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Author Topic: A coin with no limit  (Read 763 times)
gamebak
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June 30, 2012, 10:58:13 PM
 #1

What if there will a coin with no limit to reach, but to keep the hashrate under control.
You could say about inflation, but we can keep it under control by changing the difficulty when mining.


Another important fact may be if there could be any algorithm for miners so that only cpu is capable (i doubt this part).
Tell me what do you think about this, also come with more suggestions please.
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steelhouse
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June 30, 2012, 11:15:14 PM
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There is one, liquidcoin and it may be still going.  After the initial phase you only get 1 coin per so much hashrate.  The only thing I don't like about it is he really rushed it and some of the same tenebrix icons are used on the coin.
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June 30, 2012, 11:17:57 PM
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That project seems dead to me, their website doesn't even work Sad
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June 30, 2012, 11:43:42 PM
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it is still traded at vircurex.com
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June 30, 2012, 11:57:59 PM
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A project where the main website is down = 0 trust so it won't work for long time if they keep it like that.
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July 01, 2012, 02:48:36 AM
 #6

Yes, but it used the concept.  I thought it was a good concept.  They wanted to have an initial period of high inflation (block rewards 50 instead of 1) so the inflation would not be high the first few years.  If you have constant mining from the start the inflation might be 100% annual the first year, 50% the 2nd year, 25% the 3rd year, ...  If you want to you probably could buy some, make a website and take over the coin.  Improve the code if you can find it.  Possibly you can switch the algorithm to use gpus.  This coin more mimics the way gold operates, if you want more mine more. 
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July 01, 2012, 02:56:51 AM
 #7

Liquidoin had fixed difficulty, which caused ever-increasing orphan rates as more hashing power was used. So basically it didn't adapt, it jsut got more and more and more errors (orphaned blocks) the more people mined it. Thus it was pretty much broken-by-design.

GRouPcoin and DeVCoin both have no limit to the total number of coins, they keep mining coins forever. So for anyone looking for an inflatacoin either or both should work fine.

-MarkM-

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gamebak
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July 01, 2012, 04:17:35 PM
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Thank you markm, i will have a look at those coins. I am really looking forward for an unlimited coin.

Another ideea for a coin is to calculate the trade price (estimated) based on transactions, and this to be done from the main server. This is just to keep it at a real/fair price for the entire market.

But this doesn't mean that exchange websites can't apply their own price.
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July 02, 2012, 03:38:44 AM
 #9

Another ideea for a coin is to calculate the trade price (estimated) based on transactions, and this to be done from the main server. This is just to keep it at a real/fair price for the entire market.

But this doesn't mean that exchange websites can't apply their own price.

You seem to have a very strange idea of how prices work. Exchanges do not set their "own" prices, the users set prices for themselves. The exchange site has a matching engine which searches all the orders placed by the users, and if finds someone willing to sell for a price that someone else is willing to buy at, it makes the trade. A trade will not happen unless the price is agreeable to both the buyer and the seller, and this is true for all transactions, not just those that take place on exchanges. No other price is "real" or "fair".

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
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