So with the PoG change, will the new values for max_tithe be 10-1 (descending) and the min_coin_age stay 0-60 and min_coin_amount stay 1-12500?
If so, then to achieve median difficulty would take 5000 tithes a day, but those users would have to have a combined "stake" of 62.5M BBP that was 30 days old, meaning to sustain that level (just median) would take more coins than currently exist (1.875B). And at that level, tithers would see a return of approximately 16 BBP for each 5 BBP tithe. Since the level of difficulty would have to be lower, you're looking at a much much higher reward in practice which becomes very troubling as, again, it would be no net cost - no risk and have no psychological floor (whereas someone generating coins that cost them 1 cent per 100 to make, has a reason to not sell for less that 1/100th of a cent).
If the min_coin_age and min_coin_amount decrease, then it diminishes the impact of decreasing the max_tithe.
I make no bones about being a PoDC supporter, but PoG is not a system that brings much benefit when I look at it objectively. No risk mining means no real price floor. When coin age exceeds a few weeks, it reduces the ease of entry for new users, but without it, the whales would rule the system. It has the potential to be very inconsistent with both rewards and how often a user can tithe, both of which make getting new users difficult. It doesn't sufficiently constrain supply...unlike Proof of Burn which eliminates coins from the economy, or Proof of Stake which typically locks coins in for longer terms for rewards. PoG adds network traffic that we can sustain for now, but when you compare to our theoretical maximum transaction limit (which I've ballparked before and don't have the numbers in front of me), 5000 additional transactions a day could start to have an impact. In short, even though I feel PoG would benefit me personally, I don't see it being beneficial for the coin at large.
I ask with all due respect, that when the PoDC vote occurs, one option is to eliminate PoG. I also request that the community at large be heard and to that end would ask for a commitment from Rob to not vote more than a handful of the Sanctuaries under his control.
1) No; the new values are 10 max_tithe descending yes, but coin_age starts at .25 a day minimum - 60 ascending, and the min_coin_amount stays the same.
2) On the median difficulty and 'much higher reward' in practice; no, everyone works with a relative share weight which is related to their applicable coin count from #1, and the tithe cap remains the same and the max reward per day (90k) remains the same, so no this is not true, actually I dont even follow the logic here. Once coin age is spent, the newbie who waited 7 days to stake that coin has to wait until the coin age matures again to get back in the pool, so there is no additional reward in phase 2 compared to phase 1. What we do see is more participants in the pool and lower average difficulty for everyone.
3) If the 'no risk-no price floor' were true then a coin like PIVX would be worthless. Obviously people value each share of their crypto with more facets than electricity as an inputs. I listed some of them 50 pages back: future price target, innovation, expectation of dash to have more success, expectation that our devs are good, central bank expectations, many things go into pricing each share other than electricity. So you might be right about going from 7 satoshi floor to 6, but even that is laughable because Im not holding BBP to appreciate from 7 satoshi to 8 because of electric. Its laughable. Were holding biblepay because we know biblepay is deflationary, will provide real world value in the future and we believe in the devs and the technology that is entering the project. We know that some day Rob and MIP are going to succeed in the killer feature and biblepay will be in the top 100 list. At the same time the Christians will catch on and out of 1 billion, we see a certain sliver that likes crypto. Thats the expectation. Not a measly 10% increase in electric cost over 10 years
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4) If you are concerned about the PODC vote level I recommend you buy enough bbp to have more sanctuary count than me. Obviously every one who buys a sanctuary has the right to vote with it the way they please. It would be foolish not to use that right. On a side note, I still believe in POG and think PODC is too complicated for the average Christian. In addition I think adding in PODC is not completely aligned with our vision (of having a high percentage of believers who contribute in development to this coin).
