New Cryptographic Currency

[SigmaDev]

Well, first of all the slack link doesn't work. Second, should we really focus onto the idea of replacing all the other coins? I believe that an amazing idea will prevail over time nonetheless, under one form or another. There's no real need to be aggressive, especially right now in the beginning. Why not give it a name such as JunoMoneta, or simply Moneta (check out the etymology of the word "money").

The logo should be something simple but powerful.

Hey, i have already suggested moneta in a pm with fl0w earlier and it is already taken on coinmarketcap,etc and right now with the whole "replacing other coins" is a clear end of the roadmap and not in the initial design of the coin, it is something that we see as an end goal

Then maybe Unique Moneta, or Juno Moneta, they could still work, especially since the coin Moneta is doing so bad (just checked it out on coinmarketcap).

Just a thought, but this is the difficulty with decentralizing all decision making.

As much as you want to decentralized the tool itself, the product needs a singular vision. Name, brand, differentiation is usually best built and held consistent by a designated person.

It will be alot simpler once Fl0w establishes a new way of streamlining communication, i think he is making a slack channel or some other sort of group communication so we can iron everything out

[KingScorpio]

Well, first of all the slack link doesn't work. Second, should we really focus onto the idea of replacing all the other coins? I believe that an amazing idea will prevail over time nonetheless, under one form or another. There's no real need to be aggressive, especially right now in the beginning. Why not give it a name such as JunoMoneta, or simply Moneta (check out the etymology of the word "money").

The logo should be something simple but powerful.

Hey, i have already suggested moneta in a pm with fl0w earlier and it is already taken on coinmarketcap,etc and right now with the whole "replacing other coins" is a clear end of the roadmap and not in the initial design of the coin, it is something that we see as an end goal

Then maybe Unique Moneta, or Juno Moneta, they could still work, especially since the coin Moneta is doing so bad (just checked it out on coinmarketcap).

Just a thought, but this is the difficulty with decentralizing all decision making.

As much as you want to decentralized the tool itself, the product needs a singular vision. Name, brand, differentiation is usually best built and held consistent by a designated person.

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It will be alot simpler once Fl0w establishes a new way of streamlining communication, i think he is making a slack channel or some other sort of group communication so we can iron everything out

vitalik bulkin made a promise to issue 100 million coins only for ethereum, people believed him on that why should a geek like him lie to them?, but in the end he can issue as many ETC as he wants to and there fore the people replaced their old masters like bernanke and draghi with vitalik bulkin... i dont think it is that much important to have a finally supply u can always just claim it but in the end its not as important.

[andrew2k]

u need to be gay jewish or intermarried with the established banker caste

Erm, what? Let's not be so conspiracy-oriented.

so all miners are constantly running a programm which summs up all existing bitcoins in all accounts and checks weather it is still the same ammount?

yep, its called the blockchain

That was quite funny.

Anyway, so I like the distribution, don't really know what to say about the algo though, X11 doesn't really allow for any more GPU and CPU mining, ASICs have taken over the mining. Why not Equihash, adopt it from Zcash. ZEN is coming up soon with Masternodes, maybe you could learn from there.

[SigmaDev]

u need to be gay jewish or intermarried with the established banker caste

Erm, what? Let's not be so conspiracy-oriented.

so all miners are constantly running a programm which summs up all existing bitcoins in all accounts and checks weather it is still the same ammount?

yep, its called the blockchain

That was quite funny.

Anyway, so I like the distribution, don't really know what to say about the algo though, X11 doesn't really allow for any more GPU and CPU mining, ASICs have taken over the mining. Why not Equihash, adopt it from Zcash. ZEN is coming up soon with Masternodes, maybe you could learn from there.

Equihash would be a nice move if we were to adopt one, but i believe Fl0w is very keen (and so am i) on the ability to develop it from a unique hashing algorithm, such as SHA-3/Argon2D

But i highly, HIGHLY believe Argon2D would be an exceptionally great idea and we can develop the coin off that hashing algo

[fl0wd3v]

Sorry, Slack link now works - https://oculus-slack-autoinvite.herokuapp.com/

(I tested and it says I am already invited and takes me through to the channel)

[KingScorpio]

Sorry, Slack link now works - https://oculus-slack-autoinvite.herokuapp.com/

(I tested and it says I am already invited and takes me through to the channel)

ah good now we can finally leave this forum

[superskillz]

Hello all, we compiled a list of names for this new currency that represent our vision and would like feedback from others on which are preferred:

Ligero
Shuttle
Fragment
Frag
Shard
Projection
Project
All
Scott
Group
Encompass
Absorb
Whole
Ring
Legion
Credit
Cred

[KingScorpio]

Hello all, we compiled a list of names for this new currency that represent our vision and would like feedback from others on which are preferred:

Ligero
Shuttle
Fragment
Frag
Shard
Projection
Project
All
Scott
Group
Encompass
Absorb
Whole
Ring
Legion
Credit
Cred

840 competitiors inclusive those which are well established and those which are backed by the old rich god like banker elite it is going to be tough to creat a value storage system, but even bitcoin is no secure value storage system it is the belief of the people which makes it valuable nothing else, the same counted for national currencies, this belief was then able to be abused as it was historically

[PhoenixWarrior333]

You are thinking of forking dash but want to keep the mining algorithm CPU.....

[loremipsum]

I have been following this thread a bit. I would choose Argon2D as the algorithm. Or, another algorithm that is CPU-only mineable, like the one HODL coin uses.

At the same time, CPU-only coins are vulnerable to mining from botnets. So, an idea would be to make newly minted coins locked for a certain period of time, for example 1 or 2 months. This will discourage botnets which usually mine and dump right away. This strategy was implemented by HODL, but the lockup time was too long (1 year) and the coin almost died. They've now changed that.

I think applying a novel CPU-only algorithm and blocking botnet mining can really make the coin stand out.

[fl0wd3v]

I have been following this thread a bit. I would choose Argon2D as the algorithm. Or, another algorithm that is CPU-only mineable, like the one HODL coin uses.

At the same time, CPU-only coins are vulnerable to mining from botnets. So, an idea would be to make newly minted coins locked for a certain period of time, for example 1 or 2 months. This will discourage botnets which usually mine and dump right away. This strategy was implemented by HODL, but the lockup time was too long (1 year) and the coin almost died. They've now changed that.

I think applying a novel CPU-only algorithm and blocking botnet mining can really make the coin stand out.

I am going to fork Dynamic(DYN) as it has what I need and can strip out what is not needed.

[loremipsum]

I have been following this thread a bit. I would choose Argon2D as the algorithm. Or, another algorithm that is CPU-only mineable, like the one HODL coin uses.

At the same time, CPU-only coins are vulnerable to mining from botnets. So, an idea would be to make newly minted coins locked for a certain period of time, for example 1 or 2 months. This will discourage botnets which usually mine and dump right away. This strategy was implemented by HODL, but the lockup time was too long (1 year) and the coin almost died. They've now changed that.

I think applying a novel CPU-only algorithm and blocking botnet mining can really make the coin stand out.

I am going to fork Dynamic(DYN) as it has what I need and can strip out what is not needed.

I checked it out, it uses the Argon2D algo, looks interesting. But couldn't find any info about the premine.

What are you planning to change/strip out?

[Lubuntu]

What do you think about Vertcoin Scrypt-N algo ?
Is it vulnerable to mining from botnets ?

[fl0wd3v]

I have been following this thread a bit. I would choose Argon2D as the algorithm. Or, another algorithm that is CPU-only mineable, like the one HODL coin uses.

At the same time, CPU-only coins are vulnerable to mining from botnets. So, an idea would be to make newly minted coins locked for a certain period of time, for example 1 or 2 months. This will discourage botnets which usually mine and dump right away. This strategy was implemented by HODL, but the lockup time was too long (1 year) and the coin almost died. They've now changed that.

I think applying a novel CPU-only algorithm and blocking botnet mining can really make the coin stand out.

I am going to fork Dynamic(DYN) as it has what I need and can strip out what is not needed.

I checked it out, it uses the Argon2D algo, looks interesting. But couldn't find any info about the premine.

What are you planning to change/strip out?

The coin only needs PoW/Masternodes, no governance, Namecoin functionality. However, I am not going to start work on anything until I know that people will use it and that I will in one way or another be reimbursed for my time, with everyone also being happy about it too.

[bustomi]

Name Idea: Flow(FLW)

Icon/Logo Idea:

Same logo as my GitHub: https://github.com/fl0wd3v

EDIT: This is just an idea I am throwing out there and I am more than willing to hear suggestions and see other logo options as well as names.

The logo seems a tad bit too simple in my opinion and it lacks creativity (sorry if it sounds insulting). Let's not brand it yet, why not take some more input form the community, give it a little more time maybe you'll come up with other ideas.

People around here tend to start branding coins too early.

what a logo.., looks similiar to other crypto.. bit still good 

[loremipsum]

What do you think about Vertcoin Scrypt-N algo ?
Is it vulnerable to mining from botnets ?

I haven't looked into Vertcoin lately but from what I read its mainly GPU-mined, CPU mining is now slower and has a smaller share than GPU mining; so no, it shouldn't have issues with botnets. But, its not a CPU-only coin anymore.

[KingScorpio]

Hi, very interested, also what would be your take on general staking? Would you run this as ONLY PoW and masternodes or will you have general wallet staking implemented? From what i have read i presume that you have decided that it would only be masternode staking. Do you believe that the future of the coin could be jeopardized by a " only pow/masternode setup" were only early adopters or wealthy investers would remain the majority?

I am not personally a fan of PoS as this requires inputs to be unlocked the whole time whilst staking, which exposes the private keys, also, securing the Masternodes with PoS hashes is very much a bad idea. I think the reward structure I have laid out secures ROI and secures both miners and Masternode operators at different stages throughtout the lifecycle of coin production(~35 years).

more miners arent important there has to be just enough miners that the currency is reliably decentra, and its information system unhackable, bitcoin might have one day no miners at all the reward structure isnt important to the miners its the liquidity price what they have to keep their assets running. did someone calculated how much electricity bitcoin costs the world each year? maybe one day bitcoin gets shut down by environmentalists who did a petition which got supported by banksters or ethereum and other bitcoin competitors which dont have such a big mining structure, future lobbyism will be a threat to bitcoin and bitcoin doesnt has any owner who will protect it against them. those are just thoughts of me but they arent undeniable

[loremipsum]

I have been following this thread a bit. I would choose Argon2D as the algorithm. Or, another algorithm that is CPU-only mineable, like the one HODL coin uses.

At the same time, CPU-only coins are vulnerable to mining from botnets. So, an idea would be to make newly minted coins locked for a certain period of time, for example 1 or 2 months. This will discourage botnets which usually mine and dump right away. This strategy was implemented by HODL, but the lockup time was too long (1 year) and the coin almost died. They've now changed that.

I think applying a novel CPU-only algorithm and blocking botnet mining can really make the coin stand out.

I am going to fork Dynamic(DYN) as it has what I need and can strip out what is not needed.

I checked it out, it uses the Argon2D algo, looks interesting. But couldn't find any info about the premine.

What are you planning to change/strip out?

The coin only needs PoW/Masternodes, no governance, Namecoin functionality. However, I am not going to start work on anything until I know that people will use it and that I will in one way or another be reimbursed for my time, with everyone also being happy about it too.

Why do you want to use Masternodes? Is it for anonymity reasons?

I am not a developer but there are other ways I think I can help with

[fl0wd3v]

Masternodes are in place as a 2nd tier of security for the network as well as providing a steady ROI to those invested in securing the network. The same as miners are rewarded for securing the network.

Not to mention the Masternodes provide InstantSend and PrivateSend functionality which improves overall speed and privacy on the network.

Any help is welcomed, please get in touch via PM.

[fl0wd3v]

One thing I do want to do is remove governance/DAO from the code. I feel that it can be manipulated by a big whale potentially buying a lot of Masternodes, creating a proposal and then voting on it and winning every budget block whilst they have majority Masternodes.

For this reason, I think it best that its removed, or, at least the budget block is made 0 for the time being and restrictions made in the code to render it useless.