★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit - page 1541.

incorrect

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Quote from: sammy007 on February 18, 2014, 12:03:27 AM

Reduce reward, coinwarz killing this coin.

No need to be so negative. I believe I've asked you about this before and a few others agreed. The way I see it this is it shows a lot about the community and devs if it can still succeed after a few rough times.

Bluestreet

legendary

Activity: 988

Merit: 1000

You guys have 2 issues.

1. mBTC is going to become the standard soon.
2. Dropping to 80 coins per block is going to be worse then coins with a 5% premine. You will have a 100 users with millions of coins and the rest will be beggars.

MMos

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So I just sold everything and have 0.16BTC left to buy DGB with, what price should I be setting the buy order in for?

creativecuriosity

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DGB.Get-By.com Admin

Quote from: sammy007 on February 18, 2014, 12:03:27 AM

Reduce reward, coinwarz killing this coin.

Update is on the way from the Devs. The path has been charted, Sammy. I don't agree 100%, but the block reward will indeed be reduced, by about half over the same time period if my math serves me.

creativecuriosity

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Quote from: mintzone on February 18, 2014, 12:01:39 AM

Quote from: HollowStorm on February 17, 2014, 11:58:31 PM

What if we were to remove the total coin cap and allow subsequent blocks after the 20/19.5th year point to give 160 coins per block as an inflationary/replace-lostcoins/stablising reward??
if not 160, maybe 80 coins per block after that point?

This is just to counter the deflationary model that the majority of cryptocoins out there have. Its got more advantages than disadvantages i believe..

Or should this idea only be considered after significantly growing?

DigiByte is supposed to be the currency for merchants and transactions, right?
I think treating it like a currency, and replacing lost dgb or adding more as the market needs them makes sense.
This isn't gold or silver, this isn't Bitcoin or Litecoin.

A reasonably economically sound idea. One of the redeeming values of the otherwise silly Proof-Of-Stake coins.

A currency (read not commodity) should be flexible and inflationary; but only inflationary EXACTLY to the degree to which the market (read population) grows and the currency is taken out, or lost from, circulation.

sammy007

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Activity: 1904

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Reduce reward, coinwarz killing this coin.

mintzone

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Activity: 285

Merit: 250

Quote from: HollowStorm on February 17, 2014, 11:58:31 PM

What if we were to remove the total coin cap and allow subsequent blocks after the 20/19.5th year point to give 160 coins per block as an inflationary/replace-lostcoins/stablising reward??
if not 160, maybe 80 coins per block after that point?

This is just to counter the deflationary model that the majority of cryptocoins out there have. Its got more advantages than disadvantages i believe..

Or should this idea only be considered after significantly growing?

DigiByte is supposed to be the currency for merchants and transactions, right?
I think treating it like a currency, and replacing lost dgb or adding more as the market needs them makes sense.
This isn't gold or silver, this isn't Bitcoin or Litecoin.

HollowStorm

member

Activity: 70

Merit: 10

What if we were to remove the total coin cap and allow subsequent blocks after the 20/19.5th year point to give 160 coins per block as an inflationary/replace-lostcoins/stablising reward??
if not 160, maybe 80 coins per block after that point?

This is just to counter the deflationary model that the majority of cryptocoins out there have. Its got more advantages than disadvantages i believe..

Or should this idea only be considered after significantly growing?

DigiByte

legendary

Activity: 1722

Merit: 1051

Official DigiByte Account

Make sure to follow DigiByte on Twitter and like us on Facebook!

Twitter: https://twitter.com/DigiByteCoin

Facebook: https://www.facebook.com/digibytecoin

ChasingTheDream

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Activity: 292

Merit: 250

Quote from: DigiByte on February 17, 2014, 10:24:14 PM

Quote from: ChasingTheDream on February 17, 2014, 10:13:28 PM

Quote from: DigiByte on February 17, 2014, 09:58:46 PM

So just to clarify, we would like to reduce the block reward 0.5% every week (ever 7 days or 10107 blocks). We would start this at the current 8000 DGB block reward 1 week after updating the DGB wallet.

This will benefit everyone as DigiBytes will become hard to to mine each and every week.

I like the idea.

What is your DGB address? You are the luck one that made the 1st post on page #300!

Got it! Thanks again!

Gazza1

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Quote from: DigiByte on February 17, 2014, 09:58:46 PM

So just to clarify, we would like to reduce the block reward 0.5% every week (ever 7 days or 10107 blocks). We would start this at the current 8000 DGB block reward 1 week after updating the DGB wallet.

This will benefit everyone as DigiBytes will become hard to to mine each and every week.

I think this is a great idea! Grin

Very smooth way of going about it too.

ChasingTheDream

sr. member

Activity: 292

Merit: 250

Quote from: DigiByte on February 17, 2014, 10:24:14 PM

Quote from: ChasingTheDream on February 17, 2014, 10:13:28 PM

Quote from: DigiByte on February 17, 2014, 09:58:46 PM

So just to clarify, we would like to reduce the block reward 0.5% every week (ever 7 days or 10107 blocks). We would start this at the current 8000 DGB block reward 1 week after updating the DGB wallet.

This will benefit everyone as DigiBytes will become hard to to mine each and every week.

I like the idea.

What is your DGB address? You are the luck one that made the 1st post on page #300!

Woot! D7wHGbksgLwWVDnQFtwVEk3ph2B9qVdbCM Grin

Thanks!

DigiByte

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Official DigiByte Account

Quote from: ChasingTheDream on February 17, 2014, 10:13:28 PM

Quote from: DigiByte on February 17, 2014, 09:58:46 PM

So just to clarify, we would like to reduce the block reward 0.5% every week (ever 7 days or 10107 blocks). We would start this at the current 8000 DGB block reward 1 week after updating the DGB wallet.

This will benefit everyone as DigiBytes will become hard to to mine each and every week.

I like the idea.

What is your DGB address? You are the luck one that made the 1st post on page #300!

mintzone

sr. member

Activity: 285

Merit: 250

Quote from: ChasingTheDream on February 17, 2014, 10:13:28 PM

Quote from: DigiByte on February 17, 2014, 09:58:46 PM

So just to clarify, we would like to reduce the block reward 0.5% every week (ever 7 days or 10107 blocks). We would start this at the current 8000 DGB block reward 1 week after updating the DGB wallet.

This will benefit everyone as DigiBytes will become hard to to mine each and every week.

I like the idea.

You're not the only one who likes it.

ChasingTheDream

sr. member

Activity: 292

Merit: 250

Quote from: DigiByte on February 17, 2014, 09:58:46 PM

So just to clarify, we would like to reduce the block reward 0.5% every week (ever 7 days or 10107 blocks). We would start this at the current 8000 DGB block reward 1 week after updating the DGB wallet.

This will benefit everyone as DigiBytes will become hard to to mine each and every week.

I like the idea.

DigiByte

legendary

Activity: 1722

Merit: 1051

Official DigiByte Account

We are having a discussion on IRC about the block reward and DigiByte updates if anyone would like to join in! http://webchat.freenode.net/?channels=#digibytecoin

DigiByte

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Official DigiByte Account

So just to clarify, we would like to reduce the block reward 0.5% every week (ever 7 days or 10107 blocks). We would start this at the current 8000 DGB block reward 1 week after updating the DGB wallet.

This will benefit everyone as DigiBytes will become hard to to mine each and every week.

DigiByte

legendary

Activity: 1722

Merit: 1051

Official DigiByte Account

After running through several equations with the options we listed it appears that a block reward reduction of about 0.5% every week is the sweet spot. Actual numbers varied from .3% - .5%. We think 0.5% will be much easier to explain to people for marketing purposes.

0.4 % is about 20 years time.

This is a 26% reduction every year.

Gazza1

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Activity: 238

Merit: 100

Quote from: DigiByte on February 17, 2014, 08:41:39 PM

Yes, everyone would benefit here. This would lead to a slow gradual rise as DigiBytes would become just a little bit harder to come by each week. We are just working on the optimum weekly percentage decrease calculations.

This sounds very interesting and exciting. Cheesy

DigiByte

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Activity: 1722

Merit: 1051

Official DigiByte Account

Quote from: xazure on February 17, 2014, 08:31:39 PM

Quote

Reduce the block reward by a certain percentage each week for either; 10, 15, or 20 years

This is not faire for who want to mine DGB now... The oringinal is good enough.

Quote

Then 8,000 DGB Per Block, Reward Halves Every 2 Years

And one more question: The Network Hashrate is : 1,949.19 MH/s . I count all pool hashrate from the pools published on http://www.digibyte.co/, and the result is ~600 MH/s.

So my question is: Is there any private pool which has big Hashrate? And the private pool's hashrate is over 51%.....

This would be more fair to miners. They would have more coins to mine over the next 5 years. Secondly, each week the coins they mined the week before would be slightly more valuable at a predictable rate.

We are not aware of any private pools that have that much hash mining DGB. It is most likely a multi-pool.

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