[Announce] 6-Week Alt Announcement - page 5.

Tobius

member

Activity: 182

Merit: 10

Quote from: drawingthesun on May 02, 2013, 10:47:42 PM

I think that having the supply tied by the square root is a good idea. A even better idea is to have no cap at all on coins.

After 20-50 years even though people can still mine and get a lot of coins, the inflation will be really small because the amount of coins in existence will always increase against the amount of coins mined. Because of this there is really no reason to cap or slow down the supply after a set amount of years. The volume of coins over the new coins will always increase thus decreasing inflation.

After a hundreds years inflation would be 0.0001% for example, but even this would be enough to keep people interested.

I really like this idea. If you add a cap then I think you will miss out on something important.

While the forward thinking is awesome, don't you think people would get kind of weirded out if they used to mine with 100 SQC (yes, I'm using my own name) rewards and suddenly everyone with a CPU is getting 1000 SQR a block?

I don't think perminant exponential reward growth would help the coin to be adopted and used to that it's relevent for that long, even if it's mathematically ideal

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: Tobius on May 02, 2013, 10:34:51 PM

Quote from: cygnusxi on May 02, 2013, 10:31:04 PM

Quote

Basically, if ASICs hit for Scrypt, the coin reward would go up, and naturally over time as hardware like GPUs gets faster the block reward will go up as well, but the square root means at some point it will reach a maturity point where large amounts of added hashing power have little affect on the reward.

This seems like a good enough effect to not need a block size cap. because as u said, hardware will get much faster. soon a teraflop card will be old news.

I guess you have a point... but I'd think that once this stability is reached, the coin would take on a bitcoin style difficulty management system, which would just make the hashes harder when some guy comes in with a AMD Radeon 9001X99 Super-Duper-Card GPU @ 999999999 PHs

You won't need to make hashes harder because the amount of coins in circulation will increase so much all the new minted coins will eventually add little to the overall supply.

coins that exist / minted coins

The coins that exist will always go up and up where minted coins will not go up as fast especially after many years. This will act as a natural cap and reduce inflation. After 20-40 years inflation will be less then PPCoin thus making a higher demand for existing coins.

This model could be a true solution. No need to program in reward halfs. Let the 1 rule take care of everything naturally.

NickCoin

member

Activity: 115

Merit: 10

Quote from: Vorksholk on May 02, 2013, 09:18:58 PM

Name suggestions. I need them. Thanks

=> ZenCoin

I'm in. Supporting the coin as the designer. let me know if you need logo designed.
Sample work - I converted Feathercoin logo to vector lately:

Blue_oxen

full member

Activity: 515

Merit: 101

Quote

The coin itself will have a block reward that increases with hashing power.

I can see this causing a problem with value. as more miners come on it could case a surplus in coins. Having more supply than demand could cause a problem with coin valuation. IMHO I think it would be a good idea to put a hard cap on the number of coins possible no matter how high the hash rate gets.

My name suggestion: ROOTcoin a play on the square root calculation you are using. You could have the graphic on the coin be a tree showing its roots.

drawingthesun

legendary

Activity: 1176

Merit: 1015

I think that having the supply tied by the square root is a good idea. A even better idea is to have no cap at all on coins.

After 20-50 years even though people can still mine and get a lot of coins, the inflation will be really small because the amount of coins in existence will always increase against the amount of coins mined. Because of this there is really no reason to cap or slow down the supply after a set amount of years. The volume of coins over the new coins will always increase thus decreasing inflation.

After a hundreds years inflation would be 0.0001% for example, but even this would be enough to keep people interested.

I really like this idea. If you add a cap then I think you will miss out on something important.

Tobius

member

Activity: 182

Merit: 10

Quote from: cygnusxi on May 02, 2013, 10:31:04 PM

Quote

Basically, if ASICs hit for Scrypt, the coin reward would go up, and naturally over time as hardware like GPUs gets faster the block reward will go up as well, but the square root means at some point it will reach a maturity point where large amounts of added hashing power have little affect on the reward.

This seems like a good enough effect to not need a block size cap. because as u said, hardware will get much faster. soon a teraflop card will be old news.

I guess you have a point... but I'd think that once this stability is reached, the coin would take on a bitcoin style difficulty management system, which would just make the hashes harder when some guy comes in with a AMD Radeon 9001X99 Super-Duper-Card GPU @ 999999999 PHs

Tobius

member

Activity: 182

Merit: 10

Then from that point on, moving up towards X value of coins, (let's say 40 million)

So the total coins in circulation would be about 40 million + Whatever was made before stability

cygnusxi

sr. member

Activity: 397

Merit: 251

CureCoin Lead Dev

Quote

Basically, if ASICs hit for Scrypt, the coin reward would go up, and naturally over time as hardware like GPUs gets faster the block reward will go up as well, but the square root means at some point it will reach a maturity point where large amounts of added hashing power have little affect on the reward.

This seems like a good enough effect to not need a block size cap. because as u said, hardware will get much faster. soon a teraflop card will be old news.

Tobius

member

Activity: 182

Merit: 10

Quote from: Vorksholk on May 02, 2013, 10:24:25 PM

Quote from: Tobius on May 02, 2013, 10:20:47 PM

Quote from: Tobius on May 02, 2013, 10:09:35 PM

I'd just be careful about how high the coin generation can get... if the hash rate ever gets to high due to (for example) some sort of ASIC type hyper effienct miner, the coin would be subject to run away inflation... Not sure of the solution to that, but hey, there's 6 weeks

Idea, One could have this sqrt growth until the network reaches a "hash rate of stability" Where the coin reward stops growing, and would remain there. From that point on, it could take on a Bitcoin style halving ritual up to a certain amount of coins (relative to the point at which it reaches "stability", not the initial zero point)

I like this idea, problem is determining the magic numbers . . .

Well, I'd try to think about what would determine "stable". Some sort of a point at which you could easily say that the coin is well supported and will continue to be mined at a somewhat regular rate. I'd cross compare with other coins, but I suppose that's for later time Tongue

Just as a random suggeston, how about a maximum of 256 coins per block (square that for a hash rate around 65GHs?) (256^2/1000 = Hashrate in KHs)

chriswen

hero member

Activity: 756

Merit: 500

Quote from: TheJuice on May 02, 2013, 10:28:17 PM

So many coins these days. You're going to have to be very creative to make this stick.

lol, do you really?

TheJuice

hero member

Activity: 843

Merit: 608

So many coins these days. You're going to have to be very creative to make this stick.

Vorksholk

legendary

Activity: 1713

Merit: 1029

Quote from: Tobius on May 02, 2013, 10:20:47 PM

Quote from: Tobius on May 02, 2013, 10:09:35 PM

I'd just be careful about how high the coin generation can get... if the hash rate ever gets to high due to (for example) some sort of ASIC type hyper effienct miner, the coin would be subject to run away inflation... Not sure of the solution to that, but hey, there's 6 weeks

Idea, One could have this sqrt growth until the network reaches a "hash rate of stability" Where the coin reward stops growing, and would remain there. From that point on, it could take on a Bitcoin style halving ritual up to a certain amount of coins (relative to the point at which it reaches "stability", not the initial zero point)

I like this idea, problem is determining the magic numbers . . .

Tobius

member

Activity: 182

Merit: 10

Quote from: Tobius on May 02, 2013, 10:09:35 PM

I'd just be careful about how high the coin generation can get... if the hash rate ever gets to high due to (for example) some sort of ASIC type hyper effienct miner, the coin would be subject to run away inflation... Not sure of the solution to that, but hey, there's 6 weeks

Idea, One could have this sqrt growth until the network reaches a "hash rate of stability" Where the coin reward stops growing, and would remain there. From that point on, it could take on a Bitcoin style halving ritual up to a certain amount of coins (relative to the point at which it reaches "stability", not the initial zero point)

Vorksholk

legendary

Activity: 1713

Merit: 1029

Quote from: xorxor on May 02, 2013, 10:03:07 PM

the best name is ChikunCoin! CHC

this is actualy an interesting experiment. some new idea of inflacoin.
just dont forget to change difficulty adjustment to PPC version.

Yeah, gonna try to tie in some difficulty adjustment scheme from PPC, might make minor changes.

Quote from: Tobius on May 02, 2013, 10:09:35 PM

I'd just be careful about how high the coin generation can get... if the hash rate ever gets to high due to (for example) some sort of ASIC type hyper effienct miner, the coin would be subject to run away inflation... Not sure of the solution to that, but hey, there's 6 weeks

Gonna add that point to op, that is another reason for the sqrt(hashRate)*C
Basically, if ASICs hit for Scrypt, the coin reward would go up, and naturally over time as hardware like GPUs gets faster the block reward will go up as well, but the square root means at some point it will reach a maturity point where large amounts of added hashing power have little affect on the reward.

Thanks for everyone's suggestions!

kjlimo

legendary

Activity: 2114

Merit: 1031

Quote from: farlack on May 02, 2013, 09:24:49 PM

Congrats you're the next in line to figure out all you have to do is design a coin to make 100k within a week!

Hah, 100k what? USD, BBQcoin, TRC, FTC...?

Quote from: WuNinjaTmp on May 02, 2013, 09:34:13 PM

Ugh. All these altcoins are making me dizzy.

amen brother!

Quote from: mokahless on May 02, 2013, 10:12:58 PM

Someone really, really needs to make a coin called "altcoin"

That would really screw with my conversations!

FoundNemo

newbie

Activity: 14

Merit: 0

Quote from: FoundNemo on May 02, 2013, 10:15:19 PM

Quote from: FoundNemo on May 02, 2013, 10:13:21 PM

WLC - WorldCoin
PCC - PeaceCoin
RDC - RedCoin
BLC - BlueCoin
UVC - UniversalCoin
ELC - EliteCoin

ZOC - ZRC - ZeroCoin

Donation's gladly accepted if you select my names - BTC 1FwsACfRyaH6fQhCz6BcQa7oWwyEEKueCP - lol

FoundNemo

newbie

Activity: 14

Merit: 0

Quote from: FoundNemo on May 02, 2013, 10:13:21 PM

WLC - WorldCoin
PCC - PeaceCoin
RDC - RedCoin
BLC - BlueCoin
UVC - UniversalCoin
ELC - EliteCoin

ZOC - ZRC - ZeroCoin

FoundNemo

newbie

Activity: 14

Merit: 0

WLC - WorldCoin
PCC - PeaceCoin
RDC - RedCoin
BLC - BlueCoin
UVC - UniversalCoin
ELC - EliteCoin

markm

legendary

Activity: 2940

Merit: 1090

Quote from: Tobius on May 02, 2013, 09:43:39 PM

Yes, SQrtCoin (SQC) although I'd like the q to stay lowercase in the name (v not that it's my say Tongue

)

Oh capitalising the letters in the name that make the symbol is just osmething I do to try to keep people aware of what the symbol is. Most folk only capitalise the initial letter, so it'd be Sqrtcoin when they write it.

-MarkM-

mokahless

sr. member

Activity: 471

Merit: 256

Someone really, really needs to make a coin called "altcoin"

Topic: [Announce] 6-Week Alt Announcement - page 5. (Read 17138 times)