Information to clear up how Elacoin works.

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

Quote from: Milkshake on May 14, 2013, 02:02:16 AM

Quote from: kibu on May 14, 2013, 12:49:22 AM

It is fail because there is basically an endless amount of coins being mined, because the more miners - the more coins there will be. So it doesn't matter if you start mine now or in two months, you should always get the same amount with your hashrate. While this may seem 'fair', on second thought you may realize this is not the solution, as there is no scarcity.

And without scarcity the coin will have no value.

You absolutely wouldn't, the block reward constantly decreases

relaunch your coin, it was a good idea.

just get a p2pool ready that will hold and collect 10% that will be your reward i think is fair too so no need to mine on your netbooks or whatever 10% of a good strong p2p on the first days will bring in a ton of coins.

and get a pro to compile the windows exe

get help with both those things if you need, i would ask blastbob to help you with the p2pool and also he seems to be someone that most trust and will not premine. I am sure he can compile the windows thing too for you.

then release again asap before another coin just uses your idea.

releasing with working p2pool will be awesome.

Yuri.

full member

Activity: 236

Merit: 100

Topic: Information to clear up how Elacoin works.

It doesn't

Milkshake

member

Activity: 98

Merit: 10

Milkshake

Quote from: kibu on May 14, 2013, 12:49:22 AM

It is fail because there is basically an endless amount of coins being mined, because the more miners - the more coins there will be. So it doesn't matter if you start mine now or in two months, you should always get the same amount with your hashrate. While this may seem 'fair', on second thought you may realize this is not the solution, as there is no scarcity.

And without scarcity the coin will have no value.

You absolutely wouldn't, the block reward constantly decreases

milly6

legendary

Activity: 1632

Merit: 1010

That would be true if there were an infinite amount of coins being created, however there is a set amount. I think it's a neat idea because given bitcoin the God of all coins setting the baseline value of all cryptos....don't we all deserve a fair shot? Couldn't that be the point of cryptochange anyway? The value might not be much...but hey someone might be able to get their hands on a BTC who might not have been able to otherwise...IMHO ;-)

kibu

newbie

Activity: 55

Merit: 0

It is fail because there is basically an endless amount of coins being mined, because the more miners - the more coins there will be. So it doesn't matter if you start mine now or in two months, you should always get the same amount with your hashrate. While this may seem 'fair', on second thought you may realize this is not the solution, as there is no scarcity.

And without scarcity the coin will have no value.

alex_fun

full member

Activity: 196

Merit: 100

who knows.

Allods

newbie

Activity: 23

Merit: 0

Elacoins is fail.

alex_fun

full member

Activity: 196

Merit: 100

His reward code line 884 int64 nSubsidy = ((1 + (diff / 24)) * COIN) / (1 + (nHeight / 194400));

Topic: Information to clear up how Elacoin works. (Read 822 times)