Wanted - Programmer for 2 new alt-coins (BOUNTY - 5oz of silver OR BTC)

[michaelmclees]

I just think you're being more than a little dishonest in your assessment of Martian Botcoins and the like with respect to whether or not they're so valuable that merged mining with Bitcoin is too risky for the users.

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[markm]

You evidently have not closely followed the history of merged mining.

Shop around the major pools, find out how much it will cost you to obtain enough hashing power to reasonably secure a chain.

Oh and by the way in which jurisdictions are you licensed to operate a currency backed by precious metals, since you consider jurisdiction so important?

The main reason that GRouPcoin has managed to operate so long un-molested is that it is not considered valuable. Raise its value even up to namecoin or litecoin levels and it is very likely to be attacked rather than added to the average miner's panoply of merged mined coins.

Even when GRouPcoin does get hashing power comparable to at least that enjoyed by Namecoin, if its value were to grow much beyond namecoin's it still might find that actually part of why namecoin is so cheap is because it is so insecure (so low in hashing power)...

-MarkM-

[freequant]

It could well be that Open Transactions would work well for what I'm doing, but that isn't what I'm advertising, is it?

Can you explain why you can't just use Ripple for what you propose?
It has been proposed to you like half a dozen time on this thread, and so far you haven't bothered giving a proper answer.
Nobody is going to help you if you don't clarify why your project needs to run as a proof-of-work currency.

Growing the bounty 1 oz at a time won't help much either: 4 oz of silver doesn't even amount to 1 BTC.
Unless you convince people that this is something useful, you aren't going to get developers flocking in droves to help you at this price. Now if you change 4oz of silver for 4oz of gold, it's a different story

[michaelmclees]

Can you explain why you can't just use Ripple for what you propose?
It has been proposed to you like half a dozen time on this thread, and so far you haven't bothered giving a proper answer.
Nobody is going to help you if you don't clarify why your project needs to run as a proof-of-work currency.

A couple of reasons.  1 - As far as I can tell, Ripple isn't even open source, so having anyone audit the code is basically impossible.  2 - I like the idea of a blockchain with miners setting the transaction fees.

[markm]

Well we can figure a ballpark for the transaction fees: at least $54,000 per day...

Just to start. But if they get to modify them, we can expect them to rise sharply from there...

-MarkM-

[michaelmclees]

Just to start. But if they get to modify them, we can expect them to rise sharply from there...

Right up to the point that users refuse to pay such fees.

[markm]

In other words, right up to the point where miners refuse to mine the coin.

-MarkM-

[markm]

All this crap is why I am still intending to do the Massively Merged Mining project.

Basically we should be able to afford to pay miners more than any other pool can afford to pay them, if we simply merged mine every coin that we can.

Once we have truly massive hashing power in the Massively Merged Mining project we can add more coins easily, so at that point we should be able to very easily just add your proposed coins into the merge and our miners need not even know or care since they will already be making more mining at a MMM pool than at any other pool.

So lets get that massive hashing power marshalled...

-MarkM-

[Mr. White]

lol, it's a nice idea.... it's never gonna work, or make actual money...

[AlphaWolf]

Wanted - Programmer for 2 new alt-coins (BOUNTY - 4oz of silver OR BTC)

I'll take the 4oz of BTC.

[michaelmclees]

Bump to 5oz of silver shipped to you for this project or an agreed upon Bitcoin amount.