More users mine = more difficult?

Front Page Forums Platform Mining More users mine = more difficult?

This topic contains 4 replies, has 2 voices, and was last updated by  James Bachini 3 months, 2 weeks ago.

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  • #5936 Reply

    ShineBro

    IS JSECoin working like Bitcoin? So more people mine it, more is difficult to earn?

    #5939 Reply

    Dave

    Hi ShineBro,

    Finding a valid hash earns you a ticket into into a lottery system where 50 winners get rewarded a 1JSE token. This lottery takes place every 30 seconds, with a new 50 x 1JSE available each time. This means that the more users mining the less likely you will be to receive a reward. The hope is that the more people mining will mean greater demand and therefore a higher valuation for the tokens you do receive.

    #5943 Reply

    Promoter

    yeah, as a low gear Chromebook user I love this lottery system: sometimes i earn up to 10 coins/hour 🙂

    #6256 Reply

    Steve

    Dave,

    How would the mining affect the valuation of the coins if the mining is separate from the supply of coins being released to the public? The only way the mining would have an affect on coin price is if the coins weren’t pre mined. But since they are pre mined, the mining system (even though competitive) will not cause the other 5Bil coins to change price.

    #6264 Reply

    James Bachini
    Keymaster

    The tokens are all valued the same and interchangeable. There is one difference that the ICO will use an ERC20 contract and so will the exchange integrations but we will provide functionality for users to deposit/withdraw tokens between the platform/apps and ERC20 compatible addresses.

    The mining wont directly affect the price on exchange but as awareness of the project grows we expect both demand on exchanges and demand to mine to grow together in a correlated manner.

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