Hi - A question for the DEVS
You say that Israel is controlled by few families and cartels - and that most of the power and money lays in the hands of few people.
The moment heavy duty ASICS will hit the market - there is a potential situation where the majority of the mined Isracoins are going to be in the hands of few people.
Now many coins implemented algorithms to combat and delay ASICS (even a year is CRITICAL) ... its much easier to do such things when the coin is still young and its price is not high.
Are there any plans to implement such a thing into Isracoin ?
I got the idea from a post in your forums (you didn't reply to the poster)
It would be great to get feedback from you... you know that I am not asking something silly like "how many businesses signed" or "pump and dump" kind of questions
I wish you all the success with coin
There are no immediate plans for such implementation.
Scrypt is the most tried and tested algo out there right now and still, up until just 6 months ago or so, everyone thought it was asic-resistant. Now everyone knows that's not the case. Other technologies will most likely lose this battle as well, since where there is a profit to be made, there is the incentive to overcome the technical challenges with hardware and this is a race we would always lose. Delaying for a year is irrelevant for a coin that is designed with real longevity in mind and that longevity will come from its actual performance in and acceptance by its target market, rather than by trying to out-run asics.
The asics game is rapidly changing and very soon will become anyone's game and not just those who have a lot of cash to spend on it. Still, it is possible that some people will invest a lot and have much more hashing power than others and that is the nature of capitalism. With that said, a big difference needs to be noted here between that and what has happened in Israel, where the government (several decades ago) has handed the keys to the kingdom on a silver platter to just a few people, who did not even have the money for it but instead borrowed much of it. Most of Israel's population is still paying the price for that, decades later.
Isracoin is open, unbiased and lets anyone do what they can. The goal is not redistribution, but rather liberation and of course everyone can partake, if they so choose. I'd like to see you walk into a bank and tell them you'd like to partake in their printing of money. Let us know which prison you get sent to, so we can send you a cake with a file in it.