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I see a lot of references in the announcement post about certain events occurring when the exchange from CAI > CAIx is complete. I'm assuming this means when all 1.6 million CAIx are gone on CoinSwap. My question is, what if this never happens? For example, someone forgot about their CAI in some wallet and never make the exchange.
If this turns out to be the case (which is very likely), will this prevent the switchover to CAIx on exchanges and such? Also, in the ANN post it says that mining will end on 5/18. If there is still CAIx left to be exchanged on CoinSwap will mining of CAI continue? Will there be any sort of time limit on making the switch on the coins? If that limit gets hit and there are still CAIx leftover does that mean the total supply will actually be LOWER than 1.6 million?
If this turns out to be the case (which is very likely), will this prevent the switchover to CAIx on exchanges and such? Also, in the ANN post it says that mining will end on 5/18. If there is still CAIx left to be exchanged on CoinSwap will mining of CAI continue? Will there be any sort of time limit on making the switch on the coins? If that limit gets hit and there are still CAIx leftover does that mean the total supply will actually be LOWER than 1.6 million?
I think that they will put 1.6 million CAIx on coinswap, people will exchange their CAI for CAIx 1:1, if people who have forgoten about coins they have mined then they will be out of luck as people will be mining CAI right up until the point that the last CAIx has been traded from Coin Swap, anyone with CAI after that will be sad.
I would agree with you, as that method totally makes sense. But this section from the ANN makes me wonder if that won't actually be the case.
Quote
Mining of CAIx in PoS will start today 8 hours after release.
Mining of CAI will cease sometime around 5/18/2014.
The only way to obtain CAIx is by mining CAI and changing to CAIx on Coinswap.
Or purchase CAI from the following Exchanges and changeing to CAIx on CoinSwap.
Mining of CAI will cease sometime around 5/18/2014.
The only way to obtain CAIx is by mining CAI and changing to CAIx on Coinswap.
Or purchase CAI from the following Exchanges and changeing to CAIx on CoinSwap.
If the 5/18 date was listed just as an estimation of when enough CAI will have been mined to convert all of the CAIx then that would make sense also. Either way is fine, just looking for some certainty. I need to know if I need to start looking for a new coin to mine, or if I can mine CAI till the CAIx runs dry.
