Arite everyone, I'm one of the core devs on BitSlap and I want to talk some of our goals and perspectives and also a little about how we've been planning our coin distribution. Disclaimer: if you haven't noticed we're gonna be pretty blunt with what we're about.

So without any fancy graphs and calculations lets look at how pretty much every coin distribution algorithm is structured. You have an (seemingly increasingly) massive decay in rewards, combined with poorly modified variants of KGW that tend to respond to arbitrary step increases in hash-rate with relatively massive difficulty increases. Honestly, I could go on for days about that tragedy... and I will, just not tonight.

Combine this with the crazy amount of coins being released and massive mining operations targeting these for the short time they have a relatively low difficulty and the timeframe for a coin to stay profitable to mine is in the range of literally days to a few months on the high end. So bottom line - devs get out with their pre-mine, big miners get an insanely disproportionate amount of the total distribution, and really everyone else gets fucked.

But really you have no one to blame but yourselves for actually mining, supporting, and even trying to defend these piles of garbage just to see a price rise so you can dump off whatever you were stuck with when you stupidly bought it. Bitcoin is a pretty damn impressive piece of work and 'BitSlap' is a pretty fitting name for what we've done as far as "improving" it.

Unbelievably, we're actually pretty damn good at what we do and given what has been considered the status quo as of late, its time for something new. So we have a lot planned and we're pretty excited to see what we can do here, but the the single most important part of any coins 'release' is going to be how well the distribution is initially structured. So you know what, we're gonna make sure we don't fuck that up.

BitSlap is a 'loose' fork of the original version of DarkCoin, a coin that we do legitimately consider an actual innovator in terms of quality. But after really doing some deep analysis, DarkCoin turns out to be in a lot worse shape than we had thought. So since we're about doing things differently, we've decided to actually go ahead and be honest about our development so that we have a wild chance at maybemaking something decent here.

So with that said, we've decided to rework parts of our coin rewards. We're still hoping to release at launch, but we're not going to force this coin out if its not ready
just cause your rigs all fired up for a quick smash and grab. Too bad you bloodsuckers, go find another coin! So it's pretty late and I think I've given enough of an intro for one night, so I'll leave with an overview of some of our technical specifications and tomorrow we'll show you [with data] what DarkCoin did right, and then how they went
and fucked it all up in a day.

-----
Max Coins: 100 million coins released over a period of 10
Block Target Time: 90s
Reward 'Reduction': Continuous Exponential decay over every block
-> This equates to a reward curve that should taper at much slower rate than DarkCoin resulting in a far less convex decay
-----

Bottom line: doge was like auto-tune - animal coins are dead (but doge's kinda like T-Pain, ya know he started it so it's cool for him), country coins are dead, no water has been cleaned or trees planted, and POS coins are exactly what they sound like. So stick around and get ready for the first real coin in... well ever.