Day T is not set.
It depents on patience and greed
So Day T will be distributed over some time, possible years.
It can help to aviod appearence of Day T on day 1. Even on day 100, 200 etc.
Take a look at Coingather - there are hundred of millions ready to dump. But there are no buy side - no possibilities to dump now.
Once conversion to new coin will be in place - all these hundred of millions will be dumped ruining the exchange rate of new coin to virtually zero.
It doesn't matter whether day T is set. The issue is the scale of existing optionality.
Devcoin's basic problem is already patience/greed vs. 'reward os dev'. People are people and doesn't seem much point starting anew to immediately rely on a different result from that trade-off.
"Once conversion to new coin.." - that's my point. I don't know what the solution is but would certainly be better to force all conversion at 1000:1 on day 1 (0.16 btc equiv) than 1:1 on day T (160 btc equiv).
Day T is not set at all. That is a idea.
The rate increase is set, not target date.
1 satoshi is not a final target - it is not even a target, it is just an ordinary exchange rate somewhere in future. Next week will give 1.2 satoshi. Another week - another 20% increase etc.
1, 10, 100, 1000 satoshis per DVC to be a reached someday with gradual exchange rate increase. But without any deadlines. Rate increase can be slowed down over the time
DVC distribution likely very concentrated and biggest holders those with the greatest power yet reluctance to change things. If you think current form doesn't work why [increasingly] reward holdouts? (that may include me btw). I don't get the point of conversion, but if anything the rate should get increasingly worse, not better.
I'm personally against any conversion/renewal actions.
New coin should be the new one without any "premining" heritage from old coin.
...
But, again, I'm strictly against any conversions for old devcoin. Just let it die and do not try to dig out its corpse.
The WORST thing you can do for long-term DVC members/contributors is not reward for existing holding. You would essentially be saying "So you contributed to DVC? Cool. You held your coins instead of dumping them because you believed in the project? Well, you should have just tanked it with the others because now you get nothing at all! Oh, by the way, interested in joining us on a new project?" Anyone that did this would end up with no reason NOT to continually dump at that point, because you'd be showing that it's the "right" thing to do.
You would literally be rewarding those that contributed nothing and continually dumped their free coins on the market, which is at least part of what caused this anyways (price was MUCH higher, 120+ satoshis, before a huge influx of people started getting added to the receivers. As more people were added, the more dumps occurred, which can be seen by just following its history).
I have contributed a lot. And have a lot of DVC. They are worthless now. If there will be no conversion to a new coin in the future - no problem. No changes to my DVC wallet - zero stays zero.
You would literally be rewarding those that contributed nothing and continually dumped their free coins on the market, which is at least part of what caused this anyways (price was MUCH higher, 120+ satoshis, before a huge influx of people started getting added to the receivers. As more people were added, the more dumps occurred, which can be seen by just following its history).
Just take a look at the price chart:
https://coinmarketcap.com/currencies/devcoin/DVC was dumped all the time. Just from the beginning.
And it will be repeated with the new coin unless significant changes to reward distribution system. Even small fraction of existing devcoins converted to a new one will ruin new coin in days. I'm trying to develop reasonable way to sort it out with not devcoin holders left behind.
It will be very hard task.
