••• [ANN][SMC] SmartCoin • KGW • Cryptsy • Reduced Block Rewards • Update your wallets • 10 EXCHANGE - page 255.

adam1230

legendary

Activity: 1218

Merit: 1001

I tried to change my signature and the forum says "changing avatars is currently not possible" Huh

EDIT: HAHA nevermind it worked anyway

alexvillas

full member

Activity: 208

Merit: 100

this coin promising, sounds good

ctenc001

hero member

Activity: 910

Merit: 1000

Quote from: smartcoin on January 06, 2014, 01:51:59 AM

PoW Algorithim: Scrypt
Block Interval: 40 seconds
Starting Difficulty: 0.00024414062
Difficulty Retarget: Every 540 blocks (6 hours)
Total Coin Supply: ~51,200,000

I feel like the difficulty retarget time needs to be reduced dramatically. Take a look at catcoin, and ronpaulcoin. As soon as a multipool hits this coin, they'll mine until next retarget, difficulty will skyrocket, they'll leave, and then there will not be enough hash left for us to meet the next retarget time.

Its far better to set retarget time to something like ~54 instead of 540 blocks, and to limit the change to 10% or so instead of allowing it to jump 5000% because one multipool joined in for a few minutes. This can be handled otherways, this just seems like the easiest way to have a smooth difficulty retarget.

Every coin i've seen with a retarget this high either forks 2 weeks after launch or dies.

adam1230

legendary

Activity: 1218

Merit: 1001

Quote from: ctenc001 on January 23, 2014, 08:40:52 AM

Quote from: adam1230 on January 23, 2014, 08:37:36 AM

Block 1: 400,000 SMC
Block 2-999: 1 SMC
Block >1000: 64 SMC

So does this mean that the person (or the pool) that finds the 1st block is basically going to be rich and that it will take 28 days to get the next 1000 SMC?

first block was premined.
of which he has or will give away 60K to pools, 45k to anyone who registered, and 15 per signature. The rest is for development bounties for things like faucets, and future giveaways.

got it, thanks!

ctenc001

hero member

Activity: 910

Merit: 1000

Quote from: adam1230 on January 23, 2014, 08:37:36 AM

Block 1: 400,000 SMC
Block 2-999: 1 SMC
Block >1000: 64 SMC

So does this mean that the person (or the pool) that finds the 1st block is basically going to be rich and that it will take 28 days to get the next 1000 SMC?

first block was premined.
of which he has or will give away 60K to pools, 45k to anyone who registered, and 15 per signature. The rest is for development bounties for things like faucets, and future giveaways.

adam1230

legendary

Activity: 1218

Merit: 1001

Block 1: 400,000 SMC
Block 2-999: 1 SMC
Block >1000: 64 SMC

So does this mean that the person (or the pool) that finds the 1st block is basically going to be rich and that it will take 28 days to get the next 1000 SMC?

MickeNorsk

full member

Activity: 126

Merit: 100

Quote from: miramare on January 23, 2014, 04:13:34 AM

Let's do some maths.

"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."
And OP hope at least 8000 ppls will researve SMC (each will receive 60 ).
The total amount will be ~8000* 60~ 480,000!

Or is sth wrong? 800 ppls instead of 8000 ppls? Huh

It's as you quoted.. "45,000 SMC will be divided equally"
If 8000 reserve SMC we'll only get 5.625 SMC (45000/8000)
But more likely "only" 1000 will reserve (45000/1000) = 45 SMC

But what I'm a bit confused about is the 15 SMC bonus for the signature.
Will that also be drawn from the 45,000 pot?
In that case, if 1000 signup, we'll still get 45 SMC and not 60.
If it's a seperate pot for the bonus, what if 8000 signup, that will be 120,000 SMC if all get a 15 SMC bonus.

Please clear this up for me

//Michael

adir77

full member

Activity: 238

Merit: 100

Quote from: miramare on January 23, 2014, 04:13:34 AM

Let's do some maths.

"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."

45000 / people_signed_cnt = how much you get SMC

for example if signed 1000 people for free SMC , all get per 45 SMC.

alfity

newbie

Activity: 20

Merit: 0

Coins nice

adir77

full member

Activity: 238

Merit: 100

Coins look nice. well, they are a solid preparation before the start

miramare

hero member

Activity: 1162

Merit: 568

Let's do some maths.

"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."
And OP hope at least 8000 ppls will researve SMC (each will receive 60 ).
The total amount will be ~8000* 60~ 480,000!

Or is sth wrong? 800 ppls instead of 8000 ppls? Huh