Quote from: ctenc001 on January 23, 2014, 01:57:58 PM

Quote from: smartcoin on January 23, 2014, 01:30:25 PM

Quote from: MickeNorsk on January 23, 2014, 12:35:22 PM

Quote from: miramare on January 23, 2014, 08:13:34 AM

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? Huh

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.

Quote from: The One on January 23, 2014, 01:10:15 PM

Quote from: ctenc001 on January 23, 2014, 12:46:25 PM

Quote from: smartcoin on January 06, 2014, 05:51:59 AM

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?

significantly better =)
i'd still try to include a max% change instead of letting it jump up and down so much an unlimited amount though. Or Kimoto's gravity well if you still have time (im sure this is way more complicated).

While it would allow for more instamining early on; this can be avoid by making the first ~500 blocks equal to 0 coins.

without this implemented the coin behavior will be as follows: 540 blocks per 6 hours, means 90 an hour is the target.
lets say you have 100 MH/s nonmultipool miners, and 1 GH/s multipool miner joins the pool. this adds 10x the hash rate; meaning all 540 blocks will be mined in about 35 minutes instead of 6 hours. At this time the difficulty jumps up until 1 GH/s mines 540 per 6 hours. The multipool would then leave; and the remaining 100 MH/s would then take 60 hours to complete the 540 blocks.
So you would have 35 minutes of easy, profitable mining; and then 60 hours of unprofitable mining. My math could be off, but you get the basic idea.

Same concept for 60 block without max% or kimoto's gravity implemented; just to a lesser extent.

basically you only want your difficulty to jump up until your just barely not the most profitable coin to mine so that multipools avoid you adn they screw someone else over instead =p

We will be seriously considering adopting Kimoto's Gravity Well from Megacoin. It may delay the launch but we'll do our best.