Virgin Coins - page 4. | Bitcointalksearch.org

Raize

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Quote from: jamesg on December 27, 2012, 01:32:28 PM

My idea is to simply give non miners a chance to also own coin without a transaction history.

I think it's a great idea.

The premium on this service isn't terribly high, if you're lucky, maybe as high as 5%. This is mostly because services/methods like the Blockchain.info mixing service and Litecoin swaps exist and charge under 2%, and the novelty benefit isn't worth much more than that. But these aren't blocks, maybe blocks themselves would be worth a lot. I offer no evidence as to why I know this, but that's my input regardless.

And, that's not to say such a thing couldn't or won't change. Maybe they'll be worth a fortune someday.

I just thought it was funny as this is like a rehashing of what's already been done with Eligius and P2Pool. If there was a high demand for virgin coin, you would see people request it more often.

jamesg

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Quote from: SAC on December 27, 2012, 02:13:39 PM

A block with no transactions it only takes and gives nothing back to the host (the btc network if that did not filter into your brain) hence a parasite.

Who ever said to make a block with no transactions? We are talking about COINS with no transactions.

Let me give you an example, maybe that will help you understand better.

http://blockchain.info/tx/3ea44e636930806ef302022f6e770ec6e4b6edcbd1dd965cd0ca0731d388a1f8

Take a look at the link above and you will see "No Inputs (Newly Generated Coins)". This is what I mean about COINS without a transaction history.

Make sense?

SAC

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Quote from: jamesg on December 27, 2012, 02:01:45 PM

Quote from: SAC on December 27, 2012, 01:54:47 PM

Sure encourage parasite blocks that are of no benefit to the BTC network get enough of them no transactions get done, hardly surprising you would come up with this idea though based on your "business" dealings of the past fits you to a tee.

You usually make sense but what exactly are "parasite blocks"? How is mining and finding blocks of no benefit to the BTC network?

SAC, did you take your medications today?

A block with no transactions it only takes and gives nothing back to the host (the btc network if that did not filter into your brain) hence a parasite.

jcpham

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Your Argument is Irrelephant

I still like the idea of "solo pool" where the highest hasher wins everything and everyone else gets nothing.

jamesg

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Quote from: SAC on December 27, 2012, 01:54:47 PM

Sure encourage parasite blocks that are of no benefit to the BTC network get enough of them no transactions get done, hardly surprising you would come up with this idea though based on your "business" dealings of the past fits you to a tee.

You usually make sense but what exactly are "parasite blocks"? How is mining and finding blocks of no benefit to the BTC network?

SAC, did you take your medications today?

SAC

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Quote from: jamesg on December 27, 2012, 01:32:28 PM

My idea is to simply give non miners a chance to also own coin without a transaction history.

Sure encourage parasite blocks that are of no benefit to the BTC network get enough of them no transactions get done, hardly surprising you would come up with this idea though based on your "business" dealings of the past fits you to a tee.

jamesg

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Quote from: Raize on December 27, 2012, 01:09:23 PM

It's funny to see everyone in this thread basically reinventing Eligius and P2Pool.

IMO, there are many more people who do not mine than do. So virgin coins are accessible to only a small portion of the bitcoin user base.

My idea is to simply give non miners a chance to also own coin without a transaction history.

My original questions still stand, the implementation of such a service is not as important.

Raize

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It's funny to see everyone in this thread basically reinventing Eligius and P2Pool.

Yankee (BitInstant)

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Charlie 'Van Bitcoin' Shrem

Quote from: jamesg on December 26, 2012, 03:46:59 PM

Quote from: Phinnaeus Gage on December 26, 2012, 03:42:50 PM

What about a mining pool strictly designed solely to mine virgin coins, whereupon all those contributing to the pool receive a 10%(?) premium?

~Bruno K~

If this idea proves out, that might be an idea. I wish there was more time in the day.....

Im down to throw my new ASIC's toward that pool if such existed....

jamesg

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Quote from: Phinnaeus Gage on December 26, 2012, 03:42:50 PM

What about a mining pool strictly designed solely to mine virgin coins, whereupon all those contributing to the pool receive a 10%(?) premium?

~Bruno K~

If this idea proves out, that might be an idea. I wish there was more time in the day.....

Phinnaeus Gage

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Bitcoin: An Idea Worth Spending

What about a mining pool strictly designed solely to mine virgin coins, whereupon all those contributing to the pool receive a 10%(?) premium?

~Bruno K~

jamesg

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Quote from: R- on December 24, 2012, 04:09:19 PM

Giga, neat idea. To me, your proposal sounds like GPUMax though. Am I missing something?

I guess you could consider that GPUMax was doing something similar but they used other's hashing power to back the service. You would only get "virgin" coins if you directed your hashing power to a pool that allowed coins generated directly into your wallet.

So just pointing hashing power to say ozco.in, would get you nearly virgin coins, but there would still be transactions leading from the generation.

R-

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Pasta

Giga, neat idea. To me, your proposal sounds like GPUMax though. Am I missing something?

World

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Quote from: Hal on December 22, 2012, 08:20:32 PM

I was lucky enough to receive the first bitcoin transaction, and then I was careless enough to spend it accidentally. I probably still have the key sitting on a switched-off computer, so I could auction off the key. Usual caveats about making sure I delete it when I sell it...

This will be very interesting.

jamesg

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Quote from: siggy on December 23, 2012, 11:23:35 AM

Being kinda anal... I'd want my "25-coin" to be exactly 25.000... bitcoins. Is it possible for a miner to split the 25 bounty into one address and put the fees into a different address?

Sigg

I believe with the pool setup correctly, this could be done. I'm pretty sure it can be setup to fill an address to an exact amount or over a specific amount.

I'll make sure to add this to the feature list.

siggy

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Quote from: jamesg on December 22, 2012, 04:30:35 PM

Quote from: matthewh3 on December 22, 2012, 04:19:58 PM

What kind of bitcoins goes on those 'Casascius coins'. The ones you use to purchase them or something else because it'd be good if you could get whole virgin BTC25.00 blocks on them Tongue

That is definitely an interesting idea. Although, it would probably be over 25 coins with the transaction fees in there.

Being kinda anal... I'd want my "25-coin" to be exactly 25.000... bitcoins. Is it possible for a miner to split the 25 bounty into one address and put the fees into a different address?

Sigg

BkkCoins

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Quote from: SAC on December 22, 2012, 11:12:23 PM

And I hate fucking scammers with a passion and that is all this is just one more opportunity for them to ply their trade.

Scam? What scam?
Anyone looking at buying a virgin block knows what they're getting and that it may never be worth more than 25 btc. It would only be a scam if they didn't get what they paid for or were sold a private key that was later emptied on them.

Quote from: SAC on December 22, 2012, 11:12:23 PM

In case any of you have not noticed it is pretty much always the same group of people who show up in these threads designed to separate people from their btc short a few members now that pirate, nefario, patrick among others are gone but still out in force when they come up with new one.

That's way out in left field. As far as I see the people posting in this thread have been mostly ongoing trustworthy community members. Casascius, Yankee, gigavps, Hal - I've never heard of any of them pulling any scam. I guess you mean offering something that you don't think is worthwhile?

SAC

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Quote from: BkkCoins on December 22, 2012, 09:27:45 PM

Quote from: SAC on December 22, 2012, 07:59:11 PM

Quote from: matthewh3 on December 22, 2012, 06:51:55 PM

Quote from: SAC on December 22, 2012, 06:46:29 PM

Indeed as old PT said there is one born every minute and all these collector fools are just a shinning example of it.

Oh, who's got too much angst and an internet connection Roll Eyes

People have always collected things and when those things are rare things the collection can become valuable. Certain gold coins coins are worth >x10 the magnitude of 'spot' price.

Sure they are that gold in there has them super special atoms never to be found again ...

You sound like a real bore; hung up with a super dull idea of value. I say "Thanks" to all the imaginative and visionary people in Bitcoin, technology companies, artists, art dealers and just about anyone who isn't quite so dull - for making this world a more interesting place to live. What I can't understand is why you bother wasting your super-valuable time being so critical of people.

Most certainly I believe in value for your money spent not this pie in the sky BS most around here seem to think of as normal, it does not turn my crank at all. And I hate fucking scammers with a passion and that is all this is just one more opportunity for them to ply their trade. In case any of you have not noticed it is pretty much always the same group of people who show up in these threads designed to separate people from their btc short a few members now that pirate, nefario, patrick among others are gone but still out in force when they come up with new one.

BkkCoins

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Quote from: SAC on December 22, 2012, 07:59:11 PM

Quote from: matthewh3 on December 22, 2012, 06:51:55 PM

Quote from: SAC on December 22, 2012, 06:46:29 PM

Indeed as old PT said there is one born every minute and all these collector fools are just a shinning example of it.

Oh, who's got too much angst and an internet connection Roll Eyes

People have always collected things and when those things are rare things the collection can become valuable. Certain gold coins coins are worth >x10 the magnitude of 'spot' price.

Sure they are that gold in there has them super special atoms never to be found again ...

You sound like a real bore; hung up with a super dull idea of value. I say "Thanks" to all the imaginative and visionary people in Bitcoin, technology companies, artists, art dealers and just about anyone who isn't quite so dull - for making this world a more interesting place to live. What I can't understand is why you bother wasting your super-valuable time being so critical of people.

BkkCoins

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Quote from: casascius on December 22, 2012, 07:22:49 PM

Quote from: matthewh3 on December 22, 2012, 04:19:58 PM

What kind of bitcoins goes on those 'Casascius coins'. The ones you use to purchase them or something else because it'd be good if you could get whole virgin BTC25.00 blocks on them Tongue

Usually it's just the one used to purchase them, but I would be happy to make 25 BTC coins out of virgin coins if there were buyers willing to pay extra to make the effort worthwhile. Part of the problem is that everyone agrees they'd be neat but wouldn't pay much more than a couple percent premium to get one. I'm open to be proven wrong, but am somewhat resigned to the idea that bothering would barely be worth the effort.

If someone wants to arrange it themselves, I'd be very open to it... in other words, you buy the coin and then instead of saying "OK it arrived please fund it", you'd say "OK it arrived and I funded it myself so you don't have to, so now please refund me my original 25 BTC at address X". I already do deals very similar to this from time to time when buyers want to fund them with bitcoins from a specific origin.

Or if you can reach an agreement with a miner/pool that they trust you, then why not sell the coin, and when the block is confirmed mined onto the coin's address you send the 25btc to the miner instead of putting it on the coin. In essence you act as escow between the miner and bidder, and perhaps automate it, and take a small fee to make it worthwhile.

I could see Virgin Casascius coins as quite interesting because they bring a physicality to the idea of a pure block. I could see down the road people being interested in such a coin being more collectible than others. The difficult part is how such an item could be traded if the private key is not trusted to be destroyed. I come back to the same as your other coins - perhaps the trust of Casascius destroying the key is better than the trust of the first buyer doing so?

Topic: Virgin Coins - page 4. (Read 15395 times)