I would like to open a discussion about Bitbean´s block reward, i really like this coin and this community, i really want this coin to be a succesfully coin, but in my opinion create daily 1.4 millions of coins is killing the coin value, why not low the reward to some lower quantity like 100 coins or 10 coins per block?, i think if we dont do something about it, we will find Bitbean price at one satoshi level before 2017, please let me know your thinking about it
in my opinion, the bitbean´s block reward is perfectly, better than other coins. a discussion about the reward is boring.
only if the block time reduced would i prefer a smaller block reward. exemple 10sec -> 100bitb, but such a small block time is a little bit difficult from the technical view. (orphan blocks and so on)
I would agree that the block reward is perfect, at least the spec. of 1.4M a day. BitBean has one of the strongest PoS networks out there, with consistently 75%+ of available supply staking. This is very important for a PoS crypto to maintain security of the network. The issue is not the reward structure, but the demand and use for Bitbean in the marketplace. Building a marketplace that creates a demand for using Bitbean is what needs to be done.
There will be an adjustment in the difficulty algorithm and other updates to fine tune block times and get them closer to spec. (1 Minute). With this change you will see a reduction of actual rewards in order to improve the spec. From many technical perspectives, especially with a maximum block size of 20MB, we do not want shorter block times, as this will cause real problems when block sizes start getting larger.
We will likely be adopting Segregated Witness in a future release (v1.X). V2.0 will have some proposed significant changes to allocation of block rewards by the network. Specifically a new algo will be introduced, called PoTs (Proof of Transaction Sprouts) to encourage velocity of the currency, further adding to Bitbean as a Transaction-centric digital currency. PoTs will allow smaller wallets to have a more active role in the network and receive more SPROUTs.
Best Regards,
Shawn Kent (aka Bitbeaner)
Project Manager & Lead Developer
Bean Core, Team Bean, BitBean
www.bitbean.org
