REQUEST: Requirements for new ALT Coins.

[BittBurger]

This is a note to BadBear and other mods:

Would you guys consider implementing a rule requiring all new alt coins to be submitted for evaluation based on legitimacy, innovation, and proficiency in implementation?   I don't know if that means fulfilling a checklist of basic requirements, or undergoing a quick evaluation first.  I think this would be manageable because legit coins will be few and far between, and more importantly, the nonsense will drop off immediately.  With the release of the new 'Make your own Alt coin' tool - this move is even more necessary right now.

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I am fairly new here.  But I think people need to remember the big picture. 

I became involved in this community because I was interested in seeing the innovation going on in the cyrptocurrency realm.  A lot of respected people in the Bitcoin world look to the ALT coin community as a testing ground for possible future value-added features which could be included in the Bitcoin protocol.  In fact, quite a few Bitcoin trash talkers are currently being silenced with this reminder, that the ALT community may very well provide solutions to Bitcoins biggest problems. What is actually developing here however, is Romper Room.  Gone are the days of Namecoin, Peercoin, Litecoin, and the like.  The alt coin community has a very important role in the future of world economies. 

True innovation, creative thinking, and qualified developers should be putting out new coins.  Nobody else.  Maybe in another subforum titled "Shit Coins".  Maybe all the good ideas have been taken.  I don't know.  But I think its hurting everyone here to allow this to continue.  PS:  To all my fellow pump and dump fans ... no offense.  I am all for making quick money.  Its a free market.  But even pump and dumps should have a legit gimick, or you waste your time mining.  Noodly Appendage Coin for example...

-BittBurger-

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[Brilliantrocket]

Great idea! Too many carbon copy coins out there. If your coin brings nothing new to the table other than modified block values, retargeting times or a different icon, it probably shouldn't exist.

[digicoin]

I believe that we need to persuade people to kill Litecoin and PeerCoin first

[SuzukiAkito]

I'm new to all of this but I do agree that the recent new altcoins are.... lol

It's all just a way to make easy cash for those with the hardware for most of the coins lately. Not many coins are really attempting anything new...

[leetmodz]

Great idea!

[singula]

I guess we shouldn't bee too strict (free market, etc ...), but it would be nice to have some minimal requirements for common PoW coins:

1. Having the source code, ideally on a git repo.
2. Having some stable initial node (specified in the code), so no gimmicks with .conf files are necessary to start the coin.
3. Having key parameters (block reward, retarget, type of PoW algo, possibly size of premine.... ) specified in the announcment.

And ideally have at least some of the following;
* a pool
* windows wallet
* some service(s) - faucet, block explorer, shop, gaming site, whatever ...

For at least somewhat new/innovative coins (that brings at least one new algorithm somewhere inside) perhaps require only first point (having source).

[surfer43]

yes. coins that actually innovate are buried

[kalus]

I believe that we need to persuade people to kill Litecoin and PeerCoin first

[Mortimer452]

I agree with this for the most part.  I am new here as well, started getting into cryptos just a few months ago, but ever since DOGE proved to the world that you can create a successful coin on nothing more than a childish meme, it's getting ridiculous.

Far more important than limiting the announcements here, I think, is getting Cryptsy, CoinedUp and CoinEx to have some requirements as to what shows up on the exchanges.  Community support/votes/begging to be listed is important, but I think the exchanges need to be in DIRECT CONTACT with the coin's developers before getting listed, for one to make sure they're even around anymore, and to make sure they're OK with it.

[BittBurger]

Its a tough call because it does reek of censorship.

But then again, moderators delete "spam" on here every day. I think an argument could be made that a lot of these coins made by amateurs, with zero value, qualify as spam.

Thoughts?

[El Dude]

I believe that we need to persuade people to kill Litecoin and PeerCoin first

lol kill litecoin not going to happen buddy , keep dreaming

[weedoge]

I guess we shouldn't bee too strict (free market, etc ...), but it would be nice to have some minimal requirements for common PoW coins:

1. Having the source code, ideally on a git repo.
2. Having some stable initial node (specified in the code), so no gimmicks with .conf files are necessary to start the coin.
3. Having key parameters (block reward, retarget, type of PoW algo, possibly size of premine.... ) specified in the announcment.

And ideally have at least some of the following;
* a pool
* windows wallet
* some service(s) - faucet, block explorer, shop, gaming site, whatever ...

For at least somewhat new/innovative coins (that brings at least one new algorithm somewhere inside) perhaps require only first point (having source).

This is good and what we need, not what OP suggested imo.

[Musent]

Agreed. Stop the bleeding.

[xwortel]

yes,please make something like this possible

[bitwho]

Ops should have  a back ground info , coin should have %51 -attack protections. no instamining.

[lasciv]

free market?

[Nullu]

I don't think it would be fair to impose this on altcoins. It's a free market, after all.

However, I wouldn't be against a new subforum being made for coins that cut it above the rest. Weekly votes could determine which coins make it in or out. So the main announcements subforum could be a sort of free for all, but only the best coins would make it into the new subforum.

[panonym]

Need alternative to 1st proof of work.
Mining only interest people with good hardware.

Want proof of burn or real innovation.

[callawey]

No one can put a requirement for altcoins but if the community does its job correct, eventualy shitcoins will stop. If you see any premine even like 0.01% dont mine it, if no one mines any of this releases than eventualy the shitcoin releasers will stop making them because they will know there is no point to do it.

For myself, i realy get tired of seing shitcoins everyday with premines, if the developers needs money, i am pretty sure that if (s)he does a good job he will receive a plenty good donations but saying "premined for development" is totaly scamm and just shit, they are here to become rich without doing any thing as releasing a coin is pretty easy which a few programing knowladge. If you release a coin, donations are the way to go, if you premine, i hope the community does its job and this shitcoins dies.

[aleix]

 

https://bitcointalk.org/index.php?topic=401943.msg4353573#msg4353573