Ethicoin is coming: Ethicoin's purpose is to improve the condition of humanity

[Ethicoin]

Very interested, merge mine with LTC will be revolutionary

Thank you - this is the technical hurdle we are still overcoming and we are looking for an LTC mining pool where we can test our LTC merge mining. I'll be honest - we really need to test this LTC merge mining in the wild before launching ETC. So if you know a large LTC mining pool willing to support our tests please let me know

[K1773R]

Very interested, merge mine with LTC will be revolutionary

Thank you - this is the technical hurdle we are still overcoming and we are looking for an LTC mining pool where we can test our LTC merge mining. I'll be honest - we really need to test this LTC merge mining in the wild before launching ETC. So if you know a large LTC mining pool willing to support our tests please let me know

p2pool would be the easiest way.

[Ethicoin]

One thing is certain. You try to merge mine Ethicoin with Vaginacoin.. shit will get strange

Close encounters of the third kind coin  

LOL

But could you elaborate on how LTC miners will receive free coins? I think I missed the merged mining explanation boat... :/

Well, if you are mining LTC anyway you can run ETC (Ethicoin) Deamon and mine LTC at the same time. Free coins - but please don't spend them all at once and drop the exchange rate  - rather save them to support the many awesome world changing projects we will be sponsoring Of course cash them in if you need to that is the point

[Ethicoin]

Sounds like Devcoin 2.0. Keep it up! I like your take on having a finite supply of coins

Thank you.

We are indebted to Devcoin for the concept (and code) of receiver files. But finite supply of ETC should help ensure the value of ETC does rise over time. DVC was our inspiration this would not have been possible without DVC.

[r3wt]

*rubs beard thoughtfully*

[GSnak]

- Ethicoin will be merge mined with LTC (OK there goes one of our secrets As far as I know Ethicoin will be the first coin to achieve this.

Merge-mined coins are essentially "free", and thus worth the effort it takes to earn them.

[CLains]

Devcoin 2.0 indeed.

Which also means you have to release more information on how the spending of this 50% will be decided. Unless you are a bunch of fullblown geniuses, there is just no way you can get that part right. Also, the 50% cap is entirely arbitrary.

It is quite clear that a devcoin type thing CAN work - in principle. A kind of coin that effectively self-organizes into a society. We're talking DNA. However, how can one develop such a coin?

Either make a Devcoin 3.0 that aims solely to create a new successful coin. The reward for adopting the first coin and becoming a part of the revolutionary creation-project will come (insert ingenious solution here) when the second coin becomes successful.

Or just open-source the revolutionary creation-project of the DNA-like coin that can self-organize into a society.

There is something biblical about all of this isn't there? The second coming of the Creatørcoin that morphs into a lifelike organism, having risen from the swamp of its faithful who in due time will enter into the kingdom of Creatørcoin.

[Ethicoin]

- Ethicoin will be merge mined with LTC (OK there goes one of our secrets As far as I know Ethicoin will be the first coin to achieve this.

Merge-mined coins are essentially "free", and thus worth the effort it takes to earn them.

Exactly. We wanted to give the miners more than 10% (more than DVC - but we do love Devcoin) for supporting the Ethicoin project - and eventually we decided on 50%. It should become apparent rather quickly that holding ETC will be more beneficial to both our sponsored projects and the miner, than dumping the ETC. This is the preliminary ANN thread and much more detail is to come regarding ETC's long term strategy.

[Ethicoin]

Devcoin 2.0 indeed.

Which also means you have to release more information on how the spending of this 50% will be decided. Unless you are a bunch of fullblown geniuses, there is just no way you can get that part right. Also, the 50% cap is entirely arbitrary.

It is quite clear that a devcoin type thing CAN work - in principle. A kind of coin that effectively self-organizes into a society. We're talking DNA. However, how can one develop such a coin?

Either make a Devcoin 3.0 that aims solely to create a new successful coin. The reward for adopting the first coin and becoming a part of the revolutionary creation-project will come (insert ingenious solution here) when the second coin becomes successful.

Or just open-source the revolutionary creation-project of the DNA-like coin that can self-organize into a society.

Thank you for your feedback.

The 50% was eventually decided as a means of distribution to give miners more % for deciding to mine Ethicoin, than BTC miners currently earn mining DVC. I wish we were geniuses, but the reality is we are just idealists of which some of us can code

The foundation of the how the 50% will be distributed can be seen in DVC's code and concept of receiver files; we are still ironing out the details but these will be well and truly resolved before the official ANN thread. As discussed above we will also give plenty of time for projects to apply to be on the receiver files before launch.

Looking forward to the emergent AI driven self organizing cryptocurrency you mention

[Ethicoin]

Based on that description, it sounds...exactly like Devcoin. How will it be different from the existing currency?

imho it sounds more like another alt-coin with only changed constants + name and logo.. hope it has something better than "10 reasons why this coin is better" article

You're wrong.  Merged mining with LTC is a major innovation.  

Thank you Nolo.

We are trying to bring some innovation here by not only having a unique vision, but also through merging unique aspects of BTC, LTC and DVC while adding LTC merge mining ontop as a (we believe) essential and groundbreaking feature of ETC.

More to follow in the whitepaper and official ANN thread.

[Ethicoin]

I don't mean to spam but if anyone has a project they believe is worthy of funding (including an independent blog) please email us right now at ethicoin@gmail.com

Cheers  

TLDR; Official Ethicoin ANN thread coming soon, ETC will enable merge mining with LTC (first crypto to do this) if you're doing something awesome get in touch!), we are currently testing LTC merge mining before creating an official ANN thread.

Peace  

[fendlestick]

I fully support your motivations and direction.  Changing peoples lives for the better is more innovative and useful than anything we have seen in the last two weeks.  I hope to hear more about your project in the future.

[CoinHoarder]

Yay, a merge mined Scrypt coin!

This is what all the copy cat/scam coins of recent memory should have done all along if they wanted to become successful and stay relevant.

Also... this is somewhat similar to Devcoin which I think is a great idea for a crypto currency!

Apart from ZeroCoin, this is the only other new ALT coin I'm interested in.  

[Oldminer]

This will not work..so again, no.

[CoinHoarder]

This will not work..so again, no.

You are dumb... but I could already tell that by your Worldcoin avatar, and your statement just reinforced that assumption.

Please elaborate on your statement "this will not work". Bitcoin has proven that merged mining can in fact work. Unless you hold some secret knowledge that proves the contrary, then your statement is false.

Good day..

[relm9]

This one has sparked my interest Nice to see some innovation around here.

[markm]

Are projects that already receive DeVCoin funding eligible?

If so you can get quite a few directly from DeVCoin's receiver files.

(Such as the various people involved in Open Transactions development,just getting hold of them all and getting an address from each of them took a crazy amount of time so their entries in the receiver files represent months of work in and of themselves!)

Which reminds me, are you going to use compatible addresses like DeVCoin did, so worthy projects can be placed in the receiver files without having to go through what to them often seems like "all the hassle" of obtaining a special new address possibly even having to run a special new client? Being able to simple put people's existing bitcoin addresses into the receiver files sidestepped tons of work and huge delays it would have taken if we had made up some new address system; some people in the receiver files likely still have no specifically-DeVCoin address nor have yet exported their bitcoin donation address and imported it into a DeVCoin wallet; all those people would not have been receiving all these many many months if we hadn't used the compatible addresses method...

(Though technically I think you could also just run a conversion to whatever special new address offset; it would just make explaining the whole export from other coin, import into new coin thing seem even more confusing to some users.)

-MarkM-

[TheSpiral]

Excellent. Another "x coin for x niche". Because clearly any other coin can't do the same thing, because it doesn't state it in the name. Clearly.

[psybits]

Excellent. Another "x coin for x niche". Because clearly any other coin can't do the same thing, because it doesn't state it in the name. Clearly.

Wow. What an insightful comment on the only coin I can see that has offered anything truly innovative for months.

Personally I'm watching Ethicoin closely  

[nviere]

Nice idea