There is a need for more members of this community.
There is a need for innovation and something that will make people want to invest in the coin.
GoldCoin is the best name that you can ever have.. But we arent doing much with it :/
I got a few suggestions that might be able to help Goldcoin out.
I have written a Private message to MicroGuy and I am expecting an answer within 24 hours or whenever he has the time to answer.
It would be good if you could explain here about your suggestions and then hopefully the community can join in on the discussion, we are all here to help and all suggestions are very welcome. Goldcoin has the best name like you said and when you think of digital gold, goldcoin is the closet to that, bitcoin is going to steal the headlines because of its value but really if you want adoption worldwide by people who don't even know about crypto currency explaining goldcoin to them is alot easier and sounds a lot better. If were moving into a complete digital age with people investing into crypto currency then anything with to do with gold is going to play a big part and Goldcoin defiantly has a place of being up there with bitcoin.
But as you might have figured out, then you can see that new people arent comming to Goldcoin.
We can get business's to add goldcoin as a way to pay, but that still limits us since we dont have any new users that will make the value of the currency go higher nor that will make others use it.
We need people to start investing and holding goldcoin so that value can be gained.
People at this moment just mine and dump the coins.
LitecoinDark that I am investing in bigtime has the same problem. We have made a change with making the mining reward extremely low so people wont just mine it to sell it. It wont be worth it.
Then the only way that coins can be obtained is by buying them from an exchange.
Maybe even PoS would be good for GLD. But with 1% only so it wont inflate.
Firstly Goldcoin isn't being mined and dumped, I've traded more then anyone in goldcoin (and from the very start), and it definately aint being mined and dumped, half the problem is lack of liquidity, ie very very little traded, its mostly mined and hoarded.
Now as for POS that would be the single biggest mistake you could make with these older pow coins, yes many panic and go it to generate some interest but at best thats shortterm flavor of the day interest, any that go that road will suffer longterm.
Changing from POW to POS breaks one of the fundamental principles of cryptocurrencies as introduced by bitcoin (the trustless system) though thats lost on most the quick profit crowd these days.
Who is talking about removeing PoW completely?
Making a combo with PoW and PoS would make people hold the coins that they mine.
PoS would maybe be good for GLD, maybe not.
I was the one who accedentally pumped and dumped GLD back in November/December.
GLD was my first Crypto coin that I invested in.
I have been working with this coin a lot. Its just a long time ago.. And seing no change in price other than its going down makes me a bit sad since it was a good memory.
But the coin cant become something unless it changes and meets a demand.
There is no reason to change GLD completely, because then it would not be GLD. But something needs to happen or else it wont become anything.
There is 30 million coins mined, and 32400 coins are being mined pr day.. But that requires 243,9$ pr day (381$ pr BTC) of total buy force to take that amount of coins and let the price move freely.
But todays market volume is only 210$. That makes the price go down, and it also shows that there is almost no intrest.
GLD needs a fix. It needs new people and new investors.
Something needs to be changed, no one in their right mind would get into a coin like this with over 30 million coins mined and start buying coins to hold and hope for the price to go up. Someone would instantly dump a ton of coins and the price would fall again.
Maybe something different needs to be done.
Like taking away 75% of the coin supply and hope that will make it easier.
Litecoindark might do that. It has been talked about, but nothing is set in stone.
What I mean with doing a 1 : 4 is by doing a hardfork of the coin, and replacing the coins with new ones instead. The value will go up, but the coin supply will go down.
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