Why should I mine Goldcoin?

[ishmeister]

I'm planning to put a reasonable amount of money into mining one or more Altcoins. Litecoin is the obvious one and has a reasonably good market value now but I am definitely open to alternatives. Litecoin also has a narrative and is well described by both detractors and supporters. E.g. https://en.bitcoin.it/wiki/Litecoin has a slightly negative angle to the description.

However, what I find with Goldcoin is this:

GoldCoin (GLD) - an improved version of Litecoin using scrypt as a proof of work scheme.

2.5 minute block targets up till block 45000
2 minute block targets there after
504 blocks per difficulty retarget up to block 45000
60 blocks per difficulty retarget thereafter
Block rewards in order:

200 Block @ 10000 GLD
2000 Blocks @ 1000 GLD
42800 Blocks @ 500 GLD
(The values below are post-fork in development/dispute values)
The Block reward drops to 45 GLD
Reward for the years thereafter is 50 divided by (1.1 + 0.49*every year after fork)
Total Reward Blocks: 26,325,000
Total Coins Produced: 123,423,900 (including 50 coin 0th block)
The default ports are 8121 (connect) and 8122 (fson rpc)

What does this mean to the layperson? How is it an improvement over Litecoin? What in particular is the rationale behind its features?

I also found this:

https://www.gldtalk.org/index.php?topic=738.0

Which is not described on the official page. I assume that is about the security of the network. Is that not important to include in the narrative?

It is argued that Bitcoin is following a technology adoption curve, but we've all seen "killer" technology be surpassed by better alternatives in short order. So how is Goldcoin a better technology/currency/store of value and why should I be mining it now instead of Litecoin or indeed anything else?

[Alty]

There are people like myself that will be investing and pushing for Goldcoins success.

Press releases and extra publicity for Goldcoin are on their way.

Because of an accumulated effort via community members 'who see the potential' in Goldcoin, you should expect to see the price of GLD rise in the coming months,  thus making your mining investment more profitable than the current price index.

Good luck choosing your alt coin. For me, it's all gold! 

[MicroGuy]

So how is Goldcoin a better technology/currency/store of value and why should I be mining it now instead of Litecoin or indeed anything else?

You are asking some very good questions even though your title is a complex/leading question.

This has been covered before to some degree: https://www.gldtalk.org/index.php?topic=568.0

Let us remember that Goldcoin is dynamic not static. It is being evolved and people that are intelligent enough to ask these types of questions are exactly the sort of community members we need. Now if we change your question to "How can I make Goldcoin better?" then our energies become aligned and we all start moving in the same direction as we travel closer to our destination of becoming the top digital currency. See: http://coinmarketcap.com.

The way I look at it, we took the best name possible "Gold" (something static) and proceeded to build the best digital currency around that name. This is a work in progress and we welcome your help in building and mining this wonderful coin.

If you have any other mining questions, please feel free to ask.

[ishmeister]

Thanks for the replies.

Hey, MicroGuy, are you really offering 500 Goldcoins for joining on the 20th? As it happened, that's when I joined. My address is:

E53GCXUzAAayoD6wA2bgjxSMrbiyDz5wAB

I've mined some so far but in an experimental way - both CPU and GPU based mining. I haven't tried to mine any litecoins yet, so in fact Goldcoin is my first port of call on this journey.

I'll carry on reading around and let you know if I have any additional questions.

By the way, I'm a programmer by trade not really a layman but my question really is about the story/narrative/messaging behind Goldcoin. I cannot imagine a future in which there is only one dominant crypto-currency. Even if Bitcoins are divisible their supply is too just low. Also, the link you provided talks about pump and dump, but there are so many Bitcoins in so few hands (Nakamoto it is claimed has 1 million - if he is still alive, who knows). Not to mention that mining SHA-256 coins is a massive arms race. People need to think seriously about these issues - which is what I'm doing

Cheers!