Re: [ANN][GAP] Gapcoin - Prime Gap Search - New Math Algo - CPU / GPU

Incidentally, if Gapcoin ever achieved ASIC' level. The Coin supply would RAPIDLY RISE with the difficulty Rise.

From the website and announcement

Quote

* Block reward proportional to the current difficulty
* Block reward halving every 420000 (about 2 years)
* Cap: about 10 - 30 million GAP
* Difficulty adjusts every block and increases logarithmically (it will probably take years to get to 50)

Fair launch:
* Gapcoin was not designed to enrich the early adopters or the coin creators! Unlike Primecoin, the more people mine Gapcoin, the more coins per block will be produced. (Coin supply will increase logarithmically with the difficulty, this means it will grow in the beginning, but later, it won't change much.)

Now there are ~ 16 million.

It isnt clear to me exactly how production increases. j0nn9 was doing what all devs, including Satoshi Nakamoto did. He was pretending the coin was not issued to favor early adopters. ...snip...

Big difference between "production increase" vs noninflationary 'growth' overtime ...

Remember: The Gapcoin mining reward is the block reward plus the prime gap (network difficulty) and fees.

Simply view any Gapcoin blocks raw data on the block explorer ...

This 'feature' is incentive to mine (value) and to discover bigger prime gaps.

Hence,

* Cap: about 10 - 30 million GAP
* Difficulty adjusts every block and increases logarithmically (it will probably take years to get to 50)

The total number of Gapcoin produced depends on the network mining difficulty.

One day the prime gap merit reward per block will outweigh the block reward, it already outweighs the current transaction fees. Cheesy

Gapcoin is quite literally Bitcoin code plus the mathematical laws of nature.

PoW at its finest. The economic model itself is genius.

P.S. I sometimes wonder why folks don't question further why a Bitcoin 'old timer' like myself is so interested in at least maintaining this seemingly unloved project.

N+1

The bottom line really is that 16 million coins exist already, and the block reward has halved a few times.

So most of the incentive is with people who hold the coin already.

If you want to strengthen your argument you would make a best case example of how many coins would be issued if the network became active.

There are already 16 million coins issued to people who mined the altcoin winter.

Under the best possible scenario, how many coins could be issued in future years?

Block 100,000 April 2015 2,300,000 coins

https://chainz.cryptoid.info/gap/block.dws?9f71c39ec777fa17296962cd61b0889d50a13e1709a6f4b430d6d53cd5efc54e.htm

Block 200,000 September 2015 4,500,000 coins

https://chainz.cryptoid.info/gap/block.dws?a3c68367258526a34533610865b6bba58348f868ce125e0d39554a651f837cb3.htm

It doesnt really look great, but it is a decent coin otherwise.