Discworld scrypt coin

[Kruncha]

that sounds good. I'll split the difference and go w/ 120mil, block reward halving every 2 years w/ a minimum of 1 coin reward.   as for the fund, I agree that 2.5 to 5%(a poll might be set up to decide more exactly) being set aside in an account until it makes sense to convert. what does FIAT mean? I've seen it a lot, but never really understood it.  If Alzheimer's gets cured(something fervently hoped for), then I agree we should hold a vote to see which disease/condition/cause should get the proceeds.

Discouraging miners is a bad thing, both for the future of the coin, and any good that it could possibly do. Is there a way to make the account that the fund % goes into transparent, so that anybody interested could see how much is in it, and if "money' gets drawn out? that way honest folks can be kept honest.

Well provided there is a block explorer, I believe making the address public would make it transparent?

right... I knew that(it's been a long day).

Would there be a good coin model out there to use for this? I know that IFC has the diminishing return, but I think that;s after x number of blocks, not x years.

FIAT = Currency controlled by a government or central bank - http://en.wikipedia.org/wiki/Fiat_money - sorry, it's just a wiki, but you get the idea.

I would personally suggest a Quark based coin - it's not going to be affected if/when scrypt ASICs ever become a reality.

K.

[rmhuntley]

Thanks for the link. I know they've been threatening asic-based scrypt miners.

[Kruncha]

Thanks for the link. I know they've been threatening asic-based scrypt miners.

If they release scrypt miners, it will strengthen the networks of those coins, not weaken them. Coins with multiple algorithms will still be GPU only (not subject to bot-nets so much as they are now), and will thrive for those who don't have a lot (I am only up yo 700khs - I never had money to invest, and there's no easy way to convert bitcoin to cash in the UK).

I may be a senior member here, but I'm still skint, lol

K.

[rmhuntley]

after thinking about it for a bit, I think I want the starting diff to be 1. that will still make it easy, but not stupidly easy, to mine coins.  Quark is a good suggestion, as it can be mined w/ both CPU and GPU successfully.  I think I"m going to start hunting down a dev here soon and getting some quotes.

[lemfuture]

why dont you make a poll with a yes/no. infact all pre launch shouldve

[rmhuntley]

a poll w/ a yes/no for what? exactly?

[rmhuntley]

ok, so I've been asking around for developers that are familiar w/ quark. Nothing so far, but will keep updating. Anything else that anyone can think of that might be a good addition?

[rmhuntley]

While still looking for a dev(this is proving tough to find), I"ve been thinking about some of the parameters that I"d like the coin to have. What do you think of these?

90sec block generation
1024 coins per block, halving every 60k blocks
reward will never drop below 5 coins.
No premine
3% of each block set aside in an account for the Alzheimers society

as always, input is a good thing, so let's hear ideas, criticism...ect