Ninjastic
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Board Altcoin Discussion
Re: [ANN] RealCoin [A new e-commerce business platform]
by
jwzguy
on 08/02/2012, 20:05:29 UTC
Quote from: SgtSpike on February 08, 2012, 07:26:33 PM
Quote from: bitlane on February 08, 2012, 07:22:06 PM
Quote from: TheGlobber on February 05, 2012, 10:01:59 AM
The plan is to be fair to all miners. If you are a good helping miner then you dont have to worry about anything. This is just an extra layer of protection for the business nothing more than that and as said in the future it could be removed allowing for a completely decentralized service.


Please explain mining further. What incentive to miners have to give this 'coin' a second thought ?
COMPENSATION ......................HuhHuhHuhHuh?
Transaction fees are the compensation.  It won't bring in a huge number of miners (especially at first), but as the number of RLC transactions build, the number of RLC fees will build as well, slowly bringing in more miners.  If 100 1 RLC transactions are made in a block, then that's $100 of fees that goes to miners.  That's the same as a block reward from Bitcoin when Bitcoin was worth $2.00/BTC, and there was around 8 TH/s of miners at that point.

In that case, why would anyone mine when there are no transactions?