http://www.reddit.com/r/QuarkCoin/comments/2br13q/a_few_days_ago_i_commented_on_a_quark_clone_and/come comment or add comments here guys !
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For people very new to the idea I have to explain from the start - :
Quark is a fully distributed currency with an EQ reward this is like a small inflation <0.4%
the benefits of this design are many - the price starts as a "base price" of near zero (its original value) and is then determined by the free market.
huge benefits over "traditional" or original crypto economic models are realized with this system making it the leader in Crypto key benifits are :
Low to Zero fee structure (because the EQ reward replenishes the system)
No price or mining manipulation due to monopoly
No corporate Bank or "Government" takeover is possible because of both the full distribution and the EQ reward.
Price stability as outlined here -
http://kolinevans.wordpress.com/2014/07/14/an-interesting-thing-happened-on-the-way-to-proving-that-decentralized-free-market-distribution-can-find-price-stability/ Which is amazing because we are only just 6 months past the inital distribution and the market got quite exuberant in that time.
All these things make Quark the key stable base leader in crypto the fact that others don't see this (right now) is only to the benefit of the readers here today, if you believe in decentralized digital "e-cash" then Quark is essentially the best measure of the market.
however this design did present one perceived problem, and that was that the "inflation rate" the EQ reward was not enough incentive to secure the network from our obvious enemies (namely Banks and Bank agents) although this is probably and overblown perceived threat there is also confidence issues that related to this subject.
Personally my opinion (having a lot of experience in the field) was that this issue would in essence resolve itself so i didn't see it as the problem that our friends were hyping it as; because after all the aim of any psychological attack is to control the narrative.
But then i was alway taught to use the energy that an enemy has and find their objective to help your cause and to this degree i think we have a solution .
The merge mine option for me is important not only to decentralize and raise our hash rate; but in keeping with the elegant theme of using our enemy it also has key important sociological impact effects; which i will explain along the way.
( i will probably need the Blog to do this)
So i'd say this is an exciting prospect as the parameters of the merge mine are quite enticing.
check them out :
https://bitcointalk.org/index.php?topic=657528.0 no pre mine.
open and transparent.
5 min block times.
20 units halving in 4 years <
( this means everyone effectively has 4 years to mine this as primary reward then it halves to 10 ) this seems very fair to me as long as we can get it out publicly.
this to my calc gives us - 525600 minutes in a year - divided by 5 (5 min block times) = 105,120
so 105,120 blocks in one year.
105120 x 20 (block reward) = 2, 102, 400 per year -
2102400 x 4 = 8, 409600
so after 4 years there will be just 8.5 million of these units. and that is half of the supply that there will be.
upon looking at the code it is a clone of Quark so it falls down to a reward of 1 (maybe) after 20 years? with the grand total of 16million having been distributed after that very long time.
So as it was brought up in email i'd like to get feedback from the community about how they feel about this Crypto - the parameters look good and it seems exceptional as it seems like a fair start and has benign non hostile interest on the forum -
AS julie suggested in email we should re-brand it if the Dev is palatable to that he seems keen from the limited contact i've had with him.
for a merge mine to work I'd like to involve as much as the general public with the idea of profiting from mining a crypto, i think this can be achieved now.
add comments - i will disregard votes as Reddit is the master of spam voting - as always if you have any strong opinions voice them i'd LOVE feedback !
: D