There has been some debate lately about the reward structure vs the early adopter advantage. To be clear, Darkcoin was pre-announced so all of the miners shared in the early mining. There were some issues with the block reward in the beginning, but it was still fair. We don’t have a huge percentage of the coins in existence like some users have purposed. In fact, we gave away nearly 80,000 coins in the first week.
Originally we thought scarce was good, but the halving was added to the code later and was an obvious mistake, it doesn’t work well with the formulas we’re using to implement the mining reward structure.
I’ve been doing the math this morning and Darkcoin doesn’t need a halving structure at all. So I’m removing it:
https://github.com/evan82/darkcoin/commit/819ccd71cab84c3728d457b16d2679486f917394
The formula 2222222/(((Difficulty+2600)/9)^2) is actually well defined to handle lowering the reward steadily over a long period of time. It caps out about 5000 difficulty, if this isn’t high enough or slow enough we can revisit this later.
This change will put us way closer to the 84,000,000 coin maximum that we originally wanted. The maximum rewards per year will be 5.2M per year (25 every 2.5 minutes) and eventually only release 1.0M per year (5 every 2.5 minutes).
Thanks for the input and support I'll support this structure. When I realized that we'd only be creating about 10 mil coins, I thought that was way too tight. Bitcoin at 21 mil has most of it's transactions in satochis, and it's a pain. This will also cause the coin's transactions to be in the decimal places, but not as far down (it's hard to think backwards when it comes to money!) I'm sure those of us that have problems with it, and constantly need a calculator, will learn in time, LOL, but now there is more wiggle room.
To be sure, the changes only effect the way the coin is handled in the future (no longer halved) and should have only the most minimal of effect if any at the present. If it's effecting the market right now, it's because people don't understand. I just wish I had money or bitcoins to stock up on coins, but that's life, LOL.
I'm in it for the very long haul, talking 2-3 years in the future. I don't care what people think now, I think I know what is going to happen with this coin, and I'm enjoying the ride, ups and downs
At least the downs are spreading the future wealth, and this is good!
BTW, I took the few dollars I could scrounge up last week and bought at 0.002 but I'm not sweating the small stuff, I knew perfectly well, that that could be the high for a while.... or not?? turns out it was, oh well!
