Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [COINO] The Coin(O) Community Discussion thread
by
dr00g
on 25/05/2014, 19:01:46 UTC
Here is my view on algorithm and ASIC:

I think SoreGums has a valid point about ASIC hardware will get cheaper.
As of now ASIC hardware has a very limited market for miners, and therefore I am worried about that a few people will be mining most of the coins and make a very high difficulty, which is unfair for the other miners.
If at some point ASIC has gone really mainstream and is super cheap and easy to use for not so techy people, then it would make sense to use an ASIC friendly algorithm, as it would be fair for everyone.

Due to my concerns I think the best option is to change to an algorithm which is currently ASIC resistant.

My own intentions are to vote for features which will make the coin available and mining friendly for everyone, in a fair way.
The lesser the bother, the more people will want to actually bother at all.
When I talk to people about crypto, they ask "well, why should I bother about crypto/mining", because they need a reason to actually mine/wanting the coins, and even if there is a good reason, not everyone will want to do a lot of research about how to start mining.

Therefore I think Coino should be a friendly coin to get a broad audience. As you will need a GPU, gamers will be the first adopters, and what they invest into mining will also be useable for gaming, so even if they loose interest their gear is still useable or should be fairly easy to sell to either other miners or gamers.

I personally like x11, as it greatly helps with some of the issues that scares people off:
- It's much more energy efficient, which means a lower electricity bill
- Due to being more energy efficient, the hardware will get far less hot, which means lesser fan noise
- ASIC resistant, which means those who has a newer GPU can mine fairly


Regarding block halving, I would like to hear people opinion on why exactly they want it, before I can take a proper stand.