[WDC] Worldcoin | 3.0 Flirtatious Ant Released! | Multicoin architecture - page 187.

digitalindustry

hero member

Activity: 798

Merit: 1000

‘Try to be nice’

Quote from: andruby on May 14, 2013, 10:51:51 AM

Too bad he's taking a good name and not using it for something worthwhile. I was trying to figure out a "WorldCoin" where every human on the planet gets one coin as initial wealth distribution. A noble goal, but unfortunately not realistic Embarrassed

unless somebody has an idea of how that could work?

that's easy everyone in the world just has to be here between 6 and 10 pm Eastern Standard Time. where upon the wealth of the world will be evenly distributed !

** we should shoot those that do not attend, as those capitalist pigs will be off pre-mining another more profitable coin!

Praxis

legendary

Activity: 1118

Merit: 1004

Quote from: andruby on May 14, 2013, 10:51:51 AM

Too bad he's taking a good name and not using it for something worthwhile. I was trying to figure out a "WorldCoin" where every human on the planet gets one coin as initial wealth distribution. A noble goal, but unfortunately not realistic Embarrassed

unless somebody has an idea of how that could work?

Will every North Korean get one coin? Well, they will be ordered by the North Korean government to hand all their coins to Kim Jong Un, if the coin ever becomes valuable.
Will every Nigerian or citizen of Ghana get 1 coin, most of them don't even have access to computers?
And what will be it tied to? ID card? DNA? Fingerprint? How will you verify that?
And even if it were possible, a speculator who knows about cryptos would just buy milions of these who would be more than willing to sell it for $1.
In a poor country, $1 is a lot, so they would be more than happy to sell an abstract, "virtual" asset for something concrete like a loaf of bread.

Noble socialist idea, all warm and fuzzy, seem great at first, but when you employ logic and rationality always reveal their stupidity. Just like real life socialism (I lived in a socialist country for a short time).

Praxis

legendary

Activity: 1118

Merit: 1004

Quote

WorldCoin
Jr. Member
Posts: 12

Seems legit.

zacho56

member

Activity: 84

Merit: 10

Quote from: andruby on May 14, 2013, 10:51:51 AM

Too bad he's taking a good name and not using it for something worthwhile. I was trying to figure out a "WorldCoin" where every human on the planet gets one coin as initial wealth distribution. A noble goal, but unfortunately not realistic Embarrassed

unless somebody has an idea of how that could work?

I've thought of that concept as well. A coin where everybody starts out with a small amount, then mine to keep it going but still have that amount banked to distribute. Hmmmm

zacho56

member

Activity: 84

Merit: 10

Love the concept. Sounds promising. Keep us updated Grin

phorensic

hero member

Activity: 630

Merit: 500

Quote from: TheSwede75 on May 14, 2013, 10:43:21 AM

Quote from: phorensic on May 14, 2013, 10:42:15 AM

In order for this altcoin to succeed you need to be a really shitty developer, you can't release binaries, and you need to fuck up the genesis block creation.

Jr member registered 2 days ago with 12 posts. I think we have it covered!

Sweet, I'm all in then.

andruby

newbie

Activity: 31

Merit: 0

Too bad he's taking a good name and not using it for something worthwhile. I was trying to figure out a "WorldCoin" where every human on the planet gets one coin as initial wealth distribution. A noble goal, but unfortunately not realistic Embarrassed

unless somebody has an idea of how that could work?

psybits

legendary

Activity: 1386

Merit: 1000

I'm following this - just because, well, why not Wink

TheSwede75

full member

Activity: 224

Merit: 100

Quote from: phorensic on May 14, 2013, 10:42:15 AM

In order for this altcoin to succeed you need to be a really shitty developer, you can't release binaries, and you need to fuck up the genesis block creation.

Jr member registered 2 days ago with 12 posts. I think we have it covered!

TheSwede75

full member

Activity: 224

Merit: 100

It's been in the making for 'some time' (user registered on May 12th, has 10 posts)...
These posts make me want to vomit rainbows.

phorensic

hero member

Activity: 630

Merit: 500

In order for this altcoin to succeed you need to be a really shitty developer, you can't release binaries, and you need to fuck up the genesis block creation.

spoid

hero member

Activity: 532

Merit: 500

bearded, drunk, fat, naked

1) a 4 hour time window is not an accurate starting time
2) this better have a higher starting difficulty or grumpycat.jpg
3) no info about premining suggests this is heavily premined
4) try to not completely ruin the launch like the last few

altcoinme

newbie

Activity: 12

Merit: 0

And picking a random coin that was released today - elacoin.

I happened to be watching the logs and I saw the block chain from 4443 through to 4515 (from 09:00:44 through to 09:02:37) switch to a longer chain. That's almost twice your confirmation period (4 blocks), and that was on a lightly loaded network.

And then, between blocks 5027 and 5100, two miners were fighting over the chain. It kept switching backwards and forwards.

altcoinme

newbie

Activity: 12

Merit: 0

Quote from: RetardedMonkey on May 14, 2013, 06:10:51 AM

15 second blocks?

Hello Orphans

+1

OMG, Seriously, people are just randomly changing numbers without knowing WHY those numbers should be what they are.

15 seconds isn't going to be enough for blocks to get from one side of the network to the other. A couple of miners are going to modify their clients to ignore other chains, and just mine everything themselves. With blocks only 15 seconds apart, it's going to be almost impossible to avoid multiple, simultaneous, attacks on the coin.

Akka

legendary

Activity: 1232

Merit: 1001

Quote from: WorldCoin on May 14, 2013, 05:48:51 AM

Confirmations: 4

LOL, what do you mean by this?

What happens after 4 Confirmations?

Are you coins gone if you don't spend them within 4 confirms?

237

sr. member

Activity: 264

Merit: 250

This is getting rediculous...

Sy

legendary

Activity: 1484

Merit: 1003

Bounty Detective

Loads of rejects with that fast blocktime...

vnid001

newbie

Activity: 26

Merit: 0

Quote from: Milkshake on May 14, 2013, 06:12:09 AM

4 confirms, 15 sec block time:

CONFIRMATIONS ARE ABOUT THE TIME, NOT ABOUT THE AMOUNT.

You will need 40 confirms the achieve the same security as Bitcoin.

Just like how litecoin is "faster", but each confirm is less secure.

You can fake a transaction?

larkstongues

member

Activity: 68

Merit: 10

at least they know how to make a decent web page Cheesy

vnid001

newbie

Activity: 26

Merit: 0

Difference altcoins?

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