A cryptocurrency I'm working on... (IRCCoin)

[wolfmitchell]

I'm working on a cryptocurrency called IRCCoin. Alot of my friends on IRC (i'm on freenode, espernet, and obsidianirc most frequently, nick: wolfmitchell (hence why I only just got an account here, I usually stay away from forums)) have heard about it, but not the idea I came up with that would make it unique. I haven't really started on it but it's going to be a way for people to use IRC to talk to each other through the network, but transactions are used to carry data about the chat (ie. it carries privmsgs, joins, userlists, etc etc). Currently there is a release of IRCCoin (got done around a month ago, but we reset the blockchain last night for a real release.) There are only two blocks mined and that was to test it one last time to make sure it works. We currently have a website at ]http://[Suspicious link removed] (heh, I'm broke ). Some quick stats:

• There are 50 coins in a single block
• Mining difficulty retargets every half hour
• The maximum number of IRCcoin ever is 84000000
• In a single day, 720 blocks are generated

Also, yes I do know that the site says differently about the current state of the network, the data is old and I can't get the owner of the server to update irccoind at the moment... I'm fully expecting users to be against my idea, but who knows! The site now has current data.

edit: Forgot to mention that I'm having trouble getting windows binaries but the source is available for those willing to compile it.

edit 2: well, we got a subreddit now, r/irccoin. Also, if anyone can at least help me get a windows build going, please do! I have no idea how I would get all the dependencies set up for both the qt and normal cli clients for windows for cross compiling linux-x86_64 --> windows x86... (well, we have had one for a while but I never use reddit so it has no posts, it just got it's first one from me)

edit 3: also, I know the site is dead (for those that know the address, I'm not gonna risk it and post it again, I guess it got removed for a reason), the sysadmin of that server is MIA. I'm trying to find a server I'm not doing any weird apache config stuff on to forward everything to somewhere else so... it may be a while.

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[wolfmitchell]

I take the lack of response as a "oh look another cryptocurrency, next, " heh.
also, I wonder if it would be considered premining at this point.

[wolfmitchell]

Quick question, why was the link to the irccoin site removed and labeled as a 'suspicious link'?

[Snowfire]

This is not only another cryptocurrency, it is yet another first-generation cryptocurrency. To get anyone's attention, you need to be more innovative--to try to tackle some of the core issues bedeviling first-generation cryptocurrencies such as maintaining decentralization, block chain bloat, security, lost-coin policy, monetary policy, and so forth. This will take more than Bitcoin with a few parameter tweaks.

[wolfmitchell]

This is not only another cryptocurrency, it is yet another first-generation cryptocurrency. To get anyone's attention, you need to be more innovative--to try to tackle some of the core issues bedeviling first-generation cryptocurrencies such as maintaining decentralization, block chain bloat, security, lost-coin policy, monetary policy, and so forth. This will take more than Bitcoin with a few parameter tweaks.

Well, before I start cracking on issues (other than essentials like security) I want to try to at least get some of the implementation of irccoin done. The fact that I am still learning C++ and I have no idea how to use Boost doesn't really help, hence the post on Reddit about me looking for devs to try and help out. I'm more of a learning-from-code-and-experience kind of guy, so...

[standards]

This is not only another cryptocurrency, it is yet another first-generation cryptocurrency. To get anyone's attention, you need to be more innovative--to try to tackle some of the core issues bedeviling first-generation cryptocurrencies such as maintaining decentralization, block chain bloat, security, lost-coin policy, monetary policy, and so forth. This will take more than Bitcoin with a few parameter tweaks.

Well, before I start cracking on issues (other than essentials like security) I want to try to at least get some of the implementation of irccoin done. The fact that I am still learning C++ and I have no idea how to use Boost doesn't really help, hence the post on Reddit about me looking for devs to try and help out. I'm more of a learning-from-code-and-experience kind of guy, so...

then you must have very innovative ideas to survive in Altcoin ecosystem.

[wolfmitchell]

This is not only another cryptocurrency, it is yet another first-generation cryptocurrency. To get anyone's attention, you need to be more innovative--to try to tackle some of the core issues bedeviling first-generation cryptocurrencies such as maintaining decentralization, block chain bloat, security, lost-coin policy, monetary policy, and so forth. This will take more than Bitcoin with a few parameter tweaks.

Well, before I start cracking on issues (other than essentials like security) I want to try to at least get some of the implementation of irccoin done. The fact that I am still learning C++ and I have no idea how to use Boost doesn't really help, hence the post on Reddit about me looking for devs to try and help out. I'm more of a learning-from-code-and-experience kind of guy, so...

then you must have very innovative ideas to survive in Altcoin ecosystem.

So I should try and tackle those problems first?

[peterlustig]

Call it a beta.

[standards]

This is not only another cryptocurrency, it is yet another first-generation cryptocurrency. To get anyone's attention, you need to be more innovative--to try to tackle some of the core issues bedeviling first-generation cryptocurrencies such as maintaining decentralization, block chain bloat, security, lost-coin policy, monetary policy, and so forth. This will take more than Bitcoin with a few parameter tweaks.

Well, before I start cracking on issues (other than essentials like security) I want to try to at least get some of the implementation of irccoin done. The fact that I am still learning C++ and I have no idea how to use Boost doesn't really help, hence the post on Reddit about me looking for devs to try and help out. I'm more of a learning-from-code-and-experience kind of guy, so...

then you must have very innovative ideas to survive in Altcoin ecosystem.

So I should try and tackle those problems first?

Take a look at all the other coins, see how they works. Sure there are many coins just for pump and dump, or simply scams.
If you are serious about this IRC, i hope so, you must think thoroughly and provide something different.

[wolfmitchell]

So, quick design question for it: I'm thinking of using an HTTP proxy for letting people connect to the network. (ie. only through a certain IP that is in the config, randomly generated if not set, same with port.) My question is, how would I actually do the proxy? Would I make an interface that proxies can interface with in the irccoin client? (via json-rpc) Or would I integrate the proxy with the irccoin client? I am thinking the json-rpc idea because people can write their own proxies for it, but I wanted to get a second opinion on it.

[Ix]

The first question that pops into my mind when thinking about the basis of your idea is: what does this solve? If encrypted communication is the goal, there are many other and probably more secure ways to do that. And they're free. And they will require a lot less bandwidth to use. A block chain-based design like bitcoin is more suitable to occasional messaging (like bitmessage), or perhaps a newsgroup type application. Since bitmessage has already been done, it might be interesting if you think more in terms of newgroups. IRC is too spammy to just hack into bitcoin without significant modifications to the way the protocol works.

[wolfmitchell]

The first question that pops into my mind when thinking about the basis of your idea is: what does this solve? If encrypted communication is the goal, there are many other and probably more secure ways to do that. And they're free. And they will require a lot less bandwidth to use. A block chain-based design like bitcoin is more suitable to occasional messaging (like bitmessage), or perhaps a newsgroup type application. Since bitmessage has already been done, it might be interesting if you think more in terms of newgroups. IRC is too spammy to just hack into bitcoin without significant modifications to the way the protocol works.

meh, I guess one last post before I go to sleep won't hurt.
So basically make it into a forum-type thing?

[Ix]

meh, I guess one last post before I go to sleep won't hurt.
So basically make it into a forum-type thing?

I guess, seems more plausible of an idea to me. It would still require a lot of effort to pull off well though, and I'm not convinced it is going to solve a problem.

You should try to answer these questions before embarking on this venture: what is the problem you are trying to fix? how will this solve it? If you can come up with some interesting answers, maybe you're on to something.

[wolfmitchell]

meh, I guess one last post before I go to sleep won't hurt.
So basically make it into a forum-type thing?

I guess, seems more plausible of an idea to me. It would still require a lot of effort to pull off well though, and I'm not convinced it is going to solve a problem.

You should try to answer these questions before embarking on this venture: what is the problem you are trying to fix? how will this solve it? If you can come up with some interesting answers, maybe you're on to something.

basically, I'm trying to solve the problem of having to rely on a central server (or central group of servers) for communicating over the Internet. This solves it by making a peer-to-peer communication system.

[Ix]

basically, I'm trying to solve the problem of having to rely on a central server (or central group of servers) for communicating over the Internet.

But you don't have to rely on a central server. You could host your own IRC server if you want without much hassle. Is DirectConnect still around? It used to be a very easy way to set up a chatroom that was hosted on any computer that had the client software. It also didn't require payment, and it still never got very popular.

A P2P instant messaging form of communication is going to require a lot of duplicated bandwidth among nodes that don't care about most of the data, and it will introduce pretty high pings as you must wait while every message propagates the entire network. And you are introducing a currency that must be used to pay for it, and presumably some form of energy consuming mining. On top of that, presumably every message would have to be digitally signed and verified, even a lowly "" to transfer and prove payment for the message. (Sorry for all the "presumably"s, but I haven't the time to look at your code.)

I don't mean to sound harsh, but there are some pretty big obstacles to making this something that is more than "IRC, but you pay for it! And it's fairly slow and bandwidth and CPU intensive."

The concept of P2P IRC on its own is not a bad one, but I do not think it will work tied to a currency with a bitcoin block chain.

[matu]

Now is your chance!

I wanted to remind everyone that in less than TWO HOURS we will have our next drawing, this means we will be adding two more coins to our exchange!
Also we just opened the LTC and DGC markets
 
Vote now! @ https://www.cryptoaltex.com/index.php?page=newcoin