Quote from: Beave162 on July 31, 2014, 10:15:14 PM

Quote from: mhps on July 31, 2014, 07:16:13 AM

The inflation is now 118% pa, or 10% per month, not counting POS. The top miner at coinmin.pl is getting 84k YAC per day. If the community doesn't do anything YAC will get the reputation that saver's value will be wiped out by a few miners when diff is low.

Couldn't we say the same thing about Bitcoin or any coin that has POW?

We could. Except in its early low hash days Bitcoin community (Satoshi and a few others) didn't care about inflation because BTC was seen as a hobby experiment rather than a serious finacial instrument. That was how Satoshi got his pile of coins. Many people see these early coins as a risk to this day. LTC has not seen its low hash days. PPC, NXT are POS. The small POW alts have all sort of issues that often dwarf inflation.

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Quote from: mhps on July 31, 2014, 07:16:13 AM

YAC survives to this day was not because someone stuck to the original release, but because someone went ahead to keep working and improving.

That is definitely the reason I have stuck with YAC, but look at YBCoin or ZCCoin. If you define value as marketcap, they have done amazing well compared to other coins which have phenomenally better in terms of spearheading activity and improvements.

Like NVC, YBcoin and ZCCoin are copycat coins that are mostly owned by a few whales (the devs and insider investors, all in China as I know). The prices of them are highly manipulated, and fixed in tight bands at artificial high numbers by the whales on their own insider exchanges. The marketsA of these coins are cornered. For example if I make a coin and keep 1 billion myself, leaving one thousand to trade on my exchange. When the price is low I buy from myself at $1, then I will have marketcap of $1B.
NVC was the first such coins (NVC is innovative coin but still a scam coiin). Its iinsider exchange is btc-e. Now it has a lot of follower.

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Quote from: mhps on July 31, 2014, 07:16:13 AM

I don't know if a hardfork is needed. But if it is, there is only one pool and 60 miners in the world to persuade.

A hardfork is really a vote of no confidence by stakeholders for their own coin. Value is based on perception, 'fiat', so you can imagine how a serious investor would perceive a coin that just forks when a handful of people are unhappy with the price per coin. Plus, you would have to coordinate with the exchanges (you TRUST they will follow through?), and I use the pool yac.m-s-t.org

Let's not kidding ourselves. How serious do the investors you refer to think about 120% pa inflation? I don't think the majority of community members are automatically against a hardfork. In the forum the majority is always silent.

Adding exchanges to coordination list? OK Cryptsy and bter. Two to add. I don't think they care either way, however. coinmine.pl has 70% of YAC hash power. I guess we really only need to talk to one entity.

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Quote from: mhps on July 31, 2014, 07:16:13 AM

For a starter, I suggest we change the cap to 25 which effectively sets the index to 0 when diff<=1. The cap is reached when diff<1 . Maximum inflation will be 49% pa. It's still pretty bad but if it is too low the miners aren't too happy. That said if a miner likes YAK, he/she should like low inflation; if she/he doesn't care, then feel free to mine something else.

With all respect (and I love your enthusiasm), I feel you are really talking about changing one arbitrary value for another arbitrary value in order to reach some unknown, arbitrary goal. Again, look at YBCoin... they have like a 1% PoS annual inflation rate? Compared to YACoin at 5%? I thought PoS was good for savers?

Even Bitcoin is called an experiment with beta software. We are all in an experiment.
"For a starter" means that it is to start a discussion. Capping at 25 is no random because it brings down inflation down below 50%. YAC has gone through high hash days well so there seems no need to change the index when diff > 1. Now what is your idea if to make a change?
No more technical comment on YBC, which couldn't even think of a better name than using the next letter in the alphabet when copying YAC.

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Your last comment almost implies a point that I would agree with: it seems intuitive that in order for a coin to increase in value, the miners need to mine and HOLD, not mine and dump. If all of the miners just put their yacoins in cold storage forever, wouldn't you retract your suggestion?

Then I will post something about excessive hording, which is a different problem.

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I think it is very difficult to convince someone who is brand new to crypto to mine and NOT dump a coin that is ranked 140 in marketcap when it is profitable to do so. Perhaps a corollary idea of helping people who are already holding to mine would be better at this point. I am flirting with an idea to send a 16GB USB stick to people in exchange for YAC. You could tell me your hardware configuration, and I'll program all the software needed on the USB, so all you will have to do is turn on the Power Supply Unit. I'm weary of the idea because not a single person was interested in my YACrates. Sad

You can lead the horse to the river ... It's far better to perfect the incentive of the coin and let market do its things in the right way. Even you prop up the hash rage by 10 times, the block size and inflation only change 10^1/6 - 1 = 50%. We are talking about 120 - 200% inflation now.