Brand new kind virtual currency - CAPTCHA coin

[freigeist]

It's not a good idea, your coin will be open source, so after it's not difficult to reverse engineer a CAPTCHA.

Are you developer? It's matter of design. Your computer will not produce the image for you, so you will not able to do any reverse engineering. P2P network will produce the images and will distribute them randomly between peers.

Let's think. Is bitcoin changing the system. I think not exactly. Who can buy ASIC- only the rich. If they want, they can buy the most powerful ASIC or quantum computers (I'm talking about banks, corporation as google, apple, microsoft ...), so they will get the coins. It's a lost cause.

This statement is not fully true anymore:
"Bitcoin is ... nobody owns or controls Bitcoin and everyone can take part. "

I agree with you!
The system actually never changes!

People or families that were once in power are always in power.
Look at the eastern european countries "new democracies" who is on power in this countries today!
Same communist motherfuckers ex KGB bastards are the richest and hold every key position in every eastern European country.

Therefore the same applies to bitcoin alt-coin.
Who has or owns more FIAT currency  will also own more crypto currency in future.

Anyway related to the captcha thing I found an interesting article maybe will be of good use.

http://www.forbes.com/sites/singularity/2012/08/28/artificial-intelligence-will-defeat-captcha-how-will-we-prove-were-human-then/

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[drduck]

I really like this idea! And apart from the kind of solution you suggest it is a real problem.
Cryptocurrencies have the potential to change the system. But at the moment, as you
said, its not much different then USD. Rich people (who jumped on BTC early or have
a lot of capital) get richer with big mining rigs or trading and poor people cannot participate
like they should!

[snailbrain]

yeah its an ok idea, although i agree that there would be much better ways to require human input. how about a need for speed coin where every x amount of minutes there is a race in a game like need for speed and the winner of said race is reward with one block of coins.  that way you can't use child laborers (or at least if you do they will have fun!)  and you can accurately predict the generation curve.  You could make the tracks more and more difficult as more miners (ie racers) join the game.  

Somewhere I've seen some ads about a minecraft server where you can get BTC for building or mining something. Maybe the easiest solution would be an EVE online ISK/BTC or an ISK/some altcoin exchange.

https://bitcointalk.org/index.php?topic=300538.0

soon

[iskren_ivanov]

I really like this idea! And apart from the kind of solution you suggest it is a real problem.
Cryptocurrencies have the potential to change the system. But at the moment, as you
said, its not much different then USD. Rich people (who jumped on BTC early or have
a lot of capital) get richer with big mining rigs or trading and poor people cannot participate
like they should!

And this s why the world (the ordinary people) will not hug the bitcoin in this form. It must evolve or will be replaced by another currency.

[QuantPlus]

I really like this idea! And apart from the kind of solution you suggest it is a real problem.
Cryptocurrencies have the potential to change the system. But at the moment, as you
said, its not much different then USD. Rich people (who jumped on BTC early or have
a lot of capital) get richer with big mining rigs or trading and poor people cannot participate
like they should!

And this s why the world (the ordinary people) will not hug the bitcoin in this form. It must evolve or will be replaced by another currency.

I agree with your philosophy...
But CAPTCHAs are the most hated thing in the world...
They are onerous... and frustrating... and boring... and boring... and boring... and boring.

If your creativity ends at CAPTCHAs... just get a fucking job.

[aa]

CRAPTCHA coin -- India's new national currency.

[gatra]

nice, but the problem I see is this: how would you create the images?
in the OP you say "The p2p system will produce CAPTCHA images...". Then on another you said "Your computer will not produce the image for you"
so... how would the image be generated?
the problem is that the computer, person, or whatever, that generates the image already knows the answer, so it could "cheat" and create a new block and earn $ without effort.
and if the image is created in a way that nobody knows the answer, then... how could the system verify that the answer is right?

sorry, a captcha cryptocurrency is not possible unless you figure this out

[Neo8]

sorry, a captcha cryptocurrency is not possible unless you figure this out

This is not possible if the coin is open source (reverse engineering will be easy), but it's possible with a closed source code. But if it's closed nobody will use it.

[cowandtea]

It would be interesting if there is unique captcha, like mini games, some maths question and shoot the bird.

[Shallow]

Into the bin it goes...

[rix5]

any captcha will be cracked for bots if much money is on the table. This idea is really bad.

[cowandtea]

I really like the idea that everyone have equal way to get the coin instead of powerful GPU or ASIC, but really need a better choice then captcha.

[satriani]

maybe think about something which do not absorbe the power, but 1CPU,1specification of hardware = 1 share. Or something like POS, the longer you have open your Wallet, the better chance to find a block.

[drduck]

maybe think about something which do not absorbe the power, but 1CPU,1specification of hardware = 1 share. Or something like POS, the longer you have open your Wallet, the better chance to find a block.

But then again, people with a lot of resources can generate more coins. I guess human work = shares is still a better idea. But captcha is obviously not the best solution.
I don't know what is out there that is not solvable by machines and impossible to solve through reverse engineering. But for every problem there must be a solution.

Don't just say: it doesn't work, into the trash with this thread. Because this is at least an idea worth developing.

[iskren_ivanov]

May be you are right, may be they will make bot for CAPTCHAs, no matter how well protected they are.
If CPU=shares, so the rich can buy thousand of CPU, so this is not a solution.
We must think about "human work = shares".
The CAPTCHA is the best way for now to distinguish human from machine, but it is still not reliable enough.
I have not other idea for the moment.

[Snail2]

sorry, a captcha cryptocurrency is not possible unless you figure this out

This is not possible if the coin is open source (reverse engineering will be easy), but it's possible with a closed source code. But if it's closed nobody will use it.

Not even possible with closed source. Everything is open source if you know how to use a disassembler and a debugger.

There are a couple of opensource or free captcha implementations. You can embed it into the client or you can use it on the "pool" servers. The only issue with the second solution is the relative centralized nature as you need the captcha servers to keep the coin working. Writing a distributed solution where everything included in the client would be a lot of work but it could work well.

[markm]

Are you conflating initial distribution of your currency with the ongoing and very not-profitable business of securing your currency?

Remember that mining is ultimately a race to the bottom, it is, by design, the type of business in which profit will be almost non-existent because if you try to remove something to take as profit you are crippling your own ability to compete with competitors who don't need as much profit or who have cheaper labour/power or whatever.

So first off, totalyl separate the matter of securing the blockchain from the matter of who gets how many of the currency in the first place.

You want something like ASIC for securing the coin, because securing the coin is damn close to zero profit, the only reason there are any transaction fees at all are not so that there will be profit to lure people into mining but more so that there will be a budget out of which people can try to secure the damn coin hopefully without so much parasitical freeloading, also known as profit-taking, that the parasites take so mcuh as what they consider their "entitlement" of "profit" that there is nothing left to actually secure the damn coin.

Mining is not meant to be profitable, it is meant to be feasible, that is, people who can get really good prices on power and parts and support and bandwidth should be able to "afford" to mine, hopefully without having to skip any meals to keep the miners running.

So just totally forget about mining as a source of income for anyone. Focus on who do the coins created originally get given out to originally.

For one thing you can then hopefully see that it would be better to give out actual bitcoins than to make up some new coin, because some new coin is less likely to have enough transaction fees going on to finance the securing of the blockchain. SO ideally you want a coin that, like bitcoin, already has lots of transactions going on, so that there is some hope that securing the chain can be doing not by giving way new coins created out of thin air but, rather, by people who want transactions done paying to have their transactions processed.

Giving away money is a totally separate concern. It should be none of the miners business who you give away your money to, who ever wants to give money to someone should simply pay their transaction fee like anyone else to have some of their money be transferred to someone else.

Maybe you would be best off using Ripple source code instead of Bitcoin as your basis to build from, because with RIpple type approach you do not have that insanely huge expense involved in securing your currency. YOu can simply print a hundred billion coins and give them away to anyone you wish, whether by having them solve captchas or give you blowjobs or however else you'd like to choose who to give the stuff to.

-MarkM-

[gatra]

sorry, a captcha cryptocurrency is not possible unless you figure this out

This is not possible if the coin is open source (reverse engineering will be easy), but it's possible with a closed source code. But if it's closed nobody will use it.

Not even possible with closed source. Everything is open source if you know how to use a disassembler and a debugger.

There are a couple of opensource or free captcha implementations. You can embed it into the client or you can use it on the "pool" servers. The only issue with the second solution is the relative centralized nature as you need the captcha servers to keep the coin working. Writing a distributed solution where everything included in the client would be a lot of work but it could work well.

You are missing the point. How would you generate the capthas? The clients or the pool owners need to know the answer in order to generate the captchas. So they could cheat, and tell the answer to a friend and earn $ for nothing.

The problem is not the bots (at least not only the bots). Imagine there was a perfect captcha, with images, sounds, or whatever, that only humans could solve. Who would generate the challenges and then verify the responses?

[mxmz.in]

The following design is possible:

1) miner ONE (human) makes a captcha and the client app submits it to a pool server
2) miner TWO (human) gets a random captcha from a pool server and submits back the answer
3) random p2p clients (human) get both the original captcha and the answer and verify that the answer is correct

4) if the answer is correct a block is created and miners ONE and TWO get a reward
5) p2p clients also get a small reward but for just verifying (kinda transaction processing), regardless of whether the answer was correct and their intention is to keep the blockchain healthy as only then their earnings make sense

* depending on how many p2p clients verify the answer the number of confirmations limits the coin supply processing speed and security
* pool server is a p2p node in the network
* a captcha can be anything, no software will understand it

the coin should be called HumanCoin

[Thylacine]

This seems terrible. Isn't this like Primecoin? But instead of the scientific output being mathematically interesting prime number chains, the output is millions of solved CAPTCHAs for spammers to post Viagra links on Wordpress blogs?