Topic: ★★DigiByte|极特币★★[DGB]✔ Core v6.16.5.1 - DigiShield, DigiSpeed, Segwit - page 1571. (Read 3059029 times)

I understand why it is suggested, and in fact it would likely increase the value of DGB in the short term, but reducing the block reward flys in the face of what this coin is meant to represent.

Reducing the block reward in isolation, and thus reducing the total coins to be created, will turn DigiByte into yet another commodity coin.  I do not speak for the Dev team, or the community, in anyway; but it was my understanding that DigiByte was created in order to provide a transactional currency that could function as a general medium of exchange.  Reducing the block reward would cripple that endeavor in the interest of increasing profits for a few early-adopters.  It is bad form, bad business, and self-serving.  I hold a great deal of DigiBytes, and would benefit greatly from this choice, yet I believe that it is the wrong choice for the future of DGB.

The desire you are expressing is understandable, and even reasonable.  You are going about it in the wrong way, however.

As a coin progresses through it's life cycle the block reward is naturally reduced by reward halving.  It is built into the design of crypto-currency.

The desire you are expressing is not that the reward be reduced, but that the coin progresses through the stages of maturity sooner.  A 'mature' coin is through the initial inflationary period of rapid minting and therefore begins to deflate and value increases.

To change the reward without changing other fundamental specifications of the coin, would be irresponsible and essentially convert the coin into another coin entirely.  Your suggestion is not a bad suggestion, you are simply going about it in the wrong way.  The only way to achieve what you desire in a responsible manner is to speed up the rate of halving while at the same time changing other specifications such that the ultimate total coins minted does not change.  Framed in that manner, the idea becomes responsible, prudent, wise, and a great idea.

The thought had nothing to do with increasing resistance from Multipool attacks 
I just think more people would be interested in a coin with a little bit more immediate value, and decreasing the amount you gain from mining is one of the ways to make it more valuable at a quicker pace.

Also, thanks for the response on these thoughts Digibyte. We should probably have another forum poll about all of this, let the community decide and all of that. We are still young enough for changes like this. It's good to get these things worked out sooner than later, afterall.

We are asking about why people are suggesting it, so it is one of the issues I believe most of us know what kimoto does. It will be a super feature in digibyte

I feel the same about decreasing block reward its like doing a premine of the premine without fair giveaways and i think it will destroy its credibility in a short-term but the readjustment of its difficulty its a must like expressed by someone in a early post.

I agree, the block reward is not the issue here. The issue is protecting against multipools and large mining farms

I don't think coin supply specifications are immutable -> however, I think any changes that are made should primarily affect velocity, and not the resulting total coin supply when all is said and done.  And in this respect, which is surely counter-intuitive for short-term speculators, increasing velocity and the rate of minting is preferable to reducing velocity.  The quicker we get to the ultimate total coin supply, and thereby past the inflationary period, the better.  All coins have to go through this period, and it lasts quite some time, which is hard for many to wrap their heads around.  While coins are being minted at a rapid pace, inflation and thus market price decrease are a fact of life for ALL coins.  Mid-term trends seem to bear out this classical fact of economics even in the crypto-currency markets.  Speeding that process along, even at the cost of short-term market value (which will be impacted the same regardless, only over a longer period of time) is a wise choice, and could even be used to bring in new faces and interest in the endeavor.

I know it seems to be backwards, but that is how the economic principles apply to all crypto-currencies because of how they mint coins.  Remember, a lower market price is not a loss of value.  As long as you continue to mine the same proportion of new coins that are minted, your increase in coins will exactly match the loss of value due to inflation.

Not implementing a better re-targeting protocol will harm Digibyte, that is very clear to see. So far the answer seems to be Gravity well.

I agree. The block reward will self adjust over time where they half ever 2 years (on average)

Adjusting the difficulty retargeting is one thing but I think the block rewards should be left alone

I'd personally like that too, but it's not the right thing to do.


Yeah

Nobody feels, that changeing the coin supply specifications is way unfair, and not an acceptable method?

It wont, but i hope it would make my 900k digibytes worth a lot more... lol  

On a serious note, i think the gravity well is a must, many others have implemented it and have updated wallets.

I'm pretty sure martins meant faith...

Decreasing the block reward will make DGB more scarce and price will adjust to this. How will this help against multipools? Or am I missing somehting

Lets keep the votes rolling in to get DigiByte on AllCrypt: http://www.allcrypt.com/beta/voting.php

We are looking into these ideas. We are also looking more into the gravity well.

Generally a hard fork and block reward change could cause much confusion among new users. Especially when a mandatory update is required.

I'm up for a decrease in block rewards. Maybe 2000 or less a block?
Increasing the difficulty of obtaining DGB would certainly increase it's value. I think it would be better that way.
Also, everyone seems to want Kimoto Gravity Well, so I don't see why not. I need to look up on what exactly it does, but it seems like it makes it easier to recover from multipool attacks somehow.

Leafcoin have just implement Gravity 3

From the OP.

" UPDATES - GRAVITY FIX - 3 ( YOU NEED TO UPDATE NOW! )

If you have an issue syncing... please delete peers.dat and restart wallet

We finally have a fix for those multipool attacks. I like to call them attacks since they do harm to this coin. We have implemented Kimoto Gravity Well in the source.
Be sure that you update BEFORE block 29300 21203 18818. Which ETA is +/- 1-2 days. The mac os wallet has not been updated yet, so are the debian ones not updated yet.
Windows and github already updated. "

I have to disagree, we are not bound by our own fate, you make your own choices in life. In the spiritual sense, if you believe in that, maybe it could all be pre-determined, but we'll never know. We just have the tools we were given in life, our mind and body - the capability to be self conscious and perceive a reality. What makes a good business man is seizing the right opportunities at the right time. Timing and decision making.

Edit: and No I do not possess the ability to program websites as the ones I described, only design them. If someone that knows how to program wants to create these with me for DigiByte then I'm all for it. Until then, I will just leave it as an idea for the Devs to sponge up.

if you know how to use the tools you might use it becouse we trust in Digibyte sooner or later we'll improve this coin even more, i myself made my fate becouse i'm a miner since 2009 when BTC was first released but the idea behind it was uncomensurable to the closed mind! that's what make a good business man... FATE!