As this ORE things are mineable forever, does that means the total supply of this coins became unlimited?
If that how it is, then how do you maintain the price of this coins?
The interesting part if you read the original post is that it has "No fixed reward and no fixed supply", depending on mining power it will adjust accordingly if I understand correctly.
There is no calculable supply. Only a likelihood: So for instance there are about:
1.206*10^24 possible ore positions:
On average only 1 in 830k positions yields a hash starting in the range fff4->ffff, which is only the gateway condition, so that reduces the probability to:
1.45*10^18
Then, there are only 9000 magic beans of Unsigned 32 Bit Integer which have to be exactly matched within the hash. Those obviously have a combination of 4,294,967,295 possible values, and the key has 60 chances to match one of only 9000.
This drops the possibilities to (and i've just roughly tried to work this out so please forgive some rounding):
182,306,394,022,900
Now these on average may have a value of around 0.48 veldspar (based on running some numbers this morning).
But, as depletion takes hold an exponential chance of finding ore which has already been mined occurs. Making, the emission not a straight forward line.
ANDThe ORE & Hashes are all incalculable and random. Which makes a straightforward calculation exceptionally difficult. It could be that some sets of bytes yeild many results and some absolutely nothing.
Thanks for the very well detailed explanation, and so like you mentioned in the medium article this is also going to make it very hard to get it listed on exchanges but do you think p2p trading would be possible once transactions are working?