And that's why I was wondering if the powers in charge had mapped out the halving to see the impact.

Well one thing is for sure, the block reward drops exponentially, while the time required to circulate potcoin increases to the moon. 653,000+ years , give or take an epoch. I wonder how many folks will be interested in mining when it's producing 1 coin a block within 2 years. Or even 50 coins per block this year.

So I'm wondering if you guys mapped out the blockheight / circulation across time, when you made this decision. I have, and I'm wondering who's going to pay people to keep the network going beyond 2014, unless each potcoin is worth a significant amount of money. You need hashrate, and lots of it, to secure the blockchain.

Based on rough mapping of the new halving schedule: By the end of 2014 the coin, "for all intents and purposes", reaches 99% of its total useful circulation, under 170M coins. 2015 will mint around 8million more coins. Beyond this, it's dead, and will never reach 420M circulation in anyone's lifetime.

Unless of course you had planned to change total coin production, block time, and other figures -- and just forgot to mention it. And even if those variables are changed, with such a rabid halving schedule, the coin value has to skyrocket by unprecedented levels never before seen (which seems to be the mantra lately), in order for the network to even be paid to secure the chain.

Just kindof wondering if the executive management team had examined this when they gave 2 thumbs up.

Well how about you update everyone and only ask for payment after you have chips, and after they've been worked up to show that the hardware is working right. Then as payments come in, let's say a time window, you have time to build the systems.

I've watched other ASIC companies do what you're doing, only to end up with dead chips or wafers which far underproduce spec, and people were out of money.

So what you're saying is, you haven't even taped-out yet? And you seriously expect to ship within a month and a half, which is normal time for tapeout?

Dear community, I urge you to stand by this: No tapeout, No payments.

UNLESS they can provide sufficient proof of tapeout completion.

Not for too much longer I'm sure.

LOL

10%.. shoot.. it's halved overnight lol. I agree, "on the ground development". I've been pushing this for awhile, which is why I'm waiting for potcoin to respond to my post.

And what you describe, is what dopecoin is doing right now.

In the end, one has to ask "what does this do, that bitcoin doesn't?". As of now, I see nothing, and people are already using BTC in the MJ world.

You're missing one  major factor: There's no requirement for potcoin to be of any particular value. This isn't a stock program. This is a monetary transaction shifting system. The value is set by pure speculation.

And if say 2 or 3 merchants pop up and say a gram of grass will cost you 10M/pot, well now you at least have a price point. Could talk for hours about this, but I'd rather hear from potcoin, particularly on my inquiry on the previous page.

I didn't even realize there was a demand for the supply, with the vanishing buy orders on all exchanges and everything. Wouldn't demand mean you have merchants on the ground?

Plus, my question to potcoin relates to creating demand.

You mean KNC quality, like the destroyed units showing up on folks' doorsteps, the coolers bouncing around inside like shrapnel?

Well either way, it was slashed. It was evident something along those lines was going on.

Could you address my question on the previous page near the bottom?

Someone could be forking the coin with lots of hash.

PotCoin, is there a business plan brochure / overview / "point of sale" package, which you have put together? I presume you'd have this since it's part of your job, and you kindof need them if you're trying to get accepted in stores.

If you could provide it to the community, it would probably help spread the word and educate storefronts.

I'm sure I don't have to explain to you what this is, and you already have them ready.

They'd be ordered to pay back money and/or divide the current mining center up among the people who funded it. In other words, people would get what they deserved this whole time, and the hashrate wouldn't go up so you'd have a slight bonus relating to difficulty. And good riddance, do you really want them around any longer? They clearly don't care about the movement as much as their personal profits.

What's to say their ultimate goal isn't to crash bitcoin, and prop up another currency of their own?

^-- Totally on point.

I've honestly never understood how folks at BFL and KNC go about their daily lives, and DON'T have contracts on their heads, much less legal battles going against them--especially KNC. It's surprising to me really. Seems like people here just get angry and bitch, but what if everyone got together as a collective and outlined the legal issues with KNC and then found a lawyer?

While I haven't looked at BTC38 lately, if they have dropped noticeably in price it would be a point of interest because historically that's been the most volumous exchange for TAG. Does anyone have charts showing history?

So then has tapeout completed? It would need to be done no later than the end of May (ie, in your hands before June) to really meet a safe July schedule.

Well lots of folks sure do feel strongly. For what it's worth, if it was US-based or managed by US citizens, they can be held liable in court now that the IRS has deemed BTC and cryptocurrencies to be property.

That's poor business practice. Clarity, continual communication, and openness about the plan and direction are critical to a crypto project like this. You're talking to a community which is based on these standards, and you act shocked when people expect the same of you?


It's probably because most of the worthless coins pop up on BCT and people have grown wise enough to recognize the pattern of a worthless or potentially scammy coin project. Which is why I immediately requested to know what your business plan was/what made your project different. Your answer was no different than the white-noise provided by most others.

In fact to date, the only thing unique or interesting about your project has been your website. It looks nice.

You've been asked to provide us a list of these merchants which you continue to claim are ready to take surge as a payment system. So please, list these merchants that we might contact them and evaluate what they have to offer. And by merchant, we mean people ready to take surgecoin directly, not using a 3rd party payment system.

In other words, I can use bitcoin to make purchases all over the internet. What can surgecoin do that bitcoin can't?


I've never trashed you, I've challenged what you said and requested more openness. All you do is provide damage control and rebuke people who ask you questions. You make burst announcements and then delay the result. You dissapear for days at a time. If my pointing this out is seen as 'trashing' by you, then are you really in a position to manage a serious business project? You wouldn't last 17 seconds in a chairroom meeting.

Don't stand up a project on BCT unless you're willing to manage it. BCT is a haven of miners, many of them are lurking and never saying a thing. I, and folks like myself, are their voice. Your answers are critical, as is your attitude.  As the PotCoin project recently found out, by making poor choices and failing to follow through with their words, the community of BCT users who support them turned against them. Their coin is now multiforking and the price has dropped drastically. I doubt it will recover.

The community of serious miners on BCT is very critical and for good reason. They have nothing to prove. You do.