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

[dolfcao]

maybe transaction fees is 0

You need some transaction fee to prevent spam.

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

but people more send very big amount of little coins to attack the whole network.

[dolfcao]

Proof-of-Burn

what's proof of burn?

[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.

but people more send very big amount of little coins to attack the whole network.

They can't. 1000x transactions require 1000x calculations to be made. If 1 transaction requires 1 minute of calculations on average CPU then not more than 1440 transactions can be sent during 24 hours.

[dolfcao]

maybe transaction fees is 0

You need some transaction fee to prevent spam.

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

but people more send very big amount of little coins to attack the whole network.

They can't. 1000x transactions require 1000x calculations to be made. If 1 transaction requires 1 minute of calculations on average CPU then not more than 1440 transactions can be sent during 24 hours.

uh, u mean one user can at most send 1440 transactions under ur condition?

[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.

but people more send very big amount of little coins to attack the whole network.

They can't. 1000x transactions require 1000x calculations to be made. If 1 transaction requires 1 minute of calculations on average CPU then not more than 1440 transactions can be sent during 24 hours.

uh, u mean one user can at most send 1440 transactions under ur condition?

Yes. It's the same as http://en.wikipedia.org/wiki/Hashcash.

[Ignore@YourPeril]

I would very much like to see a coin generated like it is suggested by Adrian-x: https://bitcointalk.org/index.php?topic=110708.msg1207871#msg1207871.

[Shad3dOne]

I want a coin that randomly selects any miners gpu on the network and just blows it up everytime a block is found.

New block found on pool 0
Incoming!!!
 ZAp!!.Smoke!!..a little spark and fire!!

Fun for all ages. Would make mining hell of a lot more fun.

oh, oh,...and dont forget a massive pre-mine..like 35%-100%... just for shits and giggles.

oh,oh,oh ...and call it something bird/weight related...like lintcoin, dodocoin, duckfeathercoin, extremelylitecoin.....

[Come-from-Beyond]

I want a coin that randomly selects any miners gpu on the network and just blows it up everytime a block is found.

New block found on pool 0
Incoming!!!
 ZAp!!.Smoke!!..a little spark and fire!!

Fun for all ages. Would make mining hell of a lot more fun.

oh, oh,...and dont forget a massive pre-mine..like 35%-100%... just for shits and giggles.

oh,oh,oh ...and call it something bird/weight related...like lintcoin, dodocoin, duckfeathercoin, extremelylitecoin.....

Try something more challenging. What about 146% of pre-mined coins?

[Shad3dOne]

I want a coin that randomly selects any miners gpu on the network and just blows it up everytime a block is found.

New block found on pool 0
Incoming!!!
 ZAp!!.Smoke!!..a little spark and fire!!

Fun for all ages. Would make mining hell of a lot more fun.

oh, oh,...and dont forget a massive pre-mine..like 35%-100%... just for shits and giggles.

oh,oh,oh ...and call it something bird/weight related...like lintcoin, dodocoin, duckfeathercoin, extremelylitecoin.....

Try something more challenging. What about 146% of pre-mined coins?

Nah. i think Cripple[xrp] already has that market cornered.

[Explodicle]

maybe transaction fees is 0

You need some transaction fee to prevent spam.

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

but people more send very big amount of little coins to attack the whole network.

They can't. 1000x transactions require 1000x calculations to be made. If 1 transaction requires 1 minute of calculations on average CPU then not more than 1440 transactions can be sent during 24 hours.

uh, u mean one user can at most send 1440 transactions under ur condition?

Yes. It's the same as http://en.wikipedia.org/wiki/Hashcash.

While that is technically a no fee system...
1) everyone still pays transaction costs (if not fees) in the form of hashes
2) hashes are one use only so that payment never recirculates, wasted heat
3) you'd need Brunic's hash algorithm (above) to prevent spammers from using GPUs
4) drained smartphone batteries
5) coins are just portable hashes anyways

[jimhsu]

Use this hash function: http://en.wikipedia.org/wiki/Fast_Syndrome_Based_Hash

Back to CPU mining here.

[dolfcao]

I would very much like to see a coin generated like it is suggested by Adrian-x: https://bitcointalk.org/index.php?topic=110708.msg1207871#msg1207871.

I read this message, but i don't get any suggestions.

[dolfcao]

I want a coin that randomly selects any miners gpu on the network and just blows it up everytime a block is found.

New block found on pool 0
Incoming!!!
 ZAp!!.Smoke!!..a little spark and fire!!

Fun for all ages. Would make mining hell of a lot more fun.

oh, oh,...and dont forget a massive pre-mine..like 35%-100%... just for shits and giggles.

oh,oh,oh ...and call it something bird/weight related...like lintcoin, dodocoin, duckfeathercoin, extremelylitecoin.....

Try something more challenging. What about 146% of pre-mined coins?

While premined so much? I don't wanna break the rule.

[dolfcao]

Use this hash function: http://en.wikipedia.org/wiki/Fast_Syndrome_Based_Hash

Back to CPU mining here.

I will consider the algorithm seriously.

Do you guys have any other algorithms?

[Ignore@YourPeril]

I read this message, but i don't get any suggestions.

Sorry, it is the one with a chart two messages above the one referred to:

https://bitcointalk.org/index.php?topic=110708.msg1207805#msg1207805

[Etlase2]

uh, u mean one user can at most send 1440 transactions under ur condition?

Yes. It's the same as http://en.wikipedia.org/wiki/Hashcash.

The problem with using a hashcash style spam-prevention is that it almost has the opposite effect on a distributed network. One user who can make 1,440 transactions per day can have the networks bandwidth multiplied by 1,440 txes X the number of network peers. "It shows work! I must pass it on to everyone I know!" Multiply this by a botnet and you have complete network collapse. In addition, providing a nonce as proof of work with each transaction will increase the size of each transaction by at least 32 bytes, perhaps 64 bytes or more. That is a significant increase in bandwidth to avoid paying transaction fees. Proof of work as tx fees is more easily DDoS'd and less scalable.

[pyra-proxy]

http://en.m.wikipedia.org/wiki/SHA-3. Use one of these (a fast and likely candidate), these are being designed to replace the sha2 hashing bitcoin is currently using to prepare for the possible likelihood that sha-2 has a critical vulnerability in the moderate future timeframe.  Also consider a 512 bit variant up from currently used 256 bit.

[dolfcao]

I read this message, but i don't get any suggestions.

Sorry, it is the one with a chart two messages above the one referred to:

https://bitcointalk.org/index.php?topic=110708.msg1207805#msg1207805

I got it, thanks, I'm still thinking about new features.

[Twerka]

Do you want to create a Coin which is infinite and you can create it with no limits (inflation), which has borrow and lend support (banks)?

Man, we already have that since a long, long time ago, and that is the reason why BitCoin exist...

[dolfcao]

uh, u mean one user can at most send 1440 transactions under ur condition?

Yes. It's the same as http://en.wikipedia.org/wiki/Hashcash.

The problem with using a hashcash style spam-prevention is that it almost has the opposite effect on a distributed network. One user who can make 1,440 transactions per day can have the networks bandwidth multiplied by 1,440 txes X the number of network peers. "It shows work! I must pass it on to everyone I know!" Multiply this by a botnet and you have complete network collapse. In addition, providing a nonce as proof of work with each transaction will increase the size of each transaction by at least 32 bytes, perhaps 64 bytes or more. That is a significant increase in bandwidth to avoid paying transaction fees. Proof of work as tx fees is more easily DDoS'd and less scalable.

your analysis is really valuable, the transaction fees will be 1/10000 in a fixed ratio after 100 transactions per user per day, do you think this is acceptable?