I think that solution have been already developed. Make a normal coin on sha256 or scrypt and let people mine coins, then you shall assign number of coins in the old coin blockchain to the number of coins in skycoin genesis block. This should be more fair than creating another scam like ripple or nxt. I think you can do method of generating priv addresses the same as in the old coin. So what you'll have to do is just type in your priv key in skycoin client.
Problems with mining
- in CPU coins, all coins go to people with botnets
- in GPU coins, all coins go to people with GPU farms
- in SHA256 coins, all coins go to people with ASICs
- mining gives all new coins to a small cartel of already wealthy miners
- most miners are invested in coins for the short term and not really part of the community
The vast majority of mined coins today are extremely well organized pump and dumps.
THIS IS A SCAM. I WANT FREE COINS.I wont address criticisms by two week old socket puppet accounts which are pumping Catcoin.
Anyone can read the Skycoin source code and determine if Skycoin is a scam.The exciting thing is not where the coin is today, but what it will be.
How are the coins generated, and how will people be able to get them???
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