Oh snap that sounds interesting lol, any hint as to how?
It should be obvious. I'm going to cut the block reward on those jackasses later this year. I'd like to make it drop incrementally until we get to 1 csc per block. It's the only way we can get rid of those jokers mining csc just to autosell for btc.
Have never been a fan of "changing the rules of the game". It has happened once already for CSC and was not happy about it then. I feel any crypto that "changes the rules" looses credibility. Imagine if BTC decided to change the reward structure or coin supply? Let's be honest...what is being proposed is simply just a means of currency manipulation.
Other stuff like diff adjustments, algo, AuxPOW, POS, etc. are bearable but to a lot of people are still bad form.
Oh well, just stating my peace....and trying to provide some level of guidance.
Do as you wish
....and will it really be a consensus decision? Who will vote? The miners you are trying to penalize? No, I imagine if this change is done people will try to force everyone to "upgrade" to the new version regardless of how the miners vote with their hash. All you have to do is convince enough key people to "upgrade" and to hell with consensus.
Cartman you've been around since day one and understand that people like you, myself, goldseal, ajochems (not trying to leave anyone out) are the ones who not only have a large stake but have invested a lot of time into casinocoin and now sandcoins. Ultimately what I was trying to get at is there wouldn't be a "vote" to propose a large change like reducing the supply again as it should never be one or a few persons decision!
Discussion is Good!
In my opinion we need to do whats good for the coin, its holders and especially its potential users. Please consider the following:
- We generate about 7 mln coins a year, at current block reward that means we reach maximum coinsupply in about 5 years from now
- How important are miners to the network? I think hashing power in itself is of non-importance, the node count in the network is. So to keep solving blocks it is better to have 100 miners of 1MHash/sec geographically dispersed instead of 5 miners of 1GHash/sec. The diff will simply be lower but the network will be more resistant to nodes that go broke or hostile takeovers of the blockchain
- What will happen when the max coin supply is reached? As CSC has a low blocktime of about 30-40 seconds there will be a change that there are blocks without any transactions. Offcourse i hope we will be a big success and this will not happen but still, the amount of transactions per block will be lower than BTC. Aside from being an advantage for the transaction speed it renders it less interesting to miners as they will be paid by then through fees only.
- Users only care about transaction speed and the coin value
Considering this i think we are left with three options:
- We lower the block reward to extend the time it takes to reach the max coin supply.
- We create an alternative way besides current scrypt pow mining to process transactions in the blockchain.
- We allow AuxPOW aka Merged Mining
I personally would opt for the second option, especially if it removes the need for special mining hardware. Still you need some sort of reward which has to be paid by somebody. I think we agree we do not want to touch the coinsupply, ... so POS is not an option as that will dilute the coin. I believe some transaction relaying based POW algorithm would be the best option where clients are rewarded based on the amount of transactions they relay/confirm on the network. Anybody running a wallet or daemon could participate on that and get part of a block reward. I am not sure if something like that already exists and still the reward has to come from somewhere when the max coinsupply is reached ...... maybe a CSC Foundation donation based wallet that pays for that?
I agree we shouldn't touch the coin supply again, but your proposal seems like something that we need to look into. I remember we talked about merged mining and it was not something many we're pleased with.
Would adding smart contracts to the blockchain, enticing more services to use CSC and giving us the ability to form the foundation wallet you mentioned be a viable option ?
Hi Everyone!
So CasinoCoin still does not solve the "Full-Tilt-problem" where a gambling platform can freeze your account as well as all the funds that you have on your account on that specific gambling platform, right?
So CasinoCoin still does not solve the "Full-Tilt-problem" where a gambling platform can freeze your account as well as all the funds that you have on your account on that specific gambling platform, right?
This is a very hard problem to solve unless there was some sort of escrow that existed between casinocoin and the services. BUT this would mean someone is in control as a middleman and that defeats the purpose. The benefit of casinocoin and the blockchain is the ability to track your transactions with record of them in multiple places. You should be able to Deposit, and then withdraw your Casinocoin within a matter of seconds, and this gives you the ability to move from service to service instead of waiting several days for a Casino website to send your credit card or bank account transaction off to a third party and then relay it back to your card/bank.
been quite a while already (well business takes time lol).
