How can I create an altcoin that can't be mined, only get them by me giving

[MrThePlague]

Curious if it's simple enough to create an altcoin, but I own all of the coins, with certain people's wallets only receiving them if I give them out? The reasoning was for an idea I had with a group of 15 or so friends. Gaming competitions that prize out this coin, which can be redeemed back to me for certain prizes?

Would this be easy enough to achieve? Would it be secure enough to where someone can't just edit a text file and give themselves unlimited coins.


Thanks in advance!

[Tenemo]

I back up the question, that's an interesting one. Such coin would open up many possibilities, I've always wanted to a be central bank too. Maybe you could try creating an altcoin with low number of coins, like 10,000 and mine them all in a single block, 100% premine. However, possible transactions will require to be validated somehow (by mining more blocks).

[greenclover]

This is sooooooooooooo easy, just create a 100% premined coin, and you have all the coins, you can give to whoever the coins and distribute them any way you want. Trivial to do.

[MrThePlague]

Good call!

Anyone have an idea where I can find a tutorial to accomplish this? Being a super noob in this area... Or any idea what a fair cost would be to set this up?

[st4nl3y]

Good call!

Anyone have an idea where I can find a tutorial to accomplish this? Being a super noob in this area... Or any idea what a fair cost would be to set this up?

http://coingen.bluematt.me/

you can choose how many pre-mine

[elbandi]

Use this:

Code:

int64 static GetBlockValue(int nHeight, int64 nFees)
{
    int64 nSubsidy = 0 * COIN;

    if (nHeight == 0)
        return 50 * COIN; // genesisblock coins
    if (nHeight == 1)
        nSubsidy = 100000 * COIN;

    return nSubsidy + nFees;
}

Mine the first block, and voala, you have 100000 coins. other blocks has 0 reward.

[ThePeePs]

I would also say, set a fixed diff, (if that can be done) do so that this way the blocks keep moving for tx's

[defaced]

put all the coins on the first block.

[MrThePlague]

Use this:

Code:

int64 static GetBlockValue(int nHeight, int64 nFees)
{
    int64 nSubsidy = 0 * COIN;

    if (nHeight == 0)
        return 50 * COIN; // genesisblock coins
    if (nHeight == 1)
        nSubsidy = 100000 * COIN;

    return nSubsidy + nFees;
}

Mine the first block, and voala, you have 100000 coins. other blocks has 0 reward.

How about the custom wallet (for that coin) creation? As well as naming it? That's pretty much all I'd like. Say a million (or over) coins, a wallet I can distribute, a personalized name and even icon. No mining information needed, just a wallet distribution with my 'host wallet' having all the coins. Obviously I'm beyond noob at this...

[serje]

And who will mine it?
Since no one will get the coins by mining I doubt someone will mine it!

[CoinHoarder]

With no block reward there is no incentive to protect the network. Don't be surprised if someone jumps on your chain to troll you and steal your premine.

(cue BitcoinExpress post in 4... 3.. 2... 1...) (I say that lovingly BCX, I find your banter amusing myself)  

And who will mine it?
Since no one will get the coins by mining I doubt someone will mine it!

Great minds think alike?

[MrThePlague]

And who will mine it?
Since no one will get the coins by mining I doubt someone will mine it!

Well I guess as others have mentioned, I could mine the first (and only) block for the entire lot of coins. However I dont even know where to begin acquiring a custom wallet (for myself and to distribute), name, and potential logo.

[MrThePlague]

With no block reward there is no incentive to protect the network. Don't be surprised if someone jumps on your chain to troll you and steal your premine.

(cue BitcoinExpress post in 4... 3.. 2... 1...) (I say that lovingly BCX, I find your banter amusing myself)  

And who will mine it?
Since no one will get the coins by mining I doubt someone will mine it!

Great minds think alike?

Not sure how big a difference it makes, but none of the 10 - 15 people (at max) using the wallet / system, have any knowledge on mining or crypto currency in general, hence, i am confident no one of this private crowd can do much with it. Plus, since it would be a small private group, and myself only giving out the coins, i would know if someone obviously acquired an amount I didn't personally give out. Though I would like members of the group to be able to trade with each other, Im confident no one can do any serious damage within the group

[CoinHoarder]

Good point, I didn't think about that. I guess if you don't publicly release the coin it isn't likely that you would be attacked. I don't think it's likely anyways because it sounds like your coin is just for fun, but predicting what people may or may not do is futile. 

Have fun!

[MrThePlague]

Have fun!

Thanks buddy! 

[pineapples]

someone on forum makes coins too.


https://bitcointalk.org/index.php?topic=208578.0

[NorrisK]

Just setup one raspberry pi to keep the transfers going?

[cosmofly]

Good call!

Anyone have an idea where I can find a tutorial to accomplish this? Being a super noob in this area... Or any idea what a fair cost would be to set this up?

http://coingen.bluematt.me/

you can choose how many pre-mine

which fields allow you to choose how many premine ? i posted before i want ot make a coin for my club and want to 100% premine but no one answered me. plz help

[davidpbrown]

Perhaps looks at what Bitcoin2.0 protocols are looking to offer.. MasterCoin; CounteryParty; NXT; BitShares all potentially might shortly offer easy options to issue your own coins.

[softron]

I can clone that for you, pm me pls.