Topic: [ANN][Elacoin RETARGET IMMINENT] (Read 1414 times)

Guys, we're discussing this on freenode right now in #elacoin if you want to jump in on the discussion. Thanks! I'm happy to see there are people interested in the future of elacoin

1. we didn't release the coin. Milkshake did. Milkshake is no longer around.
2. elacoin is open source, anyone can make changes to the source and release if they want.
3. elacoin is beta, and as such is subject to have issues that need to be fixed(bitcoin is beta too ).
4. we are trying to put some thought into it, and one thought we've had is that we need a windows client that can be downloaded and others can compile without issue.

However, I will agree with you on this... we have time. There's no need to rush on anything, the 3 mhash the network has now isn't going to just up and disappear. whatever we do, it should be well reasoned and there should be some consensus before we do it. Discussing is good.

At the current difficulty and reward(and bitcoin exchange value), elacoin should be worth about a dollar a piece. I think that's a pretty nice and convenient value, so we should try to keep it around there. That means coin reward should be about diff/4. When diff hits 8, reward will be 3. When diff hits what it is for litecoin (602) reward will be ~150. Litecoin is doing just fine at a much lower reward/diff ratio, so I don't see any need to make the reward ratio any bigger. Leaving it as it is would have it at about half of litecoin, which really isn't too bad either.


also I think halving the reward every 9 months is a bit too much, but I'd have to go look some charts n' stuff to decide what I think it should be. And other numbers. n' stuff.

Make sure you have instructions for us with windows qt also....

ok, i'm done changing, am "test" compiling now, who would like to tell me how to compile for windows, or would the source code suffice?

pls, do it

I would do it.

Do whatever you want to it! Go Go Go!
Just poke us here in this thread when we need to do something.

so should i do it or not? 

^this.

Nearly any action will increase the value of this coin 

the math has been done and we have devised a way that increases reward and does not devalue the current holders, it actually increases value.

3.93% profitability Diff could go back to zero, and it still wouldn't be worth mining.
FFS YOU CAN'T JUST CHANGE A COIN AFTER RELEASE!!!! IF YOU WANT THE COIN TO SUCCEED, PUT SOME FUCKING THOUGHT INTO IT, BEFORE YOU RELEASE IT

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Reasoning is the same as Kyune stated above:


Everyone that has mined Elacoin so far (and that includes me) have understood the reward parameters to be a certain set of established numbers with a certain slope as block count rises, that you're proposing to change.  Effectively, you're proposing to wipe the vast majority of the value (if any) held by anyone who mined prior to your fork.

any change to elacoin is welcomed otherwise it will be buried in a while - as it is dead since "birth"

 
its looking good

i need more votes and help to get this thing going when i release the updated client

ok, i'll run a simulation on it and see the results.

so

I saw your post in the original thread.  I think increasing the retarget frequency is probably a good idea.

But if you are going to change the original subsidy formula


I see no reason to change the constant, that just devalues any blocks mined so far (which have all had value of 1)...just change the divisor under the difficulty so the reward ramps up quicker as more people mine the coin.

Something like:

hehehe , my 2 cents

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