RANDOMCOIN

New repo showed up on github an hour ago. No code. No README. No commits. Just a name and one line of description:

That's it. That's the whole project. Either this is the laziest altcoin launch ever attempted, or it's the shortest whitepaper in history.

Nobody knows who billym2k is. Watching this one.

Random block rewards? So you want a lottery, not a currency.

You cannot build a monetary policy on a coin flip. Miners need to price electricity against expected return. If the reward is RNG then your hashrate is gambling, your difficulty adjustment is noise, and nobody can run a business on it. Satoshi wrote a schedule for a reason.

Unserious. Locking my wallet and going to bed.

relax, there's no monetary policy to argue about. there's no code. it's an empty folder with a good name.

bookmarked anyway. see you all in a week when OP abandons it like the other 40 coins launched this month.

There is no spec, so I guessed. The description is one sentence and honestly one sentence is enough to implement it:

reward = random(). That's the protocol. One click, one block, random payout, zero difficulty. Try it.

Mine 20 of them and you'll see the problem, and also the appeal. Two blocks in a row can differ by five orders of magnitude. It is completely unusable as money and completely impossible to stop clicking.

Sorry to bump a dead thread but you all need to see this.

OP never came back. The repo is still empty. But billym2k just launched a different coin today. It has a dog on it. Everyone is laughing at it.

Now go read the block reward code.

He shipped RANDOMCOIN. He just didn't call it RANDOMCOIN. He put a dog on it, wrote the code in about two hours, and slipped the entire thesis of this empty repository in as the reward function.

Random number of coins as a reward. It's right there. It's the whole thing.

such thesis   very ship
wow   many random

someone posted this on the other site. saving it here before the thread 404s.

Update for the archaeologists in this thread.

As of block 145,000 the random reward is gone. Dogecoin block rewards are fixed from here on. The stated reason was pool gaming — when the payout is random, people stop mining for a currency and start mining for a jackpot, which is exactly what #2 said in this thread on day two.

So the thesis survived roughly four months in production, under a different name, on a coin that was never supposed to be serious. Then it was removed for being too fun to be money.

The repo that proposed it, meanwhile, is still empty. It has now outlived the idea it described.

Thirteen years after this thread went quiet, somebody did the obvious thing and minted the coin that was never written.

Here is the part that makes it worth bumping. The token's site field points at github.com/billym2k, and creator fees route to that GitHub account. He has claimed them.

So the repository with zero commits, zero files and zero forks — the idea he wrote one sentence about and then walked away from — is now the only repo on earth that pays its owner for not shipping.

Ticker RND. Fair launch, no presale, no team allocation, because there is nothing to allocate — the entire product shipped in 2013 as a sentence.

OP here. I made this thread the night the repo appeared because I thought I was watching a scam, or a joke, or nothing at all.

It was nothing at all. That was the point. Every coin announced on this board in August 2013 had a whitepaper, a premine, a roadmap and a Bitcointalk ANN post with a logo someone paid ten dollars for. All of them are gone.

The one that survived was a description field with no code under it, because the idea was good enough to get shipped inside something else.

Still zero commits. Go look for yourself — that link has not changed in 4,733 days.