+1
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.
1. Anyone with an opposing view point is automatically a hater, or has a huge stash of some other coin (which I don't.)
2. The thread title is ironic because you guys all sound like the FTC guys right up until they got dumped on, and they all slithered away to their own forums. I understand Quark is not Feathercoin. Quark was (somewhat) innovative in using multiple random hashing algorithms (other coins have used similar methods before Quark), but the economic model was poorly thought out IMO. Only the people that mine in the first 6 months are going to be the ones trying to support and develop this coin. Bitcoin and Litecoin are popular because of their fair release and slow reduction in block reward.
Lets say you hear about Scrypt mining 6 months after the release of Quark coin and you're looking at what you want to mine. If you decided to mine Quark coin, even with 100% of the network hash rate, it would take you 247 YEARS to mine what you could of mined with the first 6 MONTHS of 100% the hash rate (note: the 1million/0.5% anually seems off, is it on a logarithmic or lineal scale?)... Who in the heck is going to sign up for that? Good luck protecting your network from botnets... they have a lot of CPU power.. less so GPU power. Custom hardware like ASICs are a good thing, because they force Botnets out.
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.
1. Anyone with an opposing view point is automatically a hater, or has a huge stash of some other coin (which I don't.)
2. The thread title is ironic because you guys all sound like the FTC guys right up until they got dumped on, and they all slithered away to their own forums. I understand Quark is not Feathercoin. Quark was (somewhat) innovative in using multiple random hashing algorithms (other coins have used similar methods before Quark), but the economic model was poorly thought out IMO. Only the people that mine in the first 6 months are going to be the ones trying to support and develop this coin. Bitcoin and Litecoin are popular because of their fair release and slow reduction in block reward.
Lets say you hear about Scrypt mining 6 months after the release of Quark coin and you're looking at what you want to mine. If you decided to mine Quark coin, even with 100% of the network hash rate, it would take you 247 YEARS to mine what you could of mined with the first 6 MONTHS of 100% the hash rate (note: the 1million/0.5% anually seems off, is it on a logarithmic or lineal scale?)... Who in the heck is going to sign up for that? Good luck protecting your network from botnets... they have a lot of CPU power.. less so GPU power. Custom hardware like ASICs are a good thing, because they force Botnets out.