Help Test the Bitcoin Economic Model with xaucoin > Bitcoin Fast Forward

[xaucoin]

Help Test the Future of the Bitcoin Economic Model with xaucoin > Bitcoin  Fast Forward

Who will be mining Bitcoin when all 21 Million BTC have been mined and are in circulation  ?

In this phase Bitcoin miners supporting the network will only be mining for transaction fees

It is theorized that Bitcoin value and transaction volume during this phase with be sufficiently high enough to sustain network security in terms of hashing power and also continue to ensure that mining for Bitcoin (network transaction fees only) is a worthwhile exercise

Will an increasing centralized Bitcoin network become more decentralized once more  or will big corporations  banks and even government institutions be processing the majority of these transaction fees to keep the network moving  or will people simply stop mining altogether

source  https://wikipedia.org/wiki/Bitcoin

Supply

The bitcoin protocol specifies that the reward for adding a block will be halved approximately every four years. Eventually, the reward will be removed entirely when an arbitrary limit of 21 million bitcoins is reached c. 2140, and record keeping will then be rewarded by transaction fees solely.


xaucoin XAU is PoW SHA-256 and has a  Bitcoin Based Economic Model  >  Fast Forward

2.1 Million Total Coin Base (Approx) and is therefore 10 x More Rare than Bitcoin

Past block 42000 approx  anyone mining xaucoin will only be mining for transaction fees

Initial 500 xaucoins XAU per block with Halving every 2100 blocks and Target spacing 1 min

xaucoin XAU also had a ninja launch to emulate the original Bitcoin release


we welcome community interest  discussion and contribution for our forward thinking and experimental project

xaucoin  https://bitcointalk.org/index.php?topic=974426.0

[Lorenzo]

Xaucoin reminds me of Premine (PMC) although that coin lacked an initial emission phase and skipped straight to the phase where the mining of new coins was supposed to have ended. It was an interesting experiment although it failed in the end - not because of any major technical flaw but simply because people lost interest:

Premine is setting out to prove that cryptographic currency can continue long after the minting process has ended, making it not only a fascinating glimpse into the future of Bitcoin, but also a viable and stable alternative that thanks to its low total supply of less than 500,000 coins, allows each coin to store a great amount of wealth. This makes PMC an excellent alternative store of money. To say Premine is the future of Bitcoin isn’t far from the truth.

Link: http://bitcointalk.org/index.php?topic=427519

EDIT: Well this is depressing:

So... How profitable was (is?) mining PMC for transaction fees anyway?

I've been semi-following this coin for a while and I know PMC was designed as an experiment to see what the future Bitcoin economy might look like once all coins have been fully mined and whether or not a community of miners can be supported solely through transaction fees alone so I'm interested to see how the experiment turned out now that it's coming to a close.

Well, I can tell you the result of that experiment. It turns out people are greedy bastards, and do not pay transaction fees unless they are forced to by the client. Even when PMC was quite popular, and worth quite a lot, it was impossible to get any profit from mining. Transactions with thousands of PMC didn't even have 0.1 PMC in fee.

I have been mining PMC from the start, and have been losing money on it from the start as well.

[Lboss]

Help Test the Future of the Bitcoin Economic Model with xaucoin > Bitcoin  Fast Forward

Who will be mining Bitcoin when all 21 Million BTC have been mined and are in circulation  ?

In this phase Bitcoin miners supporting the network will only be mining for transaction fees

........

There was already a coin for testing purpose: IXCoin. Here is the BTT link : https://bitcointalk.org/index.php?topic=36218.0

It is afaik first altcoin and also a merged mined coin. So you dont need extra energy for mining IXCoin. If you want to test after all coins has been mined , try to help IXCoin.

Or good luck with your new coin.

[xaucoin]

Help Test the Future of the Bitcoin Economic Model with xaucoin > Bitcoin  Fast Forward

Who will be mining Bitcoin when all 21 Million BTC have been mined and are in circulation  ?

In this phase Bitcoin miners supporting the network will only be mining for transaction fees

........

There was already a coin for testing purpose: IXCoin. Here is the BTT link : https://bitcointalk.org/index.php?topic=36218.0

It is afaik first altcoin and also a merged mined coin. So you dont need extra energy for mining IXCoin. If you want to test after all coins has been mined , try to help IXCoin.

Or good luck with your new coin.

@Lorenzo  xaucoin was not pre mined  so this does not really apply  although thank you for the information


@Lboss  2.1 million approx total xaucoin makes for a micro economic model in relation to Bitcoin  unlike IXCoin

Merged mining cannot be applied to the experiment or model as Bitcoin itself cannot be merged mined above another crypto coin currently

xaucoin has a viable independent micro economic model in relation to the rarity and scarcity of Bitcoin and if you will IXCoin as well

again thank you for the information  which is very useful