Quote from: sdersdf2 on July 23, 2014, 09:45:57 AM

Quote from: Mortimer452 on July 22, 2014, 06:33:55 PM

Quote from: thenukemforall on July 22, 2014, 10:06:48 AM

Quote from: Mortimer452 on July 21, 2014, 05:49:22 AM

Quote from: infernoman on July 21, 2014, 05:21:05 AM

well it is not reducing the total supply just affecting how mining it occurs. the dev wants people to be able to mine this coin for a long time. and wants this coin to be long term. i beleive it is also a drastic change. i suggested the block time be switched to 60 seconds to help with larger miners working on stale work. the block reward im not sure how keen i am on it.

Well, these changes will definitely make mining last awhile - probably 60 years or more. Kindof ridiculous in my opinion, no one can even begin to predict what the crypto-currency world might be like 3 years from now, let alone over half a century. Just think - 60 years ago from today we didn't even have color TV.

The existing block reward of 1,000 coins is a reasonable length of time, with roughly 1,388 days of mining (almost 4 years). Implement some block halving intervals in there and you could easily stretch it out.

As I said earlier, I have seen others use this strategy in an attempt to inflate the price. It sounds logical that reducing the mining rewards will eliminate alot of mine-and-dumping, which is often blamed for a drop in price. In reality, what causes the price to drop isn't miners dumping, but a lack of confidence in the coin in general, which equates to a lack of buyers. Miners won't dump if they are confident the price will go up.

Such a drastic reduction in mining rewards, and increased block time (and therefore slower transaction confirmation times) will be hurtful to the value of this coin. The network will slow to a crawl when the new block reward is put in place - no one is going to mine this coin for 1/20th of the value they are getting now, unless of course the price goes up by 20x to compensate (unlikely, without other efforts than the new code base). Just my humble opinion.

It's pretty obvious that one or more miners are dumping their coins every hour, every day. These miners don't care about what is coming for the coin to sell at such low prices. Reducing block reward will stop that.

Dumpers gonna dump, that is to be expected. But I can confidently tell you at least 30-50% of the coins being mined each day are not being dumped, because those are being mined by me.

Reducing supply does not automagically increase demand; the only way to raise the market price is to increase the number of coins being bought. As I said, I have seen this "block reward reduction" strategy attempted on a number of coins, it almost never works, unless it is paired with other aggressive measures to help increase awareness and community confidence.

Noob to the coin here: So is this coin dead?

Haha no. This coin has not even woken up. http://www.altcointoday.com/?p=13661