Coinspiracy: Better Coin

Showing posts with label Better Coin. Show all posts

Friday, 9 September 2011

42Coin

42coin

-42 coin per block
-4.2% inflation lol
- 4.2 minute blocks
- retargets every 42 minutes

This currency would be started by a man named Deep Thought.

Saturday, 27 August 2011

Radioactive Coin

https://bitcointalk.org/index.php?topic=39751.new#new

Hey guys! Hey guys! I got one!

New digital super-currency. Everyone who downloads the RadioActive Coin client gets precisely 1 RadioActive Coin (this is OK, though, because it's divisible to 398 billion digits). The only exception is me, who gets 10,000 RadioActive coins. Each coin has a half-life code built into it that's proportional to the total number of RadioActive Coins. If 1 and only 1 person has a coin, there's a 10 minute half-life. If 2 people and only 2 people have a coin, there's a 20 minute half-life. 3; 30-minute, 4; 40-minute, etc. The RadioActive Coins decay randomly according to the current half-life rate. My 10,000 coins have no half-life rate cause I'm the ingenious mofo who created this.

Know what happens if it's your coin that happens to decay? Your computer explodes and you die. You fucking die.

For your sake, Better hope this catches on quick!!!!

Bitcoiners reactions

This is not the "Stupid Jokes" Forum.

Thursday, 18 August 2011

A better coin

The block reward would start at 1 coin per block. Over the next 10 years (or other forcasted time-to-adoption period), the reward increases exponentially to 500,000 coins per block. Once reached, this reward is sustained forever.

Bitcoiners reaction

I think it would be an interesting idea.
I mean Bitcoin is the first of it's kind to combine computer power and a currency.

And, I agree with the new/better coin idea.

Without the "early adopter problem", who has the incentive to adopt it? BetterCoin might not have an early adoption problem, but it would have an adoption problem.

It's been suggested a number of times before under Inflatacoin, Keynescoin, etc. Nobody has cared enough about the idea to actually spend the time creating the new chain. People wouldn't buy or mine it because with inflationary currencies you either use it right now or you lose your purchasing power, and since there would be nothing to buy with it then the only option is to lose.

I ROFL'ed at the top post. But it seems that you're actually serious?

Please answer how we get over the early adopter phase in such a currency. People need incentive, and it's not enough to just say "it will take off", people need to believe why a never ending inflationary currency is worth their time.

What is a blockchain?

A block chain is a transaction database shared by all nodes participating in a crypto-currency such as Bitcoin. A full copy of a currency's block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history. Every block contains a hash of the previous block. This has the effect of creating a chain of blocks from the genesis block to the current block. Each block is guaranteed to come after the previous block chronologically because the previous block's hash would otherwise not be known. Each block is also nearly impossible to modify once it has been in the chain for a while because every block after it would also have to be regenerated. These properties are what make double-spending of bitcoins very difficult. The block chain is the main innovation of Bitcoin. Honest generators only build onto a block (by referencing it in blocks they create) if it is the latest block in the longest valid chain. "Length" is calculated as total combined difficulty of that chain, not number of blocks, though this distinction is only important in the context of a few potential attacks. A chain is valid if all of the blocks and transactions within it are valid, and only if it starts with the genesis block. For any block on the chain, there is only one path to the genesis block. Coming from the genesis block, however, there can be forks. One-block forks are created from time to time when two blocks are created just a few seconds apart. When that happens, generating nodes build onto whichever one of the blocks they received first. Whichever block ends up being included in the next block becomes part of the main chain because that chain is longer. More serious forks have occurred after fixing bugs that required backward-incompatible changes. Blocks in shorter chains (or invalid chains) are called "orphan blocks", and while they are stored, they are not used for anything. When a block becomes an orphan block, all of its valid transactions are re-added to the pool of queued transactions and will be included in another block. The 50 BTC reward for the orphan block will be lost, which is why a network-enforced 100-block maturation time for generations exists. Because a block can only reference one previous block, it is impossible for two forked chains to merge. It's possible to use the block chain algorithm for non-financial purposes, learn more about Alternative Chains.