The problem I see with just voting and changing your parameters, is that what you are doing is essentially no different than what the fiat money central banks do when they meet and vote on changing their interest rates and parameters. I don't think you should change your coin unless it is an emergency or something like that. Just wanted to say something, maybe give it some thought. The whole point of crypto to me is to have something that is all automatic and eliminating third party risk. I think currencies should be built and let their design play out, for better or for worse. If people invested thinking the coin is going to be one way forever, and it turns out it's not going to happen, you may have some disgruntled people. Hard forking an established coin is a very serious and big deal imo should not ever be done. Imo, by changing your coin you run the risk of the coin losing trust. Because it means ultimately the design failed, so you capitulated and essentially created a new coin. New parameters that was not established from the beginning = new coin. A new coin with pre-established distribution, essentially equates to being a full premine or ICO because the distribution isn't fair for people to find out about the change before any investment happens. I would be very careful since (correct me if I'm wrong) these changes you are proposing were not part of the original parameter goal and disclosure at the coin's launch and mining phase.
If you do something like this, how can you say the coin operates without oversight and control by banks or government, when essentially what you'd be doing is the same thing. A small group of people that is governing the coin is a small government but is still a government. Ideally, imo there should be no voting or democracy, it should all be hard coded into the coin and any changes automatic based on code without any human supervision or intervention.
Full disclosure, I currently don't hold any ZEIT, but I respect it. Things like this make me hold off as well since things seem changeable and up in the air whenever. Who knows what a coin will really be in 10 years, will it be changed for the better for sure? How do you know? I highly recommend not changing a coin just to manipulate the market. It might backfire. Just my 2 zeits for ya! Took me some time to write these thoughts.
Hi Derek,
Your input is always welcome.
However fiat money central banks are making decisions , without allowing the entire populace to vote which direction they are going.
Ours is different as
All of the holders of
ZEIT can directly vote for the change or vote against change.
Discussions and arguments were a few pages ago, and then we started the Vote.
Currently it is 15 in favor and 1 against, so the Vast Majority wants the change.
The original parameters and specs seemed great in the beginning, but as time has progressed, the flaws have become apparent.
Proof of Stake was looked at like a savings account from a bank, the problem is banks used to be able pay 5% yearly , because they were bringing in 18% or higher on loans.
Proof of Stake Coins like us are not receiving that loan influx to support paying out 5%.
(It is being siphoned from our Market caps & value per coin.)Example Mint, I watched it receive over $150,000 of Fiat which catapult it to ~30 satoshi .
But I have also watched your coin inflation eat away at that advantage until now it is down to ~4 satoshi with the sell walls increasing every day.
By all of us PoS coins ignoring inflation , BTC has been crushing us at the markets.
BTC makes less than 2000 coins per day,
ZEIT & Mint are making millions of new coins per day.
There is no way for our prices to be stable much less rise , if we continue allowing such hyper inflation.
(Simple Economics)The Great thing about the
ZEIT Community is there are a lot of thinkers over here,
where any other community would be too blinded by greed to change to Ultra Low Inflation, the community here is supporting it in Mass.
ZEIT & Mint Specs have been like Brothers, however we have discovered hyper inflation to be the most deadly of foes.
And We are Voting to Evolve and Defeat that foe.
ZEIT will not be static until an hyper inflated death,
(like Sprouts, TurboStake, and others.)ZEIT will Evolve , Improvise, Adapt and Overcome
1st to defeat inflation & Lastly to Dethrone BTC itself. FYI:
Simple Fact:
Higher Inflation means people will have more coins but the Value per coin will continually decrease.
Ultra Low Inflation Changes the Playing Field, people will have less coins but the Value per coin will Increase.
FYI2:
In regards to making a Change,
If you & your friends are driving a car and the road you are taking is heading off of a cliff to all of your destruction,
It is the Very Act of Sanity that all of you agree to change course and save your vehicle and yourself.
Compare Both
ZEIT & Mint in 2 years time , and you will see 1 Brother left the original path and the other Brother stayed the course.
I am confident which Brother will Survive & Thrive.