[ANN] RealCoin - Targeted to the IM world!

[TheGlobber]

So you are actually saying that you dont trust one of the best developers of this community.

When i see an application that i can use and comes from a reliable source i focus on actually putting it to work and using it not spent time playing with the code.

There is no place/time for games when it comes to business. You want something that works and gets the job done. And btw dont you use anything that doenst give you the source?

I do understand that when something is available and open source (like bitcoin) its hard to accept something that is not open source but its just a simple temporary measure. Thats all.

How r u going to protect ur *coin against attacks of guys like Luke Jr.? Read https://bitcointalk.org/index.php?topic=56675.0 to know what could happen.

You can only mine using the official client on your CPU. The exact mechanism how this is done is kept secret for the time being and is pretty difficult to reverse engineer. This is only a temporary measure while the network is still small.

Wait a minute. The expectation is that we will all run this code on our computers, without knowledge of exactly what's going on under the hood, and without the ability to look at the source?

No offense, but, after having gotten used to the transparency bitcoin offers... screw that.

[TheGlobber]

I respect your opinion as i have read many threads of yours but this doesnt mean that you are right.

The thing i dont understand is this: If you dont like something you just walk away. Why do you have to fight like there is no tomorrow. You believe that Bitcoin is a winner and no other coin has a meaning. Then focus all your good energy to support it rather than posting "PURE FAIL".

Unfortunately its not a PURE FAIL since it hasnt even started. I would suggest trying it first and keeping an eye on it on your spare time just to see if it actually has something new to bring to the cryptocurrency scene or not.

I am done arguing for today and will not argue any other day. 

PURE FAIL.

Your whole "concept" is simple for user.

So make a custom bitcoin client which is simple for user and has a built in exchange.  Done.

Your vague and nonsensical reasons about why you need a new coin to make it user friendly shows you either have no clue or you simply are looking to get rich quick.  There is no logical scenario where trying to bootstrap an entire economy (3rd party services, merchants, etc) makes sense.

The only reason for a ground up approach is if you were making CORE CHANGES which are incompatible with Bitcoin and you aren't.

Two years from now PureCoin is in the long list of tried and failed alt-coins.

[the joint]

Does it have major differences to Bitcoin atm except the mining algo? No.

Ok, so nothing big yet.

Will it have in the future? Yes.

What and why?  Be specific.

Why not implement them now instead of at a later stage? You have to start from somewhere familiar and there are also numerous applications, clients, functions and addons that have popped up lately (for example Electrum) that its really hard to select one and go with it. Also time plays an important role in this. To fully develop a working client like i and others would like it to be, might even take a year or more.

So, more or less what Bitcoin developers have been doing all along.

Why dont you just use Bitcoin or build on top of it? I do like Bitcoin a lot but i dont see it fulfill some very important needs. Right now i can only use it to speculate and you can see that it is a speculative tool on your own. No need for me to tell you that.

You can also use Bitcoin to buy things.  You can neither speculate upon nor buy RealCoin yet.  Won't there be only speculation when the RealCoin exchange opens and there is no economy supporting it?

Lets all think of PayPal. Why is PP accepted everywhere? Because it is user-friendly and simple to use both from the merchant's side and the consumer's.

Ok, and Bitcoin is specifically designed to address this issue.  The point is that it's still growing and becomes more user friendly as more people accept it.  RealCoin faces the exact same hurdle.  You're talking about a more user friendly client, not a more user friendly currency.

Now Bitcoin could become a decentralized PP in terms of having all the advantages (or most of them) of PP but also being decentralized which is great.

Right.  And as everything you have mentioned is completely vague and/or opaque, we don't know RealCoin is decentralized.

Now ask yourself.

Has it become something like this or at least get close to it? No.

Bitcoin already DOES have the advantages.  It takes time to develop the economy.

Will it become? I dont know.

Already is.

Who decides what it will become? The core team who is developing it. Dont tell me that you actually have a say in what the client is or is not.

You better believe the Bitcoin core developers keep the client's users in mind.  Isn't it smarter to consider what people want if you want them to use your client?  Feedback is wonderful.

Is it user-friendly? Hmmm. Somewhere in the middle between Yes and No.

Could it be more user-friendly? Sure.

I agree on both accounts.

Would a regular average user benefit from a very simple tool that works like PP but is also under his own control? Definitely.

Like Bitcoin?

Would a merchant or a consumer or a business owner benefit? Of course.

Like by using Bitcoin?

Why doesnt Bitcoin fulfill this need? Probably because it might do it in the future but right not is focusing on other stuff.

Focusing on other stuff like...development?  Ever heard of Bit-Pay?  Regardless, you're still talking about an economy, not a currency.  Currencies do not act and are not focusing on other stuff.  You have no say in the creation of the economy except an exchange should you choose to make one.

Are there numerous functions on top of Bitcoin that make it better than just the client itself? Yes. Numerous.

Like?

Why are they not implemented into the client (apart from the technical side)? Maybe different goals.

Are you talking about the currency or the client?  Are you talking about changing the currency itself midway through?  Is there something that a magical client can do to enhance your currency that cannot also be implemented into the Bitcoin client?

Does Bitcoin has a Paper where the next steps that will be taken are clearly outlined? I am not aware of one.

That's because its a free market.  You really want to tell people how to specifically develop an economy in a free market?

There are numerous other questions.

Oh yes, I have some as well...

The important thing is that the more alt coins fail the more stronger Bitcoin gets. So whenever someone like me or someone else posts an announcement on a new coin dont go crazy.

So, wouldn't the failure of RealCoin aid Bitcoin?  Why are you making this again?  I thought you said RealCoin isn't meant to compete against Bitcoin?

Lastly as i said in the beginning of this thread, why not be friends? Maybe in the future there is a function, utility, service developed in the RLC network that is good for BTC use and is adopted.

Friends maybe, business partners no.  And, as you stated above, maybe terminating the network would make Bitcoin stronger (according to the reasoning you provided).

Also as you might have understood although the client might be really close to the BTC client, the economics behind RLC are different and there are some new ideas implemented. So look at this project as a way to research the side of economics rather than the pure source code and i am pretty sure that there will be important things that will come out of this.

What economics?  What economy?  What new ideas implemented where?

"...a way to research the side of economics rather than the pure source code..."  -- No.  Source code first or I have no interest in using ever.  

Closing, i would like to say for once more that a DIFFERENT target/goal/aspiration/etc makes a DIFFERENT coin since the approach as well as the execution will be different.

What different target/goal/aspiration?  Difference is not a good enough reason to have a new currency.  We must have a very good to believe the currency itself (and not the approach and execution) will be significantly better.  If not, it's much more worth your while to take your ingenious approach and execution and apply it to Bitcoin.

[MyZhre]

Looks like yet another scam coin to me.

[westkybitcoins]

I'm not sure if people have realized this yet, but RealCoin is attempting to offer an idea so simple, so basic, and yet so NEEDED that can't be found anywhere in Bitcoin:

A client/miner rolled into one.

Now, assuming LTC already acts as a counterpart to Bitcoin (I'm not sure to what extent this is true, I've never dabbled in LTC) then Real Coin really doesn't serve much of a purpose in my opinion.

Why don't you get in touch with Gavin to implement an automatic miner in the Bitcoin client?

IIRC, Bitcoin had CPU mining integrated into the client up to version 0.3.0.

But really, past a certain point, it's not necessary, because the average Joe can't really earn anything that way anyhow.

Think about it. The intent (in part, according to the creator) of RealCoin seems to be to allow just anyone to hit a button on their computer, generate stuff, and trade it in for cash at a profit. Without effort. Forever.

How realistic is that? When the early adopters first generated bitcoins, sure, they cranked out a bunch, but they had to wait YEARS before they even knew the system was going to succeed, never mind actually profit. I'm certain many of them didn't make it... they gave up or cashed out too early. And at this point, even if bitcoin mining was CPU-based, there is (and would be) so much hashing power dedicated to it, the idea of the average person making any significant amount of bitcoin in exchange for the time and electricity devoted to it is a joke.

RealCoin doesn't seem to have a way around that. Even if it's initially successful, and 100 people join in and start mining, and actually make a few bucks a week mining, after two weeks the difficulty will adjust so high due to everyone wanting to do it that profits crash. So you get two weeks of the average Joe getting coins then... everyone gets a pitiful fraction, but the early adopters still hold the king's ransom.

Mining only generates the coins, and serves to distribute the initial batch. It can never be a long-term plan for adequate distribution on it's own.

There won't ever be a system where we all produce profit at the push of button, immediately and forever. It's just not possible. (I'd love to be proven wrong, but I won't hold my breath.)

[westkybitcoins]

I have no serious beef with closed-source software in general. If you want to keep RealCoin closed-source, I'm not going to scream and holler until you change it. More power to you.

But I personally prefer open-source, and the more I learn the more I prefer it. Of course I use closed-source code, but I've noticed my drifting toward more and more open-source material years ago. It's transparent. It's usually free. It allows greater innovation and error-checking. And while I don't usually play with the code, I can if I want. That all just seems to fit the spirit of the developing information age more closely. Centralization vs. decentralization. Control to others vs. trust in an "authority."

And with Bitcoin, I have an open-source alternative to RealCoin... so until something seriously superior about it materializes, I have no reason to even try it. It would be against my preferences. Kind of like asking someone who prefers a kosher diet to try this new bacon diet. Nah, I'll pass.

Again though, good luck. I'm still interested in seeing how this all pans out; I'll probably check it out in-depth after the switch to open-source occurs.

So you are actually saying that you dont trust one of the best developers of this community.

When i see an application that i can use and comes from a reliable source i focus on actually putting it to work and using it not spent time playing with the code.

There is no place/time for games when it comes to business. You want something that works and gets the job done. And btw dont you use anything that doenst give you the source?

I do understand that when something is available and open source (like bitcoin) its hard to accept something that is not open source but its just a simple temporary measure. Thats all.

How r u going to protect ur *coin against attacks of guys like Luke Jr.? Read https://bitcointalk.org/index.php?topic=56675.0 to know what could happen.

You can only mine using the official client on your CPU. The exact mechanism how this is done is kept secret for the time being and is pretty difficult to reverse engineer. This is only a temporary measure while the network is still small.

Wait a minute. The expectation is that we will all run this code on our computers, without knowledge of exactly what's going on under the hood, and without the ability to look at the source?

No offense, but, after having gotten used to the transparency bitcoin offers... screw that.

[Syke]

Where did you get the idea that me or anyone else will run with the money?

Ever hear of mybitcoin.com? How about bitcoin7.com? Need I go on?

Just to add some info to this, neither I or any other investor of RealCoin will touch the backend of the exchange.

Cross your heart and hope to die? I guess I fully trust you now. How do I send you my money?

[drakahn]

unless that 10000 is going to be used for marketing i don't think this coins going to take off

[RaggedMonk]

Your vague and nonsensical reasons about why you need a new coin to make it user friendly shows you either have no clue or you simply are looking to get rich quick.  

To defend TheGoober for a moment, I am almost certain that he has no clue. 

BTW, quoted text goes above your comment ^ like this.

A decentralized alt currency that is closed source is not really decentralized.

[RaggedMonk]

Unfortunately its not a PURE FAIL since it hasnt even started.

You just announced it and everyone is already mocking you.  You can't even make us think it will be good with your sales pitch for it, not to mention the countless real-world problems you will push up against when you launch.

I would call that PURE FAIL. 

Find another project, this one isn't going to work.

[markm]

You seem to be shooting yourself in the foot by basing your claims of feature set of this new coin on features that, if you do in fact have the prowess to create them, would equally well be features if you did them using Bitcoin instead of some new coin.

You also are not really going full out on the one "feature" that does pretty much require a new coin: the ability to fully back every coin without your "reserves" being bled dry by "miners" creating coins and "dumping" them without any intention of "backing" them.

The folk who have been after me to make currency software for them to try their "backing" concept with at least do plan to go full-on with their concept: every coin will be issued in the genesis block, to them, at the outset. Thus no coins will be out in the wild for them to worry about "backing" unless/until they actually part with a coin, whereupon what they accepted in return for parting with it will be in their "reserves" for backing their currency with.

If your plan is to make cryptocurrency more accessible to grandma, soccer moms and the computer-illiterate, please apply those ideas directly to bitcoin. If you do a decent job of it, all the other alt-coins, of which we have plenty already thanks and more than you know of, can also adopt those same concepts thus each provide this very ease of use you claim to be hoping to bring about.

-MarkM-

[Come-from-Beyond]

@TheGlobber

Make the client open-sourced and lower qty of premined coins to something like 10.000 (8m is too much). Without this u r launching just SolidCoin 3. U could get support of pure traders who don't read this forum but u won't get support of most part of our community.

[TheGlobber]

Thanks to all for your valuable input.

A more appropriate time to discuss the different aspects of it and try out the client would be at the launch.

Till then, i wish all of you the best.

[steelhouse]

unless that 10000 is going to be used for marketing i don't think this coins going to take off

That is a good idea, pay someone some coin for every forum post or youtube video and you will be the most popular coin.

[RaggedMonk]

Shit's about to get REAL

[jwzguy]

Thanks to all for your valuable input.

A more appropriate time to discuss the different aspects of it and try out the client would be at the launch.

Till then, i wish all of you the best.

Too late, you already torpedoed this project before the launch. Educate yourself a little better next time...or don't. You don't seem to be cut out for this world.

[TheGlobber]

There are more experienced people than me in this project.

People fail to understand that i am just the messenger. It doesnt matter if i am cut out or not for this world (and tbh there are things i dont fully understand about the mechanics) but there are others way more experienced than me.

This is a project with a team of people that have invested a certain amount of $ and will continue to invest. Changes in RLC in the long term CAN benefit BTC. All these projects are just experiments in the grand scheme of things.

To sum up, my job is to come here to announce the launch.

I will continue posting updates as we go.

Closing, i would like to say that a potentially lucrative deal will be introduced for miners that might involve BTC as part of the reward. There will be an announcement of this deal before the launch of the coin.

Stay tuned!

Thanks to all for your valuable input.

A more appropriate time to discuss the different aspects of it and try out the client would be at the launch.

Till then, i wish all of you the best.

Too late, you already torpedoed this project before the launch. Educate yourself a little better next time...or don't. You don't seem to be cut out for this world.

[eleuthria]

Your reply to my question answers everything.  This is another get rich quick scam with no real purpose.

Your entire argument is you want to make things easier.  There is NOTHING stopping you from adding that functionality onto Bitcoin.  Your entire fork is basically aimed about putting a pretty interface on top of bitcoind, something you can do with or without the blessing of the main bitcoin developers.

If you made a truly functional interface that was an improvement in every way, I can guarantee it would end up being in the master fork very quickly.  If you couldn't, nothing is stopping you from making a frontend to bitcoind and releasing it separately.


Quit wasting development time on competing with bitcoin when you're doing nothing but putting a new wrapper on the same old product.  Help the project, make it grow, and you'll profit on the growth of the bitcoin economy.


If you want to release more scamcoins, at the very least be honest about it like LiquidCoin.  Don't pretend you have a grand scheme and something unique when you're just duplicating bitcoin and making aesthetic changes.

[TheGlobber]

Im not here to argue or fight.

Im here to announce a launch.

Please respect that at least. I answered everyone's questions (at least to the point that i could) and will just update as we get closer to the launch as well as after the launch.

Then its just a matter of time to see if RLC really provides (or will soon provide) something different than Bitcoin.

Once more, RLC is not competing against BTC. They can co-exist in the same environment.

After all, its not like you have to choose one of them. You can use none, one of them, both of them or literally every different coin that exists at this point. Why does it have to be so hard?

Your reply to my question answers everything.  This is another get rich quick scam with no real purpose.

Your entire argument is you want to make things easier.  There is NOTHING stopping you from adding that functionality onto Bitcoin.  Your entire fork is basically aimed about putting a pretty interface on top of bitcoind, something you can do with or without the blessing of the main bitcoin developers.

If you made a truly functional interface that was an improvement in every way, I can guarantee it would end up being in the master fork very quickly.  If you couldn't, nothing is stopping you from making a frontend to bitcoind and releasing it separately.


Quit wasting development time on competing with bitcoin when you're doing nothing but putting a new wrapper on the same old product.  Help the project, make it grow, and you'll profit on the growth of the bitcoin economy.


If you want to release more scamcoins, at the very least be honest about it like LiquidCoin.  Don't pretend you have a grand scheme and something unique when you're just duplicating bitcoin and making aesthetic changes.

[eleuthria]

Once more, RLC is not competing against BTC. They can co-exist in the same environment.

No, it is competing.  If you think otherwise you're even dumber than the premise of your altcoin.  If you seriously think trying to convince businesses into accepting your rebranded bitcoins doesn't hurt Bitcoin you must have taken some blows to the head as a child.

You're here to try to scam a bunch of money.  Plain and simple.  If you truly believed your claims, you wouldn't have needed such a large premine.