This topic contains 1 reply, has 2 voices, and was last updated by Anonymous 3 years, 3 months ago.
|June 13, 2014 at 2:48 pm #319|
Monday – April 21, 2014
Recently a small but vocal group of disgruntled early adopters has been pushing for a fork of MazaCoin to alter the coinbase and reward structure. They are admittedly doing so in hopes of artificially raising the market price of MazaCoin. This petition is rejected for the following reasons:
1) When the human garbage known as Alan Greenspan of the US Federal Reserve adjusts the USD money supply in order to enrich a handful of individuals, he is doing exactly what is being asked of us. There is no difference whatsoever, and this is exactly what the Crypto Currency movement is fighting against. This sort of thing goes against every principal laid down by Satoshi Nakamoto and all the other founders of this movement. It is not only un-ethical, it is evil. It is the game of the oppressor.
It was once said to us by one of the spokespersons for this group calling for a fork: “well sometimes you just need to adapt to circumstances”. No, that is exactly what this movement is against. What is being demanded is not adaption, it is sinister manipulation to please a few MazaCoin bag holders who are pissed off they can’t get their way. Changing the rules mid-game to enrich a few angry MazaCoin holders who failed to heed our well published advice NOT to expect any returns for years is not only un-ethical, it is the very manipulative evil that we fight against as a movement.
2) The coinbase and reward are set exactly as we want them. We have nearly a decade of work adding dozens of tribes into the MazaCoin Tribal Compact, not to mention introducing MazaCoin to millions of users, investors and merchants. Everyone knew the Master Coin Formula going in. We didn’t hide anything, the Master Coin Formula and Protocol were published clearly on the website from well before our public launch. MazaCoin was always clearly a very inflational coin, there was no secret about this. And as we warned numerous times in multiple forums investing in such an inflational currency and expecting immediate returns is extremely risky. We advised against this.
3) While we may hard fork MazaCoin in the future in order to add features, we will NEVER change the Master Coin Formula, as is being demanded. And such a future hard fork will take place from a position of strength, not at the very beginning of the coins life.
From long experience in the Alt Coin world, we can tell you exactly what would happen if we hard forked MazaCoin and changed the coinbase and reward as is being demanded by these greedy and disgruntled individuals. The price of MazaCoin would indeed rise, for a day or two – maybe even a week. Just long enough to let these individuals make the fast buck they are demanding. Then it would plummet to far below what it is today, and never recover. It would kill MazaCoin so a few people who apparently never understood what MazaCoin is all about could make their pay day.
Now some of these individuals have bragged how huge their bags are, and threatened to dump their coins on the market. We have been watching the many exchanges that carry MazaCoin and we would say many of them already are doing this. But notice the volume, tens of thousands a day across a dozen exchanges. That means as fast as these individuals are attempting to sabotage MazaCoin by dumping, other individuals with different interests are buying their cheap coins from them. No doubt this process will continue, and frankly we encourage it. Because those buying in now will obviously have different and no doubt better expectations and motives.
The idea that there are simply too many MazaCoin is ridiculous and fails basic mathematical scrutiny. There are currently 70 BILLION DogeCoin already in circulation. That is 35 times the entire MazaCoin coinbase after five years. And yet, as I write this we are trading 50 satoshi higher than DogeCoin. This despite the best efforts of the racist trolls and the greedy bag holders to tear us down.
And this idea that MazaCoin is dying is ludicrous. We have a saying in the Crypto Currency business: a coin is not dead so long as one miner is mining it, and one exchange is trading it. With an average of 150 Th/s on our blockchanin and over a dozen exchanges globally trading MazaCoin at quite decent volume I would say we are very far from dead.
MazaCoin is an amazing and historic experiment. One that has gone far better than any of the MazaCoin Development Team ever hoped, and we are only three months along. Those who see and understand what we are doing are the individuals buying your cheap coins. Those who don’t comprehend or do not care are the ones demanding that we kill MazaCoin to satisfy their greed. This will never happen.
“The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime. Institutional momentum is to stick with the last decision.” ~~ Satoshi Nakamoto – Master Coin Maker
|October 4, 2014 at 7:21 am #392|
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