How to create your own altcoin like bitcoin?

submitted by rononmargo from coinscribble.com

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[–]AnarchySpeach 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (3 children)

The key is the blockchain. Does most of the work.

More important is how public the code is. Nobody's gonna trust their life savings to it unless a bunch of smart people explain it's safe.

For a small scale example I recommend looking into dogecoin. Similar idea.

[–]magnora7 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (2 children)

Dogecoin is actually what I am going to base saiditcoin off of, funny you should say that. The design is just very good, and the transaction fees are super low, and it's all open source. Basically perfect. The only other feature I want would be something that can't be ASIC mined

[–]AnarchySpeach 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

Are you aiming for site usage on comments/posts or something grander?

[–]magnora7 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

I want to develop saiditcoin as a way for saidit users to tip other saidit users, but it not influence the votes or ranks. Then I also hope to have it be mineable in-the-browser if you want, without downloading anything. This way users can hang out on saidit and mine coins if they enable that.

Then eventually when saiditcoins gain a real-world value, we can begin using them to pay for server fees. Then we're on a whole new level of self-sustainability.