Post
Topic
Board Announcements (Altcoins)
Re: [ANN][BTL] Bitleu - Romanian investment cryptocurrency - ASIC-MultiPool proof !
by
lumberinvestments
on 01/06/2014, 15:15:00 UTC
Stemming inflation is a good idea, but you need to increase coin value fast. Miners might not mine anymore.
We work on this. Besides what we already have, any good feasible idea is welcomed and very much appreciated!

Teodor, since you already plan to hard fork. Why not convert wallets to X11 algorithm which is more efficient and popular nowadays. Or convert to Blake-256 so it can be merged mined http://bitcoin.stackexchange.com/questions/273/how-does-merged-mining-work

Doing the above steps will ensure the network will remain healthy and hash rates stay up even with reduction on rewards.

X11 - most miners are on this now.
Blake 256 - Guaranteed mining since a miner can mine many other coins simultaneously (Dirac, Blakebitcoin, Photon, EFL)

They are open-sourced and can be implemented asap.

If we tie BitLeu with a merged mining network, it might not be healthy in the long term. Miners will be mining this automatically with other coins and dump it on the go.
My opinion is that if we stay on the original Scrypt-Jane then a much higher percentage of the people mining it will be interested to hold.

I do not foresee a change of the algo soon. The N-factor change is already enough, it will be harder and harder to mine it but will also allow people with CPU's only to mine this coin, after more than 2 years at N-factor of 15 and 16.

About the health of the network, I think that there are more and more people interested in BTL, soon we will see more miners. When the coin will raise on the exchanges, many will join the network, we do not worry about this.

Thanks for all the advises, it is good to see people trying to bring improvements to BitLeu. I can already feel there is a community forming.