45Mh/s and 79Mh/s
That's not good. It would be good it that hashpower would come from a huge number of people mining, but evidence is suggesting that instead there are less and less miners with more and more hashpower - which means huge and expensive server farms. In other words, WebDollar is getting more and more centralized - JUST AS BITCOIN DID. We all know that the majority of Bitcoins are nowadays produced by less and less players with bigger and bigger mining farms, like Bitmain. The same is starting to happen to Webdollar, and what's bad is that it's happening even BEFORE mass adoption has ever started, and this can in fact jeopardize mass adoption. It has been a big strategic mistake to release the mainnet without already working pools. I had suggested the need of pools even before the mainnet went live, pity I was not listened to. Let's see if the upcoming pools will allow Webdollar to slowly climb back to a wider adoption and resque the project. For sure, it will be hard now, as the majority of the coins are getting in very few hands. To have a great tech is a waste of value if then you mess up everything with poor strategic thinking and unprecise and chaotic planning.
The big miners were going to get in no matter what. Maybe even faster if pools were around. In fact, that's what I've noticed with other coins. And there was a lengthy window of time where anyone with a quad core cpu could get a block a day or more. So i think things are going as well as they can in this day and age.
If the big miners get in when you already have tens or hundreds of thousands of little miners, their impact is less catastrophic. Now we are having a situation where all webdollars are mined by just a few subjects. And it gets worse and worse. Difficult to escape from such a situation. How will you now motivate ordinary people to mine?
Not in this day and age. I see coins show up and they are completely unminable day 1. At least with webdollar there were weeks of opportunity to get blocks with a regular quad core. Yes, it would've been ideal to get pools as soon as the hashrate jumped... But considering the kind of design they're going for, I can see why it's not as easy as with some other coins.
The ease of use and mainstream appeal they're going for, give it a huge potential for decentralization, compared to other coins I've seen.
Of course it still has a huge potential. But a lot of potential has been wasted by releasing an uncomplete platform, a condition which has given an insane advantage to a few big data centers. I am personallty quite happy to have mined a nice stack of webdollars in the early days, but here we are speaking of the goals of mass adoption, which is a very delicate task to accomplish nowadays. Do the coins which show up and they are completely unminable day 1 then achieve mass adoption? I don't think so. The more you want to have an enduring success, the more you have to stay away from centralization. This is not happening right now - on the contrary!
Obviously. Would've been ideal to have the pools ready as soon as the hashrate started going up. But they can't go back in time and change that. All we can do is wait for the pools and support the network once they're out.
AT THIS POINT this is indeed all and the best that we can do. But the reason why I'm remembering the mistakes which have been done is to encourage the team to be more humble and to realize their points of weakness and to find solutions to them. A great tech can be revolutionary, something never seen before, but a bad management can tank any Titanic. By acknowledging their points of weakness and their mistakes, hopefully they could avoid further mistakes in future.
Well said. This is the reason why we didn't do something to growth. To be honest we didn't expected in the first day at 1MH/s and at 40x growth in just two months without marketing.
Thanks