NA

[Luuk]

I want peoples honest opinion . Should I sell half my coins and buy under 200? Litesire says 230 is a bottom but doesn't say why. The rate the coin is going down in price it will be 150 by middle of the month and I can make a lot more coins for free. Will multipools dump it that far down ?

Are you selling them at a loss?  If so, I don't know if I would take that chance.  I personally probably won't do that, but that's not advice.   I have not followed/studied this coin's market patterns long enough to make a proper call.  On the other hand, if those are mined or if you are selling them at a profit, I would probably do it.  This is just my opinion, you need to make that decision.

About 50% loss. I was planning to use Nocks this weekend to buy food but decided not to spend the coins as they worthless.  Thanks for the advice. I might buy more to average out my losses and not risk it selling.

We have to accept that we going to have low prices for next 8 years.

Jump pools will keep the price down for a long time and going full POS will just make things worse. The coin deserves better but it is what it is.

After 40 years there is 1850 million coins and 1700 million out in first 14 years. I looked at digibyte and it's also a good coin but have noticed with all these high supply coins they have extremely low prices but with only 13 million bitcoin it's no surprise a high supply coin will never achieve a high price. The EFL guys also said this is why guldencoin will never succeed because of too many coins coming onto the market.

[Bluestreet]

I want peoples honest opinion . Should I sell half my coins and buy under 200? Litesire says 230 is a bottom but doesn't say why. The rate the coin is going down in price it will be 150 by middle of the month and I can make a lot more coins for free. Will multipools dump it that far down ?

Are you selling them at a loss?  If so, I don't know if I would take that chance.  I personally probably won't do that, but that's not advice.   I have not followed/studied this coin's market patterns long enough to make a proper call.  On the other hand, if those are mined or if you are selling them at a profit, I would probably do it.  This is just my opinion, you need to make that decision.

About 50% loss. I was planning to use Nocks this weekend to buy food but decided not to spend the coins as they worthless.  Thanks for the advice. I might buy more to average out my losses and not risk it selling.

We have to accept that we going to have low prices for next 8 years.

Jump pools will keep the price down for a long time and going full POS will just make things worse. The coin deserves better but it is what it is.

After 40 years there is 1850 million coins and 1700 million out in first 14 years. I looked at digibyte and it's also a good coin but have noticed with all these high supply coins they have extremely low prices but with only 13 million bitcoin it's no surprise a high supply coin will never achieve a high price. The EFL guys also said this is why guldencoin will never succeed because of too many coins coming onto the market.

I think Guldencoin should be listed on exchanges where u can use fiat for Guldencoin and vice versa, just like on stock-markets. I don't think it's good for Guldencoin to be solely tied to the Bitcoin...

I totally agree on the above. Guldencoin needs to have it's own value and bitcoin treated as just another coin to buy with. I do see why people are worried because almost 10 btc in sales to 400 when we were trading steady above 400 not so long ago. More coins because DELTA is working so well. Success can be painful too.lol

[EFLisTheBest]

I want peoples honest opinion . Should I sell half my coins and buy under 200? Litesire says 230 is a bottom but doesn't say why. The rate the coin is going down in price it will be 150 by middle of the month and I can make a lot more coins for free. Will multipools dump it that far down ?

Are you selling them at a loss?  If so, I don't know if I would take that chance.  I personally probably won't do that, but that's not advice.   I have not followed/studied this coin's market patterns long enough to make a proper call.  On the other hand, if those are mined or if you are selling them at a profit, I would probably do it.  This is just my opinion, you need to make that decision.

About 50% loss. I was planning to use Nocks this weekend to buy food but decided not to spend the coins as they worthless.  Thanks for the advice. I might buy more to average out my losses and not risk it selling.

We have to accept that we going to have low prices for next 8 years.

Jump pools will keep the price down for a long time and going full POS will just make things worse. The coin deserves better but it is what it is.

After 40 years there is 1850 million coins and 1700 million out in first 14 years. I looked at digibyte and it's also a good coin but have noticed with all these high supply coins they have extremely low prices but with only 13 million bitcoin it's no surprise a high supply coin will never achieve a high price. The EFL guys also said this is why guldencoin will never succeed because of too many coins coming onto the market.

This is the reason I never invested in guldencoin. Too many coins man!

[danijel]

People that do not like this coin i sugest tot go away,
Like sombady told before ROME WAS NOT BILD IN ONE DAY.
so you trols and gready people PLEASE GO AWAY!!!!!

[doremi]

total supply atm :247 million

premine: 170 million

......even it goes POS...i won`t touch it

[Altcoinfanatic]

go away trolls

[Frais]

From the official Guldencoin forum: https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126

Delta is a success, it functions very well and it causes more stability. Time to look forward. The Guldencoin dev-team is now working on the next update, bringing our codebase to the same level as Bitcoin. This means that we get important bugfixes and new functions like Multi-Sig wallets and Smart Contracts, more on that later.

Within and also without the dev-team the conversation about Guldencoin’s specifications has sparked and in particular the amount of NLG that comes onto the market daily by mining. 18 months ago I thought that a daily volume of 576000 NLG should come on the market. I couldn’t predict the future and if this amount would be the perfect fit or not. You can only see that at a later stage, and that is where we are now.

A lot more knowledge has come on board. We have an incredible dev team that really knows what’s important for Guldencoin. And that is daily use. And that is why there is much talk about the daily amount of NLG coming onto the market. We think that it is too much. And we see that in the value. For me personally value doesn’t say much, but it is important for use. New users and merchants will look at the value. Buying a pizza for 10.000 or 1000 NLG is a big difference.

A lot of thinking has gone into this, but to say it quickly: we want to change the daily volume that comes onto the market. Our maximum of 576000 NLG a day is barely reached now due to multipools. It’s more like 300000 NLG per day now. Our proposal is reducing the daily amount to about 30000 to 50000 NLG.

Daily amount NLG
Officially: 576000
In reality: 300000
After change: 30000 - 50000

Total amount of NLG after 40 years
Officially: max 1700 million
In reality: max 1830 million
After change: max 1260 million

Besides that we want to bring this to market gradually, so people that get into Guldencoin at a later stage can still get a decent amount, opposed to Bitcoin. WaterLooDown will tell you more about this.

This is a huge change that will have both short-term and long-term consequences for Guldencoin. Short-term there will most likely be a price surge, because there is less supply. But the most important thing is a better balance between supply and demand, which in turn will cause more stability. This stability is very important. There are a lot of fantastic projects that would normally cause a healthy increase in value. But because of the tremendous amount of NLG this isn’t the case, and that’s disappointing for everyone. Not because there isn’t a speedy increase in value, but it’s disappointing because a stable increase in value is important for all of these projects.

We want to address new users and that is very hard now by the absense of a steady and healthy growth. It’s time to switch gears.

It’s a very huge change and I’ve only addressed a few aspects of it. Our devs will give you more information and we would like to know what you all think. This is, of course, a change we would only follow through on if the majority is in favor of this change.

[Wildwest]

From the official Guldencoin forum: https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126

Delta is a success, it functions very well and it causes more stability. Time to look forward. The Guldencoin dev-team is now working on the next update, bringing our codebase to the same level as Bitcoin. This means that we get important bugfixes and new functions like Multi-Sig wallets and Smart Contracts, more on that later.

Within and also without the dev-team the conversation about Guldencoin’s specifications has sparked and in particular the amount of NLG that comes onto the market daily by mining. 18 months ago I thought that a daily volume of 576000 NLG should come on the market. I couldn’t predict the future and if this amount would be the perfect fit or not. You can only see that at a later stage, and that is where we are now.

A lot more knowledge has come on board. We have an incredible dev team that really knows what’s important for Guldencoin. And that is daily use. And that is why there is much talk about the daily amount of NLG coming onto the market. We think that it is too much. And we see that in the value. For me personally value doesn’t say much, but it is important for use. New users and merchants will look at the value. Buying a pizza for 10.000 or 1000 NLG is a big difference.

A lot of thinking has gone into this, but to say it quickly: we want to change the daily volume that comes onto the market. Our maximum of 576000 NLG a day is barely reached now due to multipools. It’s more like 300000 NLG per day now. Our proposal is reducing the daily amount to about 30000 to 50000 NLG.

Daily amount NLG
Officially: 576000
In reality: 300000
After change: 30000 - 50000

Total amount of NLG after 40 years
Officially: max 1700 million
In reality: max 1830 million
After change: max 1260 million

Besides that we want to bring this to market gradually, so people that get into Guldencoin at a later stage can still get a decent amount, opposed to Bitcoin. WaterLooDown will tell you more about this.

This is a huge change that will have both short-term and long-term consequences for Guldencoin. Short-term there will most likely be a price surge, because there is less supply. But the most important thing is a better balance between supply and demand, which in turn will cause more stability. This stability is very important. There are a lot of fantastic projects that would normally cause a healthy increase in value. But because of the tremendous amount of NLG this isn’t the case, and that’s disappointing for everyone. Not because there isn’t a speedy increase in value, but it’s disappointing because a stable increase in value is important for all of these projects.

We want to address new users and that is very hard now by the absense of a steady and healthy growth. It’s time to switch gears.

It’s a very huge change and I’ve only addressed a few aspects of it. Our devs will give you more information and we would like to know what you all think. This is, of course, a change we would only follow through on if the majority is in favor of this change.

Respect for admitting the mistake.
Respect for taking ownership.
Respect for correcting the situation.

*bow*

[pijpenstelen]

From the official Guldencoin forum: https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126

Delta is a success, it functions very well and it causes more stability. Time to look forward. The Guldencoin dev-team is now working on the next update, bringing our codebase to the same level as Bitcoin. This means that we get important bugfixes and new functions like Multi-Sig wallets and Smart Contracts, more on that later.

Within and also without the dev-team the conversation about Guldencoin’s specifications has sparked and in particular the amount of NLG that comes onto the market daily by mining. 18 months ago I thought that a daily volume of 576000 NLG should come on the market. I couldn’t predict the future and if this amount would be the perfect fit or not. You can only see that at a later stage, and that is where we are now.

A lot more knowledge has come on board. We have an incredible dev team that really knows what’s important for Guldencoin. And that is daily use. And that is why there is much talk about the daily amount of NLG coming onto the market. We think that it is too much. And we see that in the value. For me personally value doesn’t say much, but it is important for use. New users and merchants will look at the value. Buying a pizza for 10.000 or 1000 NLG is a big difference.

A lot of thinking has gone into this, but to say it quickly: we want to change the daily volume that comes onto the market. Our maximum of 576000 NLG a day is barely reached now due to multipools. It’s more like 300000 NLG per day now. Our proposal is reducing the daily amount to about 30000 to 50000 NLG.

Daily amount NLG
Officially: 576000
In reality: 300000
After change: 30000 - 50000

Total amount of NLG after 40 years
Officially: max 1700 million
In reality: max 1830 million
After change: max 1260 million

Besides that we want to bring this to market gradually, so people that get into Guldencoin at a later stage can still get a decent amount, opposed to Bitcoin. WaterLooDown will tell you more about this.

This is a huge change that will have both short-term and long-term consequences for Guldencoin. Short-term there will most likely be a price surge, because there is less supply. But the most important thing is a better balance between supply and demand, which in turn will cause more stability. This stability is very important. There are a lot of fantastic projects that would normally cause a healthy increase in value. But because of the tremendous amount of NLG this isn’t the case, and that’s disappointing for everyone. Not because there isn’t a speedy increase in value, but it’s disappointing because a stable increase in value is important for all of these projects.

We want to address new users and that is very hard now by the absense of a steady and healthy growth. It’s time to switch gears.

It’s a very huge change and I’ve only addressed a few aspects of it. Our devs will give you more information and we would like to know what you all think. This is, of course, a change we would only follow through on if the majority is in favor of this change.

This plan looks much better for short and long term of guldencoin and new users will never feel they missed out. I don't know what the future holds for bitcoin when rewards keep halving. This is much better plan for stability and banks can't say it won't work because of deflation every 4 years. What new services is Patrick talking about?

https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126/4

[Altcoinfanatic]

what algorithms will be in the new multi-algo wallet?

unitus coin is a good example: 5 algo: Blake256, Skein, Qubit, Yescrypt and x11

http://unitus.info/network

it works very well

Hi ded,

We are revamping the current Multi Algo design as there is some flaws we have picked up that can be exploited by someone who knows what they doing. Once we ready for testing we will see how many Algos work the best, whether it be 2,3,4 or 5. However it looks like we will be going with 2 or 3 depending if we release our new PoS design this August.

Something that people don't know is that no Algo is ASIC resistant, it's a myth, if the coin has a high enough value for manufacturers to build ASICs for any ALGO that coin uses they will. This is the reason we decided to fix the long block times with DELTA readjustment algorithm instead of changing to another algo it's because this approach was a better long term solution. Our Multi Algo solution will also use DELTA.

0_o
Can we get an official statement by MaNI if the multi algo design on coins like Myriadcoin and Digibyte is flawed also? Or is it a secret?

[jwinterm]

From the official Guldencoin forum: https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126

Delta is a success, it functions very well and it causes more stability. Time to look forward. The Guldencoin dev-team is now working on the next update, bringing our codebase to the same level as Bitcoin. This means that we get important bugfixes and new functions like Multi-Sig wallets and Smart Contracts, more on that later.

Within and also without the dev-team the conversation about Guldencoin’s specifications has sparked and in particular the amount of NLG that comes onto the market daily by mining. 18 months ago I thought that a daily volume of 576000 NLG should come on the market. I couldn’t predict the future and if this amount would be the perfect fit or not. You can only see that at a later stage, and that is where we are now.

A lot more knowledge has come on board. We have an incredible dev team that really knows what’s important for Guldencoin. And that is daily use. And that is why there is much talk about the daily amount of NLG coming onto the market. We think that it is too much. And we see that in the value. For me personally value doesn’t say much, but it is important for use. New users and merchants will look at the value. Buying a pizza for 10.000 or 1000 NLG is a big difference.

A lot of thinking has gone into this, but to say it quickly: we want to change the daily volume that comes onto the market. Our maximum of 576000 NLG a day is barely reached now due to multipools. It’s more like 300000 NLG per day now. Our proposal is reducing the daily amount to about 30000 to 50000 NLG.

Daily amount NLG
Officially: 576000
In reality: 300000
After change: 30000 - 50000

Total amount of NLG after 40 years
Officially: max 1700 million
In reality: max 1830 million
After change: max 1260 million

Besides that we want to bring this to market gradually, so people that get into Guldencoin at a later stage can still get a decent amount, opposed to Bitcoin. WaterLooDown will tell you more about this.

This is a huge change that will have both short-term and long-term consequences for Guldencoin. Short-term there will most likely be a price surge, because there is less supply. But the most important thing is a better balance between supply and demand, which in turn will cause more stability. This stability is very important. There are a lot of fantastic projects that would normally cause a healthy increase in value. But because of the tremendous amount of NLG this isn’t the case, and that’s disappointing for everyone. Not because there isn’t a speedy increase in value, but it’s disappointing because a stable increase in value is important for all of these projects.

We want to address new users and that is very hard now by the absense of a steady and healthy growth. It’s time to switch gears.

It’s a very huge change and I’ve only addressed a few aspects of it. Our devs will give you more information and we would like to know what you all think. This is, of course, a change we would only follow through on if the majority is in favor of this change.

This plan looks much better for short and long term of guldencoin and new users will never feel they missed out. I don't know what the future holds for bitcoin when rewards keep halving. This is much better plan for stability and banks can't say it won't work because of deflation every 4 years. What new services is Patrick talking about?

https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126/4

I don't think this plan looks much better, and I doubt it will result in short term price gains either. Messing with total coins and coin emission (repeatedly) just makes devs look like they can't be trusted, imo. Why should anyone think that if demand for 30-50k is weak for a few months emission won't be adjusted again?

[Altcoinfanatic]

I heard groestl algorithm killed myraidcoin and asian mining group sitting with close to 250 million digibyte waiting to be dumped as they abused one of the algorithms. Multi Algo is good if you have coin with very low supply, under 21 million. I would suggest Guldencoin don't go with Multi Algo unless you want to make asian miners rich.

Two things:
1) The multi algo we are looking at implementing is our own, it is going to contain fixes for several issues that we have picked up which the other coins who implemented multi algo did not. If we are not happy that we can fix these we will not launch it, we are not going to launch a broken multi algo. This is proper development with proper testing not some copy and paste job and that is why it will take some time.
2) Groestl is not currently in our list of algos that will be chosen, we are at this point only considering algos  that already have widespread use on larger coins.

MaNI:
is the current implementation used by Myriadcoin and Digibyte flawed/broken?

[EFLisTheBest]

From the official Guldencoin forum: https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126

Delta is a success, it functions very well and it causes more stability. Time to look forward. The Guldencoin dev-team is now working on the next update, bringing our codebase to the same level as Bitcoin. This means that we get important bugfixes and new functions like Multi-Sig wallets and Smart Contracts, more on that later.

Within and also without the dev-team the conversation about Guldencoin’s specifications has sparked and in particular the amount of NLG that comes onto the market daily by mining. 18 months ago I thought that a daily volume of 576000 NLG should come on the market. I couldn’t predict the future and if this amount would be the perfect fit or not. You can only see that at a later stage, and that is where we are now.

A lot more knowledge has come on board. We have an incredible dev team that really knows what’s important for Guldencoin. And that is daily use. And that is why there is much talk about the daily amount of NLG coming onto the market. We think that it is too much. And we see that in the value. For me personally value doesn’t say much, but it is important for use. New users and merchants will look at the value. Buying a pizza for 10.000 or 1000 NLG is a big difference.

A lot of thinking has gone into this, but to say it quickly: we want to change the daily volume that comes onto the market. Our maximum of 576000 NLG a day is barely reached now due to multipools. It’s more like 300000 NLG per day now. Our proposal is reducing the daily amount to about 30000 to 50000 NLG.

Daily amount NLG
Officially: 576000
In reality: 300000
After change: 30000 - 50000

Total amount of NLG after 40 years
Officially: max 1700 million
In reality: max 1830 million
After change: max 1260 million

Besides that we want to bring this to market gradually, so people that get into Guldencoin at a later stage can still get a decent amount, opposed to Bitcoin. WaterLooDown will tell you more about this.

This is a huge change that will have both short-term and long-term consequences for Guldencoin. Short-term there will most likely be a price surge, because there is less supply. But the most important thing is a better balance between supply and demand, which in turn will cause more stability. This stability is very important. There are a lot of fantastic projects that would normally cause a healthy increase in value. But because of the tremendous amount of NLG this isn’t the case, and that’s disappointing for everyone. Not because there isn’t a speedy increase in value, but it’s disappointing because a stable increase in value is important for all of these projects.

We want to address new users and that is very hard now by the absense of a steady and healthy growth. It’s time to switch gears.

It’s a very huge change and I’ve only addressed a few aspects of it. Our devs will give you more information and we would like to know what you all think. This is, of course, a change we would only follow through on if the majority is in favor of this change.

I am sorry but this not very fair to the EFL community that invested in the coin because of the low rewards. A lot of us would of invested in guldencoin if we knew this was going to take place. Sure I bought some coins up just now but there will be others very angry.

[MaNI]

Can we get an official statement by MaNI if the multi algo design on coins like Myriadcoin and Digibyte is flawed also? Or is it a secret?

After looking into it extensively and much internal debate we have decided that multi-algo as it currently stands is flawed from a security perspective. While it sounds good on the surface there are some rather complex implementation issues in reality which have become apparent while looking at the code, that we are not satisfied can be solved in a reasonable way, or at least I am not confident I can solve them and I feel it is good to know your limits
I don't want to go into too much technical details but most of the flaws revolve around the fact that 'difficulty' is a somewhat arbitrary measurement, while it can be used to meaningfully compare two blocks from the same algorithm to one another, there is no real relation between the difficulties of two different algorithms. i.e. It is not really meaningful to say that a 500 difficulty Scrypt block is worth more or less than a 500 difficulty Groestl block. While it can be determined with some analysis for a specific moment in time with some work it requires a level of 'perfect information' that is not compatible with a p2p crypto currency type system, and even I as a human cannot tell you for a fact that the answer I give you now will still be the same in say six months time.
I have looked at various proposals to try and solves these issues, and what several coins have done and have found theoretical problems and flaws with all of them.
Putting those issues aside there is then the market related issue as well, which is that if you have e.g. 3 algorithms, your reward for each algorithm is 1/3, this is quite likely to attract 1/3 of the hash power for each algorithm, possible even less so in a way even if we can solve the technical issues it is not necessarily going to help form a security perspective.

This is not to say that multi-algo is 'completely broken' the above are of course theoretical i.e. it is not 100% completely trivial to attack a multi-algo coin, and you would still need a reasonable hash rate for at least  to do so, so I would not begin a complete panic about other coins. Perhaps time will show differently that the worries are unfounded.
However I would not personally use such an important coin as NLG on which to test theories, I can not in good concious recommend anything that is not 100% theoretically air tight.
There are also some 'non ideal' steps that can be taken to help prevent some of the issues which may involve lots of frequent changes to the coin which we do not want... whether other coins will do this or not depends on the coin.


It is my belief that the security would be likely worse or at best 'on par' with a standard single-algo coin, especially after taking the market factors into account, we don't want to implement something we are not 100% happy with, and we are not 100% happy with multi-algo at this point based on the flaws that have been uncovered, and based also on the possibility that there may be further flaws we are missing (Given that multi-algo has a higher complexity than single algo, simplicity is a desirable characteristic where possible)


We do however feel that the current single-algo is also not ideal, unless we can begin to attract far more hash power, so we are keeping a close eye on this while also looking into other options still.
A potential 'PoS' solution is on the cards, it would likely be added as a compliment to the current 'PoW' so we would end up with two algorithms, however again we must first do our homework and ensure we are completely happy with it before we implement it, so I don't want to make any guarantees just yet.
We will of course continue to look into all avenues to see what is best in the end.

[pijpenstelen]

From the official Guldencoin forum: https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126

Delta is a success, it functions very well and it causes more stability. Time to look forward. The Guldencoin dev-team is now working on the next update, bringing our codebase to the same level as Bitcoin. This means that we get important bugfixes and new functions like Multi-Sig wallets and Smart Contracts, more on that later.

Within and also without the dev-team the conversation about Guldencoin’s specifications has sparked and in particular the amount of NLG that comes onto the market daily by mining. 18 months ago I thought that a daily volume of 576000 NLG should come on the market. I couldn’t predict the future and if this amount would be the perfect fit or not. You can only see that at a later stage, and that is where we are now.

A lot more knowledge has come on board. We have an incredible dev team that really knows what’s important for Guldencoin. And that is daily use. And that is why there is much talk about the daily amount of NLG coming onto the market. We think that it is too much. And we see that in the value. For me personally value doesn’t say much, but it is important for use. New users and merchants will look at the value. Buying a pizza for 10.000 or 1000 NLG is a big difference.

A lot of thinking has gone into this, but to say it quickly: we want to change the daily volume that comes onto the market. Our maximum of 576000 NLG a day is barely reached now due to multipools. It’s more like 300000 NLG per day now. Our proposal is reducing the daily amount to about 30000 to 50000 NLG.

Daily amount NLG
Officially: 576000
In reality: 300000
After change: 30000 - 50000

Total amount of NLG after 40 years
Officially: max 1700 million
In reality: max 1830 million
After change: max 1260 million

Besides that we want to bring this to market gradually, so people that get into Guldencoin at a later stage can still get a decent amount, opposed to Bitcoin. WaterLooDown will tell you more about this.

This is a huge change that will have both short-term and long-term consequences for Guldencoin. Short-term there will most likely be a price surge, because there is less supply. But the most important thing is a better balance between supply and demand, which in turn will cause more stability. This stability is very important. There are a lot of fantastic projects that would normally cause a healthy increase in value. But because of the tremendous amount of NLG this isn’t the case, and that’s disappointing for everyone. Not because there isn’t a speedy increase in value, but it’s disappointing because a stable increase in value is important for all of these projects.

We want to address new users and that is very hard now by the absense of a steady and healthy growth. It’s time to switch gears.

It’s a very huge change and I’ve only addressed a few aspects of it. Our devs will give you more information and we would like to know what you all think. This is, of course, a change we would only follow through on if the majority is in favor of this change.

I am sorry but this not very fair to the EFL community that invested in the coin because of the low rewards. A lot of us would of invested in guldencoin if we knew this was going to take place. Sure I bought some coins up just now but there will be others very angry.

Why didn't you invest in guldencoin before? It's a great coin and with the only mental block being high rewards people can finally open there eyes and see what this coin has going for it already!

[patrickkivits]

From the official Guldencoin forum: https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126

Delta is a success, it functions very well and it causes more stability. Time to look forward. The Guldencoin dev-team is now working on the next update, bringing our codebase to the same level as Bitcoin. This means that we get important bugfixes and new functions like Multi-Sig wallets and Smart Contracts, more on that later.

Within and also without the dev-team the conversation about Guldencoin’s specifications has sparked and in particular the amount of NLG that comes onto the market daily by mining. 18 months ago I thought that a daily volume of 576000 NLG should come on the market. I couldn’t predict the future and if this amount would be the perfect fit or not. You can only see that at a later stage, and that is where we are now.

A lot more knowledge has come on board. We have an incredible dev team that really knows what’s important for Guldencoin. And that is daily use. And that is why there is much talk about the daily amount of NLG coming onto the market. We think that it is too much. And we see that in the value. For me personally value doesn’t say much, but it is important for use. New users and merchants will look at the value. Buying a pizza for 10.000 or 1000 NLG is a big difference.

A lot of thinking has gone into this, but to say it quickly: we want to change the daily volume that comes onto the market. Our maximum of 576000 NLG a day is barely reached now due to multipools. It’s more like 300000 NLG per day now. Our proposal is reducing the daily amount to about 30000 to 50000 NLG.

Daily amount NLG
Officially: 576000
In reality: 300000
After change: 30000 - 50000

Total amount of NLG after 40 years
Officially: max 1700 million
In reality: max 1830 million
After change: max 1260 million

Besides that we want to bring this to market gradually, so people that get into Guldencoin at a later stage can still get a decent amount, opposed to Bitcoin. WaterLooDown will tell you more about this.

This is a huge change that will have both short-term and long-term consequences for Guldencoin. Short-term there will most likely be a price surge, because there is less supply. But the most important thing is a better balance between supply and demand, which in turn will cause more stability. This stability is very important. There are a lot of fantastic projects that would normally cause a healthy increase in value. But because of the tremendous amount of NLG this isn’t the case, and that’s disappointing for everyone. Not because there isn’t a speedy increase in value, but it’s disappointing because a stable increase in value is important for all of these projects.

We want to address new users and that is very hard now by the absense of a steady and healthy growth. It’s time to switch gears.

It’s a very huge change and I’ve only addressed a few aspects of it. Our devs will give you more information and we would like to know what you all think. This is, of course, a change we would only follow through on if the majority is in favor of this change.

This plan looks much better for short and long term of guldencoin and new users will never feel they missed out. I don't know what the future holds for bitcoin when rewards keep halving. This is much better plan for stability and banks can't say it won't work because of deflation every 4 years. What new services is Patrick talking about?

https://community.guldencoin.com/t/belangrijk-guldencoin-100-switching-gears/1126/4

The services i am referring to are the tools we build to help adoption and use of Guldencoin like Nocks.nl for instance. There are a lot of other services that are scheduled too beeing released in the foreseeable future.

[Altcoinfanatic]

Can we get an official statement by MaNI if the multi algo design on coins like Myriadcoin and Digibyte is flawed also? Or is it a secret?

After looking into it extensively and much internal debate we have decided that multi-algo as it currently stands is flawed from a security perspective. While it sounds good on the surface there are some rather complex implementation issues in reality which have become apparent while looking at the code, that we are not satisfied can be solved in a reasonable way, or at least I am not confident I can solve them and I feel it is good to know your limits
I don't want to go into too much technical details but most of the flaws revolve around the fact that 'difficulty' is a somewhat arbitrary measurement, while it can be used to meaningfully compare two blocks from the same algorithm to one another, there is no real relation between the difficulties of two different algorithms. i.e. It is not really meaningful to say that a 500 difficulty Scrypt block is worth more or less than a 500 difficulty Groestl block. While it can be determined with some analysis for a specific moment in time with some work it requires a level of 'perfect information' that is not compatible with a p2p crypto currency type system, and even I as a human cannot tell you for a fact that the answer I give you now will still be the same in say six months time.
I have looked at various proposals to try and solves these issues, and what several coins have done and have found theoretical problems and flaws with all of them.
Putting those issues aside there is then the market related issue as well, which is that if you have e.g. 3 algorithms, your reward for each algorithm is 1/3, this is quite likely to attract 1/3 of the hash power for each algorithm, possible even less so in a way even if we can solve the technical issues it is not necessarily going to help form a security perspective.

This is not to say that multi-algo is 'completely broken' the above are of course theoretical i.e. it is not 100% completely trivial to attack a multi-algo coin, and you would still need a reasonable hash rate for at least  to do so, so I would not begin a complete panic about other coins. Perhaps time will show differently that the worries are unfounded.
However I would not personally use such an important coin as NLG on which to test theories, I can not in good concious recommend anything that is not 100% theoretically air tight.
There are also some 'non ideal' steps that can be taken to help prevent some of the issues which may involve lots of frequent changes to the coin which we do not want... whether other coins will do this or not depends on the coin.


It is my belief that the security would be likely worse or at best 'on par' with a standard single-algo coin, especially after taking the market factors into account, we don't want to implement something we are not 100% happy with, and we are not 100% happy with multi-algo at this point based on the flaws that have been uncovered, and based also on the possibility that there may be further flaws we are missing (Given that multi-algo has a higher complexity than single algo, simplicity is a desirable characteristic where possible)


We do however feel that the current single-algo is also not ideal, unless we can begin to attract far more hash power, so we are keeping a close eye on this while also looking into other options still.
A potential 'PoS' solution is on the cards, it would likely be added as a compliment to the current 'PoW' so we would end up with two algorithms, however again we must first do our homework and ensure we are completely happy with it before we implement it, so I don't want to make any guarantees just yet.
We will of course continue to look into all avenues to see what is best in the end.

Gracias!
Very lenghty and satisfying answer.
So basicly it is not true that the security of multi-pow coins like myriadcoin and digibytecoin are better than standard single-algo coins? Why do they market themselves with better security? Is it to trick people? I have bought many DGB so i hope it was a good choice.

[EFLisTheBest]

Why didn't you invest in guldencoin before? It's a great coin and with the only mental block being high rewards people can finally open there eyes and see what this coin has going for it already!

The dev should of started a new coin and let this one die. Everyone know the supply was crushing this coin so no one invested.

[pijpenstelen]

Why didn't you invest in guldencoin before? It's a great coin and with the only mental block being high rewards people can finally open there eyes and see what this coin has going for it already!

The dev should of started a new coin and let this one die. Everyone know the supply was crushing this coin so no one invested.

The dev should of started a new coin and let this one die.
What are you smoking?

Everyone know the supply was crushing this coin so no one invested.
Yes, this is why they making the change genius!

[MaNI]

I am sorry but this not very fair to the EFL community that invested in the coin because of the low rewards. A lot of us would of invested in guldencoin if we knew this was going to take place. Sure I bought some coins up just now but there will be others very angry.

Absolute fairness is great as an ideal but completely impractical and unachievable in reality. Would it be fair on those who have already invested to either leave things to continue on the wrong path or give up entirely? Life I am afraid is full of compromises, it is very rare to find yourself making a decision that is not going to be 'unfair' for somebody, this is why concepts of greater good etc. exist.

A quote that comes to mind "If you're not pissing someone off, you probably aren't doing anything important"