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Author Topic: A small suggestion for alt-currencies.  (Read 1289 times)
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January 19, 2012, 02:40:54 AM
 #1

Hi,

It's nice that you guys make new alt-coin forks, however there are a few problems with this.

You basically slap a few new functions in there, either change OR not the algorithm, make a new icon and call it ???coin.
Just because Satoshi crated the bitcoin protocol, and laid out some rules does not mean you have to abide by them when creating an alt-currency.

Imagine, that instead of one hash < target to solve a block, you need two or more, I am not suggesting anything, the point here is to think OUTSIDE of the box. Try to innovate, not copy/paste. If you need, change the very foundation of the fork, so it is completely different than how Bitcoin works.

That is all I wanted to say.

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January 19, 2012, 02:41:54 AM
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This.

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January 19, 2012, 03:06:44 AM
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I get that you aren't really making that specific recommendation. It's pretty bad though, large miners have such an advantage that only pool mining will make sense and then only the largest pool will continue after that.

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January 19, 2012, 04:43:41 AM
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I'd like to see a coin with alternating blocks CPU/GPU.

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January 19, 2012, 08:09:02 AM
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That would be interesting. People would specialize in one or the other. The power usage at their house would shoot sky high and then drop to near zero. Then sky high, then down again. Forever.

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January 20, 2012, 04:24:50 AM
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@OP, do you have any suggestions that would actually help the crpytocurrency? it seems like your suggestion of forcing them to find two hashes would just halve the difficulty.

I'd like to see a coin with alternating blocks CPU/GPU.

why?

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January 20, 2012, 05:24:05 AM
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Why you ask?

My idea is that the coin is protected from the likes of Luke jr. using a large pool to 51% it.
If every other block is scrypt he cant take all the blocks by MM ing with bitcoin, thereby adding cost to any attack.

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January 20, 2012, 06:43:00 AM
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@OP, do you have any suggestions that would actually help the crpytocurrency? it seems like your suggestion of forcing them to find two hashes would just halve the difficulty.

I'd like to see a coin with alternating blocks CPU/GPU.

why?
If you read the bit after that, you would find out it was merely an example. An example of thinking OUTSIDE of the box. People are too limited by what is already out there, re-using the same code, with minor changes. Namecoin while still just bitcoin, thought a bit outside of the box, and made something useful, why do you think it has worth?

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January 20, 2012, 02:48:04 PM
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Why you ask?

My idea is that the coin is protected from the likes of Luke jr. using a large pool to 51% it.
If every other block is scrypt he cant take all the blocks by MM ing with bitcoin, thereby adding cost to any attack.

Well what's to say that Luke jr doesn't control a botnet as well as a pool?

Why not make each block have a scrypt portion and a SHA portion so that the CPU and the GPU must be used on the same machine?

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January 29, 2012, 07:44:44 AM
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Do you want folding money(https://en.wikipedia.org/wiki/Folding@home), seticoin(https://en.wikipedia.org/wiki/SETI@home) or some other type of science coin? Would it inflate?

Would it monetize these(https://en.wikipedia.org/wiki/List_of_distributed_computing_projects)?

I am with ya all the way that hashing is a wast of electricity!
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