Quote from: Hippie Tech on June 24, 2014, 03:43:17 AM

Quote from: OmarGsPools on June 24, 2014, 01:21:14 AM

Quote from: equalizer on June 24, 2014, 12:43:33 AM

Quote from: OmarGsPools on June 23, 2014, 08:59:48 PM

At 115,200 HIRO produced daily we will require 0.1152 BTC to buy ALL HIRO produced that day. I don't think that is anywhere near too much and will not quickly destroy the value of the coin. At 5 HIRO a day you're suggesting that we'd produce 7,200 HIRO daily which would require 0.0072 BTC daily to buy. That's a bit extreme and definitely skews the distribution to anyone who holds/buys HIRO now.

We're at a point where extreme ideas should be considered especially if they address a known issue. To tempestb's point, investors like us (those who hold a whole lot of hirocoins) need a reason to hang onto our coins. In the absence of one, we're talking about millions of these coins being flooded into the market, in addition to the 115,200 HIRO produced per day from mining...what would that end up doing to the coin's value?

I've seen tempestb's buy walls across the exchanges, and it's pretty clear without these, the price of hiro would easily be in the 60-70 sat by now; possibly even lower as there have been days when buy pressure was severely lacking (his walls have actually brought on additional buyers).

How about a reward model that is broken up into phases with milestones attached to each? The first phase introduces a substantial scarcity of hirocoin. During this time, we give the coin a chance to recover, and if it hits a target we set as a community, that's a trigger to go into Phase 2 where the production of hirocoins is allowed to increase. Then phase 3 and so on. The rewards can remain dynamic per phase, but the swings are tighter and far lower at the start.

Below 115,200 HIRO would be extreme in my opinion, but I can bring it up to the rest of the team and get their thoughts. If we fail to create a mere $60 in buy orders to buy ALL HIRO produced daily I think we've failed. Even without the buy walls at 100 satoshi, we've had at least 0.5BTC in volume daily which is incredibly low, but enough to absorb 80 HIRO block rewards.

The reward model as of now is similar except it will be in place hopefully for the foreseeable future in order to provide price stabilization. But I get your point that you'd like to see a more scarce reward in order for the market to recover. I'll let Hiro know about these suggestions and see what he thinks.

Don't fall for it. They are likely exchange insiders and will dump, regardless of what the team decides.

The folks over at NOBL are currently under similar threat of "do or die" if the switch to PoS is not made.

LOL - come on, exchange insiders? That's flattering, but I've been buying Hirocoin since back in March and have continued to buy. I'm an integral part of the .5 BTC of daily hiro buys Omar is referring to. You could call me many things, even a fool for buying so many hiros these last 3 months, but don't call me a dumper. I still hold over 95% of my Hirocoins, both mined and purchased. I can't speak for anyone else, but dumping is for people who can't see the long view.

If by "they" you're referring to Tempestb and me, I only started chatting with him since about a week ago because I thought his idea about Hiro transactions becoming more transparent was a fantastic idea. Still do, and it still is. I hope hiro adopts this anti-anon strategy, and if/when this occurs, I look forward to helping the hiro team market the heck out of it. But for now and something far more urgent, the idea about choking the coin supply to let the coin gain some traction is just smart. People are free to equate 'smart' with 'manipulation,' but keep this in mind: even if hiro grew to 5x what it's trading now, selling the sheer volume of coins I have would greatly damage this coin. I'm not even sure there would be enough buy offers to sell my coins at break-even cost. I would imagine exchange insiders wouldn't care about small details like this, but I do.

I also don't buy BTC then dump it the moment it recovers from a low simply because I believe in the future of the coin itself. I'll have far greater strength with them than without them. This is my hope for hiro. At some point in the future, I hope my very large bag will provide me with choices, not a few hundred dollars over what I bought them for.

It's everyone's right to be suspicious of other people's intentions, but my intention is to have as many hiros as I do *and* have it be a stable, desirable, and a widely usable coin.