So 99.9902% of all coins have been mined... I didn't realize the urgency of your PoS announcement, I suppose it will be implemented within months. Yes I see now, only $0.35 generated per day.
What I want to stress is that it is not necessary to redistribute the same amount that was burned, that was an arbitrary number. Even the pre-burn total coinage seems like an arbitrary artifact of the X11 switch. The original figure was 420,000,000, now after multiple lumps in the path, you feel that it is important to return to 105,861,000. Don't just patch in a scheme for 3 years of distribution to an arbitrary number...
You could do 100,000,000 total (~8,000,000 more) over 100 years (average of 80,000/year or about double current rate.).
Or 420,000,000 total to be fully staked in 420 years.
Something that ensures network stability long-term but also rewards individuals now who remove their coins from Bittrex and run a node. Might as well reduce the risk of going through another fork in 3 years.
Hi again
natmccoyWe are indeed in the long tail of PoW distribution, at halving 13 of a possible 25 before the hard-coded dust limit eliminates subsidy altogether.
Initially of course it was hoped that we could establish an active distribution system by about this stage and that network fees would then become more important than mining subsidy. Sadly politicians and bureaucrats are less enthusiastic than we are and every step takes longer than it need or should.
With regard to the arbitrary total supply that is a request of correspondents who claim to be significant holders of CannabisCoin stakes (untested but they do appear to have legitimate concerns). Subsequent to these requests I have contacted other supporters known to have been enthusiastic miners and/or buyers of CannabisCoin for their opinions. The stated preference is a restoration of total supply to that declared at the time most began mining or buying and there is no obvious reason we need do otherwise.
You are quite correct, we could do virtually anything and 420,000,000 over 420 years has an appealing symmetry
Recent experience suggests however that quite a percentage of investor stakeholders would view that as a significant dilution of their held stakes, regardless of the timescale involved.
At this stage the favored option is another 7 years of distribution at 2% subsidizing network fees to encourage staking. If at the end of this period network fees are insufficient then we'll definitely need to rethink things.