[ANN][YAC] YACoin ongoing development

[ilostcoins]

Actually, what's the formula for calculating the block reward?

I tried looking at the code but don't understand what it's doing with variables like bnTarget.

[wetroof]

the block reward is a function of the difficulty. but I don't know what that is. probably same as PPcoin? I know at starting difficulty 0 or maybe its .00001 or something... the block reward = 100. at diff. 1 block reward = ~24 at diff. 8 block reward = ~18.

[Sahtor]

Reward = 25 / (Difficulty ^ 1/6)
Max Reward = 100

The comment section is wrong in yacoin. It's old comment from ppcoin/novacoin.

[wetroof]

right now difficulty is 1/2^2

at difficulty 1/2^6 block reward = 50.

the hashrate remaining constant in less than 1 year block reward will be 50. (N will increase 4 times.)

[TreasureSeeker]

So is there a theoretical coin cap for YAC?  I've seen it asked a few times but haven't seen an answer yet.

[alenevaa]

Please pick YACoin in this poll https://bitcointalk.org/index.php?topic=264016.0

[Sahtor]

2 billion coins has been said before. I think PPC estimated that they will create roughly 100M coins until it becomes too difficult. Yacoin is creating 13-15M coins per year. Unless the rate is too high for it's popularity in future I wouldn't worry about it.


In other news I created a Yacoin mining profitability Google docs spreadsheet. Thanks to aso118 from Yacointalk for the initial idea.

Other than the actual math the most speculative part of the calculations are the hashrate guesses.

[ilostcoins]

According to the formula in the last page, the POW mining will be largely determined by how popular it gets. If it gets near litecoin level popularity and difficulty jump a thousand times, coins generation should go to about 1/3 the current rate.

If cost of computing power goes down like Moore's Law and assuming the money put into hashing is constant, coin generation should go down to about 1/10 every 30 years. Together with becoming more popular, the total coins generated by POW shouldn't be too different from most cryptocurrencies we see now.

[aso118]

2 billion coins has been said before. I think PPC estimated that they will create roughly 100M coins until it becomes too difficult. Yacoin is creating 13-15M coins per year. Unless the rate is too high for it's popularity in future I wouldn't worry about it.


In other news I created a Yacoin mining profitability Google docs spreadsheet. Thanks to aso118 from Yacointalk for the initial idea.

Other than the actual math the most speculative part of the calculations are the hashrate guesses.

+1   

Great sheet.  Thank you for sharing it!

I think there are a lot of people that are interested in mining the coin, but just don't know enough about it yet.  Hopefully through communication, and explaining that this isn't just another pump-and-dump coin, and more tools (like this) they will better understand.

[thef]

2 billion coins has been said before. I think PPC estimated that they will create roughly 100M coins until it becomes too difficult. Yacoin is creating 13-15M coins per year. Unless the rate is too high for it's popularity in future I wouldn't worry about it.


In other news I created a Yacoin mining profitability Google docs spreadsheet. Thanks to aso118 from Yacointalk for the initial idea.

Other than the actual math the most speculative part of the calculations are the hashrate guesses.

+1   

Great sheet.  Thank you for sharing it!

I think there are a lot of people that are interested in mining the coin, but just don't know enough about it yet.  Hopefully through communication, and explaining that this isn't just another pump-and-dump coin, and more tools (like this) they will better understand.

Shhhh. Don't tell anyone about YAC. Let me mine some more.

[ivanlabrie]

hehe true xD

Price is too low...buy some instead of just dumping! :p

[igysa]

yeah, can`t understand those folks dumping and dumping such precious coin ..

but there is a reason why some others are buying and buying

[aso118]

Shhhh. Don't tell anyone about YAC. Let me mine some more.

Good plan! 

Price is too low...buy some instead of just dumping! :p

I agree.  I think a lot of people are looking at poor 'profitability calculator' and they are panicing when N-factor increases and end up dumping their coins.  Its only a matter of time until the coin is better understood and more buyers will appear.  I know I've been converting/buying as much as I can while the price is still low.



On a side note....  does anyone know anything about PoS?  My wallet has a TON of transactions that are between the range of 5 and 25 coins (automatic pool payouts).  When my wallet rarely mines a PoS block.  And when it does, it usually picks one of these smaller transactions; which results in 0.00 or 0.05 YAC 'interest.'  Do transaction with higher value and older timestamps have a higher priority (similar to bitcoins?)?  Would the best solution be to transfer all these small transactions (in a single transaction) to a new address?  After 30 days, would that increase the chance of a PoS?  And in the long run yield more 'interest?'

[igysa]

YAC rise people !

[Bakaboy]

YAC rise people !

There's some movement but I wouldn't say it's rising. On the other hand, the market gladly swallowed some relatively large dumps and the price barely budged. The market has also been much more active lately. Good signs.

[igysa]

I would say very good signs lately.. Buy orders were just HUGE ! I‚m also buying as much as I can..
Price will at least double in few days after next N change in August, so why not earn some extra bucks on coins you buy now ?

[cycloid]

I would say very good signs lately.. Buy orders were just HUGE ! I‚m also buying as much as I can..
Price will at least double in few days after next N change in August, so why not earn some extra bucks on coins you buy now ?

N has had 0 effect on the price in the past, what makes you think it will effect it now?

In my personal observation, every time N changed, price dropped lower as more and more miners gave up on it after seeing their hash rate drop.

I think the only thing that will positively impact the price of this coin is a new wave of crypto speculators, who will arrive at the end of Fall (as they always do).
By mid or end January they will get more familiar with all the major coins and will finally discover this baby (along with others but I think this one stands out a little more, which is what I am betting on) and start dumping money at LTC, PPC, NVC, etc. and YAC,  it will trinkle down the chain but due to volumes new speculators bring in, it will push coin capitalization to $1mil+ and will add an extra 0 to your $ us/ca/eur holding in this coin. They will come with hopes of being the next crypto millionaire, selling ther apartments and taking loans in order to seize the moment ... thats when I will execute my exit strategy and they will need to wait a year or take their loses.

http://www.investopedia.com/terms/s/sell-in-may-and-go-away.asp

[ilostcoins]

While I quite like it's easier to mine YAC now, I'm afraid the YAC is laying too low for it's long term good. After all, an advantage of coming out first is to accumulate a "supporter" base before others. However, last time I checked, YBC has more computing power on it (after roughly accounting for the difference in N). I hope the "first mover advantage" hasn't been thrown away.

Being visible on a profit comparison website would be good advertisement. I actually knew http://dustcoin.com/mining before I knew about this forum. As a late coming newbie, when I was deciding whether this coin thing can help fund a display card for me, I researched profit/coin generation on the internet. A profit comparison site was one of the first coin related website I visit repeatedly. It's from there I saw FTC, and searching feathercoin information took me here.

[cycloid]

While I quite like it's easier to mine YAC now, I'm afraid the YAC is laying too low for it's long term good. After all, an advantage of coming out first is to accumulate a "supporter" base before others. However, last time I checked, YBC has more computing power on it (after roughly accounting for the difference in N). I hope the "first mover advantage" hasn't been thrown away.

Being visible on a profit comparison website would be good advertisement. I actually knew http://dustcoin.com/mining before I knew about this forum. As a late coming newbie, when I was deciding whether this coin thing can help fund a display card for me, I researched profit/coin generation on the internet. A profit comparison site was one of the first coin related website I visit repeatedly. It's from there I saw FTC, and searching feathercoin information took me here.

Just in case you dont already know about it:

http://coinmarketcap.com/


This is one of the most powerful stat in crypto, not the hashing power.

Keep in mind that this is a PoW+PoS coin, meaning if other coins are hashing at higher speed, people who just hold this coin are adding new coins to supply through Proof of Stake. This process can keep coin supply expanding, while awaiting next speculative influx even with low network hashing speed.

[ilostcoins]

Just in case you dont already know about it:

http://coinmarketcap.com/


This is one of the most powerful stat in crypto, not the hashing power.
...

YBC isn't listed on that website, but I just checked that it's market cap should be around USD460k now, about 5 times that of YAC. (~USD1.3 price * 354,254 money supply)