MC2: A cryptocurrency based on a hybrid PoW/PoS system

[hennessyhemp]

I don't know if anyone has suggested this yet, but would it be possible to shorten the address associated with your wallet because currently it's more or less unreadable and very difficult to memorize in your head.

The likely answer is no.  It is a necessary security protocol that makes those long addresses, which is what keeps it secure.  Most are built in to recognize the first six characters though...and you can typically use the paper wallet sites to give yourself a "vanity" address which would make it much easier.

The current level of complication required to use crypto-currency will keep it limited in terms of access by the general public, so I certainly agree that simplification is our greatest ally in adoption.  This project and even Digital coin have great potential due to the ease of mental adoption...even a non geek would understand a "digital" coin or a "net" coin, even more-so than a "bit" coin.

What I love about all crypto currencies is the fact that they are already the back-end protocols on which the banking systems of the world will run, they just haven't been implemented as such...yet.  Looking at Buttercoin and extrapolating what a success could potentially do to Wall Street...it could very well become the standard trading platform used by NYSE and others, as an open source version would be much less prone to outside manipulation, and could change the way the world works with finance.  I really like the idea of gold and silver operating on an open source exchange...that would be something, as the price would be based on what the people are willing to pay, not the banks.

Also...get this project on the map with Buttercoin's members so we can run right alongside BTC early on.

I'd love to see multiple pools in multiple places throughout the world available to miners from day one. 

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[digicoin]

I don't know if anyone has suggested this yet, but would it be possible to shorten the address associated with your wallet because currently it's more or less unreadable and very difficult to memorise in your head.

Ha ha ha. You are not computer guy definitely.

[digicoin]

I don't know if anyone has suggested this yet, but would it be possible to shorten the address associated with your wallet because currently it's more or less unreadable and very difficult to memorize in your head.

The likely answer is no.  It is a necessary security protocol that makes those long addresses, which is what keeps it secure.  

Secure? May be less confused: Unique key, avoid address conflicts, distributed key generation.

[digicoin]

Not sure if NetCoin needs a Python coder (/me)?

[rbdrbd]

I don't know if anyone has suggested this yet, but would it be possible to shorten the address associated with your wallet because currently it's more or less unreadable and very difficult to memorise in your head.

Ha ha ha. You are not computer guy definitely.

There are other options, such as some kind of future integration with the NameCoin alias namespace (still under development), or some other bitcoin address DNS-type interface. Hell, even some system such as adding  a TXT DNS record to a domain with the address in it could prove itself to be useful...and then if the user enters bitcoinstore.com in the payment field, we could just do a DNS lookup for the TXT entry with the appropriate name associated with that domain, and pull the address in through that. It's not P2P like NetCoin aliases, but it uses technology that exists today.

[GarrusV]

Thanks for answering my question rb. Presumably you could have the choice of both? Or just turn one off if you know you'll always have access to a copy of your address? Not really my department of expertise.

The simple answer would be just to always have a copy it, but then most people wouldn't be in that habit or be tech savvie enough to think of smart ways around it. Mass appeal unfortunately means dumbing stuff down.

[calecho]

Hi taco,
When do you believe approximately are you going to release Netcoin?

[cunicula]

Added a proposed feature to the netcoin wiki:

http://www.netcoin.io/wiki/Theft_Protection_through_Reversibility_and_Failsafe_Accounts

[_ingsoc]

Added a proposed feature to the netcoin wiki:

http://www.netcoin.io/wiki/Theft_Protection_through_Reversibility_and_Failsafe_Accounts

Thanks, cunicula! You've put some interesting material up. Just in case anyone is wondering, there's stuff happening in the background to set up our crowdfunding model, prepare job postings for developers, and make final theoretical additions/changes to the whitepaper. TacoTime's just been a little swamped lately, but we'll keep pushing the dream forward!

[digicoin]

Should we have the white paper in the wiki as well?

[_ingsoc]

Should we have the white paper in the wiki as well?

That's a good idea. I'll try and get a raw data version from TacoTime and put it up in sections. New version is coming too.

[solracx]

Added a proposed feature to the netcoin wiki:

http://www.netcoin.io/wiki/Theft_Protection_through_Reversibility_and_Failsafe_Accounts

Interesting, ZenithCoin plans on implementing something similar.

[cunicula]

Added a proposed feature to the netcoin wiki:

http://www.netcoin.io/wiki/Theft_Protection_through_Reversibility_and_Failsafe_Accounts

Interesting, ZenithCoin plans on implementing something similar.

Well keep an eye on the netcoin wiki. I hope to compile promising ideas there. I see you are going with devcoin style taxation. To take this to the next level make the address of the tax collector electable via PoS. Otherwise, the scheme will lack legitimacy. Just as in freicoin. You want there to be competition for the position of coin CEO. Otherwise, the system is certain to turn corrupt.

[Arbitrageur]

I haven't gone through the specs of the netcoin but the idea to involve democracy in a coin is utterly idiotic. Democracy simply doesn't work in society and won't work in a coin.

http://beyonddemocracy.net/

[_ingsoc]

I haven't gone through the specs of the netcoin but the idea to involve democracy in a coin is utterly idiotic. Democracy simply doesn't work in society and won't work in a coin.

http://beyonddemocracy.net/

That's an interesting perspective. Have you thought about how we could incorporate some of the ideas from the material you posted? I would be very open to listen to what you have in mind. Makes me think about the old Churchill quote: "It has been said that democracy is the worst form of government except all the others that have been tried".

[cryptrol]

I haven't gone through the specs of the netcoin but the idea to involve democracy in a coin is utterly idiotic. Democracy simply doesn't work in society and won't work in a coin.

http://beyonddemocracy.net/

Democracy is ok. It's just that we are using some lousy implementations of it.

[Devine]

I'd really like to see this go ahead. It's a huge improvment on Bitcoin and Litecoin - and the altcoins are barely worth a mention...

I check out the forum - it is almost completely spam. Install some anti-spam stuff!

[_ingsoc]

I'd really like to see this go ahead. It's a huge improvment on Bitcoin and Litecoin - and the altcoins are barely worth a mention...

I check out the forum - it is almost completely spam. Install some anti-spam stuff!

Hey, yes, we're in the process of getting a new forum up. Initially there was some good activity on the forum, but it's a bit quiet right now. Before we crowdfund the development, we'll make sure all the infrastructure is ready to get it going, including the forum. For now the Wiki is a good place to put up some ideas if you want, and that will be around with spam management for good. Sorry about the spam! There's been a lot around lately.

[Branny]

I still think this is one of the best crypto implementations possible.

However the issue stands that the longer it takes to implement, the more the alt-coin market is saturated by fly-by-night coins and other coins that disappear.

Is there anything that someone can do without any coding experience at all to help the development? Maybe donating some LTC?

[_ingsoc]

I still think this is one of the best crypto implementations possible.

However the issue stands that the longer it takes to implement, the more the alt-coin market is saturated by fly-by-night coins and other coins that disappear.

Is there anything that someone can do without any coding experience at all to help the development? Maybe donating some LTC?

There are a few things we need on a non-technical side. Good graphic design is one. You can send an e-mail to volunteer {dot} mc2 {at} gmail {dot} com if you have anything specific in mind. TacoTime mentioned in his first post donation addresses to answer your question about LTC. However, we are planning a crowdfunding opportunity to make the development happen. There is one more planned cycle to make some theoretical improvements to the paper, which TacoTime will upload. After that we'll get the ball rolling!