Re: ••• [ANN][SMC] SmartCoin • GET 60 FREE SMC • FAIR DISTRIBUTION • RELEASE INFO •••
Let's do some maths.
"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."
And OP hope at least 8000 ppls will researve SMC (each will receive 60 ).
The total amount will be ~8000* 60~ 480,000!
Or is sth wrong? 800 ppls instead of 8000 ppls?
"45,000 SMC will be divided equally and given to the people who reserved their SMC beforehand."
And OP hope at least 8000 ppls will researve SMC (each will receive 60 ).
The total amount will be ~8000* 60~ 480,000!
Or is sth wrong? 800 ppls instead of 8000 ppls?
It's as you quoted.. "45,000 SMC will be divided equally"
If 8000 reserve SMC we'll only get 5.625 SMC (45000/8000)
But more likely "only" 1000 will reserve (45000/1000) = 45 SMC
But what I'm a bit confused about is the 15 SMC bonus for the signature.
Will that also be drawn from the 45,000 pot?
In that case, if 1000 signup, we'll still get 45 SMC and not 60.
If it's a seperate pot for the bonus, what if 8000 signup, that will be 120,000 SMC if all get a 15 SMC bonus.
Please clear this up for me
//Michael
We predict 1000 regular sign ups and about 50 bonuses (750 SMC) so the math works out because we will just take 750 out of the developer bounty.
PoW Algorithim: Scrypt
Block Interval: 40 seconds
Starting Difficulty: 0.00024414062
Difficulty Retarget: Every 540 blocks (6 hours)
Total Coin Supply: ~51,200,000
I feel like the difficulty retarget time needs to be reduced dramatically. Take a look at catcoin, and ronpaulcoin. As soon as a multipool hits this coin, they'll mine until next retarget, difficulty will skyrocket, they'll leave, and then there will not be enough hash left for us to meet the next retarget time.
Its far better to set retarget time to something like ~54 instead of 540 blocks, and to limit the change to 10% or so instead of allowing it to jump 5000% because one multipool joined in for a few minutes. This can be handled otherways, this just seems like the easiest way to have a smooth difficulty retarget.
Every coin i've seen with a retarget this high either forks 2 weeks after launch or dies.
Concur with ctench.....lower the DR to 50 to 60 or implement the Kimoto's gravity well. The coin will die.....RPC will survive the mistake due to the popularity of the name (branding) but Smartcoin branding is weak at the start.
We've definitely looked at ways to reduce instamining, but didn't really take the rehash rate into consideration. The good news is that its still changeable even though we will be tighter on time. How does an 60 block (~40 seconds) difficulty rehash sound?