can anyone answer to this
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i recently have had some doubts about the current supply of 14,383,080,442 XVG. Not that it is too much, but i think we are to close to the maximum supply. We mined in last 5 month 1 billion coins, if this will continue, the mining will end in 2 years from now. Where is then the reason to mine that coin and invest computing power to it? The only reward will then be the transaction fee? Where does this lead? Can somebody answer this questions? I have a big bunch and will hold it anyway, but i fear the network will get slower then or even get stuck? To 16,555,000,000 XVG is only to billion left. If verge gets now more popular, the mining mighjt get even faster. Where and when does the difficulty adjust and how does it ensure that miners will not leave the network? Is there an overview of expected behavior of the network for different scenarios?
thanks
1 billion in 5 months? where did you create that figure from?
714,000 to 2,124,000: 1,560 coins <- we are here
2,124,000 to 4,248,000: 730 coins - this is next
a few of us were brainstorming the other day in our discord chat, and came up with about 7 years left of proof of work... (before the block reward becomes transaction fees)
I remember me starting with verge mid/end of august, it was at 13.8 billion (coinmarketcap)
And in that time i also have seen a video (uploadee 19.07.2017) where is mentioned that there are 3 billion left to maximum supply... 19.07.2017 to 15.12.2017 is roughly 5 months... and now we have roughly 2 billion left... maybe the numbers are not absoultely correct, but even if they are wrong, 7 years seems to be wrong as well and little much optimistic.
https://youtu.be/sr-Co01ZKMU?t=168look at the halving schedule, and do the math.
30 seconds blocks, 2 blocks per minute, x 24 hours, x 365 days in a year
Thanks for the informations. Where to find the shedule? Could you write down the next steps in the shedule?
Maybe i did something wrong (please correct me), but here is the math:
From block 714.000 to 2.124.000 the reward per block is 1.560 coins (actual!)
So actual coins mined per year is 1.639.872.000
2 blocks per minute X 60 minutes X 24 hours X 365 days = 1051200 blocks per year
1051200 blocks per year = 1.639.872.000 coins reward per year.
We are at blockheight 1.723.604 and till next halving we have to go 400.396 BLOCKS (Equals 624.617.760 COINS)
400.396 to go at current reward level with 2880 BLOCKS per day means halving of the reward will be in 139 days (EQUALS 4.6month)
(THIS means 624.617.760 COINS in 4.6 MONTH are mined)
Current supply is 14.386.503.099 + 624.617.760 (reward in next 139 days)
RESULTS IN 15.011.120.859 supply on third of May 2017.
AFTER third of may 2017 will remain 1.543.879.141 COINS till maximum supply is reached. (and 2.124.000 BLOCKS to next reward halving)
FROM THAT DAY ON the number of new coins per year will be 767.376.000 (The max supply will be reached 2,011 Years after 03.05.2017)
FROM THAT DAY ON (03.05.2017) the time to reach next halving will be after 2,0205 years. That means, the halving would happen after the max. supply is reached... so never.
The last verge will be mined at 03.05.2020. From that day on the only reward will be the fee.