What's going to happen once all the quarks are mined? Won't the miners stop mining therefore halting the blockchain and transfer of coins?
LOL i mean quark pretty much shot itself in the foot.
LOL i mean quark pretty much shot itself in the foot.
It never stops being mined. Apparently someone can't read.
The reward will drop dramatically. It means that to keep the network secure from a botnet you must keep miners mining. How ?
Nobody will keep mining if the electricity cost will be higher than the reward.
And even if the reward will be higher than cost it will be far lower than what miners can get from mining other altcoins.
That's why Satoshi came up with a halving idea over long periods of time, to allow transactions to grow in numbers and replace the block rewards, and it was a good one.
This is indeed interesting point of view but look at Bitcoin, if the price of 1 BTC would be $1 then anyone would mine it?
The question is if quark will naturaly achieve the price that will be worth of mining after 247mln coins.
I don't know that, I would like someone who is more into Quark technical details to answer that.
Is here some
one?
Even at the 1$ it will cover the cost in electricity for 1500 cointerra miners , 1,5 PH of hashing.
No botnet can provide this much hashpower.
http://mining.thegenesisblock.com/
Doesn't look like that.
Monthly cost for one is listed at 60$.
3000 btc/day x 30 days . 90 000 usd.
TerraMiner IV 2TH/s
So 2000 Gh/s
One TerraMiner needs 1200W
Electricity Costs ($/kWh) in USA about 15c
If BTC would be for $1 and even I put zero cost of hardware we are on big minus.
I don't know how you did your calculations.
How about you do the math on how much 1200W means in montly cost?
Or , you go to that window on http://mining.thegenesisblock.com/
And look at Monthly Power Costs?
Secondary you said if the price would be 1$. Forever? Not assuming any growth?
That would mean the project is dead anyhow.
Secondary. Cost of botnet: 0. If I might quote:
It is underpriced in that it generally costs more to make QRK than it sells for, but I think it's a PnD that's already on it's death throes due to lack of support from merchants or any use.
How much does it cost a botnet to produce 1 QRK? Remember stolen computing power and stolen electricity = 0.0000. CPU coin = botnet coin. Whatever you can produce with a single CPU the average botnet can produce 10,000x as much at near 0 cost. It never had a future.