We are just going in a different direction to SPR. All the development currently within SPR has a two year history but we've reached the point of divergence. The two projects have different paths, but they will still both exist.
Just to clarify, I do understand that SPR development will be continuing. I wasn't suggesting a burn of SPR in the sense that HLM would be replacing it. After all, even if all but 1 SPR were to be burned, the blockchain will continue chugging along.
The point of my idea was not to harm SPR at the expense of HLM. I felt my idea was mutually beneficially for both coins, and in a strictly economic sense it almost certainly is but......
Also not in favor of burning spr to obtain hlm. it introduces competition from the onset between the two projects and effectively divides a community.
This did come to mind. Many of us get so caught up in the technical stuff around here that we forget a strong community is just as important, maybe even more important, to the success of a coin. Perhaps shaky and wild SPR/HLM markets in the short to medium term are a small price to pay to ensure the entire SPR community can participate in this.
Why not just set a future block and use that date to determine all SPR balances (ignoring all transactions after the selected block height) and have people sign their addresses to prove ownership and claim?
This requires manual work but latecomers could claim as well because it's clear to prove past balances.
A full snapshot would probably be the best solution but what would happen to exchange addresses with lot of coins?
But with manual swap the devs would have to also hold a huge amount of coins waiting for swap which some might dislike.
Yet another reason I dislike the idea of a manual swap. The escrow will be holding massive amounts of coins for a very long time. He maybe a "trusted" escrow but trust only extends so far when it comes to anonymous BTCtalk accounts and serious amounts of money. I'm just going to pull some numbers out of my ass to illustrate my point but what if HLM pumps to a $10 million USD marketcap one day, and the escrow is still holding like 20% of the coins? Are we going to trust the escrow with $2 million USD worth of coins? What if he goes rouge? What if he dies in a freak accident? What if his computer gets hacked? If you were a serious investor just hearing about HLM at this point, would you want to invest anything more than chump change with all these "what ifs"?
Just in case we need yet ANOTHER reason to illustrate why a manual swap is an unworkable idea, I was just looking at the SPR rich list on the block explorer.
https://chainz.cryptoid.info/spr/#!richThe top 1000 addresses hold 6,985,424 SPR, 92.05 % of the current supply. The entire 7,589,015 SPR coinbase, 100% of the supply, is held in 105286 different addresses. Plenty of those addresses represent lost coins, dust, coins that will never participate in the swap, etc. but it is still reasonable to assume that by the time the swap is done the escrow would need to manually process thousands upon thousands of transactions. Does the escrow really understand just what a pain in the ass this is gonna be? A year from now, he will still be manually processing 50 SPR transactions from nickel and dime traders who find an old wallet on their laptop.
A manual swap without a snapshot won't work (will be massively abused). A manual swap where the SPR holder has to send his coins to the escrow won't work (exchanges WON'T participate and even individual SPR holders maybe leery of it). A manual swap where individuals need to sign their addresses won't work because it could potentially include 105286 different addresses! Exchanges also won't participate in this scenario. Bittrex is not going to have someone spend hours manually signing every SPR address that belongs to them.
No one wants to do a burn. A manual swap is not a workable solution. At the end of the day, you are going to have to copy the CLAMS/Byteball model for distributing coins if you want to do this right.
You're my kind of community member. Ready to pitch in ideas and make the effort to explain your view.
Thanks. I've always thought of myself as an "idea man" Basically means I have no technical skills and can't create anything on my own, but I am good at telling other people what they should do and criticizing their work.
