Post
Topic
Board Announcements (Altcoins)
Re: [ANN][RIC] Riecoin, new prime numbers POW coin, launches Feb 11, 2014
by
CryptoBeggar
on 21/02/2014, 14:48:40 UTC
Just a thought from my behalf:

This coin should probably relaunch in a more favorable conditions. Currently, we almost have no updates, and the price is dumped so low it is risky to involve too much of a free time to get a better insight in how this algorithm works and in what way we could improve it for the community.

Another thing I didn't like about this coin was the dedicated miner which appeared along with the wallet, without any clear documentation or at least performance comparison. With ambitiously long block time, this leads to a lot of miners giving up as they are finding no blocks at all and again have no chance or time to analyze the coding provided.

The market of RIE clearly shows the biggest miners are getting a lot of this coin and at almost no cost, which is a clear indication of botnets riding on the wave of initial hype coming with this new POW.

The concept of the coin definitely is promising and I appreciate some of you are trying to build a community, but maybe we should think of relaunching the coin. If we are aiming at the increasingly high results, this algorithm might be changed to have ever increasing block time to some soft limit (say 10 minutes). That might enable finding relatively fast blocks at the beginning, attracting more interested miners, and as the time passes, aiming for the real records.

Yours, CB