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thecoinjournal (OP)
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November 27, 2013, 09:09:42 AM |
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The key point of this new coin is usefulness, which most current altcoins don't offer. I've checked some altcoins for their utility, is it practical to use your computing power searching for a larger prime? Sounds not.
For convenience, I'll call this useful coin I want to make InvestCoin instead of betcoin, InvesCoin will be a coin as well as a decentralized casino, people can gamble or join the bankroll using this coin.
Since you should never buy any thing using a deflationary currency as long as you have fiat, as I can see, the only utility of bitcoin is gambling. So why don't we just make a new coin with this function built in?
The features of InvesCoin:
All the features Bitcoin already has;
Fast confirmation;
All coins mined displayed in the dashboard of the wallet client;
The dashboard displays everything a casino needs to display, user's balance, bankroll amount, betting options, and so on;
The profit of the casino can be distributed among all the investors, or used as reward for the miners.
Please tell me your opinions.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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JohnDorien
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November 27, 2013, 09:11:35 AM |
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Sounds like a standard copycat but with integrated casino?!
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Someminir
Member
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Activity: 61
Merit: 10
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November 27, 2013, 09:22:55 AM |
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Isnt that exactly what phenix coin was?
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thecoinjournal (OP)
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November 27, 2013, 09:23:49 AM |
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Sounds like a standard copycat but with integrated casino?!
Yes, that's what I'm thinking about. People can place bet or invest on the dashboard directly, invest or divest any time, no need to worry about the safety of the coins anymore. |
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thecoinjournal (OP)
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November 27, 2013, 09:26:52 AM |
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Isnt that exactly what phenix coin was?
This is the first time I heard about phenix coin, thank you very much. I cannot open the homepage of it, from the bitcointalk thread, it seems that phenix premined a lot. I don't think premining is a good idea. |
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Someminir
Member
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Activity: 61
Merit: 10
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November 27, 2013, 09:32:18 AM |
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Isnt that exactly what phenix coin was?
This is the first time I heard about phenix coin, thank you very much. I cannot open the homepage of it, from the bitcointalk thread, it seems that phenix premined a lot. I don't think premining is a good idea. yes, that was so they had a budget to pay people in the casino. (i think) just saw this: http://www.coindesk.com/phenixcoin-ashes-developer-goes-awol/Haven't followed the cryptoworld for a while so there might already be a copycat of phenix. |
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Wirel
Newbie
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Activity: 44
Merit: 0
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November 27, 2013, 09:41:13 AM |
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Thinking this way we would have a coin for every service, and for every website. Actually when you put your fiat money in an online casino account your fiat turns into something that you can only use on that website. I think that maybe an useful established service can spawn an own cryptocurrency but the other way around i don't know, what is the additional value?
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thecoinjournal (OP)
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November 27, 2013, 12:59:05 PM |
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Thinking this way we would have a coin for every service, and for every website. Actually when you put your fiat money in an online casino account your fiat turns into something that you can only use on that website. I think that maybe an useful established service can spawn an own cryptocurrency but the other way around i don't know, what is the additional value?
It's not designed for any site, but a decentralized gambling network. |
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defaced
Legendary
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Activity: 2184
Merit: 1011
Franko is Freedom
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November 27, 2013, 01:21:04 PM |
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A good idea is to create a casino integrated wallet. Instead of an entirely new coin, you could just have a one size fits all wallet like the QT that integrates your idea, but allows you to pick which coin to sync and use.
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Someminir
Member
Offline
Activity: 61
Merit: 10
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November 27, 2013, 01:22:28 PM |
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It's not designed for any site, but a decentralized gambling network.
Do you mean "An site" or are you expecting the coin to be used/adopted on multiple existing gambling sites? Or do you mean an actual decentralized gambling network instead of just anonymous payments? Edit: "Dear god, i'm confusing myself" |
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thecoinjournal (OP)
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November 27, 2013, 01:43:28 PM |
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A good idea is to create a casino integrated wallet. Instead of an entirely new coin, you could just have a one size fits all wallet like the QT that integrates your idea, but allows you to pick which coin to sync and use.
This would be great too, however, I think the running of the casino needs some computing power from the network too. |
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thecoinjournal (OP)
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November 27, 2013, 01:45:28 PM |
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It's not designed for any site, but a decentralized gambling network.
Do you mean "An site" or are you expecting the coin to be used/adopted on multiple existing gambling sites? Or do you mean an actual decentralized gambling network instead of just anonymous payments? Edit: "Dear god, i'm confusing myself"This coin itself has a built in gambling function, it's not any existing gambling sites which are centralized ones. It integrates anonymous payments as well as anonymous gambling and investing in the whole casino. |
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