At least this coin actually has a new feature - best ANN all week 
Not only will it have a new feature, it will actually be well supported (unlike many other coins that we shall not name)
Topic: [ANN] ZenithCoin (ZTC) Market Making Sustainable Crypto Currency - page 19. (Read 35770 times)
Not only will it have a new feature, it will actually be well supported (unlike many other coins that we shall not name)
I think this is actually pretty clever. I think if you gave the miners 90% outright and only 10% went to the further development of the coin you would get a better response. 50% of every single block is too much imo but I like the concept.
If you compare with devcoin and freicoin which have been around for quite a long time (relatively) 50% is actually more generous.
However, think of it this way, if you were an early stage investor in a start-up, would you feel comfortable taking 90% of the outstanding shares and leaving just 10% to the people who will run the company? I doubt you will since you give little incentive for them to perform.
Mining is at present is a way to get shares at a discount relative to the market (just look at the price of most coins). Certainly, miners would mine a more profitable coin, however remember, most mining profit is made by holding coins that appreciate over time.
Wow, I get to pay 100% of my power & internet bills, do 100% of all the administration of the hardware I paid 100% for, and I get to have 50% of the coins I mine? I think this coin should be renamed to GOVcoin. Who else would tell you that being allowed to keep half of what you produce is 'generous'?
Please read the FAQ.
Anyway, the explanation is here is that we are trying to have a balanced incentive for both miners and developers. Miners provide the operations, developers provide the growth opportunities.
The weakness of so many coins is that there is so very little incentive for anyone to improve a coin after it has been released. Just look for example at a relatively successful coin (Litecoin), how well is it supported by developers?
The balance here is that miners will hoard the coin because they trust that the developers will over time add value to the coin. Similarly, if developers believe that they can be successful in building value, then they will also hoard the coin.
Yes, it is different from what folks may be used to, but most coins other than BTC and LTC will trend toward zero without sustained developer effort that differentiates the coin from other coins. Flipping parameters like confirmation rate, #of coins per block are irrelevant to survival of a coin.
I appreciate the response and I did read the FAQ. I'm just not down with giving you 50% of my meager hashing power for free. Thanks though.
Keep in mind that the key to successful mining is to hold coins that appreciate in value over time. All alt-coins that have releaase recently have done nothing but go down over time.
Also are u saying this coin needs 50% of all mined coins to get somewhere? 
Works similar to Freicoin in this aspect, however distribution is more uniform.
So, there are 2016 distribution addresses, each recorded and monitored by the block chain.
Each of the 2016 distribution addresses has their own market making function.
So one may may be a faucet that just loses money all the time but promotes the coin.
Another one may be a satoshi dice like that profits on a percentage of bets.
We have another one that provides bond like functionality.
So we have lots of these built up over time to stimulate the economy.
Over time, each of these addresses starts being incorporated in the miner in P2P fashion.
I think this is actually pretty clever. I think if you gave the miners 90% outright and only 10% went to the further development of the coin you would get a better response. 50% of every single block is too much imo but I like the concept.
Wow, I get to pay 100% of my power & internet bills, do 100% of all the administration of the hardware I paid 100% for, and I get to have 50% of the coins I mine? I think this coin should be renamed to GOVcoin. Who else would tell you that being allowed to keep half of what you produce is 'generous'?
Please read the FAQ.
Anyway, the explanation is here is that we are trying to have a balanced incentive for both miners and developers. Miners provide the operations, developers provide the growth opportunities.
The weakness of so many coins is that there is so very little incentive for anyone to improve a coin after it has been released. Just look for example at a relatively successful coin (Litecoin), how well is it supported by developers?
The balance here is that miners will hoard the coin because they trust that the developers will over time add value to the coin. Similarly, if developers believe that they can be successful in building value, then they will also hoard the coin.
Yes, it is different from what folks may be used to, but most coins other than BTC and LTC will trend toward zero without sustained developer effort that differentiates the coin from other coins. Flipping parameters like confirmation rate, #of coins per block are irrelevant to survival of a coin.
I appreciate the response and I did read the FAQ. I'm just not down with giving you 50% of my meager hashing power for free. Thanks though.
Also are u saying this coin needs 50% of all mined coins to get somewhere?
Works similar to Freicoin in this aspect, however distribution is more uniform.
So, there are 2016 distribution addresses, each recorded and monitored by the block chain.
Each of the 2016 distribution addresses has their own market making function.
So one may may be a faucet that just loses money all the time but promotes the coin.
Another one may be a satoshi dice like that profits on a percentage of bets.
We have another one that provides bond like functionality.
So we have lots of these built up over time to stimulate the economy.
Over time, each of these addresses starts being incorporated in the miner in P2P fashion.
Freicoin takes 80% so this is like freicoin with less %? 
Also who would want to sell btc worth 100 + usd to buy this coin?
Also who would want to sell btc worth 100 + usd to buy this coin?Yes, however no demurage, flexible proof-of-work scrypt based and 2 times BTC mint rate.
What is the starting difficulty of the coin?
By the way nice of you to make a real announcement first
By the way nice of you to make a real announcement first
This will depend on the proof of work selected on a current poll.
But rest assured, it definitely will not be zero like so many other coins before it.
Also are u saying this coin needs 50% of all mined coins to get somewhere?
Freicoin takes 80% so this is like freicoin with less %? Also who would want to sell btc worth 100 + usd to buy this coin?
Also who would want to sell btc worth 100 + usd to buy this coin?
What is the starting difficulty of the coin?
By the way nice of you to make a real announcement first
By the way nice of you to make a real announcement first
Wow, I get to pay 100% of my power & internet bills, do 100% of all the administration of the hardware I paid 100% for, and I get to have 50% of the coins I mine? I think this coin should be renamed to GOVcoin. Who else would tell you that being allowed to keep half of what you produce is 'generous'?
Please read the FAQ.
Anyway, the explanation is here is that we are trying to have a balanced incentive for both miners and developers. Miners provide the operations, developers provide the growth opportunities.
The weakness of so many coins is that there is so very little incentive for anyone to improve a coin after it has been released. Just look for example at a relatively successful coin (Litecoin), how well is it supported by developers?
The balance here is that miners will hoard the coin because they trust that the developers will over time add value to the coin. Similarly, if developers believe that they can be successful in building value, then they will also hoard the coin.
Yes, it is different from what folks may be used to, but most coins other than BTC and LTC will trend toward zero without sustained developer effort that differentiates the coin from other coins. Flipping parameters like confirmation rate, #of coins per block are irrelevant to survival of a coin.
At least this coin actually has a new feature - best ANN all week
Wow, I get to pay 100% of my power & internet bills, do 100% of all the administration of the hardware I paid 100% for, and I get to have 50% of the coins I mine? I think this coin should be renamed to GOVcoin. Who else would tell you that being allowed to keep half of what you produce is 'generous'?
Looks similar to an idea I had in PM.
Thanks for stealing my idea but this coin is selfish.
The "fund" goes to perpetuating the coin itself.
Thanks for stealing my idea but this coin is selfish.
The "fund" goes to perpetuating the coin itself.
You have a link to that idea so I can 're-steal' it?
Anyway, that's a good term.... the 'selfish coin'.... kind of like the 'selfish gene'.
Maybe it is one of those things where people think of the same thing simultaneously - who knows
Looks similar to an idea I had in PM.
Thanks for stealing my idea but this coin is selfish.
The "fund" goes to perpetuating the coin itself.
Thanks for stealing my idea but this coin is selfish.
The "fund" goes to perpetuating the coin itself.
You have a link to that idea so I can 're-steal' it?
Anyway, that's a good term.... the 'selfish coin'.... kind of like the 'selfish gene'.
Looks similar to an idea I had in PM.
Thanks for stealing my idea (I'm flattered) but this coin is selfish.
The "fund" goes to perpetuating the coin itself.
Thanks for stealing my idea (I'm flattered) but this coin is selfish.
The "fund" goes to perpetuating the coin itself.
difficulty changes every 4096 blocks...hmm i dont see it lasting long after the initial hype
That actually has changed in the latest release.
To what?
Like to add that if it did change that is good because your learned from past issues which is awesome.
difficulty changes every 4096 blocks...hmm i dont see it lasting long after the initial hype
That actually has changed in the latest release.
It is quite interesting especially how the development fund will be used.
Yes, potentially the growth curve could be at 50% that of BTC if the fund selects this kind of reserve.
However, this is all experimental, so a combination of deflationary currencies and market making activities would be employed.
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