Quote from: wisscot on May 07, 2013, 12:44:20 AM

Are you tired of so many new and pump&dump coins? Once a new coin comes out, people jumped in and then flee away when the difficulty increases. The author and the people mining in the first couple of hours or days gained huge profit which is not fair to others. Thats the problem for every kind of coin so far.

Here I would like to propose a new coin FairCoin without the huge early adoption advantage. The basic idea is that:
1.   Base on Scrypt. (Maybe another one for SHA1 later)
2.   Coin rewards are proportional to difficulty. A 1000khash/s machine will generate 1 FairCoin/day approximately, no matter when you join.
3.   The reward/difficulty decreases linearly to fit the Moore's law. After 18 month, the ratio of reward/difficulty will be halved.
   So, the annual FairCoin production rate would be almost constant.
4.   Annual coin production rate: 18 millioin
   (estimated at 50Ghash/s network hashrate right now)
5.   Maximum coins available: 2 billion FairCoins
6.   Years to mine all the FairCoins: about 111 years.
7.   Retarget difficulty time: 1 day
8.   Block generation time: 1 minute

So what do you think? It is fair for most people to me. No one even the developer can take advantage of that. Leave me a comment. Any input is appreciated.

sounds good and i like the name, was thinking one would come out called faircoin since there has been so much hate on the instamining.