Topic: Which country to start an altcoin? (Read 277 times)

You can allow accounts which have kind of history only. AFAIK Facebook accounts have a number. Maybe its ascending.
but just looking at the history roll of the profile should be enough. If there are entries older than XXX then its fine.

You're right, there are many fake accounts. No method is perfect.
The alternative I had in mind was 'gathering DNA probes', but then you have a point of failure from real world to submitting it.
Its huge amount of effort, doesn't scale easily .. is expensive etc.

You cannot be fair or to be more accurate: There are many ways to define fairness.

With or without social media, so many options and so many ways to scam,,, but I got to agree, this is one of the worst ways you or anyone could rely on for confirmation.

Then again, if people wanted to scam, they will find a way. And there are plenty of idiots who can be scammed easily anyway sometimes the scammers do not have to try so hard.

Agree, the most difficult thing in the investment world is to build the value and trust of investors. Everyone can make tokens but not all tokens can be traded on the market or exchangers. We have received many airdrops from new projects, but not all can enter the market and be traded

I cant understand whats your project exactly. But if you are searching for a crypto friendly country to register
your business then I would suggest you Estonia. Its very easy to get your business registered there .
All you have to do is apply for e residency from your country and find an agent in Estonia to help you do the things fast.

Facebook is bad social media as far as I know, since there is a bunch of advertising over there. And most people who made an advertise just end up in scam, I have felt it since there is someone who made an advertise and offer me a huge amount of money but I just lost money.

I like the concept of steemit who purely use blockchain on its system. And as far as I know there are only some people who will get money if they made a usefull post and give an enlightenment for those who read the information. I hope in the future there will be a social media such as steemit cause expect we will get money but we will get a board knowledge as well.

Op wants to give out free coins to enable widespread use of the coin. BCH fork started this method and it has gained popularity since then.

His idea of not using technology, I presume refers to not having to mine the coin with a rig.

To release coins requires a fee that I think is expensive. Very strange in my opinion if you give free coins through social media.
Looks like you are joking with creating this topic.

social media? such as someone who has a facebook account? we know there are many fake accounts on social media platforms and this can be an opportunity and it's very easy to cheat in getting your coins later. have you ever thought about that?

I think what you need to consider is the laws of your country of registration rather than the cost. Because most countries are not crypto-friendly, if you launch a project in such a country you will be in big trouble.

Please, if you are wanna creating your own crypto or start a new project and that will be much better if you can run or create your own altcoin in the friendly crypto country just like Singapore and swiss. This day so many regulators are putting their eyes to the crypto and as a new creator and you must think to bring clear status if your altcoin and make it can't be shut down by the government or regulators due to the regulation reason.

In order to overtake Bitcoin, you need a lot of money. Billions of dollars. If you do not have them, then you need to find investors. How will you attract them to your project? What do you have other than the desire to “beat Bitcoin”?
Until you have something interesting, then you don’t even think about defeating Bitcoin. There have already been dozens of similar projects, and all of them died before it began.

Why ?
Because I don't own them.
If I created a new one I could keep 10% myself :-P.
Why is this project of interest to those who already own coins and want to develop them?
Well, if you it possible to win over Bitcoin Bitcoin would loose much value.

BTC vs other -> they all don't have value on its own. Its all in the heads of users.
So if you can change this you change who "owns" (well could turn into FIAT) huge amounts of value.

So creating altcoin is high risk: Yes. It is likely to fail: Yes. Most failed: Yes.
But if it works out .. its worth doing.

It’s even too far for countries to start owning a coin and I don’t really see any need for that ! What will happen to the ones we have already ? It’s not about creating new Altcoins , let’s develop the ones we have ! Giving free coins to everyone wont work out !

=> no chance

=> btc and lightening chain is not perfect, but works good enough maybe.

You can be more efficient by reducing the amount of nodes requiring less currency.
You can have higher throughput of packages ..

But does it change much in the end ? To some extend only.

Reality is the currency is as much worth as people give it. And this does not depend on its past.
You can try stabilizing a currency by interest rates etc .. but how shall this work for internationally traded goods?
Let me ask the other way round: What is giving BTC its value? How can stability be defined at all?
Think about simple cases such as 50% of population dies, then 50% of passwords are lost, population grows again,
but only half of coins are in operation. So the value doubled. That's just one simple thought experiment.

Why not? Only future value is of interest. The question is how to influence it.
"Here is a coin, it might be worthless, it might turn into 10K USD / coin. So better to get it now"
Some people will follow, some not. The question is how many.

So the big question is what made BTC different ?
BTC can be forked (so is not stable).
If you look at total amount of currencies out ther, BTC is like inflation to the world,
because you can pay by either USD or BTC.
So BTC might potentially have a destabilizing effect even if its small


Depends on how you look at it. If countries pay people taking care of children, exactly this is what is happening.
The country is giving away money.

Whether you have CPU mining or for free, at the very beginning mining BTC was cheap (because it was just fun).

You need to find a country that is crypto friendly, at first. These countries do not have strict regulations so you will be pretty free with your decisions.
Secondly, it is good if the country is also tax haven.
Which countries offer both? I know about Malta and Switzerland. 

it is possible but you have to create something really better not just some fake better thing fooling people.
it has to be:
- decentralized
- deflationary so have limited supply
- have a well thought supply plan (max, start, distribution)
- be censorship resistant
- be more efficient
- and more.

so far we have nothing that could even come close.

that would be the worst coin ever.
basically whenever you give people "free money" you are ruining that currency.
a currency's purpose is not to give away money to people. instead it should be to be a payment system and a medium of exchange like bitcoin is.

you can't achieve that by giving away money.

yes, hundreds of times.
search for the term "airdrop" and find topics that belong to any year before 2015ish and you'll see real "giveaways" and how they all failed.

a country will never give away money ever. that would require a ridiculous amount of real money invested in it and it can even ruin the economy of that country over night!
in fact that is how super inflation happens.

I agree that winning over BTC is very very unlikely.
Yet it was the idea I came up with which was closest to the impossible goal.
And yes, using existing Facebook accounts will be unfair. But it might be good enough.
Traditional mining is also unfair (either you know how to create mining chips or you don't).

If you know how to start website in Malta or Switzerand and how to protect the attempt legally with minimal resources I'd like to hear from you. If a simple website (without coin implementation) will not get subscribers implementing the coin will not make a big difference. Thus even some PHP + MySQL would be enough.

How it can be implemented ? Secret code in image and upload to your facebook account. That would be enough to qualify for getting a coin for free.

You should take your time to properly draft your idea then run the feasible study to see how achievable it will be so that you don't end up wasting your resources before getting a tangible result. Secondly don't bother comparing your idea with Bitcoin or looking for ways to beat it, rather let's yours be unique in its own way and you will see the result. Also, I think countries with friendly crypto regulations is Malta, Singapore and Switzerland.

Forget about beating bitcoin, no altcoin has ever done that. There were developers that thought about it before but no one became successful as bitcoin is just an unbeatable king of the cryptocurrencies.

Taking more users than bitcoin -- I doubt it that this can happen. A newbie to cryptocurrency once heard about the word 'cryptocurrency', they'll mostly take bitcoin instead of any altcoin.

That idea is called an airdrop. Gazilion coins had distributed part or all coins that way.


If you want to make a useful coin, make such that have something that Bitcoin will not have and people will use it 10 years from now. You dont need any airdrops to get new users when you have such coin.   If you will make just another bitcoin copy no airdrop will not help you.