[Project] Kleptocoin - A 100% unique cryptocurrency

[Circonference]

Hi Everyone,

We are almost ready to submit a whitepaper about Kleptocoin, a coin you can't hoarde in a system where everybody is a bank. It's an experimental coin that we hope will find a use case. Or, the technologies proposed could be useful to other projects as well.

You can find out more about it on the site and there is even a podcast where we talk about the specifics. You can then send in your feedback (I have already received interesting feedback about feasibility of certain aspects of this.) If you would like to join this litttle bit f contribution to the great big R&D project of cryptocurrency, you can do so by contacting us.

Kleptocoin.com

Thanks,

Marie-Lynn
Circonference.ca

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[Willisius]

I can't seem to find any actual specifications, even on the specifications page. Just a lot of promises about how it's different and "revolutionary."

[xiaobei]

Don't understand what the developer to do

[Circonference]

I can't seem to find any actual specifications, even on the specifications page. Just a lot of promises about how it's different and "revolutionary."

The podcast explains in more details the concept of this coin. Essentially, the documents currently available are easy to consume. You can also wait for the whitepaper to come out if your prefer.

[sxh]

good idea.
 

[iGotAIDS]

"We are two modern slackers who live in Montreal where we specialize in selling people solution to problems they do not wish to admit they have."

Apt, quite so. Make sure to premine it hard n'stuff, the dumps are much better that way.

[Circonference]

Apt, quite so. Make sure to premine it hard n'stuff, the dumps are much better that way.

If you look into the currency seriously you will realize that it is not functionally possible.

[Lemayilleur]

The polymorphic algorithm is definitely something I would look forward/invest into. We need an algo where everyone can participate (mine) but that cannot be further centralized by ASICs. This could further push and speed up the CPU/efficiency R&D, instead of having companies "wasting" time and effort creating dedicated hardware(ASICs) that worthless from a technology advancement perspective. Since ASICs cannot be used for anything else down the road (as far as I understand ASICs?).

Although I'm not sure about the torrent-style minimized block chain. The cost for storage space keeps getting cheaper and cheaper. And with the technologies in R&D at this time, it'll just get crazier. There's good reasons to believe we'll be able to store Terabytes of data on USB sized object in the next decade. Same goes for world-wide connectivity (and download/upload speed). I'm not sure if you would benefit spending time developing this idea if we're likely to not need it couple years down the road.

As for the "you cannot horde Kleptocoins" and the need to always be "spending" it; isn't there high chance that AI would take over? Don't you think there would be tools/bot created which would be much more efficient at keeping an eye on the block-chain and "distributing" their coins almost perfectly? It's almost like they could predict the future by looking at the spending movement and the expected return of the spender. I'm not sure if I'm able to get my point across, or if I even understood the "game" right lol. So bare with me.

[Willisius]

OK I caved and listened to the podcast, but for the record a white paper would be a lot better. So apparently I can send someone Kleptocoin, and a "trickling" will take place in which I eventually get all their coins. So I guess I could just send a few coins to the richest address I can find, and get all their coins.

It's definitely not suited for use as a currency. In the podcast they even joke about how you would trade it for a coin with "more coherent behavior..." But anyway, they don't hide this and they're not ashamed of it. They obviously see this as more art than science, which isn't necessarily a bad thing. Hopefully I'll be able to get in on this, but there's no way I'm "investing" in it. That's part of why I want to get in on this: It's not suitable for investing in, which kills most - if not all - of the hype that obscures a coin's value. In fact, you probably won't even be able to buy it on exchanges.

Basically: Sounds fun! Just be sure not to put anything into this that you aren't willing to lose, because you absolutely will lose it.

[Circonference]

Basically: Sounds fun! Just be sure not to put anything into this that you aren't willing to lose, because you absolutely will lose it.

Willisius, you totally get it It is a 100% self-aware surrealist art coin! The more we think about it the more we see that some people could have an actual use for it, if the trickle rate is adjusted but I really don't think an exchange should carry such a coin, it works backwards!!

And yes, as a holder of a few KLEPs you can send your coins to all the big wallets and profit

The white paper should be available soon and I will update the OP to reflect that.

Thanks for your feedback

Marie-Lynn

[Circonference]

Although I'm not sure about the torrent-style minimized block chain.

You would be the second person to bring this up! It is also something that could be time-consuming but useless in the end! (A solution for a problem that does not exist!?)

As far as people using bots to game the system, we thought about it too. Kleptocoin, the way it is currently being developed, is a game model and active players would have a definite advantage over those who do not play (who do not contribute to monetary velocity.) However, imagine if we lived in a world where people were functionally incapable of hoarding resources?

How everything would be different!

Marie-Lynn

[Maxmast]

how distribution

[ximennet]

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[bonipper]

Why call it Kleptocoin when a Kleptomania means a compulsion to steal?

[YarkoL]

Interesting.

[Hesiod]

That's quite a strange name for a coin...

[Hobocc]

have a ipo?