Topic: [ANN][SBC] StableCoin ¦¦ A new breed of cryptocurrency ¦¦ v1.2 RELEASED - page 14. (Read 102773 times)

Interesting watching the bytecoin release on cryptsy, no sellers and buyers keep creeping up.  I think the blockchain is broken as the last timestamp is in the future and no blocks being found, but still interesting

Agreed.

I think 0.0008 is more reasonable.

Lol. You are right. I am wrong. I am dumb. 25 per block not 50 

Still. My point stands that 0.01 BTC/SBC is too optimistic!

Experience mining, pools.

Via silverwolf's pool 1:

Top 50 Hashrates
Rank   User Name   KH/s   SBC/Day (est)
1   Karasur   15,457    5,857.184      <--- 0.3789 SBC/day per khash
3   bsoile6   3,999    1,515.357      <--- 0.3788
5   xwebnetwork   3,132    1,186.821      <---0.3786
18   BrokenHypocrite   280    106.102     <---0.3785
19   kinopcs   14    5.305    <---0.3789

Same in the other pools, 01PQ pool:
1    Cryptoin    29,797    11,474.677    <---0.385
5    tuna    87    33.650      <----0.386

Difficulty is 1.30, earlier today at 1.02 difficulty everyone was averaging 0.48 SBC/day per khash (100khash/s=48SBC daily). So at a difficulty of 1 the daily SBC rate is 0.5 SBC per khash. I dunno what else to add, you should know the math better than me ;P

Where are you getting your numbers from?

Multiple pools tell me that 133KH/s will get you around 50 SBC in 24 hrs at 1.3 diff.

Plug in the numbers here: http://benhohner.com/feathercoin/

(25 coins per block, diff 1.3, 100KH/s.) You'll get around 38.7SBC a day

Edit: I think you have block reward at 50SBC. It's 25

difficulty now is 1.3 . 100KH/s will get you 33/38 SBC per 24 hours

Assuming a difficulty of 1 (As SBC has been between 0.8 and 1.2 typically) 100KH/s will get you 100 SBC per 24 hours. Not 35-40

That's how I orginally determined the value when I first got my first few SBC but my numbers came out a bit different. How'd you get 1kh/s = 1 SBC/day?
If I mine at 100kh/s all day then I'd earn 0.15 LTC or 1 LTC in a week (6.6667 days); but if I mine SBC at 100kh/s I'd get about 35-40 SBC a day or ~250 in one week. Therefore I'd say 1 LTC = 250 SBC and 1 SBC = .000088
what am I missing?

As far as the not going below 0.001BTC I see your point and like I said I determined the value the same way given no other practical alternatives to determine the value. However the market still determines the price and while it should reach an equilibrium at the cost/revenue of mining, alt-crypto markets are far from efficient and it would be easy to create a price floor for the purpose of bringing in new miners and raising the difficulty.
 As mentioned earlier, there is a lack of diversity in who holds SBC; so if 50% of SBC holders have, say, 90% of the SBC out there then they could quickly buy up all sell orders below .001BTC/1SBC and not sell/buy every sell below this(think 500 individual buy orders at bid 50 @ .001 btc for a sum of 25BTC), thus creating a shortage that would shift equilibrium from .000088btc to .001btc and then new miners would flood in. This would eventually make the .001btc price floor unsustainable(which is good since price floors, generally, should be temporary) Then as the new miners come in and start selling for less than .001 this starts to eliminate the shortage/price floor AND this would also cause the difficulty to rise and thus decrease the rate of SBC per kh/s miners earn, causing the value to rise from the original price(> .000088btc/1SBC) in the long run.
I should draw supply/demand curve to illustrate this better but i'm lazy.
I'm not specifically saying SBC holders should collude to raise prices or anything, I'm providing this point more for anyone that is holding alot of SBC as to why they shouldn't sell so easily and if anything should consider buying more SBC if they want the value of their SBC holdings to increase.

I am starting to mine it, looks interesting and easy to mine.

Join my p2pool 

Pool.play4.co.uk:9119

i am mining with 12mhash i hope it does not go this week to cryptsy let the arg and ezcoin settle

and at the same time we can mine more while difficulty is still low and haven't hit coinchoose yet.

I don't understand why so many people are upset about all the altcoins available, competition breeds progress.  Have some faith in natural selection.

Blow all the gaskets you want; nothing stopping them from coming.

I swear to god, if there's another altcoin in the next two hours i'm gonna blow a gasket.

The network is getting pretty close to 200 MH/s already  

Thus why we need more hashing power on the network.  I'll add another 9MH/s when I get home in about 4 hours.

As demand and difficulty go up, so should the price.

The thing is, we cant just agree a price and stick to it. It is relative to other Scrypt Alt currencies.

For example, if I mine at 5000KHs I know I'm gonna get about 8 LTC a day so about $17-$18 at current rates. (633 difficulty)
5000KH/s mining SBC will get me (assuming a difficulty of 1) about 5000 SBC per day.

So, to a miner 1 SBC is worth .0016 of 1 LTC.
or put another way, 625 SBC is worth 1 LTC

With 1 LTC worth approx 0.022 BTC then that means to a miner right now, 625 SBC is worth 0.022BTC
so I'd estimate 1SBC = 0.0000352 BTC.

If 1 SBC was worth 0.01 BTC then I'd have just mined 120 BTC in a week... Be realistic guys!!

I'll be chuffed if I can sell my SBC @ 0.0001 BTC

Just added 25MH/s to the network to help bolster the launch.  Should be an interesting one.

Agreed, the hashrate has been pretty consistent but I don't think there's been much new blood in the mix.