Quote from: MsCollec on December 17, 2013, 03:46:27 AM

What's your time line for launch

I'm not a programmer, so I cannot develop or launch it. It's a concept that someone else could develop if they liked.

Quote from: Jhonka86 on December 17, 2013, 03:54:40 AM

Interesting proposal, but I recommend having the years be calculated as integers (or perhaps half-years). Floating rewards based as a function of difficulty _and_ day-to-day age combines to a very random mining scheme that would greatly favor pool-hopping.

The mining proposal method may also be seen as an inflationary coin until years in the future; as more people mine the coin, difficulty increases, pumping out even more coins. This could cause a massive inflationary spiral for the first year or two. Maybe it would be better to base "coin age" not from years of first block, but from number of blocks generated. This would be pretty easy to back-calculate into years, based on the 1 minute per block target.

What matters regarding difficulty of mining a single coin isn't just difficulty. It's the number of coins per block / difficulty, where with a lower value it's harder to mine one coin. If years are calculated as integers, then you will see sudden drops in cpb/difficulty, increasing the amount of work required to mine 1 coin by a factor of root2 instantaenously.

Although the difficulty itself will be erratic, the ratio cpb/difficulty will decrease at a steady rate of about 0.095% per day with the current equation and this will apply for every single day from now until the end of the universe. No sudden jumps, no random mining scheme.

It will initially be an inflationary coin, but I believe there is a limit on how long it could remain inflationary based upon this. In order to maintain a consistent mining rate, it would require that approx every 5 years you replace hardware. The costs assassinated with replacing hardware put a limit on how much could be mined. If the coin has low value, then when it's time to replace, less hardware will be replaced, mining rate will decline and the price of the coin will go up. Remember: Inflation at low levels isn't inherently bad, and bitcoin itself experienced long-term periods of inflation during it's early years.

Using numbers of blocks generated would be an effective alternate way to determine how many years it has been since the first block, were it not for one caveat. So far bitcoin and most altcoins have had the hashing rate growing for several years consecutively almost without stopping. This means that blocks are actually being mined at a faster rate than the algorithm is tuned for. I am sure you are familiar with this https://en.bitcoin.it/w/images/en/e/e3/Total_bitcoins_over_time_graph.png but this is entirely dependant upon 1 block per 10 mins, otherwise the dates change.

This is not a big issue for bitcoin, but if you are trying to use # blocks mined to calculate a precise length of time since block #1, then it does become a problem.