TheMightyX, while you have
very few valid points, Premine & suspicious [non-public] IPOs never was & never will be a "norm" in future. this is just gold-fever with noobz to lose their money.
unless for retarded people, yes i said
retarded people, whom believe in cartoons & super-heroes which thinks that some faceless troll [an unknown dev] will give away 50% pre-mine [
300,000,000 $ in current price] just becoz he is a nice guy !!
[yes i am talking about the biggest scam ever; AKA auroracoin, lol]
~ adaptive-N can have some benefits, but its basically a "Hyped" PoW with no
real use in future. & we don't need v2.0 hype, kitteh was one of the very few that launched in a fever of crapcoins & never was a "hyped"or a "P&D" coin like many other scamcoins.
TheMightyX, however your frustration is totally understandable, & kitteh could do alot better.
~ peAce
We will have to disagree on the validity of my post -_-
I'm not sure what the auroracoin reference has to do with anything but maybe you are forgetting how things work in the real world. People have bills, rent and families to feed. That means most often things don't get made for nothing.
Companies need investors and IPOs to build lasting brands and products. Were we really hoping that some guy is going to develop something in his spare time thats going to make us all rich? Well that would be nice, but rarely happens.
Applying our narrow view of the cryptocurrency market (premine = bad!) to business ethics is a foolish task. Yes, there are many times when developers shouldn't get a premine, or have an IPO, but I don't think this is one of them. There are ways to make premines fair and for the last couple hundred years of industry IPOs have been funding companies to grow and expand. So to say that all of a sudden the creator/developer shouldn't have a vested interest in his own product is absurd.
An IPO is actually a better model of funding development because the developer won't need to sell out of the currency (inflation) to pay himself. The IPO could even be held in escrow with a m-of-n transaction between trusted community members. Hell you could have 50 members included in the transaction, and to get paid 40 signatures would be needed. Is that safe enough for you? If 40 of us have to say its ok to pay the developer X number of bitcoins once a month?
Of course no one actually takes the time to implement these kinds of things. In this way the cryptocurrency community is immature. Not thinking of the future. All we can think about a premine or IPO is "What? Why should that schmuck get money for doing nothing!".
Well without it where is his incentive for making it great? Unless he lives in his parents basement the developer is generally working on it part-time or whenever he can find a few hours here and there. Do we all really want something for nothing? I know I do but we can't all be as greedy as I am!
Yeah this is all spot on. Sorry I am slammed @ work this week but a 4day weekend coming up means extra time to work on kittehcoin. Basically KGW doesn't always work. Even when it does there are ways (and the MPs may have figured them out) to manipulate KGW so you get a low diff even with MP level mining power suddenly introduced. In any case we are working on a better solution that still involves block-by-block diff adjustments, even looking into if its possible to adjust difficulty on the fly within a block.
Appreciate everyone who has posted the corrective information regarding adaptive-N, your comments about it being a hyped piece of coin marketing are spot on. It may have benefits in a year or two, but not now, not until scrypt asics are getting more widely produced. Even then it can be easily added to kittehcoin. We want to introduce more valuable innovations- that will bring new buyers as well as crypto enthusiasts who can see through things like adaptive-N scrypt hype.
Added Cryptsy to OP! Noticed it needs a proper scrubbing will update it after work tomorrow.
Will be posting more detailed replies tomorrow evening; sorry for the brevity!
Overhyped marketing gimmick or not. Vertcoin hasn't been hit by multipools, ever.
So... I'm not really sure how something that could have prevented what's happened to this coin is just a gimmick.
It may have benefits in a year or two, but not now,
It may have benefits in a year or two, but not now,
It may have benefits in a year or two, but not now,
...
I kind of see an algo that could have prevented what's happened to our kitteh pretty beneficial right MEOW!, don't you?
