Also just a thought, but if limiting the hashrate spreads among new coins, a captcha should be required to create a mining account on the hashrate-limiting pools, otherwise large farms will just automatize the creations of lots of accounts xD
This is an absolute must otherwise it'll be bot city.
Does hash limiting also rule out the use of rentable hashing power as it will all come from the same IP?
No, you can still rent but if the limit is 50MHs, then you will have to rent a rig smaller than that, max 43 MHs because sometimes the rig goes higher and if it trips the limit the worker is briefly temp banned.
What is to stop the dev team from operating a private pool and renting hash to "rape" coins?
I still think it is much worse to let big farms reap all the coins compared to the dev:
- The dev would still have to rent a ridiculous amount of hashrate if he wants to get a large proportion of the coins as even when limited to 50 MHs/person the network hashrate gets really high (25 GHs for Minerals). So even a dishonest dev couldn't compete by himself with all the small miners out there.
- Also the 25 GHs figure of the MINS PoW hashrate vs other new X11 coins hashrate is enlightening: other recent coins spiked at 100 GHs early on, and we can assume that large farms interested in new coins have approximately 75 GHs, compared to 25 GHs for amateur miners. Thus, new coins are systematically piled up by professional dumpers.
- Compared to big farms the dev has interest in keeping the coin's market healthy and should be less prone to dumping lots of coins.