Post
Topic
Board Announcements (Altcoins)
Re: IOTA
by
smooth
on 28/10/2015, 22:49:43 UTC
This a serious dilemma. I have thought about it a lot. Has anyone else devised a better solution?

We know that mining can't be used here because CfB has stated that it undermines the security model.

If the idea is bootstrapping the distribution and not raising money, then spin off from an existing coin, preferably a widely used one. Multiple coins are even okay but make sure the weighting bears some sane relationship with fair market value (does not have to be exact).

If the idea is raising money while unambiguously complying with all the (perhaps mutually contradictory) laws in the world while at the same time using a structure that achieves a widespread distribution in practice, and is verifiably resistant to cheating, well good luck. I don't know how to do that either.