Post
Topic
Board Announcements (Altcoins)
Re: Vertcoin - 1 | ASIC - 0 | Lyra2RE | Decentralised | GPU Mineable | Open Source
by
ontopicplease
on 29/12/2014, 18:19:42 UTC
https://vertcoin.org/wp/ann-vertcoin-elasticity/

Quote
it is now a matter of implementation

Share some details please, otherwise it sounds like block reward will rely on exchange api/price.


As far as I understand; no demand and low price results in small blocks and vice versa. So, first I set my miners on VTC, then immediately buy the coins on exchanges, then block reward goes skyhigh, then I mine even more coins. Everyone wakes up and starts buying VTC, then I mine even more and then I sell all VTC for nice price.