Bitcoin Forum

I'm a software developer with many years of experience, and I have been kicking around all sorts of ideas, but I find it hard to come up with a scenario where I would make any decent return writing crypto coin code.   Heck from what I understand Gavin wasn't getting fully paid for a long time.  If he isn't getting paid enough, how could any other developer expect anything? 

One area is the alt coin arena.   How do the developers get paid unless they pre-mine and they get raked over the coals for doing so.   From the way I see it, it would be better if a percentage of the mined coins continually went to the developers, so no pre-mine would be necessary, and the coin would keep improving.

Is there any area to get into that makes sense?

I don't think it's much of a decentralized cryptocurrency if it involves continual payments to some specific hardcoded user. I think you'd be hard-pressed to see a cryptocurrency like that take off. Bitcoin received a lot of popularity for being completely decentralized.

Running a useful service for a cryptocurrency like an exchange, mining pool, etc, which takes a small known fee is probably the best bet for getting paid for cryptocurrency-related development.

Developers of coins shouldn't hold any coins hostage or give themselves an unfair advantage in the coin.

If their coin is truely great they will get donations from the users for their hard work.

Otherwise we reduce all these altcoins to ponzi schemes.

If you develop something good, you will get donations.

And you could always mine like the rest of us, VLAD

If there are any crypto coin developers here making a decent wage of $40/hour using any means please let us know how you do this (pre-mine, donations, something else).  If there are any crypto coin developers making more than $8/hour on donations alone please let us know this is possible.

If you haven't figured it out yet, making open source decentralized P2P software is not the correct field to go into if you want to guarantee yourself a good income from the work.

i am starting to believe in the hard coded thing. I have been considering methdos of reserving then taking addresses.

Example, i create a new coin. I have hardcoded 10 addresses to each receive 0.3 %

the first one is mine, the next two will be for the two best pools over a period of 1 month. The next two are for The first two exchanges to take the coin.
One will be for a faucet, another for manual bounties and another for giveaway. the last two will be reserves in case the dev team needs a hot wallet.

Is this a hypothetical, or a feature you omitted from mentioning in the description of your Noirbits currency?

From the description of the Noirbits currency:

Also, to be honest, what development work is there on Noirbits besides changing some Litecoin parameters? I feel like I'm the only one not drinking the clonecoin kool-aid around here.

The miners really have  a different perspective.

But honestly, over time it will change.  It is just not sustainable an environment and there seems to be little reward for innovation.

Imagine if every startup had to sell all its shares to the public and the stakeholders had to buy it back.

Anyway, that's why I built ZenithCoin,  to test out the theory.

True.  Same as most every other coin out there.

It will however ultimately boil down to which coin adds more utility (i.e. services).  

Bitcoin clearly has superior services, however new devs should consider that Bitcoin has its own constraints that give new coins an opportunity to exploit.

Litecoin for example exploited the first problem,  the lack of decentralization of miners.

Other coins, will eventually exploit other flaws and have a chance to grow.

It is only the miners who care about 'pre-mine', 'insta-mine' B.S.   Actual users don't care.

In fact, the russian coins... NVC and CopperLark  have held on to high prices because they control the mining.

That doesn't sound like a good thing (the idea that users don't care).

First you Develop a coin, get it to a market to give it a starting value. Then you begin to roll out services, and goods that can be bought with a currency that has measurable value determined by market forces. your judgmental tone begs you read the OP. Devs want profitability, i did not hold onto any coin before releasing it and since i get no donations, there is hardly any incentive to further develop. I have many ideas and most of them garner the interest but no traction since people want devs to do it for free. A total clone of LTC could do better than LTC if it has active devs who are well incentivised. The open community idea is great but does not pay bills. Getting a stipend for my work is not centralizing anything, it is simply getting paid for my work. 

If you did understand anything about development you'd know that any form of idea needs developing, testing , refinement then release. even when released it does not mean people will like it. Have you done any coding before? If so please highlight how easy it is to code something useful. We live in a time where governments either frown on cryptos or don't understand them at all. i spent a very long phone call explaining to some officials what cryptos are, how they work and how they benefit society. after they expressed confusion i sent them simplified explanatory emails. They have agreed to conference again but they asked me one question, since it is not fiat, how do i expect to deal with the regs of founding such an enterprise? in which tax domain does it fall? Have you ever read any countries banking laws? i have read through quite a few and none has even an idea of how to truly classify what we are doing here in proper context.

So to be honest, you have no idea what you are talking about until you try what the "kool-aid" drinkers and makers are doing. Don't be a hack that just talks, if you don't like altcoins, or just Noirbits, at least be an informed person, right now your honesty just seems like jaded opinion.

Except that most often, miners are the coins earliest (and most influential) users.

They dont make money from the coin, and just do it as a hobby ;D

Expecting people to donate to developers is not very smart thing to expect..

Just design the coin in the way that it gives enough benefit for users and yourself. If you design it in unfavorable way, there is pretty big chance your coin will "die". If you create a totally "fair" coin, you might not want to continue development, because of no benefit for you, and the coin dies. So what you have to do is to balance premine/tax/whatever strategy in a way that is favorable for everyone.

pre-mine .5 - 1% of the coins.  Tough luck if anyone whines.

Right now the rewards are just slanted way too much to the miners and not enough to the developers.  And pre-mine is just way too much guesswork.  You could pre-mine way too much, or not nearly enough.  I'm thinking though what we really want is a long term, if not perpetual commitment to development of the currency.  That means giving a perpetual reasonable small % of the rewards to the developers.    The developers can then give bounties to pools, exchanges, etc.  I don't think you can just hard code 10 addresses though for the developers.  You would need to change those addresses over time to protect the private keys.  Maybe we can come up with some other mechanism for making this happen, but something needs to happen, otherwise we are just going to be left with a bunch of worthless abandoned coins.  That does not benefit the miners or anyone else.  If I'm mining a coin, I do not want the developer to view it as some kind of hobby that gives them no reward.  The developer is bound to move on.  I want the developer to be more interested than me the miner in seeing the coin succeed.  Otherwise miners are all going to be interested in is pump and dump, which is what we are seeing now. As a miner I want coins I can rally behind and stick with for the long term.

Isn't it pretty much like any other business?

Since you are it seems looking for a job, what you basically need is a business, company, corp or whatever that will hire you.

So it boils down to how do such entities afford to hire people.

That in turn can vary over time and in response to market forces.

For example when bitcoins are going up and up and up on average month to month, maybe a company holding lots of bitcoin can afford to hire someone by selling a few bitcoins, hopefully selling few enough that the value of their unspent bitcoins is still growing despite the fact they are spending money on an employee.

But when bitcoins are going down in value on average month to month, maybe such companies will have to lay-off their workers.

So maybe a company could also mine bitcoins? First off it would be nice to mine enough to keep the total value of their hoard of coins from falling even while the individual value per coin is falling.

Then maybe some companies might consider diversifying. Maybe hold and mine bitcoins and litecoins. Of course when I say mine bitcoins I mean mine all the merged mined coins, or at least as many of them as is technically feasible without the overhead of servicing lots of blockchains causing overall loss. (Some folks have claimed for example that because GeistGeld's blocks are so rapid they lose too many nanoseconds processing GeistGeld work, degrading the processing of other chains by more than the GeistGeld coins are worth to them in their system of assigning or evaluating worth.)

Do you have the skills to develop pool software that tracks all the merged mined chains and rewards all the miners with the correct amount of each of the merged coins?

If so maybe you could start a merged mining pool business, which if it is successful might be able to afford to compensate you for your coding and maintenance time writing and maintaining and updating and bugfixing such pool software?

For me since bounties have not resulted in anyone producing such software I am now moving on to the idea of a merged mining business, that would be the only user of a merged mining pool so that the problem of divvying up the mined coins would not exist. The company would own the pool and all the coins mined, presto no need for coders to code software for divvying up the coins. So I guess maybe coders put themselves out of a job by being so slow to respond to a coding need that the market moved on to look for ways to do business without needing new code.

There is of course a lot of overhead in running a merged mining pool, even for just one user (the company); already a third dedicated server is being set up because the two already in use just aren't enough to do the job well. There is also a lot of delay in obtaining decent ASIC gear to mine with, so that right now is not a great time to try to raise capital to obtain such equipment because right now the prices of equipment that can actually be deployed within a few business days of ordering it are exorbitant.

I was a programmer for most of my career, so have had decades to wonder how is it that so many programmers end up being hired by managers/businesses instead of being the ones who hire business managers to run their business office for them so that they are free to spend their time programming instead of dealing with whatever it is that business managers deal with.

It seems that maybe managing a business well enough for the business to be able to afford to employ anyone might not be a trivial task. Could it be that it is even harder than actually programming is? Could it be that programmers wanting to hire a business manager to set up a business capable of employing the programmer would realistically find they need to pay the manager more than they the programmer gets paid if they are to succeed in finding and keeping a manager who can actually do the business-managing job?

Personally I no longer have time to code, merely trying to create and run enterprises that would like to be able to afford one or more coders (or even one or more hours of my own time spent coding instead of trying to raise money to pay for coding) takes more time than a normal full time worker puts in working.

-MarkM-

They can have the button ready on ./cgminer ... so they can mine from the very start
that is bound to be profitable

You are free to pay the developers of any coin you choose to mine to do whatever updates/improvements/bugfixes you would like some/any coin you mine to have coded/developed...

-MarkM-

Roll out services and goods that can be bought with it? It looks like you just pre-mined took a cut of mining (we really need to have a term for this much worse practice of hardcoding a scamcoin to mine for you) and then used those free coins to pay users to make those services with ill-gained bounties. If you did make any of those services yourself and I missed that, no reason they couldn't have been for a non-scamcoin.

Yes, I'm a Real Developer©, and I can imagine all the work that goes into changing Litecoin's name and blockchain root. I guess re-doing the logo nicely probably took the longest.

Holy shit, people actually take the idea of "make a litecoin clone into a scamcoin and treat it as a business to make a living off of" seriously around here. Is this subforum where all of the developers went who saw bitcoin as a get-rich-quick scheme and completely missed the point of its crypto and decentralization?

I'm working on a coin that will have a constant stream of grants built into the blockchain for developers.

To avoid hardcoding any addresses, the coin will use proof-of-stake voting to decide how to allocate grants.

You can read more about the proposal here - I'm looking for feedback on it.
https://bitcointalk.org/index.php?topic=254334.0

There is no good way to do it

If you are a good developer, with a history of doing development work wherever needed, maintaining various coins, creating pull requests (patches) for various problems various coins encounter etc, maybe you will become a go-to guy that people will be more and more inclined to try to hire/bounty whenever some coin or other needs something or some useful software many many coins could all make good use of is not available yet as free open source code?

For a long time now all the merged mined coins have all been in need of an up to date copy of bitcoin with the "merged mine as a secondary chain" patches applied, for example. Maintaining coins is maybe even more important than cloning new coins, so to me the fact that so many coins are not being kept up to date, especially in this case where many coins will all get the benefit, leads me to expect that the cut and paste clonecoin kiddies are likely not to keep the new cut and paste clonecoins up to date, since they have not demonstrated any ability to update any coin at all.

We can look at the scrypt coins too, as soon as an scrypt coin based on the latest bitcoin is available, or even just an up to date bitcoin with only the change of hashing method applied, all the scrypt coins that are running older code can be updated. But that doesn't seem to be happening either.

So it seems pretty clear to me there are not enough developers active yet to even just keep the coins that have existed a long time up and running with recent code so spawning yet more clonecoins just makes more and more and more coins that need their code updated, increasing the backlog of chains that need updated code instead of actually doing the work of updating the damn things...

Show us you can bring up to date the existing coins, then maybe a new coin you come up with might have some hope of seeming credible as a coin that might keep up to date with the latest bugfixes and innovations in cryptocoin code/technology.

-MarkM-

Oh, I see, the developer, who spent weeks, coding, and testing and compiling, and recoding, and recompiling, and retesting, ect, ect, ect, then, after release, spends hours a day, of their spare time, promoting the coin, and establishing services, and taking shit from everyone on the forums, should get the same payout, as someone who spent a bunch of money on mining gear, flipped a switch, and sat on a couch watching TV? Hmmmm, makes sense. All buisinesses should operate that way ::)

There is nothing wrong, with putting a small ammount of your creation, in your own wallet. If it takes off, you get what you deserve. If it doesn't, your premine is worthless anyways.

Except its not worthless, its grist for the pump and dump mill.

Some scummy exchange will list the coin to get a percentage of the bitcoins or dollars or litecoins people pay for the latest tulip mania scamcoin crap, the premine is dumped hopefully before the suckers realise it is just yet another of the daily round of pump and dump scams, and by then the next scam is ready to launch or already launched.

So even if it is a total flop, the scam exchange(s) and the clonecoin spawners get to pocket more bitcoins, litecoins, dollars or whatever from the suckers who buy such crap, as a bit of free loot for a few hours between that pump and dump and the next one that is already waiting in the wings to take its place.

-MarkM-

I'm talking 1-2% premine here. Not the 7 million that was premined with coins like GLD. Just saying, why should someone with 1000's of dollars of mining equipment, get so much, while the developer could potentially get so little, of a coin they created? They should rely on donations, from, for the most part, small time miners? Because, in general, big mining setups, are not worried about paying anyone, except themselves, and the power company.

And, we'll fall back to the ussual, Bitcoin, which everyone loves so much, was pre mined to shit

Creating a coin is nothing like running a business lol

I run two business on a day to day basis. 95% of these coin creators would never even get their doors open. Don't act like it's that hard to change a few lines of code. Write something from scratch or introduce a new algorithm if you want people to take you seriously

Exactly what I said. Come up with your own algorithm or code. Then you deserve to premine it. Change a few lines and you don't deserve a god damn thing, you special little snowflake, you

The last coin written from scratch, was probably Bitcoin, you fucking moron.
Just look at the goddamn LTC code. If you don't know anything about programming, stfu

And Scypt was not a new Crypto algorithm, it was just implemented into LTC ::)

Arg, I want to punch you. Even the fucking icons and pictures, in every single fucking QT wallet, are called Bitcoin.xxx or Bitcoin_testnet.xxx >:(

Exactly.
If this were a forum for P2P filesharing tools, would we see clonetorrent developers whining that they should be able to backdoor their software so their own files get shared faster or they have more access? No one would give that shit a second look. But here, just because it's a P2P value transfer system, it's supposed to function as a business that profits them directly? A P2P cryptocurrency isn't a small business. It's not a packaged product that you sell (well, the miners will sell the results in their use of it). It's not a charity system. If you want to get paid for running a service managed by you, then providing decentralized software is not the place to look!

Satoshi is the developer. I once upon a time thought I was at least giving him the genesis block coins when I made new chains, but I later learned oops he doesn't even get those!

If you are doing a scrypt coin, then maybe both Satoshi and Lolcust/Art or whoever are the developers, so maybe give first block coins to Satoshi and second block to them?

Then there is the clonecoin kiddie who does a search and replace changes a few ports and block rewards and such, not a developer at all whatsoever, just another "lets scam some money out of folks usuing what Satoshi and maybe also lolcust/art developed...

Heck how about you first bring Tenebrix and/or Fairbrix up to date with latest bitcoin code first to show us you actually can maintain/update an scrypt based coin before spawning yet another one to add to the backlog of scrypt based coins that are not yet up to date with latest bitcoin code?

-MarkM-

But, exchanges profit off the coins, faucets profit off the coins, gambling sites, pools, ect, ect, all these services profit off the coins, but the developer is not allowed to profit of their coins? Seriously? Are you on glue?

LTC, is a BTC clone, with a different Crypto Algo...THE FUCKING CODE IS ALMOST IDENTICAL

And The Pirate Bay gets a shit-ton of ad money while relying on Torrent technology. Just because you're vaguely involved doesn't mean you're entitled to a profit by backdooring yourself a cut or undermining the system's integrity.

LTC made much more innovation than 95% of the clonecoin litecoin-renames in this subforum. Most of the clonecoins change so much less.

Again, the developers are Satoshi and lolcust/art, maybe with lolcust/art eclipsed lately by Colbee who at least DID bring Tenebrix/Fairbrix up to date in a kind of sleazy lefthanded way (he changed the name of the coin and the ports and so on, thus providing Tenebrix and Fairbrix with a template of updated code they could change back the names and ports etc of if they chose to, he called that template litecoin, and the rest, as they say, is history...)

As has been pointed out again and again and again, it would be ridiculously easy to make a coin generator that you tell it the new name new symbol new rewards etc etc and it generates a new coin, then feed it with random names images symbols rewards etc to have it spawn hundreds or thousands of new coins per day or maybe even hour.

The only reason that has not happened is the scamkiddies who want it are so utterly incapable of doing actual development that even such a trivially easy app as that is beyond their abilities...

In short, they are in no way shape or form "developers".

-MarkM-

P.S. And yes, one can easily leave lolcust/art and coblee off the list of developers, though coblee maybe could be called a maintainer in addition to a clonemaker.

And I'm sorry, which coin did you create?

He just explained exactly how useless that metric is.

UKB, CDN (http://galaxies.mygamesonline.org/plotcdn.html), MBC (http://galaxies.mygamesonline.org/plotmbc.html), GMC, GRF, UNS, NKL (http://galaxies.mygamesonline.org/innkl.html) (see http://galaxies.mygamesonline.org/digitalisassets.html) and did some of the coding and prototype-trying for Unthinkingbit's DeVCoin, prototyped in what ended up as GRP (http://galaxies.mygamesonline.org/plotgrp.html).

-MarkM-

I knew I liked this guy for a reason

Stop acting like you understood a fucking word he said, fucking carpet cleaning retard

My issue is the lack of formality from these clonecoins.  For instance, when Digicoin was released and we asked Baritus why 5 confirmations was enough and his only answer was "because of my tests".  And then he supposedly was working on a paper to publish the details as to why. It's in the first page of posts of the digicoin release thread if you want to check it for yourself.  But guess what, no paper has yet to be released.  Baritus is also the same developer who was blatantly mining other coins by contract during the first days of digicoin's release, when arguably 'his' coin is most vulnerable and would thus benefit from additional trusted nodes/miners.

Another issue is the anonymity of devs.  We can see who Gavin, Wtogami, Garzik, and other people are.  They're not just a string of characters or an avatar in a forum.  It's all about accountability.  These ghost-clonecoin-devs premine and claim it's for development and yet we all know we can't do a damn thing when the dev disappears.  This is part of the frustration when we see a coin has been premined.

You won't be able to satisfy everyone regarding the premine vs no-premine debate.  But you want to lessen the backlash of a 1% premine or block subsidy to the devs?  Then don't just be a forum avatar.  Post a CV and resume.  Post your Linkedin/Facebook/Google+ page.  Post a public portfolio.  Dare to post a (legit) phone number on the coin's website.  Dare to show us you are not afraid to be held accountable.

I had my google+ page as a signature but removed it because I got too many people pm'ing me.  But when I release my project to the public later this summer, I won't just be a forum avatar.  You'll be able to knock on my door ask me a question...

-Merc

That is quite possibly, the stupidest idea, I've ever heard. I have been threatened, more than once, by fucking freaks on these forums. Sure, no problem, I'll give them my phone number and home address, so some teenage fag, full of angst, can call me, or show up on my families door step.

It's ok. You're just mad that I'm getting rich while you sit on your fat ass. I'm used to jealousy, but you take it to a whole new level

Careful guys, we've got an internet tough guy. In before you post more pictures showing how tough you are. I really hope your family doesn't realize what an ignorant asshole you are. I would be embarrassed

I'm a electronics / communications tech in the military, and, I've already posted pictures of myself. Lets see a picture of you, there, "winner"

WTF are you talking about? I don't threaten people on the internet, idiot ::)

You lost all credibility around here, when you made that Emo, attention seeking post of yours

Yea, I'm going to post a picture of myself proving how tough I am to a literal nobody who means absolutely nothing to me lol. Since you want to talk all this shit, you would think that maybe you would take the time to realize we are a veteran owned business. Take that how you want to. Real men don't need to act tough on a website. I thought you would have learned that by now

Keep releasing your shitcoins and making your $20 here $20 there. I'll continue to make a significant income in the industry you seem to think is nothing but dirty old men

Yeah, I know how that works, you got a paper cut on duty, now the government gives you tons of tax payers money, to keep your business afloat. I guess you really are getting rich ::)

I didn't say your number.  I said 'a' number...

But it's exactly your unprofessional reaction that shows your true colors.

I've been around these forums long enough to know the reputation of many users.  So I know you're not liked.  You reap what you sow.  You can't or aren't willing to prove you can be accountable, then why the fuck am I talking to you?  Why should anyone give a flying fuck?

If only you realized how stupid you are making yourself look...I think I'm finally learning what it feels like to have actual pity for someone. Like...you don't even make me mad. I just feel sorry for you...

Except that it wasn't.  Other than that you are spot on.

Nonsense, I will simply make myself a few super blocks and hard code my addy for 1%  and then be the workhorse for my coin until its popular, I developed it, I worked it so i gets to eat!! Problem? Make your own damn  coin and support it.

I did a free one and I'm happy with it, now I wanna get  paid.

"Now launching: PayMeCoin! This is the coin to use if you want me to take a cut out of your money!"

No such thing in Noirbits source... It used to be a foocoin clone, but I've started working on it, and am planning to implement some features.


Well, my work. Have a look @ the commit diffs for Noirbits, you'll see there's work involved, mostly on difficulty and hashrate calculations. Nothing too fancy for the time being, but as I said above, I'm gonna push in new features once I get more comfortable with the source.

You're right about this - coin creators way overestimate the importance of miners, and GPU miners in particular. Creating a coin for the benefit of miners is like creating a university with the purpose of employing janitors. Janitors are necessary, and you want to create a good situation for them, but they are there to serve the University, not the other way around.

Ideally you want a wide distribution of low intensity miners, not a small number of high intenisty GPU farms.



Pre-mining is generally a bad idea. You've got to open source your code . . so another developer can just remove the pre-mine, relaunch the coin, and immediately have a superior coin that includes all of your innovations, but without your pre-mine.


Yes - and, seriously, I think I have this problem solved. Check out my previous post.

You don't have to open source, it is BSD license.

RUC for example the only code I have been able to find is way the heck out of date, they have not been releasing code for a long long time as far as I know.

Which of course means they are not decentralised, they are centralised; no one else can keep the bugfixes etc coming if they choose not to, nor even check what they are really doing under the hood.

But its legal, and every once in a while rumours are briefly encountered indicating some idiot(s) somewhere actually use it.

-MarkM-

Perhaps we are stating from the wrong assumption.  Doesn't a software developer make money from selling or licensing their software? If your coin is so much better than the free alternatives, charge $ for the software. Then you will get paid for developing software. If it's not better than free alternatives and no-one buys your software then at least you know.

The problem is that BTC set a precedent that the software would be free, and in reality it's the "best" coin out there. Trying to charge for something that has a better free alternative will always be very difficult.  People will surely ask "why should I give you money when I can use a different coin and not pay anyone".

I would suggest if you can't sell the coin do a pre-mine and dump when the value is acceptable to as a payment for your work. New coins need marketing people more than developers. The question should be how can I make money from marketing my coin.

Much better than making yet more new coins is pick some old one that is insanely low difficulty such as Fairbrix or CoiledCoin or GeistGeld or whatever others that aren't sprining to my mind right now, mine them quietly for however long it takes you to build up a nest-egg you think will be a decent wage once you have brought the coin up to date and back into the limelight, then instead of cloning a more-recent code version to some new name, simply clone whichever of these old coins you have racked up a nest-egg in.

It is surely no harder, and probably much easier, to cut and paste something to make a newer more up to date version of one of these than to cut and paste to make some previously unheard-of coin.

For example i0coin and geistgeld both are crappier code than groupcoin, but are basically identical to groupcoin except for port, name, IRC channel and so on, all the things the cut and paste kiddies cut and paste to make a previously unheard of coin that they would have to pre-mine to equip themselves with a nest-egg of.

Plus all these old coins come equipped with lots and lots of holders who will be eager to jump aboard a newer client that doesn't crash daily (i0coin) nor eat massive amounts of RAM (i0coin, geistgeld) nor use some weird config file and data directory setup (fairbrix). Just like BBQcoin's old time users jumped aboard and brought it back into the limelight, the same can easily happen with other long-established coins that have gone through a long phase of allowing even the smallest miners to easily mine them. (Has anyone helped the small miner more than BBQcoin did? Other than bitcoin itself back in the day?)

(Fairbrix you'd take the newest litecoin, maybe wait for a new one to come out first even, and cut and paste from that.)

Heck, i0coin used to be on bitparking's mmpool, my acount there still has my wallet address for it, clone a client for it from groupcoin and very likely it'll go back onto bitparking, and heck maybe their exchange for it is still sitting waiting for its comeback too..

-MarkM-

For those not planning to (or not able to) add any new features, this is a fine idea. 

You can add new features too. First just update the client get it on exchanges to raise cash to pay for adding more nifty stuff to it...

-MarkM-

The problem is the A sic issue, most of us are gpu miners. So most would go for scrypt. 

Then you don't get it I think.

1) Pick up shitloads of the coin really easy because all the big farms consider it beneath their notice.

2) Bring it back into the limielight.

3) Whether its all the massive GPU farms or all the massive botnets or all the massive ASIC farms that jump on it you don't care, you ALREADY GOT YOURS.

TL;DR by the time the ASIC owners jump on it they'll merely be making your stash more valuable. The plan is not to mine it once other people do, the plan is to mine it now while almost no one else is, then only once you have your stash of it do you bring it to the limelight for others to jump all over it due to the new client you put out for it or whatever.

Personally i have been content so far to wait for the merged mining patches to be applied to an up to date bitcoin rather than bother hacking groupcoin to make fixed i0coin and geistgeld simply because the longer that takes the larger a stash i will have when it happens. as long as difficulty is low there is no hurry, in fact the longer it takes the larger the stashes the people mining at the super-low difficulty will have come the time for payday, and maybe also the more actual individual people it will be that will have benefited from all of this by getting in there while the difficulty IS low.

(Basically this is huge opportunity for small miners, because they might have a long long time yet of being able to mine at insanely low difficulty before the big farms jump in and oust them, by which time they will already have their stash and be looking forward to being ousted aka to payday. As I have mentioned before, BBQcoin already showed this in action. It is awesome for the small miners who take advantage of the large miner blindness-to-low-difficulty-chains-not-on-exchanges by getting in there and mining before presence on exchanges causes the big miners' scripts to notice "holy cow that is insane profit I need to rape that"...)

As a small miner what you need are chains that are insanely low difficulty and not on exchanges, because if a coin is not dropped by exchanges when it is low difficulty the scripts looking for most profitable coin will notice and have the big farms jump all over it, driving the difficulty way up until it is not profitable then abandoning it. And not newly launched, because even the most shitty crapcoins of all get jumped on at launch still despite or maybe mostly because everyone knows they are pump and dumps so they all need to pump fast to dump fast.

-MarkM-