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Author Topic: please delete  (Read 224 times)
moepaing
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August 21, 2018, 11:07:18 AM
 #21

It needs in a lot of time of course, in your attention and being smart and far-sighted to go over difficult situations and other problems like thes ones.
jayendo
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September 04, 2018, 06:34:10 PM
 #22

The design characteristics of Bitcoin makes it more suitable for use as a store of wealth rather than as a medium of exchange. To be more suitable as a medium of exchange, an altcoin must sacrifice some of these characteristics for ones more suitable for a medium of exchange.  

1. Easier/Faster Mining
2. No transaction fees
3. A Small Portable Blockchain

Easier/Faster Mining
The difficulty of solving a block is not what protects the blockchain from a 51% attack, the hash rate of the network does. The difficulty only effects the block rate, which limits coin production and minimizes race conditions that threaten to compromise consensus. But an excessive difficulty prohibits miners from working competitively, resulting in a concentration of cooperative mining power and the potential for shenanigans by pool operators. The mining difficulty should be kept as low as possible without jeopardizing consensus so as to permit and encourage miners to mine competitively using less expensive hardware.

No Transaction Fees
If the block reward stays proportional to the mining difficulty, there is no need for transaction fees.

A Small Portable Blockchain
In order to keep the blockchain within a size limit that keeps it portable, old blocks must be deleted at the trailing end as new blocks are added at the leading end. Blocks will then have a lifespan that depends on the block rate. This introduces the possibly of destroying coins. Users will need to spend or recycle their coins before they get too old or risk losing them. This is precisely why a medium of exchange is unsuitable as a store of wealth.

I'm fine with everything. And some improvements are likely to be only after a couple of years,but not now. I do not think that such messages are generally something will change
qazgroup
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September 04, 2018, 06:53:56 PM
 #23

I do not get your formula, if the coin does not charge transaction fee then how it will be able to pay the miners, your model seems to be more of like a ponzi scheme that results in the end of scheme when new investments stop, real and succesful models are already in the market like btc and eth and i think they are doing well, they just need to upgrade and be more efficient, transactions should be fast and cheap and miners should also get decent reward.

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Dancing_Lion
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September 06, 2018, 05:21:39 PM
 #24

This of course should be present but for now it makes no sense to think about it as the cryptocurrency is not so progressive and popular, unfortunately
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