Starting a new Coin

[chateaux]

Hi All,

I am part of a small community that is keen to learn about crypto through the process of creating our own currency and I have some questions.

But first:
1. Our goal is not to make $$
2. Our goal is to learn & experiment

Our strategy:
1. We have decided to fork LiteCoin and follow SuperKings post here: https://bitcointalk.org/index.php?topic=1278734.0 (as a general starting point).
2. The wallet we create will be made available to an established local community with the aim of teaching them about crypto (10,000 members).

Questions about LiteCoin:
1. What features can be removed that are still in Litecoin, for legacy compatibility reasons, but can be nuked in a brand new coin?
2. Is there any reason to keep P2PK and P2SH if we have access to P2SWH?

Thanks for your time in advance!

[1714505872]

1714505872

[1714505872]

1714505872

[1714505872]

1714505872

[1714505872]

1714505872

[Arcteryx]

So you want to cause a hard fork to make your new coin more valuable at the sake of litecoin's survival?
How is that helping the crypto community again? 

[btcmerich]

Hi All,

I am part of a small community that is keen to learn about crypto through the process of creating our own currency and I have some questions.

But first:
1. Our goal is not to make $$
2. Our goal is to learn & experiment

Our strategy:
1. We have decided to fork LiteCoin and follow SuperKings post here: https://bitcointalk.org/index.php?topic=1278734.0 (as a general starting point).
2. The wallet we create will be made available to an established local community with the aim of teaching them about crypto (10,000 members).

Questions about LiteCoin:
1. What features can be removed that are still in Litecoin, for legacy compatibility reasons, but can be nuked in a brand new coin?
2. Is there any reason to keep P2PK and P2SH if we have access to P2SWH?

Thanks for your time in advance!

by fork you mean copy , right?  for forking you need network support etc

and just to copy existing coin is just not the way to go if you want to help crypto community.   Bring something new to the table and do it from scratch . it would also be better for your learning experience that seems to be important to you

[chateaux]

Keep your diapers on...

1. We want to FORK the code
2. We want to start our own NETWORK from scratch

Our intention is to experiment with our own network and to be free to develop our own tools on a trial and error basis...

LiteCoin basically forked BitCoin...

Now that this is out the way, would appreciate some practical feedback.

[btcmerich]

ok keyboard warrior. I suggest you start with learning what fork is before you think about doing you own coin.

[chateaux]

The word "Fork" clearly is a touchy subject in light of recent developments

I got a clone working today, simple enough.

Thanks for the input.

[btcmerich]

The word "Fork" clearly is a touchy subject in light of recent developments

I got a clone working today, simple enough.

Thanks for the input.

there you go , a clone.  good luck with your project

[nemgun]

You won't go really far with this guide because it is based on an old version of litecoin, maybe if you show enough good will, some one will teach you how to do it with a newer code. But i don't think, people have enough of shitcoins and pump/dump coins.

But if you want to do this for teaching only, the old version of litecoin is fine, but it won't be appliable to newer versions.

You can also clone annother coin, like LISK, it is made in javascript so it won't be that hard to fork, and can easily be walked.

[JasonXG]

Guys what does fork mean ? I here mostly its a negative thing. I think it is when the currency goes off coarse and start another blockchain or something ? I haven't found any thread explaining it.

[contraband]

So you members are going to be mining?

[chateaux]

Fork means two things:

1. Fork of the BlockChain... i.e. when someone screws up (think Ethereum) and even BitCoin in the very early days - you may do what is known as a "hard fork" of the blockchain (miners all agree to mine a specific fork).
2. Fork on git - i.e. you grab a fork of the BitCoin or LiteCoin code and you add your magic to it... then push back to the community (this is pretty much what we plan to do)

In terms of 1 above, everyone is allowed a mulligan according to Andreas Antonopoulos who came to speak to our group a week or two back and I agree with him.