Re: [AXIOM] AxiomMemHash, Schnorr Sigs, 8/3 Status Update, AxiomPOS 3.0, AXH 2.0
Good points. And deductions. In the bigger picture though, even if you are right -and you could very well be- it could be beneficial for the project IF )again those pesky big IFs) the developers (I have been informed it's a team of three) really do believe in this project. That would mean they don't want to sell immediately and run away to the next project. They have already something very, very nice HERE. So that big amount of coins, and growing, would theoretically be in the best hands possible for they would use to dedicate themselves entirely or mainly to the coin, while slowly selling what they stake, and work as hard as they can to bring value to the project all along. Again, the conditional being the key thing, all of that could very well be positive... the alternative to that being P&D groups that would inevitably leave the believers with big bags and the project destroyed.
Key point is that IF (again!) we give the dev team the benefit of the doubt, and IF (again!) the project is legitimate, everyone can benefit: These three months will double the amount of coins to anyone staking with something like 25k coins, which is not a lot of money, a couple BTC or so. That's 100% right there with probably another 100% in the next "rich" phase immediately after the 5 coins-block one is surpassed. Still, the whole enchilada remains: Around 10 million max coins ever in circulation. It is a well calculated risk, well worth the potential failure in my opinion.
Now, while the devs do their jobs, hopefully in a hurry -but well, not like the launch-, and get that website on, that whitepaper out and that timeline posted, it is time for the believers and even the traders, to do their part and find answers to the long term questions: What is the real life use cases that can be brought to AXIOM? There are many potentially. I for one have one that could be very nice up my sleeve, I just need a bit more confidence in the dev team -and cannot have it unless they identify themselves to me-, but there are others waiting to happen. If (biggest IF of them all) the community do its part, this could be explosive and bring a lot, A LOT of nice Christmas presents for those believers.
I wouldn't even care if the developers mined and held 99% of the coin, as long as they were honest about it. It's their coin, they are doing the work, they can do whatever they want. The fact that they are almost certainly holding far more than they are willing to admit though, leads me to believe it is far more likely they are pandering to the investors knowing most people won't invest if the developers are holding what is deemed an inordinate amount of coins. That is a whole other discussion on how we go about ensuring developers are properly rewarded for their work and not being treated as free slave labor for whales to get rich off of. That is a topic for another time though.
Even if the project is legitimate, I don't see what is so special here. So far, its first big feature was CPU mining only but that fell apart after a few days, plus its nothing new. It doesn't even prevent centralization because CPU only coins just become botnet havens with networks controlled primarily by criminals and blackhats spreading malware. Next is the POS 3.0, and it is yet to be seen just how much of an impact it will have. If it is actually a significant improvement over POS 2.0 and fixes major vulnerabilities, existing POS 2.0 coins will simply incorporate the new code. It's not like POS 2.0 came out and killed all original POS coins.
It just comes down to Occam's razor for me. It looks and smells like a PnD, devs are most likely controlling a large amount of coins that they won't admit to, it looks like a rush job, fishy behavior and inconsistent message. It is more likely by a long shot that it is just another PnD and it will be dead by this time next month vs. this being a dedicated team of developers who are ready to support it for the long haul and make it something special. I could be completely wrong about everything and it becomes the greatest coin ever and I stick a 12 gauge shotgun in my mouth when it replaces Bitcoin in a few years. It's not likely though.
