These are the changes:
- The inflationary period is 30 days now, as opposed to 6 months.
- 6 separate periods of five days each
2000>> 2250>> 2500>> 2750>> 3000>> 4000 >> goes down to 2000
Then halves every two years.
Still toying around with the last period, but for the most part this is final.
This is designed to drastically reduce the inflationary period, which we felt gave no incentive to mine at all until the 5th month, when people would have completely forgotten about Credits as a whole. Also, it's obvious that inflation until a 13k block reward was completely ridiculous. The new system cuts that down to a max of 4000 (only for five days), then goes down to 2000. So, you loyal miners that were concerned about the value of your coins that you have mined since release, they will now be more valuable than previously expected.
Please give feedback everyone, we want to hear honest opinions!
Topic: CREDITS: INFLATION PERIOD OVER, SECOND HARD FORK + POKER ROOM COMING SOON - page 30. (Read 92354 times)
March 07, 2014, 01:40:31 PM
March 07, 2014, 01:13:09 PM
I'm a little confused. I'm not quite sure how they would be worth more in value, unless we are being sent coins that we should have got if the block rewards are being changed to make it easier for earlier miners?
Well no see, the current 6 month inflationary period starts at a 756 block reward, and ends at something like 13,000. This creates a great deal of inflation, even when you factor in difficulty etc. The new one (fork) will be much more evened out, and only have a range of a couple of thousand (2-3 most likely) as opposed to over 12,000. This is designed to give you guys (early miners) a reward for sticking with us, while also sticking with our original thought of having an inflationary period, which will also be reduced from the original 6 months, to 30 days.
Awesome.
March 07, 2014, 01:09:28 PM
You have won me back with a great save. When can I expect to see the new block reward coming through on http://cr.poolerino.com/?
When we release the fork, which will be in a couple of days.
yeah, i'm gonna chime in on the chorus, very good work and very good attitude. for being such good devs i'm not gonna dump. ever.
March 07, 2014, 12:46:05 PM
You have won me back with a great save. When can I expect to see the new block reward coming through on http://cr.poolerino.com/?
When we release the fork, which will be in a couple of days.
March 07, 2014, 12:34:29 PM
You have won me back with a great save. When can I expect to see the new block reward coming through on http://cr.poolerino.com/?
March 07, 2014, 11:48:48 AM
Mining Credits is highly profitable now in my book. I'm the mining the shit out of it.
I hope with us ?! cr.poolerino.com 0% fee - nothing less
March 07, 2014, 11:47:46 AM
Mining Credits is highly profitable now in my book. I'm the mining the shit out of it.
March 07, 2014, 11:37:40 AM
I'm a little confused. I'm not quite sure how they would be worth more in value, unless we are being sent coins that we should have got if the block rewards are being changed to make it easier for earlier miners?
Well no see, the current 6 month inflationary period starts at a 756 block reward, and ends at something like 13,000. This creates a great deal of inflation, even when you factor in difficulty etc. The new one (fork) will be much more evened out, and only have a range of a couple of thousand (2-3 most likely) as opposed to over 12,000. This is designed to give you guys (early miners) a reward for sticking with us, while also sticking with our original thought of having an inflationary period, which will also be reduced from the original 6 months, to 30 days.
Allright then, i'll be switching my rigs back to credits tonight since i do like your efforts on the marketplace.
That's awesome to hear! Keep in mind that we might not have the fork out for a couple of days
March 07, 2014, 11:23:10 AM
I'm a little confused. I'm not quite sure how they would be worth more in value, unless we are being sent coins that we should have got if the block rewards are being changed to make it easier for earlier miners?
Well no see, the current 6 month inflationary period starts at a 756 block reward, and ends at something like 13,000. This creates a great deal of inflation, even when you factor in difficulty etc. The new one (fork) will be much more evened out, and only have a range of a couple of thousand (2-3 most likely) as opposed to over 12,000. This is designed to give you guys (early miners) a reward for sticking with us, while also sticking with our original thought of having an inflationary period, which will also be reduced from the original 6 months, to 30 days.
Allright then, i'll be switching my rigs back to credits tonight since i do like your efforts on the marketplace.
March 07, 2014, 11:22:04 AM
Wonder if the confusion over the terms of fork vs relaunch made the network hasharate drop. In any case, lower diff is nice 
Lotsa credits
Lotsa credits March 07, 2014, 11:19:27 AM
I'm a little confused. I'm not quite sure how they would be worth more in value, unless we are being sent coins that we should have got if the block rewards are being changed to make it easier for earlier miners?
Well no see, the current 6 month inflationary period starts at a 756 block reward, and ends at something like 13,000. This creates a great deal of inflation, even when you factor in difficulty etc. The new one (fork) will be much more evened out, and only have a range of a couple of thousand (2-3 most likely) as opposed to over 12,000. This is designed to give you guys (early miners) a reward for sticking with us, while also sticking with our original thought of having an inflationary period, which will also be reduced from the original 6 months, to 30 days.
March 07, 2014, 11:09:48 AM
I'm a little confused. I'm not quite sure how they would be worth more in value, unless we are being sent coins that we should have got if the block rewards are being changed to make it easier for earlier miners?
March 07, 2014, 10:13:32 AM
I sincerely hope you're forking the current chain instead of relaunching.. Otherwise people will lose 3 days worth of mining..
+1 , relaunch does not seem necessary and would be severely uncool.
Why the fuck do always devs fuck up the coin? I dont understand it. If its gonna be relaunched im out. 3 days of mining are worthless. I dont really care about that money but so perspective coin is being buried again.
Oh no we're forking, just calling it a relaunch. Don't worry one of the main things in mind is to reward the people that mined before the fork, also one of the reasons why we are lowering the block rewards by a pretty significant amount.
Then why you don't just say a hard fork is coming? and the reason why?
Haha sorry, that mixup was merely our ignorance of the two terms. Nobody needs to worry about losing their coins, since the block rewards system that we are going to add in is more balanced, the coins that you are mining up until the fork will actually be worth MORE than they would have been under the current system implemented.
March 07, 2014, 10:04:50 AM
I sincerely hope you're forking the current chain instead of relaunching.. Otherwise people will lose 3 days worth of mining..
+1 , relaunch does not seem necessary and would be severely uncool.
Why the fuck do always devs fuck up the coin? I dont understand it. If its gonna be relaunched im out. 3 days of mining are worthless. I dont really care about that money but so perspective coin is being buried again.
Oh no we're forking, just calling it a relaunch. Don't worry one of the main things in mind is to reward the people that mined before the fork, also one of the reasons why we are lowering the block rewards by a pretty significant amount.
Then why you don't just say a hard fork is coming? and the reason why?
March 07, 2014, 09:59:34 AM
I sincerely hope you're forking the current chain instead of relaunching.. Otherwise people will lose 3 days worth of mining..
+1 , relaunch does not seem necessary and would be severely uncool.
Why the fuck do always devs fuck up the coin? I dont understand it. If its gonna be relaunched im out. 3 days of mining are worthless. I dont really care about that money but so perspective coin is being buried again.
Oh no we're forking, just calling it a relaunch. Don't worry one of the main things in mind is to reward the people that mined before the fork, also one of the reasons why we are lowering the block rewards by a pretty significant amount.
March 07, 2014, 09:58:26 AM
March 07, 2014, 09:07:06 AM
I sincerely hope you're forking the current chain instead of relaunching.. Otherwise people will lose 3 days worth of mining..
+1 , relaunch does not seem necessary and would be severely uncool.
Why the fuck do always devs fuck up the coin? I dont understand it. If its gonna be relaunched im out. 3 days of mining are worthless. I dont really care about that money but so perspective coin is being buried again.
I sincerely hope you're forking the current chain instead of relaunching.. Otherwise people will lose 3 days worth of mining..
+1 , relaunch does not seem necessary and would be severely uncool.
If dev relaunches this I officially lose more than 1 BTC worth of Credits
Why relaunching?
They definitely mean fork and not relaunch I talked to them yesterday. They will just implement a more balanced block reward system. This is a good thing for all of us who have mined from the beginning (and for all new comers who are joining the next month)
March 07, 2014, 08:55:41 AM
I sincerely hope you're forking the current chain instead of relaunching.. Otherwise people will lose 3 days worth of mining..
I'm pretty sure they mean forking as that's what they've been saying the whole time. Thanks devs, this really sounds good.
March 07, 2014, 08:37:43 AM
i have a little hope than there don't restart from block 0 because if it was the case they tell it to us and to pool... i hope and i mine again...
March 07, 2014, 08:32:16 AM
Glad I only mined this coin for a whole 2 hours at launch.
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