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Freicoin: demurrage crypto-currency from the Occupy movemenent
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Topic: FRC – High rate of demurrage or exchange error? 2.3% loss in 4 days? (Read 649 times)
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You've just been occupied!
April 23, 2013, 09:29:06 AM
Demurrage is quite difficult to handle for any exchange and web wallet while the block generation frequency is fluctualting (though after the last diff change it has been very near avereage, and stable). The exchange is expected to hold back a reserve to be on the safe side to prevent losses. Maybe the coins you can see are just the ones availiable for placing in an order? And there might be some additional coins in another account of yours, held back to cover demurrage for the period until order is filled?
April 23, 2013, 08:26:34 AM
I'm now at 61210.45358287 and going down.
This exchange is a great place to store your coins...
I've emailed their support. If I don't get a response/resolution I'll make more noise here...
This exchange is a great place to store your coins...
I've emailed their support. If I don't get a response/resolution I'll make more noise here...
April 23, 2013, 08:07:17 AM
If the hash-rate is very much higher than the difficulty you can get a noticable higher rate of demurrage. But 2.3% in 4 days can't happen. Anything more than 1% per month is practically impossible.
You can calculate the demurrage rate directly from the number of blocks solved in the time interval. The average is supposed to be 2016 per every two weeks. So if 2.3% is to be correct there would be solved about 5 months worth of avg. blocks in those 4 days, which is 20160 (and we are now at approx. block 24500 in total from 21.12 2012). So we have had about 2.5% demurrage of FRC until now, but that only for the coins generated (and held) shortly after the genesis block.
You can calculate the demurrage rate directly from the number of blocks solved in the time interval. The average is supposed to be 2016 per every two weeks. So if 2.3% is to be correct there would be solved about 5 months worth of avg. blocks in those 4 days, which is 20160 (and we are now at approx. block 24500 in total from 21.12 2012). So we have had about 2.5% demurrage of FRC until now, but that only for the coins generated (and held) shortly after the genesis block.
That is a great answer. Thank you!
April 23, 2013, 07:46:09 AM
If the hash-rate is very much higher than the difficulty you can get a noticable higher rate of demurrage. But 2.3% in 4 days can't happen. Anything more than 1% per month is practically impossible.
You can calculate the demurrage rate directly from the number of blocks solved in the time interval. The average is supposed to be 2016 per every two weeks. So if 2.3% is to be correct there would be solved about 5 months worth of avg. blocks in those 4 days, which is 20160 (and we are now at approx. block 24500 in total from 21.12 2012). So we have had about 2.5% demurrage of FRC until now, but that only for the coins generated (and held) shortly after the genesis block.
You can calculate the demurrage rate directly from the number of blocks solved in the time interval. The average is supposed to be 2016 per every two weeks. So if 2.3% is to be correct there would be solved about 5 months worth of avg. blocks in those 4 days, which is 20160 (and we are now at approx. block 24500 in total from 21.12 2012). So we have had about 2.5% demurrage of FRC until now, but that only for the coins generated (and held) shortly after the genesis block.
April 23, 2013, 06:06:57 AM
On the 19th of April this month I had 62,655.74118307 FRC. On the 23rd, 4 days later I now have 61,211.21246082 FRC. That’s a loss of 1,444.52872225 FRC or 2.3%.
Has that occurred through demurrage or should I be taking this up with the exchange where the FRC are stored?
I still can't claim to fully understand the demurrage mechanism.
Has that occurred through demurrage or should I be taking this up with the exchange where the FRC are stored?
I still can't claim to fully understand the demurrage mechanism.
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