Bitcoin Forum

I Am announcing the start of a new design based on the Blathazar's NVC core code with it's principals of PoW PoS

if you happen to be new here, the basics of NVC  are this code by Balthazar's team (terribly marketed) but essentially Coded beautifully / simplistically , in my opinion.

See here attempts at ASIC owners to destroy the idea i believe they found such a threat.

https://bitcointalk.org/index.php?topic=143221.0

+

And incorporating what now looks like a successful idea of  Bitfreak! and a fair few others of a "Mini-Blockchain" design.

Bitfreaks - topic- ** more coming

https://bitcointalk.org/index.php?topic=195275.0



So looking for anyone that is competent with Code to come on board, I've been "talking" to Balthazar team and he seems open to the idea, but i have not told him about the principal of the mini block-chain.

Balthazar - see above for the mini block- chain idea (now i have told him)    


a couple of things -

This is MY design as far as - Logo - Name - etc. , if you want to design a "Royalcoin" or a "YetAnotherCoin" or a "MakeMultipleAccountsAndSpamCoin" - feel free to pump and dump to your hearts content. just copy paste the code an off you go, i love free markets, and I'm free to have an idea and i believe my idea is better so we will win.

I don't tell you how to Code, so don't come to me with the gall to say that you understand the first thing about economics. or humans. or how the world works. < (toning down the arrogance)

if you do happen to know anything about that Great!, make some suggestions , but this is my design restricted to these parameters :[/i]

1. Logo
2. Name
3. Symbol name
4. symbol color.

I will release all this later as it would be a liability to do that now.

So i'm here for Coders that want to be a part of a successful Crypto- currency one that will get the type of press outside the forum that will make "MakeAnotherAccountAlreadyCoin" look a bit silly.


FAQ

Q- "When will it be released ! i mean Royal coin is going to break though to the Exchanges ANY day now aaaany day!"  {panting , a little sweat, possibly crypt fever}

A- When i can get a competent coder to simply incorporate the two ideas - or if a competent designer does that at another location on another "coin" when i get a competent Coder to copy paste that design and we will use that.


Q- Why do you insist on making the Logo, name Design etc.

A- great question !, becasue I don't care about your opinion in most cases.  -  I have seen/witnessed the net "marketing Design " power of this forum. - the Logo and everything is already designed and it is Very recognizable .


Q- Why don't you release the Logo - Design etc.

A- Because someone will use it for a "spam" coin (its actually that good.) - and unlike "cut paste" code real ideas can/should only be used once.


any coders that want to Pm me no problems - i'm not keeping anything secret - we will all benefit from this design .

I will edit things as i think about them.

Oh why the mini-Block chain? i think that's pretty self evident,

This Design NEEDS a Reserve amount to be mined and marked in a "special" way , now before you idiots start screaming "SCAM" we need this and i'm open for ideas here to be held publicly - its not just a "bounty" to spam exchanges with - it will be used as leverage in a very important way to get this design exposure, so that needs to be fleshed out ok.  

** NOTE NOT MOVING ON THIS ASPECT DO NOT CARE IF THIS PROJECT LOSES "RESPECTED SENIOR MEMBERS" THIS RESERVE IS NOT FOR PROFIT EVERY LAST UNIT WILL BE USED FOR PROMO ONLY AND WILL BE HELD PUBLICLY.

it will make more sense later when we get into the nitty gritty.

so i'm throwing it out to the free market , i'm quietly confident in my genius , so lets get to work, will our design be THE one, probably not? but it will be big, i can guarantee that.

Cheers.

hmm.

It seems that some guy already used the "Royal Coin" name for his own purposes. ::)

ha ha !  (i hope you are joking? ) (right?)

if you go back up top lol Balthazar - that's why i said i was "talking" to you  ha ha (you are still a genius but, so don't stress) We just seem to have a little tiny communication breakdown.


you misunderstand friend.

I'm not going to call this design "Royal coin" ha ha and if you are joking you Have a good sense of humor.

what do you think of the Bitfreak! idea , for the BC ?

 :D

a little quite isn't it?

well all the Pump Dump fake accounts and transactions ,and the Pay off the exchange with the pre-mined blocks is going to do is hurt the exchanges in the long run .

if they pump more "alts" onto the exchange people are going to start saying  "this exchange will host anything?" and the overall confidence of the exchange will go down.

if one exchange continues to host them, then it will start to be viewed as a "Pump Dump exchange of scammers" 

so I'm happy to let that roll , I'm in no hurry

 ; D

again the market will sort that out.

My question is, why are you trying to do something you can't do by yourself?
All you have is name, logo and bunch of stolen ideas for your coin.
I don't see any personal input from yourself.
And should I even mention "Reserve amount to be mined and marked in a "special" way"?  ;D

Well, i am willing to participate in this project and spare a few hours a week. I don't have much time but i want to see a new coin on the market, and not simply forks of litecoin. I liked the idea of the novacoin, to bad that the community didn't appreciate to it just value, but they jumped on featherclone, chinaclone and other clones. And adding a mini chain will be great. Now, in my opinion, no coin can really be used in the long time and because of the large blockchain.

Interesting. I like the mini blockchain idea, if it's feasible. The only question I have is what is the ultimate coin cap, if any, and how fast does the network churn out coins?

thanks for the Question ?

Because i have a way to make the idea become more than a pump and dump directed off of this forum, my input is more (edit that) as valuable as the code, you can't understand that , but that's ok, why don't you run a long a design a super complex code and release it on usenet and see how much market penetration it gets?

the reserve is to be fleshed out , i want it held public in some way , you poor guy , you need to read.

anyhow thanks for the feedback !

great question - we are going to work that out friend.  primary problem is the Block chain but.  we would want a , base of coin that is not too limited as we want accessibility but i'm totally open for suggestion , and one obviously would want as fast as trans time as possible - with out problems - but some of that will be BC defined. i'd say . 

hey mate thanks heaps ! - some one sees the logic here ++1

thanks for any help you can give ! : )

My personal suggestion in regards to block time/reward would be: Small

Small/short block time, small frequent reward

and Large cap. Make it last.

i generally tend to agree with you , if we are serious about making something useful and not just an attempt at marketing a quick bucks scam , we need something like this. agreed.

i'm not putting my design to a dumb scam.

Interesting...

http://cdn.memegenerator.net/instances/250x250/26236065.jpg

I don't like combined PoS / PoW design, but I will happily contribute to mini-blockchain part of implementation.
After all I will just copy paste your code, change PoS/PoW part to my awesome idea and easily win competition :)

you left out :

"if I have better marketing" "and can get more exposure"

people don't understand that the code is just the 50%, ha ha look at Bitcoin lol  all those flaws, but got  a little marketing becasue it was the first of its kind lol

just to ask what don't you like about the PoW + PoS system ?

I believe it would fall into "first of its kind" so even I should be able to handle marketing it.

It's seems to be copy o PPC system which relies heavily on central checkpointing and had some design flaw in beginnings. I guess it is fixed know, but information about how this algorithm really works are scarce (or not? any links?). Moreover this algorithm needs adaptation to mini-blockchain and until someone think over details we don't really know if it will work.

3D BC? Like, multiple blocks being hashed at the same time?

It seems that someone can't understand the checkpointing idea, but posting too much. ::) NVC and PPC can work without checkpointing, there is absolutely no problem. It's just additional measure which can be removed in any time, anyone can build own client without this feature.

Someone could post coin design in one nice detailed documents to help those who are not so smart ::) Anyway great to hear that.

EDIT: I guess I'll read the source.

You are correct in this sentence. :) I'm working on it currently... Some things will be documented properly after 0.4.1 release.

Great. Reading source is hard, so I'll just wait for doc. :)
From what I grasped up to now it looks like most of ppcoin system problems comes from fact that sunny king stubbornly refused to include any work in stake generation. This allows costless double spend attempts, costless offline network simulation and makes working on competing chains free. Quick update to require work for PoS which is inversely proportional to accumulated coin age should do the trick. It would still lower energy consumption because there would be nothing to gain from continuous block generation(Miner gets more coins per energy consumed if he just wait until coin gets maximum age).

no i think he meant like a Tree - then using Hamming code which is error correction bit data to ref back to the Block Tree ? , lets get him back to explain lol

but basically  the idea is if the hamming code matches then there is no need for the whole blockchain , but it needs to be looked at - ATM Bitfreaks! ideas seems to be more advanced.

Darn. I was mildly interested when I thought it was some kind of blockchain braid :P
I was envisioning transaction speeds to rival credit cards

I love your ideas.. Good job. will be watching this thread  ;D

digitalindustry, I appreciate this thread but I have some issues with the approach.

1) Focus on non-essential issues (logo, coin name, etc)
2) It's not really going to be called RoyalCoin is it?
3) Your self-assigned role as project leader

You're free to start your own project which includes my scheme but I cannot be a part of that project unless you stop trying to control every important aspect of the project. Every aspect of the coin needs to be up for debate at this point and before we even get into things like the name and logo there are much more important things to deal with.

What we need right now is a development thread, the focus should be on creating a project repository and implementing the new ideas to see how they work. After the core work is complete, we can see if it appears possible and beneficial to include something like PoS into the scheme. The goals at this stage should be:

1) Implementing mini-blockchain and proof chain
2) Implementing account tree database
3) Modify transaction system to work with new scheme

We're still in the pre-development phase, we must keep all our cards on the table. All participants need to have an equal say. I do not like the idea of you deciding everything just because you think you know a thing or two about marketing and economics. If you choose to lead the project in such a manner I will not endorse it.

For one thing I will never agree to a pre-mine regardless of what its purported purpose is. It's simply not needed despite what you may believe or argue, there's no true justification for it because the this coin design offers so many new advantages and it will take off stronger than most alt coins out there, without a doubt.

I don't think spamcoin boom will continue. With current rate of at least one new coin per day crash is to be expected any day. Then people will be reluctant to invest in new coins. Even with awesome features.

As for development I think we should start with new account database format, because it can be done without modifying other aspects of bitcoin (blockchain pruning, PoW, etc)

Hi friend - this is not intended as a "spamcoin" i think there is a communication breakdown here {looks around}

yes i agree - i think a Tree type is the go at the moment , at least that's what i hear?

but even the 3d (or Tree) with Hamming code can i believe achieve that , no doubt Balthazar and his team of alien hacker are hacking away at it. (or maybe he's not, maybe hes' watching the biggest looser and eating cheese)

I'm aware of that, I'm simply saying these issues are of low priority right now, we should focus on getting a working prototype before we move onto branding etc.

I read your introduction post but not much else. You seemed to be referring to it as RoyalCoin in the opening post. Has that changed now or did I read it wrong or something? EDIT: sorry I see now I was reading it incorrectly. Good to know.

I honestly do not care if this coin lurks around in the shadows for a while, the long term benefits will clearly shine through and prove its worth and value. I have no intention of pumping it up at the beginning, there's no point because it will do perfectly fine without a pre-mine promotion or what ever it is you plan to do. I strongly believe a perfectly natural start is the best thing for the currency in the long term and my position on that will not change.

I know, I know that is not what I meant. I just wanted to say, that before we develop anything this spamcoin mania would probably be over and it will be harder to promote new coin.

So you don't mind if you realease your coin, someone will copy it with 1 second shorter block (breaking change!), find good name name and fund marketing with premine? Wouldn't this be a pity if this copycat will take over market instead of your original coin.

Probably the most important question asked as of yet on here for me.

answer is NO , i don't care , they are playing a game , they CAN NOT copy my design i will guarantee that - "good marketing" ha ha ha ha  {breath} ha ha ha ha ha.

honestly have you seen any good marketing on here?

Bitcoin is terribly "marketed" - no one supported it outside the guys that pre-mined then it broke into the "Fear Capital Market" , many Libertarians sideways looked at it.

look i don't mind , all i'm saying I AM going to release this , but i want the code to be sound, i'll wait for Balthazar, but who comes on board will profit i can tell you . -

I don't care who does or does not, the free market will deiced if it is a no or go, people will know instantly if it is good or shit.

**
BitFreak! i will take your logo off when i have time and - just put a General Mini block idea but will still ref your idea , and if there are others ref them as well.


Still Pm me any coders (thanks all that have ! ) be ready to copy a design when release but ! Cheers. if the original guys don't want to have credit , with a great design i can give,  so be it. - ???

 

This question was for bitfreak to show him why marketing might be important

um.....   .       .  .             .

i don't quite know what to say?


aaaxn - when you go to the shop ? and you want to buy something , why do you believe that the people will accept the money that you give them for the goods and /or services?

would you say that they have Confidence that upon you giving them the moneyor Legal Tender - currency- they will then be able to exchange that, then again for other goods and services?


ok lets now step back form the general "retail" or "Goods and services" market ok , so not buying things alright , lets now look at investments - -

why do investments go up ?

well if we look for example at a stock or commodity , if the {price} rises in either of these that means generally/totally* there was more demand, we need to now focus in on what exactly causes this demand?

if you are a stock or commodity trader Why do you buy the assets that you may purchase?

did you know that the English used a stick to pay taxes?  look it up its called a Tally stick- it was just a stick with special notches in it that was split in two one part "spent" into the economy the other held by the issuer, but the King made them good for paying taxes, so that currency lasted for , i don't know perhaps 100 years?

why did people accept a stick for payment aaaxn?

i hope that helps?

Well I don't really know why you are telling me this things. I don't have problem with accepting that marketing is important.

Let's be clear. Original bitcoin client code is messy. Maybe new coin should base on btcd? It is supposed to be released soon.
https://blog.conformal.com/btcd-a-bitcoind-alternative-written-in-go/

hey thanks mate !! : )

Made appropriate edits best to read the topic again.  Cheers !

Sweet, another crap coin to pull my competition miners away from the only 2 coins that matter.   +1 for difficulty drop !  Yay !

Actually, this one has a mixture of demonstrated good features, and some possibly very nice new ones. It's a bit early for the 'crap coin' verdict.