[ANN][DCR] Decred - Community Governance | Bitcoin Devs | Lightning Network

[sambiohazard]

Finally a serious hybrid altcoin project without an ICO/crowdfunding scam attached.
I looked into the website and wiki, but didn't find the detailed emission specifications. Is that information available yet?

Looking forward to the launch!  

it's premined. guess they mine for themselve since some months.

It's 8% premined, half of which (4%) are going towards the developers, and the other half (4%) towards the public airdrop.
I second the interest on detailed emission information, PoW and PoS rewards, etc.

You can get some of the info here.

https://bitcointalk.org/index.php?topic=1290358.msg13278747#msg13278747

For details you can read the white paper/dered brief (https://decred.org/dtb001.pdf).

Also exact starting reward is 31.13408239.

You can read this paper to know details of how mining/staking will work: http://mc2.xwebnetwork.com/storage/mc2_0.05.pdf

[Gleb Gamow]

Am I correct in figuring that the airdrop to a max 5,000 folks equates to $82.32 USD each?

[Jero]

Merry X-mas to all of you. Lets look what 2016 brings for all of us 

[Gyrsur]

Am I correct in figuring that the airdrop to a max 5,000 folks equates to $82.32 USD each?

don't know how they will set a price of $0.49 on a free market. but yes this are my figures too.

[dbt1033]

Any plans to merge mine with BLC and the other coins in the Blake ecosystem?

Is this 8 round blake?

[_ingsoc]

Am I correct in figuring that the airdrop to a max 5,000 folks equates to $82.32 USD each?

That's correct, assuming 5k people sign up for airdrop and it fetches USD 0.49 per coin. The exact numbers will be made public once the airdrop process is complete. The cap is set that high on purpose, so it can be as inclusive as possible - given that this project isn't built on hype. If it fetches less than than in USD, the devs lose because that's what they'll be buying at/exchanging for - that's set in stone now. The risk of the project is carried by the devs. If it fails, they lose the years spent working on it and the money they put in.

don't know how they will set a price of $0.49 on a free market. but yes this are my figures too.

Nobody can determine what the price will be. That's how much it cost to develop and what's given to the community, so it's based on that:

• USD 165,000 in unpaid work and individual purchases by developers to fund the project
• USD 250,000 cost of developing the project, in terms of developer pay, which c0 paid to developers
• USD 415,000 airdrop made available to the community to "balance" the aforementioned costs (165,000+250,000)

Therefore, ((165,000+250,000+415,000)÷(21,000,000×0.08)) = USD 0.494047619 per coin. Anything less than that on a free market and the devs lose. Airdrop participants win at > USD 0, albeit in smaller quantities since 840,000 coins are divided between the community - but bear in mind this isn't a hype project, so there's no telling what the final number of participants will be. You can at least work it out based on the hard cap put on the number of participants.

[General-Beck]

Russian announcement
https://forum.bits.media/index.php?/topic/19156-dcr-decred-gibridnyi-powpos-btcsuite-devs-tonny-novykh-vozmozhnostei-go-18012016/
https://bitcointalk.org/index.php?topic=1305009.new#new
http://general-beck.info/ethereum-эфиpиyм/635-decred-dcr-гибpиднaя-pow-pos-кpиптoвaлютa,-go-peaлизaция

[JPred]

My mom taught me even as a youngster in my early childhood years something she learned from her mom and applied it to her own life:

"its not whether you win or loose that matters most, but how you play the game".

I have a feeling Decred is all about how everyone is going to play the game together.

I feel so lucky I came across this thread, it gave my heart a jump for joy.

[Acidx]

I've sent you a PM on reddit, OP. Hope you have time to reply.

[adhitthana]

Any plans to merge mine with BLC and the other coins in the Blake ecosystem?

Is this 8 round blake?

What are the other coins in the blake eco-system?

[dbt1033]

Any plans to merge mine with BLC and the other coins in the Blake ecosystem?

Is this 8 round blake?

What are the other coins in the blake eco-system?

Blakecoin, Photon, Electron, etc...

All merge mined atm...Blake-256

[decred]

Any plans to merge mine with BLC and the other coins in the Blake ecosystem?

Is this 8 round blake?

Just so you know, this isn't being ignored. Passed on the questions and just waiting for the devs to come back with some information on this issue (future plans, and so on).

[GeorgeAurea]

Am I correct in figuring that the airdrop to a max 5,000 folks equates to $82.32 USD each?

That's correct, assuming 5k people sign up for airdrop and it fetches USD 0.49 per coin. The exact numbers will be made public once the airdrop process is complete. The cap is set that high on purpose, so it can be as inclusive as possible - given that this project isn't built on hype. If it fetches less than than in USD, the devs lose because that's what they'll be buying at/exchanging for - that's set in stone now. The risk of the project is carried by the devs. If it fails, they lose the years spent working on it and the money they put in.

don't know how they will set a price of $0.49 on a free market. but yes this are my figures too.

Nobody can determine what the price will be. That's how much it cost to develop and what's given to the community, so it's based on that:

• USD 165,000 in unpaid work and individual purchases by developers to fund the project
• USD 250,000 cost of developing the project, in terms of developer pay, which c0 paid to developers
• USD 415,000 airdrop made available to the community to "balance" the aforementioned costs (165,000+250,000)

Therefore, ((165,000+250,000+415,000)÷(21,000,000×0.08)) = USD 0.494047619 per coin. Anything less than that on a free market and the devs lose. Airdrop participants win at > USD 0, albeit in smaller quantities since 840,000 coins are divided between the community - but bear in mind this isn't a hype project, so there's no telling what the final number of participants will be. You can at least work it out based on the hard cap put on the number of participants.

Totally correct, thanks for doing the nice calculation.

Am I correct in figuring that the airdrop to a max 5,000 folks equates to $82.32 USD each?

Close. The airdrop to a max 5,000 folks equates to 168 coins, not USD.

It depends on how this coin will fare and evolve, before a single coin would be equating a rough $0,49 in USD value (or several thousands satoshi).

[Gyrsur]

Also exact starting reward is 31.13408239.

so they mine for themselve since about 3 years?  

are the figures above correct?

Code:

Year	Coin supply	Inflation
1	470426769731536	180.015934364
2	725516828588937	54.2252429646
3	940676990098927	29.6561227847
4	1122157371491044	19.2925290299
5	1275229809050507	13.6409064761
6	1404340975270235	10.1245411065
7	1513241532111717	7.75456664437
8	1605095069693740	6.06998523586
9	1682569994083979	4.82681218409
10	1747913757492611	3.88356880477
11	1803028628435353	3.15318022451
12	1849516235066977	2.578306628
13	1888726978324850	2.12005401815
14	1921799891692961	1.75106904003
15	1949695723833590	1.45154718039
16	1973224843465019	1.20680982903
17	1993070776474089	1.00576135937
18	2009810059460965	0.839873986637
19	2023928395353035	0.702471152715
20	2035836535103161	0.588367640746

[sambiohazard]

Also exact starting reward is 31.13408239.

so they mine for themselve since about 3 years? 

are the figures above correct?

Code:

Year	Coin supply	Inflation
1	470426769731536	180.015934364
2	725516828588937	54.2252429646
3	940676990098927	29.6561227847
4	1122157371491044	19.2925290299
5	1275229809050507	13.6409064761
6	1404340975270235	10.1245411065
7	1513241532111717	7.75456664437
8	1605095069693740	6.06998523586
9	1682569994083979	4.82681218409
10	1747913757492611	3.88356880477
11	1803028628435353	3.15318022451
12	1849516235066977	2.578306628
13	1888726978324850	2.12005401815
14	1921799891692961	1.75106904003
15	1949695723833590	1.45154718039
16	1973224843465019	1.20680982903
17	1993070776474089	1.00576135937
18	2009810059460965	0.839873986637
19	2023928395353035	0.702471152715
20	2035836535103161	0.588367640746

Generally premined coins are part of block subsidy for genesis block, so when that block will be mined by devs to start the chain, they will have 8% of 21 million coins. Later on they will send it to airdrop participants & keep 420,000 coins as a compensation for last 3 year of work they did. That is how it generally works.

[bhokor]

If the coin works premine is not a big problem, but if it doesn't then this can dump the market and broke the coin to 1 sato, let 's hope this one will work

[sambiohazard]

@decred is there any work being done on better nvidia miners? I have nvidia cards but they practically useless for this algo. I guess if there is a bounty more devs will come up with better miner. nvidia miner devs are all in flame wars and almost all of them complain about not getting paid. If we dont have a bounty they will sell their optimization as private miners to big farms which is not good for hashrate distribution. I hope you are looking into this as well.

[sambiohazard]

If the coin works premine is not a big problem, but if it doesn't then this can dump the market and broke the coin to 1 sato, let 's hope this one will work

I think this will work. Also not everyone will dump their airdrop. but even if half of people dump their airdrop then its ~25% of initial supply + miners dump. If coin works well, which i am sure it will, then people will hold in anticipation of price rise & dumps will be more sparse. It will be interesting to see where market will decide to put the price at start as they will already have a figure of $0.49 in mind.

[decred]

If the coin works premine is not a big problem, but if it doesn't then this can dump the market and broke the coin to 1 sato, let 's hope this one will work

It goes against the self-interest of the devs to dump anything - since that would hurt the project and therefore any future dev they do on it. So the first 4% is secure. The second is distributed amongst the community, so the dumps will be much smaller if they occur. No different to what miners will accumulate. Hard to give any guarantees, since it's all based on a rational actor model, but in theory it checks out.

[Gyrsur]

If the coin works premine is not a big problem, but if it doesn't then this can dump the market and broke the coin to 1 sato, let 's hope this one will work

It goes against the self-interest of the devs to dump anything - since that would hurt the project and therefore any future dev they do on it. So the first 4% is secure. The second is distributed amongst the community, so the dumps will be much smaller if they occur. No different to what miners will accumulate. Hard to give any guarantees, since it's all based on a rational actor model, but in theory it checks out.

what is the reward if you go public?