Block rewards are far too high - Discuss


#21

If we are mining just under 6m coins per day and the price is just under £0.005 per coin, we need about £30,000 per day of new money to buy up the mined coins.

To me, in a multi-billion £ market, that doesn’t seem like too much money yet we still drop a small % each day.


#22

Ok, so the disadvantage with lowering the block reward then is that more miners would switch off. That would lower the computational power threshold required to carry out a 51% attack. Is there a way to mitigate against that? I think Verge have a very low 51% attack threshold


#23

That’s if you assume the price will not go up.

Lowering supply should increase demand assuming you lower it to the correct levels. If you lower it to less than the typical daily volume, price will rise. If you lower it to where it is still higher than demand, then what you are saying is a big possibility.

There is a calculated risk in messing with emissions. If you do it wrong, you set yourself up for exactly what you mention. But if you do it right, an increased price mitigates the lower emissions thus making it worth to mine. It’s not the number of coins that matter to the miner…it’s the value those coins bring. Increase the price on fewer coins is an acceptable trade off.


#24

EMPTY BLOCKS STILL WHY IS THIS STILL GOING ON???


#25

I’m just glad @Crypto_Kangaroo put the work in to create the Thors Hammer pools, makes it SO easy to do just that. Mine Conceal for ETN. Don’t have to futz around with an exchange.

You hop on to the new Conceal algo yet?

I’m not new to actual mining at all, but sometimes I still take a step back and look at what’s going on. I mean, my simple computer is earning me digital money! On it’s own, without constant input from me! Wow. :grin:


#26

If there are no TX in the TX pool then it’s normal to have empty blocs.