrate, as it will monitor saturation levels of the seed nodes. Upon connecting, it will take this into consideration along with the ping. There will always be a fair distribution of bandwidth and hashrate, no matter where you live in the world.
January 28, 2014, 02:18:17 AM
Will a seed node have a set amount? (Will a seed always have, for example, 100 closest people even if the closest person to you is 100 miles away?)
I'm just curious on how that portion of it will work, because if it's just anyone within a certain distance, I can see it going great for people who live near LA, Chicago, NY, Seattle, etc. but not so great for people who live in small towns.
I'm just curious on how that portion of it will work, because if it's just anyone within a certain distance, I can see it going great for people who live near LA, Chicago, NY, Seattle, etc. but not so great for people who live in small towns.
January 27, 2014, 05:54:09 PM
Bump, waiting on some responses from developers in this community 
January 27, 2014, 03:30:48 PM
Nice idea
Would like to monitor this
+1
Would like to monitor this
+1
Thanks!
January 27, 2014, 01:03:46 PM
Nice idea
Would like to monitor this
+1
Would like to monitor this
+1
January 27, 2014, 01:00:15 PM
Sounds good.
January 27, 2014, 12:57:26 PM
When is the launch? Pools wallet ready at launch?
Launch is not set yet, because I am waiting for more developers to come forward to help create this. For pools, as explained in the description, there will be no 3rd party pools because they will already be built into the system.
January 27, 2014, 12:55:38 PM
As long as the coin doesn't has IPO, i'm in! 
There will be no IPO. This is a community project, so anyone that wants to volunteer can. There might be a kickstarter or something created for donations, the money received in donations will only be used to pay for the living expenses of the developers who will be volunteering their time to create Sprout.
January 27, 2014, 12:42:34 PM
When is the launch? Pools wallet ready at launch?
January 27, 2014, 12:37:37 PM
hmm sounds diffrent. it could work
+1
+1
January 27, 2014, 12:35:29 PM
As long as the coin doesn't has IPO, i'm in!
January 27, 2014, 12:32:35 PM
During the ping will individual IP address be revealed and be able to be extracted from the database?
No, because it will only ping the seed node. The seed node will also be protected with a digital signature that changes per block.
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