I don't want another Blackcoin clone...jesus, can't we be original?
"If only we market like doge," "if only we PoS/multipool for nyan," "maybe we should have an alt to nyan exchange."
That said. x11 is best. With no mining comes no interest, especially if I have to hold huge amounts for long periods in an untouchable wallet (like some PoS) to make any more nyan.
Also, why x11 and even distribution? Can't we get a block halving much sooner? Say block 133700?
We don't have the hash to sustain block halving. If we decrease supply with POW, anybody who feels like it can come by and do a 51% attack on us at the current market cap.
If we were a bigger coin, sure I'd agree that we can change the supply and use X11. However, we don't have that luxury. If you want to change supply, we use POS. If not, then X11 is fine. Though, if we don't change supply, I see nothing that will really turn the current trend around...
Edit: Also, I'm all for original ideas. Do you have any?
Also also, make block confirmation take 6-12 hours!
Wait what? Care to elaborate on how this helps the coin?
Why can we not reduce block rewards with X11? Seriously? I don't get it in the slightest why we don't have "the luxury" to do so. What does hashrate even have to do with the reward? Nothing I'm pretty certain.
The only reason our hashrate sucks is because there is nothing to spend nyan on and the certain future, no promotional campaign, little dev activity, and no public knowledge the nyancat dev actually cares for the coin and wants it to succeed. It seemed like heels were being dragged until just now.
PoS suffers from timestamp exploits more-so than PoW as well. It would not be hard too corrupt.
Increasing block maturity to such levels effectively eliminates "profitability miners" from the picture. No miner who cares about nyan needs his coins sooner.
The whole idea of a coin is as a currency...did you forget? Changing block confirmations to 6-12 hours makes it impossible to use NYAN to buy anything...What if you wanted to buy a coffee but it took 6 hours just to confirm your credit card? That long of a block time defeats the whole point of crypto.
That aside, the reason we can't afford to lower block rewards with X11 is because however much we lower it is however much less miners we will have. Lets say block rewards become 10% of what they are now. Then we will have ~10 Mh/s as our network hashrate. Well guess what? I myself have roughly 9 Mh/s under my control. I would then be able to go in and kill the coin with a 51% whenever I wanted to. Is that a vulnerability you want the coin to have?
POS will not suffer this problem since anybody can just open up their wallet and leave it open. Therefore, many more people will be able to hold NYAN and protect the network. It also costs very little from an electricity point of view to do so. Miners have obligations to meet, they won't stick around in our network providing hashes to protect us just for fun.