Guys and girls. I really hate to drop a bomb like this, but sooner or later it will get discussed anyway.
Have you seen block height? Currently we are going on the rate of 1.5 times the daily block count target. For example. Mintcoin with 30sec block target shoud generate 2880 blocks per 24hours. The real result for last 24 hours is about 1.5 times higher. And earlier days are similar.
What it means?
Since all PoW/PoS hybrid coins have interest targets calculated based on nHeight (block number), it means that we will hit the second year interest rate much sooner than 1 year since beginning.
Why this is happening?
Blockchain has more blocks because PoS blocks dont follow original PoW difficulty formula. First 20 days were OK ,because there was no PoS. Since day 20, average daily block rate count has steadily raised.
Remember. This is not only Mintcoin issue. Its an issue of all PoS hybrid coins. Its not harmful in any way, but it just moves all yearly targets a lot closer than written in OP.
Interesting. Can anyone work out a new time table?
Assuming he is correct that we are going at a 1.5 rate, then the 20% annual rate will be 8 months long instead of 12 months, which would mean we will be going to go to the 15% annual rate in approximately 6 months.
If this is even remotely correct, then the coin will be getting rarer faster, which should mean prices increase faster, as supply diminishes sooner. Does anyone know at what block # is the rate reduction supposed to be activated at? Does this also mean that the total coin cap will be less?
With 30 second blocks, one year is 1051898 blocks. Faster blocks will also mean that POS rewards will be issued faster. I'm curious if Blackcoin and Peercoin have the same issue.
That's pretty close to their 1 minute target. The last 100 Mintcoin blocks took about 33 minutes:
So, we currently have 20 second blocks rather than 30 second blocks.