1. bare minimum of course is just your transactions but a better gui for marketing purposes ( i believe it would appeal more to average joe and especially if it is an app)
2. ...""so that everyone has a fair chance at creating money"... yes, alot of people do not get to mine bitcoin because of the hashrate. As well at any point in time you want new users to come on board and mine the coin to add to the network, this creates an ever increasing infrastructure that is very hard to fall down. Might even reduce that so called 51% attack if no-one is using pools and just mine with their pc or smartphone.
3. I do not really understand merge mining except that it brings more miners on board as they can mine both btc and this coin. Ultimately the miners are your infrastructure, not a prerequisite if you are able to bring new miners in at any time giving them the same chance as everyone else.
A side note - these features all seem to me to reduce a pump and dump coin, but at the same time a profitable coin due to the fact every time you make a transaction or open the wallet it mines something no wasting money on hash rates, electricity and pc power.
A side note - i believe the payment gateway is the key to new users and profits, this will create a community that can use a coin straight away and that community can even help businesses adopt the coin by showing them a simple payment gateway for transactions.
wallet should include everything, mining, trading, purchasing, accounts, payees, messaging etc etc etc
ohh ohh and mining that is done at one hash rate only (the more hashing you throw at the coin does not matter as it will only accept the one hash rate), so that it is achievable by all. Can be mined on a smart phone and every thing i do in the wallet gets me rewarded with coins
merge mined with bitcoin
Thank you for all the feedback, I've reduced it to the items which may warrant some discussion.
1. Swiss Army Knife / Monolithic Wallet
The introduction of all the features you mentioned feels like bloat and the introduction of many attack vectors. Whilst they are all cool/novel things, which would you say are the bare minimum requirements for the coin to have utility?
2. One hash rate only
I need to think about this properly, can you enlighten on why you suggest this, is it so that everyone has a fair chance at creating money, or are there alternative reasons?
3. Merged Mining
If we go past the specification stage and implement this, then the project will be a very long term project and aim to offer a viable alternative to bitcoin. I can see that merged mining could help the miners, and that it could theoretically make the network more secure (a higher difficulty and more hashing). But I worry that it would force fee reduction, making the network less secure, and that such tight association would be sending a message from the off that this is a second class coin, always to be subsidiary to Bitcoin.
Can you comment?