Topic: [ANN] [QRK] Quark | Core 0.10 upgrade - page 133. (Read 1031025 times)

Why noone quotes this?

Nice project Coinmama2014.

@Kolin

Yes Kolin, save Quark. I mean, Quark will most likely "survive" but I guess even to you it is not appealing to hold 247 millions of Quark and noone else wants to exchange it with you. As you may have noticed many people sold their Quarks and if you are going to laugh away problems that everyone else in the active community agrees exist then I can see more people turning their back on Quark. The hashrate issue is directly connected to price and trust in Quark, so yeah, we should and will do something about it.

@reRaise

Conditions:

A merge mining coin only makes sense to me if
a) there will be a prospect for a long-term value and
b) it is no direct competitor with Quark

This is why I am against a random roin that merge-mines. The coin should have a longer distribution scheme, let´s say 20 years and a different blockrate, say 3-6 minutes. This would make it distinguishable to Quark and avoid a fast boost with a short bust. When I said this could be an "experimental" coin I didn´t mean to think of it as Bitcoin Testnet but rather as a coin with a higher probability of hard forks when implementing new features.

To experiment on a different coin would sort of solve the discussion on whether we should change the Quark source code. As you know, some people wanted to push things forward and other were sceptical if that wouldn´t we a too high risk factor. To have a longer blockrate and distribution scheme would avoid the coin becoming a direct competitor with Quark as when it comes to adoption for many in-store trades 30 seconds would still be more attractive than 3-6 minutes and the inflation rate would be way higher as with Quark.

This is all very interesting, how can we make sure that with the merge mined coin people don't sell their quarks and jump on the new one?

This is all very interesting, how can we make sure that with the merge mined coin people don't sell their quarks and jump on the new one?

the only problem I'm having understanding is how will you be able to control the ratio of quark quill, what if there will be some investors that will go on cryptsy and pay more on quill then the official ratio, if its a protocol induced ratio then they have overpaid, but if its an advisory note from the quark foundation then they have made either a good or bad decision based on their later trades. It could also happen the other way and be worth a lot less than 10:1, people might not want to pay even 100:1 for the quill, but if its protocol induced ratio then everybody knows that 10 quils will be translated into quark blockchain as 1 QRK. We keep the trustless model and only have faith in the protocol, not in the economic models which are daily broken and rewritten.

Again, what will this new altcoin/companion coin bring to the table as a technology, all the top 10 coins now have something that makes them attractable for investors. Quark could spark the same attractiveness if a new technology like side chain will be implemented, not only the devs will receive all the laurels but they could also benefit by creating a sidechain for devs where they'll get 1% of the block rewards so that they are continually funded for working on Quark.

Correct. It will be another alt coin. But a coin that only gives you 1:10 exchange rate.

what im proposing is an economic model. I did add and edit my earlier post about capping quill max quantity. If u are interested to follow through. Thanks guys

Correct. It will be another alt coin. But a coin that only gives you 1:10 exchange rate.

what im proposing is an economic model. I did add and edit my earlier post about capping quill max quantity. If u are interested to follow through. Thanks guys

Thing is, quill will be just another altcoin, what will make investors want to come and invest in it ? There are already hundreds of alts, let Quark be the first to implement side chain technology and I promise you that it'll generate much more interest and attention from media and investors that believe in crypto than a new altcoin would.

I understand your concern but what I'm throwing to the community is something simple. Quark will always be quark, quill is quill. Even the codes are not linked up by sidechain nor requiring quill to be tied up when paying with quark.

they will be separate but only thing different is the exchange to connect both together.

If quill one day becomes so attractive people will acquire quark to get it. And since quill developers manage the fixed exchange rate we have some form of control

also to fix the economic model, quill max quantity has to be fixed.

I agree, however no one will be able to control the economic aspect of that new coin in relation with quark even if you'll create a centralized exchange rate. If you want that new coin to be pegged at quark value with 10:1 ratio you need something build-in like the sidechains technology which won't be subjective to economic manipulation and will always translate 10 quill to 1 quark. You can then allow asic miners on that coin, gpu miners, etc because even if they control 100% of the hashrate power of that sidechain they won't be able to attack the quark network.

Instead of pools we'll be able to have lots of sidechains on which different quarkers will mine the one that gives them the best value, for example there could be the official quark sidechains released by the foundation with a 10:1 ratio with a percentage going to developers, and on top of that anyone could build a sidechain coin but will have the standard ratio of 100:1. That way people have options and will be attracted by the new technology with all sort of miners joining the most profitable sidechain based on their mining equipment. To implement this would be a big challenge but without a protocol controlled ratio you rely on free market and you would go in a funny situation when that companion coin will surpass Quark and instead of saving Quark you'll bring quarkers into a dust storm.

Agree to keep it simple, and I like your idea about a fixed price.

How will qrk.cc be able to exchange quill for quark to miners? I expect that miners want to exchange quill for quark more often than the other way around. So you need some kind of a Quark buffer? Any ideas about that?

All of these are getting way too complicated...

Anyway here's my idea... if u guys really bent on companion coin it has to be something like this.

The coin has to have a fixed exchange rate to quark. It means 'pegging' according to economic terms. I will call the coin "quill" if this idea goes through... so 1 quark is always equivalent to 10 quill no matter where u go. The exchange rate to other alt coin can free float but to quark it remains the same.

To implement this fixed exchange rate idea, the quill has to integrate some codes to tie to quark without altering quark. Else if can't be done we have to create a centralized exchange rate at quark.cc meaning that in open market you can exchange quark to quill vice versa at any rate but over at central. It is tied to 1 quark to 10 quill.

To preserve its value we need to consider the distribution time frame to stretch longer. 10 times than quark 6 months. So if quill  value goes up, so does quark because it is pegged at fixed exchange rate.

All of these are getting way too complicated...

Anyway here's my idea... if u guys really bent on companion coin it has to be something like this.

The coin has to have a fixed exchange rate to quark. It means 'pegging' according to economic terms. I will call the coin "quill" if this idea goes through... so 1 quark is always equivalent to 10 quill no matter where u go. The exchange rate to other alt coin can free float but to quark it remains the same.

To implement this fixed exchange rate idea, the quill has to integrate some codes to tie to quark without altering quark. Else if can't be done, another option is we have to create a centralized exchange rate at quark.cc meaning that in open market you can exchange quark to quill vice versa at any rate but over at central. It is tied to 1 quark to 10 quill.

To preserve quill value we need to consider the distribution time frame to stretch longer. 10 times than quark 6 months. So if quill  value goes up, so does quark because it is pegged at fixed exchange rate.

Hey guys, anyway if u like the idea can donate some quarks. Thx

I definitely vote for Vic, he has proven himself to be a dedicated and respectful person. He had a major role in ShaqFu and knows how to steer things, after him i would say quarkfx, a talented, ambitious and also respectful guy.