Ok, I probably wouldn't be "offended" (if I can use that word) by a mere smoothing of the reward schedule, it that's all you're planning. As long as you don't increase the total supply that'd probably be acceptable to most.
Let me add that I in no way claim to have any say in these matters, just that I would love to know well enough in advance so I can reevaluate my involvement.
Of course I would be more than happy to take part in discussion about such issues.
Just one comment right now: If you want to smooth out the reward adjustments you would probably have to start decreasing it earlier. If you start at block 420,000 and you want to do less than halfing, that would amount to an increase in "mining speed": more coins would be produced per time unit than originally planned. You could start reduction earlier, at block 315,000 for example, and reduce more often (to achieve smoother reduction) and thus avoid the problem of paying out block rewards earlier than planned.
Let me add that I in no way claim to have any say in these matters, just that I would love to know well enough in advance so I can reevaluate my involvement.
Of course I would be more than happy to take part in discussion about such issues.
Just one comment right now: If you want to smooth out the reward adjustments you would probably have to start decreasing it earlier. If you start at block 420,000 and you want to do less than halfing, that would amount to an increase in "mining speed": more coins would be produced per time unit than originally planned. You could start reduction earlier, at block 315,000 for example, and reduce more often (to achieve smoother reduction) and thus avoid the problem of paying out block rewards earlier than planned.
A smoothing is all I am proposing. Some members of the team think it should remain as a rigid halving schedule, so there is a lot of discussion to be had before we reach any kind of decision. In no way, shape, or form am I talking about a change in total supply. We'd love to hear everyone's thoughts on block halving schedules.
In my mind, the rewards would halve over the same timeframe, but with a cumulative percentage decrease over time so that there weren't "hard" halvings. I've seen quite a few coins that do this successfully, and in the long run, it keeps the price relatively stable over time. Bitcoin will halve this summer, and it will be a good demonstration of how a hard halving makes things a little crazy for a daily use coin. There are a lot of articles related out right now that are warning against the effects of the halving this summer. Not that it can be avoided, but it's going to be disruptive.
I think the more secure and smooth we can make the AUR blockchain, the better. Part of that is trying to keep the price from going crazy with daily fluctuations, or even 100-500% increases due to halving.
-Fuse
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