Topic: [ANN] [eToken] Rare | Website 11 languages | New version -> mandatory update - page 103. (Read 108335 times)

I wonder what this coin is like. 

of course 

eToken must be on Cryptsy!

New to etoken. Looks interesting, hope I'm not too late to the game.

I voted no. Here's why.

The problem that has been described here becomes less of a problem as the coin gain more inherent value.

What do I mean by this? Well, cryptocurrencies have no physical value. RPC has used the gold analogy, but in reality it does not mimic the gold standard in any way. One day RPC didn't exist, the next day it did. Short-term rises and fall in the coin price due to mining have absolutely nothing to do with the inherent value of the coin. People use the analogy of "supply and demand" but it's meaningless for currencies. Inherent value comes from what people believe the coin is worth.

Therefore, the greater the inherent value of the coin, the less the coin will be affected by a long difficulty retarget. Because if the coin has an inherent value, then people care less when the price crashes, because they have higher confidence in the price recovering.

But what if RPC doesn't have an inherent value? Well, in that case, it's game over anyway, and anything you do is a short-term fix. We might as well not bother.

But if it does and/or will have an inherent value, then the long difficulty retarget will not affect it any significant way. Of course it's affecting it at this early stage, because people are unsure of what it's value really is. Most miners are just interested in what it sells for now, not what its true value is.

But why not shorten the retarget anyway if it doesn't affect whether the coin has an inherent value or not? Because once the coin comes out of its infancy, there are advantages to a longer retarget. It adds stability and leaves the market less open to manipulation in the medium term.

Secondly, I do not believe that other options have been explored to the extent that they should have. Coins in their early stages have to cope with the fact their market cap increases by a significant percentage every day. If the market cap doesn't go up rapidly, then the coin stalls and dies. But to make it go up rapidly, with the coins going up each day significantly early on (as a percentage), then you have to drive additional streams of miners and investors to the coin, otherwise the price will drop, then the market cap falters.

This is where options have been exploited fully. There hasn't been enough of a media and marketing effort. I'm not talking Coinye level - indeed, that would be a bad thing. But what this coin needs is a consistent campaign to very slowly and steadily increase the amount of long-term miners and investors.

Thirdly, regarding multipools, there's really no advantage to reducing the retarget, because the multipools are becoming more sophisticated. Let's say at the moment they mine heavily for three hours, then the coin recovers over three days, rinse and repeat. Compare that to an hourly retarget, where they mine heavily for a few minutes and then the coin recovers over an hour. The ratio of times there is basically the same. And as the multipools become more sophisticated in their switching, the markets will respond more quickly too.

Lastly, regarding limiting the difficulty change to a %, it's an interesting idea, but it absolutely could not be implemented in such a simplified manor as suggested. The most obvious reason why (and there are many) is that multipools would then cause much longer effects. This vote shouldn't be about that. It's too complicated. It would be akin to having a political vote on "how much money should we spend on healthcare?" and expecting the public to be well-versed enough in economics to suggest the numbers themselves.

hmm, exchange soon i imagine?