I really want to see new wallet released. When 1.2.0v wallet will be ready? Any ETA? MN rewards increase would be good for price.
We are still in the final stages of testing the new version. It seems the original dev made a few mistakes with the code which we need to correct. It's imperative that we get this right, even if it takes longer than expected.
At this stage the fork block is still going to be block 375,000. The release of the new version won't change rewards initially at any rate, as the reward changes are set to take effect at block 375,000.
Read Page 3.
51% Attack when Reward is Halved...
https://cryptonote.org/whitepaper.pdfI was one of those who quit Mining BTC when reward halved...
i think Monero method motivates Miners at the beggining,
BTC Method demotivates miners at the beggining.
i keep repeating to my self "i won´t make that mistake twice." LOL. Jajajajaja
CRDS Method will see. LOL. Jajajaja
2.3 Irregular emissionBitcoin has a predetermined emission rate: each solved block produces a fixed amount of coins.
Approximately every four years this reward is halved. The original intention was to create a
limited smooth emission with exponential decay, but in fact we have a piecewise linear emission
function whose breakpoints may cause problems to the Bitcoin infrastructure.
When the breakpoint occurs, miners start to receive only half of the value of their previous
reward. The absolute difference between 12.5 and 6.25 BTC (projected for the year 2020) may
seem tolerable. However, when examining the 50 to 25 BTC drop that took place on November
28 2012, felt inappropriate for a significant number of members of the mining community. Figure
1 shows a dramatic decrease in the network’s hashrate in the end of November, exactly when the
halving took place. This event could have been the perfect moment for the malevolent individual
described in the proof-of-work function section to carry-out a double spending attack [36].
Fig. 1. Bitcoin hashrate chart
(source:
http://bitcoin.sipa.be)
[36] Meni Rosenfeld. Analysis of hashrate-based double-spending. 2012.
Equation:
6.1
https://monero.stackexchange.com/questions/4253/what-is-the-mining-reward-equation6 Further advantages
6.1 Smooth emission
The upper bound for the overall amount of CryptoNote digital coins is: MSupply = 264 − 1
atomic units. This is a natural restriction based only on implementation limits, not on intuition
such as “N coins ought to be enough for anybody”.
To ensure the smoothness of the emission process we use the following formula for block
rewards:
BaseReward = (MSupply − A) 18,
where A is amount of previously generated coins.
The only problems with Monero XMR are:
#1. the coin supply/reward is too low...
today is 5 XMR, vs. Dificulty too high.
Monero was Born 4 years ago.!
https://en.wikipedia.org/wiki/Monero_(cryptocurrency)
18 April 2014
#2. Miner Transfer Fee "Low setting" today is too high...
for small transactions...
0,01 XMR becomes 0,007414 XMR,
0,007414 becomes 0,004828 XMR
0,004828 Becomes Nothing, with 3 Transactions.
0,002245 XMR. "less than transfer Fee 0,002585"
if XMR had the same price of Btc, it would be $20usd. fee for a $80usd. transaction.
#3. Node XMR Wallet does not have Send with 0-Fee "if mining" like CRDS has and Bitcoin had, before Internal Wallet Mining was removed from the Bitcoin code after 0.10.
Those problems combined does not make sense, for a Small Business receiving XMR. "selling hot dogs & receiving XMR." like it happened with BTC in the early days.
To make decent Mining 1% of the Total Mining Power is required.
XMR Network has ~1000MH/s
10MH/s is too much for small miners... "Each GTX 1060 6GB makes 5OOH/s = 2O.OOO GTX 1060 6GB."
2KH/s is too slow, to make 0.3 XMR. "Nothing",
The things i like Algorithm has low power consumption at 100% Load.
XMR was nice, but has something wrong.
