Quote from: greenuser on August 05, 2016, 11:55:35 AM

Quote from: MalReynolds on August 05, 2016, 11:48:56 AM

Interesting ETC articles in TheMerkle:

http://themerkle.com/will-coinbase-have-enough-of-an-etc-supply-to-honor-its-promise/

http://themerkle.com/casper-may-cause-centralized-staking-by-rich-ethereum-holders/

The upcoming ETH switch to Casper is a key decision point for ETC. I personally ETC should not follow ETH into becoming a Proof of Stake coin. If general agreement for this point could be reached now, it would be a powerful inducement for miners to switch from ETH to ETC now.

Thanks, i will give it a lookin. However Me too...... Cheesy

I would like to open a debate over PoW vs PoS and FORKS

The difficulty miners experience will increase dramatically very soon in our current (PoW), we need to sort that. This can only be done via a fork so we need to ALL be in agreement unless you want a Splinter Classic chain as well as a Classic chain.

I asked Charles if we could soft fork to fix it. ---

Charles: "It can only be defused by a hard fork. It requires changing rules in the protocol that current nodes would reject."

greenuser: I have often wondered what would happen if it was just very very difficult to mine? Would it not become more scarce? More valuable?

Charles: "That would destroy any PoW algorithm based blockchain. Mining difficulty is continually adjusted to allow the network to be secure and allow blocks to be solved within a targeted time frame. Setting the difficulty arbitrarily high, would discourage miners from mining because it would make blocks harder to solve, and therefore they would generate less rewards for a greater expenditure of computational work. You would have to increase the market value of that coin exponentially to compensate, and that is impossible."

Please post your feelings....

PoW vs PoS. Currently miners mine the transactions and receive a block reward, Yes? If you have no miners, who will process the transactions? If the transactions are processed by nodes/validators and they receive a % of transaction fee... that would work too. However: ethereum wanted PoS with only 250 validators and you would have to pay to be a validator, that is feudalism in my eyes.
If you had a PoS/PoW hybrid you could satisfy both parties.
I would want to see more than 250 validators. What about a wallet where you could stake some of your ETC. Every wallet would have the facility so anyone could hold a stake. Dividends could be paid out from the transaction fees depending on your stake & amount of node %uptime.
You could mine to your wallet and stake a percentage of your choosing and get paid a dividend on that stake.

I plan to put this to Charles, what do people think?

I would like to thank everyone for posting so much good info and links. I agree with the comment about needing to hire a marketing guru if that hasn't already been discussed and done. Putting a public face and public point of contact for everything ETC would be a good idea.

A council with some sort of leadership structure would be very useful at this point. But like mentioned in one of the videos we need a voting mechanism that allows holders of ETC to have a vote. That however may be a longer term objective since that would require a lot of coding I assume to come up with something.

I agree we should start talking about what we want to do with the POW/POS situation. It won't be long and it will not be profitable to mine so this conversation needs to happen sooner rather than later. I liked the suggestion on a hybrid POW/POS type of rewards system. I know there are some other hybrid coins out there that we might be able to learn from, but I do think that seems the most fair, but I would think you would still want to put more emphasis or weighting the rewards on POW over the POS staking to ensure that people and not monied interests control the outcome and the vast majority of the rewards.

Even some interesting proof of capacity POC types of coins like SIA, and Burst etc where again you have miners/minters etc that are providing some sort of work/service/capacity on the network. So there are different ways to diversify the rewards mechanisms. Just a thought and maybe something that can be added into the mix.

I do agree that removing the Diff Bomb needs to be addressed very soon.