SICkle

Серп - близко к оригиналу, а имя не описывает свою функцию.

Извините, если этот язык плохо (Google Translate)

I'm mining this coin - the reward being a factor of the difficulty means not many have been created. Its also a good hedge against any adverse deflationary effects most other coins are exposed to.

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@bnogal the neural network idea is a really interesting but I think the system needs to be deterministic so that people understand. Neural network / pseudo random elements are mean the users need a lot more trust in the implementation (it's a lot harder to verify).

I think the mining difficulty (while not an exact match to exchange rate) is a strong and correlated signal of exchange rate. In addition it is easily obtainable / calculated for all miners in the system. 

@rayt5 - thanks for the first constructive criticism of this thread! Yes the difficulty is a lagging signal but I can't think of any predictive ones (if I could I'd be trading bitoins!) The aim is not to have a completely flat exchange rate but to as far as possible avoid the massive price spurt then pop scenario that Bitcoin has been going through.

@chriswen - not the exchange rate but the mining difficulty (which in this instance is being used as a measure of the coins popularity).

@bnogal - thanks for your suggestions. Regarding the transaction fee the only thought I had was having it in place is a (minor) incentive to hold onto coins. Whether that turns out to have any significance or 'spammy' transactions are a bigger concern is hard to say. Fortunately there are lots of test cases being conducted at the moment so it might soon become apparent!

@Este the idea would be to have the reward be a factor of the mining difficulty. I'm modeling with N^1/2 to make sure Moore's law and  mining improvements don't flood the system too much.  

@Temor - yes the coin borrows heavily from work already done but the properties are significantly different. Bitcoin is a brilliant piece of work but the 21 million limit is considered by many people far smarter than me to be a problem. All other alt-coins I know of have this property or all the coins are controlled by a central group (happy to be corrected as it will save me lot of coding).

As the price goes down, the mining will slow, reducing the supply of coins. The aim is to hover around an inflation rate that keeps the price stable but shouldn't necessarily lead to it dropping to 0. I know most other coins are designed on the principle that inflation is terrible but I disagree.

I can't quite tell from your bolding which piece you disagree with.

The chain of events

price increase --> mining interest --> increased reward -->  price decrease = more stable currency. Which part is incorrect?

Guiding principles of EM Coin

Having an even distribution of coins is better.
How?
PoW (scrypt) is used and the coin generation is only very slightly weighted to the early adopters to enable coins to be distributed to 'the masses' rather than a few early adopters or those with specialized hardware

Supply adjusting for demand is better.
How?
The mining reward is a factor of the PoW so if the coins become popular, price goes up, more miners will join, reward will go up, more coins will be introduced introduced stabilizing the price. If the price goes down the opposite will happen

Less centralisation is better.
How?
litecoin PoW used to keep the majority of the mining power away from the centralised groups for as long as possible. Should PoS be used to this end as well?

0 transaction fees are better
How?
Mining reward keeps these unnecessary, possibly a minimal amount could be introduced to keep away 'spammy' transactions if they become a problem

There is enough great work done by many people to enable a coin with these properties to be built with little effort and a meagre amount of skill. The currency would be as close to a boring public utility as possible and not
a speculative instrument to reward early adopters or traders.

Feedback?

Maybe post a source so we can at least know what you're referencing. 'I read somewhere on the internet.. ' is a little vague.

Ok. Thanks for that I'll keep hitting the 'Help Desk' button.

  I've been waiting on a transfer out of Cryptoxchange for about two weeks now. Does anyone have any similar experiences? Is this a regular thing?

Thanks

Did you get any responses to this?

Yes please. I've traded on cryptoxchange and mtgox for about 6 months now, have some real questions about the exchanges that i'm being limited from asking.

First post - hi everyone.