Re: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!!
ULTRACOIN IS GOING FULL POS
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Currently in todays society people are not so focused on the meaning of a coin, but mostly to the desire or the limitation of a coin.
Unfortunately our coin has the "curse" of actually being well developed and people don't care much about that.
Scrypt-Chacha is a great algorithm, but its not very easy to configure because miners have to change settings constantly, and it runs hot.
This has chased away some people, and that is undesirable.
It's just too much effort for a miner when they can simply go and mine X11 instead and have a lower power bill and increase the life of their GPU.
Next to that, a coin that is 100% asic resistant and high in energy consumption will never be mined to its peak.
Even if PoS rewards are being implemented, it will still not drive the popularity up to a level we aspire to.
Not now at 5,2% PoS but also not at 10% or even at 15% or 20% PoS.
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I disagree that miners have to change their settings too often. In one week time we will change factor from 13 to 14 and that means mining will cost less (lower power consumption) maybe it will equal to x11 power consumption. This factor is supposed to last for 6 months - 6 months of mining without any interruptions on our stable pools. Than in january the last factor change, and that's it
Only time can tell if this is the right choice. I hope so you know what you are doing