Ninjastic
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Board Announcements (Altcoins)
Re: [ANN] ERMIS (ERM) |The Merchant Coin| Proof of Investment |LIFETIME SHARES
by
cryptobuddy
on 23/10/2014, 08:21:42 UTC
Quote from: DailyModo on October 23, 2014, 07:32:40 AM
Quote from: cryptobuddy on October 23, 2014, 05:35:41 AM
Quote from: lionheart78 on October 21, 2014, 10:15:00 AM

Quote
After one has spent his/her coins for many times, how your team could trace how much ERM this guy has? According to Bitcoin protocol, it is impossible/very difficult to trace how many coins a coin holder has.

If it is too difficult of us to trace the Coin holders Coin we can always take the steps of  manual verification for precise calculation of coin share for ea holder. Otherwise we will verify them thru final balance of coin on ea addresses ^^, but am sure Tech team will come up for a solution for this.

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manual verification

Not possible if your altcoin becomes successful

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Otherwise we will verify them thru final balance of coin on ea addresses

Seem like you are proposing some promises, but do not have a correct concept about "address" for bitcoin-based cryptocurrencies.

Your tech team better providing a solution here before doing the IPO.
 
Good luck.

Actually  it will be possible to create an automated system which will simply share to every adresses on the blockchain once it grows big enough excluding the specific exchangers adresses.

For now this is not a concern.

"an automated system which will simply share to every adresses on the blockchain once it grows big enough" Huh

... Your answer really makes me worry. You really don't understand the concept of bitcoin protocol.

I am having an opposite thought. This is much more difficult (not so simple) when the blockchain grows bigger and bigger.
It is because it will require a lot of computation power to do blockchain analysis to find out the "real balance" of every single addresses when you have a blockchain of gigabytes or more..... LOL

P.S. The address balance is a wrong concept!!!!  This is a common mistake among "non-technical" bitcoin users.

This misconception always leads to the questions about "negative wallet/address balance"!!!

Copied from "en.bitcoin.it"
Users who see addresses reused may incorrectly be led to believe they function similarly to wallets or bank accounts. Often this is manifested in people talking about nonsense like "address balance", "wallet address", "from address", and similar misconceptions that don't actually exist in Bitcoin.

For details and funs, you could visit the following urls.
https://en.bitcoin.it/wiki/Address_reuse
http://www.reddit.com/r/Bitcoin/comments/20w6nj/how_is_having_a_negative_balance_on/
https://bitcointalk.org/index.php?topic=722205.0;all