Post
Topic
Board Announcements (Altcoins)
Re: [ANN][CLAM] CLAMs, Proof-Of-Chain, Proof-Of-Working-Stake, a.k.a. "Clamcoin"
by
thefix
on 02/12/2015, 02:38:30 UTC
I do agree with the sentiment that some have expressed that We Survived the Great Digging Panic of 2015 and with the right response that can make the coin stronger and more resilient. But then you still have some people approaching it more from a FUD perspective ("Okay, but what about the next whale digger?! zOMG!!"), sadly.

Why do you call that "FUD"? 94.5% of the initial distribution is still unclaimed. Are you arguing with that number, or you think it doesn't matter that this massive inflation we've just seen could happen again repeatedly in the future?

Of course I'm not arguing with the number, it is clearly correct. I'm suggesting that the context is very colored by not only the recent dig (which wasn't really out of line with previous "big digs") but by the panic it created.

There was no new information to come out of this latest experience, except the reaction of the community to it. Has the total supply changed? Did anyone doubt there were people out there with many addresses? Has the fundamental truth that the more coins are dug the fewer there are left to dig changed in any way? (BTW, the same can be said about "big digs" -- the more happen, the fewer can ever happen in the future.)

Quote
Before this whale digger appeared, around 72k old addresses had been dug up. That's 2.2% of the initial distribution.

Now that the whale digger has apparently finished, around 178k old addresses have been dug up. That's 5.5% of the initial distribution.

These numbers are misleading because of staking. The latest dig was only 60% of the active supply, not 150% of it. Future digs will be even smaller relative to active supply, both because more digging has already occurred but because staking will continue to dilute undug coins.


Its not possible to know future diggs will be smaller relative to the active supply unless someone knows something the rest of us do not.