Quote from: AltDeleter on March 27, 2014, 08:54:21 PM

Quote from: sixteendigits on March 27, 2014, 08:45:11 AM

Another thought I was having. Obviously the details of how this whole system is gonna work are still up in the air a bit, but I would be careful about overly-automating the whole process of buying alts/dumping alts/buying DEL/deleting DEL. This system needs to have some unpredictability and randomness to it or it will never work and will be abused by traders.

Here is what I mean.

Say I am some poor schmuck stuck with loads of Shitcoin #112. Now, I do a bit of math based on the exchange rates for DEL you posted and all of a sudden I realize, hey, if I just swap my bag of Shitcoin #112 with the DEL devs, the DEL I get will trade for twice the BTC I would get if I just dumped Shitcoin #112 on the exchange! Well, I might as well just dump this DEL, keep half the BTC, and since I know how much of Shitcoin #112 I just sold you, I can take my profits and put in some low orders and get my bag of Shitcoin #112 back again when they dump it. Then I'll trade my reacquired bag of Shitcoin #112 for DEL...................................I think you know where I am going with this.

As hard as trust is to come by in this world, for this project to succeed the community needs to trust the development team here a bit and let certain things be unknowns. What if it was revealed that the DEL devs held 25% of Shitcoin #112? Well it would certainly hold the price of that coin down momentarily, but all you will have is traders jockeying to get really low buy orders in to scoop those coins back up crazy cheap for the inevitable dump by DEL devs.

Even worse would be if dump alt day and buy DEL day had some sort of pattern or happened on the same day of the week. On dump day, all the traders are slipping in really low buy orders. On buy DEL day, all of the a sudden all the low DEL sell orders are cancelled. Then, all the traders are just selling you back the same coins every week!

I am sure many other situations can be imagined. If the rate of trade between shitcoins/DEL is 100% predictable and calculable, if the DEL team is 100% open about what coins they are currently holding and in what quantity, and if the dumps/buy ups happen with any sort of regularity or predictability, you aren't helping to destroy shitcoins. You are creating a wealth of information that any trader worth their salt will exploit to the fullest.

My opinion is some randomness and unpredictable needs to be introduced here. The calculations included in the ANN on exchanging your alts for DEL, well maybe fine as a base, cannot be that predictable. Perhaps some way to randomize the reward for exchanging your alts. You might get 100% of the DEL you are owed based on those calculations, but that is just the average. Based on some sort of random factor, you may only get 33% of that figure, or 75%, or 140%, or 300%. Can't be sure.

And while I think the amount of DEL distributed through trading for unwanted alts should be revealed for all to see, I don't think anyone but the DEL devs should know what coins they are holding.

Dumps and buys entirely random. Maybe 3-4 dumps one week, 0 the next, 2 the next. Same patterns with the buys, random and unpredictable.

We thought about this also, it is not going to be an immediate thing which should combat people doing anything like this. We will build a quantity large enough to crash the alt an no one except my team and our partner exchange will know when, how much, and how frequent.

Awesome, glad you guys are way ahead of me and thinking of these possibilities as well.