Quote from: coblee on October 26, 2011, 09:36:56 AM

I see. So the plan is to permanently reduce generation from 32 to 5. Doesn't this unfairly benefit early adopters? I thought one of SolidCoin's goals was to be fair to everyone. Also, can you explain the benefit of this change? If we ignore the fact that early generated coins will now be worth more, changing number of solidcoins generated in each block from 32 to 5 is in the end basically just moving the decimal point. What's the rationale behind this?

The rationale, in a nutshell, is that on the current base generation number of 32 there are too many coins being generated too quickly. We underestimated the number of miners there would be in the initial phase of SolidCoin 2.0 and now are in the position where the market is flooded with coins which are being mined for nearly zero cost and for which there are not enough buyers.

SolidCoin aims to achieve a value where 1SLC = $1-2. Even with all the stuff we have planned, this is never going to happen with the current generation rates, so action needs to be taken. Cutting the generation rate increases the cost to produce a SolidCoin and restricts the number of new coins being created.

With regard to being "fair", all I can say to you is that this has been announced in advance with plenty of warning. Everyone still has a chance to become an early adopter right now, and in fact it's much cheaper to become an early adopter now than it has been in the past.

Mining difficulty is relatively low right now and we're chucking out high value blocks like there's no tomorrow. The price of SolidCoin on the exchanges is also extremely low, much lower than it was when the chain was shut down a few weeks ago, so there has never been a better time to become an early adopter, either by mining yourself or buying up huge numbers of cheap coins - take your pick. I can't really see how we could make it any more "fair".