Quote from: jdun on May 02, 2014, 09:50:38 PM

Quote from: jjgallow on April 24, 2014, 09:32:48 AM

5. Pump and Dump Protection:

   Wallet Addresses which show a 50% or greater loss of coins (ie., a dump) will experience a greater difficulty level when mining.

   Wallet Addresses which show an accumulation of coins (good for the community) will experience a lesser difficulty level.

   I am still WORKING on a contract implementation which allows users to lock their coins in long term (and possibly convert to leaps). If implemented on launch, this will also strongly decrease mining difficulty.

I appreciate your attempt to prevent PnD, but practically speaking, once I had collected a sufficient quantity that I was ready to sell, then I might also be ready to stop mining, and thus I wouldn't care about "increased difficulty" that would come with dumping. Just a thought.

It's a really valid concern. I've put a lot of thought into it, with regards to contract and derivative solutions. I am still thinking about it.

The method does not prevent dumping the coin. It Does mean, however, that miners who have a long term investment interest in the coin will also have a long-term competitive advantage in mining it.

It means that miners with a long-term interest in the coin should be able to gain a greater market share of the coin.

It means that miners with strictly short-term goals will be almost completely cut out of the market for this coin, and ultimately have little interest in it.

I could take the concept further, because you are right that it is not 100% pump and dump prevention. I am just not sure if I should. My feelling is that this measure is adequate at the stage for the coin. For a mature coin like bitcoin, on the other hand, contracts and derivatives are needed. I would almost rather let others iron this out, and fork it in a few years from now when it's necessary, perfected, and secure.