Quote from: TrollByFire on September 30, 2014, 09:17:52 PM

Quote from: Hamuki on September 30, 2014, 09:03:10 PM

Quote from: cjmining on September 30, 2014, 08:58:10 PM

If block reward goes down, but the price rises, then miners will stay. I know i will. Been mining it since it was launched.

Factors:

1. Someone is holding around 20% of all coins.. That is BAD.
2. If this coin is going to be profitable to mine when you only get about 1 LTCD with 150MH/s+ then it the price will be insanely high, and impossible.
3. This can damage the coin a lot.

I am not trying to FUD, scam or what ever you call it.. I hold 40k coins and im gonna keep holding..
I am just scared that this might damage us :/

Keep in mind: The community decided that exhausting the total supply of ltcd in such a short time was potentially more damaging than decreasing block rewards now. Total supply is still 82,003,200 coins. Our two options to extend the mining period were to either increase total supply or decrease block rewards. Increasing total supply would mean inflation and price would likely drop. Decreasing block rewards sooner would keep total supply constant and slow the rate that new coins are being introduced into circulation. Personally, I was against lowering rewards to begin with as well, but after I started implementing the changes I saw some of the community's reasoning behind doing so.

As I've stated from the beginning: I keep my head out of the market. If you're worried, don't buy. That's the best advice I can give you. I don't see how this will be damaging in the long term simply due to the fact that the total coin supply has not changed, but my market opinion matters little, as I am not and will never be a "trader". We've simply lowered the reward structure to increase the amount of time between now and when the last LTCD will be mined.

Quote from: Kimonio on September 30, 2014, 09:08:27 PM

Quote from: TrollByFire on September 30, 2014, 08:56:03 PM

This change was made due to overwhelming support for it by the community. Some will abandon it, others will finally get a chance to mine it. All in all, it will serve to decrease supply to match demand for the coin. Until payment processors are completed demand will be entirely determined by investors. Once I can slow down this insane development cycle I can focus on payment processors.

I think its a great move to limit the overall supply. However, instead of mining at a low block reward for the reasons people mentioned above (low incentive to mine due to small block rewards) you may want to consider implementing PoS sooner with a small percentage. Maybe even a dynamic interest rate model that is network dependent and capped at 2.5 percent (similar to Vericoin).

Users would then be incentivized to keep their wallet open to help secure the network.

We already have a few additional changes and modifications planned. I will not, however, keep up this development pace. The next few updates will likely contain only bug fixes and some core restructuring and unless something else is requested with such massive community demand, will not hard fork again until 1.3.0.

This is yet another reason lowering the block reward was preferable. The longer the coin can be mined, the more time I can spend testing actual feature additions as opposed to chasing down problems.

This is a community coin, and while ultimately I am responsible for what goes into the code, I do not make the decisions behind it. I rather enjoy working on it in this fashion. Wink

I am just thinking about the miners, the person who holds 20% of the coins, and new people that wanna get into the coin.

I dont mine and I dont buy and sell..

Im holding my coins and have done that for a long time.