Re: [ANN][LIM]LimeCoin X11 Algo | DarkGravityWave2, 6 Exchanges, LIM/USD MARKET
On the other hand, it could have been a programming error that allowed the difficulty not to change sufficiently. I haven't looked at the source code, but did look at the blockchain. For a 1 minute block time, the first 2000 blocks were solved in about 48 minutes, the fastest being the 35th minute where 102 blocks were solved. Given that huge hashing power comes in, the difficulty should have gone skyhigh, but in fact was I think less than 1 during all of that period, and most of the time was something like 0.03 average. For that difficulty, even a modest rig with say 5Mh would be easily solving blocks in a few seconds.
Actually what is worse is that the fast block times, actually favor the block finder, they have a headstart on the next block and solve it before the others get onto it. Anyway, my 10c worth.
BTW - LC block rewards are 0.007 or less now per block - not much incentive for the miner.
Actually what is worse is that the fast block times, actually favor the block finder, they have a headstart on the next block and solve it before the others get onto it. Anyway, my 10c worth.
BTW - LC block rewards are 0.007 or less now per block - not much incentive for the miner.
I don't think "programming error" is the right term here
Premines are black and white, they're either there or not, and large premines need to be justified. Instamines either go unnoticed, or can be wriggled out of ("it was fair!", "everyone got a chance!", "it always takes a while for difficulty to adjust at the start!", "it was only a few hundred blocks!"). LC dev launched a coin with very low starting difficulty, delayed difficulty adjustment, and rewards heavily front loaded. He's not an idiot, he knew exactly what was going to happen.