Quote from: no-ice-please on March 31, 2016, 05:00:33 PM

Quote from: XPB on January 01, 2015, 04:16:11 AM

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2) Distribution of coins (active)

It is very common in the launch of a new cryptocurrency the distribution algorithm heavily is weighted towards the very early adopters. Such distribution is designed to give a massive advantage to people who are fully prepared to mine at launch, with a very large difference shortly after sometimes a few days later. If the point of mining is to both secure the network and fairly distribute coins a gradual build up of rewards makes more sense, with no drop off in mining rewards. At a standard block reward of 300, at launch each block will reward 0.3 coins leading up to 3, 30, and finally the standard reward of 300 which will be the standard unchanging reward from that point. It will take approximately 3 weeks for the block reward of 300 to be reached.

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It looks (to me, at least) like the coin was doing exactly what you say you were guarding against.

Were all the coins, except pos, issued within a few months of launch, when there was little publicity? If so, approximately how many miners got what percentage of coins each? In other words did some people start right off with a huge amount of the coin?

I know pos has advantages, but I am specifically asking about initial distribution. A lot of coins are heavily accumulated by instaminers and speculators.

You claim to have protected against the instamine distribution problem? But was there ever a point in Pebblecoin's history when coins were distributed mostly to people who were not the initial miners?

Instamine was prevented like the quote - rewards gradually increased over a good period at the start, coins were not flying off the shelf right away, like with some other coins.

When we switched to dpos there was already a liquid market on poloniex, which is still active and quite cheap. Early adopters can get coins there very cheaply right now. Is it good that on Bitcoin there is still mining? All it does is burn electricity at the cost of inflating the currency. Only most competitive miners who have lot of money to spend on ASIC can even get an entry. Instead of buying watts and wasting electricity to inflate currency more, you can buy the coin on the liquid exchange. About same cost, same reward for early adopter (if price goes up then you rewarded for buying it cheaper now).