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Author Topic: I wanna design a new crypt coin, what features should be included in ?  (Read 3327 times)
dolfcao (OP)
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April 29, 2013, 02:29:44 AM
 #41

http://en.m.wikipedia.org/wiki/SHA-3. Use one of these (a fast and likely candidate), these are being designed to replace the sha2 hashing bitcoin is currently using to prepare for the possible likelihood that sha-2 has a critical vulnerability in the moderate future timeframe.  Also consider a 512 bit variant up from currently used 256 bit.

I think the FSB algorithm is a good one, http://en.wikipedia.org/wiki/Fast_Syndrome_Based_Hash#Description_of_the_hash_function

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dolfcao (OP)
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April 29, 2013, 02:32:28 AM
 #42

Do you want to create a Coin which is infinite and you can create it with no limits (inflation), which has borrow and lend support (banks)?

Man, we already have that since a long, long time ago, and that is the reason why BitCoin exist...


I don't think so, it's not me who can create the coins with no limits, it's the network, and I hate premine coins, borrow and lend support in anonymous is really hard to implement in p2p network, but anonymous borrow and lend is really a good feature.

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Etlase2
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April 29, 2013, 02:46:29 AM
 #43

your analysis is really valuable, the transaction fees will be 1/10000 in a fixed ratio after 100 transactions per user per day, do you think this is acceptable?

You can't keep track of users, this will be very intolerant of sybil attacks.

dolfcao (OP)
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April 29, 2013, 02:49:19 AM
 #44

no, I mean every client or every wallet, not every true person.

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Twerka
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April 29, 2013, 02:54:25 AM
 #45

I don't think so, it's not me who can create the coins with no limits, it's the network,

Doesn't matter who create the coin, no limit = inflation.

The worst enemy of Bitcoin is Mt.Gox exchange.
dolfcao (OP)
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April 29, 2013, 03:06:01 AM
 #46

I don't think so, it's not me who can create the coins with no limits, it's the network,

Doesn't matter who create the coin, no limit = inflation.

I don't think so, think about the real world, and at last, the money will be more and more difficult to generate.

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Explodicle
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April 29, 2013, 06:53:45 PM
 #47

In the long run, a stable nonzero subsidy means its relative %-of-total-supply decreases.

Would subsidy eventually be outpaced by growth, then the coin starts deflating?
Would subsidy eventually become insignificant compared to transaction fees?
Would lost coins cause the circulating supply to converge?
psybits
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April 29, 2013, 07:30:17 PM
 #48

Enable merge mining that also supports projects like SETI@home and other BOINC projects like helping find a cure for cancer.

Integrate this with the GUI of your coin so that miner can drag and select a percentage of their hashing power to contribute to the BOINC network (from 0% to 100%).

Do it  Wink
milkman1
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May 04, 2013, 09:08:30 PM
 #49

I wanna design a new crypt coin(based on or similar to btc or ltc), what features do u guys think should be included in this new coin?
Right now I think these little features should be included in the new coin:
1. no limit to the total amount of the coin, it's hard to generate as time goes by (similar to the real world);
2. transaction fees controlled to under 0.001% of total transaction, or maybe transaction fees is 0;
3. support borrow and lend coins (should pay transaction fees and interest fees);
4. at first, every block include no less than 1024 coins, every 10 years this goes half down, until after 50 years the coins in a block come to a stable number: 32.

I wanna implement the money liquidity and credit extensibility in this new coin like real money, and keep the good features that p2p bring to the coin.

Do you guys have any advice, please give me some advice.


you should call it India Coin  INC
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