Topic: [ANN] [BTQ] BitQuark | Super secure hashing | CPU mining - page 43. (Read 162313 times)

UPDATE: I have added "Number of Transactions" & "Money Supply" to the client. The Money Supply updates automatically with every new block 

I'll work on adding that into the upcoming release...until then you can check money supply via bitquark.info or by running this command in the RPC Console gettxoutsetinfo It will display the following info along with number of coins minted:

{
"height" : 310866,
"bestblock" : "00000000167a71e7ac5e792495d2139e0c6763b540f2832bb6fa4aade1b99810",
"transactions" : 252253,
"txouts" : 3074371,
"bytes_serialized" : 88833189,
"hash_serialized" : "b0cc18e3f2e54f63e5b589887229904c2409416c71c491f9a73acf9bd3fc9418",
"money_supply" : 777165.00000000
}

I agree, I would like to see transaction count in wallet and current existing coin count that updates after every new block.

Which logo do you guys think I should go with??

The mining/transaction icons I could do without, no offense, but it makes it look a little cheezy like the doge wallet.  A nice feature some coins have is under the immature view there's a # of transactions in the wallet.

I think so too! This release will also be a static version, so no more DLL files!!!

Looks pretty damn awesome!

Here are some screen shots of the next client update. What do you guys think??

The exchange market would still be valid. Think of this method as being the reverse of the current one. Instead of price rising and then hash rate rising...this method uses the rise in hash rate to set the price. It can be used as a guide to determine price based on supply and demand in which the supply would of course be the cons mined and the demand would be the hash rate. This is pretty much the same method that is used today with about all markets. Right now it's just an idea and I figured I would talk to the community about it and get everyone's input.

If you want to beat the demise quarkcoin is facing, we need people who want BTQ.  Merchants selling good for BTQ.  A dozen plus pools available, marketing and advertising, faucets so the non-technicals and non-miners can aquire some.

If enough people see they can get real things for BTQ, it will help draw interest.  I sell stuff occasionally on craigslist and say I'll accept cash, BTC or BTQ, but I'm just one person and while occasionally people ask about BTC and BTQ, most just want to give cash for it.

I understand what youre trying to do but that would eliminate the free market exchanges right?

Do you guys understand how this would work and how it could help the network from meeting the demise that Quarkcoin is facing.

This is the formula I've came up with so far for determining BTQ's value:

((Diff*Reward)/(Money Supply))*RewardPercentage

ex. 1 - Diff = 250 ; Block Reward = 2.5 ; Money Supply = 741,270 ; Block Reward % = 100%
((250*2.5)/(741270))*100 = $0.0843

ex. 2 - Diff = 500 ; Block Reward = 2.5 ; Money Supply = 741,270 ; Block Reward % = 100%
((500*2.5)/(741270))*100 = $0.1686

ex. 3 - Diff = 250 ; Block Reward = 2.5 ; Money Supply = 850,000 ; Block Reward % = 100%
((250*2.5)/(850000))*100 = $0.0735

ex. 4 - Diff = 1000 ; Block Reward = 2.5 ; Money Supply = 850,000 ; Block Reward % = 100%
((1000*2.5)/(850000))*100 = $0.294

So as you can see above, the value is based on Difficulty and Money Supply. So what happens when the block reward halves?

ex. 5 - Diff = 1000 ; Block Reward = 1.25 ; Money Supply = 850,000 ; Block Reward % = 200%
((1000*1.25)/(850000))*200 = $0.294

ex. 6 - Diff = 1000 ; Block Reward = 0.625 ; Money Supply = 850,000 ; Block Reward % = 400%
((1000*0.625)/(850000))*400 = $0.294

You need to just double the Block Reward % when halving occurs.

As you can see from the examples, as Money Supply increases and if Difficulty remains the same, then the value will drop. If the Difficulty increases, the value will rise.

I will work on the formula some more to tweak it...I may replace the difficulty with the Network Hashrate. If I replace the difficulty with the network hashrate (based on MH/s), then it would looks something like this.

(((NetworkHashrate)*Reward)/(MoneySupply))*RewardPercentage

ex. 7 - Hashrate = 125MH/s ; Block Reward = 2.5 ; Money Supply = 741,270 ; Block Reward % = 100%
(((125)*2.5)/(741270))*100 = $0.04

ex. 8 - Hashrate = 300 ; Block Reward = 2.5 ; Money Supply = 741,270 ; Block Reward % = 100%
(((300)*2.5)/(741270))*100 = $0.10

So what happens if the Network Hashrate increase into the GH/s range?

ex. 9 - Hashrate = 2GH/s ; Block Reward = 2.5 ; Money Supply = 741,270 ; Block Reward % = 100%
(((2000)*2.5)/(741270))*100 = $0.67

ex. 10 - Hashrate = 25GH/s ; Block Reward = 2.5 ; Money Supply = 741,270 ; Block Reward % = 100%
(((25000)*2.5)/(741270))*100 = $8.43


As you can see from the above examples, as the Network Hashrate increases, then the value of BTQ will increase as it's dependent on both the Network Hashrate and Money Supply. This will also secure the network as the more hashrate, the more valuable BTQ will become! So what do you guys think about this way of decentralizing and breaking the link between BitQuark and Bitcoin??

You might want to update pools list, I just checked:


and total hashes from pools: 116581000
hashes from solomining: 26 364 105

I want to workout a way to calculate the value of BTQ based on power usage to mine and difficulty of obtaining BitQuark. The harder it is to mine, the more value BTQ will hold. Even though right now the exchange value is low, it will eventually catchup to what we set BTQ's value to...much like supply and demand determines values.

I don't think you will get a 270x for 800BTQ. But then again, how do we define BTQ a standard value?

Ok, for 800 btq 

Any local BTQ owners in need of a kayak?

http://miami.craigslist.org/brw/bar/4519979694.html

I want radeon x9 270x for 700 btq) I have no more)

who will offer?

hi,
i am wholeseller of ex-lease servers, network and all kind it of networking it, can sell for bitquark, just let me know what u need, we have ex-lease and new equipment

we can only sho in eu

available equipment is priced in PLN currency 1pln is 1/3usd

all with 12months warranty, 30% rabate if pay in btq

lists of equipment:

http://allegro.pl/listing/user/listing.php?us_id=24365254

and

http://allegro.pl/listing/user/listing.php?us_id=13819542

if u need translation or any help with items please feel free to ask, small items we can send worldwide, up to 10kg, bigger only european union

we have more equipment not listed worth over 3 millions usd