at Block 333391 there is only 1,081,531.25 in coins left to be mined. That is where we are now.
Hmmm the Crypt announcement is wrong?
https://bitcointalk.org/index.php?topic=881008.msg9718978#msg9718978 It says 11 Million Coins but add up to 14.75 Million?
Distribution:
X11 Algorithm
Total Coins: 11,000,000
Block Rewards:
Block 1 to 2000: 2000 x 500 per block = 1,000,000
Block 2001 to 4000: 1999 x 250 per block = 499,750
Block 4001 to 12000: 7999 x 125 per block = 999,875
Block 12001 to 48000: 35,999 x 62.5 per block = 2,249,937.5
Longest period of PoW started on 6/27/14...
Block 48001 to 368000: 319,999 x 31.25 per block = 9,999,968.75
Total Coin Supply according to the Crypt Thread is 14,749,531.25
Even if I take all 368000 blocks and multiply them by the lowest block total 31.25 it equals 11,500,000.
From 48001 is the timeframe I am talking about and it was 159 days or 5 months 6 days from the start of block 48001. If you take 10,000,000 and subtract 1,081,531.25 you get 8,918,468.75 mined in 159 days. So divide 8,918,468.75 by 159 to get an average of guess what... 56090.998427672955974842767295597
So you have 56,000 coins per day being mined.
So tell me how you can only have 11 Million coins total when the last block payouts equal 10 Million alone?
So 50K is their averaged take away based on SuchPool.pw earnings in one day. You can say less was mined by the hash that was not listed on any pools but not by much. Everyone had left the pools. Yet the Diff spiked to 1400 and 1600. Making it very hard for other miners to compete.
Who was this hash? How much coin do you think they have? When you can actually look at the pools and see how little was paid vs how many blocks were found each day. It is that simple. I saw it day after day month after month. The Diff was higher earlier so the average may have been less but it was just as effective in discouraging miners since the coin was so cheap it would not support the costs of power! This is a tactic and now you want to revive the coin for this groups tactical advantage.
I saw the massive hash the pools were facing so you can argue about the amount of coin and who it really was, but this group was staking too and must own a considerable amount of coin. The hash eventually slowly trickled down to 2Ghash since there was no competition. No interest from miners based on market prices, and only someone who profited from the Dump would sustain that amount of hash for the means to their end game.
Prove me wrong here, please! Since it looks like I may have found something that was overlooked since we are on block 333,390 when I wrote this.
Your analysis reminded me chidish joke, how to prove one has 11 fingers on his hands :
On left hand i have 10th finger, 9th finger, 8th finger, 7th finger and 6th finger - so 6. On right hand i have 5 fingers. So 6 + 5 = 11! Eleven fingers, prove me im wrong !!!
Its easy with crypt:
Fact: There is
5,731,614 CRYPT at block 333687. Just look at explorer.
Fact: There is 368000 - 333687 = 34313 blocks to be found till POW phase ends.
Fact: There is 34313 * 31.25 =
1,072,281.25 of possible POW coins yet to be mined.
Fact: 3 of 4 blocks found are POS blocks. Just look at extraction at block explorer. It says there was
~75% POS blocks of last 1000 of blocks.
Fact: POS block do not generate POW reward.
So there is 1,072,281.25 * (1/4) ~
268,000 POW coins yet to be mined.
This leads me to total number of CRYPT available at the end of POW phase: 5,731,614 plus like 268,000 ->
~6,000,000 CRYPT at block 368000Its same with any POW + POS coin.
Total coins (in case of CRYPT 14.75M)
is just theoretical maximum of coins that could be mined if there are no POS blocks.
Im just wondering that so respected member of cryptocoin comunity lacks basic knowledge on how coin works
.
EDIT: Even if CAP is 11M instead of 14.75M this does not change fact, that there will be only 6M when pow ends
BTW its interesting for POW POS coins: When more coins is minting, then more POS blocks is found -> then less POW blocks is found -> then less coins is generated -> the more valuable existing coins will be.
Oh ok, I just forgot about PoS going on, thanks for explaining! The hash was still there so at the least they own a good percentage of what was being mined combined with PoS then. No big deal though pay the bastards off.
Good luck New Dev Team! I hope the coin goes back to 280K...
