Thanks. Looks a daunting task then.

I don't understand this.



You can add millions of addresses, but as long noone wants to send you money, you get nothing.
The holder has to pay, but he gets to decide whom he wants to pay. If he or she chooses none, then the decision will be made by the community.



Yes! The world would have 1bit Royen coin forever! It will be the total size of the economy forever.
If the world needs two coins, the Royen coin gets split and the world will have two 2bit Royen coins, worth one 1bit Royen coin.



Both apply to the same rules. Keep them too long and they will go to the job market. That way, no coins will be lost forever preventing it from being a deflationary currency.



True, I however meant, rules that make sense. For example the Occcu, I don't understand the reasoning behind adding 10.000 coins to your wallet. Or why do people get money for simply having lots of GPU?
Or why divding the bitcoins to a quadrillion? I don't consider that readable with the type of numerals we use. It's also psychologicaly unsound for me and I'm sure it will be for others, because if I have to trade
in bitcoins it keeps making me feel I will never have that much money if I spend it.



Yeah, I immediately thought of that problem too. I'm thinking of a mechanism that if you get caught doing that, you are fined for double and someone else or the community decides who will be employed with that money.



Yeah, I'm looking at it. Is the Bitcoin's client source code all the source code that's needed?


Thanks for your criticisms.

If a buyer has 5 6bit-cents and double-pays 4 6bit cents for 8 products, all second transactions will be considerd invalid,
You'll get 4 double-spending points, making you an unreliable costumer and because so many mini-transactions have been made,
you can't spend your last 6bit cent until both you and the new seller are then focrced to use 7bit transactions.
Thus you'll have 2 7bit cents, which is worth 1 6bit cent. You cannot double your money by spending small amounts of it!

Thanks for your criticism!  

So what does Bitcoin do to prevent this from happening?
And how does Bitcoin prevent anyone from spending fake coins?

From what I've read so far, the second transaction will be considered invalid. My currency will do the same.
I'm not sure what Bitcoin does to prevent both products delivered, but you certainly will be given a bad rating as a costumer, thus losing trust from other potential sellers.

Thank you for your criticism!

What are double spends and how do they occur?

That wouldn't work.
All money would be "doubled", not just yours, so you'd still end up with less money, but you're able to make smaller payments.
But thanks for the idea, I wouldn't want the quantifier to go to infinity, because of a single bot in a community of a million.

all the money in the world =
1 1 bit cent =
2 2 bit cents =
4 3 bit cents =
8 4 bit cents =
16 5 bit cents

and so forth.

I've looked at BitCoin and although it looks very promising, I don't like the idea of mining, nor the maximum of just 21 million .

So I made a concept for an alternative currency which I'll call Royen Credits for now.

I would love to hear criticism for this idea,
and advice on how to launch a new cryptocurrency.
And if someone can think of an even better name, I would appreciate it very much.



The aim of this currency is:

• Most importantly and ultimately, to prevent massive unwanted unemployment, unpaid employment and bonded labour forever.
• To be able to transfer money for free.
• Have a currency that is both wanted and in full circulation.
• To be able to both scale incrementally as well as decrementally so that no inflation or deflation occurs.
• Have simple rules anyone can understand.

And of course since it's a cryptocurrency:

• To have a transparent currency
• To have a A decentralized currency
• To have a A P2P currency
• To able to trade it using FLOSS software

These are the rules so far:

• If someone holds money in this the currency for too long or lost due to attrition, the money will be spend on startups and new employment.

It's not clear yet how this mechanism will work, but the payment direction will be decided by the holder and the employment and startups lists by the community.

• All the money in this currency should double in value if too many payments are done in single units (cents). In order to prevent payments done in undoubled money,

all wallets will contain a bit marker. If too many payments are done above 100 units (a single coin),  the money will be halved again and halved money will be frozen in the wallet,
but this is not expected. It is not clear yet how many is too many.

• In an attempt to do this this new currency will simply start from a single 1bit Royen coin, held by me of course.

Wikipedia. I was looking for an alternative for Moneybookers, preferably one that doesn't take away money if I transfer money or tells me to need to have a bank account.

Thank you very much, kind Sir.
I'm sure my Princess will be pleased to hear this.