Topic: [ANN] Elacoin | Released | Fair Elastic Scrypt Mining | No Premine - page 94. (Read 133955 times)
May 13, 2013, 05:40:15 AM
Waiting!!!!!!!!!
May 13, 2013, 05:26:56 AM
I'm will have to agree with the earlier comments. Making the awards equal to the hashing power is going to cause massive inflation, even if you halve block rewards every 9 months. Does this coin have an eventual maximum number of coins that will be generated?
The award is not equal to the hashpower. It is increased by the hashpower, however it is not 1:1.So this is essentially the same as all coins ever, just caps out faster, so more mining up front....this may make it a short lived coins if transaction cannot sustain miners
Difficulty 50: ~3 coin reward for block ID 1
Difficulty 100: ~5 coin reward for block ID 1
Difficulty 500: ~21 coin reward for block ID 1
Not taking in account the per-block block reward decreases.
Explain to me "more mining up front" when later in it's lifecycle, the coin reward is still high enough to encourage new miners to join in (even without much hashing power), while inflation is controlled because it reduces to half every 9 months?
It doesn't "cap out" really, if the difficulty increases to a billion then there will be millions of coin rewards. The launch version has an incredibly high max coins (billions, like PPCoin), so it's not going to be reached. Actual amount of coins in circulation? My guess is a few hundred thousand / million.
May 13, 2013, 05:24:22 AM
I'm will have to agree with the earlier comments. Making the awards equal to the hashing power is going to cause massive inflation, even if you halve block rewards every 9 months. Does this coin have an eventual maximum number of coins that will be generated?
The award is not equal to the hashpower. It is increased by the hashpower, however it is not 1:1. May 13, 2013, 05:21:04 AM
You need to recompile with a new genesis block anyways! So it will always be a race of who can compile the fastest. That's impossible to change, compiling and downloading are going to take time, and I can't have DRM telling you what to do or not do.
May 13, 2013, 05:19:21 AM
My apologies, source code has not being released because when the genesis block is released you would need to recompile anyways.
It's not a valid a reason not to release source code.If you really want everything to be fair, you should release source code with unofficial/testnet genesis block and commit real genesis block at release time.
Otherwise it'll be a race "Who can compile it faster?".
The source code is out.
Just have some patience, will you? People complain about sudden announcements, so I pre-announce it to make it fair. People then demand the source code, "unofficial" genesis blocks, and I think someone set up a pool for it already ?? Seriously.
May 13, 2013, 05:17:58 AM
I'm will have to agree with the earlier comments. Making the awards equal to the hashing power is going to cause massive inflation, even if you halve block rewards every 9 months. Does this coin have an eventual maximum number of coins that will be generated?
The award is not equal to the hashpower. It is increased by the hashpower, however it is not 1:1.Quote
Translation for non-coders: 100 million can be mined.
100 million can be mined, that's the current limit in the code, but say in 10 years the block reward is going to be a couple of satoshis of elacoins even with a very high amount of hashpower 
May 13, 2013, 05:09:11 AM
My apologies, source code has not being released because when the genesis block is released you would need to recompile anyways.
It's not a valid a reason not to release source code.If you really want everything to be fair, you should release source code with unofficial/testnet genesis block and commit real genesis block at release time.
Otherwise it'll be a race "Who can compile it faster?".
The source code is out.
May 13, 2013, 05:07:54 AM
1 day notice is not enough notice you need about 3 days to make it credible
But then where do you draw the line? Is 2.38 days credible?
May 13, 2013, 05:06:00 AM
1 day notice is not enough notice you need about 3 days to make it credible
also this does not make logical sence
The more computational power you throw at it, the more each block will give.
The reward is halved every nine months to preserve the coin's value.
if there is a limit per block then, thus increasing hash, must mean the usual you will get more from that block in proportion to your hash rate. This maths does not add up
also this does not make logical sence
The more computational power you throw at it, the more each block will give.
The reward is halved every nine months to preserve the coin's value.
if there is a limit per block then, thus increasing hash, must mean the usual you will get more from that block in proportion to your hash rate. This maths does not add up
May 13, 2013, 05:04:16 AM
How many coin can be mined?
Quote from: centenary on Today at 09:27:05 AM
I'm will have to agree with the earlier comments. Making the awards equal to the hashing power is going to cause massive inflation, even if you halve block rewards every 9 months. Does this coin have an eventual maximum number of coins that will be generated?
-static const int64 MAX_MONEY = 84000000 * COIN; // Litecoin: maximum of 840k coins
+static const int64 MAX_MONEY = 100000000 * COIN; // High limit
Translation for non-coders: 100 million can be mined.
May 13, 2013, 04:59:29 AM
How many coin can be mined?
Quote from: centenary on Today at 09:27:05 AM
I'm will have to agree with the earlier comments. Making the awards equal to the hashing power is going to cause massive inflation, even if you halve block rewards every 9 months. Does this coin have an eventual maximum number of coins that will be generated?
-static const int64 MAX_MONEY = 84000000 * COIN; // Litecoin: maximum of 840k coins
+static const int64 MAX_MONEY = 100000000 * COIN; // High limit
May 13, 2013, 04:58:51 AM
How many coin can be mined?
May 13, 2013, 04:57:36 AM
But if your there on release it wiser to start solo mining. Way more profit at the start.
May 13, 2013, 04:56:31 AM
yes they are correct. That is the Port I will be using for the pushpool
May 13, 2013, 04:54:51 AM
Noticed I made a typo naming the coin on my pool ha! http://eLc.hackshardgaming.net is now up. waiting on the software. Preregister now for your spot! I'm going to shutoff registration as soon as the coins released for about 5 hours.
Register doesnt even work...
+1
Whooops! lol I forgot to copy the .htaccess file! Fixed! Now you can register
Are the details in "Getting Started" correct? I am eager to have a functioning and ready to go .bat file that will auto-start trying to connect shortly before the coin is released tomorrow.
May 13, 2013, 04:52:08 AM
I'm looking to buy 100 ELC for 10 LTC immediately when this is released. Whoever can get it to me first PM me.
May 13, 2013, 04:50:29 AM
Noticed I made a typo naming the coin on my pool ha! http://eLc.hackshardgaming.net is now up. waiting on the software. Preregister now for your spot! I'm going to shutoff registration as soon as the coins released for about 5 hours.
Register doesnt even work...
+1
Whooops! lol I forgot to copy the .htaccess file! Fixed! Now you can register
I'm going to shutoff registration as soon as the coins released for about 5 hours. Why?
Dunno why mebbe cause he can ?
May 13, 2013, 04:48:22 AM
Awesome! +1 for the early announcement
May 13, 2013, 04:47:48 AM
Noticed I made a typo naming the coin on my pool ha! http://eLc.hackshardgaming.net is now up. waiting on the software. Preregister now for your spot! I'm going to shutoff registration as soon as the coins released for about 5 hours.
Register doesnt even work...
+1
Whooops! lol I forgot to copy the .htaccess file! Fixed! Now you can register
I'm going to shutoff registration as soon as the coins released for about 5 hours. Why?
May 13, 2013, 04:47:16 AM
maybe some quick orphans
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