[ANN] Viacoin (VIA) - Safe | Segwit | Lightning Network | Auxpow | Fast

[JoostB]

It seems the mining rewards for VIA have changed quite a lot, originally it was:

Code:

int64_t GetBlockValue(int nHeight, int64_t nFees)
{
    int64_t nSubsidy = 0;
    int tHeight = 5256000; // reduction frequency: 3600 * 365 * 4

    // different zero block period for testnet and mainnet
    // mainnet not fixed until final release
    int zeroRewardHeight = Params.AllowMinDifficultyBlocks() ? 2001 : 7001;

    int rampHeight = 43200 + zeroRewardHeight; // 4 periods of 10800

    if (nHeight == 0) {
        // no reward for genesis block
        nSubsidy = 0;
    } else if (nHeight == 1) {
        // first distribution
        nSubsidy = 10000000 * COIN;
    } else if (nHeight <= zeroRewardHeight) {
        // no block reward to allow difficulty to scale up and prevent instamining
        nSubsidy = 0;
    } else if (nHeight <= (zeroRewardHeight + 10800)) {
        // first 10800 block after zero reward period is 10 coins per block
        nSubsidy = 10 * COIN;
    } else if (nHeight <= rampHeight) {
        // every 10800 blocks reduce nSubsidy from 8 to 6
        nSubsidy = (8 - int((nHeight-zeroRewardHeight-1) / 10800)) * COIN;
    } else if (nHeight <= tHeight) {
        // first 4 years
        nSubsidy = 5 * COIN;
    } else if (nHeight <= (2 * tHeight)) {
        // next 4 years
        nSubsidy = 4 * COIN;
    } else if (nHeight <= (3 * tHeight)) {
        // next 4 years
        nSubsidy = 3 * COIN;
    } else if (nHeight <= (4 * tHeight)) {
        // next 4 years
        nSubsidy = 2 * COIN;
    } else if (nHeight <= (5 * tHeight)) {
        // next 4 years
        nSubsidy = 1 * COIN;
    } else if (nHeight <= (6 * tHeight)) {
        // next 4 years
        nSubsidy = 0.5 * COIN;
    }

    return nSubsidy + nFees;
}

[mt55]

Big advantage when holding a big bag for VIA coins since a few weeks ago but I've sold it and re-bought some now for long-term investment.

I think VIA is definitely worth it to be considered a long-term holding.

[kinng113]

Big advantage when holding a big bag for VIA coins since a few weeks ago but I've sold it and re-bought some now for long-term investment.

I think VIA is definitely worth it to be considered a long-term holding.

I def hope so, hopefully after august 1st the coin can go to the moon

[romanornr]

I'm compiling the executables for Viacoin 0.13.3 official release!
Expect more news coming up.

[wheelz1200]

I'm compiling the executables for Viacoin 0.13.3 official release!
Expect more news coming up.

Awsome great to hear

[wheelz1200]

Viacoin Block Reward Halving happened !
Reward per block: 0.3125 $VIA

So when will we hit 23million?
And what happens next? Hashrate down to almost zero?

you might as well have asked "what will happen when bitcoin hits 21million"
you should read up on how real crypto works,
where do you think transaction fees go, etc

In short, once block reward stops with cryptocoins, the network is hopefully so busy by that time that the transaction fees are high enough to keep mining interesting.

I have no clue how this coin (or any coin for that matter) works in general, but does the transaction fee really go to the miners? Or is it sent elsewhere, maybe to an address owned by the developers?
 

Of course all the transaction fee goes to the miner who solved the block.

Maybe I'm mistaken but I always thought that transaction fee and miner rewards are two totally different things, and that miner rewards are created out of thin air, otherwise how can there be coin inflation?

Of course you can program this in every way you want, to know what is really going on you have to examine the source-code in detail and that is something I never did.    

They are 2 seperate things.  Miner rewards are the coins created with each found block.  Tx fees are the fees paid by people moving/sending via from one place to another.  The miner who finds the block gets the new (miner rewards) and all of the fees from the transactions bound in that particular block

[btsfreak]

Basically merge mining works like this:
When a miner mines a block for LTC, it will get LTC rewards. If he is merge mining for VIA, that solved block hash is accepted by VIA blockchain as ProofOfWork (not 1:1, depending on the hash complexity, e.g. solving 1 LTC block grants you 3 VIA blocks - this is ultra simplified, just for giving a rough idea!).
So even if the reward from VIA goes near zero, it is actually still cool for a miner to do merge with VIA cuz he doesnt have to use any resources to get a small additional reward (plus the fees).

[btsfreak]

Meaning that: With a very high probability, as long as LTC gets mined, VIA will get mined, too.

[KLONE]

My guess is Clearwater is from the previous developer. Not sure how that would work.

Yes, clearwallet was from the previous dev, but seems a lot of VIA are trapped there.

We need a tool to get via private keys from clearwallet wallets, I have my clearwallet pass phrase, and will pay 5k via bounty if someone installs working clearwallet wallet so I can get my via out.

Good bounty, eventually those 5K VIA well get some action, but very disappointing the dev doesn't care to help his community - everyone only follows the master of MONEY

[JoostB]

Basically merge mining works like this:
When a miner mines a block for LTC, it will get LTC rewards. If he is merge mining for VIA, that solved block hash is accepted by VIA blockchain as ProofOfWork (not 1:1, depending on the hash complexity, e.g. solving 1 LTC block grants you 3 VIA blocks - this is ultra simplified, just for giving a rough idea!).
So even if the reward from VIA goes near zero, it is actually still cool for a miner to do merge with VIA cuz he doesnt have to use any resources to get a small additional reward (plus the fees).

Yes, I understand what merged mining is, what I don't understand is why solving 1 LTC block grants you 3 VIA blocks since both coins are using the same hash function, but lets say this is by design, maybe this has something to do with the difference in block-times.

When the mining rewards are getting very small I don't think that miners are very interested in keeping the coin alive when they have to make changes to their code-base to keep things working. You already see this happening right now, it takes very long before f2pool starts signaling segwit for VIA, it gives me the impression that it has not a high priority for Wang Chun (if any) otherwise it would have worked already (assuming the bugs in 0.13 are solved by now).

[skidog]

Not good to release now, wait until an up trend....should be soon....

[dazbog835]

I've been jumping between being totally excited for viacoin and becoming unsure of its future. On the one hand it seems like it's ahead of a lot of other coins, but still... It's basically trying to solve the same problem as LTC right?

What do you guys think of the coin? What makes you optimistic about it?

[superskillz]

I've been jumping between being totally excited for viacoin and becoming unsure of its future. On the one hand it seems like it's ahead of a lot of other coins, but still... It's basically trying to solve the same problem as LTC right?

What do you guys think of the coin? What makes you optimistic about it?

Yes, I think it's similar to Litecoin, but with a bigger focus on anonymity. In fact -- I think of it as the bronze to Litecoin's silver to Bitcoin's gold

If you want to help get Viacoin successful, I suggest downloading and running core. It takes ~4-6 hours to download the full blockchain, but then it's good to go.

[Xosihc]

Congrats on VIA signaling segwit 

[romanornr]

https://twitter.com/f2pool_wangchun/status/891130408988942337

[yaoye0o]

https://twitter.com/f2pool_wangchun/status/891130408988942337

Hell yeah! That's awesome.   

Good project, good development, good devs and good community can only mean that this one is a good coin to hold and I am really greatful that  the kind of coin which is good to hold long term.

[joshvdk]

I've been jumping between being totally excited for viacoin and becoming unsure of its future. On the one hand it seems like it's ahead of a lot of other coins, but still... It's basically trying to solve the same problem as LTC right?

What do you guys think of the coin? What makes you optimistic about it?

Yes, I think it's similar to Litecoin, but with a bigger focus on anonymity. In fact -- I think of it as the bronze to Litecoin's silver to Bitcoin's gold

If you want to help get Viacoin successful, I suggest downloading and running core. It takes ~4-6 hours to download the full blockchain, but then it's good to go.

I also always think as Via as the bronze to ltc and btc haha nice

[petestheman]

VIA to 20 USD .

[Jonesd]

VIA to 20 USD .

I would settle for that

[GekkoTrade]

VIA to 20 USD .

Not at all for quite a while, we could see a increase in value for a short time atm. Since all altcoins are suffering from the coming btc split.

Via signalled segwit, wich explains the slight pump atm.
Dont expect anything major till the market is growing aigan after the whole btcsplit happening.

All my altcoin investments are down, I could sold them and rebuy cheaper, but I was to late. Hence im holding and not even giving a damn thing about the altcoin bloodbath.
Altcoins will increase big time after this market downtime.

Have patience and enjoy the ride, go do something fun now, and come back in a month.
Via will conquer