Post
Topic
Board Altcoin Discussion
Re: I will create a forked bitcoin chain
by
doobadoo
on 20/04/2013, 17:47:23 UTC
You could also fix the early adopter/bitdust problems.


1)  Any unspent coins generated/transferred but not spent since the first 18 mos of the network are deleted.

2)  Unspent balances less than .01 are gone

3)  Coins older than 12-18 months are divided by 2.  Coins 18-24 months old divided by 4.  Coins 24-36 months old divided by 8, and the rest are older than 18 months and are deleted.

4) to prevent windfalls to mt gox, who hold a bunch of accounts and won't give that money to their customers in the new chain, cap btc address balances at 100 BTC (currently $10k).  

This might reduce that 11 mil number to like 7 or 8 mil.   you then increase the total coins to ever be released to 100 mil, so current users wind up with 7-8% of the total future supply.

You could form a genesis block that has a special coinbase.  All the current unspent addresses would be the coinbase with balances next to them.

Then you could come up with an adoption schedule over the next 10 year:
Year   % distributed
0:          7 or 8 %  (current base of coins)
1:         +2%
2:         +3%
3:         +5%
5:         +7.5%
....
8:          +15%
9:          +5%
10:        +1%
----------------
Total:    100%


I also suggest changing the protocol to prevent dust.  The minimum unspent output should be established at say 0.001 for txs created in the next 10 years, then 0.0001 (add a decimal place) next 10 years, etc...

Also consider implementing a minimum tx fee, which would kill the need for all this 'how old is yo coin' crap code.