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About to Create a More Improved Bitcoin Like Digital Currency - Needs your Support

Discussion in 'CryptoCurrency' started by Minarik1987, Dec 29, 2013.

  1. Minarik1987

    Minarik1987 Junior Member

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    I'm about to create a More Advance Bitcoin Like Digital Currency - Needs your Support and Suggestions.
    I'm been observing bitcoins for many months I decided try to make my own. I know little programming but I have a team of experienced programmers ready to do the work.

    Name of Currency: not yet decided need your suggestions.

    Features:

    CPU only Mining / Asics Proof - This will ensure that it will not be raped owners of asics that currently mining bitcoins. BTW, Bitcoin mining is currently monopolized by few big asics corporation. This will also ensure that new adopters that is fairly new to bitcoins will get their fair share in mining.

    Proof and Work and Proof of Stakes Hybrid - Bitcoin is only a proof a work system. If you have hash power more than 51 percent you can send and chargeback what you send. This is what they called double spend. By adding Proof of Stakes system the attackers not only need to have hash power above 51 percent but also they need to have 51 percent of the coins. Which 51 percent is very difficult to obtain because it will only cause the prices to rise.

    30 seconds confirmation - Btw, in bitcoin it will take at 10 minutes to get 1 confirmation and to make it fully confirmed you need six confirmations. This is not ideal for eCommerce sites. With our new system it would take only more or less 3 minutes to be fully confirmed. Too fast confirmations can also cause the blockchain to split or to create a new different block chain on its own. Which the two different new blockchain cannot send coins to each other. Based on our reasearch 30 seconds confirmation is the best.


    Zerocoin/anonymous feature - This is a proof of concept to make the transactions even more anonymous. So far I know no digital currencies is using this system. This is a system that is added on top of the blockchain to make the transactions even more untraceable. - This can also be added later.


    Promotion

    I think the success of the a digital currencies rely on the promotions. And we are internet marketers. I think its time we have our own digital currency. So we can stop relying on greedy paypal. What if all internet marketers accept a new digital currency. I think with our numbers and sites we control if we support our own currency it could be one of the biggest currency in no time.

    My plan is to create a small premine to award websites and forum owners who will adopt the new currency and others that help promoting it.

    Please let me know what you think.
     
  2. superslikuzi

    superslikuzi Junior Member

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    BitCoin, DigiCoin, BitPay?
    Its a tough market, but best of luck to you!
     
  3. Minarik1987

    Minarik1987 Junior Member

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    Digicoin is one of the bitcoin clones. Bitpay is a company that deals only with bitcoin.

    It's not that tough. Our plan is to add the new coin to the exchanges. I already talk with several exchange owners. Once its on exchanges some buyers will start buying it. And we then start the promotion to make it price rise further.
     
  4. Snckr

    Snckr BANNED BANNED

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    So, another AltCoin? Good luck.
     
  5. Minarik1987

    Minarik1987 Junior Member

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    There is a big difference. We are planning to launch this on big forums like here. If the forums owner are ok. Unlike traditional alts that is launch only on btctalk. By launching on big forums like here it has no direct competition from other alts and it will have ready supporters.

    We are the first adopter of this coin and if this coin becomes big the we the forum members will benefit the most.

    We will also do a great deal in promoting this coin unlike other alts.
     
  6. Wali7

    Wali7 Registered Member

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    Yacoin has already attempted to create a cryptocurrency that would be gpu and Asic proof, about a month and a half into deployment, their script was engineered and a miner was created that used graphics cards, hence causing the total fail of the coin. Can you assure this wont occur with digicoin? If you can assure that your coin is truly cpu only I am right behind you and will support you all the way.
     
    Last edited: Dec 29, 2013
  7. nishat

    nishat BANNED BANNED

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    Be serious with yourself - its not going to work.
     
  8. Minarik1987

    Minarik1987 Junior Member

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    Please give your reasons or ideas why it's not going to work.
     
  9. stugz

    stugz Junior Member

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    Please, please call it Shitcoin. I honestly am waiting for somebody to launch something with this name.
     
  10. howard_hughes

    howard_hughes Elite Member

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    Call It -> AintGonnaWorkCoin
     
  11. Minarik1987

    Minarik1987 Junior Member

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    I don't know anyone mining yacoin using asics yet. Someone did able to create a miner that enable gpu to mine yacoin.

    Our plan is to make the new coin asics proof and at least gpu resistant or very hard to mine in gpu. We will be using tested and working scripts.
     
  12. nishat

    nishat BANNED BANNED

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    It's not going to work because it will have ZERO application. People are already struggling to get online stores and retailers to adopt Bitcoin - and that has MILLIONS invested into it. Why would anyone bother with your currency?
     
  13. jamesjk1

    jamesjk1 Senior Member

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    Good luck OP - I don't know enough about virtual currency, like litecoin/bitcoin, to offer any constructive advice. Don't mean to hijack the thread, but has anyone here invested in bitcoin? Last I heard, it had dropped 50% in response to a ban in China. It's obviously going to be volatile in it's infancy, but I can see the long-term appeal.
    Again, best of luck OP :)
     
  14. coolkumar123

    coolkumar123 Regular Member

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    Idea is great however there are many coins in market and except bitcoin none have gained wide acceptance. Even bitcoin is accepted at limited stores.
     
  15. HeRBaR

    HeRBaR Supreme Member

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    I don't think that this will gone work, anyway if you are convinced just try it.
    It will be very hard anyway and you will lose a lot of money at the beginning.
     
  16. Numbuh362

    Numbuh362 Elite Member

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    This would be a great idea, have a coin everyone can mine, everyone uses. Promotion wouldn't be too hard, you'd have to convince a few people with huge services to start accepting them.
     
  17. WhitePassion

    WhitePassion Elite Member

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    Oh god, it's THIS thread again..
     
  18. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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    Make it super duper advantages compare to BTC man.

    And name it without any "COIN" in the end. Ripple for example.

    Try this, aka straight forward.

    DC = digital currency
    IC = Internet currency

    Juts make it special, and not so related with another junk coin.

    Make it unique on his own.

    Also, just put limit 10M only and give sell/me 1M :D
     
    Last edited: Dec 29, 2013