Post
Topic
Board Announcements (Altcoins)
Re: [ANN][0.8.6] Hirocoin - X11 - NGW - Secured Blockchain - Time Warp Limitation
by
tuvokcoin
on 05/06/2014, 19:40:10 UTC
I can understand why investors, especially the early investors, are unhappy as they've seen their investment continue to plummet. My stance on the modification of the block reward and POS implementation is that it should only be done as an absolute last resort. While it may fix the current fall in value, what happens later? We repeat the same thing again? The modification doesn't add anything to the coin other than artificially inflate the value. I can see why Joerii is against it also as it would heavily benefit any current holders of HIRO and make their current share a large percentage of the total supply of HIRO which is against the decentralization concept of cryptocurrencies.

Regarding the HiroPool, I've added an x13 port which should prove to be even more profitable than the x11 port. The previous issues with the x11 port profitability have been solved and we've paid out 200% more HIRO than if mining directly.
576,000

A little interesting market tidbit is that at the current block reward of 400 HIRO and 60s block time, we produce 24000 HIRO an hour and 576,000 HIRO a day. At the current price of roughly 150 satoshi we require only  0.864BTC to buy ALL HIRO produced daily. It really shouldn't take much to get us going in the right direction and this shows that unless multipools are responsible for dumping all HIRO produced daily they aren't of concern.

Omar,

You seem to be missing the point. The modifications I proposed at least (1/2 reward + POS) are not to artificially inflate but to prevent artificial deflation through multipool dumping. Defend the coin in some way. This is the whole point behind your own multipool -  provide buying support to counteract dumping. Is it not? I for one don't like the trend of multipool cannibalization. I would have thought Hiro would have avoided it as well. New smart coins will now all be POS with limited POW (or none at all). No problem if you disagree, as long as you see clearly the intention. Are there any other ideas to defend the coin?