On Fri, 16 May 2014 19:23:43 Matt Giuca wrote: > The interesting thing about Bitcoin is that the ID of the genesis block is > hard-coded into the client. Every bitcoin transaction must be verified on a > chain that goes all the way back to the genesis block, or else it is > ignored by all the clients.
One would hope that at least some of the client programs would take this as a parameter that can be changed. Usually hoping that programmers do the right thing leads to disappointment, but it should be easy to change when source is available. > What that means is that if you take the Bitcoin source code, generate a new > genesis block, and modify the code to mention your new genesis block > instead of the official Bitcoin one, you will have effectively created a > new currency. Anybody who uses your modified client will be dealing in your > currency, as their blocks will be incompatible with the main Bitcoin > blocks. I believe this is how many of the alternative cryptocurrencies like > Dogecoin work -- they are just Bitcoin with a different genesis block. > > (I have never done it though.) Sounds like fun. > If you want to make different rules than Bitcoin, like you running the > central bank, then you'll have some work ahead of you though. My user base won't have the ability to develop their own bitcoin software in the near future, so I can rely on security by obscurity. ;) > Another cool looking technology I read about is > Ethereum<https://www.ethereum.org/>. > This is a new cryptocurrency based on Bitcoin that is *programmable* -- > every transaction can include code* in a Turing-complete language, which in > turn lets you build all kinds of things directly in the Ethereum block > chain, like trust systems, gambling systems, and even microcurrencies. Not > sure how realistic it is, but certainly fun to think about. Yes, an interesting concept. Thanks for the suggestions. > *Yes, Bitcoin transactions can include code too, but it's much more limited. > On Fri, May 16, 2014 at 6:51 PM, Russell Coker <russ...@coker.com.au> wrote: > > I'd like to start my own crypto currency. What's the easiest way of doing > > it? > > I'd like to use an Android phone client for payments if possible, > > hopefully a > > FOSS Android app at least. > > > > The total value of currency released will be only a few hundred dollars. > > > > Also I want to run the central bank and be the only issuer of currency. > > > > Any suggestions? I guess I could just buy half a bitcoin, but it might be > > more fun to start my own. > > > > -- > > My Main Blog http://etbe.coker.com.au/ > > My Documents Blog http://doc.coker.com.au/ > > > > _______________________________________________ > > Free-software-melb mailing list > > Freeemail@example.com > > > > http://lists.softwarefreedom.com.au/cgi-bin/mailman/listinfo/free-software > > -melb > > > > > > Free Software Melbourne home page: http://www.freesoftware.asn.au/melb/ > > _______________________________________________ > Free-software-melb mailing list > Freefirstname.lastname@example.org > http://lists.softwarefreedom.com.au/cgi-bin/mailman/listinfo/free-software-m > elb > > > Free Software Melbourne home page: http://www.freesoftware.asn.au/melb/ -- My Main Blog http://etbe.coker.com.au/ My Documents Blog http://doc.coker.com.au/ _______________________________________________ Free-software-melb mailing list Freeemail@example.com http://lists.softwarefreedom.com.au/cgi-bin/mailman/listinfo/free-software-melb Free Software Melbourne home page: http://www.freesoftware.asn.au/melb/