I received a PM from a community manager or something. I still echo the statements others have brought up, and was provided no information in said PM.
1) What purpose or target audience is this for? How does/will it differ from Ethereum? Initial develoment seemed limited to little more than:
find ./ -type f -exec sed -i -e 's/ethereum/soil/g' {} \;
as with ethereum, the speculative currency is as important was the ability to drop the autonomou and decentraized applications on top of the blockchain, using the coin as the fuel to pay for the use of those applications, and having the mining of the blockchian be the verification process to ensure stability. the difference is that unlike ethereum, which seems content enough that you CAN drpo code on the blockchain and walk away content that it will continue to run seamlessly, with no real open plan as to WHAT applications those might be (which leaves things open to malicious code, and if hackers can take advantage of something they WILL), with SOIL, the marketing of the smart contracts will be industry sector driven, focused. keeping with the name, thus the branding of SOIL, we can focus those contrats on the ecology sector... auotomated farming processes.. as i mentioned in an earlier post.. dairy farms, poultry farms, unmanned tractors and intelligent crop data. these are generally completely centralized to the farms personal servers itself and are thus vulnerable to hardware failure of the computer, etc. by offering them a global network of computers to keep their applications running brings stablility and safety. it affects their bottom line, if theres a failure on their system, they can face massive losses and downtime. SOIL can bridge that gap between the real world and the cryptocurrency world. with a focussed market, it also builds a brand name, and a recognition that if you want safety for your data, with the assurance your data remains YOUR data, you drop it into SOIL and stop worrying about it.
my family has a large hatchery in alberta. pretty much everything is automated nowadays. the computer that ran the program that set parameters for the incubators crashed last year, dropping the temperature in the incubators (it was february) and freezing solid something close to a hundred thousand eggs. being a meat farm, and considering the general attrition rates after sexing and mortality, that was the loss of about 40,000 market hens. it cost them a little over 120,000 in potential revenue, all because something on the motherboard on the computer in the house went kerflooey. (my fathers technical term) a lot of other systems were affected by this and it took him newarly a week to get it all sorted out and started up again, and because its a choreographed process, he wound up being two to three months behind and it took him well into fall to catch up.
set on SOIL, those applications that monitored the incubator would not have had the same likelyhood of failure. thats the real world application of the system, and most farmers out there wouldnt have a clue what the ethereum (or SOIL) platform *IS* never mind cryptocurrency as a whole. they just care about keeping things running seamlessly and if we can offer a better chance to keep that going, those applications can be built on the chain to ensure that. the world of modern agriculture is HIGHLY automated, and while hardware failure might account for 10% of overall losses in a year, all told, that 10% represents a large cash loss overall.
this marketing aspect is important, but its until we hae a stable and confirmed blockchain that we can start setting those applications on it. the fact that the code is large for the running of these programs is irrelevant. "Auger", the shiny baby that will be the example of the potentialities of ethereum, is pretty large too.
2) Lower block times increase the likelihood of double-spends and orphaned blocks.
i read thru vitaliks ideas about that which were linked to in a post somewhere above. where he was essentially looking at the difference between BTCs and ETHs block times and how each would be affected by orphans, uncles and double-spending attacks. a larger block time for a system like SOIL wouldnt be bad because its less about market transactoins (buying a pack of bubblegum) than it is about runing the smart contracts to ensure stability. the only downside with longer block times seems to be that the potential miners have to wait a little longer to ensure their block rewards comes to them. theres got to be a happy medium, and thats why the lead developer here has been asking for community input.
a longer blocktime reduces the minting of the coins, but not by that much, but keeps the defaltionary aspect of the currency in check. so, whats the happy medium?
3) Premines and IPO's are overdone and unecessary. No serious developer wants to be paid in an untested currency.
that can be looked at from both sides. a massive premine or crowdfunding breeds distrust amongst the community. still, bounties must be
paid, for evolution of the system by outside developers, for those that help set up essential services for the currency (faucets, foreign language translations, etc). and with no premine or reserve, where do those bounties come from? those funds have to come from somewhere.
on your second point, i think if you believe in the project and are only receiving funds paid in what currency you are building, it makes a developer work harder to make sure that the front end of things is running smoothly, that the underlying system is built as flawlessly as possible. this is especially true when you arent taking out a massive payment from a reserve for the work you have done that can be just dumped on the market. with ethereum, for instance, ive looked onoine trying to find the ammount each was paid in the currency for their work and cant find it anywhere. here, the lead developer has publically stated what bounty the core development team will be looking at, and ive already stated that those wallet addresses should be made public for investigation thru the blockchain explorer to ensure that those coins are not being dumped willy nilly on the market. i think that counts as transparency.
if you do a slap-dash job, what you get paid in is worthless, and youve wasted your time. if you do an exemplary job and the project succeeds because of that, then you gain financially by that beyond intial expectations. being paid in the currency you create, your reward stands by the work you have done. both software and marketing. slack off on either and you have just another altcoin in a cryptoworld glutted with vanity coins and scamcoins that developers use to make quick money and then walk away from. if you are INVESTED in your own project, and are serious about its long term success, then you do a better job, and the rewards are greater. but, i think that counts for ANY scenario, really. just the way i was raised.
the entire thing is a tightrope, do you have a hard-capped currency that switches to PoS at a later date? how quickly or slowly do you have the minting process run? too quick and you have a market flooded, like ETH (and its current 73million minted coins, with which they are only NOW talking about the possibility of a hard cap), which quickly loses its luster and traders (investors) walk away from it. too slow (i.e. low block rewards and long blocktime) and you have no interest in mining it,or hosting nodes, etc; but with scarcity breeds value and coin-life expectancy as well. a lot of it is finding out WHAT the market wants, and what it doesnt and then finding a happy medium.