Post
Topic
Board Announcements (Altcoins)
Re: [PRE-ANN] #coin is coming...
by
hashc
on 19/01/2014, 00:59:11 UTC
Interresting.

I think this coin could have potential, but only if you get some features that make use of the #-tag. Nobody cares about another bitcoin fork, that time is over.
After I first read about this coin I had some ideas that I want to share with you:

1)Use passwords to generate adresses like nxt coin. Bitcoin adresses/priv keys are impossible to remember so name adresses like nxt-coin.
If you are afraid people are too stupid to do it safely add a 6digit random nummer to the users choise. This should make it impossible to brute force wallets unless you know the password. If the user forgetts that number he can still recover the wallet by brute force though.

2)Allow users to set a arbitrary adress to recive funds. (like real hashtags)

For a fee you can permanently register a new hashtag to the blockchain. Everyone can use that tag so nobody owns it exclusively. Every adress can enable just 1 hashtag and will get a chance at the donations to that tag. Donations could be directly or a share of a txt-fee if the sender includes a tag, otherwise nobody gets it. Free change with every txt, leave it or donate it.


The tricky part here is to prevent a 100gb blockchain/month so you can't save all and ever info, but that's not needed. The idea is a bit complex, but in short it's the following:

Every day the funds of each tag will be given to one random adress of that tag. That's just one txt per tag that is generated so there isn't much data here. After that all those "enable hashtag" are removed and you'd need to enable it again. This allows users to delete this from their HDD since it isn't needed anymore. Clients could also ignore it completely, but miners must process it. No cencorship.

This would also allow timestamp the whole chain so txt on #coin could be as safe as on bitcoin!

If you are interrsted i can go more into tec details, but as far as I see it there are no drawbacks other than 1additional bit per txt and people sending useless txt for fun.


PS: What's about the IPO? Can you give more details?