Bitcoin Forum

Free software in the form of open source etc has become very powerful. Could the same happen with cryptocurrencies? Are there any cryptocurrencies today that are truly free, meaning no fees, costs or exchange rates?

How much is one Facebook like worth? How much is one YouTube view worth? How much is one click on a link worth? People's attention is becoming more and more valuable it seems. Attention, without money.

Also, demographics and psychographics and so on are becoming increasingly valuable. Again, no money involved directly.

hmm 
cryptocurrency without price?  ???

Yes! The value could instead of price be in the information about users/usage. Simply the attention from users is perhaps valuable enough to be put in a block chain. I'm just speculating here and haven't thought it through yet. :)

Money move the world. DOGE had no fees in the begginning bot not now. You can make your own cryptocoin.

But user attention is a form of currency! Well, if stretching the definition a bit at least.

Exchanging a free cryptocurrency into other crypto or fiat currencies could be tricky. Instead the free currency could have intrinsic value separate from money. Take for example this use case:

1. A user visits a website.
2. The user clicks 'Pay Freecoin'.
3. The transaction is stored on a block chain with information about the website domain.
4. The website owners can then prove publicly that they had one user attention.

one question: is the "intrinsic value" serious enough reason to create and push-up the alt?
it looks like meta-karma.

and what about getting freecoins?  I have to mine the air?

The miners will be awarded one Freecoin when they add a transaction to the block chain. So for example cloudminer.com could collect a lot of freecoins.

And freecoins could even be transferred between wallets. When transferred, the domain for the freecoins will be replaced, such as somedomain.com to anotherdomain.com.

One problem is to ensure unique and real user identities. Otherwise bots could quickly fill up the block chain with fraud payments.

Would there be any real useful value in Freecoin if it would work like that? I don't know yet. ;D

(The name Freecoin is already taken so another altcoin name would have to be used in practice.)

So you thinking of a decentralized store?

The only things stored in the Freecoin block chain are the unique user IDs and the domain names for the owners of the coins, plus a value A or B. Class A means original Freecoin, i.e. a user has directly payed the coin to the domain owner. Class B means that the coin has been transferred to another owner. So each freecoin has only three data fields: user_id, domain and class.

Freecoins are generated by genuine users paying with their attention/interest/like. So the users don't have any freecoins stored in their wallets. Instead, a new freecoin is generated automatically when the user pays.

how i can see it's nor an cryptocurrency yet - there is^

no anonymity(anonymity = many accounts to one person as the fundamental point)
no safety (if it costs nothing in usd(or euro, or whores) - it meant nothing, there are no real need to keep it safe


it looks more like marketing idea then real currensy. not bad marketing idea. thank you  ;D

We are wanna make a new cryptocoin?

Maybe the anonymity issue can be solved by having encrypted user IDs. I personally wouldn't want to pay with Freecoin on say a dirty website, lol, unless my user ID was securely encrypted.

There is a need to ensure that when a domain owner claims for example that they have received 10,000 freecoins in one day, that the claim can be objectively verified to be true. That's where the block chain is useful.

not sure if it is what you are looking for but take a look at Credits CRD https://bitcointalk.org/index.php?topic=634403.0 http://vimeo.com/100148381

That seems to be about credit. My idea is that freecoins are only generated in real-time, when the users pay for something with Freecoin. The users pay with their attention. How much is attention from users worth? A lot! For ordinary users, their wallets will always contain zero freecoins and zero credits. The Freecoin wallets automatically generate new freecoins on the fly.

Yikes. On a second thought, encrypted user IDs could get compromised by matching them to session information about the real user identities. Then by examining the block chain the whole history of users' payments could get exposed. Not good.

One inadequate solution is to remove the user IDs completely from the block chain. Then the freecoins would be truly anonymous. The important thing is that each freecoin is guaranteed to have been payed by a genuine user, which could be tricky since bots could be set up by someone using his or her real user ID, and the bots could then make fraud payments like crazy and thereby make a domain owner receive tons of freecoins without any real user interaction.

Another solution is to store the real user IDs transparently on the block chain. And set a limit to say max one freecoin per user and domain each 24 hours. That would at least severely throttle the bots' ability to generate fraud payments.

It would take too much time and effort for me to learn how to actually implement a free cryptocurrency. Plus the problem with genuine and unique user IDs needs to be solved. With Freecoin (or what to call it) one physical person should only be allowed to have one user ID.

I have ideas of a new cryptocoin and i could make one. But one problem the decentralized part. The mining could be equal mining (each user get a block once a day for a little work). And we will need a private and public key generator.

CLAM if you had bitcoin/doge or ltc on may 15.

Huntercoin if you can human mine!

The problem with hunter coin is you get killed too fast. There are too many people in the map. You can't collect anything.

I wrote earlier that the Freecoin wallet would have no coins in it. It would be silly perhaps to call it a wallet if it couldn't have any coins in it. So instead the Freecoin wallet can store coins of both class A and B. The Freecoin wallet also has a freecoin generator that produces one new freecoin of class A every time the user pays to a domain owner. The wallet can have a user ID connected to it, or a domain name, or both. The Freecoin generator must be connected to a user ID.

As an example, freecoins can be transferred between Freecoin wallets. If a freecoin of class A is transferred it becomes class B. And only wallets with a domain name connected can collect freecoins of class A. New freecoins are always class A and can only be created by users paying directly or by miners adding transactions to the block chain.

The reason for why transferred freecoins become class B is because class A indicates original freecoins. If for example, a domain owner has 50,000 freecoins of class A and 20,000 freecoins of class B, then it means that the domain owner has collected at least 50,000 freecoins directly from users (or from mining) and the 20,000 class B freecoins have been received from wallets through buying, trading or donation etc.

The class A freecoins have higher status value than class B since they are proof of the domain owner having collected them organically. Class A freecoins show that users have payed with their attention/interest/like to a particular domain, such as X-MenReloaded.net or Walmart.com. Class B freecoins are connected to a domain name or a user ID, without there being direct user interest involved.

If successful, and it will be :GHWB voice: ;D, Freecoin can be exchanged for other currencies such as Bitcoin and USD.

Map has since been reduced.  No where near as many players and there is a random "sickness" that can happen now... this is to introduce more risk for people running armies of bots.

www.Huntercoin.info

Much better now, but the market price is a bit low at the moment.

10HUC for a general now too.

User IDs connected to physical persons are a tricky issue today on the Web.

"THE founders of the internet were academics who took users’ identities on trust. When only research co-operation was at stake, this was reasonable. But the lack of secure identification is now hampering the development of e-commerce and the provision of public services online. In day-to-day life, from banking to dating, if you don’t know who you are dealing with, you are vulnerable to fraud or deceit, or will have to submit to cumbersome procedures such as scanning and uploading documents to prove who you are." -- http://www.economist.com/news/international/21605923-national-identity-scheme-goes-global-estonia-takes-plunge

Maybe Twitter usernames with OAuth authorization could be used for Freecoin and that it would be good enough. Then one person could have several user IDs but making bots with thousands of fake IDs each would be impractical. And together with a max limit of one freecoin per user ID and domain each 24 hours, the incentive for fraud would be small.

When millions of freecoins have been generated it will be possible to determine an objective ranking of which websites/apps have earned most freecoins of class A and plot history charts for that ranking. That's a good incentive for domain owners to want to earn class A freecoins which in turn will give the currency an intrinsic value.

Notice that although the actual transaction times for Freecoin may be several minutes, for users the 'Pay Freecoin' click can be made as fast as a fraction of a second. If a tiny percentage of the transactions fail it doesn't matter much since the payment is basically just like an ad, "Like" or "+1" click.

A typical scenario can be that a user (end user) on a news website has to click 'Pay Freecoin' to read certain articles. From the users' perspective it's very user friendly where the users simply click the payment button/link and directly get access to the news article. The amount is always only 1 freecoin so the whole payment and transaction process can be handled automatically without the need for the user to specify the amount or wallet ID etc.

When unique user IDs are used, is it necessary to store the coins in a wallet? Or is the block chain itself enough to hold the coins? That would be convenient since the coins would then be safely stored automatically without the need for cumbersome private protection and storage of personal coins.

*bump* Oh, maybe I should add some information:

Ray Kurzweil has described how information technology is improving exponentially in terms of price/performance. And even materials things are becoming information technology. This means that money as a token of power will become less and less important. If you can 3D print a Big Mac for free in the future, where is the power of money? If zero-point energy technology can provide all the energy we need, what happens to the trillion dollar energy industry? When general artificial intelligence and robotics can do everything we humans can do, and do it better and for free, what power does money have?

The valuable resource of the future will be people's attention. Understand that, or go the way of the dinosaurs.

I have no idea how it can exist, if u will find any examples let me now about it here

In my previous post I described the really big picture. Technological singularity stuff. Won't happen until around the year 2045 according to Ray Kurzweil. Still, I think the idea of a free cryptocurrency could become a viable alternative, maybe already today.

The core idea is that people's attention is the fundamental resource. Take a Facebook like for example. How much is that worth in monetary terms? Quite a lot, even in terms of real money. How much is an ad click worth? The idea is to have a cryptocurrency that captures that value of user engagement and gives it an objective measurement.

you need miners to mine the coin. That costs electricity. They are not going to mine for free.
That said, there was faucetcoin, but it never went live

https://bitcointalk.org/index.php?topic=552903.0


other than that you can create your own pos-coin and give it away but people still need to have an interest in staking it.

It's about having people interested in keeping the network running.

There was also freebiescoin lately but that got nowhere. Or btctalkcoin which suffered from bad dev.
Latmium for pyramidsheme. 

The miners will earn freecoins when they add transactions to the block chain. I was thinking 1 freecoin per transaction, but perhaps the miners should earn much more than that since 1 freecoin will only likely be worth less than a dollar. In the beginning 1 freecoin may only be worth a few pennies!

If I had a website I would consider having a "Donate Freecoin" button. Popups and obtrusive ads suck imo. Freecoin could replace some of those kinds of ads.

I took a look at faucetcoin. I don't know much about altcoins, so it went over my head. How does the faucetcoin work? I don't get it.

How many freecoins can be produced? The answer is: to infinity, and beyond! ;D Because freecoins will be generated both by users and by miners. And each user has an "infinite supply" of freecoins since they are created in real-time every time the user pays. The hard limit is instead in the rate of new freecoins: max 1 freecoin per user ID and domain every 24 hours. So for example if you have payed 1 freecoin to CNN.com then you will have to wait until the next day until you can spend another freecoin on that domain. And CNN.com somehow needs to keep track of your user session so that they can see that you already have payed for one day.

Freecoin will have a Web API for payments (HTTP/HTTPS and for example JSON). And the mining etc will take place on a lower level. Is that possible to implement today and still have it decentralized?

Another possibility with Freecoin is that it will be possible to get statistics about how many freecoins each user has spent and on what domains. I don't know if that's good or bad. Probably bad if someone wants that kind of information to be private and hidden. Statistics like that is very valuable though.

Nothing is free in life... and if it is the Goverment will be taxing it soon! (Oxygen, rain water ect)

Users pay with their attention. That's a valuable resource. Ask YouTube.

Wait a minute. If the coin production I described earlier is used then no double spending is possible. And the proof of work unnecessary! The miners can simply check if the user ID + domain combination has already been added in the past 24 hours. If so, the transaction is rejected. If not, then the transaction is added to the block chain. Transaction time: 1 millisecond!!!

The difficult part of the miners will be how to achieve a global timestamp. Real clock-time timestamps. Not like Bitcoin timestamps.

"For Bitcoin, each timestamp includes the previous timestamp hash as input for its own hash. This dependency of one hash on another is what forms a chain, with each additional timestamp providing evidence that each of the previous timestamp hashes existed." -- http://en.wikipedia.org/wiki/Bitcoin_network#Timestamps

To solve the global clock time, the miners could add UTC timestamps from NTP (http://en.wikipedia.org/wiki/Network_Time_Protocol) servers every ten minutes. And from those timestamps a global timestamp is calculated with a majority rule. If more than 50 percent of the miners produce accurate timestamps, then that will ensure that attempts of setting fraudulent timestamps are blocked.

Maybe a proof of work is needed for the miners after all. Because there needs to be a mechanism for determining which miner gets the reward for each block. Plus I'm unsure about how the security of the block chain can be guaranteed in a trustless way. That may require proof of work too. Or else it would probably be too easy to fork and make fraudulent copies of the block chain.

But as I wrote in an earlier post, even if the transaction time is several minutes, the payments can be done in a fraction of a second.

Do a IPO. GL :P

I'm just speculating wildly about possibilities in this thread. ;D I have no idea yet if it would work in practice, either technically or from a business perspective.

For example, the user IDs would be publicly exposed on the block chain. That means zero anonymity. Would many users accept that? On the other hand, the transparency is good for statistics and the users in a sense pay by allowing their payments to be public. The users' payments, although free, contribute to the overall value of the block chain.

what about kora?
https://bitcointalk.org/index.php?topic=620518.0

Free stakes for distribibution is a good starter for free coins I guess

My idea of a free cryptocurrency is that users will have an endless (time-rate limited) supply of free coins. Kora seems to be an ordinary altcoin.

And user IDs will be stored publicly on the block chain, to prevent bots from making fraud payments and to make the block chain valuable for data mining and statistics etc. And each original payment will be connected to the domain name of the receiver, which also adds to the value of the block chain.

I haven't figured out how to get unique user IDs connected to physical persons. My previous idea of using Twitter usernames as user IDs makes it hard to have it trustless since the apps that the users need to sign in to can make fraud payments.

Need to think of a way for it to have value, giving away free coin isn't a good idea..

What  I understand from you is that you want to store information in the blockchain for information about behaviour (payments, etc) of individuals.

I think you could say that people would give up their privacy for money? So that other people can datamine/look for interesting personal behaviour in the blockchain?

If users of your coin would agree in giving their privacy and every transaction could be easily traced to a certain person that would mean that you would have to "pay" these users for every transaction they do.

The funding of these free coins should then come from people who have value by the information they can gather from the blockchain?

The more cryptocoin,please stop.

I'm thinking that class A coins will have value since they are proof of domains having earned them. So for example if Mashable.com has collected 50,000 coins during a month, then that's valuable reputation value for that news website. It's an objective and publicly verifiable metrics. So even if the coins were generated for free by users, the coins end up having value.

The other idea I have is that class B coins are those that have been traded. Even potentially traded into other currencies such as BTC and USD. A class B coin can always be tracked back through the block chain to when it originally was a class A coin, so its value is preserved in that way.

In a way users "pay" by letting their transaction history become stored on a public block chain. The users pay the domain owners for services or as donations etc. It's very easy to pay. Just a click "Pay Freecoin" or something like that.

All information public. Shady trading automatically discouraged! ;D

The cryptocurrency market could become huge. And the free coins would have their own niche and would only work well in some situations. A gambling site for example can only earn one class A coin per user per 24 hours. That would pretty much suck. For the gambling site it would be better to use Bitcoin or some other ordinary cryptocurrency, or coins of class B (which aren't free since only class A coins can be generated organically for free).

The use of domain names in the transactions is useful. This means that the protocol can demand that the miners call a specific URI such as /freecoin-verification/ to ensure that it's a real website. Otherwise bots could make fraud payments to millions of fake domain names.

The user ID problem remains to be solved however. Frustrating! >:( Maybe in the future there will be a trustworthy user identification system. A bit Orwellian perhaps but for example every person could be given a unique IPv6 address as a user ID.

A new idea I came to think of is to use domain names as user IDs until a better user ID system is available. Then the freecoins would only be for people who have websites, but that's enough market to start with.

And the wallets would run on the individual websites. So the protection would be in the domain name.

When a user clicks "Pay Freecoin" the web browser is redirected to a URI /freecoin-payment/ on his or her own website, from which the payment is made, and then the web browser is redirected back to the first website with information about successful payment or payment fail status. Something like that. I haven't thought it through fully yet :D, but I wanted to post it here while I have the idea in my mind.

I can't imagine how it may exist
What reason to work with such coin