Conceptually create the best cryptocurrency you can with known tech. What you think is the best mining method...

Conceptually create the best cryptocurrency you can with known tech. What you think is the best mining method, best miner payout, hell no mining at all if you really think that's the best. Anything you can think of to make the best crypto to be used as a currency

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The lightweightness of raiblocks with the open and transparent accounting of REQ. It can be used as a loan like SALT also.

Not even a token, but if a single company would rise to be a contractor for UI development and just create stream lined UI for any token willing to hire them.

Skycoin is pretty much doing it all, plus giving us back the glory days of the internet. They might be trying to do too much though, and the dev's are pretty autistic.

OG crypto heads though, for sure. I'm invested for the chance at making a world I want, Its not a get rich quick coin (yet). Some hardcore marketing could really change that though, because the project is fucking groudbreaking and truly irreplaceable by any other crypto.

So basically skycoin, but with a marketing team.

Fucking this.

What about a coin kinda like funfair for an online game in which you stake some starter funds and if you do well you get paid (in the tokens)

I'm intrigued. I just skimmed through their website and it looks like they are doing a little too much all at once but I am a fan of the idea.

They have multiple whitepapers which is retarded but I have faith in autism to get us where we need to be.

What can you tell me about it?

Monero but with Digibyte scaling and the ability to be traded for in-game items across different gaming platforms (like DGB will be some day).

I want organized crime trafficking my cryptos through WoW guilds and everything.

I've asked Jez about skill-based games, he said:
FunFair-Jez - 12/03/2017
we would need to look at it a lot more closely. but its not our main market, which is making gambling games fair. skill games should already be fair, but of course, how would you know!?

Basically, someone will have to open up such a website using FUN tokens. The only thing is - what benefit is there for using FUN in that case? For gambling, the cheating generally would occur on the casino's end. For skill based cash games, you'd have to be able to use FF's blockchain tech to verify that the player wasn't cheating instead (memory hacks, packet manipulation, bots & scripts, etc.).

Depending what you mean by known tech, it doesn't really go beyond PoW. Everything else is not complete.

PoS offers super fast block consensus and does not consume ridiculous amounts of resources.
Sharding speeds up consensus further if needed and lowers the memory storage requirements for nodes.

Coins should be uncapped. New coins are distributed proportionally to PoS nodes. The coin amount should slowly increase because it accounts for lost coins, and is generally good for the health of the currency. Having a limited amount of coins is retarded if the goal is to actually have something usable as a currency in the future. The inflation should be adjustable.

As far as I know only ETH devs are working on PoS and sharding. As in actually working on a real solution instead of doing a broken hack implementation.
The tangle might be better than PoS and sharding but it's so far from actually working that I can't seriously say it's "known tech".

Tech that is not being developed that I think is needed:
A way to compress old parts of the blockchain into essentially [address - amount] instead of having a bajillion transactions.
A way to remove lost addresses from the blockchain. The only way to do this one would require address owners to regularly (let's say every 5 years) connect to the network to confirm their continued ownership of the address.

Those were my frist impressions. I first checked them out in 2013-2014 but wrote it off as very far from maturity (I was correct). They are going in a LOT of directions, but they've been at it non-stop since the end of 2011. It's just now leaving stealth phase because the developers all have so much bitcoin (that they got unimaginably cheap), so they have NEVER tried to pump the project for cash flows. That to me is HUGE.

Money means nothing to these guys. Success, however, is paramount. All those directions have been developing for 6-7 years, and are finally coming together.

The backbone is a meshnet connecting through any possible datastream. I'm talking USB, Ethernet, WIFI, 3/4/5G, HAM radio links, VPN tunnels through legacy ISP/L3 backbones, anything that is popular/available enough to warrant the development work.

All traffic is encrypted end-to-end, all traffic is dynamically multi-hop routed like the TOR network. Low "mining" resource overhead because instead of PoW it uses a hybrid system incentivizing packet forwarding (network participation). None of that energy is wasted. Its a decentralized ISP.

Smart contracts, dapps, there's a messenger and a BBS (both are functioning proof of concept, with literally no features/bells and whistles. These guys have been working from the bottom up.

Mark I network hardware (skyminer) is being set up for testnet right now (I believe). Wallet and apps are fully functional routing through local home IP over legacy TCP stack.

I could go on. I'm still catching up on how far these guys have gotten in 4 years. I'm fucking impressed.

Removing lost addresses should require some verification w/ their private keys + previous transaction addresses confirming

But I'm not sure how useful it'd be

One that lets you cash out

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Quit shilling this everywhere you fuck

Reminder that PoS is garbage for any actual currency.

>Coins should be uncapped. New coins are distributed proportionally to PoS nodes.

doesnt that mean the rich get richer and the poor get poorer?

I'm all for an uncapped coin with continuous distribution, but shouldn't it be distributed diffefrently? Not sure exactly how though

This is why we still need mining, but not PoW. Something like Burst except not broken as fuck and easily susceptible to attacks. The main issue of PoS is that it just takes currency out of the equation and makes it straight up unused. Good if you wanna have the price of a thing get driven up by less in circulation, bad if you want something actually stable. Also the whole rich get richer thing is pretty shitty too

to be honest: BTC is the best tech and it will get even better with Lightning. Can’t get any better from a technical POV...

After I typed that I realized that it would be a problem, yes. It would eventually lead to a situation where the established PoS nodes are growing so fast that no one else can catch up, giving them a control over the currency supply. Eventually the number of nodes would get smaller, giving them even more control. There is a possibility of eventually only one node remaining.

If PoS nodes are not getting the new coins, then I have a random idea. What if new coins were given to the receiver of a transaction, as a percentage of the transaction fee that was paid. Let's say you pay 30 cents for a transaction. The PoS nodes get those 30 cents. The destination address for the transaction gets the transaction amount + 20 newly created cents for free. This seems to not be abusable as long as there are enough different PoS nodes to split up the fee. Anyway, more intelligent people have probably already figured all the different options.

>BTC is the best tech

Lmaoing @ 5419892

The best tech for massive mining operations since the fees are so high. Miners are cashing in big time on the fees

I want mining to become truly decentralized so badly. Major mining conglomerates can get fucked

Yeah. It's kind of bullshit. You have to have a huge chunk of change just to compete with them.

It's almost like the Miner's are the jew banker's. Without the Miner's BTC is fucked and it takes tons of money to set up now.

Genuinely surprised how good of a thread this is for Veeky Forums standards

mmm interesting idea, though it sounds like it could be fooled somehow since rich people could make a lot of bogus transactions among their accounts.
Not like pow is inherently better, in the end for everything in life the richer get richer, theres not much ways around it, unless you make the pow require some human work, something that a machine cant do, but idk if that's feasible

Me too, but it's sliding the fuck down. Let's argue some idiot drivel to keep it bumped.

I'll start: BTC IS DEAD AND BAKRUPT, BCASH WILL REPLACE IT

All you need is a visionary like me im already in the future conceptually, all I need is the best team of coder developers and software engineers to take you into the next era.

ok master, i'm a top coder, what should i code?

>all I need is the best team of coder developers and software engineers

no you don't lol

First of all a true or false filter layer...

Consider it done. Then?

What kind data is going in? Is only bool (true/false) coming out?

We are going to need the internet itself to be decentralized.
We're going to need energy to be decentralized.
Get rid of mining completely. Or if not possible put solar mining on mars.

Yes this layee it works by percentages the majority true data is considered true.

So to clarify regarding this layer it will neither delete nor add data it will simply Mark true or false and let artistic data thru.
This will elimate human error and void the scam, scum, cheater, monopoly and tyrants In the future. For example if a AI or human starts to spread lies the majority will mark it down, it's vote will be worth less.