Topic: Death of Quark - page 2. (Read 3512 times)

Exactly, only 7 months... Was this not predicted?

I think PoS is very good idea to secure the network for qrk.

Interesting, I did not know about that.

But, if it is a mining pool wouldn't it make more sense to have each wallet running as a full node? You are going to end up with a huge centralized pool that way, right? It's not like there's much to be made mining anyway.

I still don't agree with the reward structure. Makes no sense to have no reward 7 months in 

Quark's network is an issue - there is no denying it at this stage. However, this is in the process of being dealt with. The Quark Foundation has already completed a fundraiser to obtain money to start a Foundation mining pool (http://www.quarkfoundation.cc/projects/). This is planned to be coupled with an auto mining wallet tied to the Foundation Pool, which uses 5-10% of the cpu's processing power of the host computer to mine while the wallet is open. As Quark's adoption improves, there will be a higher average number of open wallets, leading to a higher hash rate. The Quark community is actively looking to remedy the issues - we are still only 7 months or so since it's inception.
Vic

All I know is, if I had quark I'd be mining still. But, from my rather quick understanding, a 290 will get ~1.6MH/s mining quark. So, that's the equivalent of 500 r9 290's controlling the entire network. I'd bet there are farms out there with 250 or more r9 290's in one building!

But who pays ~$450 (500 r9290x250W/1K*.15/hr*24) to earn $112 bucks? How can you take a coin serious, if you can bring it to it's knees with $225,000 of hardware? (290@$450) Especially when that hardware is already out there at a much larger scale?

If anything, quark is highly overvalued considering the strength behind it. You say they support it, but I don't really see it.

Does anyone here mine quark? Mind showing off your equipment?

I would say it is the quark community which supports the network instead of botnet.

Part of me thinks the only one still mining quark right now is botnets, and they only do it because it's free. The hash rate is what, 800mh/s? From 3.5gh/s at a peak?

Quark hits blocks at 30 second intervals, right? Reward is currently 1 coin, and there is hardly any transaction volume. So, the miners, all miners, must fight for 2880 quark coins in a 24 hour period. That is $112 dollars a day, right now, for the entire network. Who mines that? There's hardly any transaction fees to collect, either, if there even were fees. Numbers do not lie...

http://bitinfocharts.com/quarkcoin/

So why is the network going to stay, other than speculation using free hardware and electricity? Those guys have no loyalty. If doge can steal so much of litecoin's hash rate so quickly, you'd be insane to think it couldn't happen again. Your coins aren't worth squat if you can't move them. Who is going to step up and fill the gap when/if it really starts to look bad? Why would they, when they could just sell out and walk away? What other person not holding quark would front the cash for hardware? What would there reward be? Are you going to buy mining hardware, and run it for free, just to attempt to reverse an ever sinking exchange rate?

I don't think the coin is broke, but the reward model is. Next closest thing to premine, leaving absolutely nothing for people in the future to work for. At some point, you will likely be vulnerable enough to be trolled by tiny botnets and server rentals, just for the fun of it.

So, besides the "your mother" and "lol miss the train" replies, does anyone see a flaw in my logic?

Let's compare Mintcoin to Quarkcoin.

Mintcoin:

 - 30 seconds block target
 - 100000 - 900000 coins per block initially
 - PoW payout will be halved every week for the first 5 weeks
 - After 5 weeks, the PoW payout will be fixed at 1 coin per block

Quarkcoin:

* Quick block generation: 30 seconds
* 2048 QRK per block (halving every 60480 blocks ~ 3 weeks)
* Block reward will never drop below 1 QRK

Would you agree that the reward per block of Mintcoin decrease faster than that of Quarkcoin?

at 1st i heard about Quark beiing premined but i made my self research and it wasn't people speaards FUD it is just
crying i think quark was fair.
Quark just started new era of coins fast distrybuted promotin early adopters buyers than later on...
In 6month none cares about quark price 200 then when it get attention all cry premine but i should be
i missed train f.u. scam coin. quark was fair.
Not fair action is like with NXT which ~73% of all coins never touched exchange here all was on exchange but noone cares.
No others spam quark clones...
Quark start new type distribution but i wasn't unfair, i don't own even one quark but i can't blame that coin for that it has different distribution.
Almost all coins hitted market... Coins were selling for nothing 200-50 sat then when price rised and it eat some market share for other alts like LTC flame started
just because Quark made those coins less profitable and miners are trying to defend their coins and spread FUD.
But when you investigate problem mostly all is just flame of jealous miners who missed train.

Quark like other coins is fighting to survive with other clone Cryptos market currently is flooded by trash.
Some of those coins are different it is hard to find that hidden gems like hmm DRK,ANC,BC,HUC,DTC,FATE...
Those Xbilion script coins are spawning around like zergs zerlings to eat BTC...(ah and those premines...)
But in reality 90% of new coins don't brings nothing new they just lead Quark and other crypto down.
Exchanges like cryptsy,mintpal,cryptorush with paid votes help even with those premine scams this is real problem of new alts coins.
At least on BTC usualy ane more unique coins on which is woth take some attention.

Quark won't die as many (script-miners wants) low price doesn't mean death people ...
This is market price once go up once go down.

Quark can be mined forever.  1 million / year.  Not 1 year, not 5 years, not 20 years...forever. 

Most coins hit a hard cap and done.  Bitcoin will have long ago hit 21,000,000 and never a new bitcoin made...while Quark will still be mining along at 1million/year.

it is poor decision making, that's what it is.

once a coin cannot be mined, the only way for the mass to have it, is trade it.
or giveaways.

Quark will be the first coin to die. and we will witness it soon as one day, one large wallet realize they need to cash or never get anything.


maybe that's tomorrow.

Those other coins did not do it to the degree that Quark did.  In fact Quark claimed this was an advantage, so I don't know why people try to bash people who point out the very front loaded block rewards for mining.  It's not premine, it's not instamine, but it was damn unattractive to later arrivals, good luck making it work!

You might not know quark in the first 6 months. But it doesn't mean anybody else didn't know.

Great to hear. The early dumps by miners led to a pretty wide distribution. Also, while many aren't fans of Bill Still here, you cannot deny the effect he has had on the coin. Ignoring the huge pump (investors trying to manipulate the market) after he endorsed the coin, he has put so many crypto-newbies into the Quark camp. A ton of his viewers have small (100-1000$) investments and they are the grassroots that crypto needs. I just wish they understood the coin better..and I wish Bill understood better.

Additionally, some people think that the coin was mined by very few, but if you look at the hash rate, there was a lot of mining power going into this coin at all times

Noone knew about Quark in the first 6 months, therefore a small amount of people own most of the coin making it potentially VERY UNSTABLE no matter what anyone says.   

Well as I mentioned before Qubitcoin is next Quark...dont miss the ride,you can still jump in.

Don't feed the troll and the thread will die.

It is with Dogecoin, ProtoShares, Infinitecoin,  Mintcoin also. Do you also consider those coins are unfair?

This is with every coin, the first 6 months with every coin give you a strong advantage. After a while things will get lot harder to even roi. They where mad they missed the opportunity which was there for 6 months. I didn't mine any Quarks i bought them and i don't whine. Afteral the majority won't mine Cryptos, it's too complicated with much maintenance for the average joe. You would be better to just buy it.