▌ Sprout: A Community Driven Crypto-Currency - New Innovative Ideas ▌

[ahnonamis]

Will a seed node have a set amount? (Will a seed always have, for example, 100 closest people even if the closest person to you is 100 miles away?)

I'm just curious on how that portion of it will work, because if it's just anyone within a certain distance, I can see it going great for people who live near LA, Chicago, NY, Seattle, etc. but not so great for people who live in small towns.

[bman3]

Will a seed node have a set amount? (Will a seed always have, for example, 100 closest people even if the closest person to you is 100 miles away?)

I'm just curious on how that portion of it will work, because if it's just anyone within a certain distance, I can see it going great for people who live near LA, Chicago, NY, Seattle, etc. but not so great for people who live in small towns.

In terms of hashrate, a seed node will have a set limit to prevent 51% attacks. IF ever a seed node reaches 48% of network hash it will split to create a new one. The network will be built to handle this. In terms of bandwidth, it will also adjust. This will be done by a calculation between the ping and the saturation of the seed nodes. The network will never allow large groupings of bandwidth or hashrate, as it will monitor saturation levels of the seed nodes. Upon connecting, it will take this into consideration along with the ping. There will always be a fair distribution of bandwidth and hashrate, no matter where you live in the world.

[chrisnippz]

I am not a developer, but very savvy in the business and marketing end of things. I'd be happy to donate funds and time to getting this off the ground.

[bman3]

I am not a developer, but very savvy in the business and marketing end of things. I'd be happy to donate funds and time to getting this off the ground.

Thank you chrisnippz, that's great! Very kind of you to offer up your services, and I will notify you when we are at that stage in production. Currently, I am looking for programmers to get this off the ground. Hopefully some will come forward soon.

[theuns]

If you could ensure every wallet belongs to only one person by requiring something like a credit card verification or identity number during creation, could you then limit the amount of coin that any one wallet could mine(they may own more by buying or selling something for coin), thereby giving the whole community an equal chance?

Or you could give the coin away to everyone part of the community xxxcoin per wallet, and make it an requirement to keep your cpu/card available for mining a certain number of hours per month to stay part of the coin community? So the solving of the blocks are done not for reward, but as a responsibility/requirement to be part of the coin community. Once again you would need to make sure that only one wallet per person is possible, so that becomes the difficult problem if government is not involved.

Maybe a solution would be to require a fingerprint/voiceprint/retinascan per wallet? Software would then be required to tell fake fingerprints/voiceprints/scans from real ones???

Someone cleverer than me would have to do that bit...

[bman3]

If you could ensure every wallet belongs to only one person by requiring something like a credit card verification or identity number during creation, could you then limit the amount of coin that any one wallet could mine(they may own more by buying or selling something for coin), thereby giving the whole community an equal chance?

Or you could give the coin away to everyone part of the community xxxcoin per wallet, and make it an requirement to keep your cpu/card available for mining a certain number of hours per month to stay part of the coin community? So the solving of the blocks are done not for reward, but as a responsibility/requirement to be part of the coin community. Once again you would need to make sure that only one wallet per person is possible, so that becomes the difficult problem if government is not involved.

Maybe a solution would be to require a fingerprint/voiceprint/retinascan per wallet? Software would then be required to tell fake fingerprints/voiceprints/scans from real ones???

Someone cleverer than me would have to do that bit...

I understand your train of thought, but it really depends what we are going for. In my original plan, I did not formulate an idea of changing the structure of society as a whole. Limiting the amount of coins per wallet somewhat goes against the idea of capitalism, as it limits potential. However, the concept of this could be beneficial as well, as coins would be more evenly distributed amongst everyone on Earth. It's a real catch 22.

The only solution I can think of to this would be to put a high limit of lets say 30-50 million. No one should need more than this amount ever in life. Anything mined or earned after the 30-50 million limit would go straight into a charity or fundraiser.

Your idea of limiting wallet addresses based on a security feature such as fingerprints/voice/retina scan might be of an issue to the current block chain infrastructure. Also some businesses, stores, couples, charities or financial institutes might want joint accounts.

What are yours and everyone's thoughts on this?

[PinkPotatos]

i like the name

[bman3]

i like the name

Thanks

[theuns]

If you could ensure every wallet belongs to only one person by requiring something like a credit card verification or identity number during creation, could you then limit the amount of coin that any one wallet could mine(they may own more by buying or selling something for coin), thereby giving the whole community an equal chance?

Or you could give the coin away to everyone part of the community xxxcoin per wallet, and make it an requirement to keep your cpu/card available for mining a certain number of hours per month to stay part of the coin community? So the solving of the blocks are done not for reward, but as a responsibility/requirement to be part of the coin community. Once again you would need to make sure that only one wallet per person is possible, so that becomes the difficult problem if government is not involved.

Maybe a solution would be to require a fingerprint/voiceprint/retinascan per wallet? Software would then be required to tell fake fingerprints/voiceprints/scans from real ones???

Someone cleverer than me would have to do that bit...

I understand your train of thought, but it really depends what we are going for. In my original plan, I did not formulate an idea of changing the structure of society as a whole. Limiting the amount of coins per wallet somewhat goes against the idea of capitalism, as it limits potential. However, the concept of this could be beneficial as well, as coins would be more evenly distributed amongst everyone on Earth. It's a real catch 22.

The only solution I can think of to this would be to put a high limit of lets say 30-50 million. No one should need more than this amount ever in life. Anything mined or earned after the 30-50 million limit would go straight into a charity or fundraiser.

Your idea of limiting wallet addresses based on a security feature such as fingerprints/voice/retina scan might be of an issue to the current block chain infrastructure. Also some businesses, stores, couples, charities or financial institutes might want joint accounts.

What are yours and everyone's thoughts on this?

Hi, bman3
Idea 1 was to limit the mining to a pre-determined amount, not the wallet.

for Idea 2, only individuals receive the initial coin (free, without mining, but with a responsibility to mine/verify the blocks else your account is frozen). Companies may register and trade all they want but do not get free coin. So you may set up any number of companies with their own wallets (anonymous if that is the preference) but these companies do not get free coin.
Expanding on the second idea, maybe give all users (excepting companies)  a monthly stipend (such as is planned by Sweden I think in euros), sort of a living wage. This will create some inflation but the inflation is the same for everyone in the scheme.

[Akronn]

Hey guys, Just wondering if there is any new information regarding the development of this new type of crypto. Really interesting concept.