Quote from: digitalindustry on December 21, 2013, 11:25:28 PM

Quote from: georgem on December 21, 2013, 07:29:37 PM

or maybe I misunderstood this.

Is EQ-Reward simply the name of the 1-million-coins-a-year period ?

Or is this something new that will be added?

ha ha did you actually read this:

http://forum.qrk.cc/thread/874/quark-secured-after-initial-distribution

it actually really clearly explains it and bolds and underlines the key points:

-----------------------------------------------------------------------------------------------------------------------------

**** Ok guys sorry for the slow response here - i have been busy and hopefully i can show you some of the results of my work soon -

****** when you come from a "Crypto" background you take things for granted - and I never let people push a narrative onto me , ( i'm not saying this reasonable question was aiming to do that by the way ) , but i have noticed an increase of chatter around this issue -

so lets explain - how Quark will be secured -:

What is the EQ Reward :

Quark has an EQ Reward

EQ reward Stands for "Equilibrium Reward"

One thing I did learn from Bill Still and other master economists is that a "Fixed" Currency supply is the best possible option when there are options .

Quark aims to be a Fixed currency supply by having an Equilibrium (EQ) Reward that both replaces lost Quark and allows for population and economics energy growth -

Quark is still deflationary - but not as harshly deflationary as say Bitcoin or Litecoin and many of the other "coins".

This EQ reward , serves as a reward for miners , so as it is the base that attempts to keep the supply "fixed" it is also the reward for miners to continue to mine for Quark -

--------

Question; is the EQ Reward enough incentive ?

Answer yes probably:

but :

Lets explain:

--------

What are "Transaction Fees" and why are they important to Bitcoin and Litcoin ; Why and how does Quark have no Transaction fees ?

Bitcoin and Litecoin both have fairly reasonable Transactions fees , so to explain that :

if Joe send Bill 2000BTC there is a fairly decent transaction fee involved , This Transaction fee is meant to be used to recycle back to miners as a reward ( as Bitcoin is fixed harshly at less than 21 million)

^ so notice here to drive this point home , no new BTC was issued instead it was paid by Joe when he sent Bill the 2000BTC , after Joe paid the fee, it gets put back into the "Block reward" to be mined randomly by someone that owns an "ASIC"

in contrast:

Quark provides its users and investors with a Fee FREE environment this is because of the EQ reward , this means that if you are a SME or small business ,or a home business ; www.keepitwooden.com/ < (i'm buying some : D) you have no fees to worry about what so ever -

However if the EQ Reward was not looking like it would be enough incentive (for miners) we would likely introduce a very small fee < now it is important to understand this is not inflationary as just like Bitcoin this is just existing Quark being recycled back to Miners -

We would throw this to the Quark community for feedback - , but rest assured the fee would be lower than BTC or any other Crypto as Quark has massive volume , the fee would only need to be tiny - .

So in this case the Reward would look like this

(EQ Reward + Small Fee) = Miners incentives .

^ out of the above simple equation only, I believe that the Quark community would be more than happy to pay a slight fee back to its miners - which are also probably the same community - and to help secure Quark for everyone into the future -

---------

Then on top of that >

We know some of the best coders in the game that have been making Cryptocurreny since its inception there are many security measures that can be put on top of this ; rest assured we have powerful enemies now , some people really do hate free markets and they hate freedom .

but no matter how powerful they think they are - they are not bigger than the free market , no matter what they believe . and Freedom is an idea that does not die easily.

Well explained thank you