Re: [PRE-ANN] Judge Coin (JUDGE) [NO PREMINE] [NO IPO] | X13 / 20 day PoW then PoS
I think,hashing power of each worker and/or IP should be limited to not more than 50 MH/s
sounds good + i would go with x15 algo ....
The launch will be x13. We are finishing testing and will Launch July 5th at 20:00 GMT
sure np will be mining anyway (and i don't wanna mess with a judge
)what do you think about the hashrate limit on pools?
If I can chip in - even if not done for this coin hash rate limitation is the way of the future imo.
The idea is intriguing... any links to details on how it is done?
Contact the Minerals dev.
The biggest concern was the closed pool managed by the dev. If you can create a trust relationship with a big pool like Dedicated, then you can give them the source for the wallet and he can enforce the limitation. This way no-one can accuse you of any cheating. Since no-one else has the source code, no-one else can mine. The total net hash rate has to match the total hash rate of the pool. Also, if you can apply access control lists to your servers, you can limit the IPs to that of the pool, then you can make sure that no-one else can mine but the pool. You will have to rely heavily on the trust of the pool operator becuase he could of course misuse the source code but if you choose a trusted pool then you should be ok.
First of all I really appreciate the varied opinions here. In crypto like other matters people will have their opinions. Here in crypto, I believe healthy debate drives innovation and flushes out vulnerabilities.
I can see the upside to the minerals method. There may have been a time in which I would have favored it. In my time in crypto I have become somewhat of a cynic.
The non release of the source code leave the vulnerability that the dev team can make their own private pool and rent hash rate to mine it. They could easily almost in real time adjust the rate applied so that the network hash increase total would look organic.
There are so many ways that devs try to get coins up front. Another way is to make large blocks up front. Then they hire massive hash rate and pull a large amount of coins.
I still stand by the fact that the best distribution method is the open market. There are lots of people who have limited mining resources or have given up on the mining arms race altogether. If a bunch of rigs rape the crap out of the coin so be it. What are they going to do with it? They are in it for a profit. They most likely will dump and dump hard. This will create a buying opportunity for those that cant mine.
By being up front with the state of the coin I have in many ways prevented the "pumps" that go along with some of the newer coins. There is no announced feature and there is no perm dev. The price will be held in check and people will be able to buy effectively. Just my thoughts... other opinions are welcome here too
As I said, you are the Judge of the coin, but after the massive dumps the price has tanked and the interest moves on to the next coin to hash rape and leave for dead. Once the value is in the dumps, it will need a miracle in features and usability to revive interest and get the coin healthy again. Mining in an open market also drives up the cost of mining considerably. But it is your coin and you know what you want to achieve with it. Time will tell if you gave the correct "verdict" and time will be the ultimate Judge.