Bitcoin Forum

A totally new cryptocurrency, developed from scratch in Dev C++ just following the bitcoin main idea. The official release will include many new features:

- New algorithm, usefull for scientific purposes (like Primecoin): This is the main idea to desigh this coin. Why do not use all the hash power for something really usefull? How it will be used? We will announce it with the oficial release.
- New and more user-friendly wallet, auto-installation package and autoupdate system (everyone could use it): Forget to create manually the conf file or/and add peers. Just install and go!
- Only 2 decimal digits: More user-friendly for worldwide understanding of the real holdings.
- Advanced security by default: Password settings required at installation and a screen keyboard pin when sending money.
- Bitcoin compatible for exchange from your wallet: You will be able to trade your Kreditz for Bitcoins with another Kreditz user, directly from your wallet: Secure, No exchange server needed, no fees, no scam!
- Wallet full customization: set limits, filters, sound alerts, etc: More ideas about this are more than welcome. If you give us a good new idea and we implement it in the oficial release, we will reward you with 0.1 BTC.
- Fully translated into English, Chinese, Russian, German, French, Spanish and more as we go incorporating new languages

Status:
Software: Version 0.1.0 Under development: 65-70% done.
Web page: Under development. 50% Done.

The first coin in these days i think that catched my attention.
Own miners will be released for cpu and gpu too uppon launch?

even though i know you guys are busy and you're gonna get a million ideas from people like me who want that .1 btc.. like me.. gonna throw this out there. gambling games inside the wallet with proceeds going directly back to the devs or for bountys.

that'd be fun for me anyways :)

Great idea!

usefull for scientific purposes ?

For what exactly?

A feature that is missing from actual wallets is the possibility of importing adresses from a txt file for example, that are being added to the address list.
Exporting is possible but importing is not that would be usefull if somebody is having recurrent payments for multiple addresses.
Also being able to make a spend for more addresses at once for example when guys are providing giveaways etc

In the first paragraph you list it as another scrypt coin - then you write its going to be a different algorithm, which is it?

nice, i'm watching this. I'm tracking all 2nd Gen Coins.

i like the 2 decimal place idea and fully customizable wallet.

12 trillion coins?

12mil block size?

Why so many?

Coin w a good name. Should be enough to go far! :)

let it go!

It's also my question.
I cannot even count the amount. :) :)

I like the name. Sounds like a village in Prussia.

I like the name, 2 decimals and new user-friendly wallet.

Good luck

Kreditz could be minned from your wallet from the first block.


We prefer keep the wallet without it. Thanks for your colaboration.



The algorithm itself its the most important part of Kreditz. We will keep it hide as long we can, probably until the same day of the release. Obviously, it will be know in the same moment we release the source code.


Good idea, even is not new. Thanks for your time.


The amount is the same that Bitcoin. Think on that and will be easy to understand.

Sounds good, just make sure starting difficulty is high enough or have low reward to offset the initial adjustment time.  A lot of otherwise decent coins have had bad launches because of instamines.  

+1

Some ideas i have dont know if u like

1. How is the idea if a group can club together and make a pool from single wallet and club there machine power to mine. This will become more social and will give less stress on pools. ( Friends group Solo Mining )

2. Miners can have ability to mine from wallet CPU as well as wallet detect GPU too.

OK, all of the world's M2 money is $21 trillion USD (coincidence? ) - so you're either trying to replace all that, or maybe the goals here might be more modest, like paying of Zimbabwe's national debt.

I have never participated in being among the first ones to mine. I wish I was here when Quark was first announced.  Can't wait to mine this thing to become an instant billionaire.

So, where the wallet app and how do we solo-mine theze Kreditz?

How long does it actually take to create a new coin?  And what does one need to do it?

I like the idea of a self-updating all-in-one wallet through which you can do your mining and KTZ/BTC (and maybe other cryptos) trading.  It would be cool if it was constantkly backing up (synchronised) with the corresponding Cloud wallet in case the device is lost/stolen/reset.

hell yeah

Not for the wallet and not new but transaction message / reference could be a useful feature especially in the e-commerce world.

Yes, it could be implemented for later versions since it is not really priority


If you want create a Bitcoin-clone, you can do it in 1 week with some knoweledge of programing.
And email confirmation for transfer funds is under study to be implemented (as an extra security option)


The only goal for all this coins is avoid transactions like +0.00000156 When you earn one BTC, you really earns 100,000,000 satoshis and every blocks generates 2,500,000,000 satoshis! Every Kreditz block will generate 1,200,000,000 centz, less than the half but two times faster!!

Next step into Kreditz promotion is upload the web and share screenshots and videos. (soon)


Difficulty will be recalculated every two blocks (in all pair blocks) This will be not a problem (hopefully)

For me, this coin is going to boil down to differences in the algorithm. Wallet features are nice, but nothing to really get excited about. That said, I'm glad to see an altcoin dev doing more than just changing a few constants around, making a pretty photoshop logo, and compiling.

I like the approach.
Here are my suggestions/ideas:
No order. Just ramblings:

- Try to come up with (MultiBit a-like?) wallets that somehow (optionally?) only download headers and don't have to download the whole block chain.
- Make native wallets for all platforms. Not Java.
- Make all wallets available (at launch!) and make sure they're tested for all platforms. Including OSX Mavericks(!). If your target is mainstream, remember that mainstream users are using OSX.
- If you give moms and pops the possibility to mine from their wallet, make it optional. Also, include 'nice -19' a-like features so that their laptops won't melt or the fans don't start screaming.
- In addition to that, in order to do 'honest mining' for everyone, keep it cpu -only and try to keep the asics and gpu's out. Use something like quark.
- As you mentioned, an installer and auto update would be awesome. However, please don't loose the view of the whole Bitcoin idea that things are decentralized. The source code should be there and if something happens to the Dev team, this coin should survive.
- Make a blockchain explorer available at launch from your website.
- Write upfront to respectable pool owners to help getting this launched and are prepared before launch.
- Inform exchanges about your plans and explain that your approach is different. Agree upon condition that are going to be met (hash rate, number of coins mined, coin age etc.) as of when they will include you in their exchange.
- Talk to processors out there and poll their interest to offer it to their merchants.
- Come up with official press releases where you explain that this coin is targeted at mainstream. Not only for the technical bitcointalk/reddit crowd with their garage stacked with GPUs.
- If you pick a spokes person, pick one with some experience and more or less independent. He can can somehow have an interest but not someone with his wallet filled with pre-mined Kreditz. Those are not taken seriously.
- Create a website that doesn't look like yet another $15 Joomla template.
- Be (and stay) communicative to your miners/speculators/users/fans by creating a forum, newsletter, twitter account etc.
- Be clear (and don't lie) on how much is going to be pre-mined. Keep it low.
- Not only use the pre-mined Kreditz to fill the pockets of the devs but make >90% of it available for bounties, rewards etc.
- Use bounties for things that help Kreditz to become more successful. Instead of only for a logo or an app, focus more on bounties for P&R, help to get Kreditz into exchanges, Kreditz Card etc.
- Don't do Givaways but do creative contests.
- Don't fuck up your launch. Roll out a plan.

I'm not saying that these things are all needed. But maybe some of them are useful.
I really hope you guys find the right approach to actually make an alt-coin that makes sense. If you do that, you'll have my full support and I will help wherever I can.
Good luck!

Nice..

mark

I fully agree with all the points made by MarcoTC!!!
I have been in search of a perfect crypto-for-the-masses, and so far in my book Quark came closest.
Here are my advices, with some elements of what I would envision the perfect coin:
* Look into the Future!
* Make sure the coin is distributed as evenly and as widely as possible.  Right now any Fiat represents more equality of wealth than any Crypto!  This the greatest problem that cryptos haven't been able to solve. One way to achieve this is to make each wallet come with "frozen" 10,000 Kreditz, and as people mine and spend over a very long time, the more of those frozen credits will become available. Kinda like inheritance that matures.  Also these Kredits can mature faster if they invite other people who reference them.  Each wallet can be installed on a device only once (need to have checks against cheating) maybe it integrates with the cloud wallet or some kind of algoithm that creates a unique numeric identifier key from reading (but not storing) a fingerprint.
* Make the mining CPU only - available to the masses.
* Make the mining as an optional tab in the wallet and so that even grandmas can mine! and choose how many percent of their CPU power they wanna give.  If they know that this is what powers the network, many people will easily give 5-10% of their CPU power for free.
* Make it the fastest coin possible. So that people and machines can use it as an everyday currency.
* Make it as secure as possible. (Quark)
* Make it as Anonymous as possible maybe take some features from Anoncoin.
* Have a tiny controlled annual inflation built into the system, like Quark.
* the Wallet GUI should be beautiful (example Earthcoin, CasinoCoin) and PRACTICAL
* transactions should have messaging and attachments
* escrow
* if you want to create a coin for the future, think Economics and not just code. This guy highlights some serious economical flaws of Bitcoin http://youtu.be/W-sfd9jen1A

These are some of my points.  I know, looking way into the future. There are more points, but that'll  do for now.  (Maybe I just need to team up with a programmer and create my own coin)

This is the first critcism? Glad it is refered to the logo. It make us think that we are in the good direction.
Anyway, you could send us a beutiful logo if you have time to work on it.

Kreditz will be CPU-only mined. I will add it to the first post.

As for the number of coins, we expect that eack KDT will reach 0.00000100 BTC. If so, one mont only after the launch, there will be +-108,000,000,000.00 KDT mined, 108,000 BTC market cap! The 6th higher market cap between cryptocurrencyes.

I hope this wont result in segmentation fault.

I love CPU mining. ;D

See the ultimate cryptocurrency link in my sig for my opinion.

And please remove PoS, it's good for nothing and does not actually prevent a 51% attack.

matrix and marco are the same person.....

Wow, this looks very promissing...
Lets move to CPU coins, as Scrypt ASIC are soon to come..
Question is, what is best peice of HW to mine CPU coins? Can anyone already experienced qive me answer? :)

interesting idea. I like the trade option.
However, i would like to know more about for what exactly its useful other than mining?

why such a huge number? :s

Very cool. Good luck!

This one can be successful. I'm watching this. The huge number might be because of only two decimal places this coin will have.

estimated release date?

It is hard to say; we expect early febraury, but it is not sure yet since there is still a lot of job. We dont want start with a beta-version that could be not stable enough. We want see Nxt source code to check if there is anything helpfull for us (Dont worry, we will not use Java at all)


The algorithm itself is helpfull. Also, including PoP* inside it is under study to globalize our currency.

*PoP = Proof of Participation

Thanks for the feedback.

Watching this. Looks interesting.

Few ideas for the wallet;

- Automated payments - like setting up a direct debit. Choose the quantity, and the amount, and send auto-payments to a target address
- Integrated and updating prices from all exchanges that list the currency
- How about a proof of stake based on a percentage value, like an interest rate? Perhaps determined by the global hashrate? Decentralised interest rate. Low hashrate = more interest to encourage mining.

+1 for Nullu's idea of Direct Debits!

Also, make sure that this coin does not get instamined in the first weeks.  That is the only drawback of Quark, and damaged it's reputation a bit.  The release of new coins should be steady and over a relatively long time.

I love the idea of using the computing power for something useful.

I'm getting excited about this project by the day,the more I think about it.

2 more suggestions:

1) How about using all that computational power to discover new numbers in Pi , something like what this guy did here http://www.numberworld.org/misc_runs/pi-5t/details.html and also here http://www.numberworld.org/misc_runs/pi-12t/  but on a much much larger scale.

2) How about changing the name of this coin to something original?  Kreditz sounds just like "Credits" and pretty ordinary. We need an original name like no other, in order to reach critical mass usage.

Better use for currency so we don't have to go to the 8th decimal place I like it

Denominations;

When sending coins, why don't you have more dominations set up? It would be quite easy to do. In most wallets you can send milli-coins, and micro-coins, but why not actually have a series of actual named denominations? All the coins I've seen have denominations going down, but not up.

Mega Kredit = 1000 Kreditz
Uber Kredit 100 Kreditz
Kredit = 1 Kreditz
Mini Kredit = 0.01 Kreditz

So on. so forth. Maybe there are coins that do this already, I don't know. I prefer dealing with names I can remember though, not mBTC and uBTC.

Doesnt make any sense imho.
Should be correct formats like:

1000 = kilo
100 = hecto
10 = deka
.01 = centi
.001 = milli

but thats just my 2 cents.
Mega is often sayd to 1 000 000.
mini to 0.1

There are so many mistakes from people due to the ammount of decimal zeros in bitcoin. Kreditz (this is the definitive name) is user-friendly designed. You will be able to read and understand how much you own. Using a pre-formated wallet you never will see this:
Balance: 15689765.34 KDT
Do you own one and a half million... or fifteen millions? IT is fixed as follows:
Balance: 15,689,765.34 KDT

There will be also an option to set manually the KDT value (in any other currency, crypto or fiat), so you will see something like this (release version)

Balance: 15,689,765.34 KDT
Estimate: 313.80 US$

(In this example, 1 KDT = 0.00002 US$)

Including an autoupdate for the KDT value from (Where?) is in study, but is not really a priority right now. Anyway, it will be optional for the user if it is finally added.

We do not agree with autopayments; after all, you will need to have your wallet online anyway, and we prefer to keep a high security profile: all payments will require user confirmation manually.
But we talk today about the posibility to include something very similar. As we mature the alternative i will post it here.

Like the ideas. We need more user friendly coins to go mainstream. The common man doesn't no how to set up .bat and .conf files... Cant wait

Software Report:

- P2P Network : Working Stable
- SSL Encryptation: Working Stable.
- Algorithm: Working, some issues to fix yet.
- BlockChain generation: Working, begining tests.
- Wallet features:
   - Show/Hide Balance: Done
   - Change password: Done
   - Show transactions history: Pending
   - Pin verification: Pending
   - Sounds: Pending
   - Filters: Pending

Estimate release date: Febraury first week hopefully.

Interesting, I look forward to seeing where this goes.

We will need some testers for alpha release.

Since we are not working over a (many times) copied platform (bitcoin) we want test the network and secure conections all over the world.

Please note the following:
- Alpha release will not have PoW mining.
- PoP and PoS are implemented.
- A Totally new and INNOVATIVE feature is added; it was added just in the last days and will probably change the world of the cryptocurrencyes.
- Windows EXE only; Kreditz will be cross platform only for beta and final release.

Test network is only for development improvements. Coins earned will not have any value since the release itself will contain an instruction to stop generating blocks after some days (if (NewBlock.GetNumber > 2880) Delete)

If you want help testing, please, PM us. We will send you the EXE and the source code in plain text (to avoid piracy) The software is totally secure and free-malicious spyware. You can ever run it in the cloud if you prefer so.

Testers and (future) investors will receive the coins mined in the genesis block of the oficial release (This will be done to incentive the PoS from the first day)

this is great coin..
watching now

Love the sound of it so far.

Here are the first two screenshots.

This shows the on-start window.

http://s11.postimg.org/y54rdu44j/kreditz_starting.png

Here the main GUI. Since this is an alpha release, most features are not implemented yet.

http://s7.postimg.org/e4478qscr/kreditz_alpha.png

Just few days to start the alpha test. Thanks to the people who showed interest to help via PM, we will let you all know when the test will begin.

Finally a 2nd gen that don't start with an IPO.

A feature like coin control would be nice (see; Electum) so that you can control individual balances of your Kreditz addresses, freeze addresses from sending and sending from only 1 address.

Also nice would be another way of transaction fees so that the sender don't have to pay but let the network automatically create a % based fee which goes to the miners. (don't know if anyone tried this before?) this means ofcourse there is no hard cut on total coins ~

Looking forward to run a test with this.

nice ;) 1++++

CPU only ? or GPU+CPU ?

I'm in. You gotta bring something new to be taken seriously, and this looks interesting.

Well, we are having some issues generating the blockchain, but hopefully it will be fixed on time so the next week we could begin the alpha-testing. To be honest, we are surprised for the ammount of job required but more enthusiastic than ever because that all difficulties are overcome.

Sounds like this coin has some nice features to it.
Keep up the good work ethernno, and I'll be looking forward to the release!

UPDATE: Welcome to the weekend! We will work as hard as we can to get the alpha version. We really want some opnions outside us, maybe we are going in the bad direction and someone else could let us know the way to follow.

PoP seems to be a good thing, maybe even better than PoS. If we could get a good-balanced relation for the algorithm itself then our coin will have its sustainability guaranteed, so we are studying it carefully.

What is the meaning of the name Kreditz?

Great job!

I saw your effort to bring us a great coin, rather than other scam, just asking for money only with some shit posts.

I am sure to involve in this coin and mine it!

REAL Freeware programmers never ask for money. If the people use our software and they are happy with it, we of course will accept donations.


Kreditz = Credits, the name of the money in many, many futurists books and movies. Also, to avoid possible future copyright claims.

A word "Credits" can not be copyrighted, because its a word. Logo, brand and slogan can be copyrighted, but not word.

I think we should add exchange module. Get rates from multiple trading platforms [USD / RMB ... / BTC / LTC].
The full force of the wave line network operator, the difficulty wave line module.
So that they are displayed on the wallet, instead of entering commands. :P

UPDATE:

Lets keep this thread clear and honest; we are having multiple issues with Kreditz:

- the system becomes out of memory when we try to hash (SHA-512) the messages (???)
- sometimes the RSA keys are not working properly. Probably there is something wrong in our own application.
- We want use only 16Kbits RSA keys, but it looks difcicult since they are hard to generate for most CPUs.

In the other hand, there are some good news too:

- Many bugs in the block generation fixed.
- RSA + ECDSA + 3DES security.
 
An pseudo-smart scrypt able to detect hack connections could be implemented if we finally can fix it.

Once again, thanks to everyone interested in Kreditz. Some one sent us a prototyoe logo, but we really dont liked it, and there are many other prioritys right now.

Keep tuned.

Any news?

Holidays are over and now we have less time to work on kreditz.

This is an screeshot as how it looks until now.

http://s7.postimg.org/4kz25os2z/kreditz_160114.png

Needless to say that it is extremely complex to develop a new crypto that must be secure, stable, full functional and open source. Also, as we program we find bugs and have new ideas to implement, so the project becomes bigger and bigger.

We are including the debug console in the alpha so if testers have some issues to fix, they could do it themselves.

Thanks for your interest.

PS the SSL lock will not be shown in the release

cpu only coin with pos that is future (less energy waste and more secure)

it should be called Imperial Credit:
http://starwars.wikia.com/wiki/Galactic_Credit_Standard (http://starwars.wikia.com/wiki/Galactic_Credit_Standard)

Love the idea and the features! Many improvements over Bitcoin/Litecoin/PPC/XPM, etc.. Best of luck!

The bitcoin clones always fall into the same: they are useless, beyond serving as tools for speculation and for the enrichment of their pseudo-developers. Let's stop this plague, which is rapidly decimating the credibility of digital currencies. The new generation of crypto currencies need to jump out of the digital wallets: be easily usable in the real world.

The real innovation of Kreditz was being developed to overcome this barrier. To do this, we(expect)  include two main design issues: control over the price and tools to use in the real world.

More to come...

any news ?) i hope it will be relised )

Me too.
I think the devs are working hard on the code.

Well, GPU is more efficient, so you are wrong.

Bump.. news>?

I have a suggestion that would come in handy if this currency hits mainstream and you can actually buy stuff with it. You know how pain in the ass it is to store your receipts when you buy stuff, so if the stuff breaks you find the receipt and go back to the store with the broken stuff and the receipt and demand they fix it or refund as long as you're within the warranty period? What if at the time of the purchase, when you go to the register in the super market, instead of them handing you a paper receipt, they send the receipt back to your Kreditz wallet, and the receipt is then safely stored in the p2p network / block chain forever? This would obviously mean that not every wallet must store the whole block chain, only parts of it - and could be too big of a challenge to program reliably.