Topic: [ABANDONED] [BPC] BitpopCoin | X11 PoS 7% | Hero Member Dev | No IPO/Premine - page 11. (Read 42244 times)

Anyone have any thoughts on halving the block reward every X blocks?

I'm definitely thinking of decreasing total coins and decreasing rewards in later blocks

That's great, does anyone have any ideas on how we can stand out from bitcoin / litecoin in terms of reward structure down the line?

I think long term POW is good. POS is great, but I believe POW gives a much bigger incentive for miners to support the network.

This sounds impossible, but could there be a way to never end POW, and still have large enough block rewards for miners incentive in 5, 10, 20+ years from now, without having the total coins get completely out of control?

Perhaps also implementing something along the lines of Freshcoin's % based fees?

There has to be a way, I'm thinking of a dynamic reward structure / block halving rate...I will work on a few ideas and post them for opinions.

Managing the reward structure is important. I thought things like that were set in the strategic planning of coins but wtfdik? However, what's more important is coin value. Difficulty will rise as more miners come but miners will only come if it's profitable and the 'best' way for a coin to be profitable is for the mere fundamentals of digital currency to take hold. That means that some tangible business aspect of the coin is exploited to the affect that the digital ledger is actually used as the financial mechanism for which it was always intended.

For now, there's isn't much exciting happening here. But I'm always checking in... waiting for that news, "Such and such business agrees to use BPC to transact this and that financial accounting" or whatever it may be. That's where the real BPC bounties should be: tangible business agreements that put the coin to the good use it was always intended. If only I knew how to make that happen... Fortunately coins like LTC and BTC have made that happen so they serve as proof that this is possible so now it's a matter of marketing the X11 or specific BPC benefits over LTC and BTC. So... that's what the CEO is foucsed on, right?

appooler

newbie

Activity: 28

Merit: 0

Quote from: waxo on July 23, 2014, 12:58:27 PM

Anyone have any thoughts on halving the block reward every X blocks?

I'm definitely thinking of decreasing total coins and decreasing rewards in later blocks

That's great, does anyone have any ideas on how we can stand out from bitcoin / litecoin in terms of reward structure down the line?

I think long term POW is good. POS is great, but I believe POW gives a much bigger incentive for miners to support the network.

This sounds impossible, but could there be a way to never end POW, and still have large enough block rewards for miners incentive in 5, 10, 20+ years from now, without having the total coins get completely out of control?

Perhaps also implementing something along the lines of Freshcoin's % based fees?

There has to be a way, I'm thinking of a dynamic reward structure / block halving rate...I will work on a few ideas and post them for opinions.

boki15

hero member

Activity: 742

Merit: 500

lunix wallet is IN

that's a good point .

Dev what about my bounties ?
in total 22.000 BPC

15000 BPC: For Implementing encrypted messages ( fully operational )
5000 BPC For Android Wallet
1000 BPC: For Online Wallet
1000 BPC: For Block Explorer+richest list

it's just the beginning, i am still working on what features and changements i would love to see in this coin .

Can you add this on the OP ?

1000 BPC has been sent to vboki15 ( thanx for the linux wallet )

Thanks, I've received it

waxo

hero member

Activity: 630

Merit: 500

lunix wallet is IN

that's a good point .

Dev what about my bounties ?
in total 22.000 BPC

15000 BPC: For Implementing encrypted messages ( fully operational )
5000 BPC For Android Wallet
1000 BPC: For Online Wallet
1000 BPC: For Block Explorer+richest list

it's just the beginning, i am still working on what features and changements i would love to see in this coin .

Can you add this on the OP ?

1000 BPC has been sent to vboki15 ( thanx for the linux wallet )

boki15

hero member

Activity: 742

Merit: 500

waxo

hero member

Activity: 630

Merit: 500

Quote from: provenceday on July 23, 2014, 10:01:27 AM

Anyone have any thoughts on halving the block reward every X blocks?

I'm definitely thinking of decreasing total coins and decreasing rewards in later blocks

+1 500M is to much ....if you change it to 50M, will be better, but i dont know if it's possible...

bitpop

legendary

Activity: 2912

Merit: 1060

Anyone have any thoughts on halving the block reward every X blocks?

I'm definitely thinking of decreasing total coins and decreasing rewards in later blocks

Thanks, how about ask bittrex add us?

Working on it

provenceday

legendary

Activity: 1148

Merit: 1000

Anyone have any thoughts on halving the block reward every X blocks?

I'm definitely thinking of decreasing total coins and decreasing rewards in later blocks

Thanks, how about ask bittrex add us?

bitpop

legendary

Activity: 2912

Merit: 1060

Quote from: appooler on July 22, 2014, 10:46:57 PM

Anyone have any thoughts on halving the block reward every X blocks?

I'm definitely thinking of decreasing total coins and decreasing rewards in later blocks

bitpop

legendary

Activity: 2912

Merit: 1060

grendel25

legendary

Activity: 2296

Merit: 1031

Quote from: ocminer on July 22, 2014, 10:15:43 PM

Quote from: grendel25 on July 22, 2014, 08:51:10 PM

Quote from: grendel25 on July 22, 2014, 09:17:23 AM

Quote from: ocminer on July 22, 2014, 10:15:43 PM

I think we should have a calculator in the wallet.

Speaking of calculations... any way to calculate how long the average time to find a block is? Where are the network hash and current difficulty info posted? How would i use that stuff to calculate the avg time to find a block? sorry, I'm not a math wiz... need formulas like a baby.

And yes, a bitpop themed coin sounds nice. Is there a bitpopcoin mascot?

thx

for now you can use this http://web2.0calc.com/ Cheesy

That doesn't help. Anyone else? Looking for where I can find what I need to 'estimate' time per block given a certain hashrate.

time = difficulty * 2**32 / hashrate

For example, using the above formula, we can calculate how long it will take for bpc.altpooler.com to find a block.

Currently, bpc.altpooler.com has a hashrate of about 150 MH/s OR 150,000,000 hashes per second.

The current difficulty at the time of writing this post is 17.14380310

We plug those numbers into the formula, and we get the number of seconds expected to find a block.

time = 17.14380310 * 2**32 / 150000000

This results in 472.000472074 seconds. We divide by 60 to get minutes.

472.000472074 / 60 = 7.866674535 minutes

Does that help?

Why 2**32 ? Not 2**24 ?

Good question...now I am doing some research

BTW, my math is OFF in the above calculations. The hashrate used to get 472.000472074 seconds was 156000000 not 150000000. I posted 150000000 as the hashrate to keep it simple, but never re-ran the calculation using that number.

It's still better than what others posted and it got me closer by referring to some other explanations and calcs for bitcoin and litecoin. I'm still trying to understand the ** notation... nevermind, I've moved on.

What I gather is that I take 2^32 and mutiply that by the difficulty and then divide by the hash rate. If I were to rewrite the notation for my purposes I'd go with:

Code:

time to block in hours = ((2^32*difficulty) / hashrate)) / 60 / 60

That puts me at about 1 block per 4 hours with my two 750ti cards and that's about spot on with what I'm actually getting.

appooler

newbie

Activity: 28

Merit: 0

Quote from: grendel25 on July 22, 2014, 08:51:10 PM

Quote from: grendel25 on July 22, 2014, 09:17:23 AM

I think we should have a calculator in the wallet.

Speaking of calculations... any way to calculate how long the average time to find a block is? Where are the network hash and current difficulty info posted? How would i use that stuff to calculate the avg time to find a block? sorry, I'm not a math wiz... need formulas like a baby.

And yes, a bitpop themed coin sounds nice. Is there a bitpopcoin mascot?

thx

for now you can use this http://web2.0calc.com/ Cheesy

That doesn't help. Anyone else? Looking for where I can find what I need to 'estimate' time per block given a certain hashrate.

time = difficulty * 2**32 / hashrate

For example, using the above formula, we can calculate how long it will take for bpc.altpooler.com to find a block.

Currently, bpc.altpooler.com has a hashrate of about 150 MH/s OR 150,000,000 hashes per second.

The current difficulty at the time of writing this post is 17.14380310

We plug those numbers into the formula, and we get the number of seconds expected to find a block.

time = 17.14380310 * 2**32 / 150000000

This results in 472.000472074 seconds. We divide by 60 to get minutes.

472.000472074 / 60 = 7.866674535 minutes

Does that help?

Why 2**32 ? Not 2**24 ?

Good question...now I am doing some research

BTW, my math is OFF in the above calculations. The hashrate used to get 472.000472074 seconds was 156000000 not 150000000. I posted 150000000 as the hashrate to keep it simple, but never re-ran the calculation using that number.

grendel25

legendary

Activity: 2296

Merit: 1031

Quote from: grendel25 on July 22, 2014, 08:51:10 PM

Quote from: grendel25 on July 22, 2014, 09:17:23 AM

I think we should have a calculator in the wallet.

Speaking of calculations... any way to calculate how long the average time to find a block is? Where are the network hash and current difficulty info posted? How would i use that stuff to calculate the avg time to find a block? sorry, I'm not a math wiz... need formulas like a baby.

And yes, a bitpop themed coin sounds nice. Is there a bitpopcoin mascot?

thx

for now you can use this http://web2.0calc.com/ Cheesy

That doesn't help. Anyone else? Looking for where I can find what I need to 'estimate' time per block given a certain hashrate.

time = difficulty * 2**32 / hashrate

For example, using the above formula, we can calculate how long it will take for bpc.altpooler.com to find a block.

Currently, bpc.altpooler.com has a hashrate of about 150 MH/s OR 150,000,000 hashes per second.

The current difficulty at the time of writing this post is 17.14380310

We plug those numbers into the formula, and we get the number of seconds expected to find a block.

time = 17.14380310 * 2**32 / 150000000

This results in 472.000472074 seconds. We divide by 60 to get minutes.

472.000472074 / 60 = 7.866674535 minutes

Does that help?

That does help. Thanks

ocminer

legendary

Activity: 2688

Merit: 1240

Quote from: grendel25 on July 22, 2014, 08:51:10 PM

Quote from: grendel25 on July 22, 2014, 09:17:23 AM

Quote from: grendel25 on July 22, 2014, 08:51:10 PM

I think we should have a calculator in the wallet.

Speaking of calculations... any way to calculate how long the average time to find a block is? Where are the network hash and current difficulty info posted? How would i use that stuff to calculate the avg time to find a block? sorry, I'm not a math wiz... need formulas like a baby.

And yes, a bitpop themed coin sounds nice. Is there a bitpopcoin mascot?

thx

for now you can use this http://web2.0calc.com/ Cheesy

That doesn't help. Anyone else? Looking for where I can find what I need to 'estimate' time per block given a certain hashrate.

time = difficulty * 2**32 / hashrate

For example, using the above formula, we can calculate how long it will take for bpc.altpooler.com to find a block.

Currently, bpc.altpooler.com has a hashrate of about 150 MH/s OR 150,000,000 hashes per second.

The current difficulty at the time of writing this post is 17.14380310

We plug those numbers into the formula, and we get the number of seconds expected to find a block.

time = 17.14380310 * 2**32 / 150000000

This results in 472.000472074 seconds. We divide by 60 to get minutes.

472.000472074 / 60 = 7.866674535 minutes

Does that help?

Why 2**32 ? Not 2**24 ?

appooler

newbie

Activity: 28

Merit: 0

Quote from: grendel25 on July 22, 2014, 09:17:23 AM