Post
Topic
Board Announcements (Altcoins)
Re: [ANN][CLAM] CLAMs, Proof-Of-Chain, Proof-Of-Working-Stake, a.k.a. "Clamcoin"
by
bytemycoin
on 13/12/2015, 19:25:30 UTC
At some point, the coin's market cap becomes large enough to absorb the (theoretical) big digs without much damage. It could be rough in the early days, but if the fundamentals are good, things will be fine long term.
The digs are only part of the problem. The potential for the digs also weighs on the coin. The digs add supply which dilutes the value of individual holders (which is fine to a degree, though too quickly causes instability and turns off backers). The potential for big digs will only go away if all the coins are dug, which most of us agree will never happen. But that risk is there and nobody has a plan for it except wait for the supply to balloon enough to devalue the undug supply.

I think you are correct.

We should blacklist Satoshi's coin's - they represent too much risk.

/sarcasm



Sorry for the tongue-in-cheek sarcasm; but, I think the similarity bears mentioning.
There is a silver lining: at least our 'risk', as others have pointed out, reduces over time and represents the potential for growth via new users.

You say new users so glibly. Which new users exactly? All of the new users in Crypto see clams as an unfair distribution these days. a distribution that only benefits the old timers that have been part of the crypto community.  It seems that Clam digging is a promise to the elite that held crypto at some past point in time. Also a promise to them that they can sit back and make money on the backs of those who have supported the Clam community. If they cared about clams they would have dug a long time ago.  Also a windfall promise for those who created any type of "possible" fractional reserve systems with the 3 best known coins.  

So it basically says: if one created a fractional reserve system, as an old time elite and held a lot of keys for users to send them coins while they simply showed DB digits then you can get rewarded big as clams climb. Granted, not all of these systems have been unfair however, with crypto's sorted history a large number of them have been and dozens if not hundreds of examples can be easily given. It is not just the mintpals and MTgox of the world, it is smaller less knows scam sites all over the globe.

This is who Clam's promise is to. How does this distribution make any sense anymore?  Does it not go against the basic premiss of crypto in general.  Is it not a promise similar to what the Federal Reserve does for today's already established elite institutions? That they can simply print money if they are in the proper pre-established position. Alienating the new comers with a blatantly public unfair policy (Do we hide this by simply changing the name and calling it a "promise"?).  It was a good experiment which I am sure had positive intentions but from an outside perspective it is looking a lot like everything that is wrong with the present fiat system. This should start to become apparent to everyone.