Ok, another proposal. I've been talking to some people and they all advised that we shouldn't bring the block rewards cut to the table right now, since piggy is a very recent coin it would destabilize us. Since I think they are right I propose a block halving system (no way we can run from this lol).
my proposal:
4000 until one third of the coins are out.
then 2000, 1000, 500, 250, 100, 50 in equal height intervals.
then 10 to keep the network going.
Topic: [ANN] [PIG] Piggycoin old Thread. - page 35. (Read 104054 times)
It's a shame the voting page doesn't have any other options. For instance, the most commonly applied mechanism (block halving at defined intervals) isn't there.
I'm all for simplicity, especially if we are wanting kids to understand some aspects of this coin, but it's more important for the coin
to be usable as a currency by its target market (rewards, gifts, exchange with friends, in-game purchases, etc). So it needs to be seen as fair, stable, and secure.
When making any changes, it's important to:
- Avoid resulting in a large instamine (or the perception of one). Moving from 4000 PIG to 100 PIG reward after one month would mean that at the 12 month mark the first month's mining would coult for 80% of the total. That is, huge instamine.
- Avoid resulting in a large premine (or the perception of one). Moving from 4000 PIG to 100 PIG reward after one month would mean that at the 12 month mark the premine would coult for 20% of the total. That is, huge premine.
- Not lose trust of users and investors. If you change the rules once, you could change the rules again, and who's to know if that's in their favour or not? That doesn't mean rules shouldn't change if the reasons are right.
I'm all for simplicity, especially if we are wanting kids to understand some aspects of this coin, but it's more important for the coin
to be usable as a currency by its target market (rewards, gifts, exchange with friends, in-game purchases, etc). So it needs to be seen as fair, stable, and secure.
When making any changes, it's important to:
- Avoid resulting in a large instamine (or the perception of one). Moving from 4000 PIG to 100 PIG reward after one month would mean that at the 12 month mark the first month's mining would coult for 80% of the total. That is, huge instamine.
- Avoid resulting in a large premine (or the perception of one). Moving from 4000 PIG to 100 PIG reward after one month would mean that at the 12 month mark the premine would coult for 20% of the total. That is, huge premine.
- Not lose trust of users and investors. If you change the rules once, you could change the rules again, and who's to know if that's in their favour or not? That doesn't mean rules shouldn't change if the reasons are right.
premined coins can always be used to promote the coin. If they're worth more, more things can be accomplish.
I believe piggycoin dev is interested in the growth of the coin and I do believe him. So my vote will be yes. We should decrease the block reward.
And for those with jealous feelings, I do not own that much number of coins, and wouldn't worry if some guys see they're value increase. I'm interested in cryptos for the good reasons of it, not just for personal interest and fast profit. And if decreasing the block reward makes some the coin better in some way we should do it.
I believe piggycoin dev is interested in the growth of the coin and I do believe him. So my vote will be yes. We should decrease the block reward.
And for those with jealous feelings, I do not own that much number of coins, and wouldn't worry if some guys see they're value increase. I'm interested in cryptos for the good reasons of it, not just for personal interest and fast profit. And if decreasing the block reward makes some the coin better in some way we should do it.
To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
This is an excellent idea. I have avoided Piggy so far because of the block reward setup. If you do this, I would invest.I will start a vote on this, if the community agrees we will do it.
Member MyFarm sent this "100 coins per block is still 72,000 coins per day and 26,280,000 coins per year. That's a LOT, but MUCH better than what we have now. As you are now, you're really NOT aimed to kids because there is no way you'll get a $.01 per coin valuation. No kid is going to play with $.00003223 per coin valuation. But with 100 coins per block, we can get a valuation of $.01 per coin in my opinion which kids DO understand.", and I think he´s right, that's just my position though, let's see what the community thinks.
Pretty bad idea imo as it benefits current piggycoin holders way too much.
What do you suggest? A bigger number than 100?
Keep it the same or implement a decreasing block reward. Premine was 21 million coins. This corresponds to 5250 blocks which is already quite a large number. By lowering the block reward to 100 it'll increase to 210000 blocks. Will pretty much lose all credibility of the coin if this goes through imo.
I was trying to avoid a decreasing block reward, what about keeping it the same and discuss it further ahead?
Even maybe 500 is too small, we need new miners to be incentived to mine
To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
This is an excellent idea. I have avoided Piggy so far because of the block reward setup. If you do this, I would invest.I will start a vote on this, if the community agrees we will do it.
Member MyFarm sent this "100 coins per block is still 72,000 coins per day and 26,280,000 coins per year. That's a LOT, but MUCH better than what we have now. As you are now, you're really NOT aimed to kids because there is no way you'll get a $.01 per coin valuation. No kid is going to play with $.00003223 per coin valuation. But with 100 coins per block, we can get a valuation of $.01 per coin in my opinion which kids DO understand.", and I think he´s right, that's just my position though, let's see what the community thinks.
Pretty bad idea imo as it benefits current piggycoin holders way too much.
What do you suggest? A bigger number than 100?
Keep it the same or implement a decreasing block reward. Premine was 21 million coins. This corresponds to 5250 blocks which is already quite a large number. By lowering the block reward to 100 it'll increase to 210000 blocks. Will pretty much lose all credibility of the coin if this goes through imo.
I was trying to avoid a decreasing block reward, what about keeping it the same and discuss it further ahead?
To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
This is an excellent idea. I have avoided Piggy so far because of the block reward setup. If you do this, I would invest.I will start a vote on this, if the community agrees we will do it.
Member MyFarm sent this "100 coins per block is still 72,000 coins per day and 26,280,000 coins per year. That's a LOT, but MUCH better than what we have now. As you are now, you're really NOT aimed to kids because there is no way you'll get a $.01 per coin valuation. No kid is going to play with $.00003223 per coin valuation. But with 100 coins per block, we can get a valuation of $.01 per coin in my opinion which kids DO understand.", and I think he´s right, that's just my position though, let's see what the community thinks.
Pretty bad idea imo as it benefits current piggycoin holders way too much.
What do you suggest? A bigger number than 100?
Keep it the same or implement a decreasing block reward. Premine was 21 million coins. This corresponds to 5250 blocks which is already quite a large number. By lowering the block reward to 100 it'll increase to 210000 blocks. Will pretty much lose all credibility of the coin if this goes through imo.
To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
This is an excellent idea. I have avoided Piggy so far because of the block reward setup. If you do this, I would invest.I will start a vote on this, if the community agrees we will do it.
Member MyFarm sent this "100 coins per block is still 72,000 coins per day and 26,280,000 coins per year. That's a LOT, but MUCH better than what we have now. As you are now, you're really NOT aimed to kids because there is no way you'll get a $.01 per coin valuation. No kid is going to play with $.00003223 per coin valuation. But with 100 coins per block, we can get a valuation of $.01 per coin in my opinion which kids DO understand.", and I think he´s right, that's just my position though, let's see what the community thinks.
Pretty bad idea imo as it benefits current piggycoin holders way too much.
What do you suggest? A bigger number than 100?
Keep it the same or implement a decreasing block reward. Premine was 21 million coins. This corresponds to 5250 blocks which is already quite a large number. By lowering the block reward to 100 it'll increase to 210000 blocks. Will pretty much lose all credibility of the coin if this goes through imo.
I was trying to avoid a decreasing block reward, what about keeping it the same and discuss it further ahead?
To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
This is an excellent idea. I have avoided Piggy so far because of the block reward setup. If you do this, I would invest.I will start a vote on this, if the community agrees we will do it.
Member MyFarm sent this "100 coins per block is still 72,000 coins per day and 26,280,000 coins per year. That's a LOT, but MUCH better than what we have now. As you are now, you're really NOT aimed to kids because there is no way you'll get a $.01 per coin valuation. No kid is going to play with $.00003223 per coin valuation. But with 100 coins per block, we can get a valuation of $.01 per coin in my opinion which kids DO understand.", and I think he´s right, that's just my position though, let's see what the community thinks.
Pretty bad idea imo as it benefits current piggycoin holders way too much.
What do you suggest? A bigger number than 100?
Keep it the same or implement a decreasing block reward. Premine was 21 million coins. This corresponds to 5250 blocks which is already quite a large number. By lowering the block reward to 100 it'll increase to 210000 blocks. Will pretty much lose all credibility of the coin if this goes through imo.
Should block rewards be reduced? Please vote.
EDIT: deleted topic.
EDIT: deleted topic.
To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
This is an excellent idea. I have avoided Piggy so far because of the block reward setup. If you do this, I would invest.I will start a vote on this, if the community agrees we will do it.
Member MyFarm sent this "100 coins per block is still 72,000 coins per day and 26,280,000 coins per year. That's a LOT, but MUCH better than what we have now. As you are now, you're really NOT aimed to kids because there is no way you'll get a $.01 per coin valuation. No kid is going to play with $.00003223 per coin valuation. But with 100 coins per block, we can get a valuation of $.01 per coin in my opinion which kids DO understand.", and I think he´s right, that's just my position though, let's see what the community thinks.
Pretty bad idea imo as it benefits current piggycoin holders way too much.
The uniqueness of this currency is that it is targeted for kids. If kids aren't going to use it because it is too hard to understand, then NOBODY benefits.
To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
This is an excellent idea. I have avoided Piggy so far because of the block reward setup. If you do this, I would invest.I will start a vote on this, if the community agrees we will do it.
Member MyFarm sent this "100 coins per block is still 72,000 coins per day and 26,280,000 coins per year. That's a LOT, but MUCH better than what we have now. As you are now, you're really NOT aimed to kids because there is no way you'll get a $.01 per coin valuation. No kid is going to play with $.00003223 per coin valuation. But with 100 coins per block, we can get a valuation of $.01 per coin in my opinion which kids DO understand.", and I think he´s right, that's just my position though, let's see what the community thinks.
Pretty bad idea imo as it benefits current piggycoin holders way too much.
What do you suggest? A bigger number than 100?
To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
This is an excellent idea. I have avoided Piggy so far because of the block reward setup. If you do this, I would invest.I will start a vote on this, if the community agrees we will do it.
Member MyFarm sent this "100 coins per block is still 72,000 coins per day and 26,280,000 coins per year. That's a LOT, but MUCH better than what we have now. As you are now, you're really NOT aimed to kids because there is no way you'll get a $.01 per coin valuation. No kid is going to play with $.00003223 per coin valuation. But with 100 coins per block, we can get a valuation of $.01 per coin in my opinion which kids DO understand.", and I think he´s right, that's just my position though, let's see what the community thinks.
Pretty bad idea imo as it benefits current piggycoin holders way too much.
Obviously you know my vote 
If this coin is going to be aimed towards kids which I think is AWESOME and what makes it unique, then we have to strive for a $.01 valuation per coin because that's what kids will understand. If a teacher sees that the kids have to deal with .0000421354 valuation per coin, I just don't think it's going to happen.
Reducing the block reward keeps things simple yet allows there to still be tons of coin yet be rare enough that I feel we can get a $.01 valuation.
If we DO fork, please be sure to fork at a future block so the pools and exchanges can implement the new code. I've seen a couple coins break because the dev put the fork only a few minutes ahead. Heheh.
If this coin is going to be aimed towards kids which I think is AWESOME and what makes it unique, then we have to strive for a $.01 valuation per coin because that's what kids will understand. If a teacher sees that the kids have to deal with .0000421354 valuation per coin, I just don't think it's going to happen.
Reducing the block reward keeps things simple yet allows there to still be tons of coin yet be rare enough that I feel we can get a $.01 valuation.
If we DO fork, please be sure to fork at a future block so the pools and exchanges can implement the new code. I've seen a couple coins break because the dev put the fork only a few minutes ahead. Heheh.
Lol, if we do fork we have to do it days after the decision, I want everyone updated and informed about this.
Obviously you know my vote
If this coin is going to be aimed towards kids which I think is AWESOME and what makes it unique, then we have to strive for a $.01 valuation per coin because that's what kids will understand. If a teacher sees that the kids have to deal with .0000421354 valuation per coin, I just don't think it's going to happen.
Reducing the block reward keeps things simple yet allows there to still be tons of coin yet be rare enough that I feel we can get a $.01 valuation.
If we DO fork, please be sure to fork at a future block so the pools and exchanges can implement the new code. I've seen a couple coins break because the dev put the fork only a few minutes ahead. Heheh.
If this coin is going to be aimed towards kids which I think is AWESOME and what makes it unique, then we have to strive for a $.01 valuation per coin because that's what kids will understand. If a teacher sees that the kids have to deal with .0000421354 valuation per coin, I just don't think it's going to happen.
Reducing the block reward keeps things simple yet allows there to still be tons of coin yet be rare enough that I feel we can get a $.01 valuation.
If we DO fork, please be sure to fork at a future block so the pools and exchanges can implement the new code. I've seen a couple coins break because the dev put the fork only a few minutes ahead. Heheh.
To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
This is an excellent idea. I have avoided Piggy so far because of the block reward setup. If you do this, I would invest.I will start a vote on this, if the community agrees we will do it.
Member MyFarm sent this "100 coins per block is still 72,000 coins per day and 26,280,000 coins per year. That's a LOT, but MUCH better than what we have now. As you are now, you're really NOT aimed to kids because there is no way you'll get a $.01 per coin valuation. No kid is going to play with $.00003223 per coin valuation. But with 100 coins per block, we can get a valuation of $.01 per coin in my opinion which kids DO understand.", and I think he´s right, that's just my position though, let's see what the community thinks.
trade volume 400$ lol.. that 500% doesnt mean anything with that volume
Jump in!!
He has a good point there, creating a fork in the chain might actually be a good idea. If your trying to keep it simple, maybe creating a simple block halving schedule.
Afterall the aim is to teach others about crypto currencies, would also make the coins more valuable no?
Afterall the aim is to teach others about crypto currencies, would also make the coins more valuable no?
Hey, as I stated before the coin is like this in the sake of simplicity. So its easier to understand and comprehend by outsiders. What if we add rewards after the last block, so miners keep the network alive and we can still keep it simple?
That would work. But maybe add a single halvening (soon) but take the coin down to maybe 100, 200, or 500 coins per block? That's still very simple and helps them understand what's going on with other coins. Otherwise you're going to flood the market with coins too fast and I think we'll have a hard time getting anyone to adopt this coin on a wide scale.To keep it REALLY simple, you could just take the block reward down to 100 coins per block. That will add enough age to the coin where you don't need to add a halvening or have more coins be created after the cap is hit as it'll take much longer to hit the cap and then we'll be established enough to rely on miner fees alone.
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