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Author Topic: The End of Alt Coins  (Read 3418 times)
DeathAndTaxes
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October 17, 2013, 04:15:08 AM
 #61

One of the reasons why it would be so hard is that Proof-of-Stake is not possible with a fixed limit for the amount of coins like the 21 million limit of BTC. A PoS coin would increase its supply infinitely. One can achieve some stability in coin supply by destroying transaction fees (like PPC) but a "hard limit" is not possible.

Of course it is.  Just because PPC chose not to go that route doesn't make it impossible.  It was a design CHOICE not a requirement.
The security model is based on coins (coin*days), it needs some coins amount to function properly. Non-deterministic supply is not a choice, it's a security requirement. Otherwise there will be no protection against massive coins destruction/lost wallets/whatever, i.e. no security in the long-term.

It isn't a requirement.  How about coins have to be moved within so many years (say 10).  Coins that aren't are deleted by the network and respawned as new miner rewards thus keeping the pool of coins available for stake relatively constant.   That is just one idea.  It isn't an absolute requirement.  The creators even stated so.  It is just one solution to the problem.
r3wt
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always the student, never the master.


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October 17, 2013, 04:29:20 AM
 #62

Death and Taxes knows so much about crypto, i wanna see him make a coin. hell i'd mine it as long as it isn't scrypt based.

My negative trust rating is reflective of a personal vendetta by someone on default trust.
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October 17, 2013, 04:40:13 AM
 #63

One of the reasons why it would be so hard is that Proof-of-Stake is not possible with a fixed limit for the amount of coins like the 21 million limit of BTC. A PoS coin would increase its supply infinitely. One can achieve some stability in coin supply by destroying transaction fees (like PPC) but a "hard limit" is not possible.

Of course it is.  Just because PPC chose not to go that route doesn't make it impossible.  It was a design CHOICE not a requirement.
The security model is based on coins (coin*days), it needs some coins amount to function properly. Non-deterministic supply is not a choice, it's a security requirement. Otherwise there will be no protection against massive coins destruction/lost wallets/whatever, i.e. no security in the long-term.

It isn't a requirement.  How about coins have to be moved within so many years (say 10).  Coins that aren't are deleted by the network and respawned as new miner rewards thus keeping the pool of coins available for stake relatively constant.   That is just one idea.  It isn't an absolute requirement.  The creators even stated so.  It is just one solution to the problem.

Ideas are great, how about a reference implementation Wink

MAbtc
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October 17, 2013, 05:22:45 AM
 #64

I think we all know that many of the clone coins -- which represent most altcoins, really -- won't last. But I have to think that a few will stick around. LTC, PPC, maybe XPM, who knows. It's a lot of speculation at this point. But the end? Nah.
ethought
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October 17, 2013, 05:37:26 AM
 #65

go buy some BFL asics if you really want to mine something.

haha - I almost took your post seriously...  Wink
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October 17, 2013, 05:49:26 AM
 #66



I see. Interesting... So you are saying it goes UP and DOWN and UP and DOWN and UP and DOWN? A remarkable insight indeed!

Of course the orange arrow only goes UP and not DOWN. Because. It. Is. Orange. Correct?


Well that dirty great big Orange arrow is a trend line and in this case it is heading up. What's the PPC community like to support this trend or is this just speculation?
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October 17, 2013, 06:13:59 AM
 #67

there are just too many altcoins. also, the price is dropping due to the high bitcoin price
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