Alt Coin N00b asking questions.

[Gleb Gamow]

First Question: Is this thread in the correct sub section to seek answers to questions pertaining to Alt Coins?

Second Question: Is it Alt Coin or AltCoin or some other? Seeking the proper terminology.

Safely assume I'm a seasoned Bitcoiner and that Gleb Gamow is not my real name.

Edit: I promise the questions will be more thought-provocative as time goes on.

EDIT: I'm putting this here for easy recovery: Always with the negative waves trolliarty.

I love that quote, just gleaned it from some other.

[Gleb Gamow]

I might as well ask more questions while waiting for replies.

Feather Coin – Feathercoin
Abbreviation: FTC
Algorithm: SCRYPT
Date Founded: 4/16/2013
Total Coins: 336 Million
Confirm Per Transaction:
Re-Target Time:
Block Time: 2.5 Minutes
Block Reward: 200 Coins
Diff Adjustment

Using the above alt as an example (honestly, not affiliated with this or any other alt coin), does the 200 coins reward half down the road like with Bitcoin's algorithm? If so, when? Four years? Number of blocks?

If a person wanted to create a whole series of themed alt coins with all having the exact same algorithm, would SCRYPT be the way to go?

Is having a 'Total Coins' count above 100M practical?

[digitalindustry]

ha ha - this is topic telling for a number of sociological reasons.

[Gleb Gamow]

ha ha - this is topic telling for a number of sociological reasons.

My questions are legit, if that's what you're somehow implying.

I've seen the media write Alt Coin and alt coin and alt-coin, among others, hence asking for clarity. Akin to us getting a hard-on when we see Bitcoin written as Bit Coin, et al, thus asking again, what's considered proper form?

Thank you in advance.

[Gleb Gamow]

Perhaps, I'm missing something, like maybe I should've paid membership dues somewhere to become a bona fide member of the alt-coin clan.

Who among the alt-coin community are considered an authority on the subject?

[digitalindustry]

Perhaps, I'm missing something, like maybe I should've paid membership dues somewhere to become a bona fide member of the alt-coin clan.

Who among the alt-coin community are considered an authority on the subject?

i'm not passing judgment - i'm simply observing ha ha.

come to the Quark Reddit and ask the same question - we will all help you if you want to learn about crypto. or haven you noticed this forum is almost exclusively for scams now, 6 to 8 months ago was a little different.

its great for the "search" function.

[balu2]

rule number one: don't believe a word you read here including my comment and the one above me. Do your own research.

[sadface]

First Question: Is this thread in the correct sub section to seek answers to questions pertaining to Alt Coins?

Second Question: Is it Alt Coin or AltCoin or some other? Seeking the proper terminology.

Safely assume I'm a seasoned Bitcoiner and that Gleb Gamow is not my real name.

Edit: I promise the questions will be more thought-provocative as time goes on.

correct section afaik, altcoin

I might as well ask more questions while waiting for replies.

Feather Coin – Feathercoin
Abbreviation: FTC
Algorithm: SCRYPT
Date Founded: 4/16/2013
Total Coins: 336 Million
Confirm Per Transaction:
Re-Target Time:
Block Time: 2.5 Minutes
Block Reward: 200 Coins
Diff Adjustment

Using the above alt as an example (honestly, not affiliated with this or any other alt coin), does the 200 coins reward half down the road like with Bitcoin's algorithm? If so, when? Four years? Number of blocks?

If a person wanted to create a whole series of themed alt coins with all having the exact same algorithm, would SCRYPT be the way to go?

Is having a 'Total Coins' count above 100M practical?

ftc is prolly halving at some point.

spare us new coins plz. if you have to x11 pos with a short pow period are currently hot afaik. maybe not for much longer.

rule number one: don't believe a word you read here including my comment and the one above me. Do your own research.

this, including my comment

[Gleb Gamow]

Is it possible for an new alt to start trading at one cent (US penny/$.01/1¢)?

[Willisius]

The most common spelling is "altcoin." As for the Feathercoin example, yes. Most proof-of-work coins - like BTC - have halving intervals measured in blocks. If you want to create a whole slew of meaningless altcoins, then yeah scrypt is a good way to go. A maximum coin supply over 100M has been done several times, and hasn't proven itself impractical. Dogecoin, for example, has 100 billion maximum coins, as well as built-in inflation which means even more coins. It is possible for a new coin to trade at any rate, one cent, five dollars, etc. Coins are worth whatever someone is willing to pay. Shitcoin developers tend to keep the block reward extremely low, like less than 50 per block, when they want the coin's market value to be high.

[TheMage]

First Question: Is this thread in the correct sub section to seek answers to questions pertaining to Alt Coins?

Second Question: Is it Alt Coin or AltCoin or some other? Seeking the proper terminology.

Safely assume I'm a seasoned Bitcoiner and that Gleb Gamow is not my real name.

Edit: I promise the questions will be more thought-provocative as time goes on.

Hi Gleb

AltCoin or simply "Alt" is the correct terminology.

I might as well ask more questions while waiting for replies.

Feather Coin – Feathercoin
Abbreviation: FTC
Algorithm: SCRYPT
Date Founded: 4/16/2013
Total Coins: 336 Million
Confirm Per Transaction:
Re-Target Time:
Block Time: 2.5 Minutes
Block Reward: 200 Coins
Diff Adjustment

Using the above alt as an example (honestly, not affiliated with this or any other alt coin), does the 200 coins reward half down the road like with Bitcoin's algorithm? If so, when? Four years? Number of blocks?

If a person wanted to create a whole series of themed alt coins with all having the exact same algorithm, would SCRYPT be the way to go?

Is having a 'Total Coins' count above 100M practical?

Unfortunately you would need to do research on the alt itself in order to determine when "halving day" would happen. In addition, even though there are a lot of the same types of coins (down to everything but the name), there are coins out there with either small or large differences. In Feathercoins case, I can not comment entirely because I am not involved with their community, but they seem to have been around for a while and from what I have heard they are a good group of folks. I do know that even though they are a Scrypt PoW, they have differences in how their halving works compared to Litecoin or dogecoin.

As for a new person to alts, I will state that there are many people here with an agenda (yes even myself, I am an avid Litecoin supporter). However with that said most people here are pretty cool, the trolls just scream louder .

[Gleb Gamow]

The most common spelling is "altcoin." As for the Feathercoin example, yes. Most proof-of-work coins - like BTC - have halving intervals measured in blocks. If you want to create a whole slew of meaningless altcoins, then yeah scrypt is a good way to go. A maximum coin supply over 100M has been done several times, and hasn't proven itself impractical. Dogecoin, for example, has 100 billion maximum coins, as well as built-in inflation which means even more coins. It is possible for a new coin to trade at any rate, one cent, five dollars, etc. Coins are worth whatever someone is willing to pay. Shitcoin developers tend to keep the block reward extremely low, like less than 50 per block, when they want the coin's market value to be high.

Now, this is informative, echoing the same sentiment for TheMage's post between yours and this one. Thanks to both you guys.

Is SCRYPT the way to go if the whole slew of altcoins aren't meaningless, i.e. back by formidable brands?

Of course I, too, desire to the various Altcoins to be successful, as do the brands backing each alt, but feel that the initial block reward should/could be 100 coins. Practical?

Filling in some variables using the same example to help illustrate what's in store:

Feather Coin – Feathercoin
Abbreviation/Ticker Symbol: Up to 6 characters, with no less than 2 with 3 minimum preferred.
Algorithm: SCRYPT (pending)
Date Founded: 4/16/2013
Total Coins: 336 Million 100 Million
Confirm Per Transaction: 4 sounds like a square number.
Re-Target Time: ?
Block Time: 5 Minutes
Block Reward: 100 Coins
Diff Adjustment: Toying with a hybrid based on the exchange rate.

[Willisius]

The most common spelling is "altcoin." As for the Feathercoin example, yes. Most proof-of-work coins - like BTC - have halving intervals measured in blocks. If you want to create a whole slew of meaningless altcoins, then yeah scrypt is a good way to go. A maximum coin supply over 100M has been done several times, and hasn't proven itself impractical. Dogecoin, for example, has 100 billion maximum coins, as well as built-in inflation which means even more coins. It is possible for a new coin to trade at any rate, one cent, five dollars, etc. Coins are worth whatever someone is willing to pay. Shitcoin developers tend to keep the block reward extremely low, like less than 50 per block, when they want the coin's market value to be high.

Now, this is informative, echoing the same sentiment for TheMage's post between yours and this one. Thanks to both you guys.

Is SCRYPT the way to go if the whole slew of altcoins aren't meaningless, i.e. back by formidable brands?

Of course I, too, desire to the various Altcoins to be successful, as do the brands backing each alt, but feel that the initial block reward should/could be 100 coins. Practical?

Filling in some variables using the same example to help illustrate what's in store:

Feather Coin – Feathercoin
Abbreviation/Ticker Symbol: Up to 6 characters, with no less than 2 with 3 minimum preferred.
Algorithm: SCRYPT (pending)
Date Founded: 4/16/2013
Total Coins: 336 Million 100 Million
Confirm Per Transaction: 4 sounds like a square number.
Re-Target Time: ?
Block Time: 5 Minutes
Block Reward: 100 Coins
Diff Adjustment: Toying with a hybrid based on the exchange rate.

There are no rules for abbreviations (or anything with coins). I suggested scrypt because there are powerful ASICs for it that can secure the blockchain without requiring a lot of miners. (A lot of miners mine shiny new coins that they can sell, but they stop mining as soon as a shinier, newer coin comes.) You could also use X11 or a meaningless higher number like X13. There are no ASICs for them yet, but it won't be hard to make them. Another option is proof-of-stake, which is currently popular in shitcoins. It doesn't require miners.

You can have block rewards start at 100. You can have them start at 10. Also difficulty re-target time is usually not required, instead coins use Kimoto Gravity Well or Dark Gravity Wave to adjust difficulty more efficiently. But I see you're planning something different for difficulty adjustment. You can save some time by forking Darkcoin; that's what most shitcoins are doing.