Post
Topic
Board Altcoin Discussion
Re: Best way of initial coin distribution
by
The Chainmaker
on 26/02/2015, 12:15:25 UTC
After reading the suggestions I came to such a method:

1. Create a mintable Nxt subcurrency and let people mint as many coins as they can within 24 hours.
2. Create a special Bitcoin address and let those who took part in the previous step send several satoshis to back every minted coin.

These two simple steps solve sockpuppet issue (because resource testing is used), greatly reduce number of script kiddies (or school network admins) with botnets (because minted coins must be backed by bitcoins) and reduce advantage of being a Bitcoin early adopter (because minting requires a lot of GPUs and ASICs can't be used for that).

So, this whole thread was just a pump for MS on NXT?  Go fishing by asking people what is the best way to distribute and then tell them.... "I found the answer, it is NXT!"  Bull $&!#. 

I was thinking that what you really want is as LARGE an initial user base as possible.

I don't need too many users. 1000 is max.

If you want 1000 people that aren't socks, then get a script and start sending out invites to all BTT members with the most posts.  Person with the most posts get the first invite, person with the second most gets the second invite.  Do batches of 50 or 100 every so often.  When 1,000 people have responded to you, stop spamming. 

This proof of comments and is much harder to game than other systems.  Somebody simply can't have a lot of sock puppets each with thousands of posts.