I will make one more go at the trademark issue before it's too late (which I guess is when the coin hits one of the bigger exchanges such as Mintpal/Cryptsy). Please take a moment to read this, it's important.
The double Speedcoin is a problem. Look at AllCrypt's Twitter... every time someone introduces SpeedCoin they have to mention the other one. It pulls attention from the greatness of SPC, ridicules it slightly and focuses on silly things (quote - “Apparently someone thought it'd be a good idea to release TWO speedcoins. SPD and SPC. AllCrypt has SPC - which is NOT @Speedcoin grr!!”).
(now, they could have mentioned the GREAT things about SPC such as PoF instead, but they didn't... SPC is like an artist who wants to talk about his artistry, but everyone keeps asking about his haircut – also, note that they mention SPD before SPC and basically, how the hell are people suppose to keep track on which is which? Suresh will waste a lot of time to counter this)
But most of all, the name does not imply its great advantages, which can easily be corrected by SOMEONE ELSE, who will then have a great marketing advantage. This could be happening as we speak.
I am not sure how easy it is to make a clone of SPC, but I guess easy enough.
Now, if the situation occurs that someone makes a clone (soon enough) that is more direct in presenting its PoF idea, I would put my bet on that coin rather than SPC, since SpeedCoin as a trademark is laden with a burdon and misdirection that is impossible to correct once it is released to a greater market.
Today, 99% of all people who will trade SPC in three months are unaware of its existence.
Now, imagine the following scenario from today: In one month, SPC is released on Mintpal, volumes start building up, there is talk about PoF. Two weeks later, a clone with a better trademark is released on Mintpal, so there is competition... PoF starts to become the talk of the town... Keep in mind now (and this could be VERY important!), that at THIS point (the “buzz-point”), 90% of everyone who will trade with SPC three months ahead from this point, will STILL not have heard about SPC, the SPC-clone or PoF! So, when they go to market a few weeks after the initial buzz-point they will be presented with a great idea (PoF) represented by at least two seemingly identical coins, who will they choose? They have read about PoF and made a decision to put their investments on a PoF coin, will they pick FundCoin or SpeedCoin? There is not much difference than the name. Already today, I would pick FundCoin because I would expect others to prefer it.
Maybe this is a likely or unlikely scenario, but why take the risk?!
Speed is great, but it is not SPC's selling point. There are many speedy coins out there already. The selling point is the pre-mined long-term interest. Well, the whole Proof of Funds idea. If someone clones SPC and calls it FundCoin it will be very difficult for SPC to claim to be the “real” FundCoin, since they are more or less identical. ( I am not saying that FundCoin is a good trademark, it is pretty unsexy, which might be good depending on who you are selling to, but I am guessing it is not good)
Another way to deal with this is to saturate the market with PoF coins yourself, so making enough clones yourself to make it appear that the market is filled up.
Unfortunately, I can't mine SPC at the moment so your success is not a financial concern of mine (except for the 25 Suresh sent me – thanks!
, but I am cheering for you and for great and innovative ideas. I am saying this out of care and concern, not to be a pain and devil's advocat, as I would not like to see you being ran over by a clone. Why take the risk? The double Speed's are already a bad enough situation. Pick your battles... Kill your darlings... (and another twenty clichees I will spare you...