First of all I would like to apologize for causing any potential friction between us with my apprehension towards a coin swap into a new coin (with a new chain) and naming it IncaKoin.
This was not my intention, to create criticism without any real solutions or ideas offered towards our redemption.
I’m certain I do have some valid genuine points to express, in my negative feelings towards a swap, and not only my bad gut feeling about it to offer without reason.
-A new chain would invalidate old keys people are holding out there who like to gamble on many many coins, and have not stuck to a strict regiment of investment, focus and support of one project, our beloved IncaKoin in this case, and simply aren’t paying attention.
Some service could be hosted into the future for people to swap later, but its really not a clean solution in my opinion.
-Koin holders would need to trust third parties which creates risk without any added reward. Something could go wrong during the swap process, or with the sending of the coins on the older chain to a burn address. It’s also costly to have exchanges host such a process. I don’t believe individuals within our group would maliciously cause such a problem, but errors or problems could occur, and it doesn’t set a good example or precedent for other players and coins in the future to follow in our footsteps. Hopefully we could create a trust-less solution, where by trust is not needed and forced.
What I think we should do (if it were possible) would be to create a hard fork of the koin and run a second chain with all of the new features and characteristics we are seeking very much like the recent hard forks of Bitcoin which have become popularized.
Take notice with the BTC hard forks as a reference, that exchanges who already host a coin are willing to host those forks, because they already have some skin in the game. They get new coins, simply from the coins they are already holding. They don’t need to destroy the work they have already done to add or maintain the old chainon their site, or host a swap. Its a win win for them.
Of course its an inflationary event, but the same value which is chasing IncaKoin now would be divided amongst the two chains; perhaps 90/10 or 70/30 percent favoring the new chain. The old deprecated chain would still have value, but could float at potentially lower levels and that would be fine. The old chain wouldn’t need to be destroyed and could also wait for updates and hype into the future. I would guess masternodes and a hard fork would cause some effect in our favor to attract more liquidity.
As an idea, if the new client had masternodes and dark send and mix, we could call it “IncaKoin Andesite” NKAA with reference to the black or white volcanic stone used by the incans.
We could use volcanic images on the new logos, and being 2018, we could have a tiny tiny fire phoenix barely visible flying out of the apex of the volcano.
We could lovingly name him “Clucky the spicey winged fire chicken”… or maybe not..
What do you think about a new chain from a hard fork??
It gives me an ecstatic feeling when I consider it as an option, and adds features without ruining any work we’ve already done, while using the marketing and network effect which is already out there.
