Topic: Why do coins encourage early adoption? (A lot) - page 3. (Read 1884 times)
yep. greed mostly.
It takes resources to mine and a new coin has a much higher risk associated with it then a coin that is already established. Theres the chance the coin will fail (and they do) and the resources you put into it will go to waste while you could have been mining something more gaurnteeded to give a positive return but with less possible potential growth.
Someone who is willing to take a larger risk (imo) should be rewarded proportionally as they also stand to take the biggest hit.
Someone who is willing to take a larger risk (imo) should be rewarded proportionally as they also stand to take the biggest hit.
They are deliberate scams, designed to fail, deliberately not caring that they are insecure because they have no intention of leaving any of the wealth that they scam out of people sitting there in the designed-to-be-PWNed blockchain that they deliberately deployed and hyped despite it being quite clear from the outset that there was no chance that the chain could ever be secured thus in effect it was deliberately designed not only to scam people with a pump and dump but also to be abandoned before the fact that it has less than half of the hash power causes it to be PWNed by some other criminal(s) than its own developers.
Basically being crooks they know damn well their chain is designed to be PWNed but do not care because they plan to run off with the loot before some other gang of crooks does so by using hashpower.
-MarkM-
Basically being crooks they know damn well their chain is designed to be PWNed but do not care because they plan to run off with the loot before some other gang of crooks does so by using hashpower.
-MarkM-
So I often seen coins that give out higher amounts (x2, x5) on the first few days, or their blocks halve after a certain amount of time.
I know early adopters and people with big amounts of shares in a coin are essential to making it grow; but people don't want to participate in it because they miss this big adoption period.
If I remember correctly I saw Stable Coin started out with low block rewards and the blocks actually increased as time went on. This made it so late adopters don't feel any less screwed.
What is it about giving the first few people that jump on board hundreds of thousands or millions (depending on the coin) within the first few days?
Why are a few days worth several months later? Why don't coins simply have the distribution change based on the difficulty of the coin instead of halving it and leaving the late adopters out in the rain?
Can anyone explain to me why its set up this way? It just seems to be greed to me. The developers are more active and can mine a lot more coins while the difficulty is low AND with their boosted block payouts. I'd really appreciate if someone could honestly explain it. Does inflation really play that big of a role in it?
I know early adopters and people with big amounts of shares in a coin are essential to making it grow; but people don't want to participate in it because they miss this big adoption period.
If I remember correctly I saw Stable Coin started out with low block rewards and the blocks actually increased as time went on. This made it so late adopters don't feel any less screwed.
What is it about giving the first few people that jump on board hundreds of thousands or millions (depending on the coin) within the first few days?
Why are a few days worth several months later? Why don't coins simply have the distribution change based on the difficulty of the coin instead of halving it and leaving the late adopters out in the rain?
Can anyone explain to me why its set up this way? It just seems to be greed to me. The developers are more active and can mine a lot more coins while the difficulty is low AND with their boosted block payouts. I'd really appreciate if someone could honestly explain it. Does inflation really play that big of a role in it?
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