Quote from: coins101 on April 28, 2015, 08:15:16 AM

Let me just have a recap on the Darkcoin launch, as I wasn't there.

* Evan was a noob crypto dev when he started Darkcoin.
* He forked Litecoin and set the original max coin supply as ~84m (the same as Litecoin)
* According the DASH/DRK FAQ, around 2m coins were mined in the first 48hrs until the difficulty re-targeting was fixed.
* If DRK had not changed emissions to ~22m, the initial mine would have been 2m out of 84m, which is 2.5%.
* The DRK change means that 2m coins were mined in the first 48 hrs, which amounts to ~9% of DASH max coins.

* Our Trollero friends seem to accept that LTC spewing out 450k LTC in the first few hours of its launch is an acceptable number

Quote from: smooth on April 27, 2015, 05:12:35 PM

snip-
1.2% of the current supply. Not significant.
snip-

In fact, something less than 2.5% of maxcoins spewing out at launch seems to be an acceptable number.

Well, 2m of 84m of DRKs original maxcoin supply is less than 2.5% - which they say is acceptable.

As Darkcoin was a fork from Litecoin, it is probably safe to say that the original difficulty parameters were the same. Evan apparently didn't know about the difficulty re-targeting in Litecoin, being a noob crypto dev at that point.

Well, the Litecoin code is still there:

Quote

Litecoin - a lite version of Bitcoin optimized for CPU mining using scrypt as a proof of work scheme.
- - 2.5 minute block targets
- - subsidy halves in 840k blocks (~4 years)
- - ~84 million total coins
-The rest is the same as bitcoin.
- - 50 coins per block
- - 2016 blocks to retarget difficulty

Seems to me that if it is acceptable for LTC to have a mass dump of coins in its first few hours, then the code it came with did the same for Darkcoin.

Before we move on, let's remember that Satoshi started the trend of making coins easy to get at the start:

Quote

You can get coins by getting someone to send you some, or turn on
Options->Generate Coins to run a node and generate blocks. I made
the proof-of-work difficulty ridiculously easy to start with, so
for a little while in the beginning a typical PC will be able to
generate coins in just a few hours.

So the issue is not that Darkcoin had a fast initial emission of coins, because at the time 2m of 84m was less than 2.5% and according to our Trollero, that is within the bounds of acceptability.

The issue is that the max coin supply was changed from 84m to 22m.

Well, lets start with Trollero coin. I seem to remember that they discussed a change to the Trollero coin emission curve, in the same way that the Darkcoin community discussed a change. In fact, both communities had a vote. Here is Trollero coin vote:

https://bitcointalk.org/index.php?topic=585480.0

Well it seems to me that I remember voting for a change of the Darkcoin coin supply too, just as the Trolleros did:

https://bitcointalk.org/index.php?topic=525093.msg5824264#msg5824264

So now the original 2.5% of 84m max coins fast mine becomes 9% of 22m DASH, by the community voting for such a change.

So where does that leave the Trolleros?

* Well, it leaves them with a claim that 2m coins of the current supply is ~5m coins is over 35%.
* It also leaves them with a scam mine of their own amounting to a minimum of 2.5% of their own max coin supply.

The Trolleros are very good at changing history to suit their needs.

The trouble is the facts are what matter, and the fact that Monero had a scam launch won't change.

Actually coins101, I think the problem was because he didn't have his algorithm correct. I may be remembering incorrectly, but that equation that determines how many coins are rewarded based on hash rate was changed to fix the spewing of coins problem. Then, when we were trying to woo "investors", we agreed to reduce the number of coins minted over time. It went from ~80 million coins to ~20 million coins by the insertion in the code of a reduction of 7% per year of coin rewards. So for the first year, there was no change. This year, you'll notice, our minimum reward went from 5 coins to 4.65. And this reduction every year is what is reducing the total possible coins to under 20 million.

Does that help?

The earlier version of this thing:

Block reward is controlled by: 2222222/(((Difficulty+2600)/9)^2)

The original version was flawed