I've developed a new cryptocurrency, like to offer cash bounties to test it

[darkshot]

I have been working on a new currency these past 8 months,
which is not based on any existing cryptocurrency, which addresses
some of the limitations of existing cryptocurrencies.

Believing it is far more simple to implement than any other, just
as secure and I believe far faster when it comes to transaction
confirmations, it would be good to test all this with others who
have experience in this space.

Is the idea of offering cash bounties to find flaws in
it something I should persue? If so what would be enough of an amount
for people to be interested?

The protocol is extremely simple, yet does as much as other coins,
because of newly designed algorithms, I have come up with - but who
knows, it might not be as great as I think or could be revolutionary.

[darkshot]

The network is up and running, and is open source, however I would
like to see if the system is secure from its design, not due to bugs in the
source code.

If I offered a bounty with the following:


Find a way to either double spend a transaction or forge a transaction and
receive $1000; does this sound naive ?

I have completed a white paper for the system, and it is short, 4 pages
at best, should I post it here ?

[aplistir]

The network is up and running, and is open source, however I would
like to see if the system is secure from its design, not due to bugs in the
source code.

If I offered a bounty with the following:


Find a way to either double spend a transaction or forge a transaction and
receive $1000; does this sound naive ?

I have completed a white paper for the system, and it is short, 4 pages
at best, should I post it here ?

Post a link here, so we can see what you are talking about.
Would be interesting read

Don't know about the money reward, I would prefer bitcoins.

[amishmanish]

--snip--
Find a way to either double spend a transaction or forge a transaction and
receive $1000; does this sound naive ?

I have completed a white paper for the system, and it is short, 4 pages
at best, should I post it here ?

I think most of the now respectable ideas were fist proposed here in the form of a whitepaper or a post from the original author. Just some 12-18 months back, the discussion would have been prolific. Now it is mostly about filling space.

If you consider your idea can be revolutionary, maybe you should just go ahead and create an ANN page for it like a lot of other people have been doing. You say the network is already up and running, so if you include more people through an ANN thread, it'd be possible to test the robustness and security with adoption. Chains are getting attacked all the time these days.

If you pay someone for finding a bug without a ANN first, what is the guarantee that your idea won't be replicated? Any links here would be great.

[darkshot]

The white paper is more difficult for me to write than any of the code..

https://bitcointalk.org/index.php?topic=4041781.0


https://nofile.io/f/9nOkFrPvXJN/wp.txt

[BTCW]

Show us the code! Github is great.

We'd love to be positively surprised. In the era of ultra-bloated whitepapers, this COULD be the real deal. Good luck! Mean it.

[darkshot]

Show us the code! Github is great.

We'd love to be positively surprised. In the era of ultra-bloated whitepapers, this COULD be the real deal. Good luck! Mean it.

Thanks for that BTCW,
that does a mean a lot.

I will be releasing the code on github later this week.

[Ayobami99]

Well offering, cash prizes for bounties will be a great idea to quickly find flaws in your crypto. I would suggest utopian.io if you are looking for a platform for bug hunters if your work is open source with a license and ‘read me’. But if not bitcointalk has proven to be the best

[Ayobami99]

The white paper is more difficult for me to write than any of the code..

https://bitcointalk.org/index.php?topic=4041781.0


https://nofile.io/f/9nOkFrPvXJN/wp.txt

Lol,  that is where bounty hunters come in. Put up an ANN,  you will get your results as fast as possible