I want to make my own coin
I can hear you but I am not crazy, I want to make my own coin (cryptocurrency) with the help of you!
The idea!
The idea is simple i want to fork a coin such as Litecoin and change the parameters to our ideas.
I don't want the coin for myself but i want that other people can help too.
So fork a coin and make a github page, sounds simple! but it is not so simple
therefore i want to ask you for some good ideas and i want to giveaway coins for people with good ideas so the person that choose the best name gets 1000 of our coins when the coin is online, and every comment with a idea gets 10 of our coins in your coin wallet!
Here is a list of suggestions you can think of:
A name
Total supply
Transactions per block
Block time (10 seconds for example)
Difficulty recalculation time
Reward per block
Halving reward
Artwork
If you have other ideas share them too because every idea can help!
You have a week to submit ideas and when the network is online you will get your coins
But we are not done yet because we want to make a exhange too for our coins and other to trade on.
Next week we begin with the video's and blog posts on youtube/dtube and steemit!
The first week we will begin with forking the directories on gitub and making social platforms like discord/telegram/slack to have a chat with our new comunity.
Also if you want you can help us with the development on github or utopian.io!
So i hope you will share some great things and good luck with the name contest!
Follow me @woutersbit
Hey Wouter, kijk uit met het gebruiken van bots zoals deze. Ik heb er een downvote voor gekregen van GrumpyCat. Ik heb er ook een post over geschreven, misschien de moeite waard om eens te bekijken. Ik zal proberen je te antwoorden in een aparte reply op je post, maar ik dacht dat ik dit even moest zeggen.
Bedankt ik let er ook wel op dat ik wel de goede bots gebruik en niet over de 3,5 days post maar ik zal er op letten!
Some general thoughts on new coins.
No 500 billion supply for a start. Those coins will spend their entire life on the lower tier exchanges (I don't know how ripple does it). No coin burns etc either. Keep it simple let the market dictate value based on a sensible supply for your project. Think about it there are only 7 billion humans on the planet and 90% will never own your coin. So 500 billion is too much. People need to think in sensible numbers. If you can keep it at a sensible number in peoples heads they will use the coin more.
Make sure no single person controls too much of the coin apart from you (do not give half the supply to favourite Uncle Bob who then falls out with you etc). You will regret it. Don't pay your developers in coin; pay them in USD. You let them get control they will get greedy and ruin your project with pump and dumps. Been done.
Avoid running forums and chat boards - just do the coin. It looks bad. If people want to do that let them but don't you do it. You can blog but not run a social site for people to cause mischief directed at the coin and you directly on your own platforms.
Your coin has to do something; can't be trying to be BitCoin which is the only value store coin worth anything. It won't fly. Take blockchain and use it to achieve a goal. Not a techie goal a goal normal people need to get done. What are you interested in, can blockchain help make it better? Example there is no loyalty coin I know of were retailers can make use of the blockchain to track and redeem loyalty points (imagine all that heavy infrastructure gone replaced with simple blockchain). Make it cool, make it for the young first not the old and it will catch fire. Blockchain is for the young not the old (sorry old people).
Throw money at the best web site you can get. Pay for high end graphics. It needs to be amazing before you launch the coin. Grab images of the team show the bios. Investors always need to see this as it is like paying off your credit card to credit agencies - it shows you care and are invested yourself.
I don't think minning is of much interest to the average coin user so I would not bother with ASIC resistant minning (but evidently don't make it easy to mine all the coins in one go). I would follow BitCoins example here. Bigger rewards to a small group will make matters easier. There are plenty hobby coins and mostly they have low values forever. I would avoid trying to pay people to "use" the network or "run" the network outside of mining. Don't ask the average punter about your tech or any of this stuff - just do it. They want to see what can be achieved not how it is achieved.
Wish you all the best with your coin! Hope you achieve something and don't just make money as reputation lasts forever money doesn't.
Thank you for this useful comment I really appreciate it and I can make use of the info/thips!
Do you have some some thoughts on like:
A name
Total supply
Transactions per block
Block time (10 seconds for example)
Difficulty recalculation time
Reward per block
Halving reward
Artwork?
It can already help help if you can choose one item if you don't want to answer them all
Name: WitCoin, that way you can use (WIT) on the exchanges 😃
Leuk idee maar jammer dat de coin al bestaat
FlipCoin?
Duppie?
Geeltje?
FlipCoin is een goed idee misschien iets met dat je dingen kan ruilen met elkaar
Duppie Of geeltje klinkt volgens mij een beetje raar in engels
Ik kan me voorstellen how die Ami's Duppie of Geeltje noemen en vond het een toepasselijke referentie aan vroeger 😂
FlipCoin is ook een referentie aan de uitdrukking 'to flip a coin', now they can just FlipCoin
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I like your idea of making your own coin, but unless you have an immense resource of money, time and energy, I wouldn´t do it like this. Why don´t you just issue your own token on the Waves platform, which will cost you nearly nothing and you are good to go in minutes?
I know but it is also a kind of experimental thing and want to it to be a pow coin but maybe I do something with tokens
PoW is also proof of environmental pollution, power wasting and unsustainability ;) Ok, as you see, I´m not a huge fan of PoW coins and avoid them in my portfolio. There is a reason in my opinion, why all 3rd Gen coins rely on DPoS or similar concepts - it´s also a matter of scalability and to keep things in a smaller frame: people want to be part of and active in a blockchain, to identify themselves with a project. Most people simply can´t afford PoW, but can (like Steemits "proof of brain") offer other resources in a much better and more human way. Just my 0.02 SBD on this topic :)
This wonderful post has received a @woutersbit 6.19% upvote from @mrswhale. Discord Channel: https://discord.gg/XG4y3mg You can vote in the name of the odl. https://steemit.com/~witnesses
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interesting, will be following you to see how things proceed as i am also interesting in making own coin :).
But one of the important things should be idea behind the coin. I mean,how it will be useful for humanity,what problem it will solve? I think this will be the main differentiator. Otherwise it can be just one of thousands of coins.
good luck.
Thank you I appreciate your intrest!
you have any ideas or tips on things like:
A name
Total supply
Transactions per block
Block time (10 seconds for example)
Difficulty recalculation time
Reward per block
Halving reward
Artwork
Find it awesome if you have some ideas!
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