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Author Topic: ipv4coin - a new concept  (Read 1389 times)
imperi
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June 20, 2011, 05:23:01 AM
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I was thinking of a system like Bitcoin except with ipv4 addresses. So you get a block for every unique ip address you add to the system. So if you go to 10 different places with Internet connections and log in, you get 10 blocks, but ONLY if you're the first. Anyone new to this would get a block right away, unlike Bitcoin or Namecoin. This could be in addition to mining. What do you guys think?
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cuddlefish
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June 20, 2011, 05:25:05 AM
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I was thinking of a system like Bitcoin except with ipv4 addresses. So you get a block for every unique ip address you add to the system. So if you go to 10 different places with Internet connections and log in, you get 10 blocks, but ONLY if you're the first. Anyone new to this would get a block right away, unlike Bitcoin. This could be in addition to mining. What do you guys think?

So botnets get 10,000 blocks? Great idea!

imperi
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June 20, 2011, 05:26:02 AM
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I was thinking of a system like Bitcoin except with ipv4 addresses. So you get a block for every unique ip address you add to the system. So if you go to 10 different places with Internet connections and log in, you get 10 blocks, but ONLY if you're the first. Anyone new to this would get a block right away, unlike Bitcoin. This could be in addition to mining. What do you guys think?

So botnets get 10,000 blocks? Great idea!

Yes. The couple of people with botnets get that many blocks.
cuddlefish
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June 20, 2011, 05:27:38 AM
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I was thinking of a system like Bitcoin except with ipv4 addresses. So you get a block for every unique ip address you add to the system. So if you go to 10 different places with Internet connections and log in, you get 10 blocks, but ONLY if you're the first. Anyone new to this would get a block right away, unlike Bitcoin. This could be in addition to mining. What do you guys think?

So botnets get 10,000 blocks? Great idea!

Yes. The couple of people with botnets get that many blocks.
What's the advantage of this over mining?

imperi
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June 20, 2011, 05:30:36 AM
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I was thinking of a system like Bitcoin except with ipv4 addresses. So you get a block for every unique ip address you add to the system. So if you go to 10 different places with Internet connections and log in, you get 10 blocks, but ONLY if you're the first. Anyone new to this would get a block right away, unlike Bitcoin. This could be in addition to mining. What do you guys think?

So botnets get 10,000 blocks? Great idea!

Yes. The couple of people with botnets get that many blocks.
What's the advantage of this over mining?

It provides another avenue to get coins, such as going to lots of different Wifi locations or using VPNs, different 3G devices, etc. Also newcomers can start out with coins. There's a limited number of ipv4 addresses so I think it could work out. The mining rate (difficulty) could be adjusted to a new rate, the ipv4 introduction rate, so that it's fair. Or maybe instead of this, make the yield in coins from new ipv4 addresses calibrate to this rate.
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June 20, 2011, 05:34:49 AM
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The advantage is that you would give money to the persons that know how to use it! http://en.wikipedia.org/wiki/List_of_assigned_/8_IPv4_address_blocks . Some examples of 24 million block richs: IBM (9.0.0.0/8), AT&T, Ford, Apple, HP, the Department of Defense (military always need money, and they have 11 Type A blocks...) Plus I'm quite sure MS has many IPs... Money isn't good for poors!
imperi
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June 20, 2011, 05:36:14 AM
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The advantage is that you would give money to the persons that know how to use it! http://en.wikipedia.org/wiki/List_of_assigned_/8_IPv4_address_blocks . Some examples of 24 million block richs: IBM (9.0.0.0/8), AT&T, Ford, Apple, HP, the Department of Defense (military always need money, and they have 11 Type A blocks...) Plus I'm quite sure MS has many IPs... Money isn't good for poors!

Those same people could buy thousands of video cards and set them up.

Also, if they did make that many coins, they'd have to actually use them or else it was pointless.  It would be great if AT&T, Ford, Apple, HP, and the Department of Defense all participated in this economy. That would make the value increase.
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June 20, 2011, 05:47:34 AM
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Let's put it from another POV: only few private persons "own" an IP. You normally only "lease" it. Probably the bitcoin you would mint would be "owned" by the real owner of the IP (so your ISP). Another problem: today the DoD ignores IPcoins, and it has firewalls, so no one can use its IPs to gain coins. Tomorrow it decides to crash the market (it's used by terrorists and pedos, right?), and it "enters" owning 11/225 (or something similar... 0, 10, 127, 224-255 are reserved, so it's 256 - 31 blocks)... The idea isn't totally wrong, and it's quite good, but still it gives to the already rich the money and they don't even have to do anything, and it creates the possibility of lawsuits for the owning of coins generated by IPs.
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June 20, 2011, 06:08:34 PM
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I was forgetting... The main point of mining (if you read the faq) is that the work to find the right nonce is very hard, but everyone can check that the value is right (and that the work was done, and when it was done, and who did it). And anyone can check it, without a central server. With IP coins who would check the fact that you are using an IP? A general agreement? So if you need the agreement of 10 PCs, you simply take 10 PC, rig them and they'll give you the agreement that you are using any one IP.
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