Ninjastic
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Board Service Announcements (Altcoins)
Re: CoinMarketCap.com - Market Cap Rankings of All Cryptocurrencies!
by
fluffypony
on 28/04/2015, 21:54:04 UTC
Quote from: illodin on April 28, 2015, 08:58:47 PM
Quote from: smooth on April 28, 2015, 07:50:30 PM
Quote from: illodin on April 28, 2015, 06:26:13 PM
Quote from: illodin on April 27, 2015, 11:18:25 PM
Quote from: fluffypony on April 27, 2015, 08:28:20 PM
Quote from: BlockaFett on April 27, 2015, 08:07:41 PM
-I refused to read the answer to that question, so I have to keep asking to make it look like I'm right and fluffypony is wrong-

By means of a direct comparison, where Dash's average block reward for the first 4500 blocks was 443 Dash, and 33.5 Dash on average thereafter, let's look at Monero's.

For the first 4500 blocks (like an hour and a bit) the block reward was 17.5 XMR. The average block reward for the 12+ months thereafter is 13.7 XMR.

Do you see the dichotomy?

Wait, are you saying XMR was mined 4500 blocks in the first hour? 4500 * 17.5 = 78,750 XMR, which is worth of 78 BTC using the first weeks' OTC price.

Or did I get some of the numbers wrong.

Could someone please verify/invalidate the numbers above?

Invalid

Coin launch and the first few blocks were 2014-04-18 10:49:53:

http://moneroblocks.eu/search/1

Block 4500 was three days later 2014-04-21 09:36:22:

http://moneroblocks.eu/search/4500

Thanks for the correction. I think the expression "like an hour and a bit" threw me off, could be a language barrier I'm not native English speaker.  Huh

Not you, it's me - I don't know what I meant to put in brackets, but "an hour and a bit" wasn't what I meant:)

In any case it's nonsensical of me to compare block to block, as we have different block times. A better comparison is on the first 48 hours of launch.

The first 5 056 blocks of Dash bring us to the 48 hour mark. This means the average block time for that period was just over 34 seconds, vs. the 2.5 minutes it is today. At the end of the first two days 2 020 652 Dash had been mined. That's 38% of the total Dash in existence today, and 9.18% of all Dash that will ever exist.

The equivalent for Monero is the first 3 037 blocks, which brings us to the 48 hour mark. This means the average block time for that period was just 56.9 seconds, vs. the 60 seconds it is today. At the end of the first two days 53 350 Monero had been mined. That's 0.72% of the total Monero in existence today. As we have infinite tail emission it the actual % it represents tends towards zero, but if we want to take the initial 18 446 744 XMR as a base value (because minimum block reward takes 7.5 years to kick in) then it represents 0.29% of that initial emission.