★★ [ANN] [CRD] Credits, a new crypto with real innovation ! ★★

[zackclark70]

I am in the proses of updating this so please have another look later
Thanks
Zack

This is not the final logo there will be a bounty for the best design it will be in my second post on this thread  



This is not the final logo there will be a bounty for the best design it will be in my second post on this thread  


The parameters are as follows:

Name: Credits
Block reward 1,000                                                                              changed from 10,000
Block time 30s
Total credits 60 billion        10 coins per person (everyone on earth)        changed from  600 billion / 100 per person
Difficulty change every 60 blocks (30m)
Start difficulty 0.1
Pre-mine ZERO!
First 1440 blocks 100 credits to make it a fair launch (the first 12h)
A transaction fee of 0.01%   (a percentage is preferable over a fixed fee)

To stop people spamming the network with micro transactions the minimum you will be able to send is 1 credit for the first 6 months (525600 blocks) 6 months after you will be able to send half credits and every 6 months after you will be able to send smaler and smaler amounts

It will be available to download at least 30 days before being released in an encrypted file with a very strong password.

The total amount of credits would be such that there would be at least 100 units per person on the planet.

New features

I am working on having an alternate wallet with built in instant messaging.
A transaction fee of 0.01%
Pre-mine ZERO!  (That’s new isn’t it?)
Resistant to "the coinchoose"-effect


Credits will not be released until I am confident that everything I am trying to do will work as planned.

[bennett616]

I will hapily run a faucet at www.freebitcointips.co.uk if you wanted

Andy B

[zackclark70]

I will hapily run a faucet at www.freebitcointips.co.uk if you wanted

Andy B

thanks for your offer


thanks


zack

[NWO]

I think you should reduce the reward size to counter inflation. Not every single person in the world will have 100 coins each as a select few on these forums will reap in 100,000's so this is flawed. Also derivatives less than 1 can be used just like with bitcoin.

[jeannie]

The problem is by the time your alt coin get started, there is no one to prevent your coin from being listed in exchanges and being pump and dump.

[Hazard]

being able to send a 100 character mesage when sending coins  ( to beable to tell people were it is from / can be used to send mesages using a small transaction

No good. The amount of blockchain bloat created from that combined with 30 second blocks would quickly make the chain unusable.

There's been talk of a bitcoin based messaging protocol, but combining a currency with that would be suicide.

[zackclark70]

I think the parameters of the coin are about right

if it is to succeed it wouldn’t matter if it is  dumped to start with it will be around 10,000 credits to a ltc so it should start by being worth next to nothing I will be messaging big Vern before it is released so I will hopefully be on an exchange from day 1

I don’t think everyday people will want to work with part coins (the main reason I don’t use bit coin as much as ltc


NowI think for it to succeed there needs to be enough coins to eventually go around everyone

It will take 57 years to get to the end of the block chain


It will be the fairest release in alt crypto history (will be distributed in an encrypted file before hand and the code will be given at the time of release)

zack

[zackclark70]

Updated the OP.

[bittick]

not hijacking your thread or anything, but isnt this something you have in mind?

https://bitcointalk.org/index.php?topic=220530.0

[Joerii]

not hijacking your thread or anything, but isnt this something you have in mind?

https://bitcointalk.org/index.php?topic=220530.0

No time to read through the entire OP of eMunie, but ... does it support messaging ? Could you make a bit more specific link ?

[Fuserleer]

Yup there's a messaging protocol built on top of the transaction protocol.

Will just be simple text to start with, but will allow secure file transfers in the near future.

The messaging works as a broadcast and relay model, with a retention time.  So the messages just go round and round until they either die or everyone on the network has received it.  That way it's very hard to find out the origin, there's a specific time limit to do so and there is no chance of anyone figuring out the recipient.  If you client comes across a message meant for you, it is decrypted and relayed on anyway.

[zackclark70]

being able to send a 100 character mesage when sending coins  ( to beable to tell people were it is from / can be used to send mesages using a small transaction

No good. The amount of blockchain bloat created from that combined with 30 second blocks would quickly make the chain unusable.

There's been talk of a bitcoin based messaging protocol, but combining a currency with that would be suicide.

FastCoin is working well and that has a 7 sec block time, so I think 30 sec will be more than ok !

[usscfounder]

You gave one really good idea that I think everyone should take seriously:

A transaction fee of 0.01% because I think a percentage is preferable over a fixed fee.

[BitJohn]

This coin will not be released until I am confident that everything I am trying to do will work as planned.

An idea recently came to me whilst I was sending some PXC to a friend...

Wouldn't it be great if it were possible to to send a text message with a transaction ? I started sending PM's to people to gauge if this is possible and how it could be done, and I got a lot of encouraging feedback. All I had to do was find someone that could code it. Also I needed to figure out the rest of the coin ; what crypto would I model it after, or would I design something from scratch ?

The first idea that popped into my head, was that the ammount of total coins would be such that there would be at least 100 units per person on the planet, which would put the number at....at least  600,000,000,000


The rest of the parameters are as follows :

Name : Credits
Block reward 10,000 block reward and time have to me like this to get all the credits in circulation in less than 60 years
Block time 30s
Total coin 600 billion 100 coins per person ( everyone on earth )
Difficulty change every 60 blocks ( every 30m )
Start diff 0.1 even if it started at 0.0001 it would sort itself out in 60 blocks ( 30m )
Pre-mine ZERO !
First 1440 blocks 100 credits to make it a fair launch
If I can get all this sorted it will be available to download at least 30 days before relece in an encrypted file with a very strong password

These are the innovations I would love to see implemented :

- A transaction fee of 0.01% because I think a percentage is preferable over a fixed fee.
- Being able to send a 100 character message when sending coins ( for example :  a short note describing the origin of the payment )

I do not want this to be another pump and dump coin.  I am looking for people to help me implement my ideas, and also contribute to this project in other ways.

( I can’t code to save my life but I am learning )

I would be very happy if you don’t troll in my thread
I would be very happy to hear constructive feedback


I know my spelling is bad I am working on it ( Joerii edited this for style and spelling  )

So what I’m looking for is anyone that can help me with my goals... I would like to hear from you !

Thanks for your time I look forward to reading your replies.

Zack

I wish you would wait until the current alt flood dies off credits is a great name and not sure this is the best concept for the name. Lots of coins super huge blocks and well you cant really support the coin since you cannot code.

[zackclark70]

I wish you would wait until the current alt flood dies off credits is a great name and not sure this is the best concept for the name. Lots of coins super huge blocks and well you cant really support the coin since you cannot code.

We will be waiting for the alt coin chaos to die down a bit.
I am looking for somone to join the team that can code ( I can do very basic code ) and is willing to stick around for future development.

Credits WON'T be released until I'm completely satisfied that it's a viable and useful addition to the altcoin scene.

[zackclark70]

Update : A great looking logo should soon be finished, stay tuned !

[rqdxrocket]

This coin will not be released until I am confident that everything I am trying to do will work as planned.

An idea recently came to me whilst I was sending some PXC to a friend...

Wouldn't it be great if it were possible to to send a text message with a transaction ? I started sending PM's to people to gauge if this is possible and how it could be done, and I got a lot of encouraging feedback. All I had to do was find someone that could code it. Also I needed to figure out the rest of the coin ; what crypto would I model it after, or would I design something from scratch ?

The first idea that popped into my head, was that the ammount of total coins would be such that there would be at least 100 units per person on the planet, which would put the number at....at least  600,000,000,000


The rest of the parameters are as follows :

Name : Credits
Block reward 10,000 block reward and time have to me like this to get all the credits in circulation in less than 60 years
Block time 30s
Total coin 600 billion 100 coins per person ( everyone on earth )
Difficulty change every 60 blocks ( every 30m )
Start diff 0.1 even if it started at 0.0001 it would sort itself out in 60 blocks ( 30m )
Pre-mine ZERO !
First 1440 blocks 100 credits to make it a fair launch
If I can get all this sorted it will be available to download at least 30 days before relece in an encrypted file with a very strong password

These are the innovations I would love to see implemented :

- A transaction fee of 0.01% because I think a percentage is preferable over a fixed fee.
- Being able to send a 100 character message when sending coins ( for example :  a short note describing the origin of the payment )

I do not want this to be another pump and dump coin.  I am looking for people to help me implement my ideas, and also contribute to this project in other ways.

( I can’t code to save my life but I am learning )

I would be very happy if you don’t troll in my thread
I would be very happy to hear constructive feedback


I know my spelling is bad I am working on it ( Joerii edited this for style and spelling  )

So what I’m looking for is anyone that can help me with my goals... I would like to hear from you !

Thanks for your time I look forward to reading your replies.

Zack

Zack I believe I was the 1st person you traded with on here.  Please don't forget about me when you plan on starting this - thx 

[zackclark70]

Zack I believe I was the 1st person you traded with on here.  Please don't forget about me when you plan on starting this - thx  

I think you were the 2nd  because the first  person stole 1000pxc from me 

Could you or anyone you know  help with  with this project ?

Thanks  !

Zack

[saamxx]

What's the diffirence with this one - https://bitcointalk.org/index.php?topic=225891.0 
zero premine
9 coins/human (total 90 billions)
30 seconds block target
It's already launched!!!

[zackclark70]

What's the diffirence with this one - https://bitcointalk.org/index.php?topic=225891.0  
zero premine
9 coins/human (total 90 billions)
30 seconds block target
It's already launched!!!

I haven't seen that before. ( My idea was at least 2 days before the release of that coin )  I still have a couple of new ideas to add to my coin.
I think it will all work out in the end



EDIT :

Main differences :

10,000 blocks
600 billion coins
0.01% transaction fee
A Messaging function

...and a couple of other ideas I am still working on

Also :  Infinitecoin will mine all coins in less than 1 year, were as credits will take 57 years.