You could've changed the difficulty algo.
We considered this option and would have preferred it. However, we felt that changing the retarget algorithm was too experimental and not guaranteed to have the desired effect.
Bad luck. I rated this better than quark, but now it ranks a lot lower.
I want original block reward back!!!!
not a good mining investment any longer
The Decision to End PoW Early Will Not Significantly Change the Value of the Premine
We understand that not all decisions can be popular with everyone. However, if your reservations stem from the potential of a reduced money supply and its relation to the premine, then your reservations are essentially unfounded. In fact, the decision to end PoW at block 400,000 enriches the remaining premine by only about $2, as explained below.
Money SupplyAt block 400,000, EBT will be 94% mined. Even if we were to stop PoW now, the reduced number of coins would come almost entirely from PoS blocks that compete with PoW blocks. For example, were all blocks thus far created by PoW, the total money supply would be 178 MM. But because of the PoS blocks already minted, the total money supply is currently 154 MM EBT. PoS, therefore, is already responsible for a 9.6% reduction in coins, given a theoretical PoW limit of 250 MM EBT.
An end of PoW at block 400,000 will not significantly effect the money supply by the time of the original PoW end at block 1,100,000. So far, the mean block reward for PoS blocks has been about 10 EBT since the first PoS mint at about block 78700 (Figure 1, below). Since that time, about an average of about 25% of all blocks have been PoS (Figure 2), which is expected to increase over time. For all blocks greater than 400,000, the average PoW reward will be 17.8 EBT. If, as a conservative estimate, 35% of these blocks are PoS, then the average block reward for blocks 400,000 through 1,100,000 would be about 15 EBT (17.9*0.65 + 10*0.35). If all blocks are PoS, the estimated mean block reward would be 10.
Since blocks between 400,000 through 1,100,000 are only about 6% of the absolute maximum PoW money supply of 250 MM, the reduction in money supply coming from a switch to pure PoS at block 400,000 would be only about 2% (((15-10)/15)*6%).
PremineIn other words, ending PoW at block 400,000 would be equivalent to a 1.02% premine (1/98), or an increase in the premine of 50,000 EBT.
Currently, though,
the premine is 90% spent on bounties. In other words, only about 259,000 EBT of the premine remains, meaning that the relative size of the remaining premine has grown by a factor equating to approximately 5180 EBT. At current prices, this amount of EBT is worth about $2.
Figure 1: EBT PoS Block Mean Reward
Figure 2: Fraction of EBT Blocks that Are PoS
