Don't get to hung up on the ASIC part of my message. I was simply showing that ASIC devices could be used right now without any special new devices since one of the hash functions plays right into current SHA-256 devices which are already on the market. The coin was sold as "CPU" only at launch but 1/4 of the algorithm was ASIC minable from day one.
I have other issues not mentioned in the previous post such as: The coin was sold as using Kimoto Gravity Well but this was also quickly replaced by Temporal Retargeting which is a "home-brew" different way of adjusting difficulty on the fly. It's untested to the best of my knowledge except in use by this coin for less than a month and may have many exploits that could be used against it. KGW is outdated. Why was it chosen to begin with (another bad example of dev architecture)? Why did the devs come up with a new way that hasn't been through a test phase to make sure it's exploit free. DigiShield would have been a much better solution. Anyone want to make any wagers how the block chain would stand up to an attack that could put on it?
With the changes made to the architecture, has this coin been vetted against attacks like the KGW exploit or many others? Is there any documentation of said testing? IMHO, you can't just arbitrary change things without a solid testing and proof of concept.
However putting all the technical stuff out of mind:
The bigger problem I see is that once out of limit phase which is 56 days, there is no reason left to mine this coin as the diff level is "beyond" through the roof. The coin itself is dead at that point unless something monumental happens between now and that time to make it super valuable.
It makes no difference if this coin runs cooler on my GPUs during summer because it will be all but dead before summer. See what I'm getting at?
This coin would probably have to somehow become 100 or more realistically 1000 times more valuable then it is now by that time to have any value in holding or having it. My issue is that the coin is only minable for about 4 months from it's inception, give or take and then it's done/over/dead. It has no life time of mining. It's basically a mint/limit phase and dead coin. I hate to say it but it's just another "scam" coin without a chance, worse than most actually. I really hate to use that 4 letter word because I don't think that was the intention, but ends up having the same affect as other "scam" alt coins because the timelines and concepts weren't thought out very well.
Try playing around with the numbers on paper or in a spreadsheet. Set it up and use a vote of 1, a vote of 1024 or anything in between. You'll see it makes no real difference at all. Once out of limit phase the diff value is so high no one will mine it. The only way at that point for this coin to work is that is has to by some miracle become so valuable it can survive on it's own as a valuable commodity. But how can it? It's pre-mined at a much higher rate then any literature published would suggest (higher in overall affect then just about every other alt coin with a pre-mine). It was flawed from inception in what it had that was unique (but flawed in implementation). It had/uses a flawed algorithm approach that was partially ASIC usable from day one and surely wasn't CPU only as pitched from the beginning.
Realistically, what does this coin have going for it other than community? Even this is slowly dropping. IRC is all but dead. Not really many new people here in the forum. Hash rates not really climbing, etc. This isn't really that important in the scheme of things as I don't think even a vibrant community can overcome the difficulties I've pointed out about this coin at present.
From an analyst standpoint it can't be vetted as a good buy, short or long term.
Show me how this isn't the case?!?!?
Am I wrong on anything I've said that has any substance?
Carlo