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Thanks for the input. Currently, we have begun testing an implementation of LWMA difficulty algorithm -- See-> https://github.com/zawy12/difficulty-algorithms/issues/3 for full information on LWMA.
This alone may not prevent all issues with mining whales coming in and out, but greatly diminishes them compared to our current diff retarget algo. We will be implementing it as long as the tests go well, which will activate much earlier than any change in regards to pos-only state, and if it is effective enough to prevent issues maintaining block time stability and pow/pos ratios, it may change the overall users opinion on which direction to go. At the least, pow would not be deactivated until a few to many months in the future. We will attempt to see how well LWMA prevents massive hashrate changes, and take it from there for now.
This alone may not prevent all issues with mining whales coming in and out, but greatly diminishes them compared to our current diff retarget algo. We will be implementing it as long as the tests go well, which will activate much earlier than any change in regards to pos-only state, and if it is effective enough to prevent issues maintaining block time stability and pow/pos ratios, it may change the overall users opinion on which direction to go. At the least, pow would not be deactivated until a few to many months in the future. We will attempt to see how well LWMA prevents massive hashrate changes, and take it from there for now.
LWMA sounds like it will fix the issue with people coming in and out.
I think another much bigger concern of people who are against POW is that entry to mining is prohibitive to most because of the need to buy very expensive ASIC mining hardware (we are talking about $5000+ vs existing CPU or GPU). CPU/GPU mining opens up mining to the masses so to speak and that is far more likely to get support of the average IC enthusiast. Even with GPU, a lot of people will have one that they use for gaming and can re purpose t when they are not using it for gaming. Yes there will be farms of these too but they are far less pervasive and people still seem to make a reasonable return with these.
For GPU, I suggest Phi or Phi 2 because of the lowered power requirements but and GPU only algo would be welcome. for CPU, perhaps the algo used by Monero and its various derivatives, simply because this is very popular and well tested and gets regular updates ensuring that and attempts to use it with ASICs are thwarted.
Please consider changing the POW algo for a CPU or GPU one and run it for awhile. If we can do this before any switch to POS only, I think you will see people warm to it. Plenty of other coins run POS, POW and MN together and the users are happy with the POW staying.
I am really worried that without POW, we are going to see a considerable loss of value. Please consider my alternative of using CPU or GPU algo instead.
ASICS go for $1500 for 620MH (700MH Overclocked)at 750 watt. Having the best difficulty adjustment is king no matter what. Its profitability code that are finding these weaknesses, the best way to combat is with good difficulty code. GPU/CPU/ASICS all have profit pools that auto pay in your desired coin. SCRYPT in the short to medium term for this coin is a good choice.
