[ANN][SMC] SmartCoin Official Thread - Hard Fork Halving Successful + Digishield

[shogun47]

When you set up the pos for this make the staking % more than 1% more like 4-5% as it will make it worth holding on to the coin in the wallet instead of dumping them. I've seen up to 7% but that seems too much.

[SmartPirate]

Vote people. Still 75, not moving.

[SmartPirate]

Damn this is moving slow guys - Not only the votes, but this whole thing.

[Jared35570]

http://173.214.221.211:9585/static/

SMC P2Pool up and running 1% Mining Fee

[shogun47]

http://173.214.221.211:9585/static/

SMC P2Pool up and running 1% Mining Fee

I got some scrypt asics solo mining this for giggles. Actually finds blocks too.  No need for a pool atm. when it goes x-11 it will need one as the hash and dif will go through the roof. We are in to june any update on the x-ll/pos flip over psionin?

[northranger79510]

What is happen right now with development?

[psionin]

Alright, I have some time to work on this now.

[psionin]

This is an interesting coin.

How many coins are out right now and how many total coins will there be?

I looked at the specs but they're a bit confusing.

Thanks!

54.3 million total are scheduled to be created through mining and there are 14,591,158 SMC right now.

54 million is pretty high and it's not needed.  Coins like dark coin have cut back the max cap significantly.  Dark cut it from 88 million to 22 million.

Maybe on the next code update reduce the max cap to something like 30 million.

That would allow for plenty of more years of mining and cutting the cap in half would add instant value to all current ad future buyers.

Cheers!

This is debateable. I think it's good to let it go on as scheduled because it allows more people to make a profit mining, and others to get SmartCoin at a cheap price, which expands and solidifies the network, which is a major part of a coin's success.

[shogun47]

This is an interesting coin.

How many coins are out right now and how many total coins will there be?

I looked at the specs but they're a bit confusing.

Thanks!

54.3 million total are scheduled to be created through mining and there are 14,591,158 SMC right now.

54 million is pretty high and it's not needed.  Coins like dark coin have cut back the max cap significantly.  Dark cut it from 88 million to 22 million.

Maybe on the next code update reduce the max cap to something like 30 million.

That would allow for plenty of more years of mining and cutting the cap in half would add instant value to all current ad future buyers.

Cheers!

This is debateable. I think it's good to let it go on as scheduled because it allows more people to make a profit mining, and others to get SmartCoin at a cheap price, which expands and solidifies the network, which is a major part of a coin's success.

Darkcoin and bitcoin are highly used coins with a highly distributed network and have 18 to 22mill coins. They are successful coins that are well distributed. Bitcoin is so valueable people mostly hold it for a wealth holder. It's not really a common persons currency. Litecoin is more a common persons currency. Its value is not so much that it would only be held but instead could actually be used in day to day transactions. Dogecoin has billions and billions of coin with no end in sight. Itis also highly distributed. Which is worth more? 300 sat for a dogecoin. Smart coin was worth that too not too long ago. Dogecoin is massively distributed and completely sucks as an investment. It fabulous for its community and humanitarian projects.I really like Dogecoin for what it is and what it isnt pretending to be. Their Dev comes out and says it. They don't want doge to be an investment vehicle. They want it to be a micro transaction currency. That means tips and smaller than a cent transactions like that. So what is wanted from SMC? To be another dogecoin? another BTC? For me its neither. If I want those I'll get those. (I own some of both) SMC should be an easy replacement or supplement of Litecoin. A useful well distributed currency to be both used and held as an investment.

MY suggestion is to run this in x-11 up to 17 or 18mill and then let it pow at 5-7% with a cap at 35-40 mill. at those amounts if it follows litecoin its coin value should be around 5$. Easily attained by everyone and anyone and actually worth a bit too. If the demand becomes so great that more coin are desired  someday the cap can be raised. I really do think Smartcoin could bump litecoin out of that niche.

[zuoshui]

http://173.214.221.211:9585/static/

SMC P2Pool up and running 1% Mining Fee

I am also a newbie, can I get some coins from dev?

[Vlad2Vlad]

Guys, there is no need to raise the hard cap nor the subsidy in the event of increased demand.

Look at Bitcoin, their demand is thousands of times greater than any alt-coin and do you see them raising the coin supply?

Inflation destroys wealth and a low coin float and a low subsidy attracts investors for the snort term and also the longer term and it increases a Coin's value because investors in general literally look for these attributes in an investment.  At 30-40 million, any coin has more than enough coins to satisfy any demand.

Anyone can buy the coin now for cheap and if the value goes up then mining it becomes more profitable so distribution will take that route which is better than excessive dilution.

So I think dropping the max cap and [if needed] the subsidy, will add instant value and also long term value due to lower inflation and much lower dilution.

Regards...

[psionin]

I am also a newbie, can I get some coins from dev?

That may be possible... what is your SMC address?

[psionin]

Guys, there is no need to raise the hard cap nor the subsidy in the event of increased demand.

Look at Bitcoin, their demand is thousands of times greater than any alt-coin and do you see them raising the coin supply?

Inflation destroys wealth and a low coin float and a low subsidy attracts investors for the snort term and also the longer term and it increases a Coin's value because investors in general literally look for these attributes in an investment.  At 30-40 million, any coin has more than enough coins to satisfy any demand.

Anyone can buy the coin now for cheap and if the value goes up then mining it becomes more profitable so distribution will take that route which is better than excessive dilution.

So I think dropping the max cap and [if needed] the subsidy, will add instant value and also long term value due to lower inflation and much lower dilution.

Regards...

I may be willing to look into setting the coin limit at 42 million (1/2 Litecoin and 2x Bitcoin).

One thing that I'm concerned about is that both Litecoin and Bitcoin block rewards halve every 4 years, so there is a long term symbiosis with the mining infrastructure, which I think is also very important for a crypto currency. It seems like some alt coins generate a large number of coins in a short period of time and don't leave much for later down the road, which could have negative effects on community interest, service integration, and network growth. This is something to seriously think about.

[silencesilence]

Vote for SmartCoin!

https://www.mintpal.com/voting#SMC

+1  done !!!

this is very important - let everyone vote as much as possible
Put a bright yellow note on your desktop or stick it on the monitor
We should not forget - VOTE PLEASE  

[Invisible Hands]

Vote for SmartCoin!

https://www.mintpal.com/voting#SMC

+1  done !!!

this is very important - let everyone vote as much as possible
Put a bright yellow note on your desktop or stick it on the monitor
We should not forget - VOTE PLEASE  

Vote, vote, vote!

[Invisible Hands]

Guys, there is no need to raise the hard cap nor the subsidy in the event of increased demand.

Look at Bitcoin, their demand is thousands of times greater than any alt-coin and do you see them raising the coin supply?

Inflation destroys wealth and a low coin float and a low subsidy attracts investors for the snort term and also the longer term and it increases a Coin's value because investors in general literally look for these attributes in an investment.  At 30-40 million, any coin has more than enough coins to satisfy any demand.

Anyone can buy the coin now for cheap and if the value goes up then mining it becomes more profitable so distribution will take that route which is better than excessive dilution.

So I think dropping the max cap and [if needed] the subsidy, will add instant value and also long term value due to lower inflation and much lower dilution.

Regards...

I may be willing to look into setting the coin limit at 42 million (1/2 Litecoin and 2x Bitcoin).

One thing that I'm concerned about is that both Litecoin and Bitcoin block rewards halve every 4 years, so there is a long term symbiosis with the mining infrastructure, which I think is also very important for a crypto currency. It seems like some alt coins generate a large number of coins in a short period of time and don't leave much for later down the road, which could have negative effects on community interest, service integration, and network growth. This is something to seriously think about.

It is good to see some healthy discussion about the future of SmartCoin.  Things are looking up!

[paulus51]

hello all,


we have updated our website with the new Smartcoin Wallet Address :  SmartCoin Adress    : SaV6pYxfX12iV4vK8dmFLpBrPMhzf3Bdt7   SXmrRLp7KM5iuTf1jwxLy8H3ptqs6B2t6P  Safe To Use !

The first wallet address is the old one ( well known by many supports/donators )  we have lost also our Smartcoin wallet, for more info please visit our website, first link in my signature,

with your help we will succeed and get back on track again, Smartcoin is again accepted on our website !


more coins will be restored with new wallet addresses , see also our news page for more info, or send me a pm/ email

we hope that the Smartcoin community will continuing there highly appreciated support for our project ,


thanks in advanced and understanding

[shogun47]

Guys, there is no need to raise the hard cap nor the subsidy in the event of increased demand.

Look at Bitcoin, their demand is thousands of times greater than any alt-coin and do you see them raising the coin supply?

Inflation destroys wealth and a low coin float and a low subsidy attracts investors for the snort term and also the longer term and it increases a Coin's value because investors in general literally look for these attributes in an investment.  At 30-40 million, any coin has more than enough coins to satisfy any demand.

Anyone can buy the coin now for cheap and if the value goes up then mining it becomes more profitable so distribution will take that route which is better than excessive dilution.

So I think dropping the max cap and [if needed] the subsidy, will add instant value and also long term value due to lower inflation and much lower dilution.

Regards...

I may be willing to look into setting the coin limit at 42 million (1/2 Litecoin and 2x Bitcoin).

One thing that I'm concerned about is that both Litecoin and Bitcoin block rewards halve every 4 years, so there is a long term symbiosis with the mining infrastructure, which I think is also very important for a crypto currency. It seems like some alt coins generate a large number of coins in a short period of time and don't leave much for later down the road, which could have negative effects on community interest, service integration, and network growth. This is something to seriously think about.

The point of pos after the x-11 ming stage is to continue the production of coins at a much slower continued pace. it generates new coins in each wallet based on how many coins each person has. the 1-10% is the rate of growth or coin creation. so at 1% 100 coins will make 1 coin per month or whatever time is set. the stakes come sooner but in smaller amounts. like .00005 daily (min time set to max time ie 2hr min to 12hr max per stake). so at the end of x-ll mining you have say 17mill coins generated and a cap of 42mill. The wallets will keep staking until 42 mil coins are made. depending on the percent this will take many years but it will keep adding coins. Thats actually idea.
 at 5-7% this could take arend 20-40 years

[Vlad2Vlad]

~4 million new SmartCoins being minted, mined and dumped on the market every month, right now.

Nobody sees the obvious problem inherent with massive inflation?  This is the exact same issue with fiat from which people are running to crupto coins from.

The max cap and subsidy should to be cut if SmartCoin has any chance of a sustained, long-term price increase.

It's a fair Strategy which raises the net value of the large holder the same as the poor holder, proportionally and equally.

Stop the massive inflation and dilution and the price will rise on its own merits.


Regards.

[CryptoMan2014]

~4 million new SmartCoins being minted, mined and dumped on the market every month, right now.

Nobody sees the obvious problem inherent with massive inflation?  This is the exact same issue with fiat from which people are running to crupto coins from.

The max cap and subsidy should to be cut if SmartCoin has any chance of a sustained, long-term price increase.

It's a fair Strategy which raises the net value of the large holder the same as the poor holder, proportionally and equally.

Stop the massive inflation and dilution and the price will rise on its own merits.


Regards.

Spaincoin dev announced to destroy a big part of their Coin supply and look what is happening to the price at this moment.
Vlad2Vlad is very right.
Maybe wait if it gets in the top 5 of Mintpal voting