RE: SMARTCASH MAKES HISTORY BY TRIPPLING ITS MARKET CAP IN ONE MONTH

[msg768]

@smartbot tip @markrypto 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.

Comments

[smartbot]

Tipped @markrypto 100 SMART! Comment @smartbot help to claim. Currently the price of SmartCash in the market is $0.062 USD per SMART. To find out more about SmartCash, please visit https://smartcash.cc.

[msg768]

Enjoy the tip and remember a succesful crypto project requires more than miners and the projects that give all the block rewards to miners are usually heavily pre-mined before the launch!

[markrypto]

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?

[msg768]

Miners aren't the only IT-oriented guys needed for a crypto project to succeed. You need developers, programmers, testers, graphists, advertisers, marketers, writers, video makers, etc. I wouldn't really try to argue for the other side because miners don't do any actual work. It's all done by the computer and as long as there is profit in it, there will be people who would be happy to dedicate their computers for mining purposes.

[markrypto]

So then what is the purpose of miners? What purpose do they serve for the good of the cryptocurrency if all they do is buy expensive equipment, kick back, burn up the electricity bill and then collect e-cashola in the process. If they serve no purpose, why even have them at all?

[msg768]

I don't remember saying they serve no purpose. If they served no purpose, that 5% would be 0%.

[markrypto]

I apologize for mistaking or misstating what you said, what I should have done is pose these questions:

1. What is the purpose of cryptocurrency mining in SmartCash? What's the idea behind it? What's the purpose behind it? Does it even serve a purpose?

2. What value does mining bring to the outreach of a currency?

3. How does one calculate what should be a good mining percentage when creating a new cryptocurrency? For instance SmartCash is 5% other cryptocurrencies are much higher. What kind of thought process is involved or behind choosing what percentage makes sense?

[markrypto]

@smartbot withdraw SfR3QRfQpWH4zvrsyUx4UdxqbCtgVqcyT5

[smartbot]

@markrypto: 99.99 SMART has been withdrawn from your account to SfR3QRfQpWH4zvrsyUx4UdxqbCtgVqcyT5. You have been charged 0.01 SMART withdrawal fee. Transaction 010ce524a5b51122194610b3bc6977eeff58b43b35c94705ebe65ae5247d3705 is now completed.