we'd have to discuss that.
For joining with others.
Here is what i see, I've had four guys ask me to take over their coins, 2 of them are like NRB in that they have their good days.
Users are tired of switching form one coin to the other trying to mine the most profitable. So if we pick out 9 abandoned scrypt coins that are traded and create a block that import all their balance up to a certain block number, allocate a given % of overall supply to each coin....we would have united 10 TRADED coins into one. meaning users need only mine one coin.
This will be optional and attempting to game it by transferring coins after the genesis is built will be pointless. Users can choose to join or continue mining seperately, but once you join, it's a commitment.
The benefits are if a lot of users join, we can have a pretty powerful userbase. By using current exchange rates of the coin we can ensure fair import into the new chain, as a result we can essentially raise the number of coins to become ALL scrypt coins.
A coin of coins.
Introduction of a different algo
Using a new algo means we could possibly make this coin a cpu only coin, which would save us from the advent of the Scrypt ASIC. while others say those are a good thing , i beg to differ, only the guys who got them first with BTC every really made ROI, if it wasnt for the chimese pump, most would have just bought losses.
By ensuring CPU only or CPU and GPU, it stays within range of the average miner. Others complain about botnets and GPU farms, but would you compare their hits versus a ASIC farm?
This is an interesting idea. Some notes and questions:
1. What are the technical/progaming challenges in merging several coins ? Presumably they all need to be hashing from same scrypt ?
2. Do you have sufficient information on the developers with whom you intend to collaborate ?
3. Would there be an apportionment/entitlement problem with allocation of stakes from old blockchains ?
4. I assume NRB would act as the senior chain (ie the benchmark coin for number and value), and the others would merge in, if that is the intention ?
Please put me right if I am making any incorrect assumption !
This will be a once off thing, merging the chains by importing is not limited to sCrypt coins. We could literary grab any coin and give it a place in this chain.
I intend to merge only coins that are traded bu have been abandoned by their devs.
The allocation is not an issue, by deciding say we will merge 10 coins.... we simply look at it's value and give it an equivalent portion. Example:-
we dedicate redeemable 10% of the new chain to coin imports, look at the explanation below.
Say we look at coin X traded at 0.001 BTC each and there are 1000 of them
y 0.01 BTC each 1000 of them
z 0.00001 BTC each 100k of them
coin each unit of y is equivalent to 10 of x and 1k of z, so we allocate the 10% based 1:10:1000 if we were importing those three only.
The math becomes more complicated the more coins involved but it is feasible. unlike the MMC/PTS import that dictated a prie based on dev's opinion, this will be based on actual market price on a given day and publicized so people can pick which coin(s) they wish to hold.
The trade is based on market price not NRB, the option i will give NRB holders is the ability to import into NRB 2.0 which will stick to the spirit i launched NRB in ...i.e no premine, experimental and capable of expansion.
NRB 2.0While some things are cleared up, it is basically a migration from Scrypt to a new algorith that will be ASIC resistant for the forseeable future, and what makes it seperate from those who opt to join in the sCrypt coin of coins , is that holders automatically own shares in The bank and hosting project i've been talking about. The Original NRB chain is unsuitable for many reasons including the fact that some coins had "disappearing effect" also some individuals hold unhealthy amounts that would constitute a problem for share issuing (You will be mailed actual share certificates on my Birthday....i'm planning to open the hosting side and small shop and trade on that day)
Only 700kH/s but better than nothing!
