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Author Topic: Merged mining for Ixcoin  (Read 4908 times)
steelhouse
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December 01, 2011, 07:37:01 AM
 #61

sounds like a get rich quick scheme to me...

Quite the contrary.  It is meant for the long term the 1000 year long term.  A get rich scheme is to pre-mine 1,000,000 then sell them off.  Once they are sold, start a new chain.
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December 01, 2011, 07:51:17 AM
 #62

sounds like a get rich quick scheme to me...

Quite the contrary.  It is meant for the long term the 1000 year long term.  A get rich scheme is to pre-mine 1,000,000 then sell them off.  Once they are sold, start a new chain.

I agree,

"Maybe a 100 reward for the first 10,000 blocks, 1000 reward for the next 45,000 blocks"

Let's do some math:

100 * 10,000 = 1,000,000
1,000 * 45,000 = 45,000,000

So whether you call it a "premine" or call it "initial mining" you're still simply infusing/distributing coins into the market and then dropping future inflation.  How is this not any different than what ixcoin and/or i0coin would be if future rewards were dropped to 1 coin/block right now?

I think the only difference is that you would have more in "your" wallet.

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