Re: [ANN] Elacoin | Releasing In 1 Day | Fair Elastic Scrypt Mining | No Premine
Thanks for the announcement. This should be interesting, I've been waiting for a coin that has a block reward based on difficulty. Hope the launch goes smoothly, it seems with the new coins, the launches are getting worse and worse, we could really use a smooth one 
As I understand, the reward is proportional to the hash power? Or is it proportional to the current difficulty?
As I understand, the reward is proportional to the hash power? Or is it proportional to the current difficulty?
Can't you read between the lines? Its the same scumbags doing the same "litecoins scammed before GPU mining was possible so we are going to scam too but 100's of times more because we have not only GPUs now but also hundreds of times as much Ghashes than litecoin had".
-MarkM-
I understand that all future launches will follow the same disaster as long as starting difficulties are 0, it sucks that all the launches are nothing but latency races now. This one surely won't be different at launch, there will still be just as many orphans. What I am interested to see is how the low starting reward works out. There have been several coins (BitBar, Mincoin) that started with a high reward that dropped quickly, so most of the coins in existence were mined right away when latency was the tie breaker, by the time mining was working right, the reward was nearly nothing. If the reward started low, shouldn't the result be that there aren't many coins mined total until the difficulty gets up to a reasonable level?
It could all be avoided with a higher starting difficulty though, like you've said many times.