5 days ago, 50 million NHZ moved out of the poloniex@escrow account into the escrow payout account. 10 million then went to NHZHeroes account and apparently distributed to various personal accounts.
I know NHZ distribution model is bounty-based but these huge distributions should be noted somewhere at least in the forum imo. Is everyone okay that this is not discussed?! Can someone explain why escrow is moving that much NHZ and to whom? Please send links if I missed it, thanks!
It was outlined in the previous forum, but it's for the best that I post it here as well. We withdraw 50 million from the Polo escrow account every month. This process requires both Pharesim and I to make contact with a representative from Polo who then releases the funds. 10 million is paid for the development team, and associated development costs, 29-31 million per month of that goes towards the node reward bounty account, and the remaining funds are going towards soon to be announced work bounties, and social media giveaways + faucets.
https://bitcointalk.org/index.php?topic=551666.1400Taken from old topic:
Currently 260,000,000 coins have been distributed from the 1,000,000,000. The following figures assume that 1m coins are distributed by the nodes every day for one year.
120,000,000: Development Bounty
365,000,000: Nodes
12,000,000: Giveaways (1,000,000 per month)
*Estimate 1000 users @ 100 NHZ per day = 36,500,000 : Website Faucet
Total over 1 year = 533,500,000 NHZ
+ 260,500,000 already distributed
= 794,000,000 NHZ (79.4% distribution in one year)
Roughly 6.6% of the total supply is distributed per month. Using these numbers, you would be looking at a total distribution period of 15 months from today, October 4’th, 2014.
The formula is simple: 1,000,000 / # of nodes - This keeps the market healthy, and running nodes profitable so there is still incentive for people to run them and continue to grow the network.
