Quote from: benjyz on April 28, 2014, 07:56:11 PM

Quote from: rpietila on April 28, 2014, 07:32:48 PM

If the coin creation method is changed, the ASIC owners have nothing to say.

Bitcoin uses proof-of-work, and therefore the majority of the hashing power decides. Why would the current stake-holders be so stupid to switch to a system which is unproven and where there economic advantages, i.e. their capital investment becomes worthless? That makes no sense whatsoever. Coin creation in Bitcoin doesn't arbitrarily change. That's why its a solid system. If such changes were possible Bitcoins would be worthless. All of this should be obvious to anyone who wants to understand why Bitcoin works. The reason is works is that hashing-power can not possibly become worthless. And those that own the hashing power will not agree to give it up. That's the fundamental limitation as well.

Steve, I agree the above post that the Bitcoin mining community will not voluntarily give up their printing press. However, I seriously doubt that they will be collectively confronted with that decision on your timeline.

There is already at least one member of the NXT community who at least suspects that this system can be implemented in that coin. It undoubtedly can, if enough devs are charged with the task. The founding 70 odd members certainly have the capital to invest to make that happen,

Furthermore, the BlackCoin community is already aware of its potential, and you have posted your correspondence with their representative letting anyone who reads this thread know about it.

I suspect that you will have to reconsider your plan before the end of this month.