Bitcoingold upgrade suggestions

As we know bitcoingold will upgrade anywhere between june and will come up with asic resistance Equihash (POW) adding some parameters like 144 , 5
Hope so we will see Lightning network in BTG at the end of june
Not need to worry about confirmations
“Instant Payments. Lightning-fast blockchain payments without worrying about block confirmation times. Security is enforced by blockchain smart-contracts without creating a on-blockchain transaction for individual payments. Payment speed measured in milliseconds to seconds”

As we know bitcoingold is mining with 10 minute time frame for a 1 block reward =12.5 and in hour average 6 blocks are mined
We want developers to increase time frame for 1 block to 12 minutes and in this case average 5 blocks will be mined in an hour.
In this way team can increase mining profitability ratio so the miners can get nice $$ mining reward and from coin prospective it will reduce inflation because an average 5 blocks are mined in an hour.
If the team/developer will increase mining profit reward like see it ( all miners from other equihash will come to bitcoingold and much more strong network.
Within 12 minute time frame they slightly can increase mining profit ratio and it will not effect coin inflation due to 12 minute time frame for a block ( Dont need to worry about confirmation problem as LN coming)
It will reduce coin inflation
It will be more profitable to mine.
The people who thinks it will may rise confirmation problem. It will not BTG is also improving its difficulty to LWMA in this upgrade. And hope so in june once the network comes to Lightning network the confirmation problem solve.
@h4x3rotab @MentalNomad


Iam really hoping you will discuss it with the team as it will help to improve coin prices.

I’m afraid you misunderstand.

If there are 6 blocks mined at 12.5 BTG mining reward, that’s 75 BTG created per hour (coin supply inflation) and 75 BTG per hour miner reward (the funds that attract miners.)

If there are 5 blocks mined at 12.5 BTG mining reward, that’s 62.5 BTG created per hour and 62.5 BTG per hour miner reward.

Reducing coin inflation makes the coin less profitable to mine… the mining reward is the coin inflation.

And before you recommend increasing the inflation rate…

Bear in mind the unavoidable basic fact: confidence in Bitcion and BTG as stores of value comes from their being scarce commodities, subject to a strict and predictable rate of coin supply which is unalterable because of the Consensus rules. Attempting to change the coin supply would be directly against the underlying philosophy, and would almost certainly be rejected by the majority of miners, holders, and the markets.

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We do not want to change in these.

As we know inflation of bitcoingold
1800 Btg is generated a day
1800x30days= 54000
54000*12 months=648000
648000 coins generated in year/17,036,374 current supply
=0.3803 x 100
= 3.8 percent inflation (year)

And with 5 blocks in an hour it will reduce to much
=3.1 inflation year

With 5 blocks you can reduce little difficulty to make it profitable.
Miners will be in profits if they are getting some nice $$ not how many btg? (

In bitcoin mining profits are calculated on basis of $$ (generating in day) not on the basis on how many btc will be mined.
It will be good if block generated in 12 minutes not in 10 minutes.

We do not want in anycase to increase coinsupply

We do not set the Difficulty.

The Difficulty changes automatically in response to the mining hashpower. This is done by the Difficulty Adjustment Algorithm, or DAA.

  • More miners? Blocks come too fast; Difficulty goes up to slow them down and restore balance.
  • Less miners? Blocks come too slow; Difficulty goes down to speed them up and restore balance.

The Difficulty is what causes the rate to be 10 minutes per block. This is the target for the Difficulty Adjustment Algorithm: ten minutes.

If we wanted to make 12 minute blocks, how would this be achieved? By setting the DAA target for 12 minutes instead of 10 minutes… and how do you make it take longer to find a block? By increasing the Difficulty.

Key point: to move the system from 10 minute blocks to slower 12 minute blocks means increasing the difficulty. You can’t then “reduce the difficulty to make it profitable…” because reducing the Difficulty makes the blocks come faster again.

Conclusion: the Difficulty is a result of the DAA, and the purpose of the DAA is to keep the blocks coming at the intended 10 minutes per block. The Difficultly cannot be independently manipulated from the block time; they are two sides of the same coin.

Revenue for mining is dictated by:

  • number of coins per block (reward + fees)
  • value (price) of those coins

We cannot provide more coins without increasing inflation, and we do not dictate the coin price - that’s determined on the open market.

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We are really hoping for btg upgrade date.
We hope so in this upgrade many things will be fixed.

Waiting for the best
AMA all community waiting for long time. Since from the fork their is no AMA till yet. And community confidence have losed in terms of prices. Team have not interacted with the community all are waiting for it
Hope so after or before upgrade you will do AMA.

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