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Offline jae208

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Cryptocurrency Guide and Next Generation Blockchain Innovations
« on: January 01, 2014, 05:02:55 AM »

I believe a very detailed guide on how to create your very own cryptocurrency for fun or profit is something that should be created if it hasn't already!
I don't think anyone out there has done this yet. I think it should be a very detailed step by step guide so that even my grandma can create her own cryptocurrency or blockchain innovations.
I think that the more minds we have that are working towards innovation and implementation of new
cryptocurrencies the better off we all are and I'm sure we'll all learn more from each other.

Who knows perhaps someone's crazy cryptocurrency will contain the killer feature the propels the whole industry to previously unimaginable heights.

Cryptocurrency as a DAC?

What about Cryptocurrency as a multi-cellular biological organism? A dynamic organism with the potential for evolution by reproducing and natural selection?

Who know maybe Artificial Intelligence will arise through something like this...
« Last Edit: January 01, 2014, 05:35:45 AM by jae208 »
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Offline jae208

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Re: Creating a NEW Cryptocurrency Guide VERY Much Needed
« Reply #1 on: January 01, 2014, 05:34:38 AM »
I think innovation happens when ideas have 'sex' and sometimes people who have great ideas that can be applied somewhere out of their domain of expertise aren't applied because they don't have the technical know-how. Guides are simply meant for simplification purposes. People don't just see cryptocurrencies as 'coins' or just plain money that can be sent from point A to point B.

I personally see a similarity between cryptocurrencies and biological organisms. Each node is the equivalent to a cell in a multi-cellular organism. Each individual cell has a job to do that when combined with millions or trillions of other cells ensure the continuity of the organism. Each node in a cryptocurrency network ensures the continuity of the cryptocurrency. Do you sort of see?
Bytemaster sees cryptocurrency as a Distributed Autonomous Corporation.

I think that looking at cryptocurrency in a different way adds to innovation. Remember Bitcoin is revolutionary but it is NOT the best we can do.
Perhaps the blockchain can be used for more than just financial instruments such as DACS...

Who knows maybe we can use blockchain technology to create next generation virtual reality environments? Think of something like Second Life, only that instead of having CENTRALIZED servers creating and maintaining the virtual environment we create a DECENTRALIZED game where we have millions of nodes donating computing power.

Of course the nodes that voluntarily maintain the virtual environment would receive something in return for the computing power. They will have powerful incentives to do so.

The Bitcoin network in aggregate already surpasses the combined computing power of the Top 500 supercomputers in the world. Imagine that we could harness that much computing power to create a virtual gaming environment like Second Life. 0_0

Think of the possibilities...


Now... How do we start? LET'S DO THIS!  :)
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Offline jae208

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Re: Cryptocurrency Guide and Next Generation Blockchain Innovations
« Reply #2 on: January 02, 2014, 11:07:04 AM »
Anyone interested?
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Offline BitShares_BTS

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Re: Cryptocurrency Guide and Next Generation Blockchain Innovations
« Reply #3 on: January 02, 2014, 01:42:21 PM »
Very interesting. This is a good idea.JUST do it ,You can use the same method as the AGS to complete your thoughts!

Offline jae208

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Re: Cryptocurrency Guide and Next Generation Blockchain Innovations
« Reply #4 on: January 02, 2014, 03:19:13 PM »
Very interesting. This is a good idea.JUST do it ,You can use the same method as the AGS to complete your thoughts!

Good point, I actually hadn't thought of that. Now, I understand that AGS is sort of a distributed Kickstarter, at least I think, the thing I don't understand is how you keep track who donated what. Would it be a manually intensive process to keep track of who donated what and when? Or is there a way to automate it?
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Offline Stan

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Re: Cryptocurrency Guide and Next Generation Blockchain Innovations
« Reply #5 on: January 02, 2014, 03:44:47 PM »
Very interesting. This is a good idea.JUST do it ,You can use the same method as the AGS to complete your thoughts!

Good point, I actually hadn't thought of that. Now, I understand that AGS is sort of a distributed Kickstarter, at least I think, the thing I don't understand is how you keep track who donated what. Would it be a manually intensive process to keep track of who donated what and when? Or is there a way to automate it?

When a DAC launches it's Genesis block initializer scans PTS and BTC block chains.  For PTS, it uses all unspent outputs as of the specified launch block.  For AGS it reads the Angel addresses and computes who donated how much each day. (It also reads the Keyhotee Founders donations and computes their Day 1 AGS).  Then it issues those shares in its genesis block.    All this info is public information available to everyone. 

Code to do this will be available in the DAC developer's toolkit so any honorable developer can incorporate it with ease.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline smiley35

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Re: Cryptocurrency Guide and Next Generation Blockchain Innovations
« Reply #6 on: January 03, 2014, 03:59:26 AM »
Very interesting. This is a good idea.JUST do it ,You can use the same method as the AGS to complete your thoughts!

Good point, I actually hadn't thought of that. Now, I understand that AGS is sort of a distributed Kickstarter, at least I think, the thing I don't understand is how you keep track who donated what. Would it be a manually intensive process to keep track of who donated what and when? Or is there a way to automate it?

When a DAC launches it's Genesis block initializer scans PTS and BTC block chains.  For PTS, it uses all unspent outputs as of the specified launch block.  For AGS it reads the Angel addresses and computes who donated how much each day. (It also reads the Keyhotee Founders donations and computes their Day 1 AGS).  Then it issues those shares in its genesis block.    All this info is public information available to everyone. 

Code to do this will be available in the DAC developer's toolkit so any honorable developer can incorporate it with ease.

I sent the PTS for my Keyhotee ID from an exchange. Is this a problem?

Offline toast

Re: Cryptocurrency Guide and Next Generation Blockchain Innovations
« Reply #7 on: January 03, 2014, 04:01:30 AM »
I sent the PTS for my Keyhotee ID from an exchange. Is this a problem?

No, these are processed separately. Some people paid USD, for example.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline Stan

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Re: Cryptocurrency Guide and Next Generation Blockchain Innovations
« Reply #8 on: January 03, 2014, 04:50:06 AM »
No worries.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline jae208

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Re: Cryptocurrency Guide and Next Generation Blockchain Innovations
« Reply #9 on: January 03, 2014, 12:42:32 PM »
Very interesting. This is a good idea.JUST do it ,You can use the same method as the AGS to complete your thoughts!

Good point, I actually hadn't thought of that. Now, I understand that AGS is sort of a distributed Kickstarter, at least I think, the thing I don't understand is how you keep track who donated what. Would it be a manually intensive process to keep track of who donated what and when? Or is there a way to automate it?

When a DAC launches it's Genesis block initializer scans PTS and BTC block chains.  For PTS, it uses all unspent outputs as of the specified launch block.  For AGS it reads the Angel addresses and computes who donated how much each day. (It also reads the Keyhotee Founders donations and computes their Day 1 AGS).  Then it issues those shares in its genesis block.    All this info is public information available to everyone. 

Code to do this will be available in the DAC developer's toolkit so any honorable developer can incorporate it with ease.

Sounds great! I'm excited for the toolkit in addition to everything else you guys are doing. :)

I'm going to think deeply and better organize my thoughts...

The potential for block chain innovations to change the world for the better definitely motivate me.
I'll post and update when I decide on what exactly it is that I will start.
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