Topic: [ANN][AKC] Anti-Keiser Coin REVAMPED ~900M Coins! - page 5. (Read 11520 times)

This is the hurdle that this or any incumbent coin would face in this position.  You see the backlash of the current coin supporters, however losing them and/or causing a second fork of the coin would be detrimental to the coin in name.  As has been said, you'd just be better off starting a whole brand new coin.  Having existing people that support the coin is necessary - without them you'd be fighting an even bigger uphill battle, and again, you'd just be better off abandoning the coin all together and starting from scratch.

The only major thing going for it in this scenario is that it's not a private premine.  That helps a lot, at least in my eyes.  I would think it would in everyone's as well.

To answer your follow up question, ideally I wouldn't put the coin extension past 2 billion coins.  That puts the coin at 20% mined rather than 33%, but again, the higher you put that number the higher the perceived dilution of the current shares that people hold and hence the more resistance to any such plan you'll get from current supporters.

It's a balancing act that gets to be played.  You can't make everybody happy here which is why I said EVERYBODY will need to compromise.

If you are not going to accept the vote, why you started a vote? There is no option called 5 billions!

Go back to 900 milions, you will have our supporting.
Go to 10 Bil, you will lose us, and you don't know if you can have new users.

No market will accept this coin if it is already mined, and it will be mined if we don't update even before it have a chance to go on market

Here's the way I see it folks... if you DON'T change anything about the coin, what you've mind will be worth exactly ZERO since no exchange will pick up a coin that will be completely mined out a month from now.  A month from now nobody will be mining it, so even if you had set up a private buyer for your stash, they'd never receive it because there'd be no network to make the transfer or confirm the transaction with.

Make no changes, AKC is worth 0.00000000 satoshis.  Period.  End of story.

The changes proposed by the devs are ... let's say ... a wee bit overbroad.  But they ARE a step in the right direction.

#1 - They DON'T devalue current holdings of anybody that mined.  Why?  
- Current holdings != total final money supply.  It's only a long-term stigma attached to the value of the coin that people need to get over.
- AKC **has no exchange** currently.  It has no tangible historical market value.  If anyone bought/sold AKC privately, then yes they have a vested interest, but that's not a public tangible historical value on the coin.
- Because of these things the value of AKC isn't even set.  It's somewhere between 0 (which is a given with the current coin parameters) and ? (depending on how it forks out).

#2 - There's no need for 10 billion coins, but to be fair for new incoming miners the total coin pool SHOULD be increased.
- Think about it, all of you current miners basically had what amounts to a month of exclusive access to the coin.  If the devs fork it in such a way to extend the remainder of the original 900 million coins out to, say, 5 years, that means in a month of mining all of you will have had the luxury of mining roughly 50% of the coin exclusively, and would profit ridiculously from any pricing effects because of it.  Would new miners mine or buyers buy AKC if they knew that?  I think WE incumbents need to be willing to compromise some here too.

Perhaps a compromise would be in order.

Extend the coin supply by 33%, that would put us at 1.2 billion total AKC (adding 225 million coins), and reduce the block reward by 25% immediately followed by an aggressive halving at a schedule to bring the coin to a 3 or 5 mine-able year supply (depending on which is more feasible).

- This will allow the coin to remain mine-able well past the original 2 month schedule.
- The extended coin supply will partially mitigate the perceived heavy "premine" that the early adopters get, but will still be small enough that it will give early adopters a bonus against the perceived dilution.
- The immediate block reward reduction and fairly aggressive halving schedule should keep the coin value in check against both the dilution as well as the the total coin supply.
- The coin parameters should now be considerably more reasonable in general for the longevity of the coin as well as potential exchange and marketing pickup
- It's not as radical a departure from the initial AKC design, but it does lose some of the flavor of the coin.  The good thing is that it still holds true to what AKC is.

I apologize to the AKC devs for not getting involved in the process earlier when asked for input.  I've had a lot on my plate, and I really didn't want to get too involved in a project like this when I don't have time to commit to it.  I love the concept of AKC - a coin that's FAIR without the notion of making a QUICK BUCK at the EXPENSE OF OTHERS (see what I did there folks?).  That's why I'm speaking up now.

This coin is going to get forked one way or another people.  Either you can all work on making the coin viable, or you're probably going to end up with a pair of coins that nobody is going to want.

Then who will buy AKC? What market will be there?

Why no make it to be 100Bil, since you think it has been mined too much?

Manwe what's the plan ? go back to 900 milions
and after ?
o yes, mine all coins in 2 weeks
and
After ? take this coin and let people see you have coins ? you think it can work to create a market and a value for this coin ?

Tell me Manwe who is buying AKC right now?

What market is there right now?

What rewards are being divided by 11x. The imaginary value you are holding for AKC in your brain?

Yes, I rather it is dead, compare with fooling me.

I can make it to multiply 10, but so what? Do you know what will happen if people know the rewards they are mining will be divided 10?

You would rather have a dead coin with broken parameters between you and a group of guys in Georgia and a few others?

Sounds smart.

2k blocks to KGW !

No, but I do see twice the amount of NETHASH.

Do you see anyone new is joining this thread? No, only us, the old holders. You can not abandon us when you are still using this coin.
Go to make a new coin with your great idea, and great plan of marketing. I won't complain if AKC is dead in this way.

Agree, there was an openchat and nobody want to get involved we have worked for free and know we don't want a 2 weeks coin to delete all our works, we hope in this, we believe and we had worked for this

If you cared enough about this coin to become part of the dev team like everyone else had the opportunity to do Manwe, you would have an idea of what we are trying to accomplish.

I am not going to draw out a year by year business proposal for you.

You can ask the dev of NXT, it is 100% premined, why not add more new coins? Why people are buying NXT?

ALSO IF YOU GUYS ARE MAKING MORE ACCOUNTS AND VOTING MORE THAN ONCE I WILL FIND OUT!!!