BitShares Forum
Other => Graveyard => BitShares PTS => Topic started by: bytemaster on November 04, 2013, 07:19:00 am
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(http://the-iland.net/static/images/ProtoSharesMoneySupply.png)
This chart shows how the money supply will change by week. This is a 5% reduction in mining reward every week with a maximum supply a little over 2 million in 2 years. This schedule was chosen because ProtoShares is not a currency play but a speculation play on the future value of BitShares and BitShares should be fully developed and deployed within 6 months to 1 year. Therefore mining is meant to encourage early adoption.
The BitShares money supply will be about 20 million so ProtoShares represents at most 10% of the eventual BitShare money supply. BitShares will be mined over about 10 years.
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Protoshares can be changed into Bitshares ?
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For every ProtoShare you own you will be granted 1 BitShare in genesis block. So they don't CHANGE INTO BitShares you get both :)
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Will all DACs released by invictus innovations use the same form of protoshares, or will there be a separate block chain for the protoshares of each DAC?
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Will all DACs released by invictus innovations use the same form of protoshares, or will there be a separate block chain for the protoshares of each DAC?
ProtoShares will be the foundation for each DAC based upon BitShares we release. We will probably fork ProtoShares into ProtoDomains so that they can be priced separately in about 3 months. In this case ProtoDomains will start out honoring ProtoShares positions.
ProtoShares are a pricing mechanism used to fund development of DACs. IF there is a new DAC idea that we want to 'price' in the market, we will split it off from ProtoShares. In effect, owning ProtoShares will give you some cut in every DAC we ever release.
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I thought the reward was supposed to decrease 5% a week. It looks like it's decreasing around 5% a day. Anyone have an explanation for this difference?
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I thought the reward was supposed to decrease 5% a week. It looks like it's decreasing around 5% a day. Anyone have an explanation for this difference?
Mining rate is supposed to be every 5 minutes, but initial demand was so high that it has been closer to every 30 sec... once difficulty adjusts we we be back on schedule, perhaps accelerated by 1 month. Note that Bitcoin also has this problem and is currently over a month ahead as well.
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I thought the reward was supposed to decrease 5% a week. It looks like it's decreasing around 5% a day. Anyone have an explanation for this difference?
Mining rate is supposed to be every 5 minutes, but initial demand was so high that it has been closer to every 30 sec... once difficulty adjusts we we be back on schedule, perhaps accelerated by 1 month. Note that Bitcoin also has this problem and is currently over a month ahead as well.
All Primecoin miners a here, that's why global hashrate is so high!
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Difficulty goes up by 4x in about 45 minutes... we shall see if it makes any difference.