[ANN][0.8.6] Hirocoin - X11 - NGW - Secured Blockchain - Time Warp Limitation

[coinlighter]

Small new article :

http://www.cryptoarticles.com/crypto-news/hirocoins-new-community-manager-whitepaper-android-wallet-coming-soon#


Trying to keep HiroCoin in the news but I can't make news that isn't there unfortunately

Thanks for the article! Great work as always. I'll be sure to contact you when we release news in the future.

Regarding the poll and ANN post, I will try to arrange for a restructuring of the ANN post to accomodate for new pools, links to downloads and mention of the forums on hirocoin.org The poll for a block reward change and coin supply reduction I'd like to hold off on. The reason is that it is not the root of the issue of HIRO's falling value. At the current supply rate and HIRO exchange rate it does not require anything close to an unwarranted amount of buy support in order to maintain its price. It also wouldn't take much to maintain a much higher price.

I'm open to discussing why it is necessary for a change and if a unique and creative scheme is brought to the table I'd gladly bring it to the rest of the team for discussion, but as of now what I wrote above is where is I stand.

Thank you for responding, I respect your stance.
Of course it's not the root of the problem now, because we have ~54m coins in circulation, that is very small amount, but in the future that will be the stumbling block to success .You might say let's not jump ahead of time, but when the community will get larger, they will bring up inflation model at some point and that's were it will be unfair to change the inflation model IMHO.
In your previous posts you mentioned that it will be bad for decentralization .Let's be realistic in this unrealistic cryptoland,there will always be small percent that will hold greater amount of coins then the rest,it's not a problem for them to accumulate how much they want, whatever the coin supply is, even in bitcoin(that's may be one of the most unfair distribution of coins in crypto) 100 people hold the 70% of coins if I'm right.The benefit of so called "early adopter" thing, that's stomps the concept of decentralization the crypto promoted in the first place.Sorry I digressed.


Let's do the math.
In 1 year  at this rate there will be~260m coins in circulation.
If our marketcap now is 70 BTC with 54M coins. We need to rise 380% in one year (it's ~1% a day), to only keep up at this price of 130sat e.g. if Hiro in one year will rise 380%(that is great mark) and it's not a sure thing that it will, our coins will still be worth the same.Yeah in crypto 1% a day is nothing but people who buy a coin expect it to rise in price not stagnate or worse fall, and quickly losing interest and jumping ship.That is the essence of the community in cryptoland unfortunately, therefore the success IMHO.


And another suggestion.
Is it possible to implement maybe "reverse dynamic block reward" e.g. decreasing and increasing the block reward between  50 - 400  according to market data (price/volume) in order to absorb the coins, I don't know any other coin implemented it or not, if not that might be an innovative feature.

Also we must do something in the marketing front asap.

Lastly, I want to thank you for all the hard work you are doing for Hiro regardless of our differences.
My English is limited as you've noticed, and I apologize for that.

Regards

I have been a firm believer that changing coin supply is a terrible idea because it acts to as manipulating the market in an even more drastic way than governments does. But we are still in infancy, if a change has to be made its now.

We want our coin to be a good coin, and let's be honest, 500 million coin per day is way too much. Not just a little too much, way too much. I think maybe we should tackle the bear right now, instead of keeping on going and then be at a point where we are left with too much static inflation, and too big to change it.

Like I've said, I've been supporting the idea that coin supply shouldn't even be contemplated. But i now believe that if we're gonna want to go forward, we're gonna need to revise that. It's not about the price nearly as much as about the difficulties we have been/will face with this extremely high inflation.

Also, radical changes tend be what works over here. So we want want all the little good things that hiro gives to be recognized, we might have to make 1 bold move.

Sorry to point to, but it's not 500 million, it's 576 000 coins per day.
Maybe you meant 500 thousand

Regards

indeed obviously. I was gonna say "half a million", then decided to write it instead, and lapsused.

At first I was confused, it pronounced in my mind as 500 million, but now I understand what you meant. 
And thank you for sharing my point.

Cheers

[creamynebula]

I think a more pressing concern regarding the block reward is our PoW algorithm itself, when HIRO launched X11 was a new PoW algorithm, there were no multipools or big farms exploting it, now its been a while that there are both, so mining income is centralized - and at the hands of people that instantly dump it for quick cash

[OmarGsPools]

I'm liking the current discussion and I'll be bringing up these points to the rest of the development team. A reward proportional to the exchange rate is an interesting concept and I'll come up with a couple of models to see how it will all pan out.

I personally don't think a direct supply change and only that is the answer, however if the supply cap is modified along with a way the coin is distributed we may find what we are looking for.

[lolwut]

         
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[OmarGsPools]

Get ready for walls of text and economic discussion.

Bad Deflation

This can happen when there is a sudden drop in demand for whatever reason. What happens in this situation is that prices start to drop to get people to buy more stuff, however people see this prices dropping and decide to hold out for the "bottom" before they spend money. This causes demand to fall further and prices fall further. Soon companies start to go bankrupt because they are not selling goods. Eventually as enough suppliers go out of business, supply will come down and prices will level. At this point however some serious damage is done. This scenario is exactly why you see governments do things like issue debt in recessions and why austerity is exactly the wrong policy for recovery.

Issuing debt in our case is continuing to produce coins at the same rate that led us to this state. It may not be a matter of ethics when talking about our current reward scheme or coin supply but rather an issue in our model.
While some extra generated interest would be enough to get us back to where we were price wise, continuing to pump out coins at a fixed rate would eventually require more and more buying interest to hold our current price. Our current model has us as an inflationary currency (just like the USD) with a halving in inflation at Block 840,000 and a continuation at half the inflation until we reach 672M HIRO. At that point we become a currency with fixed supply rate and HIRO become inherently scarce. The issue is if the damage has been done early on and prices drop, we'd be left with 672M HIRO worth nothing until there is becomes a use for them which someone could create and then abuse HIRO for a quick gain by purchasing large chunks of the total supply before creating the need. The coin must be distributed to as many hands as possible to prevent manipulation.

This is what we're dealing with currently and maybe a block reward that incorporates the current exchange rate and/or difficulty may be beneficial. My idea would be to slow down on the inflation rate (block reward) when difficulty is low to reduce the rate of coins being produced or "issued debt" when there is not enough demand. When times are well in our "HIRO Economy" we can have our block reward increase when difficulty is high (means our network is secure and has dedicated miners) and our exchange rate is climbing (means we have interest in owning our currency). The latter would also help prevent pumps as if someone decided to heavily pump HIRO we would have more HIRO coming into supply to accommodate for the new generated interest which also helps keeps our distribution decentralized.

These are just some things that have come to mind and I think an innovative distribution method like this could be really beneficial. Looks like I'm putting my economics degree here to use in the cryptoworld. Feel free to discuss this proposal and continue to share your ideas regarding this topic.

[coinlighter]

I'm liking the current discussion and I'll be bringing up these points to the rest of the development team. A reward proportional to the exchange rate is an interesting concept and I'll come up with a couple of models to see how it will all pan out.

I personally don't think a direct supply change and only that is the answer,however if the supply cap is modified along with a way the coin is distributed we may find what we are looking for.

Thank you!
I want to reiterate again. It's not a panacea to all our problems, the market forces brought forward that, and I think it's a good thing that it happened sooner rather then later,  but regardless it's a very high total supply if of course we want to see 3000 sat or higher.With that supply it's unlikely cause that's scares away investors,cause thay are paying for scarcity if there is almost endless supply of something why buy it at 3000 sat.They are not stupid to do that.
I'll dare to say that no one invester in their right mind will buy the coin at the price of 3000sat with half a million coin supply per day and 670m total supply, regardless of innovation.

I personally don't think a direct supply change and only that is the answer,however if the supply cap is modified along with a way the coin is distributed we may find what we are looking for.

I completely agree with this.
Our differences are slowly converging.

Regards

Edit: I will continue tomorrow, good night wherever you are.

[matauc12]

Get ready for walls of text and economic discussion.

Bad Deflation

This can happen when there is a sudden drop in demand for whatever reason. What happens in this situation is that prices start to drop to get people to buy more stuff, however people see this prices dropping and decide to hold out for the "bottom" before they spend money. This causes demand to fall further and prices fall further. Soon companies start to go bankrupt because they are not selling goods. Eventually as enough suppliers go out of business, supply will come down and prices will level. At this point however some serious damage is done. This scenario is exactly why you see governments do things like issue debt in recessions and why austerity is exactly the wrong policy for recovery.

Issuing debt in our case is continuing to produce coins at the same rate that led us to this state. It may not be a matter of ethics when talking about our current reward scheme or coin supply but rather an issue in our model.
While some extra generated interest would be enough to get us back to where we were price wise, continuing to pump out coins at a fixed rate would eventually require more and more buying interest to hold our current price. Our current model has us as an inflationary currency (just like the USD) with a halving in inflation at Block 874,000 and a continuation at half the inflation until we reach 672M HIRO. At that point we become a currency with fixed supply rate and HIRO become inherently scarce. The issue is if the damage has been done early on and prices drop, we'd be left with 672M HIRO worth nothing until there is becomes a use for them which someone could create and then abuse HIRO for a quick gain by purchasing large chunks of the total supply before creating the need. The coin must be distributed to as many hands as possible to prevent manipulation.

This is what we're dealing with currently and maybe a block reward that incorporates the current exchange rate and/or difficulty may be beneficial. My idea would be to slow down on the inflation rate (block reward) when difficulty is low to reduce the rate of coins being produced or "issued debt" when there is not enough demand. When times are well in our "HIRO Economy" we can have our block reward increase when difficulty is high (means our network is secure and has dedicated miners) and our exchange rate is climbing (means we have interest in owning our currency). The latter would also help prevent pumps as if someone decided to heavily pump HIRO we would have more HIRO coming into supply to accommodate for the new generated interest which also helps keeps our distribution decentralized.

These are just some things that have come to mind and I think an innovative distribution method like this could be really beneficial. Looks like I'm putting my economics degree here to use in the cryptoworld. Feel free to discuss this proposal and continue to share your ideas regarding this topic.

I really like the idea of more miners more reward, as it goes more with what inflation is used in reality.  Basically more adoption means we need to produce more. I suspect such a reward algorithm could be relatively complicated.  But it's definitely one of the best ideas I've seen for reward. And obviously it will all lie in the values in that algorithm. So do definitively go forward with that idea.

[HiroS]

There are others with a similiar supply to ours but a much better market value. It is not the supply that is the problem but the demand for it which we can change. People do not believe that we are committed to longevity.

On my list of projects for Hirocoin.

Create an API. This can be used to get the price of Hiro, generate QR codes and get various stats. This can then be used by merchants and other services.

Point of Sale page. This will pull from the API. Vendors can enter in their address and fiat type. Then they can enter in the amount in their currency, press a button and get a QR code which will can be used to pay at the counter.

Android and iPhone wallets. This works well with the PoS page above. With these apps people can scan QR codes and pay at the counter.

I believe all of the above are important for merchant adoption and increase the demand for Hirocoin.

[maxsinner]

There are others with a similiar supply to ours but a much better market value. It is not the supply that is the problem but the demand for it which we can change. People do not believe that we are committed to longevity.

On my list of projects for Hirocoin.

Create an API. This can be used to get the price of Hiro, generate QR codes and get various stats. This can then be used by merchants and other services.

Point of Sale page. This will pull from the API. Vendors can enter in their address and fiat type. Then they can enter in the amount in their currency, press a button and get a QR code which will can be used to pay at the counter.

Android and iPhone wallets. This works well with the PoS page above. With these apps people can scan QR codes and pay at the counter.

I believe all of the above are important for merchant adoption and increase the demand for Hirocoin.

With all due respect, I believe you are missing the big picture. You need to create liquidity first and only then will merchants start to notice your coin and will want to accept it. Hiro at the moment is around $50k market cap meaning it will be a complete waste of time for any merchant to integrate it, since the potential revenue impact is so incredibly small. If you think you have a few years to develop on your own pace then you are wrong. You need to grab the bull by the horns and be a leader in this space and not a spectator. From recent developments it's obvious that people are more willing to put their hard-earned money in coins with fast initial distribution. It's also obvious that people care about anonymity to such an extend that they are even willing to bet on the lowest of scam coins for the slight chance of some innovation in regards to anonymity.

Why don't you reduce the coin supply and go into the only direction that Bitcoin does not want to go, which is anonymity? Even if the anon trend ends sooner rather than later, then you would still have one extra feature that is valued by potential buyers.

At the moment Hiro is just another coin without a purpose and this is reflected in the price. You need to get people interested, you need to ride the wave of interest and stay on top of it by offering people what they want and NOT what YOU THINK they want. Get this coin to 2-3mil  market cap and you can be sure that merchants will start noticing it and that adoption will switch to a new gear.

You don't have the time that you think you have, it's a wolf-eat-wolf world and if you just sit back and wait for something to happen, then other coins will be so much ahead that you won't be even able to see them anymore. You need to make things happen and you need to make them happen fast or you are just wasting your talents.

[coinlighter]

This!

Get ready for walls of text and economic discussion.

Bad Deflation

This can happen when there is a sudden drop in demand for whatever reason. What happens in this situation is that prices start to drop to get people to buy more stuff, however people see this prices dropping and decide to hold out for the "bottom" before they spend money. This causes demand to fall further and prices fall further. Soon companies start to go bankrupt because they are not selling goods. Eventually as enough suppliers go out of business, supply will come down and prices will level. At this point however some serious damage is done. This scenario is exactly why you see governments do things like issue debt in recessions and why austerity is exactly the wrong policy for recovery.

Issuing debt in our case is continuing to produce coins at the same rate that led us to this state. It may not be a matter of ethics when talking about our current reward scheme or coin supply but rather an issue in our model.
While some extra generated interest would be enough to get us back to where we were price wise, continuing to pump out coins at a fixed rate would eventually require more and more buying interest to hold our current price. Our current model has us as an inflationary currency (just like the USD) with a halving in inflation at Block 840,000 and a continuation at half the inflation until we reach 672M HIRO. At that point we become a currency with fixed supply rate and HIRO become inherently scarce. The issue is if the damage has been done early on and prices drop, we'd be left with 672M HIRO worth nothing until there is becomes a use for them which someone could create and then abuse HIRO for a quick gain by purchasing large chunks of the total supply before creating the need. The coin must be distributed to as many hands as possible to prevent manipulation.


This is what we're dealing with currently and maybe a block reward that incorporates the current exchange rate and/or difficulty may be beneficial. My idea would be to slow down on the inflation rate (block reward) when difficulty is low to reduce the rate of coins being produced or "issued debt" when there is not enough demand. When times are well in our "HIRO Economy" we can have our block reward increase when difficulty is high (means our network is secure and has dedicated miners) and our exchange rate is climbing (means we have interest in owning our currency). The latter would also help prevent pumps as if someone decided to heavily pump HIRO we would have more HIRO coming into supply to accommodate for the new generated interest which also helps keeps our distribution decentralized.

These are just some things that have come to mind and I think an innovative distribution method like this could be really beneficial. Looks like I'm putting my economics degree here to use in the cryptoworld. Feel free to discuss this proposal and continue to share your ideas regarding this topic.

Thank you for considering my suggestion. We agree on something, that's great.

I completely support that.

Maybe we can use that in the marketing front.

There are others with a similiar supply to ours but a much better market value. It is not the supply that is the problem but the demand for it which we can change. People do not believe that we are committed to longevity.

On my list of projects for Hirocoin.

Create an API. This can be used to get the price of Hiro, generate QR codes and get various stats. This can then be used by merchants and other services.

Point of Sale page. This will pull from the API. Vendors can enter in their address and fiat type. Then they can enter in the amount in their currency, press a button and get a QR code which will can be used to pay at the counter.

Android and iPhone wallets. This works well with the PoS page above. With these apps people can scan QR codes and pay at the counter.

I believe all of the above are important for merchant adoption and increase the demand for Hirocoin.

Hi! First of all I want to thank you for all the hard work you are doing for Hiro and taking time to write here.I can't speak for everyone,  but for me I never doubted in Hiro Dev team commitment and integrity, otherwise I would've never bothered to write here in the first place.
I know what coin you're referring to, but that coin has a very large community compared to Hiro, and capitalized on a internet meme in the peak of cryptocraze.I'm again coming to my earlier saying that a coin is all about the community, that's why the dev team should consider and accommodate its needs and suggestions, adapt to market forces to make it.

Can I ask you a question?
Why the price fell more then ~3800% from ATH but marketcap fell 300%,that's unproportional, the price fell ~30 time more then marketcap. if it's not a market flooding then I don't know what is. Demand can't keep up with this amount of coins flooding the market.The market is saturated.That's why I suggested to at least reduce the block reward or maybe dynamic block reward and Omar revised and supports it, I want to know what you think about that.
The majority(if not all) are here to make money and alt forum became cesspit of greed, fraud, aggressive marketing  that is stifling the honest coins like Hiro unfortunately.We need to change our policy to survive.

Regards

[flipme]

Why don't you fork and make it merge mineable with DRK?
Instead of the other way around, you were proposing on your own forum.
Who in the world wants to mine one shitcoin and get more of some other even more worthless shitcoin on top for free.
If HIRO would be a by-product of DRK mining it would give it a nice lift for sure.

[maxsinner]

Why don't you fork and make it merge mineable with DRK?
Instead of the other way around, you were proposing on your own forum.
Who in the world wants to mine one shitcoin and get more of some other even more worthless shitcoin on top for free.
If HIRO would be a by-product of DRK mining it would give it a nice lift for sure.

Nobody outside of crypto cares about merge mining. Look at the Blake ecosystem, look at Vertcoin and Monocle and you will see that these are just the kind of "innovations" for which the outside world does not care about. Hiro thinks people will come running to his coin when scrypt assics roll in big numbers... that could have been true if you were the only X11 coin but there will be more and more x11 and x13 coins coming not to mention Scrypt-N and all the Vertcoin clones. X11 in it's own is not enough to make a coin worth mining. You need to add something that will be valuable to people and that will differentiate your coin from others. Vertcoin for example is loosing value by the day because it's 2 biggest USPs are 2 things that nobody outside of crypto cares about: Asics resistance and merge mining and on top of that has a terrible inflation. Hiro at the moment is poor, poor men's Vertcoin, similar to execoin and a few others. You need to think big and give the market what it wants if you are to be successful. If you are going to wait for Bitcoin to hit it's peak, so hopefully people notice your coin, then you might as well declare it dead already.

You can't compare what happened to LTC to the current situation because the number of coins that people can now choose from is much much bigger. At the moment Hirocoin is one of the big losers. Hell even Piggycoin will soon have at least 5 times bigger marketcap because they decided to follow the market trends.

[flipme]

You are right, I'm not really a fan of merged mining.
But in this case its a bit different.
HIRO would be the first coin to build on the DRK system.
And its a total fit, as HIRO was the first coin to implement X11.
Not to mention the interchange between developers, what an advantage.
I see that couple as the perfect contender for BTC/LTC.

[coinlighter]

Hello to all.I have been lurking for a very long time in  BCT, and this is the first time I'm posting therefore don't criticize me.


I have a suggestion.Why not reduce the total number of coins from 672m to ~100m or less(The coins will be 6 time rarer and the price will rise accordingly (IMO).I think the existing investors would appreciate it) and especially number of coins per block from 400 to 100 or less (the price can't sustain 576000 coins per day with such a low volume as ours  cause it's became one of the most profitable coins to "mine and dump" by multipools.Marketcap for this coin didn't fell in the past month, what’s more, it rose a little ).Then why the price fell more than 250% and continue to fall?.Soon enough it will be less then 100 sat


It's a great coin with excellent developer team and great community.
It would be a shame that this great coin dies but shitcoins continue to live.We all know that the price is a main driving force of any coin.
I want to know what the developer team and especially the community thinks about this, maybe make a poll or something.
I hope I put up my thoughts correctly because English is not my first or second language

Just my 2 hiros  
Thank you

As I predicted.

Why don't you fork and make it merge mineable with DRK?
Instead of the other way around, you were proposing on your own forum.
Who in the world wants to mine one shitcoin and get more of some other even more worthless shitcoin on top for free.
If HIRO would be a by-product of DRK mining it would give it a nice lift for sure.

Nobody outside of crypto cares about merge mining. Look at the Blake ecosystem, look at Vertcoin and Monocle and you will see that these are just the kind of "innovations" for which the outside world does not care about. Hiro thinks people will come running to his coin when scrypt assics roll in big numbers... that could have been true if you were the only X11 coin but there will be more and more x11 and x13 coins coming not to mention Scrypt-N and all the Vertcoin clones. X11 in it's own is not enough to make a coin worth mining. You need to add something that will be valuable to people and that will differentiate your coin from others. Vertcoin for example is loosing value by the day because it's 2 biggest USPs are 2 things that nobody outside of crypto cares about: Asics resistance and merge mining and on top of that has a terrible inflation. Hiro at the moment is poor, poor men's Vertcoin, similar to execoin and a few others. You need to think big and give the market what it wants if you are to be successful. If you are going to wait for Bitcoin to hit it's peak, so hopefully people notice your coin, then you might as well declare it dead already.

You can't compare what happened to LTC to the current situation because the number of coins that people can now choose from is much much bigger. At the moment Hirocoin is one of the big losers. Hell even Piggycoin will soon have at least 5 times bigger marketcap because they decided to follow the market trends.

You read my mind. I was about to say that.

[maxsinner]

Get ready for walls of text and economic discussion.

Bad Deflation

This can happen when there is a sudden drop in demand for whatever reason. What happens in this situation is that prices start to drop to get people to buy more stuff, however people see this prices dropping and decide to hold out for the "bottom" before they spend money. This causes demand to fall further and prices fall further. Soon companies start to go bankrupt because they are not selling goods. Eventually as enough suppliers go out of business, supply will come down and prices will level. At this point however some serious damage is done. This scenario is exactly why you see governments do things like issue debt in recessions and why austerity is exactly the wrong policy for recovery.

Issuing debt in our case is continuing to produce coins at the same rate that led us to this state. It may not be a matter of ethics when talking about our current reward scheme or coin supply but rather an issue in our model.
While some extra generated interest would be enough to get us back to where we were price wise, continuing to pump out coins at a fixed rate would eventually require more and more buying interest to hold our current price. Our current model has us as an inflationary currency (just like the USD) with a halving in inflation at Block 840,000 and a continuation at half the inflation until we reach 672M HIRO. At that point we become a currency with fixed supply rate and HIRO become inherently scarce. The issue is if the damage has been done early on and prices drop, we'd be left with 672M HIRO worth nothing until there is becomes a use for them which someone could create and then abuse HIRO for a quick gain by purchasing large chunks of the total supply before creating the need. The coin must be distributed to as many hands as possible to prevent manipulation.

This is what we're dealing with currently and maybe a block reward that incorporates the current exchange rate and/or difficulty may be beneficial. My idea would be to slow down on the inflation rate (block reward) when difficulty is low to reduce the rate of coins being produced or "issued debt" when there is not enough demand. When times are well in our "HIRO Economy" we can have our block reward increase when difficulty is high (means our network is secure and has dedicated miners) and our exchange rate is climbing (means we have interest in owning our currency). The latter would also help prevent pumps as if someone decided to heavily pump HIRO we would have more HIRO coming into supply to accommodate for the new generated interest which also helps keeps our distribution decentralized.

These are just some things that have come to mind and I think an innovative distribution method like this could be really beneficial. Looks like I'm putting my economics degree here to use in the cryptoworld. Feel free to discuss this proposal and continue to share your ideas regarding this topic.

So you are basically suggesting the reversed model of what DarkCoin is doing and what has proven very successful? More net hashpower - higher block rewards, less hashpower -lower block rewards? Frankly speaking I cannot predict how that will turn out. My estimation is that it will result in big swings in net hashrate and not really help much with anything, although if on average there are less coins being produced overall, then it can't be worse than the current situation.

What I don't understand is why you are not willing to revise the total coin supply? If you take DRK for example it started as an 84 mil total supply coin which was adjusted significantly later on. People in crypto are accustomed to these kind of changes and pretty much consider them normal. If DRK can be successful with almost 2mil instamine, then I am sure that Hiro can be successful as well with some changes to the supply curve. Nobody will accuse you of scaming or not being fair or whatever, just make sure you give people enough time to still mine after you announce and before you make the changes and everyone will be happy and especially the people who held their Hirocoins and supported you through thick and thin.

[crazyivan]

Get ready for walls of text and economic discussion.

Bad Deflation

This can happen when there is a sudden drop in demand for whatever reason. What happens in this situation is that prices start to drop to get people to buy more stuff, however people see this prices dropping and decide to hold out for the "bottom" before they spend money. This causes demand to fall further and prices fall further. Soon companies start to go bankrupt because they are not selling goods. Eventually as enough suppliers go out of business, supply will come down and prices will level. At this point however some serious damage is done. This scenario is exactly why you see governments do things like issue debt in recessions and why austerity is exactly the wrong policy for recovery.

Issuing debt in our case is continuing to produce coins at the same rate that led us to this state. It may not be a matter of ethics when talking about our current reward scheme or coin supply but rather an issue in our model.
While some extra generated interest would be enough to get us back to where we were price wise, continuing to pump out coins at a fixed rate would eventually require more and more buying interest to hold our current price. Our current model has us as an inflationary currency (just like the USD) with a halving in inflation at Block 840,000 and a continuation at half the inflation until we reach 672M HIRO. At that point we become a currency with fixed supply rate and HIRO become inherently scarce. The issue is if the damage has been done early on and prices drop, we'd be left with 672M HIRO worth nothing until there is becomes a use for them which someone could create and then abuse HIRO for a quick gain by purchasing large chunks of the total supply before creating the need. The coin must be distributed to as many hands as possible to prevent manipulation.

This is what we're dealing with currently and maybe a block reward that incorporates the current exchange rate and/or difficulty may be beneficial. My idea would be to slow down on the inflation rate (block reward) when difficulty is low to reduce the rate of coins being produced or "issued debt" when there is not enough demand. When times are well in our "HIRO Economy" we can have our block reward increase when difficulty is high (means our network is secure and has dedicated miners) and our exchange rate is climbing (means we have interest in owning our currency). The latter would also help prevent pumps as if someone decided to heavily pump HIRO we would have more HIRO coming into supply to accommodate for the new generated interest which also helps keeps our distribution decentralized.

These are just some things that have come to mind and I think an innovative distribution method like this could be really beneficial. Looks like I'm putting my economics degree here to use in the cryptoworld. Feel free to discuss this proposal and continue to share your ideas regarding this topic.

So you are basically suggesting the reversed model of what DarkCoin is doing and what has proven very successful? More net hashpower - higher block rewards, less hashpower -lower block rewards? Frankly speaking I cannot predict how that will turn out. My estimation is that it will result in big swings in net hashrate and not really help much with anything, although if on average there are less coins being produced overall, then it can't be worse than the current situation.

What I don't understand is why you are not willing to revise the total coin supply? If you take DRK for example it started as an 84 mil total supply coin which was adjusted significantly later on. People in crypto are accustomed to these kind of changes and pretty much consider them normal. If DRK can be successful with almost 2mil instamine, then I am sure that Hiro can be successful as well with some changes to the supply curve. Nobody will accuse you of scaming or not being fair or whatever, just make sure you give people enough time to still mine after you announce and before you make the changes and everyone will be happy and especially the people who held their Hirocoins and supported you through thick and thin.

Do not waste your energy, I proposed reduction of total coin supply 2 months ago and I was bashed by almost every single so-called Hiro developer. Well, with this price we can expect de-listing from exchanges to start very soon. Good thing I sold my coins. ALWAYS listen to your community cause if you do not, they go somewhere else.

[equalizer]

There's a real opportunity right now to bring to light what a decent and non-scammy dev team we have in Hirocoin. There's been a long list of coins and groups that have stolen a lot of money from unsuspecting miners and investors recently - the time for coins like Hiro to shine has come. But...

If we don't take this opportunity by the horns and reinvent the coin's image and its offerings, we're the foolish ones. As many of us said in previous posts, the hirocoin team has a reputation of being stubborn and unwilling to adapt to the changing landscape (not meant as a dig, more as an observation). It's not about changing the coin's specs on a whim as some people have cautioned - it's about having more information today than you did 3 months ago, 2 months ago, 1 month ago. Let's use this information to our advantage and at least *try* to do what we can to make hirocoin a premiere coin now. Let's not hope for BTC to peak or some other external factor to give this coin life.

There are people in this thread who are far smarter and more experienced than I am about what it'll take to jumpstart Hirocoin again. All I feel comfortable offering is the +1 to being open-minded and to be willing to try a mostly good idea rather than not doing anything because it's not perfect. People often watch the world pass by because they wait for that one golden solution that will address every possible problem and permutation. This is unrealistic. It's about going with the best prospect in the window of time we have.

[fedmahnkassad]

There's a real opportunity right now to bring to light what a decent and non-scammy dev team we have in Hirocoin. There's been a long list of coins and groups that have stolen a lot of money from unsuspecting miners and investors recently - the time for coins like Hiro to shine has come. But...

If we don't take this opportunity by the horns and reinvent the coin's image and its offerings, we're the foolish ones. As many of us said in previous posts, the hirocoin team has a reputation of being stubborn and unwilling to adapt to the changing landscape (not meant as a dig, more as an observation). It's not about changing the coin's specs on a whim as some people have cautioned - it's about having more information today than you did 3 months ago, 2 months ago, 1 month ago. Let's use this information to our advantage and at least *try* to do what we can to make hirocoin a premiere coin now. Let's not hope for BTC to peak or some other external factor to give this coin life.

There are people in this thread who are far smarter and more experienced than I am about what it'll take to jumpstart Hirocoin again. All I feel comfortable offering is the +1 to being open-minded and to be willing to try a mostly good idea rather than not doing anything because it's not perfect. People often watch the world pass by because they wait for that one golden solution that will address every possible problem and permutation. This is unrealistic. It's about going with the best prospect in the window of time we have.

Very well said.

[OmarGsPools]

I'll be coming up with a more revised model of what I'll propose to the rest of our development team regarding a block reward change and dynamic coin supply determined by difficulty. This will be included in the upcoming whitepaper if we agree that this is a desirable solution.

[coinlighter]

I'll be coming up with a more revised model of what I'll propose to the rest of our development team regarding a block reward change and dynamic coin supply determined by difficulty. This will be included in the upcoming whitepaper if we agree that this is a desirable solution.

Thanks! Will be waiting for more details regarding how that will work.