Self issued credit.. how to create my own coin?

[sublime5447]

I want to make a Sublime coin. I want to issue my own coins that will be redeemable for items in my ebay store or for online purchases. I want to denominate them in a socially objective standard like the rogers commodity basket index or Joules of work and use the ripple network to manage transactions with it.

Is there a simple way for me and friends to mint our own coins?   

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[Peter R]

I want to make a Sublime coin. I want to issue my own coins that will be redeemable for items in my ebay store or for online purchases. I want to denominate them in a socially objective standard like the rogers commodity basket index or Joules of work and use the ripple network to manage transactions with it.

Is there a simple way for me and friends to mint our own coins?  

Yes.  You can use the Open-Assets protocol (colored coins) to create and track your own digital tokens.  

I believe the only working implementation is the Coinprism wallet: https://www.coinprism.com ; however, the protocol is open-source so it should be possible for your website to recognize when it receives your colored coins so that they can be redeemed accordingly.  

I'm not sure how you'll be able to peg them to a commodity basket unless you are willing to enforce the peg yourself, however.  You'll find more discussion regarding colored coins and the Coinprism wallet here: https://bitcointalk.org/index.php?topic=608067.0 . 

[sublime5447]

Cool I will check it out and Yes I am going to honer the coins at a set rate.

[sublime5447]

That looks like it allows me to color code bitcoins. I want to create my own "bitcoins".   

[juju]

Read ShakezulasCoin Creation Guide: https://bitcointalk.org/index.php?topic=217636.0

Here are some basic instructions to get you on you way:

Get Source and Rename coin prefix
sudo mkdir sublimecoin
cd sublimecoin
sudo git clone https://github.com/barcoin/barcoin.git
sudo find ~/sublimecoin -type f -exec sed -i 's/bar/sublime/g' {} \;

Generate Timestamp
date +%s
Paste timestamp and news string into source around line ~2090 main.cpp

sudo make -f makefile.unix
generate Merkle Hash for given timestamp
Look at the debug log and copy the Markle hash under the 000000
Located in: (~./sublimecoin/)
Paste the merkle hash value around line ~2090 main.cpp

Generate Genesis Block hash and Nonce check the debug log for these values
Paste these values into main.ccp  line ~2090

create the .conf files and make sure one has listen=1

Run the program on two machines
./sublimecoind -testnet -connect=machine1
./sublimecoind -testnet -connect=machine2

Compiling all the wallets headless with no GUI is easy. Compiling wallets with GUI on Mac and Linux is really easy. GUI wallet on Windows is very tough to get working and will take all your time I bet. The barcoin source base uses Scrypt to mine

[jjc326]

Are you tech-savy? I think you'll need to be rather knowledgeable to create your own currency.  If you're not trying to create your own currency I'm not quite sure what you're asking.    I know there are some people who will create a currency for you for a set fee too, look around for them in services I think.

[brokedummy]

no

[sublime5447]

Not very tech savy, but I have run a 13k litecoin mining operation. I am hoping someone out there has worked out how to let individuals issue coins instead of miners mining them. I know ripple lets you issue any asset you want but you need ripples and the colored coins requires bitcoin, someone mentioned nxt allowing individuals to issue assets, but with cyptonotes?

"they would use the cryptonote because it behaves like a cryptocurrency.

I can send these cryptonotes around the world instantaneously, I can own them anonymously, etc.

The most attractive use case for them though is I can exchange them on the AE for NXT or other assets, thus I can easily get fiat into NXT and vice versa without the use of a traditional exchange."

[Peter R]

That looks like it allows me to color code bitcoins. I want to create my own "bitcoins".  

You do create your own coins!  The just sit "on top" of small 6-bit (bitcoin) outputs so that you don't also need to build your own peer-to-peer network and blockchain!  A single 6-bit output could hold 1 of your coins, or it could hold 1,000,000 of your coins.  

In what way do colored coins not solve your problem?  Based on my understanding of what you want to do, they seem like the ideal solution.  

[sublime5447]

It doesnt solve my problem because it is based off bitcoin. I dont want to rely on the bitcoin blockchain or the mining network. I dont want it to be tied to the success or failure of bitcoin. But the main reason I dont want it related to bitcoin is because my friends and family are not going to go out and get bitcoin no matter how small the amount.