Quote from: Eastwind on May 01, 2014, 10:31:17 AM

Quote from: decanus21 on May 01, 2014, 08:37:08 AM

Logi is in a very strong position considering its age, I wonder if I am one of many who are mining and holding? Grin

price increase on poloniex is nice and steady, with a respectable 24 hour volume, which I think is exactly what any young coin needs.

I had a thought regarding funding, another X11 coin (summercoin I think) is coded to send a percentage of all coins to a development fund. I know this smells a lot like a premine, but it is one which assures the miners that there is no unfairness regarding a disproportionate initial distribution which would eventually lead to a large dump, actually it's probably the opposite, it acts as an ongoing incentive for the developer to ensure that the coin is a success, as they will be getting a steady payment from every mined block which funds further innovations in the coin.

I'm aware that the developer of Logi is far from the likes of other devs which dump their premine and abandon the coin, which is why I'm suggesting a variation of the premine to help with the funding, as I believe it to be in the best interests of the coin itself. Perhaps it could go up for vote and let the community decide?

I think 0.1 LGC every block to the development and promotion is reasonable. It is a large percentage at the later stage.

I was thinking more along the lines of a percentage, let's say 0.5% of a block goes to development, at 50 cons per block, that's 0.25 per block (360 coins per day if my math is correct), but when the block reward halves, so does the donation (again, to prevent dumping)

decanus21

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