I would love to be able to switch freely between the two using blackcoin as my savings and big purchases and dogecoin as my currency for all things digital
With bitcoin side-chains and spin-offs becoming a reality over time, many alt-coin communities will face tough choices in order to survive.
I thought of a "defence" that pro-active cryptocurrency communities could employ to increase their expected life span. Here's how it would work:
There seems to be a lot of support in this thread to work with the DOGE community, right? And it seems many in the DOGE community are interested in PoS due to the problems DOGE will soon encounter when all their coins have been mined. So why not merge both your blockchains?
You essentially create a new network called "blackdoge" where the initial pre-mine is distributed exactly as per the sum of the DOGE and BC unspent outputs (with some agreed upon "peg" between the two currencies to account for market cap differences). People can claim their share of the pre-mine in a trustless and pseudonymous manner using the private keys they already have.
This is very low risk, because for a while all three networks would run simultaneously. So if "blackdoge" fails, holders in either coin lose nothing. However, if blackdoge succeeds, you'd expect to see a collapse in the market price in BC and in DOGE and a sharp rally in Blackdoge. But in that case, people holding DOGE and BC win because they get piggybacked to the new coin for free which
automatically has a larger user base.
If the ecomomic majority of DOGE and BC viewed the new ledger as legitimate, then according to the Metcalfe model, Blackdoge should be up to twice as valuable as the combined value of BC and DOGE prior to the merger.
Altcoin wars are here. Successfully merging blockchains with like-minded communities is the way to live to fight another day. Brilliant idea except it would cause some distruption in prices. People who are not doge fans will not go etc. It may do "more harm than good". But thats just an opinion. Miners may get confused? not sure...
I'm glad you saw the huge benefit of instantly increasing your user base.
I don't think it matters if people who aren't doge fans don't go along, because they get piggybacked to Blackdoge for free. So unless they dump their Blackdoge out of spite or leave BC, DOGE and Blackdoge simultaneously, I think it would work.
Miners don't really matter either. They can just do whatever is most profitable. Some will decide to mine Blackdoge and if the coin increases in value, the rest will come over. If the coin fails, they go back to where they were and nobody really loses.
But think of the user base you could have if you merged blockchains with DOGE. The new coin would be
"BLACKDOGE: a meaner, faster, PoS coin with teeth." Bitcoin 117,686
Dogecoin 79,279Litecoin 20,756
Vertcoin 4,620
Peercoin 3,178
Namecoin 2,088
Quarks 1,860
Primecoin 1,654
Mastercoin 893
Blackcoin 735Doge may be receptive to the idea because they will soon run out of coins to mine based on their PoW inflation schedule. Merging the Blackcoin technology into the Dogecoin userbase in a non-inflationary way such that DOGE and BC holders both win, could be a good strategy.
