Bitcoin Forum

PoW is currently stopped at block 10000, leaving only ~400,000 coins in circulation plus 50,450,000 currently being held. How should we move forward? A fix has already been developed, but do we want to implement it?

1) Make mandatory updated wallet that will continue PoW in 1-2 day's time to give people time to update
Pros: Coin will work as promised/intended
Cons: Have to wait for new wallet to PoW mine again

2) Stop remainder of scrypt PoW, make coin purely bounty and human mining (max coin supply will drop to about 51.05 million)
Pros: GOODs already earned will not be lost
Cons: scrypt miners will no longer be able to hash for GOODs unless we create a multipool

3) Kill the coin, fork a different coin, and relaunch GOOD
Pros: Coin will work as promised/intended
Cons: Last 6 days of hash/work/clicky would be for nothing

4) Stop remainder of Scrypt PoW and destroy remaining premine, only PoS will generate new GOODs
Pros: Early adopters will benefit greatly, only 300k-400k in circulation
Cons: No more bounties to pay out, so likely also no more new features

5) Other - please explain - Such as readjust the rest of PoW so that it plays out in 10 days like the colorcoins do

Keep going as planned but maybe give more than 1 to 2 days for people to update wallet.

You should make the cons for 1 that you can't mine for 1 - 2 days instead of none.

My vote for Option 4.  (Less coins, more value).

5. Other.

Split the premine in 2, allow mining of half the premine via multipool @ LTC, use LTC profits to hire DEV to intergrate other half of premine into human mining game.

Then we have a human mining PoS game!

Oh, raise interest to 3.5% if forked.

G.

Oh, this way we have already built a functioning multipool habbit which we will want post PoW anyway. Keep it off a digital exchange until it is mined out, this will discourage short term speculation.

This would be a great idea if someone here knows how to set a multipool up and is willing to do it. From what I understand it is no simple task, but if you know someone who can help please let me know.

Sadly not, but if the community chose to go down this route then I'm sure a deal could be cut for a pre existing pool to add this or we could try in the Pool (https://bitcointalk.org/index.php?board=41.0) or Services (https://bitcointalk.org/index.php?board=52.0) forums for a programmer.

Upon consideration, defiantly try one of the btc guys. It doesn't need to be competing with their pools, just point it at litecoin and get the job done eh?

Also neatly solves the mining price setting issues.
say you distributed 1 million GOOD in 1 week to 100Mh/s, the price of GOOD is then the opportunity cost of not mining LTC, data which we would have access too!

The price is then set at:

1 million GOOD / (LTC output from multipool) = GOOD per LTC.

Hash goes up, LTC out goes up, price goes up. The reciprocal being true. Everyone wins :D

G

a wallet update this early is NOT that big a deal guys!!!

seriously! 

I voted for number 1 before I read this. This is a great idea and something genuinely new. It also keeps with the spirit of trust and good will. I want to change my vote to this!

You can change your vote,  it gives you that option to.

Edit: Nevermind,  this poll doesn't have that option.

voted

If one should compare Mintcoin (launched early Feb) vs. Blackcoin (launched 01 March?) it really looks like the coin with the lesser max coin value is doing far better than miner dumping another coin to death.

My vote: # 4 Less coin.

We are going with option 1 due to popular vote. wallets have been updated on main thread, and PoW will resume 5/6/2014 at approximately 12pm Pacific Standard Time (block 19295).