Re: MaryJane the Chill, Sexy & Secure Coin...[ANN|MARYJ]

From what I've gathered this sounds like a really silly idea. First off, one person owning that amount of coins is a threat because it introduces the reliance on trust. Secondly, the coin will get heavily inflated with the increased total suppy alone, not to mention miners dumping the coins slightly above the cost of production via profit-switching multipools without even knowing or caring what coins they mined. And lastly, one person wanting to pull such radical change to the coin might invite a communtiy takeover. The only way I'm seeing this working if the PoW block rewards would be a fraction of what is planned. People would still mine it if they could even at 10 coins per block, just look at FRESH (~10 million total coins with 10 coin/block and people mine it).

First off, Adam is not giving himself 5 million coins, He will tell you himself in the next day or so. Secondly the coin is not going to be heavily inflated as the coins will BE MINED. That means its going to be a gradual process that you wont even notice. In fact I truly believe this will raise the price. And a community take over? LOL Good luck buddy. I know who's who in this community and it'd never happen. Myself and many other key community members fully support Adam. Lastly, it's Adams coin, and truly, if you don't like how he's driving, then sell off and get off. No one's forcing you to spend your bitcoin here.

Edit: Something I may be on board with would be perhaps asking Adam to spread the coin distribution out over a longer period of time, reducing the debatable effect on the coins price. 5 million coins mined over 5 years might make more sense than mined over 2 years. But let's be patient and see what he has planned.

Quote from: MaryJ on March 26, 2015, 03:50:58 AM

Halving 10210 blocks
Initial coins per block1000 coins
Target spacing 1 min

Try to sell 1.440.000 coins per day for a week and tell me the price won't crash. Or you really think roughly 120-160 BTC worth of coins will get soaked just on the first week to keep the price? Even if only 30% of that would get dumped it would crash. Have you looked at the market cap and typical daily volume of this coin?

Who's selling 1,440,000 coins per day? Where did you get that number from? I think your numbers are off because you don't need a calculator to know that 1.4 million coins per day would be impossible

Edit: And yes! I pay very close attention to market cap and trajectory of this coin Cheesy

Despite a few setbacks, this coin isn't going anywhere. The weak hands are being shaken out and it's really not a bad thing to happen.

I'm obviously missing something but there's not much details I could find other than the planned specs so I went with that. And there is no mention of a distribution period of 2 years that I could find.

So now I'm lost because the posted x11 specs doesn't add up anyway you look at it to what you're describing. Whatever the case, what I'm interested in is the public pow specs for the remaining ~5kk coins.

Sorry if my confusion caused even more confusion.

Nothing has been put in ink yet, so don't worry, this is the correct venue to voice concerns. How would you feel if there are 82,000 coins released per week? Does that seem balanced?

That would mean 8.13 coins/block with 1 min spacing which would have no effect on the price. If anything, the fact that it would be mineable again might introduce the coin to more people so it might even increase the price. I'd be completely fine with even higher block rewards, it's just that I completely misunderstood the situation.