Good News,
Coin creation has now been reduced by approx 67% and we can look towards a further 50% reduction within the next 16 months. I would have preferred a quicker reduction schedule but at least we are heading in the right direction and it may take 100yrs to get to the coin target of 111million coins
The option also exists for a further Fork [eg. POS, anonymity,etc,etc] to allow for a further reduction in the coin creation rate. All good for the medium to long term.
I think a conservative target price for the next 16 months - 99,999 satoshi
Time for the white paper - is a target date of June 15th good for you Dev ?
Maybe we should also add the Fork date to the Thread title
Now that we have the money supply issue fixed, I will begin to add my ideas for the coin over the medium term. Others should too
Unlike 95% of other coins[over 1000 coins] we actually have full time capable Dev's. The sky is the limit.
HardFork V1.2.1
We apologize to alter the original hardfork and ask you all to update your wallets again. There was an inflation problem that had to be checked. We needed to change the specs a bit. The hardfork time will remain the same i.e June 6, 07:30 GMT at block 112,999.
These are the new specs that would kick in after the hardfork:
-Block time increased to 90 secs on average across 5 algorithms.
-Block reward will remain 72 SFR.
-Block reward will halve approx every 18 months (518400 blocks).
-960 blocks will be produced per day. (Reduced due to inflation of coins)
-X11 algorithm added as 4th algorithm
-Blake256 algorithm added as 5th algorithm
Some interesting features also added :
There will be a superblock week after the end of every year for the 1st 5 years where the block reward will be 5 times the block reward at that time. For the 5th year, the superblock week will have a block reward of 7 times the block reward at that time.
We again apologize for the inconvenience caused in updating your wallets again. Please do update, otherwise the hardfork will not be successful.
