If you want to kill BlackCoin, then merge with a stupid meme based coin like Doge. It will never be taken seriously as a form of currency it will forever be a gimmick.
I thought I was the only one who thought it was a horrendous idea. Glad to see I'm not alone.
Would be too complex of a change to do and rollout to everyone anyways.. doubt this *can* happen.
The beautiful thing is that Blackdoge wouldn't actually require a change to BC or to DOGE. It would be a completely new PoS coin but the initial distribution of coins would be based on each users holdings in DOGE and BC at widely-telegraphed point in the future. Each user could claim their share of the premine for free using the private keys they already hold. Users from DOGE and BC that do nothing automatically get piggybacked to Blackdoge. If Blackdoge fails, no one loses. If Blackdoge succeeds, both communities win because you've just made your coin more useful.
This would be the first cryptocurrency blockchain merger in the world's history and would make the news all over the world! In fact, it would probably go down in the history books. Why would having a larger user base be a bad thing?
Thinks about your potential slogan. Blackdoge: meaner, faster, pure proof of stake. The future of cryptocurrency.
Instead of claiming shares in a 100% premined coin, the concept of "Proof of Burn" https://en.bitcoin.it/wiki/Proof_of_burn could be used for this new blackdoge coin.
So blackdoge specification may be
- 0% premine
- 0 block reward from block 0 (no PoW)
- 1% PoS (inherited from BC)
- Coin mining through "Proof of Burn" of DOGE and BC coins - or any other coins we like to merge
- meaner, faster, hybrid proof of stake/burn
Funny enough this "blackdoge" will be more like a black hole than orginal BC, since it will 'burn' the coin supply of the merging coins and will leave them void in the end. I don't know what will happen to the coin value of DOGE and BC, since their coin supply is cut
But this is just the technical side of the merge, i guess the marketing side will be much more complex and harder to handle...
Just my 0.02 BC
The problem with 0% pre-mine during a merger is that then it's not really a merger. The distribution of wealth for both DOGE and BC holders changes (in risky ways), and you will never achieve consensus. You will just create a new alt-coin.
By cryptographically allotting the pre-mine based on the current wealth distributions in the two coins, the new ledger gains automatic legitimacy. And it is the shared consensus within a large community that the ledger is correct that gives a coin its value (the value does not come from the coin's "features"). The value of spots of the shared ledger grows with the coin's user base and economy.
Yep, i forgot that BC/DOGE rate is not fixed and proof of burn would require and hard coded exchange rate
Nevertheless i like the idea of merging/harmonizing two very sucessful crypto currencies, which i think is (technically) the only way for crypto currencies to achieve mass adoption anyway.
The blast of new coins (good and bad ones) during the last month is not the correct way to go. The next step of evolution is either to
- eliminate all coins beside one through pure mass adoption (like VHS vs. Betamax in the 80s, or Bluray vs HD-DVD)
- or merge coins - like lira, franc, sloty transitioning to €
I know that the different coins are backed by different communities with different sentiments - but in the end all communities (should) have one goal in common: To create a crypto currency which is here to stay.
Holger
