Topic: [ANN][0.8.6] Hirocoin - X11 - NGW - Secured Blockchain - Time Warp Limitation - page 15. (Read 271595 times)

   
         

I'm liking the current discussion and I'll be bringing up these points to the rest of the development team. A reward proportional to the exchange rate is an interesting concept and I'll come up with a couple of models to see how it will all pan out.

I personally don't think a direct supply change and only that is the answer, however if the supply cap is modified along with a way the coin is distributed we may find what we are looking for.

I think a more pressing concern regarding the block reward is our PoW algorithm itself, when HIRO launched X11 was a new PoW algorithm, there were no multipools or big farms exploting it, now its been a while that there are both, so mining income is centralized - and at the hands of people that instantly dump it for quick cash

At first I was confused, it pronounced in my mind as 500 million, but now I understand what you meant. 
And thank you for sharing my point.

Cheers

indeed obviously. I was gonna say "half a million", then decided to write it instead, and lapsused.

Sorry to point to, but it's not 500 million, it's 576 000 coins per day.
Maybe you meant 500 thousand

Regards

This gets my vote.

Omar - these drastic measures are worthy of serious consideration. No idea is perfect, and there are no guarantees. But staying the course is not working. We need to make some tough choices, broadcast to the larger market what we're doing and why we're doing it, and demonstrate that we are an involved, intelligent, and agile community. Changes don't have to stink of desperation - they can be about staying relevant in the dynamic crypto market.

I have been a firm believer that changing coin supply is a terrible idea because it acts to as manipulating the market in an even more drastic way than governments does. But we are still in infancy, if a change has to be made its now.

We want our coin to be a good coin, and let's be honest, 500 million coin per day is way too much. Not just a little too much, way too much. I think maybe we should tackle the bear right now, instead of keeping on going and then be at a point where we are left with too much static inflation, and too big to change it.

Like I've said, I've been supporting the idea that coin supply shouldn't even be contemplated. But i now believe that if we're gonna want to go forward, we're gonna need to revise that. It's not about the price nearly as much as about the difficulties we have been/will face with this extremely high inflation.

Also, radical changes tend be what works over here. So we want want all the little good things that hiro gives to be recognized, we might have to make 1 bold move.

POS coins into it, otherwise prices have continued down

Thank you for responding, I respect your stance.
Of course it's not the root of the problem now, because we have ~54m coins in circulation, that is very small amount, but in the future that will be the stumbling block to success .You might say let's not jump ahead of time, but when the community will get larger, they will bring up inflation model at some point and that's were it will be unfair to change the inflation model IMHO.
In your previous posts you mentioned that it will be bad for decentralization .Let's be realistic in this unrealistic cryptoland,there will always be small percent that will hold greater amount of coins then the rest,it's not a problem for them to accumulate how much they want, whatever the coin supply is, even in bitcoin(that's may be one of the most unfair distribution of coins in crypto) 100 people hold the 70% of coins if I'm right.The benefit of so called "early adopter" thing, that's stomps the concept of decentralization the crypto promoted in the first place.Sorry I digressed.


Let's do the math.
In 1 year  at this rate there will be~260m coins in circulation.
If our marketcap now is 70 BTC with 54M coins. We need to rise 380% in one year (it's ~1% a day), to only keep up at this price of 130sat e.g. if Hiro in one year will rise 380%(that is great mark) and it's not a sure thing that it will, our coins will still be worth the same.Yeah in crypto 1% a day is nothing but people who buy a coin expect it to rise in price not stagnate or worse fall, and quickly losing interest and jumping ship.That is the essence of the community in cryptoland unfortunately, therefore the success IMHO.


And another suggestion.
Is it possible to implement maybe "reverse dynamic block reward" e.g. decreasing and increasing the block reward between  50 - 400  according to market data (price/volume) in order to absorb the coins, I don't know any other coin implemented it or not, if not that might be an innovative feature.

Also we must do something in the marketing front asap.

Lastly, I want to thank you for all the hard work you are doing for Hiro regardless of our differences.
My English is limited as you've noticed, and I apologize for that.

Regards

Can you post the, usually required, equivalent BTC per/MH per day rate?

Commercial miners who might not be interested in holding a coin will still mine it if the profitability makes it worthwhile. So if you want to attract higher hashing rates you have to put the figures out there.

Thanks for the article! Great work as always. I'll be sure to contact you when we release news in the future.

Regarding the poll and ANN post, I will try to arrange for a restructuring of the ANN post to accomodate for new pools, links to downloads and mention of the forums on hirocoin.org The poll for a block reward change and coin supply reduction I'd like to hold off on. The reason is that it is not the root of the issue of HIRO's falling value. At the current supply rate and HIRO exchange rate it does not require anything close to an unwarranted amount of buy support in order to maintain its price. It also wouldn't take much to maintain a much higher price.

I'm open to discussing why it is necessary for a change and if a unique and creative scheme is brought to the table I'd gladly bring it to the rest of the team for discussion, but as of now what I wrote above is where is I stand.

Thank you for the article.
From mintpal I can't send coins to your address, that you posted under the article, it says "You cannot withdraw back to a MintPal deposit address. Please try again."
Can you please post different address or download the wallet?

Small new article :

http://www.cryptoarticles.com/crypto-news/hirocoins-new-community-manager-whitepaper-android-wallet-coming-soon#


Trying to keep HiroCoin in the news but I can't make news that isn't there unfortunately

The OP link for Poloniex exchange is outdated: https://www.poloniex.com/exchange/btc_hic
it directs you to Aiden coin (which, strangely, is also https://www.poloniex.com/exchange/btc_adn).
Anyway, it should be: https://www.poloniex.com/exchange/btc_hiro

Thank you for update,
I can't wait to read the whitepaper.

I forgot to ask.Is that possible to make a poll or something regarding the Block reward and total coins reduction as community(including me) suggested?
Maybe it wants to keep things as is.
But I don't know how it can be done without rigging.
I want to know what you think about it.

Regards


Edited:

Hey guys, I just wanted to give everyone an update on the ongoing development of Hirocoin.

Our current strength lies in our development team. We've been able to bring the community a well coded and secure cryptocurrency. As I'm sure some of you heard, Hiro was asked to assist with Darkcoin to secure their blockchain. Darkcoin being one of the largest cryptocurrencies at this time shows the ability that Hiro possesses as a developer.

Moving forward we are developing the necessities for Hirocoin to achieve merchant adoption. The Android Wallet is one of them and is near completion. This is a necessity as it'll allow Hirocoin users to make and receive payments from their mobile devices. I will be contacting a few places to grow our current platform and get us that much closer to being a transactional cryptocurrency. The main target is Moolah.io as they offer platforms for anyone to create a business which accepts HIRO as a currency.

A whitepaper is being written by me currently to outline what Hirocoin is and what it has to offer. A roadmap will then be constructed after to outline current and future goals as we move forward.

Hopefully this helps with making the ongoing development a bit more transparent.

If anyone has any comments or suggestions feel free to let us know and I'll try to respond to them as soon as possible.

Hi.Can you please answer to my question in the pervious page?
That's rude to call some members of the community sockpuppets.

About your leaving.
I admit it.You are an asset to this coin and I think you shouldn't leave(if that's possible), it would be a great loss.Your contribution to this coin can't be argued (and I thank you for that)but if it's your final decision, then so be it. Good luck!

Regards

Thanks ! And you're welcome

Thanks for all your hard work Joerii

Despite what some members have said, we all truly appreciate the dedication and work you've given to Hirocoin.

Omar welcome, we're all looking forward to hearing from you.