Hello,
I have read the whitepaper. And although you have redirected questions to the Discord I am going to send them here, because our communication started on here.
To keep everything open and transparant I think it is good to have all answers out in the open.
I think the following questions will be similar to those of other members of the Sprouts community and therefore important to have answered with most detail.
1) You mention that you will first have a round of questions and then will have a community vote. Where will this community vote be held? Is this community vote open/accessible for all people of the Sprouts Community? Is the vote binding (so, if the community says "no" will the hard fork be cancelled)?
2) An hard fork means you will be forcing everyone holding Sprouts to get onto the new chain. Otherwise they will lose connection and will not be able to trade their Sprouts. How will you make certain this information is wide spread? How will you make certain that there will not be confusion on which Sprouts are on the hard fork chain and which are not? Worst case scenario people will buy old Sprouts on one exchange, that is not affected by hard fork implementation. Conclusion: buying a coin that is not officially tradeable as Sprouts.
3) I do not think the new reward is fair.
Scenario: someone sets up 1 million accounts with each 1000 Sprouts. This would mean someone will have more accounts trying to win the reward. However someone with 1 account with 1 billion Sprouts has the higher probability you could ask yourself if there is enough certainty to say the network will stay as fair. I do not feel it is fair that someone with 1 dollar investment can reach the same amount of reward as someone with 1 million dollar investment. I understand the probability is higher, but PoS (proof of stake) originally works: the more you hold, the higher the stake, the higher the rewards.
4) From the whitepaper I still do not have a clear idea how Sprouts dev team is going to create this high of a demand to pump 8 trillion Sprouts around. It is already hard enough for coins with 100 billion supply to increase value. And these coins normally have millions of funds allocated to marketing, research, etc.. How is Sprouts going to accomplish their goals with this big of a disadvantage?
5) You even state in you whitepaper that Sprouts will be worth more. I do not see this happening, not significantly anyways, without significantly lowering the supply. Supply and demand. There is far to much supply and far to little demand. In line with question 4, from an economical standpoint how does the team approach such matter?
Thanks for your reply.
All the best with the project.
Thank you for your interest in Sprouts. And sorry to have taken long to answer very much.
1)
The voting method will be announced at the time of voting.
We will prepare an environment where you can vote for as many people as possible.
If you are a member of the community, you can vote.
We are thinking about a fair way as possible.
If it is rejected, we will not do hard fork.
2)
We have already contacted CoinExchange.io. They promised to replace their wallet with the new version before the hard fork. If a lot of nodes don’t update their wallet after we release the new version, we will announce about the hard fork again and alert you to the danger of not updating the wallet.
3)
Although it is also listed in FAQ, dividing at 1000 SPRTS is not a correct strategy, as the probability of compensation is determined according to the holding amount.
Total rewards for 1 dollar investors and 1 million dollars investors are different.
The current reward-system gives twice the benefit potential as the probability of compensation and the rate of reward amount, so we feel current rule is not fair.
The community will decide whether the specification after the hard fork is fair or not.
4)
We do not think the large amount of total issuance as a problem. The problem is that the increasing amount and demand do not match.
Rewards are drastically decrease this time.
Our mission is to create demand that is commensurate with remuneration.
To have no funds is certainly a difficult aspect.
However, through community activities, we have been developing new functions even without funds.
Whether a project without funds can not succeed, the answer is obvious if you look at the open source project in the world.
5)
Please refer to answer 4. What we need is to match increasing amount and sprouts demand.
Please expect the white paper in June. we will announce what kind of approach to make demand.
That's all from us. Thank you.
Sprouts Official Development Team
