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Title: Can a crypto company introduce more mineable coins years down the road? Post by: medstudent on July 27, 2017, 06:03:52 PM Just a question...
Is it possible for a crypto company to introduce more mineable coins after all coins have been mined? I'm working on a project myself where all coins will be mined within 9-10 years. I want to destroy 1 million locked, pre-mined coins during that time (around 10k/month), and reintroduce that 1 million coins available for mining (which will take 9-10 years to fully mine) Main reason I want to do this is because I want to give new crypto users a chance to be able to mine my coins, giving newer users a chance to get involved in what I expect to be quite a solid company by that time. If anyone can answer, I'd greatly appreciate it. Title: Re: Can a crypto company introduce more mineable coins years down the road? Post by: gjhiggins on July 28, 2017, 09:17:24 AM Is it possible for a crypto company to introduce more mineable coins after all coins have been mined? Yes, but it's impossible to predict accurately whether the users of the network will accept the change or possibly even create a solution of their own that is diametrically opposite. You might care to reflect on the kind of relationship a company *can* have with a peer-to-peer network of pseudonymous nodes. I don't think the notion of “control” is at all supported. Your thinking should be along the lines of “influence”, “persuade”, “bribe”, “plead”, “beg”, “threaten self-harm”. Cheers Graham Title: Re: Can a crypto company introduce more mineable coins years down the road? Post by: medstudent on July 28, 2017, 10:33:00 AM Just a question... Is it possible for a crypto company to introduce more mineable coins after all coins have been mined? I'm working on a project myself where all coins will be mined within 9-10 years. I want to destroy 1 million locked, pre-mined coins during that time (around 10k/month), and reintroduce that 1 million coins available for mining (which will take 9-10 years to fully mine) Main reason I want to do this is because I want to give new crypto users a chance to be able to mine my coins, giving newer users a chance to get involved in what I expect to be quite a solid company by that time. If anyone can answer, I'd greatly appreciate it. You want to premine all coins and offer users to get them by mining... if I understood right. :) This wouldn't be quite a bad idea and you could create a big connected supercomputer from this for e.g. scientifical experiments... (maths, astronomics, physics, etc.) there is a lot of computing power needed. ;) No. I want to pre-mine about 70% and have the rest able to be mined. I want a time of 10 years for those 30% to be mined. During the 10 year period, 9-10% of the PRE-MINED coins will be destroyed and be reintroduced as mineable coins for old/NEW users to mine. In the long run, the amount of coins issued will never change. |