As I'm not working on this for any logo bounty, I'll be pretty blunt and say I don't like that direction at all. Is there any chance this can be reconsiderred?. The coin should be easily recognisable even at small scale this design wouldn't work as there's no element that stands out when the scale is reduced. It shouldn't need the text smartcoin on the face for the same reason.
I'm not involved with the logo at all, but I hold a decent chunk of SMC and I've done my share of graphic design work, so I'll also be blunt (though please understand that while it's easy to throw stones from the peanut gallery, I do truly appreciate the work that has gone into, and continues to go into, SMC):
I don't see the point of the spinning coin, and I think it will be very hard to pull off in a logo in any form. Any sense of 'spinning' will come from blurring or other gradient colouration, which will a) be hard to identify at anything but the highest resolutions and b) take away from the sleekness and simplicity that should be the hallmark of any good logo. Aside from being awkward from a graphic-design perspective, a spinning coin has no connection to SmartCoin--sure it's a coin, but I'm not seeing the smart/intelligence angle at all (i.e., the role currently being filled by the light bulb). About the only thing it would work as would be a 90's throwback web 1.0 spinning coin GIF or something. Not sure hipster irony has a place in serious marketing though.
Notwithstanding the slow, steady progress and dedicated devs, this coin has been plagued by mediocre logos from the start. The old grey on grey, sans-serif S was utterly nondescript and impossible to identify at small scales. The current lightbulb logo is at least simple and clear, but lacks the kind of polish needed for a serious project. The proposed coin-flipping logo looks like someone squished a fly on a quarter.
The orange re-brand logo is by far the most professional and sleek looking, but is pretty busy for an actual logo--sort of like the designer was like, oh, orange is badass, let's start with that, oh, let's toss in circuit boards, because it's totally a digital currency, oh, and can't forget the sweet light FX and metallic fades.... It really does look 'cool', but 'cool' isn't the same as 'good, clear, immediately identifiable logo'. Think of the Nike swoosh or something--no Photoshop masturbation there.
Anyway, end rant. Thanks again for all the time and work, but bottom line, please do consider going with a simpler, clearer branding strategy. Conversely, if it has to be one of those on the table right now, it's gotta be either the light bulb or the orange circuit boards.
