I wanna design a new crypt coin, what features should be included in ?

[dolfcao]

I wanna design a new crypt coin(based on or similar to btc or ltc), what features do u guys think should be included in this new coin?
Right now I think these little features should be included in the new coin:
1. no limit to the total amount of the coin, it's hard to generate as time goes by (similar to the real world);
2. transaction fees controlled to under 0.001% of total transaction, or maybe transaction fees is 0;
3. support borrow and lend coins (should pay transaction fees and interest fees);
4. at first, every block include no less than 1024 coins, every 10 years this goes half down, until after 50 years the coins in a block come to a stable number: 32.

I wanna implement the money liquidity and credit extensibility in this new coin like real money, and keep the good features that p2p bring to the coin.

Do you guys have any advice, please give me some advice.

[Explodicle]

maybe transaction fees is 0

You need some transaction fee to prevent spam.

[milkman1]

Do u guys have any advice, please give me some advice.

an author who writes 'you' instead of 'u'?

 

Not trying to be mean!  But "who wrote it" is more important to me for trusting vs. what crazy new features you can think of. What are your qualifications?

[pyra-proxy]

Why not try a different approach which accounts for adoption time to some extent and keeping mint rate very low.

I.e. 1.5 min blocks, reward starts at 1 coin per block and annually adds 1 additional coin to the block reward indefinitely.  Also, create the coin merge-minable with other scrypt coins.

[bitcon]

free gift givaways. you get a free bicycle if you solve a block. or free blow and strippers to whoever solves every 1000th block. you could call it "cuntcoin"

[Brunic]

Change the Scrypt parameters to make it more memory intensive and destroy the cost/performance ratio of GPUs.

[pyra-proxy]

Why not try a different approach which accounts for adoption time to some extent and keeping mint rate very low.

I.e. 1.5 min blocks, reward starts at 1 coin per block and annually adds 1 additional coin to the block reward indefinitely.  Also, create the coin merge-minable with other scrypt coins.

Hmm actually why not just try 1 coin per block indefinitely...  1 min block times.  You'll get half mill coins every year and will give you some number of years to grow an economy around the coin.  Will take a little less than 40 ish years to match btc supply but yours keeps growing to assist with liquidity.

You could add PoS as well like PPcoin but reduce the minimum time to say a week instead of a month as well.  Make the PoS reward 0.1% instead of 1% as in PPC now.

[BrewCrewFan]

free gift givaways. you get a free bicycle if you solve a block. or free blow and strippers to whoever solves every 1000th block. you could call it "cuntcoin"

Dude, we gots a winner right here/ thread closed!

lol

[dolfcao]

Do u guys have any advice, please give me some advice.

an author who writes 'you' instead of 'u'?

 

Not trying to be mean!  But "who wrote it" is more important to me for trusting vs. what crazy new features you can think of. What are your qualifications?

I will change this.

[dolfcao]

maybe transaction fees is 0

You need some transaction fee to prevent spam.

Yes, I know that, what ratio is proper?

[dolfcao]

Why not try a different approach which accounts for adoption time to some extent and keeping mint rate very low.

I.e. 1.5 min blocks, reward starts at 1 coin per block and annually adds 1 additional coin to the block reward indefinitely.  Also, create the coin merge-minable with other scrypt coins.

rewards start at 1 coin per block ad annually adds 1 additional coin to the block rewards sounds like a good idea, but what's the profit of doing this? I'm not very clear, can u explain this?

[milly6]

Change the Scrypt parameters to make it more memory intensive and destroy the cost/performance ratio of GPUs.

very good idea

[dolfcao]

free gift givaways. you get a free bicycle if you solve a block. or free blow and strippers to whoever solves every 1000th block. you could call it "cuntcoin"

This is a good idea, people may have more passion in mining.

[transbot]

I like, rewards very low for first 6 months, so nobody can be accused of pre-mine

then rewards become "normal" like 50 per block

[dolfcao]

Change the Scrypt parameters to make it more memory intensive and destroy the cost/performance ratio of GPUs.

I will consider this and modify the scrypt to make gpu mining more difficult.

[dolfcao]

Why not try a different approach which accounts for adoption time to some extent and keeping mint rate very low.

I.e. 1.5 min blocks, reward starts at 1 coin per block and annually adds 1 additional coin to the block reward indefinitely.  Also, create the coin merge-minable with other scrypt coins.

Hmm actually why not just try 1 coin per block indefinitely...  1 min block times.  You'll get half mill coins every year and will give you some number of years to grow an economy around the coin.  Will take a little less than 40 ish years to match btc supply but yours keeps growing to assist with liquidity.

You could add PoS as well like PPcoin but reduce the minimum time to say a week instead of a month as well.  Make the PoS reward 0.1% instead of 1% as in PPC now.

liquidity is the most important factor, so your advice is a good one, but i think at first people will be disappointed while they get only 10 coins after 5 days mining? how do u think about that? I wanna make a big number of coins in a block is just because I think people need more coins to lighten the comparation between transaction fees and the coins people own, do u agree with this?

[dolfcao]

free gift givaways. you get a free bicycle if you solve a block. or free blow and strippers to whoever solves every 1000th block. you could call it "cuntcoin"

Dude, we gots a winner right here/ thread closed!

lol

ou
No, it's not closed, it's not enough, I need more advice, what features do you guys really want?

[dolfcao]

I like, rewards very low for first 6 months, so nobody can be accused of pre-mine

then rewards become "normal" like 50 per block

I see, meanwhile, in first 6 month, the transaction fee is 0, and after 6 months, transaction fee becomes to be 1/10000 in a fixed ratio, is this ok?

[Come-from-Beyond]

maybe transaction fees is 0

You need some transaction fee to prevent spam.

No, you don't. Proof-of-work prevents spam too.

[Praxis]

Proof-of-Burn