Topic: [ANN][PIVX] - PRIVATE INSTANT VERIFIED TRANSACTION - PROOF OF STAKE - ZEROCOIN - page 506. (Read 782382 times)

Proposal #2
- Name: PoWRewardReduction2
- Variable PoW block reward reducing by 50 every 50k blocks (approx every 34 days)
- Coin Supply During PoW Phase: 39 800 000

Blocks 1 - 59 200:
POW reward: 250 DNET
Total supply: 14 800 000

Blocks 59 201 - 109 200:
POW reward: 200 DNET
Total supply: 24 800 000

Blocks 109 201 - 159 200
POW reward: 150 DNET
Total supply: 32 300 000

Blocks 159 201 - 209 200:
POW reward: 100 DNET
Total supply: 37 300 000

Blocks 209 201 - 259 200
POW reward: 50 DNET
Total supply: 39 800 000

To vote in favor = "mnbudget vote ce4d6c02169d85bd86eaf7fc545c639093a0ad95891f36d0e9ce90ecc7aabff4 yes"
To vote against = "mnbudget vote ce4d6c02169d85bd86eaf7fc545c639093a0ad95891f36d0e9ce90ecc7aabff4 no"
(use 'vote-many' instead of 'vote' to vote using all your MN at once via controller wallet)

Okay. To get the balls rolling for the reduced max coin supply and/or decreasing, here are the proposals that can be voted by masternode owners.
Thanks to kokokoin for providing a template to go by. So first proposal is what kokokoin proposed. Second is a less aggressive model for variety.

Both provide at least 2.5x or 3.5x the current coin supply (respectively) at end of PoW. So it still increases by a fair bit.
Still keeping 4 more months of PoW while generating less auto-sell pressure & lessen daily inflation during PoW phase.

Feel free to vote, provide feedback and/or make proposals of your own.
They are my first attempt at proposal creation. Was a good practice.

Proposal #1
- Name: PoWRewardReduction1
- Variable PoW block reward halving every 50k blocks (approx every 34 days)
- Coin Supply During PoW Phase: 26 518 750

Blocks 1 - 59 200:
POW reward: 250 DNET
Total supply: 14 800 000

Blocks 59 201 - 109 200:
POW reward: 125 DNET
Total supply: 21 050 000

Blocks 109 201 - 159 200
POW reward: 62.5 DNET
Total supply: 24 175 000

Blocks 159 201 - 209 200:
POW reward: 31.25 DNET
Total supply: 25 735 500

Blocks 209 201 - 259 200
POW reward: 15.625 DNET
Total supply: 26 518 750

To vote in favor = "mnbudget vote f6c17c059a6cc173d13f8a851b6408e1a2129d1ced040e46c7689a0a5a9bca42 yes"
To vote against = "mnbudget vote f6c17c059a6cc173d13f8a851b6408e1a2129d1ced040e46c7689a0a5a9bca42 no"
(use 'vote-many' instead of 'vote' to vote using all your MN at once via controller wallet)

Never set up a masternode before.  Will my coins be secure if I run MNs on a service like this?

"status" : "ENABLED"

Type "masternode list-conf" in console.

Ok cool, i have 3 up so hopefully will see something nice soon

i last question...

Number of connections 8 (In: 0 / Out: 8 )

Does this indicate my port closed for incoming? Or is this because they are new nodes?

After starting them for the first time, it could take 12 to 24 hours for first payments to come through.
Then it'll be more frequent and at a more steady rate depending on how many MN you have running.

lo guys,
i have set up 3 masternodes, "overall" : "Successfully started 3 masternodes, failed to start 0, total 3",

Im not seeing any rewards from running them though. How can i test they are working ok?
How often to rewards come in on average?

Now is block 44 444. Total coins supply is 11 111k + 60k premine (which will be destroyed).
Last block of POW is 259200, when supply will be 64 800k.
I suggest to cut POW rewards by half at block 59 200, then at blocks 109 200, 159 200, 209 200 (every 50k blocks or 34-35 days).

Blocks 1 - 59 200:
POW reward: 250 DNET
Total supply: 14 800 000

Blocks 59 201 - 109 200:
POW reward: 125 DNET
Total supply: 21 050 000

Blocks 109 201 - 159 200
POW reward: 62.5 DNET
Total supply: 24 175 000

Blocks 159 201 - 209 200:
POW reward: 31.25 DNET
Total supply: 25 735 500

Blocks 209 201 - 259 200
POW reward: 15.625 DNET
Total supply: 26 518 750

Maybe we can even start POS phase at block 209 200.

https://bitcointalksearch.org/topic/m.14012780

Devs - Maybe we should have "How to create MN proposals & vote" section on the OP?

Ok, now we have two opposing opinions. Only way to find which one is supported more is to vote.
I think we should vote in two rounds:
1. Community votes for decreasing of supply generally.
2. If majority says "yes" in first round we chose which specific plan of decreasing supply we want.

Our community is not so big right now so voting for 1 week per round is enough.

I'm not speaking english good enough to write all advantages of reward decreasing to make a post, which will be linked in proposal. I'm asking somebody to write this post. And i can't find info in this thread and on DASH forum how to make a proposal. Could anyone give link to this info?

Request for reducing of PoW block reward and/or max supply always comes up during PoW phase for so many coins when it starts to do well.
But reducing max coin supply doesn't miraculously make every coin be worth more without an increase in distribution and userbase.
Also, having some mining (including auto-sell) actually allows for a constant flow of new coin sales that new investors can buy.

Personally, I think reducing the block reward to reduce daily sell pressure is okay though but not compulsory. (e.g. maybe from 250 to 50)
Then just increase PoW period by same factor. So 50 million extra coins minted over the next 25 months not 5 months. (just an example)

I could not agree more!

I would also support a cut in supply although by reduction in PoW.

With another 49M coins to be distributed over the next 5 months is going to see the price of this coin at 200 sat.

By cutting the total to around 20M it would relieve the mining dumps and give this coin a chance to fly as it rightly deserves so.

By cutting the supply we all benefit.

"Competition between currency will ultimately guarantee decentralisation and its best for end users"
from comment thread by vbuterin on /r/btc
https://www.reddit.com/r/btc/comments/48gxbh/vitalik_buterin_on_twitter_cryptocurrency/d0jki4r

"we may see different cryptocurrencies choosing different points in political tradeoff space, including adjusting the governance model, consensus algorithm, money supply, fee policy, etc, and this may end up making consumers happier as their individual preferences can be better satisfied. If we want to maintain maximum network effects in this environment, then the best choice is to let the cities bloom separately and simply build fast planes and trains - ie. optimally efficient cross-chain transaction infrastructure such as btcrelay, shapeshift, etc."

see http://forums.prohashing.com/viewtopic.php?f=4&t=762 for further discussion

WTS several masternodes worth of coins, pm if interested.

Chinese OP translation：

https://bitcointalksearch.org/topic/annpivx-private-instant-verified-transaction-pos-20-zerocoin-prot-1384596

Number of your masternodes / masternode count * 1440 * 50

Current masternode count is 308. That's 233 coins per day per masternode. ROI is 43 days.

Is there a masternode calculator to estimate earnings?