Quote from: Scriptiee on June 26, 2014, 08:23:30 AM

The ideas on the last few pages are quite silly in my opinion, lowering the block reward when the net hash is low will most probably kill the coin. I really done see how that is suppose to help.

Going against anonymity? I dont even know how to respond to that ...

Good luck with your next project

Most transactions you make today outside of cash are not anonymous. However, the current idea being floated is not to divulge the identity of the payer, but the payee. This helps to reduce fraud. Example, you are going to pay for a new miner from Lightning Asic. If you do a web search for a Dragon Miner, you'll find a bogus website near the top of the results offering one for sale. If you buy it, you'll lose your money. How do you know which company is legit? You can post here on Bitcointalk and ask people that you don't know. There are companies sending people PM's on here pretending to be representatives of various company's customer service. They take the orders and steal people's coin.

Nobody in real life really gives total strangers money. Only in this weird Bitcoin economy do we have that going on. Even with cash, you buy stuff from a known store. You don't generally put a bunch of cash in a box, and send it to some guy named Bruce in Amsterdam because he says he has something you need. Because you know Bruce will rip you off.

The idea here is that a company, such as Lightning, would have an optional prefix identifier added to their wallet address. This would be unique and added to their wallet only. It might look like this - "LightningAsic-1J2SKCZBZ42HksEXXabstLUye9odvo2yHi"

Only they can use LightningAsic so you, as the buyer, know that this is the right company that you are sending coins to. Fraud issue averted.

Your personal transaction is still just random, could come from an empty wallet with no identifier. So nobody knows what you are buying, etc.

This is no different than how it works now, except that the wallet id is identifiable. The wallet id is always tossed out there on forums, message footers, etc. It's known anyway. So this is nothing radical or weird. It's just a way to distinguish those addresses that people are putting out there with some kind of human-readable.

I think if you consider it, it's a good idea.

As for the restriction on the mining reward. The coin is already dying because too many coins are being mined. Miners will mine the coin when the coin is profitable. It doesn't matter if it's 400 coins a minute, or 40 coins a minute. If the coin is profitable, they will mine it. If the current economy of the coin is no longer diluted from the half a million coins being added every day, then investment in the coin will cause the value of the coin to rise. More coins will then be rewarded to miners, and miners will make more money from the value increasing.

You can argue that by restricting it, more miners will drop out. But the coin is rapidly approaching worthless status and about to be delisted on exchanges due to low volume. So the current system isn't working for anyone except the guys who are mining and dumping every day. The coin's economy needs to be centered around offering features that people need and want to use. Not what miners want. Miners will mine the coin if the coin is profitable to mine. Investors will invest in the coin if they know their investment isn't getting rapidly dilluted. So a reduction in coins when the difficulty is really low is a good idea.

Besides, 40 coins PER MINUTE is still a lot of coins in comparison to Bitcoin's 25 coins per TEN MINUTES. So we know that the amount of coins being mined is hardly so restrictive that it will impact the coin's future. Rather, it might hurt some current miners ability to mine and dump right now. But I think given time to absorb the existing coins that are out there, and with follow-ups from Hiro and company to produce new features, we should see the value start to climb. And then the whiny miners will come back and mine it. Probably still be whiny, but they'll mine it.

And if not, it isn't like the coin was headed to the grave anyway. We're trying something new and it could turn out to be a great thing.

Join the conversation and be constructive and help the coin grow.