This is to inform that to use Birthday Hash Collisions, the block has to be entirely restructured (a.k.a. When validating, invalidating the previous blocks thus holding the client useless to validate older blocks).
A Swap may be imminent, what is your say if a swap were to take place
Could be a lot of work for little gain. Pool operators can just make a miner and put up another pool. Then all that work is for nothing. I think one month of wallet mining is fine. Pools are the next evolution, then GPU miners, then ASICS. Well.. that depends on what this coin does. If it replaces DASH then yes those things will likely happen and its a good thing they they are happening...
Mining with FreeTrade's algo (Memory Coin) isn't going to be better its going to be worse. Only high end PCS with a lot of memory will get blocks.
You're missing the point of a CPU mineable coin. This is a coin that should be able to be mined by a regular laptop. We don't want GPU miners hogging the hash and dumping and ASICs are ridiculously wasteful. Yes, bitcoin and litecoin are becoming very large contributes to global warming. CPU mineable algorithms are the future. It ensures decentralization by making solo mining, not only a possibility, but required. This is what Satoshi had originally envisioned.
So instead of GPU miners and ASIC miners dumping we have CPU miners dumping. It doesn't matter what type of hash or how much you throw at a coin there is still the same amount of coins are produced.
The only reason this coin is still CPU mineable is because of its value. No other reason. If the value soars GPU miners will be made. If the algo changes GPU miners will be made, so long as constantly changing the algo doesn't crash the price. This is progress of a bitcoin fork. Its how all the coins that have attained any value have behaved so far. I don't expect this one to behave any differently.
I know what you guys are trying to attain here and I agree with it. I just don't think its possible. So instead of fighting it we should embrace it.
It is about making it accessible to the average person with an average modern CPU to be able to create their own coin. Most people do not have high end GPUs and certainly not ASICs. The more immediate and glaring problem is that of energy consumption. If this is to be the model we base our future monetary policy on (PoW, PoS, etc.), then energy efficiency should be of utmost concern. Bitcoin and Litecoin ASIC miners are costing the environment much more than they are even worth, but then again this goes to the ever-present problem of our profit driven addiction to fossil fuel electricity generation. If an ASIC came with a solar panel instead of a PSU, then I'd be all for it. But they are wasteful and will ultimately be replaced.
The term is GPU/ASIC-
resistant, not
proof. The job of the currency developers is to stay one step ahead of technology that uses energy inefficiently to produce cryptocurrencies. I liken it to the battle between counterfeiters and currency minters/printers. It is a never ending struggle of innovation and technological improvement. And I think that is what Fantom and the Velvet algorithm is all about. That is why I support this coin.
