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Author Topic: What is the ideal coin?  (Read 738 times)
SealTx (OP)
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June 09, 2017, 04:03:30 AM
 #1

If you as a (miner || investor || developer || armchair analyst) were going to describe the perfect coin, what would it be?

Also, tell why... like in agile story telling, use a format like, "As a developer, I like to use the (ethereum|bitshares|omni|burst) blockchain because..." or "As an investor I like the ____ wallet because..."

Give as many why's as you can think of.

SealTx (OP)
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June 09, 2017, 04:31:57 AM
 #2

Developer Rewards

Rewarding developers is difficult. In most ICO's they say that the money will go to dev work, but I think the money will mostly go to cocaine. Presuming you actually want to pay a dev, how do you know how valuable that dev's work is anyway?

If there was good way to trustlessly reward developer work... that would be amazing. Maybe a technology premium or something, like:

DevAwesome makes a wallet, and 5,280 people use it... maybe a transaction premium, like part of the miner gas (Ethereum) goes back "up" the technology chain to the developers... eventually DevAwesome gets a reward from the miner for facilitating the transaction.

Does any coin do this?
Boxxl
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June 09, 2017, 05:51:07 AM
 #3

My ideal coin is buy on 0,0001 $
And sell on 1000,-  Grin

No Signature right now...
vuvanle120
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June 09, 2017, 06:10:38 AM
 #4

My ideal coin is buy on 0,0001 $
And sell on 1000,-  Grin


Lol. That's my ideal coin as well. Wish I bought Stratis when it was worth nothing.

pynetx
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June 09, 2017, 07:06:12 AM
 #5

The one like Ethereum if you've missed the Bitcoin train Tongue
cychan2
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June 09, 2017, 09:26:37 AM
 #6

My ideal coin is buy on 0,0001 $
And sell on 1000,-  Grin

Good:   in 5 years
Better: in 5 months
Best  : in 5 days
SealTx (OP)
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June 09, 2017, 05:57:46 PM
 #7

Ideal for what specific application?

Its like saying, whats the ideal tool...

When the correct way to view it is, the right tool for the job

Yes, I agree. So, not like "How to design a coin for an application" (storage, private transactions, social network), but the currency itself and its ability to self-sustain trustlessley.

So, I have noticed that a lot of miners comment on two things about any ICO:
  • The total supply of a coin (also whether the coin has a limited supply, a graduated supply or a fiat style supply)
  • The premine

The general perspectives seem to be that:
  • fewer coins is better (not sure this makes any sense except that it easier to "feel" a coin that has similar denomination and value to fiat)
  • That a static supply is better, and that parabolic, hyperbolic, graduated or any other non-static supply is the same as fiat (I disagree, but the sentiment is interesting)
  • That premine is a sign of work-free wealth and must not be tolerated (I agree with this as well, and believe there are better ways to approach creator-value-position)

As a miner myself, I would see the "ideal" coin as a dual-mine option in Claymore... so, there's that.
Patatas
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June 09, 2017, 06:01:41 PM
 #8

If you as a (miner || investor || developer || armchair analyst) were going to describe the perfect coin, what would it be?

Also, tell why... like in agile story telling, use a format like, "As a developer, I like to use the (ethereum|bitshares|omni|burst) blockchain because..." or "As an investor I like the ____ wallet because..."

Give as many why's as you can think of.

Too many damn complications with your format dude,it's vague.
- > As a developer I would like to use any coin that is open source and has libraries available in most of the modern programming languages.Calling the API's should be newbie friendly.

->As an investor I don't give a shit what a coin is or what it does,as long as it's making me money I'm good.

-> As an technologist,I want bitcoin to solve the blocksize issues and keep staying on top of the charts as is now.
TechnoMusic
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June 09, 2017, 06:04:03 PM
 #9

SealTx I like your topic,it will help me to make my own cryptocurrency so I want to explore more to figer out how my coin should look like because I dont want to create scam coin because I am not person like that.I think that coin with good design,low fees,fast transactions,good mining rewrds is best for everybody.
ppc.pt
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June 09, 2017, 06:30:17 PM
 #10

Most of the new coins are better called "tokens". And each has different utility.

But if you are talking about the perfect coin just for transact, I would say that it needs to be secure, quick, easy, low fees, and accepted everywhere.

Unfortunatly bitcoin can no longer furfill that place, fees are too high and its far from "quick". But maybe it was never intended to be for that...? Who knows
Patatas
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June 09, 2017, 06:34:43 PM
 #11

But if you are talking about the perfect coin just for transact, I would say that it needs to be secure, quick, easy, low fees, and accepted everywhere.
For now,only bitcoin does that.ETH will be the next closest.

Unfortunatly bitcoin can no longer furfill that place, fees are too high and its far from "quick". But maybe it was never intended to be for that...? Who knows
It will once the block size issues are solved.Bitcoin was always intended to be fast according to the white paper,who knows how technology evolves in the future anyway ?
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