Re: PRE [ANN] CureCoin-Fold Proteins, Cure Cancer, Make Money! NOV 16 GPU+CPU+ASIC
The dev funds are going largely towards community things, such as folding hardware giveaways, 0%-fee pools, etc. Yes, it is a coin developed around being sustainable, part of that is having a dev fund which allows the developers to spend large amounts of time on the project, as well as of course being able to further the project by providing a multitude of things for the community. Gridcoin did certainly try to innovate something, however the way they approach is is quite short-sighted. A minor client mod allows the person to not need to do any scientific computation at all and still gets 150 coins per block. We don't want to talk crap about it, but it has a pretty large inherent flaw: users don't need to do any scientific computation. GridCoin also doesn't (currently) take into count GPU usage, which is the major general computing workhourse of today.
At the end of the day, if adopted, CureCoin will cause some pretty massive folding computation, and while doing so will create a coin backed by ASIC mining. It's not a perfect system, and neither is Bitcoin. The dev fund, sure, will in some shape pay developers, but its purpose is to make the coin a sustainable project with a strong community foothold.
In regards to the dev fund, 10% of any coin is a massive amount. We have to trust that you'll do the right thing with it and nothing stops you from taking all the coins from the folding pool and spending those. We all just have to trust you. Not saying that's what you will do but the coin itself doesn't actually provide anything. If we're speaking about flaws, I would say thats a much larger flaw as we're in a community were scams run rampant. This coin uses as many buzzwords as it can to try and have success like XPM had, but the coin itself doesn't actually do anything. If the dev coin devs wanted to support folding there's nothing stopping them from doing the exact same thing as curecoin. In the gridcoin system, even if what you say is right and they can mod the client to lie about mining bionic, 100% of the coins still go to the person who mined it. This coin leaves question marks.