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Author Topic: The ultimate alt-coin  (Read 979 times)
iamrohitkgupta
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September 03, 2016, 06:39:58 PM
 #1

There have been lot of alt-coins already and as they're gaining more traction each day i'd like to know what everyone thinks is lacking in them.
I'd like to know about feature(s) you'd really appreciate in a new coin. Maybe a dev. can use all the information in this topic to create such a coin.
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September 03, 2016, 08:25:29 PM
 #2

You are going to create a coin?
It looks so.

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September 03, 2016, 09:17:44 PM
 #3

the only feature any altcoin needs is a compelling use case. and I don't mean airy fairy future bullshit promises of some company or tech feature that might one day come through. I mean something that's irresistible and 100% achievable right now. 

imagine if an alt was an integral component of a minecraft or WhatsApp or something similar. that's where a real moon shot would happen.

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September 05, 2016, 10:15:03 AM
 #4

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September 05, 2016, 03:59:50 PM
 #5

The ultimate alt-coin would be a solid implementation of MimbleWimble.
Even better if it has a memory-bound instantly-verifiable proof-of-work...
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September 05, 2016, 04:11:10 PM
 #6

There have been lot of alt-coins already and as they're gaining more traction each day i'd like to know what everyone thinks is lacking in them.
I'd like to know about feature(s) you'd really appreciate in a new coin. Maybe a dev. can use all the information in this topic to create such a coin.

the only thing lacking is massive adoption.... and to achieve that we will need more than features. it's hard to attract people to a new technology, specially the "elders"(not exactly related to age, there are young people out there pretty resistant to new things).

security will always need improvements too(but thats not a new feature, right?).

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September 05, 2016, 05:58:18 PM
 #7

Still say, that until Joe & Jane Public are able to use crypto currency/coins from a debit card that they can use at their favorite retail stores, not even bitcoin will see any major mass adoption.  I am not talking about a 3rd party processor such as VISA, but draws directly against their crypto wallet.dat files, just like a bank account debit card.

okie
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September 05, 2016, 06:15:18 PM
 #8

There have been lot of alt-coins already and as they're gaining more traction each day i'd like to know what everyone thinks is lacking in them.
I'd like to know about feature(s) you'd really appreciate in a new coin. Maybe a dev. can use all the information in this topic to create such a coin.

the only thing lacking is massive adoption.... and to achieve that we will need more than features. it's hard to attract people to a new technology, specially the "elders"(not exactly related to age, there are young people out there pretty resistant to new things).

security will always need improvements too(but thats not a new feature, right?).

Adoption will come eventually if the coin is good enough. Something like "bitcoin 2.0" (or just the regular bitcoin one) which can be integrated with something that's already widely adopted.

the only feature any altcoin needs is a compelling use case. and I don't mean airy fairy future bullshit promises of some company or tech feature that might one day come through. I mean something that's irresistible and 100% achievable right now.  

imagine if an alt was an integral component of a minecraft or WhatsApp or something similar. that's where a real moon shot would happen.

Although, we cannot say with certainty that it will be adopted as much as the product it's integral component of.

Still say, that until Joe & Jane Public are able to use crypto currency/coins from a debit card that they can use at their favorite retail stores, not even bitcoin will see any major mass adoption.  I am not talking about a 3rd party processor such as VISA, but draws directly against their crypto wallet.dat files, just like a bank account debit card.

okie

Hmm.. wallet.dat encrypted with a pin inside a debit card. Not sure if that can be implemented. But, why not use a lite web wallet like blockchain.info to send the coins to the shop QR? Aren't they both similar?(in magnitude of difficulty)
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September 05, 2016, 06:22:10 PM
 #9

All lack to have fair distribution of coins during launch, with ICO few whales and dev team themselves take control of large number of coins which will later cause market/price manupulation. Proper/fair distribution, adoption, security, real life application are few things good altcoin should have.



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September 05, 2016, 06:24:03 PM
 #10

A lot of coin dev can claim they theirs are the best but whats lacking mostly to these coins are the not greedy dev team and investors that don't dump.
Everyone dumps even when the value of each coin is just cents. These guys can't just wait til the coins get to have a stable higher value.

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September 05, 2016, 06:30:34 PM
 #11

Yay, let's add one more poop in the public toilet!

iamrohitkgupta
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September 05, 2016, 06:52:37 PM
 #12

All lack to have fair distribution of coins during launch, with ICO few whales and dev team themselves take control of large number of coins which will later cause market/price manupulation. Proper/fair distribution, adoption, security, real life application are few things good altcoin should have.
It's not as easy as it sounds. Imagine if you have a fair launch with no pre-mine whales would still buy in lot of coins cheap and manipulate price at a later stage creating havoc for the good users.
A lot of coin dev can claim they theirs are the best but whats lacking mostly to these coins are the not greedy dev team and investors that don't dump.
Everyone dumps even when the value of each coin is just cents. These guys can't just wait til the coins get to have a stable higher value.
They dump when they feel the time is right or when they're scared that others will dump before them. You see they're here to make money and money doesn't really grow on trees. In order to make money, these whale pump the coins moderately luring other small investors and when the price is high enough they dump it all and quit/repeat.
Yay, let's add one more poop in the public toilet!
Thanks for the name suggestion!
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September 06, 2016, 05:38:53 AM
 #13

Upon thinking for a while I realized that we already have the ultimate coin.(not alt though) And we don't need to make it easier for the Joe and Jane in order to fulfill the purpose. AFAIK, today all trades are done in $US which is a currency. All we need to do is replace dollars with bitcoins and voila!
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September 06, 2016, 06:16:20 AM
 #14

The ultimate alt-coin would be a solid implementation of MimbleWimble.
Even better if it has a memory-bound instantly-verifiable proof-of-work...

Is there a source for MimbleWimble yet? and can you explain what memory-bound instantly-verifiable proof-of-work is and if it has been used in a coin?

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September 06, 2016, 06:38:20 AM
 #15

Upon thinking for a while I realized that we already have the ultimate coin.(not alt though) And we don't need to make it easier for the Joe and Jane in order to fulfill the purpose. AFAIK, today all trades are done in $US which is a currency. All we need to do is replace dollars with bitcoins and voila!

BTC the ultimate coin,   Cheesy  Cheesy  Cheesy
You tell a funny joke.

BTC can not handle the transaction volume of even 1 major credit card provider much less the world.
BTC price is already too high to be usable for micro-payments.
China has had over 51% control over BTC for Months.

Alts are more efficient and more economical to actually send , BTC days are numbered.  Wink


 Cool
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September 06, 2016, 07:34:40 AM
 #16

So you are looking of the ultimate alt-coin
Here you go, UltimateCoin lol
https://bitcointalk.org/index.php?topic=1045266.0
lol
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September 06, 2016, 10:06:28 AM
 #17

Upon thinking for a while I realized that we already have the ultimate coin.(not alt though) And we don't need to make it easier for the Joe and Jane in order to fulfill the purpose. AFAIK, today all trades are done in $US which is a currency. All we need to do is replace dollars with bitcoins and voila!

BTC the ultimate coin,   Cheesy  Cheesy  Cheesy
You tell a funny joke.

BTC can not handle the transaction volume of even 1 major credit card provider much less the world.
BTC price is already too high to be usable for micro-payments.
China has had over 51% control over BTC for Months.

Alts are more efficient and more economical to actually send , BTC days are numbered.  Wink


 Cool

That's an interesting point. Litecoin used to be $25 each when bitcoin were $900. Now bitcoin is $600, but Litecoin is only $4. From my perspective I think it's a bargain. I think the flood of alts has braught it down, but they'll all die out (some of them already have) and Litecoin will be let standing. I think it'll stay the test of time. Dogecoin might be third best. I think this blockchain stuff is pure hype.
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September 06, 2016, 01:01:26 PM
 #18


Security, everyone overlooks security.


The Original Bitcoin Clone:  www.IXcoin.net
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September 06, 2016, 02:19:51 PM
 #19

The ultimate alt-coin would be a solid implementation of MimbleWimble.
Even better if it has a memory-bound instantly-verifiable proof-of-work...

Is there a source for MimbleWimble yet?

No; there is no implementation of MimbleWimble yet.
Just an outline of the basic cryptographic ideas at
http://diyhpl.us/~bryan/papers2/bitcoin/mimblewimble.txt

A number of Bitcoin Core developers have expressed keen interest though, as can be
seen in this interview transcript:

http://diyhpl.us/wiki/transcripts/mimblewimble-podcast/

It holds great promise in hugely advancing both anonymity and scalability.

Quote
and can you explain what memory-bound instantly-verifiable proof-of-work is and if it has been used in a coin?

A proof of work that, like bitcoin's, can be instantly verified with no memory use
(a very desirable property that's lost in Litecoin, Monero, Ethereum, and many others)
but for which mining requires hundreds of megabytes of memory.
The first attempt at such a PoW was Momentum, but it turns out to be broken, allowing
memory to be traded off against computation.
The other two are Cuckoo Cycle and Equihash, the latter of which will be used in the upcoming
Zcash. Cuckoo Cycle is unique in that mining reduces to reading and writing individual random
bits, as explained in

http://cryptorials.io/beyond-hashcash-proof-work-theres-mining-hashing

and as such can be indirectly useful in supporting the development of more energy efficient DRAM
technology.

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September 06, 2016, 02:24:50 PM
 #20


Security, everyone overlooks security.

You mean security of the blockchain against attacks or wallet /software security? Which coin do you think has very good security?

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