Future of Qora Mining?



  • Greetings!
    I have a general question about Qora. I noticed in previous posts that Burst will be mined out probably within a year. Sad to read that as I am just getting on this train. Now I am wondering about Qora. Does that coin have a longer mining life? After Burst is done I would like to gear up one of my computers to mine another altcoin, and if it is going to be minable for a while Qora is looking good so far. Thanks!



  • @Lucifer8 When every Burst will be mined it won't be the end :

    @daWallet said in Is The Party Going To End Soon:

    @jervis You are right. The design is that transactions fees per block will be higher than the mining reward in some years. Same like with Bitcoin only faster.

    @socalguy The mining reward has the character as a bonus payout for distribution and incentive to build up the network.
    It is a decreasing function with 5% less every month:

    0_1473157935798_reward.png

    One could argument, that the pioneers mining Burstcoins have had an unfair advantage, but most of us put at least equal or more time and effort in it than ever could be mined the last 2 years. If I wouldn't have mined but bought the coins now I could acquire a very similar stack of coins today with the same money.

    Many of the big miners in the early days sold all of their coins on the exchanges and helped to distribute the coin to many people and pushing the price down. I think Burst is one of the best distributed Coins out there:

    https://web.burst-team.us/wp-content/uploads/2016/05/balance_distr.png (Source Burstcoin.biz, old picture) See also Richlist... http://burstcoin.biz/charts/addresses-by-balance , individual with the most Burstcoins has under 2%)

    I honestly think that we are still in a high inflation phase but slowly Burstcoins get rarer and therefore price climbs up. There are no plans to change the fundamentals of Burst and I'm pretty sure there will never be a majority for it. Anything else would be no better than national centralized currencies.

    This is it. These are all coins and I count on it that in 2021 and later the transaction fees per Block will reward the miners generously. Maybe only 200 coins per Block, but for a much better price.

    alt text

    Don't know about QORA though



  • Thanks. Just wanting to make sure the hard drives I'm buying now can still be put to profitable use next year! 🙂



  • @BURSTguy The burst mining is not estimated to last until 2021 the graph only talks about the coins to be mined so when there is no more coins to be mined will have just the fees to be mined, wich if all goes well will be a good share comparing to the value of the coin at that time, one block could even worth more at that time than values right now...



  • Mining is just the beginning. Real world application is the way to go. The community is tight here and are always thinking of new ideas of how to bring Burst to the real-world markets. If this is met, then Burst will stay as long as people believe and use it for their daily lives.