[Idea]Unnamed Coin - Feedback is appreciated

[xaznarrac]

Note: keep in mind this is just from the top of my head.

Nowadays, coins are made for profit. They don't even deserve to be in the top 10 lists. Just pumps n dumps that have fallen to oblivion. No on even remembers them.

Well, I have an idea for a coin that someone can do. Since my coding skills are bad   I would like to put it out there for someone with the knowledge to accomplish the task.

My idea is this:

Let's say we have alphabet amount of people mining this coin. Person A, let's call him "Big dog" is hashing at 35% of the total network.
Each block generates a total of 100 coins. He finds a block with his rig and gets all the coins. Others get angry and are disappointed they don't have the technology big dog has.

How can we solve this problem? By taxing him the amount he is hashing; ie 35%.

We get the 35 coins from the tax and distribute it equally among the people who are mining.
35/25 =  1.4 coins per miner. Their hashing rate would not matter at all.

How would this benefit everyone?

• It would limit the amount of hashing power someone would want to use to mine the coin.
• It doesn't matter if they are hashing with 1% or 0.5% of the total network, they will still get a piece of the pie.
• It would entice people into mining the coin with what little power they have.

I know what you all will be thinking, won't Big Dog be pissed he is getting taxed high?
Well, you better believe it. This coin will be easily accessible to everyone. It won't scare people away from trying to mine it.

The total supply should be high, like 1 billion or so the amount of blocks would be an even 10 million.
What algorithm? It should not be Scrypt or SHA-256 that's for sure. Something new and exciting!  
Other details can be whatever.

Pools:
Well, this coin will encourage more self-mining because pools seem too much like a monopoly for me. (IMO I dislike them.)


Now you guys can customize it to your liking. I hope my idea can spark some new innovative cryptocurrencies and developers can stop copying each other.  

[Shadow_Runner]

Big dog can divide his hashrate.

[ocminer]

No ok

[bathrobehero]

Big dog could just easily pretend he's 35 different persons all mining at 1% of the net hashrate to avoid the 'tax'.

[xaznarrac]

Big dog could just easily pretend he's 35 different persons all mining at 1% of the net hashrate to avoid the 'tax'.

How would he be able to split up into 35 people. I think he would be spending more money just to avoid a tax.

[GingerAle]

Big dog could just easily pretend he's 35 different persons all mining at 1% of the net hashrate to avoid the 'tax'.

How would he be able to split up into 35 people. I think he would be spending more money just to avoid a tax.

he would just mine to a new address.

IMO, I think the answer to this problem is egalitarian distribution. Just have to find a way to buffer the payment so you're not just generating dust each time. That way, everyone who is mining gets rewarded.

might disrupt the "rareness" of the coins though.

[xaznarrac]

Big dog could just easily pretend he's 35 different persons all mining at 1% of the net hashrate to avoid the 'tax'.

How would he be able to split up into 35 people. I think he would be spending more money just to avoid a tax.

he would just mine to a new address.

IMO, I think the answer to this problem is egalitarian distribution. Just have to find a way to buffer the payment so you're not just generating dust each time. That way, everyone who is mining gets rewarded.

might disrupt the "rareness" of the coins though.

If this is a problem of scarcity, then why not just make a coin that gives a random number of coins per block. Maybe between 1-100.

This coin won't fluctuate like the others, making it stable and easier for investors to get their money hungry hands on it.

[Taiga]

the idea is good, but you need to dorobatyvat′ theme

[bathrobehero]

Big dog could just easily pretend he's 35 different persons all mining at 1% of the net hashrate to avoid the 'tax'.

How would he be able to split up into 35 people. I think he would be spending more money just to avoid a tax.

Mining on different pools, or using more pool accounts, using different proxies, the possibilities are endless.

If this is a problem of scarcity, then why not just make a coin that gives a random number of coins per block. Maybe between 1-100.

This coin won't fluctuate like the others, making it stable and easier for investors to get their money hungry hands on it.

A random block reward between 1 and 100 is an average reward of 50 so that doesn't really change anything.

[hopped]

Doesn't a pool split up the coins you mine anyway so big dog if he had 35% of hashing in theory would only get 35% of the block he found

[locohammerhead]

how about everybody gets a percentage of each block.  So big dog A lets say he has 35% of the hashrate.  He gets 35% of the block the other 65% gets split up between everybody else on the network.  Wont help splitting up his hashrate as his payout is directly proportional to his hashrate percentage.

[Snail2]

Communism isn't a working idea. Why should I invest into mining gear if I can get money from the distributed taxes by just being there with some minimal hashing power.

[xaznarrac]

Communism isn't a working idea. Why should I invest into mining gear if I can get money from the distributed taxes by just being there with some minimal hashing power.

This coin will save energy and will encourage people to mine it.

[cakir]

Isn't this basically spreadcoin?
https://bitcointalk.org/index.php?topic=715435.0
Well, they say it's no pools but big dogs are mining it with gpu farms etc.

[xaznarrac]

Isn't this basically spreadcoin?
https://bitcointalk.org/index.php?topic=715435.0
Well, they say it's no pools but big dogs are mining it with gpu farms etc.

This is just an idea. try to spark some creativity in this forum.

[cakir]

Isn't this basically spreadcoin?
https://bitcointalk.org/index.php?topic=715435.0
Well, they say it's no pools but big dogs are mining it with gpu farms etc.

This is just an idea. try to spark some creativity in this forum.

You can not do it without centralized pools etc.
Beside spreadcoin similar idea was used before on minerals. What happened to it?

Big farms/ASICs?
Hashing power of each worker and/or IP will be limited to not more than 50 MH/s (see the poll) by limiting the number of shares that a worker can send to the pool per unit of time.

https://bitcointalk.org/index.php?topic=641057.0

[tokeweed]

Note: keep in mind this is just from the top of my head.

Nowadays, coins are made for profit. They don't even deserve to be in the top 10 lists. Just pumps n dumps that have fallen to oblivion. No on even remembers them.

Well, I have an idea for a coin that someone can do. Since my coding skills are bad   I would like to put it out there for someone with the knowledge to accomplish the task.

My idea is this:

Let's say we have alphabet amount of people mining this coin. Person A, let's call him "Big dog" is hashing at 35% of the total network.
Each block generates a total of 100 coins. He finds a block with his rig and gets all the coins. Others get angry and are disappointed they don't have the technology big dog has.

How can we solve this problem? By taxing him the amount he is hashing; ie 35%.

We get the 35 coins from the tax and distribute it equally among the people who are mining.
35/25 =  1.4 coins per miner. Their hashing rate would not matter at all.

How would this benefit everyone?

• It would limit the amount of hashing power someone would want to use to mine the coin.
• It doesn't matter if they are hashing with 1% or 0.5% of the total network, they will still get a piece of the pie.
• It would entice people into mining the coin with what little power they have.

I know what you all will be thinking, won't Big Dog be pissed he is getting taxed high?
Well, you better believe it. This coin will be easily accessible to everyone. It won't scare people away from trying to mine it.

The total supply should be high, like 1 billion or so the amount of blocks would be an even 10 million.
What algorithm? It should not be Scrypt or SHA-256 that's for sure. Something new and exciting!  
Other details can be whatever.

Pools:
Well, this coin will encourage more self-mining because pools seem too much like a monopoly for me. (IMO I dislike them.)


Now you guys can customize it to your liking. I hope my idea can spark some new innovative cryptocurrencies and developers can stop copying each other.  

Just go for it.

[bathrobehero]

Communism isn't a working idea. Why should I invest into mining gear if I can get money from the distributed taxes by just being there with some minimal hashing power.

Because in this case the price of a coin would highly depend on how many coin an average miner/user hold.

You can not do it without centralized pools etc.

Multiple pool accounts even if you need to use proxies would easily exploit that method. Besides, a lot of people turn away from a coin when they hear that anything about it is centralized.

This is just an idea. try to spark some creativity in this forum.

It's a great idea, I wondered a lot about how this could be done too but every solution is either too easy to exploit or too intrusive or centralized.