Quote from: goin2mars on April 04, 2014, 04:42:56 AM

Quote from: nzminer on April 04, 2014, 04:29:28 AM

Thats why POW coins are not sustainable.
NXT has a real future once the jolly things get distributed, since no expensive mining farms are required.
There is not enough room for all these altcoins, there is only enough room for 5 or 6 coins max i reckon.
Most of these coins will be dead in 12 months, the hard thing is trying to predict what ones will be successfull.
I do see some future in darkcoin, so im mining some, but i think its going to be easier to pump and dump other altcoins into darkcoin, since its difficulty is so high, i wished i mined this at the start, i could have got 400 coins a day!

But that always seemed like a cop-out to me . . in that all I can think that was said when it was started was: "Well we can't figure out how to make it decentralized so we'll just start at the end and move toward the middle."

I respect the effort as a whole and hope it finds true growth, but it's basically like someone telling me: "I am rich now because I made a stake a long time before you did, and you should do so now so that you can spread the word." Just doesn't sit right with me.

Just because PoW coins are susceptible to the same centralization that NXT started with doesn't mean at all that it's not sustainable. It just means that nobody's came up with a way to slow the process to a complete crawl yet. I'm not ready to say, and probably never will be ready to say, that we should just abandon a PoW concept.

I would like to see a POW concept that could limit the maximum amount of coins any one miner could get per day, no matter what hashpower they throw at it, of course that would be hard to implement, but i would like to see a coin where the reward and difficulty stays constant, but not have a ridiculously high reward to start with, ie with some coins we still have miners who have millions of coins from the start, but down the track, the late miners get just a few coins per day.

I think the idea behind stability shares tried to address this.

And with bitcoin, i highly doubt its going to be worth mining soon, even with the newest ASICS, the power costs probably cost more than the coins earned with the price of bitcoin halving.