Post
Topic
Board Altcoin Discussion
Re: New gold-backed cryptocurrency INNcoin allows you to mine gold for free
by
ekstremista
on 06/07/2015, 21:22:46 UTC
Yes, let's mine this out. I am solo mining at about 6 Mhash and getting a block every few minutes at this difficulty. I am debating whether or not I should convert a few of my grams of gold to their Hayekcoin.

Someone please check my 'rithmetick, but it appears the 10M coin limit will be reached today in a matter of hours.

Rewards are decreased every 21900 blocks according to this schedule: { 50,48,45,42,40,39,37,35,34,32,30,25 }. Thus, there are 21900*12=262800 total blocks. As of now, 262600 blocks have been mined, so only 200 remain. Given the 2-minute target per block, we have about 400 minutes left.

Incidentally, the number of coins should be 21900*(50+48+45+42+40+39+37+35+34+32+30+25)=10008300, which is a bit more than 10M, or am I off?