Post
Topic
Board Announcements (Altcoins)
Re: [ANN][CLAM] CLAMs, Proof-Of-Chain, Proof-Of-Working-Stake, a.k.a. "Clamcoin"
by
P-Funk
on 18/10/2015, 18:11:50 UTC
Given:

-that the large digger is bleeding buy support dry and dropping the market price more and more, and will continue to do so at a steady pace using a script for possibly a year at current pace
-JD, its owner and community of investors and gamblers (plus a few other gambling sites) are supermajority stakeholders in the Clam network, and care about the value of Clams

it's rational to want to do something about the situation. To remove digging altogether would remove Clams' best and unique feature, so it is not a reasonable option. As Bitcoin and most other cryptocurrencies have built-in reductions in their distribution methods, I believe it is reasonable to propose reducing dig rewards to half at (about) 1.5 years from the release of Clams, and continue to halve the dig reward every 1.5 years from now on. I'm not a programmer, but I imagine reducing the dig reward could be done by imposing a 50% (and later 75% and so on) fee on transactions from the original distribution outputs that gets paid to a burn address. Assuming the software is ready to go, this can be announced a month or so ahead of the fork to make things fair for everyone, including the large digger.

 The counter-argument to this is that changing the network rules now would somehow violate the sanctity of the network. That opinion, in my own opinion, is unnecessary fundamentalism. Software and cryptocurrency networks can evolve, and I believe the supermajority of Clam stakeholders do not share that fundamentalist position.