[Ultracoin] [Est. Feb 2014] ~ ASIC Resistant & Ultrafast 6 Second Transactions!

[sambiohazard]

Missing Block Explorer. Where it is?  

Perhaps dev team think block Explorer is "who cares" but it is important part of coin functionality. What you think if someone shut off BTC block Explorer, what happend after then next weeks... 

Ultrablocparty pool confirmation email still not work. If it can not work shut off this feature asap.

I think CryptoID's block explorer services are great. If you want them to host a UTC explorer its $10/month just ask them in their thread or on twitter. They put it up for 3 days for free. After that everyone can donate to address shown on the about tab of explorer to keep it running. If community can put $120 together in donations, it will be up for a year or little less as blockchain size determines the cost.

[1715459739]

1715459739

[1715459739]

1715459739

[1715459739]

1715459739

[rapture333]

Missing Block Explorer. Where it is?  

Perhaps dev team think block Explorer is "who cares" but it is important part of coin functionality. What you think if someone shut off BTC block Explorer, what happend after then next weeks...  

Ultrablocparty pool confirmation email still not work. If it can not work shut off this feature asap.

Hello Qxw, we did get the block explorer working again last week. Check my earlier post for the link. Ultrabex is supposed to be working but for some reason it's still not redirecting to http://ultrabex.tumblingblock.com/ like it should. I will look into this and try to get it resolved ASAP. Also, we are currently on the e-mail functionality of UBP, currently e-mails are being sent to the smaller providers such as hotmail but still continued to be blocked on Gmail and other larger providers. We are currently working on getting this fixed and I will be providing updates when we do.

Sincerely,

Steven "Rapture"
Management Director
Steven@Ultracoin.net
Ultracoin

[Qxw]

Missing Block Explorer. Where it is?  

Perhaps dev team think block Explorer is "who cares" but it is important part of coin functionality. What you think if someone shut off BTC block Explorer, what happend after then next weeks...  

Ultrablocparty pool confirmation email still not work. If it can not work shut off this feature asap.

Hello Qxw, we did get the block explorer working again last week. Check my earlier post for the link. Ultrabex is supposed to be working but for some reason it's still not redirecting to http://ultrabex.tumblingblock.com/ like it should. I will look into this and try to get it resolved ASAP. Also, we are currently on the e-mail functionality of UBP, currently e-mails are being sent to the smaller providers such as hotmail but still continued to be blocked on Gmail and other larger providers. We are currently working on getting this fixed and I will be providing updates when we do.

Sincerely,

Steven "Rapture"
Management Director
Steven@Ultracoin.net
Ultracoin

Thank your answer!  Good!

[dan_and_shan]

Its off topic, but i thought you guys might like it

[ultradar]

I wanted to ask Paul if he does exist anymore about his opinion for ultracoin being lower than vertcoin on the market cap ???what just you said ?? Vertcoin has 7mil marketcap???oh im sorry!!!

[hardcoreprime]

Haven't followed this thread in a while. Anything happening with the coin?

[mivrus]

not normal situation on ultrablockparty

Jabberwock - less 1 kH/s
derBruchpilotPro - 2 kH/s

my opinion - UTC not noteworthily of miners, still this situation takes place  

https://i.imgur.com/S28HcM5.png

иными cлoвaми - идитe вы нaxyй co cвoими yльтpaми, c тaкими тo eбaнными paзpaбaми 

[rapture333]

Website  |  Twitter  |  Facebook  |  Reddit  |  Official Ultracoin Forum  |  Ultracoin Business Directory  |  Ultracoin Paper Wallet Generator

Hello ladies & gentlemen,

Firstly, I wanted to apologize about the disruptions in the pool's, we rely on the pools to keep Ultracoin afloat and any problems we take very seriously. Most issue's have been resolved and e-mails should be reaching users that use major e-mail services like Google. Kracko is currently working on switching the pool's over to an anonymous system where users are paid out automatically and do not need to sign up for an account to use the pool. This will create a much more stable platform as well as provide a layer of anonymity for our users.

As mentioned previously, Ultracoin will be undergoing a major update with changes to the monetary policy, N-Factor, and some technical changes. We are very excited to be providing these changes as I believe it will dramatically increase the longevity and promote the monetary propserity of Ultracoin as a viable alternative currency.

This change should benefit both miners and investors, as we roll back to N-Factor 15 and decrease the rate of inflation, your investment will be able to sustain it's purchasing power. At our current rate, roughly 1/3rd of all Ultracoin have been minted/mined within the first year and two months of the coins life span. Although the inflation rate has been dropped several times by decreasing block reward, the rate is still too high, I believe that many other coins are starting to feel the brunt of their inflation as time goes on. Many cryptocurrencies are in a constant state of hyperinflation, with many many coins being minted over the course of several months, the money supply can grow by 10% or 20% within only a few months. This causes a drastic increase of coins in circulation, thus, in the same way that oil is diluted by water, the purchasing power of the currency begins to be diluted by the sheer supply. By lowering Ultracoin's block reward, this will take the gas pedal off of the coin expansion rate and cause a much slower increase in the inflation rate.

You may be wondering how this effects you. Let's say you are mining Ultracoin now at a rate of 30 coins per block. This stays constant for everyone, and everyone enjoys a nice flow of coins (depending on your hash of course). However, unless you plan on buying something with your coins right away, you will most likely be saving them in your wallet. As time goes on more and more coins will continue to be mined, that means an increase in the inflation rate, which means the coins in your wallet will continue to be diluted by the ever growing supply. From a savings perspective, lowering the block reward is beneficial, as in time everyone will suffer the cost of inflation.

At Ultracoin's current rate of expansion, we are minting roughly ~15,778,470 UTC per year. This means we should see the complete minting of all Ultracoin by around July of 2022, if you count in the current block halving at 4,000,000 and 6,000,000 blocks.

At our current rate, the expansion of coinbase should look something like this:

4/21/2015 = 29,326,754 UTC
1/1/2017 = 54,572,294 UTC
10/1/2020 = 84,572,294 UTC
7/1/2022 = 100,000,000 UTC

All UTC should be mined by July 2022 on our current schedule. The amount of inflation would be tremendous. The point of cryptocurrencies is to escape the inflation and manipulation of government or central bank backed currencies. To this philosophical and economic end, I believe the best course of action is to cut the block reward by 1/3rd to 10 UTC per block, this will decrease our inflation rate quite a bit while still rewarding miners. You may compare a block reward of 10 to Bitcoins block reward of 25 and believe that to be a small payout, however, keep in mind that Ultracoin's block target is once per minute, while Bitcoin has a target of one block per every 10 minutes. Every 10 minutes will lead to 100 new Ultracoins created, versus the current 300, with a goal of 100 million total. On the other hand, Bitcoin's 25 coins per 10 minutes with a goal of 21 million total. The lowered block reward will mean we should reach  This rate is sensible and will allow the market to choose the correct value of Ultracoin without so much inflation.

With a block reward of 10 UTC per block, we will see the creation of 28,627,990 UTC by 9/1/2020, which will bring our total coinbase up to 58,185,544 UTC. That would equate to more than half of all UTC being minted by the end of 2020. This steady rate of expansion will allow UTC to be tested by the markets without huge spikes in wealth creation. For miners that are also long-term holders, this means that your savings won't decrease as you mine. Using BTC as context, it has been nearly 6 and a half years since the inception of Bitcoin, with 2/3rds of its currency created and a block halving to occur sometime in 2017, Bitcoin has seen high success, not without its peaks and falls, but it has remained strong. I believe a similar future is necessary for Ultracoin, with the currency reaching approximately 58MM UTC by the end of 2020, UTC will be nearly celebratings its 7th birthday.

At the 4,000,000 block mark, another block halving will be scheduled to occur (5 UTC per block), at this rate, another 10,000,000 UTC will come into existance before the next halving. This will make the total coin supply 68,185,554 UTC by approximately May 2024. At this point, another block halving will take place at the 6,000,000 block mark to 2.5 UTC per block. Within another by block 8,000,000, another 5,000,000 UTC will be created by approximately January 2028, bringing the total amount of Ultracoin up to about 73,185,544. By block 10,000,000 another 2.5MM UTC will be created with a reward of, 1.5 million new Ultracoin by approximately September 2032. At this point, I believe cryptocurrencies have a chance of being much more highly accepted and adopted, with more than 99% of all Bitcoin being mined at this point the price of Bitcoin would have to be astronomical at this point for it to be worth mining (which I believe it will be). I believe Satoshi Nakamoto made a mistake by allowing so much Bitcoin to be minted at one time, 93% by 2020, as this is too much wealth being consolidated into the hands of so few. At block 20,000,000 I believe a block reward to 1 UTC per block will suffice, allowing new miners to still adopt the currency as cryptocurrencies become a strong if not preferable alternative to government backed fiat. By the end of 2051, Ultracoin will feature approximately 87,188,544 UTC and be at block 20MM. Unlike Keynesian economic theory which states that inflationary money must be used by government or bankers to spur economic growth, the monetary policy for Ultracoin will reflect the need for distribution of the currency to a population that will be between 9 and 12 billion by 2100, and that doesn't count the generations of people in between. By 2110 I believe much of the world will have embraced crypto, and as popular cryptocurrencies of today begin to shut their doors to minting, Ultracoin shall do the same, at this point the inflation will be tapered off quickly and only serious mining operations shall remain that are fit to secure the network, for the sake of the network. By keeping the block reward at .01 UTC per block, this will ensure the network stays secure and hopefully will fund the mining operations without relying to much on transaction fee's, this should keep pools and private operations open for hundreds of years despite 98% of the currency having already been minted.

Here's a roadmap of Ultracoin's monetary policy:

4/21/2015 = ~29,326,754 UTC @ 30 UTC per block - 1,137,000
[Change to 10 UTC per block pending new update]
9/1/2020 = ~58,185,544 UTC @ 10 UTC per block - 4,000,000
5/1/2024 = ~68,185,544 UTC @ 5 UTC per block - 6,000,000
1/1/2028 = ~73,188,544 UTC @ 2.5 UTC per block - 8,000,000
9/1/2051 = ~87,188,544 UTC @ 1.25 UTC per block - 20,000,000
3/1/2063 = ~92,188,544 UTC @ 1 UTC per block - 25,000,000
9/1/2072 = ~94,688,544 UTC @ .5 UTC per block - 30,000,000
10/1/2091 = ~97,188,544 UTC @ .25 UTC per block - 40,000,000
11/1/2110 = ~98,418,544 UTC @ .125 UTC per block - 50,000,000
11/1/2506 = ~100,000,000 UTC @ .01 UTC per block - 208,145,600

Keeping Ultracoin's distribution constant over the century will ensure that Ultracoin see's the widest possible distribution as technology advances and cryptocurrencies become more mainstream. As you already know, most people do not know about cryptocurrencies, and even amongst the ones that do, few own Bitcoin relative to the worlds population. Of course, in time, the popularity of cryptocurrencies will increase and with it so will its adoption and use. That is why it is important to maintain a steady distribution of coins, as well as to throttle back the inflation which has already affected so many cryptocurrencies. The Proof of Stake mechanism will also be modified, 5.6% interest is currently too high, most banks offer nowhere near this percentage and if they do it is often in the form of CD's and not savings accounts. Not only does this artificially high interest rate create inflation, it is too high of a reward compared to market alternatives. That is why the newly proposed interest rate will be lowered to 2%, still considered a high interest rate, but and also much more sustainable. Future scheduled decreases in the interest rate are 1.5% at block 4,000,000 and 1% at block 8,000,000 with no future rate decreases scheduled afterwards.

Here's to the future,

Steven "Rapture"
Management Director
Steven@Ultracoin.net
Ultracoin

[NineEleven]

Nice to see some UTC news


do you have a release date for the new update?

Best regards

[funsponge]

I fully support the change. Too many coins currently been mined

[rapture333]

Nice to see some UTC news


do you have a release date for the new update?

Best regards

We are still in testing, but I hope to release some new updates soon.

[Thirtybird]

Block reward reduction.  In practice, an effort to protect the already accumulated "wealth", and maybe get the price to go up so a sell-off can begin, and making it harder for newcomers to accumulate via mining.  Whether the coins "run out" in 7 Years, or 17 years probably isn't going to matter at all - the "trend" of Crypto (if it even still exists in its current form 7 years from now) will have changed, and the winds of UTC will have shifted several more times by then.  Before then, it will likely be necessary to go full POS anyway because very few people are going to run miners unless they don't mind paying more for the coin by over-spending on electricity relative to the value of the coin.

If you really want people to adopt in the future, double the block reward at those intervals in the future - nothing like the added excitement of getting more!

[Beave162]

This change should benefit both miners and investors, as we roll back to N-Factor 15 and decrease the rate of inflation, your investment will be able to sustain it's purchasing power.

You are using words like 'inflation' and 'purchasing power' as if UTC is a currency right now. It is not even close to being accepted as a currency. Bitcoin isn't even close. UTC is in an adoption/distribution phase.

Although the inflation rate has been dropped several times by decreasing block reward, the rate is still too high, I believe that many other coins are starting to feel the brunt of their inflation as time goes on.

"too high" based on what? The block reward was decreased already, and it definitely didn't seem to help. What makes you think you found the magical sweet spot?

Many cryptocurrencies are in a constant state of hyperinflation, with many many coins being minted over the course of several months, the money supply can grow by 10% or 20% within only a few months. This causes a drastic increase of coins in circulation, thus, in the same way that oil is diluted by water, the purchasing power of the currency begins to be diluted by the sheer supply. By lowering Ultracoin's block reward, this will take the gas pedal off of the coin expansion rate and cause a much slower increase in the inflation rate.

What cryptocurrencies? How about the ones that are already at little or no inflation?

You may be wondering how this effects you. Let's say you are mining Ultracoin now at a rate of 30 coins per block. This stays constant for everyone, and everyone enjoys a nice flow of coins (depending on your hash of course). However, unless you plan on buying something with your coins right away, you will most likely be saving them in your wallet. As time goes on more and more coins will continue to be mined, that means an increase in the inflation rate, which means the coins in your wallet will continue to be diluted by the ever growing supply. From a savings perspective, lowering the block reward is beneficial, as in time everyone will suffer the cost of inflation.

Oil diluted by water? What are you talking about? Oil and water are immiscible...
You are confusing inflation with price. You can have an increase in the money supply and not have it 'dilute' money that is out there. The US mint does this with commemorative quarters. Google VELOCITY of money.

To this philosophical and economic end, I believe the best course of action is to cut the block reward by 1/3rd to 10 UTC per block, this will decrease our inflation rate quite a bit while still rewarding miners. You may compare a block reward of 10 to Bitcoins block reward of 25 and believe that to be a small payout, however, keep in mind that Ultracoin's block target is once per minute, while Bitcoin has a target of one block per every 10 minutes. Every 10 minutes will lead to 100 new Ultracoins created, versus the current 300, with a goal of 100 million total. On the other hand, Bitcoin's 25 coins per 10 minutes with a goal of 21 million total. The lowered block reward will mean we should reach  This rate is sensible and will allow the market to choose the correct value of Ultracoin without so much inflation.

You are really confusing the concept of inflation. Bitcoin has a long term inflation rate of 0%! Under your way of thinking, if I bought $1000 worth of Bitcoin now, it should be worth $680 in the future because 32% of all bitcoins have yet to be created, and as they are created, they will steal that value from the bitcoins I already have. You actually think that way don't you...

At this point, I believe cryptocurrencies have a chance of being much more highly accepted and adopted, with more than 99% of all Bitcoin being mined at this point the price of Bitcoin would have to be astronomical at this point for it to be worth mining (which I believe it will be).

I guess you also don't realize that transaction fees go to the miners of Bitcoin? Theoretically, if it was widely adopted, the transaction fees will be very significant and will dwarf the block reward (assuming little off-blockchain transactions). This was discussed in the Bitcoin whitepaper. https://bitcoin.org/bitcoin.pdf

I believe Satoshi Nakamoto made a mistake by allowing so much Bitcoin to be minted at one time, 93% by 2020, as this is too much wealth being consolidated into the hands of so few. At block 20,000,000 I believe a block reward to 1 UTC per block will suffice, allowing new miners to still adopt the currency as cryptocurrencies become a strong if not preferable alternative to government backed fiat. By the end of 2051, Ultracoin will feature approximately 87,188,544 UTC and be at block 20MM. Unlike Keynesian economic theory which states that inflationary money must be used by government or bankers to spur economic growth, the monetary policy for Ultracoin will reflect the need for distribution of the currency to a population that will be between 9 and 12 billion by 2100, and that doesn't count the generations of people in between. By 2110 I believe much of the world will have embraced crypto, and as popular cryptocurrencies of today begin to shut their doors to minting, Ultracoin shall do the same, at this point the inflation will be tapered off quickly and only serious mining operations shall remain that are fit to secure the network, for the sake of the network. By keeping the block reward at .01 UTC per block, this will ensure the network stays secure and hopefully will fund the mining operations without relying to much on transaction fee's, this should keep pools and private operations open for hundreds of years despite 98% of the currency having already been minted.

It should concern anyone that someone has the power to apparently change the entire distribution structure and algorithm of a coin based on a lot of "I believes" and seemingly completely arbitrary numbers. I am willing to bet that person doesn't have a master's degree, and I am wondering if that person has a college degree whatsoever--no offence really. You seem like a student who just read his first book on economic theory. It's good, but in my opinion, you still have some learning to do before coming up with grand assumptions on a coin you want to be the future of money. Even then, you should be humble enough to admit it is a theory, and you don't know for sure. You should not be forking a coin based on theory.

Keeping Ultracoin's distribution constant over the century will ensure that Ultracoin see's the widest possible distribution as technology advances and cryptocurrencies become more mainstream. As you already know, most people do not know about cryptocurrencies, and even amongst the ones that do, few own Bitcoin relative to the worlds population. Of course, in time, the popularity of cryptocurrencies will increase and with it so will its adoption and use. That is why it is important to maintain a steady distribution of coins, as well as to throttle back the inflation which has already affected so many cryptocurrencies. The Proof of Stake mechanism will also be modified, 5.6% interest is currently too high, most banks offer nowhere near this percentage and if they do it is often in the form of CD's and not savings accounts. Not only does this artificially high interest rate create inflation, it is too high of a reward compared to market alternatives. That is why the newly proposed interest rate will be lowered to 2%, still considered a high interest rate, but and also much more sustainable. Future scheduled decreases in the interest rate are 1.5% at block 4,000,000 and 1% at block 8,000,000 with no future rate decreases scheduled afterwards.

Is UTC not like YACoin in that transaction fees are destroyed? YACoin has about 5% rewards monthly with PoS, but that is the maximum average. For instance, something like 25% of YACs in existence are in cold storage and not collecting any PoS at all. Thus, with transaction fees destroyed, long-term inflation can actually go NEGATIVE. This concept is discussed in the PeerCoin whitepaper. http://peercoin.net/whitepaper

The algorithm change is at least somewhat interesting. The overall problem is that you keep forking this coin, and this time it is based on theory at best. It would be different if you ran your theory by some PhDs, or some of the pioneers of other successful (relatively) coins. I don't think you have.

Disclaimer is that I have no real dog in the fight. I guess that makes me a troll? I don't know if the NFactor 15 will workout or not. Seems to be a variety of hardware out that performs well in terms of 'mining' at that stage, but I couldn't even tell you if that is good or bad. I have my theories I will keep to myself for now. Forking a coin based on your theories is strange to say the least

[Beave162]

Block reward reduction.  In practice, an effort to protect the already accumulated "wealth", and maybe get the price to go up so a sell-off can begin, and making it harder for newcomers to accumulate via mining.  Whether the coins "run out" in 7 Years, or 17 years probably isn't going to matter at all - the "trend" of Crypto (if it even still exists in its current form 7 years from now) will have changed, and the winds of UTC will have shifted several more times by then.  Before then, it will likely be necessary to go full POS anyway because very few people are going to run miners unless they don't mind paying more for the coin by over-spending on electricity relative to the value of the coin.

If you really want people to adopt in the future, double the block reward at those intervals in the future - nothing like the added excitement of getting more!

There you go. That is ThirtyBird's economic theory on monetary policy.

With YAC, no one can truly predict what will happen.

Incrementing N will lead to immediate hashing speed decrease. Difficulty will reflect these speed changes (i.e. difficulty will decrease after N++) with lags. As soon as block reward depends on difficulty the reward will increase also and more miners will be motivated to join after N++.  It's not easy to predict now but we can be sure that some waves will happen on each N++ event.

There is excitement at least, which draws me to it, and I hope others as well. BTW the price has more than tripled over the last month or so and that is with no talks of changing the distribution model or algorithm whatsoever.

I think as an investor, you just want to have some predictability in money supply and hashing algorithm. I would be afraid to invest in UTC simply because I think it will keep being forked when rapture333 doesn't get the results rapture333 wants in a short amount of time. If it goes down to $10,000 total marketcap in a few months, I'm thinking you will try full PoS or try a more dramatic decrease in the block reward... right?

[NineEleven]

As a miner and invester i must say that i'm not happy whith this change

The reward is fine , the price is fair and i dont like coins that change de rules in the midle of the game

There other thing this coin need
- a modern website that ate least work
- block explorer that works
- and a coin that is stable on the algo, hasrate and reward

The sucess of the coin depend more on having more people aboard them de price on the short time

Make no mistake, forking the coin will make me dump a lot of coins begire the. fork and there are for sure more people like me

Best regards

[Fuzzbawls]

Still not getting emails from ultrablockparty

[usukan]

Steven - thanks for the update.

I'm still here watching. 

All seems reasonable and sensible.  I fully support.

Sell your VTC and buy up UTC  - Hello Volyova.

Here's to the future.

Cheers usukan



Yes - heres to the future.

Website  |  Twitter  |  Facebook  |  Reddit  |  Official Ultracoin Forum  |  Ultracoin Business Directory  |  Ultracoin Paper Wallet Generator

Hello ladies & gentlemen,

Firstly, I wanted to apologize about the disruptions in the pool's, we rely on the pools to keep Ultracoin afloat and any problems we take very seriously. Most issue's have been resolved and e-mails should be reaching users that use major e-mail services like Google. Kracko is currently working on switching the pool's over to an anonymous system where users are paid out automatically and do not need to sign up for an account to use the pool. This will create a much more stable platform as well as provide a layer of anonymity for our users.

As mentioned previously, Ultracoin will be undergoing a major update with changes to the monetary policy, N-Factor, and some technical changes. We are very excited to be providing these changes as I believe it will dramatically increase the longevity and promote the monetary propserity of Ultracoin as a viable alternative currency.

This change should benefit both miners and investors, as we roll back to N-Factor 15 and decrease the rate of inflation, your investment will be able to sustain it's purchasing power. At our current rate, roughly 1/3rd of all Ultracoin have been minted/mined within the first year and two months of the coins life span. Although the inflation rate has been dropped several times by decreasing block reward, the rate is still too high, I believe that many other coins are starting to feel the brunt of their inflation as time goes on. Many cryptocurrencies are in a constant state of hyperinflation, with many many coins being minted over the course of several months, the money supply can grow by 10% or 20% within only a few months. This causes a drastic increase of coins in circulation, thus, in the same way that oil is diluted by water, the purchasing power of the currency begins to be diluted by the sheer supply. By lowering Ultracoin's block reward, this will take the gas pedal off of the coin expansion rate and cause a much slower increase in the inflation rate.

You may be wondering how this effects you. Let's say you are mining Ultracoin now at a rate of 30 coins per block. This stays constant for everyone, and everyone enjoys a nice flow of coins (depending on your hash of course). However, unless you plan on buying something with your coins right away, you will most likely be saving them in your wallet. As time goes on more and more coins will continue to be mined, that means an increase in the inflation rate, which means the coins in your wallet will continue to be diluted by the ever growing supply. From a savings perspective, lowering the block reward is beneficial, as in time everyone will suffer the cost of inflation.

At Ultracoin's current rate of expansion, we are minting roughly ~15,778,470 UTC per year. This means we should see the complete minting of all Ultracoin by around July of 2022, if you count in the current block halving at 4,000,000 and 6,000,000 blocks.

At our current rate, the expansion of coinbase should look something like this:

4/21/2015 = 29,326,754 UTC
1/1/2017 = 54,572,294 UTC
10/1/2020 = 84,572,294 UTC
7/1/2022 = 100,000,000 UTC

All UTC should be mined by July 2022 on our current schedule. The amount of inflation would be tremendous. The point of cryptocurrencies is to escape the inflation and manipulation of government or central bank backed currencies. To this philosophical and economic end, I believe the best course of action is to cut the block reward by 1/3rd to 10 UTC per block, this will decrease our inflation rate quite a bit while still rewarding miners. You may compare a block reward of 10 to Bitcoins block reward of 25 and believe that to be a small payout, however, keep in mind that Ultracoin's block target is once per minute, while Bitcoin has a target of one block per every 10 minutes. Every 10 minutes will lead to 100 new Ultracoins created, versus the current 300, with a goal of 100 million total. On the other hand, Bitcoin's 25 coins per 10 minutes with a goal of 21 million total. The lowered block reward will mean we should reach  This rate is sensible and will allow the market to choose the correct value of Ultracoin without so much inflation.

With a block reward of 10 UTC per block, we will see the creation of 28,627,990 UTC by 9/1/2020, which will bring our total coinbase up to 58,185,544 UTC. That would equate to more than half of all UTC being minted by the end of 2020. This steady rate of expansion will allow UTC to be tested by the markets without huge spikes in wealth creation. For miners that are also long-term holders, this means that your savings won't decrease as you mine. Using BTC as context, it has been nearly 6 and a half years since the inception of Bitcoin, with 2/3rds of its currency created and a block halving to occur sometime in 2017, Bitcoin has seen high success, not without its peaks and falls, but it has remained strong. I believe a similar future is necessary for Ultracoin, with the currency reaching approximately 58MM UTC by the end of 2020, UTC will be nearly celebratings its 7th birthday.

At the 4,000,000 block mark, another block halving will be scheduled to occur (5 UTC per block), at this rate, another 10,000,000 UTC will come into existance before the next halving. This will make the total coin supply 68,185,554 UTC by approximately May 2024. At this point, another block halving will take place at the 6,000,000 block mark to 2.5 UTC per block. Within another by block 8,000,000, another 5,000,000 UTC will be created by approximately January 2028, bringing the total amount of Ultracoin up to about 73,185,544. By block 10,000,000 another 2.5MM UTC will be created with a reward of, 1.5 million new Ultracoin by approximately September 2032. At this point, I believe cryptocurrencies have a chance of being much more highly accepted and adopted, with more than 99% of all Bitcoin being mined at this point the price of Bitcoin would have to be astronomical at this point for it to be worth mining (which I believe it will be). I believe Satoshi Nakamoto made a mistake by allowing so much Bitcoin to be minted at one time, 93% by 2020, as this is too much wealth being consolidated into the hands of so few. At block 20,000,000 I believe a block reward to 1 UTC per block will suffice, allowing new miners to still adopt the currency as cryptocurrencies become a strong if not preferable alternative to government backed fiat. By the end of 2051, Ultracoin will feature approximately 87,188,544 UTC and be at block 20MM. Unlike Keynesian economic theory which states that inflationary money must be used by government or bankers to spur economic growth, the monetary policy for Ultracoin will reflect the need for distribution of the currency to a population that will be between 9 and 12 billion by 2100, and that doesn't count the generations of people in between. By 2110 I believe much of the world will have embraced crypto, and as popular cryptocurrencies of today begin to shut their doors to minting, Ultracoin shall do the same, at this point the inflation will be tapered off quickly and only serious mining operations shall remain that are fit to secure the network, for the sake of the network. By keeping the block reward at .01 UTC per block, this will ensure the network stays secure and hopefully will fund the mining operations without relying to much on transaction fee's, this should keep pools and private operations open for hundreds of years despite 98% of the currency having already been minted.

Here's a roadmap of Ultracoin's monetary policy:

4/21/2015 = ~29,326,754 UTC @ 30 UTC per block - 1,137,000
[Change to 10 UTC per block pending new update]
9/1/2020 = ~58,185,544 UTC @ 10 UTC per block - 4,000,000
5/1/2024 = ~68,185,544 UTC @ 5 UTC per block - 6,000,000
1/1/2028 = ~73,188,544 UTC @ 2.5 UTC per block - 8,000,000
9/1/2051 = ~87,188,544 UTC @ 1.25 UTC per block - 20,000,000
3/1/2063 = ~92,188,544 UTC @ 1 UTC per block - 25,000,000
9/1/2072 = ~94,688,544 UTC @ .5 UTC per block - 30,000,000
10/1/2091 = ~97,188,544 UTC @ .25 UTC per block - 40,000,000
11/1/2110 = ~98,418,544 UTC @ .125 UTC per block - 50,000,000
11/1/2506 = ~100,000,000 UTC @ .01 UTC per block - 208,145,600

Keeping Ultracoin's distribution constant over the century will ensure that Ultracoin see's the widest possible distribution as technology advances and cryptocurrencies become more mainstream. As you already know, most people do not know about cryptocurrencies, and even amongst the ones that do, few own Bitcoin relative to the worlds population. Of course, in time, the popularity of cryptocurrencies will increase and with it so will its adoption and use. That is why it is important to maintain a steady distribution of coins, as well as to throttle back the inflation which has already affected so many cryptocurrencies. The Proof of Stake mechanism will also be modified, 5.6% interest is currently too high, most banks offer nowhere near this percentage and if they do it is often in the form of CD's and not savings accounts. Not only does this artificially high interest rate create inflation, it is too high of a reward compared to market alternatives. That is why the newly proposed interest rate will be lowered to 2%, still considered a high interest rate, but and also much more sustainable. Future scheduled decreases in the interest rate are 1.5% at block 4,000,000 and 1% at block 8,000,000 with no future rate decreases scheduled afterwards.

Here's to the future,

Steven "Rapture"
Management Director
Steven@Ultracoin.net
Ultracoin

[sambiohazard]

Beave162 & NineEleven said pretty much what i would say. Everyone is so obssesed with decreasing the supply & "inflation" which really distribution so that people can adopt the coin while supporting it via mining. No one really wants to increase demand & adoption with stability. It seems like short term thinking of increasing the price & making profit. You are talking about centuries & don't have the patience to wait for price increase via adoption & increase in demand. Just keep tinkering till price increases. Tell me where your "Eccles Building" is? This central planning & micro management is sad for crypto

Any changes other than to increase security of network, fixing bugs & adopting better technology should be discouraged.

[MightSellIt]

Decreasing the supply is a good thing imo. Maxcoin did that last year, and they are doing just fine.

Also I suggest developers to make a new website and working block explorer.

[nanoprobe]

It' not complicated. It's simple supply and demand. As long as the supply (mining/POS) outpaces the demand (adoption/spending) the price/value will continue to suffer and no amount of future planning will change that. JMHO.