Quote from: blueangel01 on February 20, 2014, 06:26:50 AM

Quote from: ibitcoiner on February 20, 2014, 06:06:22 AM

I see two cons of this coin:

1- So, I saw the payout is linear with difficulty. Current payout is 109 per block and difficulty is around 10.
So, even if difficulty goes to 1000 which I think takes more than 2 months, the payout will go to around 10,000 which is still very low considering the 250B coins. This will disappoint miners and they will move away and therefore difficulty will stuck and so will payout.

2- Since the payout increases with difficulty, people on exchange sites do not have enough motivation to buy and hold coins because they scare the price will drop because of incoming more coins. I can say the price will be reduced over time rather than increase.

Dev, could you comment on these ?

1 - The supply will meet the demand of the miners. Therefore, the price will not need to compensate, less volatility. 250 B coins is just a number. They plan to change it.

2 - You can say that SYN is equivalent to the amount of electricity used. This coin is much closer to dollar than any other speculative coin. Cryptocurrency was made to become a medium of an exchange of trades and services, rather than speculative investments. I think it is unfair to mine 1 SYN a day just because a lot of people are mining it. You get more coins based on the electricity and machines you have.

In my opinion, it is unique and close to dollar. Dollar depreciates in value every year but people still holds it. It did not scare you when you got your 1st pay check, did it?

for (1) I think it is better to change to to less value. or they can change the linear formula to much complex formula to calculate payout from difficulty. something that does not have linear relation with difficulty. may be a 1.5 power relation.

for (2) it is true that $ depreciates over time, and its why people do NOT hold it and convert to property, stock, crypto, gold, and etc. So, I believe people will not hold Syn and spend it very soon and that creates a rush to sell SYN over time.