Solidcoin's Coin Maximum to be Reached within 6 mo. to 2 yr. - page 2.

CoinHunter

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Quote from: smoothie on August 23, 2011, 05:49:08 AM

Quote from: CoinHunter on August 23, 2011, 05:46:40 AM

Quote from: smoothie on August 23, 2011, 05:42:37 AM

240 blocks at those low rates may turn out to be longer depending on how profitable it is to mine them. Judging from the past with other block chains, solidcoins will likely have long difficulty adjustments even with 240 blocks per period.

Grin

All we can do is wait and see my friend. Currently SolidCoin has the world record for block generation over a 48 hour period. Going by my calculations and from what I have learned studying the networks it's going to take someone with a few million dollars and a personal grudge to slow SolidCoin down. People were saying after 24 hours it was dead, after 48 hours it was dead, and they will keep saying it until it has been proven. I wouldn't expect otherwise.

OR...

Market price tanks and then hashing power flees for the next month or two or three.

So far so good, yes. But given that miners will likely only stay while it is profitable, you will continually need inflow of BTC to the exchanges to pump the price high enough for miners to want to mine solidcoins.

It wasn't profitable today and people were still mining. 250GH. Just because it's not profitable today doesn't mean those coins mined today won't be profitable in a day, week, two weeks or a months time. It's only people like yourself that mined early, sold very low and thought it was some pump-n-dump scam from the start that are suffering.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: CoinHunter on August 23, 2011, 05:46:40 AM

Quote from: smoothie on August 23, 2011, 05:42:37 AM

240 blocks at those low rates may turn out to be longer depending on how profitable it is to mine them. Judging from the past with other block chains, solidcoins will likely have long difficulty adjustments even with 240 blocks per period.

Grin

All we can do is wait and see my friend. Currently SolidCoin has the world record for block generation over a 48 hour period. Going by my calculations and from what I have learned studying the networks it's going to take someone with a few million dollars and a personal grudge to slow SolidCoin down. People were saying after 24 hours it was dead, after 48 hours it was dead, and they will keep saying it until it has been proven. I wouldn't expect otherwise.

OR...

Market price tanks and then hashing power flees for the next month or two or three.

So far so good, yes. But given that miners will likely only stay while it is profitable, you will continually need inflow of BTC to the exchanges to pump the price high enough for miners to want to mine solidcoins.

CoinHunter

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Activity: 252

Merit: 251

Quote from: smoothie on August 23, 2011, 05:42:37 AM

240 blocks at those low rates may turn out to be longer depending on how profitable it is to mine them. Judging from the past with other block chains, solidcoins will likely have long difficulty adjustments even with 240 blocks per period.

Grin

All we can do is wait and see my friend. Currently SolidCoin has the world record for block generation over a 48 hour period. Going by my calculations and from what I have learned studying the networks it's going to take someone with a few million dollars and a personal grudge to slow SolidCoin down. People were saying after 24 hours it was dead, after 48 hours it was dead, and they will keep saying it until it has been proven. I wouldn't expect otherwise.

smoothie

legendary

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Quote from: CoinHunter on August 23, 2011, 05:37:41 AM

Quote from: smoothie on August 23, 2011, 05:32:16 AM

It is either 240 blocks or 12 hours for readjustment, not 48 hours. Or did I read your website wrong? LOL

It's ok, I can help you with the math. 240 blocks is only 12 hours when running at 3 minute blocks.

If hashing power is balanced at say 1 million diff and blocks are at 3 minutes and all of a sudden hashing power drops to 250K then to readjust it's going to take 4 times longer. ie 48 hours. Hope that helps. Good luck with your future trades.

Ahh I see. Thanks for the clarification.

Although I still see that difficulty adjustments may take longer than you expect.

Ixcoins has bout 213 blocks to readjustment and their hourly rate of block generation is 0.333 blks/hr.

So they will have a 26.6 day readjustment period on 213 blocks.

240 blocks at those low rates may turn out to be longer depending on how profitable it is to mine them. Judging from the past with other block chains, solidcoins will likely have long difficulty adjustments even with 240 blocks per period.

Grin

CoinHunter

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Merit: 251

Quote from: smoothie on August 23, 2011, 05:32:16 AM

It is either 240 blocks or 12 hours for readjustment, not 48 hours. Or did I read your website wrong? LOL

It's ok, I can help you with the math. 240 blocks is only 12 hours when running at 3 minute blocks.

If hashing power is balanced at say 1 million diff and blocks are at 3 minutes and all of a sudden hashing power drops to 250K then to readjust it's going to take 4 times longer. ie 48 hours. Hope that helps. Good luck with your future trades.

smoothie

legendary

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Quote from: CoinHunter on August 23, 2011, 05:21:40 AM

Quote from: smoothie on August 23, 2011, 05:02:17 AM

Here is why Solidcoin will mature much faster than 2022:

Example:

Say the unprofitable difficulty is at 16,000.

So in 12 hours the network could reach 4,000 difficulty.

See that's where you're wrong!

A difficulty 16000 down to 4000 would mean a drop off at least 400% in hashing power. This means the 12 hours would blow out to 48 hours and 3 minute blocks now become 12 minute blocks (at least).

Now you see why SolidCoin is so stable ? And thanks again for selling so low.

Still not seeing your math dude. It takes 12 hours to bring the difficulty down by max 400%. But it can take a few weeks depending on the hashing power to get the difficulty back up. Now getting the difficulty back up is where the blocks get generated thus increasing the supply immensely.

Didn't you also say there are 2 daily difficulty adjustments? Then how would 12 hours blow out to 48 hours?

It is either 240 blocks or 12 hours for readjustment, not 48 hours. Or did I read your website wrong? LOL

CoinHunter

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Activity: 252

Merit: 251

Quote from: smoothie on August 23, 2011, 05:02:17 AM

Here is why Solidcoin will mature much faster than 2022:

Example:

Say the unprofitable difficulty is at 16,000.

So in 12 hours the network could reach 4,000 difficulty.

See that's where you're wrong!

A difficulty 16000 down to 4000 would mean a drop off at least 400% in hashing power. This means the 12 hours would blow out to 48 hours and 3 minute blocks now become 12 minute blocks (at least).

Now you see why SolidCoin is so stable ? And thanks again for selling so low.

smoothie

legendary

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Quote from: Fletch on August 23, 2011, 05:04:58 AM

And you felt this needed a new topic because?

Because I can... Tongue

Fletch

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I'll have a steak sandwich and a... steak sandwich

And you felt this needed a new topic because?

smoothie

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Quote from: CoinHunter on August 23, 2011, 03:07:11 AM

Quote from: smoothie on August 22, 2011, 12:53:51 AM

I've cashed out buddies. Not bad for 12 hours of mining. 30 BTC..........BAM!

EDIT: I mean 32 BTC.

Thanks for selling so low. Much appreciated.

Here is why Solidcoin will mature much faster than 2022:

Example:

Say the unprofitable difficulty is at 16,000.

So in 12 hours the network could reach 4,000 difficulty.

With 50 GH/s it would take about 15 days to get difficulty back to 16,000 while generating approximately 14.5 * 240 blocks * 32 coins = 107,520 coins in the process.

To go through the entire cycle and go back to 4,000 difficulty it could take about 15.5 days.

Current coin total is ~ 599,456 coins and difficulty is 3060. So obviously with my example I am underestimating the coin output by using 16,000 as a barrier for unprofitability.

So 18,900,000 - 599,456 = 18,300,544 coins left to be mined.

At a rate of 107,520 coins every 15.5 days being mined it will take (18,300,544 / 107,520) * 15.5 days = 2638 days or 7.22 years.

Now given that there is likely more hashing power than 50 GH/s to be put on the network let's look at the current peak hash rate of Solidcoins since inception of say approximately 250 GH/s.

That would make maturity of solidcoins at 7.22 / 5 = 1.44 years.

Now given that the difficulty will likely not stay high at 16,000 for very long I suspect the 1.44 years in maturity will probably be more like 6 months if the price of solidcoins takes off.

Topic: Solidcoin's Coin Maximum to be Reached within 6 mo. to 2 yr. - page 2. (Read 2871 times)