Bitcoin Forum

Alternate cryptocurrencies => Altcoin Discussion => Topic started by: Bitcoin Oz on September 30, 2011, 01:47:17 AM



Title: Friendcoins....
Post by: Bitcoin Oz on September 30, 2011, 01:47:17 AM
7 million premined coins?

LOL

Lets create a currency where all the coins are premined in the genesis block and hand them out to people who we like only.

If you follow me on twitter  or facebook you earn friendcoins   :)


Title: Re: Friendcoins....
Post by: ArtForz on September 30, 2011, 01:50:59 AM
Weeds.


Title: Re: Friendcoins....
Post by: Bitcoin Oz on September 30, 2011, 01:58:58 AM
Weeds.

I dont want his currency i want my own lol.


Title: Re: Friendcoins....
Post by: michaelmclees on September 30, 2011, 05:00:09 PM
Be on the lookout for Fairbrix.   ;)


Title: Re: Friendcoins....
Post by: Peter Lambert on September 30, 2011, 09:32:07 PM
I suppose that could work ... but how do you get people to uphold the network? Transaction fees?


Title: Re: Friendcoins....
Post by: iopq on October 02, 2011, 09:57:45 AM
I suppose that could work ... but how do you get people to uphold the network? Transaction fees?
you only let your friends do transactions


Title: Re: Friendcoins....
Post by: Bitcoin Oz on October 02, 2011, 10:34:45 AM
Be on the lookout for Fairbrix.   ;)

More like 0brix  :)


Title: Re: Friendcoins....
Post by: Bitcoin Oz on October 02, 2011, 10:37:51 AM
I suppose that could work ... but how do you get people to uphold the network? Transaction fees?

How will bitcoin function when all the coins have been created ?

Think of it as a shortcut to finding out how that will function.


Title: Re: Friendcoins....
Post by: Peter Lambert on October 02, 2011, 11:45:31 AM
I suppose that could work ... but how do you get people to uphold the network? Transaction fees?

How will bitcoin function when all the coins have been created ?

Think of it as a shortcut to finding out how that will function.

The difference is bitcoin has users already. People will continue mining to keep the network moving because they have transactions they want processed.


Title: Re: Friendcoins....
Post by: iopq on October 02, 2011, 12:37:25 PM
I suppose that could work ... but how do you get people to uphold the network? Transaction fees?

How will bitcoin function when all the coins have been created ?

Think of it as a shortcut to finding out how that will function.

The difference is bitcoin has users already. People will continue mining to keep the network moving because they have transactions they want processed.
I have transactions on the namecoin network
but I'll let the OTHER people mine at that insane difficulty

bitcoin could literally die when the reward halves


Title: Re: Friendcoins....
Post by: d.james on October 02, 2011, 11:45:07 PM
I have 700 friends online and i will sell them for 1 friendcoin each.


Title: Re: Friendcoins....
Post by: Bitcoin Oz on October 03, 2011, 05:59:12 AM
I have 700 friends online and i will sell them for 1 friendcoin each.

Every time you add a friend you have  to pay me lol.



Title: Re: Friendcoins....
Post by: d.james on October 04, 2011, 07:00:19 AM
NoNoNo, You have to pay me 1 friendcoin for each friend I add then transfer to you.


Title: Re: Friendcoins....
Post by: steelhouse on October 04, 2011, 06:10:40 PM
I started a minersareidiots thread.  Your thread sounds more pleasant.  You are correct they all should be premined.


Title: Re: Friendcoins....
Post by: Bobnova on October 05, 2011, 02:27:05 PM
I suppose that could work ... but how do you get people to uphold the network? Transaction fees?

How will bitcoin function when all the coins have been created ?

Think of it as a shortcut to finding out how that will function.

The difference is bitcoin has users already. People will continue mining to keep the network moving because they have transactions they want processed.
I have transactions on the namecoin network
but I'll let the OTHER people mine at that insane difficulty

bitcoin could literally die when the reward halves

It's going to have major issues.
Won't be profitable for the vast majority of miners, hash rate will go through the floor, then it'll have NamecoinSyndrome:  Huge difficulty, no hashes, a thousand+ blocks till difficulty changes.


Title: Re: Friendcoins....
Post by: iopq on October 05, 2011, 03:09:39 PM
I suppose that could work ... but how do you get people to uphold the network? Transaction fees?

How will bitcoin function when all the coins have been created ?

Think of it as a shortcut to finding out how that will function.

The difference is bitcoin has users already. People will continue mining to keep the network moving because they have transactions they want processed.
I have transactions on the namecoin network
but I'll let the OTHER people mine at that insane difficulty

bitcoin could literally die when the reward halves

It's going to have major issues.
Won't be profitable for the vast majority of miners, hash rate will go through the floor, then it'll have NamecoinSyndrome:  Huge difficulty, no hashes, a thousand+ blocks till difficulty changes.
yeah, the difficulty adjustment algorithm makes me a sad panda
if people realize that GG is more profitable or something they'll start mining it

if the difficulty adjustment algorithm worked it would halve the difficulty quickly when people leave to mine another cryptocurrency and it would settle at a new, lower value, but BTC might drop in hashrate
and then someone could take it over with just a few terahashes and do doublespend attacks on exchanges


Title: Re: Friendcoins....
Post by: Bitcoin Oz on October 06, 2011, 05:37:59 AM
I started a minersareidiots thread.  Your thread sounds more pleasant.  You are correct they all should be premined.

brocoin   :)