Want to make an alt coin that actually changes something?

[🏰 TradeFortress 🏰]

If you have decent knowledge of the bitcoind codebase and would be interested in working on a alt coin that has some interesting changes, send me a PM.

EDIT: Please only PM if you have a decent knowledge of the Bitcoin code base!

[1713629130]

1713629130

[1713629130]

1713629130

[1713629130]

1713629130

[c4n10]

If you have decent knowledge of the bitcoind codebase and would be interested in working on a alt coin that has some interesting changes, send me a PM.

Hello   

What have you got in mind...? I have been looking for an excuse to fork a coin, lol...

[🏰 TradeFortress 🏰]

If you have decent knowledge of the bitcoind codebase and would be interested in working on a alt coin that has some interesting changes, send me a PM.

Hello   

What have you got in mind...? I have been looking for an excuse to fork a coin, lol...

PM'd.

[FuzzyBear]

I'm always interested to see what people are interested in doing for altcoins especially if they offer something different, let me know ur thoughts

[crazy_rabbit]

I am always up for Alt Coins.

[FuzzyBear]

hehe us middleweight adopters all group together

[BBQKorv]

Yes, but do we have any actually new ideas or goals in mind?

I'm most likely in anyways.

[wizzardTim]

Me 2.

[tacotime]

I've had something in mind for a while, just need people with the time to code.  I can write the technical specifications and the pseudocode algorithms.

[dreamwatcher]

I had some ideas about a true CPU friendly- GPU hardened coin that would adjust as both hash rate and GPU technology evolved.

It involves using a radically different type of difficulty adjustment system that I do not believe has been seen before.

However, that project has moved way down on the list in light of the number of Alt-coins that have come online lately.

When a few of these coins naturally evolve out of use, or I ever get caught up on projects       , I will go back and continue to work on that code.

[CryptoJunky]

I'd be interested in helping out and have been doing a bit of research on the topic recently.

[sangaman]

I am also interested in would like to discuss ideas, have been thinking about this for a while. I'm still waiting for what I consider to be an "ideal" cryptocurrency to evolve, something that's relatively light-weight and scalable but also can secure the blockchain efficiently and inexpensively. I think ppcoin might be the closest thing to this now, but ppcoin has a handful of shortcomings and potential concerns in my opinion.

[FuzzyBear]

Personally I think it would be prudent to look into different hashing algorithms.... once ASIC out for SHA256, LTC price rising.. only matter of time... what are the other algorithm options that could be considered??

[dreamwatcher]

Dammit.....

Now you have me thinking about it again.

..must resist...must resist..bringing another project up the list....  

I need some sleep..I just pulled an another all nighter working with the c code in pushpool ,writing and trying to integrate python modules into pushpool and working on a new pool front end.

[maxmint]

Would be interested too. Would love to see how a coin starts from the beginning.

[FortPotato]

I have an idea or two as well. I thought about just working on a new coin with a few of my friends, but this seems like a better route.

[hathmill]

I have an idea, dont know if its good or not but anyways: what if somehow all miners benefited from all minimg so that the protocol im essence forced everyone into becoming one unified pool. My idea is that the freshly minted coins would be attributed to everyone that was participating with minimg at that time. Just as today wherw you wait for confirmation of your transactions, the mining bounty would be worked out over time so to speak. Ie the protocol itself serves as the mechanism spreading the mining bounty to all participants. If we got sometying like this, then perhaps we would be able to get around some of the concerns one might have regarding centralized big pools. Ie lets make a protocol that makes everybody mining part of the "global poool".

[bushstar]

There are quite a few things to discuss. We need somewhere to throw ideas around. If there is serious intent behind this I could put up an ad free phpBB forum or something similar for discussions.

Give me some psuedocode and I'll try my hand at implementing it

[tacotime]

There are quite a few things to discuss. We need somewhere to throw ideas around. If there is serious intent behind this I could put up an ad free phpBB forum or something similar for discussions.

Give me some psuedocode and I'll try my hand at implementing it

Okay, I'll give a shot at writing up the technical paper this weekend.

[Arcurus]

+1
Yea I'm allways interested in Alt Coins a alt coins with interesting changes

[nwbitcoin]

If this is a plan to make an alt coin that is about improving the end result, rather than being an early adopter of yet another coin, then I will help in which ever way I can.

This is how it should be!

[Arcurus]

If this is a plan to make an alt coin that is about improving the end result, rather than being an early adopter of yet another coin, then I will help in which ever way I can.

This is how it should be!

Yea I have such a plan in my mind:)

There is a plan in my mind to create an altcoin which main goal is to distribute the new created coins in an as fair as possible way.

(For example one human one coin per day)
I know that’s not an easy task to design such an decentralized currency, and I know that we can’t start with 7 Billion humans at once, but hey, we are “Nerds” and who if not we can find a way to make this real?


For example: Imagine we start with a list of 100 humans. The old list is replaced if the new list gets double the votes than the old list. Voting with transactions can be realized in an simple an decentralized way. The more humans will join on this list the more it will get decentralized.

Perhaps it’s also thinkable to use this in the long run to secure the network itself. Imagine the ripple consensus algorithm combined with this list of humans, so you always would know how many on this list are agreeing on the current ledger.

[chriswen]

Yup, its a great time to start a solid alt coin!

Also, I think it's time someone made another NVC.  PoW + PoS + Scrypt + No Premine.  That would be awesome.


And I'm sure there might be better alt coin ideas too.


Hmmm, new algorithms, interesting.

[KrLos]

I'm in! count with me!

[RoadTrain]

Is there a thread where people propose ideas on possible improvements?
Like a collective brainstorm. Point me please if you know.

[nwbitcoin]

If this is a plan to make an alt coin that is about improving the end result, rather than being an early adopter of yet another coin, then I will help in which ever way I can.

This is how it should be!

Yea I have such a plan in my mind:)

There is a plan in my mind to create an altcoin which main goal is to distribute the new created coins in an as fair as possible way.

(For example one human one coin per day)
I know that’s not an easy task to design such an decentralized currency, and I know that we can’t start with 7 Billion humans at once, but hey, we are “Nerds” and who if not we can find a way to make this real?


For example: Imagine we start with a list of 100 humans. The old list is replaced if the new list gets double the votes than the old list. Voting with transactions can be realized in an simple an decentralized way. The more humans will join on this list the more it will get decentralized.

Perhaps it’s also thinkable to use this in the long run to secure the network itself. Imagine the ripple consensus algorithm combined with this list of humans, so you always would know how many on this list are agreeing on the current ledger.

I can understand the ideology of wanting to be fair and sharing and the like, but the whole idea is so insane, it will not work.

Human nature is such that if you give something to them, they will not value it (sentimentality aside)- however, show them someone else with that item, and they will want it - its no different to dogs and bones!

Its often said that if you were to share all the money of the world equally, within a week, it would be back in the hands of the people who have it now!   Some people like to spend, some people like to save, and some like to work and save because they don't have the time to spend!

In my mind, an altcoin needs to be technically good enough to not require any kind of ideologue to make it work. Confirmation within a few seconds would be a good start, huge circulation to encourage spending rather than hoarding,  and maybe an easy way to buy it with other methods.

Oh, and a name that doesn't suggest its a son of son of Bitcoin!

[Arcurus]

I can understand the ideology of wanting to be fair and sharing and the like, but the whole idea is so insane, it will not work.

Yea I like insane ideas
But its's so insane that it can work!

Its often said that if you were to share all the money of the world equally, within a week, it would be back in the hands of the people who have it now!   Some people like to spend, some people like to save, and some like to work and save because they don't have the time to spend!

That's totally perfect, some people want to hold their coins, some want to spend. people can hord it if they want, but the algorithm of this altcoin insures, that in the long run at least 1-2% per year of the coins is newly generated and distributed to all participants in an as fair and as decentralized way as possible.

So people can buy goods with it, hord it, make a loan on it, or just dump it to zero. That's real freedom.
 

In my mind, an altcoin needs to be technically good enough to not require any kind of ideologue to make it work. Confirmation within a few seconds would be a good start, huge circulation to encourage spending rather than hoarding,  and maybe an easy way to buy it with other methods.

Hmmm confirmations in few seconds woud be sooner or later be possible in bitcoin (for example by using green adresses) also ripples consensus seems to be very fast if it is functioning.
Huge circulation sounds like freicoin, but just dumping 5% to energy enterprises dos not sound very promising to improve coin circulation.

Oh, and a name that doesn't suggest its a son of son of Bitcoin!

I fully agree!

P.s.: Also bitcoin has an ideology behind it. Nearly everything has an ideology behind it, I see nothing wrong in this.

[breel]

I'm interested in this too (as BTC fan and as a pro dev)

[sangaman]

If this is a plan to make an alt coin that is about improving the end result, rather than being an early adopter of yet another coin, then I will help in which ever way I can.

This is how it should be!

+1 well said.

[cambda]

I could help with coding/testing if you have in mind fixing Bitcoin problems:

-be able to scale to CC usage numbers
-hashing algorythm energy effecient or partially able to use for usefull computation
-fixed yearly inflation forever to encourage spending economy

[sangaman]

I'm a software developer as well, but haven't worked directly with the nitty gritty of cryptocoins.

I've thought about ways that you could distribute coins fairly to users at the beginning, and I don't think a X coins per person plan is feasible at all. My best guess now is that a POW system that favors average consumer computers is the best way to distribute coins, with rewards that decrease slowly and steadily over time.

Is there anyway to choose an unspent input in the blockchain randomly and transparently? I've wondered if it would be possible to do this and weight unspent inputs by coin-age and choose one randomly using a previously agreed upon value as a seed. If an unspent input gets chosen, the owner of that input has the ability to create a new block and sign it with the private key that received the chosen input (but only if the owner is online and connected to the network) and receive a reward. If the owner of the input is not online, a new unspent input is chosen.

This system (or something like it) would be a proof-of-stake system where no user can unilaterally increase their chances of creating a POS block or could burn up a lot of coin age in a short period of time to make several blocks in a row. The chance for an online user to make the next block would always be equal to [user's total coin-age] / [total coin-age that is online].

I haven't gotten the time yet to really look through the bitcoin or ppcoin code to see how nodes verify that a blockchain satisfies the protocol or how easily they can read from unspent inputs. The above might not be possible at all but it was something that came to mind, if this makes sense to anyone please share your thoughts.

[melvster]

If this is a plan to make an alt coin that is about improving the end result, rather than being an early adopter of yet another coin, then I will help in which ever way I can.

This is how it should be!

Yea I have such a plan in my mind:)

There is a plan in my mind to create an altcoin which main goal is to distribute the new created coins in an as fair as possible way.

(For example one human one coin per day)
I know that’s not an easy task to design such an decentralized currency, and I know that we can’t start with 7 Billion humans at once, but hey, we are “Nerds” and who if not we can find a way to make this real?


For example: Imagine we start with a list of 100 humans. The old list is replaced if the new list gets double the votes than the old list. Voting with transactions can be realized in an simple an decentralized way. The more humans will join on this list the more it will get decentralized.

Perhaps it’s also thinkable to use this in the long run to secure the network itself. Imagine the ripple consensus algorithm combined with this list of humans, so you always would know how many on this list are agreeing on the current ledger.

Love this idea ...

[melvster]

Personally I think it would be prudent to look into different hashing algorithms.... once ASIC out for SHA256, LTC price rising.. only matter of time... what are the other algorithm options that could be considered??

What about SHA3

http://en.wikipedia.org/wiki/SHA-3

When it's finalized ...

http://www.nist.gov/itl/csd/sha-100212.cfm

[mebezac]

Also, I think it's time someone made another NVC.  PoW + PoS + Scrypt + No Premine.  That would be awesome.

That would be really awesome if someone did that

[🏰 TradeFortress 🏰]

Yes, but do we have any actually new ideas or goals in mind?

I'm most likely in anyways.

Much needed improvements to Bitcoin + unique change.

[maxmint]

Yes, but do we have any actually new ideas or goals in mind?

I'm most likely in anyways.

Much needed improvements to Bitcoin + unique change.

We would need to agree on what these improvements are. Currently it seems, everyone in this thread is excited but has a different concept in mind.

[tacotime]

Yes, but do we have any actually new ideas or goals in mind?

I'm most likely in anyways.

Much needed improvements to Bitcoin + unique change.

We would need to agree on what these improvements are. Currently it seems, everyone in this thread is excited but has a different concept in mind.

I will try to publish a paper within the next few days -- I suggest other persons generate technical papers and specifications as well.

[🏰 TradeFortress 🏰]

I'm a software developer as well, but haven't worked directly with the nitty gritty of cryptocoins.

I've thought about ways that you could distribute coins fairly to users at the beginning, and I don't think a X coins per person plan is feasible at all. My best guess now is that a POW system that favors average consumer computers is the best way to distribute coins, with rewards that decrease slowly and steadily over time.

Is there anyway to choose an unspent input in the blockchain randomly and transparently? I've wondered if it would be possible to do this and weight unspent inputs by coin-age and choose one randomly using a previously agreed upon value as a seed. If an unspent input gets chosen, the owner of that input has the ability to create a new block and sign it with the private key that received the chosen input (but only if the owner is online and connected to the network) and receive a reward. If the owner of the input is not online, a new unspent input is chosen.

This system (or something like it) would be a proof-of-stake system where no user can unilaterally increase their chances of creating a POS block or could burn up a lot of coin age in a short period of time to make several blocks in a row. The chance for an online user to make the next block would always be equal to [user's total coin-age] / [total coin-age that is online].

I haven't gotten the time yet to really look through the bitcoin or ppcoin code to see how nodes verify that a blockchain satisfies the protocol or how easily they can read from unspent inputs. The above might not be possible at all but it was something that came to mind, if this makes sense to anyone please share your thoughts.

Yes, a PRNG would work, however this encourages people to have unspent outputs which will bloat the blockchain.

Also, should ideally allow it to generate a block in the next 24 hrs - so people who have normal computers instead of a 24x7 box would not be at an disadvantage.

[wtfvanity]

I had some ideas about a true CPU friendly- GPU hardened coin that would adjust as both hash rate and GPU technology evolved.

It involves using a radically different type of difficulty adjustment system that I do not believe has been seen before.

CPU friendly, so the large botnets can easily attack it, right?

[rupy]

I would like to make an altcoin for all those FPGA's out there. = with a modular hashing algo.

Unfortunately I'm only versed in Java.

Another feature that I would like to highlight is blockchain delete of obsolete transactions to save disc space and be able to match Visa cards transaction rates in a P2P system.

[KrLos]

I think.

1. No CPU friendly, for keep botnets away.
2. Only GPU Friendly, not FPGA nor ASIC.

or a duble parameter.

GPU + CPU = SHA(xxx)+sCrypt(x) ? so this way only "personal pc's" can mine. (and tons of good pc's)

well, maybe i'm telling a dumbass thing but might work.

[nwbitcoin]

That's totally perfect, some people want to hold their coins, some want to spend. people can hord it if they want, but the algorithm of this altcoin insures, that in the long run at least 1-2% per year of the coins is newly generated and distributed to all participants in an as fair and as decentralized way as possible.

So people can buy goods with it, hord it, make a loan on it, or just dump it to zero. That's real freedom.
 

OK, we are sort of on the same wavelength, if you want to share to all participants, how about a tax on miner fees of a percentage e.g. 1% that gets paid into all wallets once a year?

At least the rules are easy to implement and understand, and it would explain where the money is coming from.

Working the practical details, it would pay a figure into every individual wallet which had been used in the previous year.  Obviously, some people would game it so they would use a new wallet for every transaction, but that's the nature of socialism - it encourages people to cheat the system for their own benefit!

But, in all seriousness, using that method, you would get a fairer method of wealth distribution in an algorithm.

Feedback?

[sangaman]

I'm a software developer as well, but haven't worked directly with the nitty gritty of cryptocoins.

I've thought about ways that you could distribute coins fairly to users at the beginning, and I don't think a X coins per person plan is feasible at all. My best guess now is that a POW system that favors average consumer computers is the best way to distribute coins, with rewards that decrease slowly and steadily over time.

Is there anyway to choose an unspent input in the blockchain randomly and transparently? I've wondered if it would be possible to do this and weight unspent inputs by coin-age and choose one randomly using a previously agreed upon value as a seed. If an unspent input gets chosen, the owner of that input has the ability to create a new block and sign it with the private key that received the chosen input (but only if the owner is online and connected to the network) and receive a reward. If the owner of the input is not online, a new unspent input is chosen.

This system (or something like it) would be a proof-of-stake system where no user can unilaterally increase their chances of creating a POS block or could burn up a lot of coin age in a short period of time to make several blocks in a row. The chance for an online user to make the next block would always be equal to [user's total coin-age] / [total coin-age that is online].

I haven't gotten the time yet to really look through the bitcoin or ppcoin code to see how nodes verify that a blockchain satisfies the protocol or how easily they can read from unspent inputs. The above might not be possible at all but it was something that came to mind, if this makes sense to anyone please share your thoughts.

Yes, a PRNG would work, however this encourages people to have unspent outputs which will bloat the blockchain.

Also, should ideally allow it to generate a block in the next 24 hrs - so people who have normal computers instead of a 24x7 box would not be at an disadvantage.

That wouldn't be the case if unspent outputs were appropriately weighted according to coin age. Having 100 inputs of .01 would be no more likely to generate a POS block than a single input of 1.00.

I don't see how offline block generation would be possible though, since there needs to be an active node that signs the block with the private key.

[chriswen]

I'm a software developer as well, but haven't worked directly with the nitty gritty of cryptocoins.

I've thought about ways that you could distribute coins fairly to users at the beginning, and I don't think a X coins per person plan is feasible at all. My best guess now is that a POW system that favors average consumer computers is the best way to distribute coins, with rewards that decrease slowly and steadily over time.

Is there anyway to choose an unspent input in the blockchain randomly and transparently? I've wondered if it would be possible to do this and weight unspent inputs by coin-age and choose one randomly using a previously agreed upon value as a seed. If an unspent input gets chosen, the owner of that input has the ability to create a new block and sign it with the private key that received the chosen input (but only if the owner is online and connected to the network) and receive a reward. If the owner of the input is not online, a new unspent input is chosen.

This system (or something like it) would be a proof-of-stake system where no user can unilaterally increase their chances of creating a POS block or could burn up a lot of coin age in a short period of time to make several blocks in a row. The chance for an online user to make the next block would always be equal to [user's total coin-age] / [total coin-age that is online].

I haven't gotten the time yet to really look through the bitcoin or ppcoin code to see how nodes verify that a blockchain satisfies the protocol or how easily they can read from unspent inputs. The above might not be possible at all but it was something that came to mind, if this makes sense to anyone please share your thoughts.

Yes, a PRNG would work, however this encourages people to have unspent outputs which will bloat the blockchain.

Also, should ideally allow it to generate a block in the next 24 hrs - so people who have normal computers instead of a 24x7 box would not be at an disadvantage.

That wouldn't be the case if unspent outputs were appropriately weighted according to coin age. Having 100 inputs of .01 would be no more likely to generate a POS block than a single input of 1.00.

I don't see how offline block generation would be possible though, since there needs to be an active node that signs the block with the private key.

He said offline wouldn't work.  If they were offline the lottery rolls again.  Maybe something like timekoin system could be implemented?

[chriswen]

That's totally perfect, some people want to hold their coins, some want to spend. people can hord it if they want, but the algorithm of this altcoin insures, that in the long run at least 1-2% per year of the coins is newly generated and distributed to all participants in an as fair and as decentralized way as possible.

So people can buy goods with it, hord it, make a loan on it, or just dump it to zero. That's real freedom.
 

OK, we are sort of on the same wavelength, if you want to share to all participants, how about a tax on miner fees of a percentage e.g. 1% that gets paid into all wallets once a year?

At least the rules are easy to implement and understand, and it would explain where the money is coming from.

Working the practical details, it would pay a figure into every individual wallet which had been used in the previous year.  Obviously, some people would game it so they would use a new wallet for every transaction, but that's the nature of socialism - it encourages people to cheat the system for their own benefit!

But, in all seriousness, using that method, you would get a fairer method of wealth distribution in an algorithm.

Feedback?

If 1% is given to everyone.  Think about it like ripple.  Destroying it would give the same increase in buying power to everyone.  And then that's just demurrage.

[BBQKorv]

I had some ideas about a true CPU friendly- GPU hardened coin that would adjust as both hash rate and GPU technology evolved.

It involves using a radically different type of difficulty adjustment system that I do not believe has been seen before.

CPU friendly, so the large botnets can easily attack it, right?

If it's requiring the very latest CPU extensions those botnets with usually lowspec hardware and outdated CPUs won't do much.

Pure CPU coin would be nice, and being highly RAM intensive could be nice too.

Of course this brings the question if there is enough people with the latest high-end CPUs and plenty of RAM (8GB or 16GB and up) to support that kind of coin.

[Vladimir]

I think.

1. No CPU friendly, for keep botnets away.
2. Only GPU Friendly, not FPGA nor ASIC.

or a duble parameter.

GPU + CPU = SHA(xxx)+sCrypt(x) ? so this way only "personal pc's" can mine. (and tons of good pc's)

well, maybe i'm telling a dumbass thing but might work.

Yep good start. Something like
Sha256(nonce+Sha512(nonce+Tiger(nonce+Whirpool(nonce+GOST(nonce+scrypt(nonce+bcrypt(nonce+data)))))) perhaps?

or some proof of work based on HDD space as one guy proposed elsewhere

[Mageant]

How about my idea of "ColoredCoin"?
https://bitcointalk.org/index.php?topic=166920.0

[Anon136]

i have an idea for how you could set yourself apart that may actually be a legitimately useful innovation. instead of relying on one algo for proof of work use a bunch of them. 10 20 maybe even 30 different algorithms. This would almost entirely eliminate the idea of any sort of specialized hardware like asics being developed which would cause this coin to be radically decentralized even compared to bitcoin. You could simply cycle through the list 1 at a time and when you get to the end start back at the beginning.

[SaltySpitoon]

I would also be on board with a new type of coin, I couldn't help much software dev wise, but I am rather good at coming up with feature ideas (just not so much implementing them)

I've actually downloaded just about every coin client that wouldn't give me a virus, so I would have personal knowledge when it comes to various coin topics on the alt currency board. I have a definite opinion of what people seem to like, and not so much seem to like. So if you have any questions for me, I'd be happy to answer.

[johnyj]

There is one change that really make difference: Late adopter advantage, means the later you join the game, the better you are positioned.

For example, all the mined coin can only exist for 100 days, they have the highest value when it first mined, and they get less and less each day

But it seems this is close to the character of all the non-lasting goods like food, cloth etc... Then no one will care about it

Out of this, I don't see any new ideas being fundamentally different

[Joe_Bauers]

I've had an idea floating around for a while, either for Bitcoin, or an alt coin, in which a Lamport one-time signature scheme is incorporated into the flow, which would (should) make the coin future proof.

[🏰 TradeFortress 🏰]

i have an idea for how you could set yourself apart that may actually be a legitimately useful innovation. instead of relying on one algo for proof of work use a bunch of them. 10 20 maybe even 30 different algorithms. This would almost entirely eliminate the idea of any sort of specialized hardware like asics being developed which would cause this coin to be radically decentralized even compared to bitcoin. You could simply cycle through the list 1 at a time and when you get to the end start back at the beginning.

There are no 30 different, suitable and tested algorithms.

[Anon136]

i have an idea for how you could set yourself apart that may actually be a legitimately useful innovation. instead of relying on one algo for proof of work use a bunch of them. 10 20 maybe even 30 different algorithms. This would almost entirely eliminate the idea of any sort of specialized hardware like asics being developed which would cause this coin to be radically decentralized even compared to bitcoin. You could simply cycle through the list 1 at a time and when you get to the end start back at the beginning.

There are no 30 different, suitable and tested algorithms.

ok well you know, how ever many there are, that many.