[ANN] ₩orldo -The World Currency. Botnet proof. CPU only. (Alpha)

[travel-trousers]

How will ₩orldo know how much potential I have? Is it going to detect my hardware and just give me a score or do you have to run a benchmark to prove what you can do?

At the moment the idea is to run 100% on a real world benchmark for quite a while to see how fast your computer is... its something we're still talking about...

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[chuck_0]

When can we expect a release ? One week ? One month ? This summer ?

[travel-trousers]

When can we expect a release ? One week ? One month ? This summer ?

That's hard to answer... certainly we can release without everything outlined in the OP and add stuff as we go but the main bot net code will need a lot of testing before release since you don't want to get into a place where genuine clients are denied coins for various reasons...

Sadly we're not inundated with people offering to code... hopefully this will change once we're able to offer bounties more substantial than (now) worthless altcoins.

[magpr]

I'm signed up! Excellent idea! Ask for developers team: what do you think, how many time will need ₩orldo to raise up in top 10 crypto-currencies?

[travel-trousers]

I'm signed up! Excellent idea! Ask for developers team: what do you think, how many time will need ₩orldo to raise up in top 10 crypto-currencies?

That's the spirit ! :p

Who knows? I think for a crypto to succeed even more than Bitcoin it needs people to use it, so a high priority will be to get people to install the client and let them see the value of their coins slowly going up (in real money), that will hopefully encourage them to spread the word...

Hopefully we'll be the coin that everyone on this board farms in conjunction with the more popular scrypt coins since their CPU's are idle....

[chuck_0]

When can we expect a release ? One week ? One month ? This summer ?

That's hard to answer... certainly we can release without everything outlined in the OP and add stuff as we go but the main bot net code will need a lot of testing before release since you don't want to get into a place where genuine clients are denied coins for various reasons...

Sadly we're not inundated with people offering to code... hopefully this will change once we're able to offer bounties more substantial than (now) worthless altcoins.

Well you are the project manager. A project without a calendar isn't too serious. I know it's hard to plan like this but I think it is crucial to keep the interest of people here and also to give credibility to your project. I would post a calendar of planned events and modifiy it according to what happens along the way. And put some buffers. Let's say you think you need a 3 weeks beta, make it 4 and publish it....
My two worldo.

[magpr]

I'm signed up! Excellent idea! Ask for developers team: what do you think, how many time will need ₩orldo to raise up in top 10 crypto-currencies?

That's the spirit ! :p

Who knows? I think for a crypto to succeed even more than Bitcoin it needs people to use it, so a high priority will be to get people to install the client and let them see the value of their coins slowly going up (in real money), that will hopefully encourage them to spread the word...

Hopefully we'll be the coin that everyone on this board farms in conjunction with the more popular scrypt coins since their CPU's are idle....

Now many people need a easy CPU-minig crypto-currency. Not many people have free money to buy GPU-farm... If your developers team will do everything well - it will be great success for us all!!!

[djsteveoh]

Can you explain a little more on the mobile idea? Payment only or also mine with it? Love the idea and signed up on website!

[alc]

Looking not too far into the future, I'd expect to see most laptops/desktops ship with "smallish but sufficient" SSDs, as increasingly content sits in the cloud and is consumed on-demand. In this scenario what does Worldo do about the performance test? I appreciate that SSDs are not going to challenge HDDs on price per GB for the foreseeable future, but OS sizes are not increasing inverse to the reduction in cost per GB.

What you're looking for is hardware that proves the miner is a human intending to mine; a "human proof of work", if you like. "Something that has the performance of a flash drive relative to a spinning drive" is a poor indicator of this, and will become worse over time. Botnets aside, virtual instances have access to large amounts of RAM relatively cheaply, enough that 8GB is probably not a big deal. I suspect that cloud mining and dumping to fiat for immediate, if cynical, ROI have a bigger effect on CPU coin prices than botnets do. I might be wrong.

If you want to keep the "USB as proof of human" concept then, as a thought experiment, you could mandate a dongle which all miners require in order to function. This would be cheap to make (a few dollars in hardware costs, something that won't threaten early-term mining ROI as ASICs do) and do something that botnets or cloud compute services can't competitively do. Ideally, the dongle would be easily available from a broad plurality of manufacturing sources. I believe this line of thinking is what lead you to arrive at the "8GB flash" idea. I have no better solution, but I suspect yours won't work.

[travel-trousers]

Can you explain a little more on the mobile idea? Payment only or also mine with it? Love the idea and signed up on website!

Mining too... why not? Phones are getting quicker and quicker.... you'd probably only want to do it when it's plugged in though.... :p

They key to widespread adoption is for everyone to be able to use it, and people in the developing world love "free" money :p

[travel-trousers]

Looking not too far into the future, I'd expect to see most laptops/desktops ship with "smallish but sufficient" SSDs, as increasingly content sits in the cloud and is consumed on-demand. In this scenario what does Worldo do about the performance test? I appreciate that SSDs are not going to challenge HDDs on price per GB for the foreseeable future, but OS sizes are not increasing inverse to the reduction in cost per GB.

You're right, but I believe the botnet problem is from 10+ year old hardware running on XP or worse... if these people do upgrade to a SSD laptop then hopefully the OS is more secure...

That's a problem to be addressed *if* the currency takes off in a big way... but if you have a million+ users and mandate the use of a $1 dongle to use the system that wouldn't be too bad... you have to attain a level of adoption that the botnets would actually care.... when we get there we've won.

[travel-trousers]

I suspect that cloud mining and dumping to fiat for immediate, if cynical, ROI have a bigger effect on CPU coin prices than botnets do. I might be wrong.

They still have to pay for Cloud mining...

You will *NEVER* stop a determined thief, you can only slow them down. That's what we're aiming for...

[xwortel]

We welcome all constructive feedback and are aiming for a Beta release in about 5 weeks.

Instead of pre mining, wouldn't it be an idea if you make it (the first!!) possible where every wallet will contribute automatically a certain amount to a Foundation wallet (e.g. by 0.1% a year, but rate to be determined)? That way, you will have a stable wallet income for now and in the future... also this will give people more secure feel since devs are not possible to "walk away" with the valued coins (like what happened to USDE).

Maybe even let people decide how the foundation coins will be spend?

Anyway, I really like this coin, I hope everything will be fair..

[miramare]

I support the devs keep waiting for release. I expect this will come out with some core techniques.

[alc]

when we get there we've won.

On the contrary, to the extent that you're there you get hammered by the botnets. This isn't something you can easily fix when you're at that later stage; hard forks are problematic and threaten trust.

You will *NEVER* stop a determined thief, you can only slow them down. That's what we're aiming for...

If the proof of work is violable then it will be exploited to the degree that it is possible and profitable to do so. You'll need a better indicator of human status than 8GB of flash to preclude this kind of activity. If all this seems horribly critical, I apologise. I'd like it if you could convince me otherwise.

[travel-trousers]

You'll need a better indicator of human status than 8GB of flash to preclude this kind of activity. If all this seems horribly critical, I apologise. I'd like it if you could convince me otherwise.

Well, this is the real issue isn't it? How do you tell if a computer is a zombie or not? The botnet controller has the source code....
Capchas? They can be rerouted and are annoying.

8Gb of flash is 1. Cheap 2. Available everywhere 3. A start...
It can be 16, 32 or 64 Gb of flash....

I think you overestimate the power of the botnets or their interest in mining coins... the main issue is click fraud... that's their real money earner, nearly 2 million zeroaccess zombie machines will only earn $2k of bitcoins a day, so $700k a year.... click fraud is tens of millions of dollars a year
http://www.symantec.com/connect/blogs/grappling-zeroaccess-botnet

Now obviously it's an issue and something you want to avoid but if a simple $10 device means the botnet controller has to do more work, he won't bother...

It's not horribly critical... but I would love to hear solutions to problems that might arise in 10+ years time... there's got to be a better way that ASIC farms and 4 pools with 80% of the hashing power....

*btw the computer used in symantecs test case is :
Test computer specifications:
Model: Dell OptiPlex GX620 Pentium D 945 3.4GHz 2GB (Max TDP 95W) which I believe would be a pretty powerful machine for most botnet nodes, a lot are probably ancient. I would be surprised if zeroaccess was even making 1/4 of the amount symantec say is possible from mining*

[travel-trousers]

Instead of pre mining, wouldn't it be an idea if you make it (the first!!) possible where every wallet will contribute automatically a certain amount to a Foundation wallet (e.g. by 0.1% a year, but rate to be determined)? That way, you will have a stable wallet income for now and in the future... also this will give people more secure feel since devs are not possible to "walk away" with the valued coins (like what happened to USDE).

That will be in place.... The premine is good because it makes people invested at the start, but there has to be a level of trust in the devs. It also gives the coin an immediate value so people can start giving it to friends and promoting it from day one. The premine is bad because its very easy to rip everyone off...

We'll shortly be 'publishing' the email list with obfuscated email and IPs, ie te*****fg@gmail.com 176.45.245.*** so people can see that the list is growing gradually and hopefully believe us when we say that X people should share 0.4% of the shares, we're already sharing the google analytic pdfs, if you would like to be put on the mailing list (from google) let me know.....(I'll put that in the OP....)

All the premine accounts will be transparent and accounted for.

Anyway, I really like this coin, I hope everything will be fair..

Thanks, the idea is to get everyone using it, ripping off the early users is just retarded :p

[Little_boo]

At what stage is the project? How much money you need to start the project?

[princecash]

Another great coin is born, i need some, tell me how to get it

[NXM]

Botnet proof? woo......