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Author Topic: CREDITS: INFLATION PERIOD OVER, SECOND HARD FORK + POKER ROOM COMING SOON  (Read 91819 times)
dogem8
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March 06, 2014, 07:41:50 PM
 #901

Something needs to change.  All the Credits mined so far, 4,388,348, are worth 9.22 BTC based on the highest SCX buy order.  That's a market cap of $5,882.36.  Total.  You're going to lose miners because there's nothing to be made here, and if you lose miners now, reward doubling will be meaningless in the future, because no one will be paying attention to the coin.

If you don't make a change to reward the people mining right now, your coin will die.  Period.

This. I will continue mining for two more days and if the devs haven't decided on reducing the block reward increase, then I will stop.

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dnaanders
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March 06, 2014, 07:42:27 PM
 #902

   "Now, for the inner investor in us all. What happens after this inflation period? The block reward will lower by 6x(1130) the average(6800) for
    the next two years, that's a 6x or more increase in value. If you managed to properly reinvest your Credits into the latter periods when the block rewards would
    be especially high, you could be looking at a 13x return. Subsequently we will see a halving to around ¤560 and then finally ¤280. We're talking about a
    potential outcome of 52x, and that's if factors such as difficulty and services don't rise, but we've clearly done our best to ensure that. With that said,
    the previous figures are likely child's play compared to what the future holds. In summation, mining longer will not only bring you more wealth in
    Credits but it will increase your return margin as early mined Credits are more likely to become inflated over the 6 month period."

I think we're all forgetting the potential of day trading. Simply sell before the increase and buy back. We figured more people would catch on to this strategy. Mainly this system removes silly pump n dumpers and hoarders. So be smart people, trade it up.

"Simply sell before the increase and buy back."

A simple supply/demand curve supports that approach - block reward doubling increases supply ahead of demand and the price falls.  Unfortunately, crypto trading doesn't follow logic, because it's vulnerable to pumping and dumping and the "I need to get in on this" thinking that accompanies it.  More coins = more coins to utilize in pump and dump schemes, so when the block reward doubles, the value is more likely to go up than to go down.  By "selling before an increase and buying back," you're more likely to lose money than gain it.

The fact is, the large majority of miners are going to wait until a much higher or the highest block reward, assuming anyone still remembers the coin in 4-6 months.  In the meantime, current miners only have the hope that it will someday get big to continue mining it.  That hope will wear thin if a few block double dates pass and the price doesn't rise.  If nothing changes, I guarantee you that no one will be mining this coin in a month.  Six months in the crypto world is eons.

I don't see the logic in this, the number of coins is arbitrary. With a higher supply/income the value per Credit will decrease. Of course, there will always be risk in day trading but I don't see how it would deviate heavily from the expected outcome unless Credits gets pumped.
Dinthar
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March 06, 2014, 07:45:31 PM
 #903

  "Now, for the inner investor in us all. What happens after this inflation period? The block reward will lower by 6x(1130) the average(6800) for
    the next two years, that's a 6x or more increase in value. If you managed to properly reinvest your Credits into the latter periods when the block rewards would
    be especially high, you could be looking at a 13x return. Subsequently we will see a halving to around ¤560 and then finally ¤280. We're talking about a
    potential outcome of 52x, and that's if factors such as difficulty and services don't rise, but we've clearly done our best to ensure that. With that said,
    the previous figures are likely child's play compared to what the future holds. In summation, mining longer will not only bring you more wealth in
    Credits but it will increase your return margin as early mined Credits are more likely to become inflated over the 6 month period."

I think we're all forgetting the potential of day trading. Simply sell before the increase and buy back. We figured more people would catch on to this strategy. Mainly this system removes silly pump n dumpers and hoarders. So be smart people, trade it up.

"Simply sell before the increase and buy back."

A simple supply/demand curve supports that approach - block reward doubling increases supply ahead of demand and the price falls.  Unfortunately, crypto trading doesn't follow logic, because it's vulnerable to pumping and dumping and the "I need to get in on this" thinking that accompanies it.  More coins = more coins to utilize in pump and dump schemes, so when the block reward doubles, the value is more likely to go up than to go down.  By "selling before an increase and buying back," you're more likely to lose money than gain it.

The fact is, the large majority of miners are going to wait until a much higher or the highest block reward, assuming anyone still remembers the coin in 4-6 months.  In the meantime, current miners only have the hope that it will someday get big to continue mining it.  That hope will wear thin if a few block double dates pass and the price doesn't rise.  If nothing changes, I guarantee you that no one will be mining this coin in a month.  Six months in the crypto world is eons.

I don't see the logic in this, the number of coins is arbitrary. With a higher supply/income the value per Credit will decrease. Of course, there will always be risk in day trading but I don't see how it would deviate heavily from the expected outcome unless Credits gets pumped.

So what you're saying is that each reward doubling will drive the price down?  So why is anyone mining this until six months from now?  lol

From the Credit Marketing Mastermind: "Get in early!! With a higher supply/income the value per Credit will decrease!!  Each coin you mine today will lose value every two weeks!!"
dnaanders
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March 06, 2014, 07:50:13 PM
 #904

   "Now, for the inner investor in us all. What happens after this inflation period? The block reward will lower by 6x(1130) the average(6800) for
    the next two years, that's a 6x or more increase in value. If you managed to properly reinvest your Credits into the latter periods when the block rewards would
    be especially high, you could be looking at a 13x return. Subsequently we will see a halving to around ¤560 and then finally ¤280. We're talking about a
    potential outcome of 52x, and that's if factors such as difficulty and services don't rise, but we've clearly done our best to ensure that. With that said,
    the previous figures are likely child's play compared to what the future holds. In summation, mining longer will not only bring you more wealth in
    Credits but it will increase your return margin as early mined Credits are more likely to become inflated over the 6 month period."

I think we're all forgetting the potential of day trading. Simply sell before the increase and buy back. We figured more people would catch on to this strategy. Mainly this system removes silly pump n dumpers and hoarders. So be smart people, trade it up.

"Simply sell before the increase and buy back."

A simple supply/demand curve supports that approach - block reward doubling increases supply ahead of demand and the price falls.  Unfortunately, crypto trading doesn't follow logic, because it's vulnerable to pumping and dumping and the "I need to get in on this" thinking that accompanies it.  More coins = more coins to utilize in pump and dump schemes, so when the block reward doubles, the value is more likely to go up than to go down.  By "selling before an increase and buying back," you're more likely to lose money than gain it.

The fact is, the large majority of miners are going to wait until a much higher or the highest block reward, assuming anyone still remembers the coin in 4-6 months.  In the meantime, current miners only have the hope that it will someday get big to continue mining it.  That hope will wear thin if a few block double dates pass and the price doesn't rise.  If nothing changes, I guarantee you that no one will be mining this coin in a month.  Six months in the crypto world is eons.

I don't see the logic in this, the number of coins is arbitrary. With a higher supply/income the value per Credit will decrease. Of course, there will always be risk in day trading but I don't see how it would deviate heavily from the expected outcome unless Credits gets pumped.

So what you're saying is that each reward doubling will drive the price down?  So why is anyone mining this until six months from now?  lol

Because if you actually actively day trade you can maintain the value of early mined coins, if you just sit and hoard they will lose value.
Dinthar
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March 06, 2014, 07:52:54 PM
 #905

   "Now, for the inner investor in us all. What happens after this inflation period? The block reward will lower by 6x(1130) the average(6800) for
    the next two years, that's a 6x or more increase in value. If you managed to properly reinvest your Credits into the latter periods when the block rewards would
    be especially high, you could be looking at a 13x return. Subsequently we will see a halving to around ¤560 and then finally ¤280. We're talking about a
    potential outcome of 52x, and that's if factors such as difficulty and services don't rise, but we've clearly done our best to ensure that. With that said,
    the previous figures are likely child's play compared to what the future holds. In summation, mining longer will not only bring you more wealth in
    Credits but it will increase your return margin as early mined Credits are more likely to become inflated over the 6 month period."

I think we're all forgetting the potential of day trading. Simply sell before the increase and buy back. We figured more people would catch on to this strategy. Mainly this system removes silly pump n dumpers and hoarders. So be smart people, trade it up.

"Simply sell before the increase and buy back."

A simple supply/demand curve supports that approach - block reward doubling increases supply ahead of demand and the price falls.  Unfortunately, crypto trading doesn't follow logic, because it's vulnerable to pumping and dumping and the "I need to get in on this" thinking that accompanies it.  More coins = more coins to utilize in pump and dump schemes, so when the block reward doubles, the value is more likely to go up than to go down.  By "selling before an increase and buying back," you're more likely to lose money than gain it.

The fact is, the large majority of miners are going to wait until a much higher or the highest block reward, assuming anyone still remembers the coin in 4-6 months.  In the meantime, current miners only have the hope that it will someday get big to continue mining it.  That hope will wear thin if a few block double dates pass and the price doesn't rise.  If nothing changes, I guarantee you that no one will be mining this coin in a month.  Six months in the crypto world is eons.

I don't see the logic in this, the number of coins is arbitrary. With a higher supply/income the value per Credit will decrease. Of course, there will always be risk in day trading but I don't see how it would deviate heavily from the expected outcome unless Credits gets pumped.

So what you're saying is that each reward doubling will drive the price down?  So why is anyone mining this until six months from now?  lol

Because if you actually actively day trade you can maintain the value of early mined coins, if you just sit and hoard they will lose value.

The ability to trade (sell) is contingent on there being buyers.  Why would anyone buy if what they buy is going to lose value every two weeks?

lol
dnaanders
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March 06, 2014, 07:59:06 PM
 #906

   "Now, for the inner investor in us all. What happens after this inflation period? The block reward will lower by 6x(1130) the average(6800) for
    the next two years, that's a 6x or more increase in value. If you managed to properly reinvest your Credits into the latter periods when the block rewards would
    be especially high, you could be looking at a 13x return. Subsequently we will see a halving to around ¤560 and then finally ¤280. We're talking about a
    potential outcome of 52x, and that's if factors such as difficulty and services don't rise, but we've clearly done our best to ensure that. With that said,
    the previous figures are likely child's play compared to what the future holds. In summation, mining longer will not only bring you more wealth in
    Credits but it will increase your return margin as early mined Credits are more likely to become inflated over the 6 month period."

I think we're all forgetting the potential of day trading. Simply sell before the increase and buy back. We figured more people would catch on to this strategy. Mainly this system removes silly pump n dumpers and hoarders. So be smart people, trade it up.

"Simply sell before the increase and buy back."

A simple supply/demand curve supports that approach - block reward doubling increases supply ahead of demand and the price falls.  Unfortunately, crypto trading doesn't follow logic, because it's vulnerable to pumping and dumping and the "I need to get in on this" thinking that accompanies it.  More coins = more coins to utilize in pump and dump schemes, so when the block reward doubles, the value is more likely to go up than to go down.  By "selling before an increase and buying back," you're more likely to lose money than gain it.

The fact is, the large majority of miners are going to wait until a much higher or the highest block reward, assuming anyone still remembers the coin in 4-6 months.  In the meantime, current miners only have the hope that it will someday get big to continue mining it.  That hope will wear thin if a few block double dates pass and the price doesn't rise.  If nothing changes, I guarantee you that no one will be mining this coin in a month.  Six months in the crypto world is eons.

I don't see the logic in this, the number of coins is arbitrary. With a higher supply/income the value per Credit will decrease. Of course, there will always be risk in day trading but I don't see how it would deviate heavily from the expected outcome unless Credits gets pumped.

So what you're saying is that each reward doubling will drive the price down?  So why is anyone mining this until six months from now?  lol

Because if you actually actively day trade you can maintain the value of early mined coins, if you just sit and hoard they will lose value.

The ability to trade (sell) is contingent on there being buyers.  Why would anyone buy if what they buy is going to lose value every two weeks?

lol

Someone buying now could sell to someone trying to buy up before the price per Credit decrease so he can eventually sell to someone else. Never ending process, like all trading.
Dinthar
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March 06, 2014, 08:04:38 PM
 #907

  "Now, for the inner investor in us all. What happens after this inflation period? The block reward will lower by 6x(1130) the average(6800) for
    the next two years, that's a 6x or more increase in value. If you managed to properly reinvest your Credits into the latter periods when the block rewards would
    be especially high, you could be looking at a 13x return. Subsequently we will see a halving to around ¤560 and then finally ¤280. We're talking about a
    potential outcome of 52x, and that's if factors such as difficulty and services don't rise, but we've clearly done our best to ensure that. With that said,
    the previous figures are likely child's play compared to what the future holds. In summation, mining longer will not only bring you more wealth in
    Credits but it will increase your return margin as early mined Credits are more likely to become inflated over the 6 month period."

I think we're all forgetting the potential of day trading. Simply sell before the increase and buy back. We figured more people would catch on to this strategy. Mainly this system removes silly pump n dumpers and hoarders. So be smart people, trade it up.

"Simply sell before the increase and buy back."

A simple supply/demand curve supports that approach - block reward doubling increases supply ahead of demand and the price falls.  Unfortunately, crypto trading doesn't follow logic, because it's vulnerable to pumping and dumping and the "I need to get in on this" thinking that accompanies it.  More coins = more coins to utilize in pump and dump schemes, so when the block reward doubles, the value is more likely to go up than to go down.  By "selling before an increase and buying back," you're more likely to lose money than gain it.

The fact is, the large majority of miners are going to wait until a much higher or the highest block reward, assuming anyone still remembers the coin in 4-6 months.  In the meantime, current miners only have the hope that it will someday get big to continue mining it.  That hope will wear thin if a few block double dates pass and the price doesn't rise.  If nothing changes, I guarantee you that no one will be mining this coin in a month.  Six months in the crypto world is eons.

I don't see the logic in this, the number of coins is arbitrary. With a higher supply/income the value per Credit will decrease. Of course, there will always be risk in day trading but I don't see how it would deviate heavily from the expected outcome unless Credits gets pumped.

So what you're saying is that each reward doubling will drive the price down?  So why is anyone mining this until six months from now?  lol

Because if you actually actively day trade you can maintain the value of early mined coins, if you just sit and hoard they will lose value.

The ability to trade (sell) is contingent on there being buyers.  Why would anyone buy if what they buy is going to lose value every two weeks?

lol

Someone buying now could sell to someone trying to buy up before the price per Credit decrease so he can eventually sell to someone else. Never ending process, like all trading.

Haha, is that really your answer?  "You might get lucky and find a buyer who buys in just before what he buys loses half its value!"  Buyers aren't idiots.  Speculation is risky, but it's not dumb, and the scenario you're advocating here is contingent on irrationally dumb buyers.

Now that this block reward system has been outed as completely asinine, either fix it or your coin will be dead.  I'm done mining it at the end of the day if nothing changes.

I'm actually pretty embarrassed right now.  I should've given this some thought a few days ago.
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March 06, 2014, 08:07:55 PM
 #908

dnaanders your complete lack of understanding of the miners concerns is worrying. If all the coin has going for it is day trading why mine it when we can mine a profitable coin and sell that to buy into CR trading? I fell bad now because me and my housemate went halves in our rig and now I need to break it to him I wasted 2 days on a coin with an ignorant dev. I just hope I can empty my wallet before there isn't enough hashrate to move CR.

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March 06, 2014, 08:13:16 PM
 #909

Changes are currently being discussed between all of the devs, any suggestions/opinions are welcome.  Also, please keep in mind that this account is not run by just one person.
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March 06, 2014, 08:21:14 PM
 #910


dnaanders
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March 06, 2014, 08:23:11 PM
 #911

dnaanders your complete lack of understanding of the miners concerns is worrying. If all the coin has going for it is day trading why mine it when we can mine a profitable coin and sell that to buy into CR trading? I fell bad now because me and my housemate went halves in our rig and now I need to break it to him I wasted 2 days on a coin with an ignorant dev. I just hope I can empty my wallet before there isn't enough hashrate to move CR.

Listen, we are making changes as we speak.  Please disregard the dev that made that post, as well as a lot of the posts on the previous page.  
dogem8
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March 06, 2014, 08:32:09 PM
 #912

dnaanders your complete lack of understanding of the miners concerns is worrying. If all the coin has going for it is day trading why mine it when we can mine a profitable coin and sell that to buy into CR trading? I fell bad now because me and my housemate went halves in our rig and now I need to break it to him I wasted 2 days on a coin with an ignorant dev. I just hope I can empty my wallet before there isn't enough hashrate to move CR.

Listen, we are making changes as we speak.  Please disregard the dev that made that post, as well as a lot of the posts on the previous page.  

I still trust you guys. My suggestion is to increase the block reward every week for four weeks (up to 4k/block), then decrease. This will bring plenty of new miners to come on board while we establish the community and then engage in a phase that will increase the value of the already mined coins.

dnaanders
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March 06, 2014, 08:34:39 PM
 #913

dnaanders your complete lack of understanding of the miners concerns is worrying. If all the coin has going for it is day trading why mine it when we can mine a profitable coin and sell that to buy into CR trading? I fell bad now because me and my housemate went halves in our rig and now I need to break it to him I wasted 2 days on a coin with an ignorant dev. I just hope I can empty my wallet before there isn't enough hashrate to move CR.

Listen, we are making changes as we speak.  Please disregard the dev that made that post, as well as a lot of the posts on the previous page.  

I still trust you guys. My suggestion is to increase the block reward every week for four weeks (up to 4k/block), then decrease. This will bring plenty of new miners to come on board while we establish the community and then engage in a phase that will increase the value of the already mined coins.

That's right along the lines of what we were thinking, six months is much too long.  Perhaps a month long like you said, and increase it in smaller increments at a faster rate (every 3-4 days)?
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March 06, 2014, 08:43:49 PM
 #914

dnaanders your complete lack of understanding of the miners concerns is worrying. If all the coin has going for it is day trading why mine it when we can mine a profitable coin and sell that to buy into CR trading? I fell bad now because me and my housemate went halves in our rig and now I need to break it to him I wasted 2 days on a coin with an ignorant dev. I just hope I can empty my wallet before there isn't enough hashrate to move CR.

Listen, we are making changes as we speak.  Please disregard the dev that made that post, as well as a lot of the posts on the previous page.  

I still trust you guys. My suggestion is to increase the block reward every week for four weeks (up to 4k/block), then decrease. This will bring plenty of new miners to come on board while we establish the community and then engage in a phase that will increase the value of the already mined coins.

That's right along the lines of what we were thinking, six months is much too long.  Perhaps a month long like you said, and increase it in smaller increments at a faster rate (every 3-4 days)?

This is sounding much better, while still stopping a massive insta-mine advantage.

dnaanders
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March 06, 2014, 09:21:33 PM
 #915

dnaanders your complete lack of understanding of the miners concerns is worrying. If all the coin has going for it is day trading why mine it when we can mine a profitable coin and sell that to buy into CR trading? I fell bad now because me and my housemate went halves in our rig and now I need to break it to him I wasted 2 days on a coin with an ignorant dev. I just hope I can empty my wallet before there isn't enough hashrate to move CR.

Listen, we are making changes as we speak.  Please disregard the dev that made that post, as well as a lot of the posts on the previous page.  

I still trust you guys. My suggestion is to increase the block reward every week for four weeks (up to 4k/block), then decrease. This will bring plenty of new miners to come on board while we establish the community and then engage in a phase that will increase the value of the already mined coins.

That's right along the lines of what we were thinking, six months is much too long.  Perhaps a month long like you said, and increase it in smaller increments at a faster rate (every 3-4 days)?

This is sounding much better, while still stopping a massive insta-mine advantage.

Thanks, this may be exactly what we do depending on the overall feedback we get. 
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March 06, 2014, 09:23:00 PM
 #916

dnaanders your complete lack of understanding of the miners concerns is worrying. If all the coin has going for it is day trading why mine it when we can mine a profitable coin and sell that to buy into CR trading? I fell bad now because me and my housemate went halves in our rig and now I need to break it to him I wasted 2 days on a coin with an ignorant dev. I just hope I can empty my wallet before there isn't enough hashrate to move CR.

Listen, we are making changes as we speak.  Please disregard the dev that made that post, as well as a lot of the posts on the previous page.  

I still trust you guys. My suggestion is to increase the block reward every week for four weeks (up to 4k/block), then decrease. This will bring plenty of new miners to come on board while we establish the community and then engage in a phase that will increase the value of the already mined coins.

That's right along the lines of what we were thinking, six months is much too long.  Perhaps a month long like you said, and increase it in smaller increments at a faster rate (every 3-4 days)?

This is sounding much better, while still stopping a massive insta-mine advantage.

Thanks, this may be exactly what we do depending on the overall feedback we get. 

i'd like this very much. you should be keeping a steady net hashrate. some have enough and leave, others see increasing rewards and come on board. sounds good.
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March 06, 2014, 09:44:58 PM
 #917



Thanks, this may be exactly what we do depending on the overall feedback we get. 

Sounds great!

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March 06, 2014, 10:02:51 PM
 #918

dnaanders your complete lack of understanding of the miners concerns is worrying. If all the coin has going for it is day trading why mine it when we can mine a profitable coin and sell that to buy into CR trading? I fell bad now because me and my housemate went halves in our rig and now I need to break it to him I wasted 2 days on a coin with an ignorant dev. I just hope I can empty my wallet before there isn't enough hashrate to move CR.

Listen, we are making changes as we speak.  Please disregard the dev that made that post, as well as a lot of the posts on the previous page.  

I still trust you guys. My suggestion is to increase the block reward every week for four weeks (up to 4k/block), then decrease. This will bring plenty of new miners to come on board while we establish the community and then engage in a phase that will increase the value of the already mined coins.

That's right along the lines of what we were thinking, six months is much too long.  Perhaps a month long like you said, and increase it in smaller increments at a faster rate (every 3-4 days)?

I like this. Have you thought about how high the block rewards will go in the end? Maybe 13k is too high?
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March 06, 2014, 10:14:41 PM
 #919


Hi guys, I've set up a p2pool for Credits!!
Address: cr.p2phash.com

Blocks are coming! Here are some P2Pool benefits:
* No registration
* Immediate payouts after a block is found
* Slighty higher payouts including block fee
* No account hack possible

Fee: 1%
Location: Switzerland (EU)
dnaanders
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March 06, 2014, 10:44:37 PM
 #920

dnaanders your complete lack of understanding of the miners concerns is worrying. If all the coin has going for it is day trading why mine it when we can mine a profitable coin and sell that to buy into CR trading? I fell bad now because me and my housemate went halves in our rig and now I need to break it to him I wasted 2 days on a coin with an ignorant dev. I just hope I can empty my wallet before there isn't enough hashrate to move CR.

Listen, we are making changes as we speak.  Please disregard the dev that made that post, as well as a lot of the posts on the previous page.  

I still trust you guys. My suggestion is to increase the block reward every week for four weeks (up to 4k/block), then decrease. This will bring plenty of new miners to come on board while we establish the community and then engage in a phase that will increase the value of the already mined coins.

That's right along the lines of what we were thinking, six months is much too long.  Perhaps a month long like you said, and increase it in smaller increments at a faster rate (every 3-4 days)?

I like this. Have you thought about how high the block rewards will go in the end? Maybe 13k is too high?

Thanks!  Yeah, we're either going to raise the block rewards overall, or lower them (either way making them very close to each other, more consistent). 

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