If your wanting a coin to be for small miners, the best bet is to go Scrypt.  ASIC miners own the BTC mining.  You're not going to be catering to small miner with SHA256d.  The small miners have all but moved over to Scrypt.

Yeah I don't really think Santa Coin has the right ring.  But since it's a coin for the miners, I suggest the name of something valuable like Titanium Coin, Platinum Coin, Lithium Coin, Plutonium Coin, ect.  Black Diamond sounds pretty cool as well.

As odd as it seems, from following your posts for the last week or so, you have my interest to at the very least watch to see what your going to attempt to try with your coins.  The 1% is alot better as well.  But I will say if your going to try to implement something totally new, like a script that gives more to the smaller miners, that will end up costing you a bit of money, as that will take more programming know-how.  Who knows I will probably even join onboard if it's a scrypt based coin.  If it's SHA-256d, count me out.

Well not exactly Satan Coin.  It was the 6coin I believe.  https://bitcointalk.org/index.php?topic=239201.0

The Bottlecap foundation gets a donation from people playing in the Casino???  Then for sure I am going to sign up. 

Also, I was wondering, Does gambling in a Casino add value to Bottlecaps?  Or does the whole thing basically look like 2 transactions between wallets, and nothing to build upon the value of the coin?

A couple of more things.

Your jobless and semi broke.  You have 2 small children, and can't afford to put much money into the development of your coin.  You aren't a programmer, and your trying to launch 2 clone coins at once.  You don't have plans unless by some miracle your coins are still standing 3 months later, your going to take half the profits from the miners, and you think somehow your coins are going to outperform the other 99% of the daily alts being released.  And to make matters worse your going to put a target on your coin by giving it a religious title, and you expect someone to set up merged mining for it, possibly for $30/hr??

Do you have many plans on creating stores to buy goods with your coins?  Are you already hitting up big businesses to see if they will accept Catholic Coin as a method of payment?  I still say you should have gone with "Itchy and Scratchy Coins".  "It's like money, but more fun".

Take the spare time you have, spend it with your kids.  All your going to end up doing is using up all your time, and losing everything your pouring into this venture. 


1 thing you might have going for your coin.  I can see the ads now.  "For the naughty catholic girl in you, Sextoys.com now accepting Catholic Coins, 30% of the proceeds going back to the Catholic Church"

Lol, is Catholic Coin your charity coin?  Or your I want to make money coin? 

And it's funny people who have a programming background , with no kids ect don't try to launch 2 coins at the same time because of all the work involved.  Are you really sure you want to develop 2 coins at once?   Your effectively splitting your mining audience which is doubling your chance of a 51% attack.

1 more question.  For your charity coin.  Do 100% of all mined coins go to charity?  Or do 50% go to miners and 50% go to charity?   Or is it 50% to miners, 25% to you, and 25% to charity?

Sorry, I meant the philosophy of your charity coin being 100% for charity, while on the other hand it looked a lot like you were thinking about taking profits from the charity coin to help fund your other coin. 

2 words of advice for you. 

Don't name any coin catholic coin, or any other religion.  There are many people here who attack and kill coins just to "watch the world burn".  I wouldn't paint a target on my back for an attack, as I am sure they aren't the type to be hanging in church after they crush their latest coin. 

And second.  With ASIC's around, it is very dangerous to launch a new SHA-256 coin, as the ability for it to be attacked with an ASIC is pretty high.  And since the majority of the clone coins are Scrypt based, you won't be able to mine your own coin with your BFL ASIC miner.  I guess you could mine Bitcoins, and use them to purchase your coins.

Just a few questions because you're really bouncing around with your philosophy's. 

First off, how will you get the money to launch your own coin, off a coin that you deem to have 100% of profits going to charity???  Are you the charity the money will be going towards? 

Second.  Even if someone launches a coin for you, how are you going to take care of it with no programming skills/background.  How do you think you will gain people's trust in a coin that can easily be 51% attacked, because even if it did take off, people will know if they attack your coin, you will post an ad on here offering $30/hour to help you stop the attack.  That and the fact there should be constant watching / innovation going on.  How will you put in check points?  or anything else that you need to do as a coin dev?    Personally I hope you have luck trying, but I really think you should take the advice of others, and try to partner up with someone that has their own coin, but needs assistance getting it somewhere, or partner with a programmer and together launch a coin under the name of your choosing. 

There is to much to take care of if you really want to be a developer of a coin that will rise above the thousands of other coins out there, and I think you're getting in over your head especially with your goals. Slow down, don't expect to become the next Jobs or Gates.  Because they both have/had something you don't.  And thats a total understanding of their product. Plus it took not 1 but 2 Steve's to get Apple where it is today. 

This coin is "valuable" because it's actually not a regular clone Altcoin, but instead it is using it's hash power as a mathematical experiment to find prime numbers.  There is no Scrypt or SHA-256 running, so as of right now anyways, there is no mining software created, the only thing you can do is allow your wallet to CPU mine for you.

That and the developer is the same developer that created PPCoin which was the first coin to start using PoS instead of relying on PoW as a way to secure the blockchain.  

Since it sounds like your not a "developer" but wanting to make an exact clone, and wanting a premine or a % payout per coin mined, I will warn you now, your going to be looking at a very rough road for your coin, unless you can manage to do some pretty crazy things in terms of creating a lot of special services or getting a lot of big time companies onboard.  Not saying you won't make it.  But make sure you aren't easily offended, and start attacking people when you see a lot of bad comments on your Announcement post.  

I look forward to hearing what you will be doing to break away from the others.

OP = Original Post.  IE the one you made to start this thread.  

Just wondering.  Just from your wording about certain things.  Are you a programmer?  Or do you have much programming experience?  Or are you thinking about hiring someone to create the coin for you?

Since you are looking for innovation for your coin.  What ways are you things about innovating the coin?  Are you planning on doing more then changing the name of Litecoin to your name??  If that's all your doing, how much do you believe you should get for developing the coin?  Or are you talking more from the perspective of working/developing the coin to be better accepted in the Fait/banking world as a payment option?  

The reason your getting so much negativity is until you can show your different from the 99% of other developers, your categorized in the same group as the rest of them.  Many/most don't do enough to not deserve the answer that is leading in your poll.

Since it's your coin, the ball is really in your court.  Pay yourself as much or as little as you want.  Premine it as a developer fund if you feel like.  If you prove your worth it, people will put their trust in you and mine for your coin.

Ok, good to hear.  And yeah I doubt that wallet will ever move

Pretty sure I read that Satoshi pre-mined 800,000 Bitcoins.  They are still sitting in the same wallet.  I know a few people are watching that wallet to see if any ever get spent so they can try to figure out who he really is.  

I was just trying to show the OP (Who in the last 2-3 days has decided he was coming out with Catholic coin, Charity coin, Santa Coin, "please name me a popular sounding"coin) that he seems more worried about what the name is then the programming behind the coin.  Which to me looks like a huge sign that he is going to change 1-2 parameters from Litecoin, if that.  He might even be one of the latest developers that forgot to even change the name in the read me files to not say Litecoin.  Then he seems like he is ticked we don't want to pay him for all the hard work and developing.  

If he came showing innovation or some fresh ideas, I would be glad to give him the thumbs up on getting something for his troubles.

And nope we don't really "Need" more coins to come out just because.  We already seem to get 10 new ones a day, most will fail within a few weeks, and as miners keep getting more and more spread out, it will make it a lot easier for someone to come 51% piles of coins out of existence.  Already looking at Coinchoose, I see a few network hashrates that could be 51% attacked by someone with dual GPU's.  That's not good, it's scary.

I would have to say it would all be dependant on the coin, and what changes it brings to the table.  If the coin is like 99% of the other alt coins announced here, where the developer copies a coin, and maybe changes 1-2 parameters, then launches it, they don't deserve any more then the people mining the coin.  No additional bonuses.

If they truly bring something new and innovative to the table, then yes they probably deserve some sort of additional payout.  Only 4-5 coins in my mind stand out as truly innovative.  Bitcoin, Litecoin (To popularize Scrypt, I know it wasn't the first to use it), PPCoin (PoS), Novacoin??? Maybe  (LiteCoin/PPCoin hybrid).  Others that I am leaning towards are PrimeCoin (first to use hash power for scientific research) and eMunie (only because I don't quite understand what it is/how it works yet.)

I personally don't mind premined coins, when the coins are destined for things such as a coin mixing service, or as bonuses or prizes to get people onboard.  If a coin is truly successful, it would probably get a lot of donations.  Heck even this forum has enough donations/ads that they need people to hold funds.  I have seen a lot of development donation funds from some of the big and small coin developers.  

Lastly, the idea of giving a percentage of coins back to the developer.  For the most part, I will not mine a coin with that philosophy.  But for the most part it has to do with the developer, what they are doing, and what the donation is.  When I look at a coin like Zenith Coin, I shake my head.  Developer wants 50% of all coins mined, doesn't really seem to be doing much developing, and from what I could tell seemed like a troll of the forums.  Although I admit, it was confusing because for the longest time it seemed like 2 people both claimed to be the head developer of the coin.  Not sure if someone that was a dick tried to take it over by force or what was going on, but those 3 factors insured I would never mine that one.  If on the other hand someone had a 5% donation to developer, and they were actively developing/pushing to get businesses to use their coin, I would be all for it.  I would even consider a 25% donation if the developer really showed he was trying to get the coin to take off.  

I still maintain, the biggest easiest market for a coin to get some real value behind it would be to work out a deal with a Free to play (Microtransactions) payment option.  When I look at the games I play, there are usually 15+ ways you can pay for micro transactions.  If Cryptocurrency can't even push the idea into a business where they sell virtual merchandise with no risk to the vendor, then we should all give up on the idea a cryptocurrency would ever be used as a regular form of payment.  If a developer was seen to really be pushing/rallying some of the companies to accept their coin (in a billion dollar virtual industry), it would help the coin, and give value to paying them a % or good donation.  99% of the alt coins developers seem content with small gambling places, 1-2 sextoy stores and possibly a store or 2 selling Steam codes.  That's not the innovation I am looking for when I want to go all out for a currency.

They are more interested in paying off their huge loan than worrying about how much the coin might be worth one day.  You can't tell the bank "I'll pay you back in a few more years, when these things are worth a fortune."   You have to remember some people bought over $100,000 worth of equipment banking on it arriving soon and having an ROI of less than a month,  now they have sat on that $100,000 loan, and now finally have the means to get the banks off their butts, and possibly save their houses/cars ect they put  out against the loans.

The people that didn't spend more than they could afford, are probably sitting on their coins hoping for a return to the value.  The big question will be how low will it go, and how long will it take all these miners to pay off their equipment before things can get back to a normal flow.

Another big question, which I don't know.  Is ASICMiner selling their BTC right away to pay their shareholders?  If nothing else, one can assume they are converting quite a bit to Fiat to pay off their buildings and electricity bills.  This could be effecting the price as well.

If your looking for something that gets people with the name, then make the coin I have been wanting to mine.  "Itchy and Scratchy Coins"  Religion and Santa don't bring people the way a good show like the Simpsons does.  Plus it relates to something that already existed on TV.  Kind of similar to the Bottlecaps I am currently mining with the Fallout theme.

Wow, Thought it would have SETI application when I saw the name

Lol, actually the problem isn't that hard to figure out.  People have been taking out huge loans to fund their ASIC's.  Now that some of them have them in their hands, and they see the difficulty rising at insane levels many of them are cashing out all their coins as soon as they get them in hopes to pay off their investments.  The option of sitting on Bitcoins for the price to rise isn't an option for many people, especially those that have been paying their loan off for the past year or so while waiting for their year+ pre-orders to be sent. 

That's the problem.  All those other companies you mention are licensed, and follow strict gov't guidelines when it comes to anonymity to those transferring large amounts (Over $10,000).  There have been a few Bitcoin companies that went legit/are going legit, so you won't have any more problems using them legally then you would using PayPal.  But the Cryptocurrency users have been nailing these companies in the forums, and stop doing business with them as using them is "The reason they use Cryptocurrency in the first place for complete anonymity"  MtGox is I believe currently going down the route of going legit.  It's not hard to find posts on this forum nailing them for doing so.

Unlike Xbox points, you can take your Crypto coins and convert them back into Fiat.  This is the reason the US gov't has a target on everything crypto at the moment.  All Crypto currency is atm, is a means to digitally transmit Fiat.  It may in time grow to become something more.  Which is the main reason I am here, not to make money, but would be awesome to be in on something as it is coming out of creation.

And doesn't matter what country in the world you are in (aside from maybe North Korea).  Once they put the label that Crypto coins are being used by terrorists to transfer funds, they pretty much will attack cryptocurrencies in no matter what country you happen to be doing business.