Any experienced sha256 coin makers wanna make .4BTC?

[sacskate]

im looking for someone with some experience to help me with a project that im starting. coin will have a fair launch.  cannot be premined. you will need to be able to adjust the difficulty and block reward. (I am looking to start the coin at extremely high difficulty with a high block reward, and adjust the block reward and difficulty down as the network hash rate goes up) I will be launching a full website, app, pool, and store where the coins could be used to buy merchandise at actually reasonable prices, and coins can be traded in for BTC. please pm me if interested with previous projects that you have been involved with.  

[JoelKatz]

If the hash rate goes up and the difficulty goes down, the rate at which blocks are discovered goes through the roof. How will servers agree on which chain is the right chain? Imagine you have 15 chains all extending at the same time at a rate of several blocks a second -- how do you make sense of that? The vast majority of mining effort will be completely wasted because it was built on a losing chain. This design makes no sense.

[sacskate]

not possible then? what about adjusting the block reward to go up as difficulty does? any better ideas? id just like to try something that would keep the payout of coins the same depending on how much computing hardware you have. and not how much you have compared to everyone else

[n01d3x]

Seems like op is trying to level the playing field maybe and try to make somewhat stable payouts. The amount of coins you get now goes down as difficulty goes up, unless you increase your hashing power. I think op is looking for a way to combat that. So basically xxxx hash will always get you xxxx coins, only the value of the coins can go up or down. I have no clue how one would implement this or if it's even what op is wanting to accomplish.

[tadakaluri]

Interesting and waiting for it.

[sheinsha]

Seems like op is trying to level the playing field maybe and try to make somewhat stable payouts. The amount of coins you get now goes down as difficulty goes up, unless you increase your hashing power. I think op is looking for a way to combat that. So basically xxxx hash will always get you xxxx coins, only the value of the coins can go up or down. I have no clue how one would implement this or if it's even what op is wanting to accomplish.

I must say that i like that concept, even if thats not what the op wants.

[sacskate]

thats exactly what im trying to work out. any other ideas?

[JoelKatz]

Seems like op is trying to level the playing field maybe and try to make somewhat stable payouts. The amount of coins you get now goes down as difficulty goes up, unless you increase your hashing power. I think op is looking for a way to combat that. So basically xxxx hash will always get you xxxx coins, only the value of the coins can go up or down. I have no clue how one would implement this or if it's even what op is wanting to accomplish.

Then you want to adjust the difficulty normally to keep block generate stable but adjust the block reward based on the difficulty, I think. The problem is that the rate of coin creation will increase exponentially through all time, making the coins most likely a lousy store a value.

[n01d3x]

Do you think more = lower value simply because as of now, the value of a coin is strictly based on exchange activity? I mean if op really has the plan/means to release a store with the coin wouldn't that affect value more? Say you can buy an item that's worth $10 for 10 coins, but the going exchange rate is only 50 cents, wouldn't there be the incentive for someone to buy the item and resell it versus trading the coin? Wouldn't this have an affect on exchange rates as well? It seems we are limiting our progress on altcoins because we are only focusing on current market conditions, which is strictly tied to how many btc you can get for your coins.

Edit: question
 
Is there any way to limit hashing power per ip?

[sacskate]

bump

[r3wt]

Is there any way to limit hashing power per ip?

i've been exploring this, and so far, the answer is no. perhaps a more experienced coder, or dare i say a real bonafide programmer could accomplish it easily, but for the rest of us its a pipe dream

[n01d3x]

What about a way to make the coin pool only and limit hashrate  with the pool?

[Lauda]

Interesting and waiting for it.

Waiting and interesting for it.

[mustyoshi]

Orphancoin.

I like it.

[sacskate]

what do you think of a block reward that increases as the difficulty rises. thus continuing to pay workers for the work that they are doing at a simular rate. it would look something like this.

diff.      reward
.0-.5 = 5
.5-1  =7.5
1-1.5=10
1.5-2=12.5

at this rate the revenue would be consistant right? I fully understand that increasing block rewards can possibly devalue the coin. what do you guys think?

[crendore]

You will eventually end up with a block reward that looks like this
http://bitcoindifficulty.com/

The coin eventually be worth $0.

There are lots of really cool ideas in the original implementation of bitcoin. Not all of them need to be "improved upon".

[JoelKatz]

at this rate the revenue would be consistant right? I fully understand that increasing block rewards can possibly devalue the coin. what do you guys think?

This won't help miners -- creating more coins doesn't create more value. All you've done is ensured that people who hold the currency get screwed by increasing difficulty as well.

[sacskate]

total coins created could be the same. with bitcoin the block reward started out high when less hardware and workers were present. flipping the reward system and starting out small and increasing the reward as more hardware is thrown at it. the total coins created could be the same. instead of cutting the reward in half every four years it would increase slightly every month or so

[gatra]

It is possible, and yes, you may have some inflation for some time, which may be a good or a bad thing, I can't foretell. Reminds me of elacoin.
The easier would be to have difficulty adjust to have blocks each n seconds, and then reward = K * difficulty.
This should make a reward tied to your hashrate. You may want to adjust K for Moore's Law, for example start with 1 and halve every 2 years, under the assumption that 1GHps today should be worth more than 1GHps from 2 years in the future where hardware is faster/cheaper.
So mining power increases reward, passing time decreases reward, the balance between these will decide the amount of coins to be ever created, which may be infinite or may converge to a fixed sum, depending on coin adoption and the ability of hardware to keep up with Moore's Law.
If you are serious about paying for having this developed, PM me.

cheers!
gatra

[r3wt]

^^This guy right here should make a damn coin. i'd mine it