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I am creating a new cryptocurrency and I would like to ask a recommendation of the amount of coins to be mined per block.
Originally I was thinking to mine 10 coins per block every 15 seconds. This would give me 20 million coins per block in a year. It looks like this would be too much for a new , unknown currency, so it would not appreciate quickly. But if I set the reward per block to 1 coin (2 million coins per year), this would not be very appealing for miners to mine it. Considering that the currency was not yet emitted in sufficient amount, it would be a problem to acquire it in large quantities for investors.
So my question is, based on your experience, is the scarcity of a cryptocurrency a big problem ?
p.s.
exponential difficulty increase in time is not planned for this currency, linear (constant) difficulty is the choice
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I am creating a new cryptocurrency and I would like to ask a recommendation of the amount of coins to be mined per block.
Originally I was thinking to mine 10 coins per block every 15 seconds. This would give me 20 million coins per block in a year. It looks like this would be too much for a new , unknown currency, so it would not appreciate quickly. But if I set the reward per block to 1 coin, this would be not very appealing for miners to mine it. Considering that the currency was not yet emitted in sufficient amount, it would be a problem to acquire it.
So my question is, based on your experience, is the scarcity of a cryptocurrency a big problem ?
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Idea is good. But one day FBI will knock on your door, steal all your money and next day dailymail will publish a report that your exchanger was used to do child porn and money laundering. Check how they destroyed liberty reserve.
I checked Wikipedia, it says: The United States charged founder Arthur Budovsky and six others with money laundering and operating an unlicensed financial transaction company. it says "unlicensed" and it was in Costa Rica. You are making a good point, so for this to do not happen again we have to operate such company within USA and comply to all regulations. Not sure if this this "technically" viable though, not a lawyer. We need to put this idea into reality ASAP because this is the only brake for cryptocurrencies to become widely accepted. |
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I am offering development of cryptocurrencies, like
- create a Bitcoin-like currency
- create a Ethereum-like currency
- setup a multipool
and many others
Inexpensive development services, send private message for details.
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I wanted to create my own cryptocurrency. Fine, just download the software, install it on the server and you are done. But to get it listed, I have to pay Cryptopia 40,000 USD !!!! What the hell ? Is this service really worth so much money? So, I thought about this: What if we create a cryptocurrency exchange , which would be as big as Forex market , where listing and exchanging your currency there would be free, or if not free, very cheap, same as cheap as registering domain name. After all, it is not a big deal to create a currency exchange, or is it ?? If blockchain technology is going to help us to remove intermediaries out of the way this is a perfect case for it. And it is not going to be owned by anyone , it will be a community project, so no player with big power would monopolize cryptocurrency exchange. Is there any initiative about such thing already going on ? Maybe such project is already in development and I am late to the party, as always? Or maybe this is an impossible thing to do? I am new to this and I would appreciate your comments. p.s. References: Lol yes.
I just bought the 1M and now I see 5M!!??
What is this?
close to 10 BTC for listing a coin? 40.000$?
It must be a joke or a mistake.... The price is determined by our capacity to list a coin. If too many listings come in and we can't keep up, the price goes up and we do our best to catch up on the backlog. If the backlog clears, we lower the price. If you want to get your coin listed now while we're under load, then you can pay the current price. Or you can try and wait until the price goes back down. |
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I wanted to create my own cryptocurrency. Fine, just download the software, install it on the server and you are done. But to get it listed, I have to pay Cryptopia 40,000 USD !!!! What the hell ? Is this service really worth so much money? So, I thought about this: What if we create a cryptocurrency exchange , which would be as big as Forex market , where listing and exchanging your currency there would be free, or if not free, very cheap, same as cheap as registering domain name. After all, it is not a big deal to create a currency exchange, or is it ?? If blockchain technology is going to help us to remove intermediaries out of the way this is a perfect case for it. And it is not going to be owned by anyone , it will be a community project, so no player with big power would monopolize cryptocurrency exchange. Is there any initiative about such thing already going on ? Maybe such project is already in development and I am late to the party, as always? Or maybe this is an impossible thing to do? I am new to this and I would appreciate your comments. p.s. References: Lol yes.
I just bought the 1M and now I see 5M!!??
What is this?
close to 10 BTC for listing a coin? 40.000$?
It must be a joke or a mistake.... The price is determined by our capacity to list a coin. If too many listings come in and we can't keep up, the price goes up and we do our best to catch up on the backlog. If the backlog clears, we lower the price. If you want to get your coin listed now while we're under load, then you can pay the current price. Or you can try and wait until the price goes back down. |
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