I noticed the new version 10 (assuming it hasn't been updated) was due to kick in at block 50000 with the new rewards. I saw a comment that the cost of production will rise to 20-30 cents per coin. Is this right? The exchange price is still around 0.2-0.3 cents.
(watching for the economics of revaluation - for example, http://en.wikipedia.org/wiki/Zimbabwean_dollar is a fun read)
Topic: What effect will changing the block size from 32 to 5 have on SC? - page 8. (Read 8720 times)
October 31, 2011, 08:50:58 PM
October 28, 2011, 01:11:16 PM
To answer the question posed in the thread title:
It will make SC2 look even more retarded than it already does.
It will make SC2 look even more retarded than it already does.
October 28, 2011, 12:25:28 PM
The effect should be pretty obvious.
1. Miners will hit it hard before the block size change, trying to hoard the coins as much as possible.
2. The price will rise, but only temporarily.
3. Miners, now getting more than 6 times less the amount of SC per watt, will stop mining.
4. The difficulty will fall because no one is stupid enough to mine more for less, and the price with it.
5. People will continue mining at the lower difficulty, effectively causing stabilizing the price exactly where it was before, if not lower due to lack of confidence or interest.
This is the same thing as if he [Coinhunter/realsolid] were to generate tons of coin just for himself (which he already is), as it increases the real value CH has (compared to USD/BTC) while decreasing the real value miners may obtain. It will effectively cause a difficulty and price crash.
1. Miners will hit it hard before the block size change, trying to hoard the coins as much as possible.
2. The price will rise, but only temporarily.
3. Miners, now getting more than 6 times less the amount of SC per watt, will stop mining.
4. The difficulty will fall because no one is stupid enough to mine more for less, and the price with it.
5. People will continue mining at the lower difficulty, effectively causing stabilizing the price exactly where it was before, if not lower due to lack of confidence or interest.
This is the same thing as if he [Coinhunter/realsolid] were to generate tons of coin just for himself (which he already is), as it increases the real value CH has (compared to USD/BTC) while decreasing the real value miners may obtain. It will effectively cause a difficulty and price crash.
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