Quote from: fairglu on January 11, 2015, 02:35:29 PM

Post-Scriptum on the PoS premine distribution:

I just looked: currently 14417 noble addresses hold funds, so a 1:1 distribution with 10 outputs per tx would take a 1442 lines scripts.

No particular coding would be needed: the script would just be a list of "noblecoind sendmany" commands, to be run on the wallet of the premine. Remaining premine coins could then be burned or whatever.

As a bonus, the distribution of the premine would be in the clear, in the blockchain, rather than in an exchange's private database.

Not saying it's the best option, just saying it's an option you can have for "free".

I like this idea very much.

I checked the numbers:
- We are at 1.881 bln NOBL right now, after burning:
https://chainz.cryptoid.info/nobl/#@inflation

- With 7.2 mln NOBL being mined every day we will reach 2 bln again in 16.5 days (about Jan 28th/29th). If we manage to have running PoS wallet by then, it would be perfect, i think. IMO it would be the best moment to stop the PoW constant supply, which is mostly dumped instantly at marker by Lifeforce, Wafflepool etc. Next "round" number. 2.1 bln, we will reach in about 30 days. I think that a round number is a good number to cut the PoW mining.

Another thing to consider: I think that staying in 1-digit satoshi price range is never good for a coin. Why? Because with X sat every even smallest price change (from 6 to 7 satoshi for example) has to be always more than 10% (from 6 to 7 sat it's 16.6%) so it's more difficult to find a "fair" price, because there is nothing inbetween.

That's why i think we should not use 1:1 distribution, but for example 10:1.

kresu

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