I know not what course others may take, but you can have my ProtoShares when you pry them from my cold dead hands.-- Patrick Henry and Charlton Heston
I wonder what would have happened if they hadn't made the change and mining was done in three or four weeks. Seems like that might be better given the purpose of the project is to give shares of invictus innovations future products to people starting on January 1st.
Protoshares that are mined after january first will be much less valuable unless they're basically bundled with a protoshare - Can someone from Invictus explain how this will work? If it's a fork it seems like once the issuance date passes these will have missed the boat.
Maybe it would be better to instead do a 2 month mining frenzy then wait 1 month of hot-potato trading as people speculate on the value of what the Protoshare will deliver to them (Bitshares), then whoever is holding the PTS gets a bitshare, and the protocoins start trading based on speculation of the value of the next project to be forked from it.
I also think it might be better for IPOcoins like this to simply have 10% of the mining reward go to the company being funded. 90% reward is plenty to incentivize miners and then you don't have to have this nutty drop everything to mine strategy that saw bytemaster run himself on no sleep and lose funds because it was bugged alpha code. If this were just an altcoin and you were just developing this altcoin that would be very unpopular but given the point of this coin (to raise funds and support the development of blockchain-products) I think 10% is very modest and would better align the developers motives with doing the best for the community instead of scrambling to grab everything they can or else lose out on their own creation.
What say you?
I wonder what would have happened if they hadn't made the change and mining was done in three or four weeks. Seems like that might be better given the purpose of the project is to give shares of invictus innovations future products to people starting on January 1st.
Protoshares that are mined after january first will be much less valuable unless they're basically bundled with a protoshare - Can someone from Invictus explain how this will work? If it's a fork it seems like once the issuance date passes these will have missed the boat.
Maybe it would be better to instead do a 2 month mining frenzy then wait 1 month of hot-potato trading as people speculate on the value of what the Protoshare will deliver to them (Bitshares), then whoever is holding the PTS gets a bitshare, and the protocoins start trading based on speculation of the value of the next project to be forked from it.
I also think it might be better for IPOcoins like this to simply have 10% of the mining reward go to the company being funded. 90% reward is plenty to incentivize miners and then you don't have to have this nutty drop everything to mine strategy that saw bytemaster run himself on no sleep and lose funds because it was bugged alpha code. If this were just an altcoin and you were just developing this altcoin that would be very unpopular but given the point of this coin (to raise funds and support the development of blockchain-products) I think 10% is very modest and would better align the developers motives with doing the best for the community instead of scrambling to grab everything they can or else lose out on their own creation.
What say you?
As an introductory launch i believe it is going as well as can be, it has brought together some serious minds with an eye for dvelopment. For something to be mined in a short span of time would raise questions of insider information and scandal that would hurt the venture. I think that a new chain is in order, perhaps in a few days. It would essentially be the beta to protoshares' alpha. Many miner complained about the absence of pools, the absence of stand alone miners and other infrastructural needs which can now be addressed.
As a benefit of have this beta chain, improvements can be made on block times, retarget algo, chain integrity and mineability. Also this invites the slower crowd that is only catching on about invictus now, they join the crowd and the community becomes larger. I believe that Invictus should consider one of my older crypto ideas-- Currency Suiting. This is to have a set of currencies under their wing which are cross-tradable, each with it's own characteristics. That would then Justify a small premine, with which to float the inter-change. Say you have one coin that is good for trade--Proto, but you would like to sign up for something that Invictus offers, you can buy the required currency using your proto , then sign up.