Tips For Launching a New Coin

[nobodysbusiness]

I also suspect that bitcoin may not end up as the top coin in the long run. Bitcoin just isn't well suited to buying a cup of coffee. There may be a coin that will come along that will somehow allow very fast transactions, maybe even faster than paying through Interac. I know that there are some coins that have shortened the time-window for confirmation somewhat, but is it really reasonable to just shorten the time window to 1 second while leaving everything else the same? I think that there is room for improvement in this area, and I would like to see a coin come up that I could use every day for all my purchases.

On the other hand, maybe I'm just hoping to see Bitcoin fail because it's now too expensive for me to invest much in it.

[black_swan]

6) There Is Room For More Than 1 Coin

Unfortunately I think there isn't, until bitcoin is well established and accepted by most of the people/businesses/governments
New paradigms require time and bitcoin is way ahead

For anybody willing to release a new PoW coin:
Please spend days/weeks to mine the genesis block and release at a difficulty high enough to keep away pump-and-dump scenarios

[bgman]

I honestly think that if you are serious about your coin and want to streamline your coin, you need to have a lightweight wallet ready to go with your launch.  When I first got in to bitcoin, I skipped the client and went straight to Multibit because I didn't want to wait an eternity for my client to sync up.  Also something tells me that your grandmother will not have the patience to wait for her wallet to sync up either.

[simbo]

I honestly think that if you are serious about your coin and want to streamline your coin, you need to have a lightweight wallet ready to go with your launch.  When I first got in to bitcoin, I skipped the client and went straight to Multibit because I didn't want to wait an eternity for my client to sync up.  Also something tells me that your grandmother will not have the patience to wait for her wallet to sync up either.

+1

As lightweight wallet is relatively new, compared to standard wallet, it will take time to develop. Given the short development period of most coin, that will be a challenge.

[Nano Fiber]

I honestly think that if you are serious about your coin and want to streamline your coin, you need to have a lightweight wallet ready to go with your launch.  When I first got in to bitcoin, I skipped the client and went straight to Multibit because I didn't want to wait an eternity for my client to sync up.  Also something tells me that your grandmother will not have the patience to wait for her wallet to sync up either.

Meh. I don't think it's of utmost importance to have it ready at launch, because the blockchain will be tiny and sync almost instantly. But I do agree with you in general - there definitely needs to be lightweight clients for all the altcoins eventually. I'm not exactly sure if MultiBit is easily portable for use with other altcoins, but it's definitely a great lightweight client to use as a base.

[Caper_Barry]

Great post. There really is a need for more imaginative coin logos and names.

[BitcoinTate]

I honestly think that if you are serious about your coin and want to streamline your coin, you need to have a lightweight wallet ready to go with your launch.  When I first got in to bitcoin, I skipped the client and went straight to Multibit because I didn't want to wait an eternity for my client to sync up.  Also something tells me that your grandmother will not have the patience to wait for her wallet to sync up either.

Very good point!
+1

[DooMAD]

I honestly think that if you are serious about your coin and want to streamline your coin, you need to have a lightweight wallet ready to go with your launch.  When I first got in to bitcoin, I skipped the client and went straight to Multibit because I didn't want to wait an eternity for my client to sync up.  Also something tells me that your grandmother will not have the patience to wait for her wallet to sync up either.

Very much this.  I'm surprised Litecoin/Peercoin/Namecoin/etc still haven't really got this sorted yet.  If a new alt does come along that isn't pre-mined, has a sensible block reward scheme and mining difficulty AND has a lightweight client/wallet, it could take off hugely.  Developers please take note.

[Scooby903]

This thread needs a bump 

[Nanolucas]

Microcoin has had an excellent launch, very fair.

The only thing it's missing at the moment is a good logo, but I'd say the rest of the steps have been pretty well adhered to.

[gatra]

2) Pre-Mine No More Than 1%

NO
1% is too much.
1% of BTC is currently... about 100 million USD!
Consider this: lots of coins get dumped in the first month. 1% of all coins ever is usually about 50% of all coins mined in the first month.
So: premine 1% and after 1 month you have 50% of the market cap!