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Let's be frank: this is a "fair start" relative to something like Quark, but IMO it's hardly a "fair start" as a coin meant to stand the test of time. Bitcoin and Litecoin were designed to stand the test of time. They give out steady block rewards for years, not months! Even with the 10K blocks at the start being worth next to nothing, the coming weeks will have a deluge of MRC hit the market. Maybe I'm getting the math wrong, but here's what it looks like to me:
From blocks 10,001 through 360,000 we will mine 25,500,150,000 MRC:
(10001+160000) * 150000 = 25,500,150,000
After that, we will continue to mine out 10K to 1K blocks, dropping by 0.01 per block as we generate another 4,950,000,000 MRC:
(10000 + 1000) * ((9000 / 0.01) / 2) = 4,950,000,000
Given that the average block time is targeting 32 seconds, that means we will finish with the biggest block rewards (through block 310,000) in about 115 days from the time Microcoin first launched -- and we are already on block 43323. From there, it will be another 900,000 blocks (1,210,000 total) before we hit the steady 1K block rewards. This will take approximately 333 days. That means in the first 448 days of existence, we will generate the first 30.45% of all MRC, but more importantly the first 115 days will generate 25% of all MRC. By contrast, in the same 115 days Bitcoin and Litecoin generated just 3.9% of the total supply of coins for their respective currencies. DOGE by comparison will generate around 50,000,000,000 coins in the first 69 days, then half that amount in the next 69 days, and so on. So yes, MRC is better than DOGE in the sense of being "fair", but DOGE tends to be an anomaly -- none of the other attempted meme coins have come anywhere close to matching its performance.
Incidentally, I mined about half a million MRC in one day using a single 7950. The same GPU can mine about 0.0044 BTC worth of LTC per day. Thus, a fair valuation of MRC right now at best would be 0.000000009 BTC per MRC. Except, we're still on the leading edge of the massive mining spree for MRC, so I'd say the price might be less than 1% of that in a month or two. But if hundreds of thousands of people suddenly believe MRC is worth mining, things could shift dramatically -- again, witness DOGE, which was created as a joke. If you want to try mining something "fair" that isn't standard scrypt, I'd be more inclined to go with Vertcoin (VTC). Not only is the current valuation far better than MRC, but it has the same rate of coin generation as LTC. But I do have to admit that I like the name Microcoin more than Vertcoin. :-p
TL;DR: this coin is "fair" compared to some coins, but IMO it will be mined out a lot faster than coins built to last. Plan to hold MRC accordingly. I'm done mining it for now and will sit on my 500K to see if they're worth something in a year or two. Wish me luck!
PS: Feel free to correct my math if I screwed up anywhere. LOL.
From blocks 10,001 through 360,000 we will mine 25,500,150,000 MRC:
(10001+160000) * 150000 = 25,500,150,000
After that, we will continue to mine out 10K to 1K blocks, dropping by 0.01 per block as we generate another 4,950,000,000 MRC:
(10000 + 1000) * ((9000 / 0.01) / 2) = 4,950,000,000
Given that the average block time is targeting 32 seconds, that means we will finish with the biggest block rewards (through block 310,000) in about 115 days from the time Microcoin first launched -- and we are already on block 43323. From there, it will be another 900,000 blocks (1,210,000 total) before we hit the steady 1K block rewards. This will take approximately 333 days. That means in the first 448 days of existence, we will generate the first 30.45% of all MRC, but more importantly the first 115 days will generate 25% of all MRC. By contrast, in the same 115 days Bitcoin and Litecoin generated just 3.9% of the total supply of coins for their respective currencies. DOGE by comparison will generate around 50,000,000,000 coins in the first 69 days, then half that amount in the next 69 days, and so on. So yes, MRC is better than DOGE in the sense of being "fair", but DOGE tends to be an anomaly -- none of the other attempted meme coins have come anywhere close to matching its performance.
Incidentally, I mined about half a million MRC in one day using a single 7950. The same GPU can mine about 0.0044 BTC worth of LTC per day. Thus, a fair valuation of MRC right now at best would be 0.000000009 BTC per MRC. Except, we're still on the leading edge of the massive mining spree for MRC, so I'd say the price might be less than 1% of that in a month or two. But if hundreds of thousands of people suddenly believe MRC is worth mining, things could shift dramatically -- again, witness DOGE, which was created as a joke. If you want to try mining something "fair" that isn't standard scrypt, I'd be more inclined to go with Vertcoin (VTC). Not only is the current valuation far better than MRC, but it has the same rate of coin generation as LTC. But I do have to admit that I like the name Microcoin more than Vertcoin. :-p
TL;DR: this coin is "fair" compared to some coins, but IMO it will be mined out a lot faster than coins built to last. Plan to hold MRC accordingly. I'm done mining it for now and will sit on my 500K to see if they're worth something in a year or two. Wish me luck!
PS: Feel free to correct my math if I screwed up anywhere. LOL.
I think the Devs should change the parameters of this coin and drop the coins block reward to random between 50-100 after block 160k instead of decending to 1000. I think 1000/block is still to much inflation for longterm
