What do you think about working some POS into this coin? To encourage hoarding and not dumping?
We are considering it and will release a large info post on the tech of NobleCoin and our thoughts going ahead into 2014. To sum up the majority of the PM's we get however I'll try and do a simple and short piece here.
In terms of
block halving: DOGE has now shown us what we expected, it simply creates an artificial pump, miners leave en-masse and the difficulty/prices drop back down when the huge expectations aren't met. There is a group-think going on that block-halving GUARANTEES a long-term increase in investment. We personally do not feel this is the case, as many others are beginning to now. If this changes, we will introduce it at 6 or 12 months.
PoS (MINT being the latest example): What we are concerned of here is you have a massive pump early (especially when a character like Wolong is involved) with everyone believing long-term guaranteed gains on interest. I might be wrong here, but if we have a bunch of hoarders and no new miners, where is the continued interest? Where is the fresh blood? Where is the spending and circulation of the coin? And who then wants to spend all the coins they've hoarded on continued development and promotion? Cryptocurrency should not be just an investment vehicle. We want to increase value by increasing DEMAND, not reducing supply. We will be watching MINT, and while I'm no sage I'm expecting a massive dump before PoS kicks in.
N-factor (VERT): I love VERT, I love the community and I love the innovation. What my question regarding n-factor is what if ASICs massively increase the difficulty and thus the price of coins they sit on? If the demand for the coin is there, the price will follow. Look at what happened with BTC. If ASICs become mainstream later this year, all the early adopters got plenty of coins at low difficulty. The difficulty and security of the coin then skyrocket, and perhaps so does the price.
DARK: We are concerned anonymous coins that promote complete anonymity and protect illegal activity (though I am in no way implying that is all they are for) will get a lot of heat or even made illegal as crypto becomes mainstream and laws/regulations attempt to be built around them.
You have to remember there have been some very large whales involved with certain coins. The rise is not just because of the technology, although it plays a part. Huge gains have been met with huge losses as coins, whether the hype is justified or not, get dumped on at critical points. Players are not just speculating on coins, they are speculating on technology. It does not mean it will pay off. These are the 'big four' we are watching, and I'm more than aware our views and opinions on them might be wrong. It is something we will consider when we do our first large upgrade.
Right now, we're focusing on brand, on services, on ideals and visions, on trust and on community. With all the focus on technology, many seem to forget that a coin can, will and does fork or upgrade when necessary. And many that survive 2014
will. We want to build something that lasts despite the technology. The trust and faith in a brand, coin, community and group of developers and supporters is something that requires a lot more hard work. Perhaps I am looking at it too much like a marketer and not an investor or developer, but many of the community members have gotten on board for the same reasons.
I hope I am not appearing too disregarding of the technology, but there are just so many 'ifs' and 'maybes' involved. I'm not denying coins like VERT and DARK have done extremely well and I congratulate them, but nothing is certain long term (not NOBL, not DOGE, not VERT & DRK, not even BTC) and it is not just the tech that plays a role here (DOGE for example, was a social coin pumped just the same way and then embraced by the internet). I will be working personally with a developer dedicated entirely on source and wallet upgrades, but right now we're trying to make NOBL something more than innovative technology.
I am opening myself to criticism here as it goes against what many believe and invest in at the moment, but personally I am tired of the mentality that rarity and the inability to mine a coin guarantees massive long-term gains. Sure, you've completely dominated supply, but where is the circulation, demand and development? Seems to me like pumping and whales play a more important role. I might be wrong, but there is no guarantee any opinion at the moment in this scene is right.
Thanks for your time.
