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1  Alternate cryptocurrencies / Altcoin Discussion / Re: Tell me I'm wrong: Does cryptokitties expose the weaknesses of ETH? on: December 07, 2017, 09:39:16 PM
Is Ethereum really slower than Bitcoin? I've just looked up number of pending transactions, ethereum has 22000-23000, bitcoin has +216000
2  Alternate cryptocurrencies / Altcoin Discussion / Re: Does such a coin exist ? (anti- pump and dump) on: September 23, 2017, 10:14:45 PM
@NiallW

Why not simply generate accounts so that whenever a transaction is made TO account, the overall supply increases by that many coins, and when coins are pulled FROM the account, the overall supply decreases by such an amount + the decay rate per account ?

I know that it is easier to say than to be done, but just hypothetically speaking.

The overall supply can be calculated by going trough a block-chain. The thing I am not certain about is how to make the supply be infinite and not finite like BTC (and at which point would the supply grow without a decay or burning?) - I have no idea.

not really sure I fully understand the example you've given there.

If you use economic theory, price is worked out using supply and demand so in theory, you can fix the market value of something by constantly adjusting the supply to always meet demand. You might be able to use formulae used for estimating velocity of money to create an algorithm for estimating exactly what the change in supply needs to be. Manipulating supply won't be perfect as you'd have to wait maybe a few weeks between the supply being adjusted and market forces reacting to it but it could give long term price stability.

You could also have the currency look up the sales value on exchanges and adjust the supply to push it's value towards the optimum but this relies on exchanges which means it can be indirectly manipulated by someone messing up the price on the exchange.

I think you'd have to have potentially infinite inflation when prices are too high and some mechanism that encourages saving when prices are too low, or a system that creates new coins when prices are too high and incentivizes users to destroy coins when prices are low, maybe something like have two currencies (coins and shares) where users can trade coins for shares but can't turn shares back into coins (so coins get taken out of circulation whenever shares are purchased = deflation) and then have a proof-of-stake system where users with the most shares can "win" and get paid in coins.
3  Alternate cryptocurrencies / Altcoin Discussion / Re: Does such a coin exist ? (anti- pump and dump) on: September 23, 2017, 05:08:26 PM
Hi, this is my first post in a forum. The reason why I have registered is to ask a question...  I hear a lot about the pumps and dumps and how much it hurts the coins.

This is just an idea, and I haven't thought of a full algorithm, but I could do it too, and make some simulations.
Would it be possible to create a coin that, after every transaction from account to account, it increases the amount of coins available on the market?  So for example, if I put 10mil dollars into a coin, I get an increase of the same amount. That way, the coin price would stay the same.  To ensure that the growth is steady, the new coins should have a decay rate so that price of a coin has a steady increase? This way, it would be possible to increase the value of a coin once the dump occurs, so it would force people to HODL onto their coins.


Just wondering, and would like to hear your opinions.



the problem with what you've proposed here is that whilst you can expand the supply of coins when demand goes up, you can't reduce the supply of coins when demand goes down (not to say supply can't be reduced, just what's been suggested here doesn't imply that it can).

I did once try running some calculations on a hypothetical coin that would delete coins used in transaction fees and use variable block rewards to keep volume at a fixed rate but the problem is that cryptocurrencies regularly go up or down 25% per week, so you'd have to reduce the supply of coins by a huge amount whenever demand drops. the only way this hypothetical currency would work is either have ridiculously high transaction fees or run the risk of constantly devaluing itself too much. Decreasing the value of each individual coin is fairly easy but increasing the value is much harder.

If you wanted a centralized currency that increases in value, you could copy tether (central exchange buys and sells coins at a fixed value) but use something like transaction fees to slowly reduce the supply and push the central exchange price up accordingly but this would only be as much increase in price as there is decrease in coins so higher transaction fees would be needed for higher growth in value.
4  Bitcoin / Development & Technical Discussion / Re: Could PoW mining be more decentralized by giving rewards for other tasks? on: July 30, 2017, 01:22:34 PM
There was a pretty cool concept called "Proof of Activity" that - as far as I know - was never fully implemented. It was also the inspiration for some early Proof of Stake algorithms.

You can read the concept in this whitepaper. You can see that there are some well-known names of the cryptocurrency community involved (like Charlie Lee).

Basically, the algorithm selects randomly a satoshi from all satoshis that are spendable (contained in UTXOs) at a given time, and looks if the owner of the satoshi is currently online (he must solve a small task to prove that) - if not, then he is not rewarded. That's also why the algorithm was called "Follow the Satoshi". People that own more Bitcoins, in this concept, have more chances to get selected, so it's actually a "proof of activity/stake hybrid".

Another coin that rewarded full nodes was Timekoin, but it had a completely different algorithm than Bitcoin.

This is an amazing whitepaper and IT DOES solve several of the problems that BTC faces today.  Any idea as to why this project did not manifest?  Any news regarding a potential revival?

It seems like their was a similar thing done to increase bitcoin nodes although it look like they stopped once they reach 10000 nodes. Link
Although it would be very useful for smaller altcoins as a way of spurring early growth in their networks.
5  Bitcoin / Development & Technical Discussion / Could PoW mining be more decentralized by giving rewards for other tasks? on: July 26, 2017, 01:46:19 PM
So for example, you could have rewards for solving blocks, but the also have another smaller reward that goes to anyone who is running a full node. this would create an incentive to people to keep their nodes runing even if their device has low hashpower

right now, im thinking about designing an altcoin that uses both PoW to mine and then uses something like PoS, where everytime a block gets enough confirmations to be added to the blockchain, one of the nodes that was online when the block was made, is picked at random and given a small reward (although nodes with higher stake would have better chance of winning). maybe it should be called "proof of node"? People mining this coin would get to choose between PoW, which requires hashpower, or PoN, which doesnt

are there any problems with this idea?

EDIT: changed incorrect terminology
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