Re: [ANN] Elacoin | Releasing In 1 Day | Fair Elastic Scrypt Mining | No Premine
Bitcoin may be still be great for a store of value, but Elacoin would be better for getting everyone in. People who are new to cryptocurrencies can still mine it, and merchants will be happy to accept it because people will want to spend Elacoin.
The inflation is also limited by the halving every 9 months (it's not a sudden jump through, it's a smooth decrease).
Let's say you start with 100kh/s, 1 coin per block, only 1 person, 1 coin/person per block
At block 50 you reach 200kh/s, 1.5 cons per block, shared by 2 persons, 0.75 coin/person per block
At block 100 you reach 500kh/s, 2.5 coins per block, shared by 5 persons, 0.5 coin/person per block
So:
- I understand that hashpower:reward is not linear, so early adopters will still get an higher reward
- How this is going to fight inflation?
- Don't you think that people will fight inflation converting elacoin to bitcoin/litecoin until there are some merchants?
- And how long do you think it will take to make this happen? See litecoin
Maybe it's a good idea, maybe not, who knows, see you in a few hours
EDIT: Also, could you explain how you are going to control diff and value using Moore's law which doesn't consider it. Thanks