How Expensive Is SmartCash SMART Mining

WHAT'S CAUSING THE PRICE HIKE? Generally speaking, it's almost impossible to tell exactly why certain cryptocurencies prosper while others crash.

But when it comes to SmartCash, the recent buy has occurred within a week after the hive team has released their easy-to-use web-based and mobile-friendly wallet. While the webwallet is centralized and not recommended for long-term holding to help decentralize the currency as much as possible, it does give quick access to both speculators and everyday users who may want to take advantage of smart rewards as well. THE BIGGEST CONCERN One of the biggest concerns I keep running into which is raised by crypto enthusiasts is the large amount of holdings by the hive team. While this is a decent concern and was one of my initial concerns as well, it's actually a good thing when you think about how these coins are going to be used to fund the project. Let's not forget about the costs of servers, development, support and promotion. SmartCash is designed in a way that it's going to remain self-funded through dedicating 80% of the block rewards to the community budget.

SMART MINERS ARE HAPPY WITH 5% Miners generally only care about the price. If the price of a coin is worth mining, they will mine it and will then dump the coins on the market. There are however exceptions where miners only mine coins they believe in its future, in which case they end up accumulating most of the coins they mine, rather than dumping them on the market. In my opinion, a project that encourages and attracts miners, developers and investors with long-term visions, has some really good shot in the crypto market. That's what SmartCash is about.

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It's designed to attract people with long-term visions. NOT EVERYONE IS A MINER Imagine if SmartCash was designed like Bitcoin and miners got 100% of the block rewards. Would the founders announce the project to the public so soon?

Or would they try to mine at least half of the coins themselves before announcing it to the public? And even after that, how many miners are there in the world of cryptocurrencies? How Much Money Do Ubiq UBQ Miners Make here. Would giving all the rewards to miners really help decentralize the coin? Or would it be better to split the rewards between developers, investors, miners as well as anyone else who would want to get their hands dirty and do something for the community? I don't know about you, but I would go with the latter.

And that's why I love SmartCash! WHAT SAY YOU? Tell me what you think about SmartCash below. Do you want a tip in SmartCash? Resteem this post and leave an original comment below and let me know what you think about SmartCash and the future of its blockchain and I will ask to send you some smart coins! Please be original and don't do it just for the tip!

No tip for bots or those who aren't original! Sorry bots!!:] My SmartCash Address: SIMILAR POSTS. I'm totally new to actually owning cryptocurrency and I have to say the downloadable wallet was really easy to setup and use. It took a good while for the blockchain to fully update at the current/present date, which makes me worry that in the future, it's going to take a painfully long time for future installers. I think in the future anyone who creates a currency should think about this complicated issue, and come up with a way for the update to happen much quicker. The SmartCash wallet is very intuitive overall and after asking a couple of questions about it to the folks on the support channel of the Smartcash slack group, I had a very solid grasp of how to use it. I haven't sent anyone smartcash yet, so that's one area I still need to get some hands-on practice.

When I looked at the send currency section in the wallet, there were somethings that didn't make sense to me but I don't have any more to say on that topic yet until I successfully send someone cash, but something seemed unintuitive about it at first. In the folder I normally keep the SmartCash wallet though, I accidentally clicked the re-install and almost had a meltdown worrying that I might have destroyed my laptop wallet and lost all my SmartCash. I think the smartcash developers should do something to make it clear about which item/icon you click on to open in the smartcash folder that people have on their desktops so they don't accidentally re-install it (I made that stupid mistake in my early first days using the wallet).

That was a bit nerve-racking when that scary issue happened, but it turned out to be a false alarm, I stopped the installation and was OK. Thank goodness someone from the SmartCash slack group helped me with that issue. Honestly, I think 5% set aside for Miners is a bit on the low side, I would have put it at closer to 10%, because even with my limited knowledge of cryptocurrency, I think in a pie-in-the-sky sense, you would want to attract a good population of miners, they are typically IT-oriented people who are willing to make long-term investments in hardware equipment and knowledge. I would think building a strong miner community would add a special element to the currency's outreach efforts. 80% for the community, I'm not sure how I feel about this one, I think I'm going to need to learn more before I make an educated statement on it. Having that large sum can be both good or bad, it has the possibility of being abused or used to the great benefit of the SmartCash community. I just hope there isn't a lot of pork barrel spending with those funds.

I hope they are spent wisely, even with voting as partly shaping how some of those funds are used. Tip 100 Thanks for the long comment! Miners can earn more than 5%. If they hold for example, they get 15% in rewards and if they actively work for the community or participate in promotions such as the video and writing contests or giveaways, they can even earn a portion of the 80%. Not everyone is able to mine or can mine so by splitting the rewards this way, a wider range of people can benefit from the block rewards by getting involved in the project which results into what you see now.

We've made it to top 100 cryptos in just 3 months! That's quite a big achievement and it's only been possible because of the way block rewards are being distributed. Also, the project aims towards automating the community budget so later on all payments will be automatic based on the votes cast by the community. Cara Mining Ethereum ETH Dengan Android. I guess the question that comes to mind is what percentage do you set aside for miners?

In one sense, building a community of miners can help to grow interest in the cryptocurrency, on the other hand, as you said you get people who strip-mine. Couldn't one argue that having a healthy mining community will draw knowledgeable IT-oriented people to the currency? I don't know enough about the subject to make an educated argument on both sides, but my challenge to you is if you were asked to argue the other side, for more than 5% for miners what would your argument be?