I dont see inflation as a problem. Even though, there is a cap in Bitcoin , there is still inflation in BTC atm about 10 % pa. The problem is , I think , not having enough interest . You can only use this currency in (limited) exchanges.(I dont take into account small shops)
Exchanges that deal with quark should be increased and also there should be a direct way to convert it to fiat.
These are first steps , I think , there are lot to say but is meaningless unless above steps handled.
Topic: [ANN] [QRK] Quark | Core 0.10 upgrade - page 377. (Read 1031025 times)
so weather that be an end point and just transactions after 3 years or after the reward goes to zero - its really not the big concern the point is it does not keep inflating forever.
I can see that people could be put off by inflation, even one as small as 0.5% pa.
My current thinking is to change the minimum reward to Max(X, TransactionFees) for say 3 - 6 years, with X getting smaller over the period until it reaches 0.
so this implies - a reward (x) + trans fees .
and then
if so , perfect .
yes, in essence.
so weather that be an end point and just transactions after 3 years or after the reward goes to zero - its really not the big concern the point is it does not keep inflating forever.
I can see that people could be put off by inflation, even one as small as 0.5% pa.
My current thinking is to change the minimum reward to Max(X, TransactionFees) for say 3 - 6 years, with X getting smaller over the period until it reaches 0.
so this implies - a reward (x) + trans fees .
and then
if so , perfect .
so weather that be an end point and just transactions after 3 years or after the reward goes to zero - its really not the big concern the point is it does not keep inflating forever.
I can see that people could be put off by inflation, even one as small as 0.5% pa.
My current thinking is to change the minimum reward to Max(X, TransactionFees) for say 3 - 6 years, with X getting smaller over the period until it reaches 0.
Just to explain the original thinking behind the 0.5% inflation.
After six months, with millions of coins in circulation, there was a fear that the transactions fees would not be enough of an incentive for miners to keep on mining, so it was decided to give a block a minimum reward of 1.
Another option would be to have block reward be MAX(1, TransactionFees). That way, if transaction fees become large enough, the inflation is essentially zero. Also this keeps incentive to mine when transaction fees are low.
Comments?
After six months, with millions of coins in circulation, there was a fear that the transactions fees would not be enough of an incentive for miners to keep on mining, so it was decided to give a block a minimum reward of 1.
Another option would be to have block reward be MAX(1, TransactionFees). That way, if transaction fees become large enough, the inflation is essentially zero. Also this keeps incentive to mine when transaction fees are low.
Comments?
+ 1 exactly that is the incentive .
and there is another vector , a move to Mpow and its relatives in the future , will help to secure the network in many ways , because it is actually harder for single entities to gain critical amounts of % of network .
its of course not impossible , but much more difficult .
so in essence its another advantage to the Mpow system - i think it could get by on Tran fees , or it could taper down to a 1 mil reward for 3 years , its really of little consequence you see , the point is that the investor has confidence that his investment or payment instrument won't be inflated to 0 .
so weather that be an end point and just transactions after 3 years or after the reward goes to zero - its really not the big concern the point is it does not keep inflating forever.
but , however max makes a critical point about security , but take into account the new vectors relating to Mpow.
Just to explain the original thinking behind the 0.5% inflation.
After six months, with millions of coins in circulation, there was a fear that the transactions fees would not be enough of an incentive for miners to keep on mining, so it was decided to give a block a minimum reward of 1.
Another option would be to have block reward be MAX(1, TransactionFees). That way, if transaction fees become large enough, the inflation is essentially zero. Also this keeps incentive to mine when transaction fees are low.
Comments?
After six months, with millions of coins in circulation, there was a fear that the transactions fees would not be enough of an incentive for miners to keep on mining, so it was decided to give a block a minimum reward of 1.
Another option would be to have block reward be MAX(1, TransactionFees). That way, if transaction fees become large enough, the inflation is essentially zero. Also this keeps incentive to mine when transaction fees are low.
Comments?
I think the inflation should be zero from day one.
Bitcoin is successful because there is a hard limit.
Bitcoin is successful because there is a hard limit.
I agree , to a degree , and this could be an option , but I dont mind the 1 million per year for 3 years, at least everyone knows the score it puts a defined cap in place .
But yeah its all open for discussion I guess ?
Who OPs this thread ?
I suggest make a new one if we push forward ?
Perhaps flip you could or someone else . But later I guess .
I suggest make a new one if we push forward ?
Perhaps flip you could or someone else . But later I guess .
I'm managing this thread. I am completely open to discussion here.
Ok sweet great .
Who OPs this thread ?
I suggest make a new one if we push forward ?
Perhaps flip you could or someone else . But later I guess .
I suggest make a new one if we push forward ?
Perhaps flip you could or someone else . But later I guess .
I'm managing this thread. I am completely open to discussion here.
Who OPs this thread ?
I suggest make a new one if we push forward ?
Perhaps flip you could or someone else . But later I guess .
I suggest make a new one if we push forward ?
Perhaps flip you could or someone else . But later I guess .
I think the inflation should be zero from day one.
Bitcoin is successful because there is a hard limit.
Bitcoin is successful because there is a hard limit.
I agree , to a degree , and this could be an option , but I dont mind the 1 million per year for 3 years, at least everyone knows the score it puts a defined cap in place .
But yeah its all open for discussion I guess ?
I think the inflation should be zero from day one.
Bitcoin is successful because there is a hard limit.
Bitcoin is successful because there is a hard limit.
added to my site see sig
I would also propose a cap to the 0.5 % inflation after 3 years -
...
then 3 following years of .05% inflation .
...
then 3 following years of .05% inflation .
At the moment Quark will have 0.5% inflation after coin generation. I'm open to have a community vote on what the inflation should be.
Sorry max I wasnt clear im saying it should cap after 3 years , full stop after the 3 years of 0.5% inflation .
Its gets complex quickly but the paradigm of inflation is somewhat a product of our sadly exising systems , so a net deflationary system that is well distributed , is not a problem at all .
I mean guys come on , " name coin" is in BTCe no one is using the supposed services it provides "Devcoin " is the definition of a centralized system .
Quark should be on a marjor exchange , it just needs the right algorithm .
And dev support .
I would also propose a cap to the 0.5 % inflation after 3 years -
...
then 3 following years of .05% inflation .
...
then 3 following years of .05% inflation .
At the moment Quark will have 0.5% inflation after coin generation. I'm open to have a community vote on what the inflation should be.
I like the ideas being put forward.
flip - i will contact you soonish -
all we need to know Quark community is , how big can the bounty get to pay the Dev to do the work >?
and of course which Dev ha ha .
all we need to know Quark community is , how big can the bounty get to pay the Dev to do the work >?
and of course which Dev ha ha .
I would also propose a cap to the 0.5 % inflation after 3 years -
of course this is a serious issue that would have to go to community vote , and no one could argue right now that anyone can have some Quark , so in this special case there should be no complaining .
but i would say , keep the emission as it is .
then 3 following years of .05% inflation .
then Cap it with only a fee structure.
what this effectively means is we have a currency here that is trading currently near 0 so anyone an everyone has had , is having a chance to gain some , then a period of 3 years of inflation , then a cap.
this is very much like a nicely executed market driven distribution , if Ripple could have achieved something like this then they might have gained more popularity .
of course this is a serious issue that would have to go to community vote , and no one could argue right now that anyone can have some Quark , so in this special case there should be no complaining .
but i would say , keep the emission as it is .
then 3 following years of .05% inflation .
then Cap it with only a fee structure.
what this effectively means is we have a currency here that is trading currently near 0 so anyone an everyone has had , is having a chance to gain some , then a period of 3 years of inflation , then a cap.
this is very much like a nicely executed market driven distribution , if Ripple could have achieved something like this then they might have gained more popularity .
I'm starting to like this MPoW more and more 
.
How would this affect existing infrastructure?
. How would this affect existing infrastructure?
also to Max - no this is incorrect , it would disrupt all the Robots
all the pools would have to do is update to the new client , run a new miner compiled , there are PTS miners in the wild now .
If there was a disruption in the Robot side of thing this would rather switch the incentive to buying Quark rather than mindlessly mining and selling .
that combined with the removal of some downward pressure would allow Quark to at least reach the potential that in my mind an this community's mind it should.
its sad to see Quark at the price it is , but it is only due to the lack of some community management, i'm happy to help in this regard.
in fact i can tell you i'd rather see Quark on BTC-e than a lot of other cryptocurrencies - i'm not saying they would shoot for it , but it is certainly got a lot of support , and its a great concept.
I'm starting to like this MPoW more and more .
How would this affect existing infrastructure?
. How would this affect existing infrastructure?
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