Topic: [ANN][YAC] YACoin ongoing development - page 57. (Read 379983 times)

That assumes the block rewards to be 50-60 like it is now. If reward drops down, it will take longer.


The technical decisions were made at pocopoco's whim. He has abandoned the coin since the initial period, showing his confidence in his handiwork. I thought the community might want to review the decisions after a while instead of keeping holding pocopoco's Yet Another random decision as gospel?

Does this mean we can go back to discussing other (more important) things?  Like the next version of the wallet? (btw - the last update blew my mind; the POS upgrades were amazing!)

For the next version, we might want to consider adding some 'POS indicators' (such as the 'green arrow' as seen in Blackcoin and Reddcoin) that helps the minter estimate their time until a stake.  I'm not suggesting we 'copy' it (although that's what any other coin developer would do), but could we create something even BETTER then what everyone's using?

https://bitcointalksearch.org/topic/m.8349070

On a side note....  A shutout to Groko.  The charts are very useful and I love what you've done with your block explorer.  I use it quite often.  I hope there is more development work to come! 

Amen!

This is a man who gets it   Mining should not be something only the elite can accomplish by spending truckloads of cash.  K.I.S.S. (keep it simple sam)

Distribution looks exactly as planned.

If you bought a pile of YAC early on of course your % holding will decline as time goes on and the total amount of YAC increases.  If you are a supporter of YAC you shouldn't just have bought once and sit on it, you should be continually mining thereby increasing your actual amount of YAC (so % may stay ~ the same)(which also supports the network...you know that little thing of some importance...) or keep buying.  YAC wasn't released like a company stock offering with a fixed total number on day1.

Only reason miners today are getting a great number of YAC/day than 6 months ago is that there are fewer miners.  That isn't a problem with teh code that is a side effect of there being 100000 coins and YAC being somewhat out of teh headlines.  There is a full pie to share each day to however many miners are mining.  If more miners return then individuals get less.

If you want to support a coin where only the first wave of miners get a a majority of the rewards then you should just stick with Bitcoin or Litecoin.

YAC and the scrypt-jane algo is pretty great as the algo has seen the rise and fall of different mining equipment allowing different groups of miners to come and go.  Now some of the best mining equipment are cheap crappy GPUs that happen to have a fair amount of memory...that's a great equalizer in comparison to the current ridiculous arms race of SHA and SCRYPT mining.  Soon CPUs might even get back in the game so there might be further surprises ahead.  I like it!

Is that a bad thing?  This is assuming that YAC doesn't gain more acceptance/mining power and the block reward doesn't drop (ie below 25 coins per block), right?

I guess what I'm missing is; why is the coin distribution a problem now?  AFAIK its been unchanged since the initial launch (~1.3 years ago).

Super, Groko. A chart is better than one thousand words.

The "last year" chart shows that inflation dropped down as money supply increases in an approximate 1/x relation. This is because that the money creation rate has been more or less constant, so the down trend of inflation is mainly due to increased money supply. Inflation has decreased a lot but the speed of decrease inevitablly slows down, as it gets more and more difficult to increase money supply by hte same percentage as the base grows.
 
If we just wait, not considering POS, inflation will go down to ~50% pa next year. But every holder of YAC will be worth 50% lower in terms of owning how many percent of YAC money supply. If we wait for 9 years, inflation will go down to 10% (inflation of bitcoin is 10% today), but  the value of YAC asset you own today will take a 90% hair cut because the money supply will be 10 times bigger. It will take about 30 years before POW inflation equals to that of POS.  Before inflation goes down, YAC will have downward pressure from miners who have huge loads ready to dump.

Anyway high inflation sacrifices early owners' interest and favors late comers. The community has to understand this.

[facepalm] Either I am talking to someone who hasn't grasped that "driving at 60 miles per hours" doesn't mean one has to drive at a CONSTANT speed, or I have wasted time trying to wake up someone pretending to sleep.

My server ran out of memory or something and crashed. Sorry for the kill joy. I shifted things
around so hopefully that won't keep happening. It's back up for now.

From the charts you can see that back in November inflation was hovering around %300. Now it
is hovering around %100. That's a pretty dramatic drop if you ask me.

But, but but.... I was promised 100% inflation! 

Actually, getting 502 bad gateway, so I didn't get to look yet...

Wow I love all the discussion! So much drama! If only we had some way of ... hmmmm ...  conceptualizing
the inflation rate of YACoin. Wait! I know! A bunch of graphical charts!

... Introducing ...

... Drum Roll ....

http://explore.grokonet.com/?inflation=1

I present a collection of brand new YACoin inflation charts for all to enjoy. And may all your fears of
inflation be tamed. These charts are updated once every minute. Amazing!
According to my calculations, YACoin inflation is going down quite dramatically and steadily.
After all, YACoin is only 1.3 years old.

I also present ...

http://explore.grokonet.com/?volume=1

Which is a collection of volume charts also updated every minute. I think they give a kind of assurance
that people are doing what YACoin was designed to do. That is exchanging currency. Not just mining it.

30 years to do what? PoW coin generation equal POS coin generation? I didn't say that, but why would that matter anyway? BTW I love how you are referencing a post a while back when I didn't think you were just a child wanting attention.


For anyone else who might also have this concept dreadfully confused...

If you want to say that 'inflation' (new money created), steals value from the money already in existence, then you have to ASSUME EVERYTHING ANYTHING EVER is a CONSTANT. Even if you make such a mindless approach, then still the total marketcap would be a constant, which is obviously proven otherwise.

As an example, the way PoS is supposed to work (originally with PeerCoin) is that it doesn't decrease the price as there is a huge incentive to hoard which lowers the money velocity--generally the opposite with PoW, but there are other factors.

Adoption, adoption, adoption. Inflation is a term for MONEY, and YACoin needs to become accepted as such. I think the way yacoins are being distributed in this adoption phase is new and interesting and different, which a coin surely HAS to be in order to potentially ever surpass bitcoin or government fiat. It would be interesting though to see a coin that had constant PoW RATE--block reward as a percentage of coins already in existence...

Changing block rewards is really just a question for one creating a new coin. Manipulating money supply of an existing coin is mind-boggling hypocritical for cryptocurrency. It is also absurd in effectiveness. It would be like banging your head against a wall to get rid of a headache.

Stop making baseless accusation because you don't read or choose to forget. It was you who used POS as a inflation yard stick here, and said in the same post that "If block reward was a constant 100 forever, PoW inflation rate would decrease over time because the ratio gets smaller and smaller as coins in existence increases". As a result I calculated in the follow up post that it will take at least 30 years to do that at current high coin generation rate, to help you to understant it better.


Good to have faith. Your YACs today will be worth 10% by then (half of it due to POS) however, measured by percentage of coinbase (see my post in above link).

Thank

Thank the man who has made his work for this great work.
Thanks again

So you want POW coin generation rate to equal POS coin generation rate? Is that your new theory you just came up with? And 30 years really? Please educate yourself, become somewhat successful, obtain capital, and then come back, then maybe we can have an intelligent conversation.

And to answer your question if I believe YAC will be around in another 30 years... yes I do. I really do.

Thirtybird is the GPU guru.  He made a site to help write config files/settings.  I find it very useful.  http://www.ultracoin.net/configgen_raw.html


YAC is only 15 months only and bitcoin is only 5 years old.  'Inflation' rates are going to be very high for all coins in the beginning. 

What's the difference if there are 21 million bitcoin or 2.1 million bitcoin?  The value will adjust accordingly.

Hardforks are usually create a lot of uncertainly and confusion.  IMOP they are best avoided when possible.

How about chaining the block reward 'because the inflation is high' ?

You seriously think YAC will be around in 30 years when the inflation is on par with that of POS? I do miss the APPLE ][ I played with in mid 1980s.


Be civil.

Hello, is there some with R9 280x
Can you share a bat file and what speed you have.
How many GB of RAM should have 1 RIG.

I'm surprised this is still being discussed as well...

Changing the block reward won't have 'any effect' on the market value of the coin.  Four coins worth 100 satoshi or one YAC worth 400, doesn't change the scope, or the market value, or adoption/acceptation of the coin.

However, chaining the block reward 'because the price is low' won't be viewed lightly by others.