This coin looks promising, but does contain a number of issues that could harm the viability of the coin. A few suggestions for the developer:
1. difficulty re-targeting - A 24 hour re-target period is going to be razed by multipools. This should be changed to Kimoto's gravity well for re-targeting. If the change does not occur the coin is dead before it ever started.
2. lack of pools - As of right now this is not much of an issue, but as soon as the difficulty creeps up past 1, solo mining will no longer be feasible for an average miner. An official pool will go a long way to alleviate this issue.
3. Maturation time of blocks - A block maturation time of 6 minutes (3 confirms) allows for miners to easily pump & dump coins. It also can lead to an increase in transaction malleability, as coins people think they have mined may suddenly disappear from their wallets. It may be wise to increase the amount of time a block has to mature before it becomes spendable.
I think with these adjustments this coin can do very well. In the current state though, it has a large number of flaws that will hamper it's ability to become truly successful.
Thank you for the favorable review, and we appreciate the feedback in general! Increasing dialogue (as opposed to "we want this NOW" or "SCAM" from miners and "we CAN'T do this" or "we'll get back to you on that, but we won't specify why" from developers) is another underappreciated avenue to a successful implementation of crypto currencies in everyday life.
In response to:
Point 1: I have already discussed Kimoto's gravity well (
http://www.reddit.com/r/dogecoin/comments/1wc0sr/why_arent_we_discussing_implementing_kimotos/)
with a few other co-developers and developing consultants (including ISAWHIM). This is something that seems to be "in vogue" currently, but I cannot deny its effectiveness. We are already working on implementing it into the test net, but we are currently open to discussion about it as a permanent change.
Point 2: We are waiting on current miners to take the pool initiative for the still outstanding bounty. But then again, it has only been about one day since miners could use the Windows wallet. An official pool is in the works and will be released soon, and a Mac wallet as well.
Point 3: This is something that is more of a conceptual issue. Pumping and dumping by miners is covered in Alexander's original posts (and several following thereafter). Transaction malleability is no laughing matter, as you have correctly pointed out:
http://finance.fortune.cnn.com/2014/02/21/bitcoin-transaction-malleability/. I am specifically here to recognize such "technical details" as Mr. Anderson pointed out. Increasing the maturity to up to 10 minutes is something the AIRcoin community will have to discuss, after which the AIA and its consultants will take appropriate action based off of the community's responses. 6 minutes confirming should work fine with a 2 minute block time though.