Where is Dev? 
Last Active: 2015-12-04, 16:29:40
Topic: Should Boolberry implement a tail emission? - page 3. (Read 4121 times)
Where is Dev?
I like the idea of a tail emission but there is no reason that it needs to be exactly like Monero.
Boolberry could use a fixed percentage based annual tail emission instead of a fixed reward like Monero (which will gradually reduce on a percentage basis as the supple grows over time).
Boolberry could use a fixed percentage based annual tail emission instead of a fixed reward like Monero (which will gradually reduce on a percentage basis as the supple grows over time).
Putting the fixed reward vs percentage question aside do we think the tail emission should be more or less than what Monero chose? If the emission is too high we devalue the currency if it is too low the incentive for decentralized mining may be at risk. How do we find the right balance?
Is the only purpose of tail emission to encourage continued mining in a situation where transaction fees alone are not economically sufficient to do so?
People also make economic arguments about recirculating wealth. Note I am not making this argument, just reporting on it.
I expected the vote to be closer!
I am happy to see voting is in favor of adding a tail emission so far.
Is the only purpose of tail emission to encourage continued mining in a situation where transaction fees alone are not economically sufficient to do so?
I think that is the main idea but encouraging adoption among latecomers also might be easier with tail emission if it makes the currency distribution seem more fair. Continual dilution of all coins is the negative as scarcity is reduced.
Is the only purpose of tail emission to encourage continued mining in a situation where transaction fees alone are not economically sufficient to do so?
I like the idea of a tail emission but there is no reason that it needs to be exactly like Monero.
Boolberry could use a fixed percentage based annual tail emission instead of a fixed reward like Monero (which will gradually reduce on a percentage basis as the supple grows over time).
Boolberry could use a fixed percentage based annual tail emission instead of a fixed reward like Monero (which will gradually reduce on a percentage basis as the supple grows over time).
This is a discussion that has been postponed long enough. Hopefully the community reach a consensus on this question to remove future uncertainty.
I voted yes but look forward to an open debate with those who may disagree or are undecided.
I voted yes but look forward to an open debate with those who may disagree or are undecided.
Monero has a tail emission designed to protect against lack of incentives to secure the network.
Here is an excerpt from a good post explaining the reasoning for this:
At the time of the Monero hard fork in March (when they will switch from 60 second blocks to 120 second blocks like Boolberry has now) the tail emission schedule will be adjusted accordingly.
Aeon also appears to have plans to include a tail emission:
This is what the Monero tail emission will look like (offering continued incentives for miners to protect the network in addition to transaction fees).
Boolberry could implement something very similar although it will take us twice as long to reach the "tail" due to our slower emission schedule.
Here is an excerpt from a good post explaining the reasoning for this:
It at this point where we see the critical importance of a tail emission since if Rbase = 0 this attack has zero cost and the tragedy of the commons actually occurs. This is the critical difference between those Cryptonote coins that have a tail emission, and have solved the problem, such as Monero and those that do not, and will in a matter of time become vulnerable, such as Bytecoin.
[2] Initial number of atomic units is M = 264 - 1. However, once the block reward reaches 0.3 XMR (sometime in 2022) that is treated as the minimum subsidy, which means that Monero's total emission will forever increase by ~157783.68 XMR annually.
[3] Uses a recurrence relation. Block reward = (M - A) * 2-20 * 10-12, where A = current circulation. Roughly 86% mined in 4 years (see graph).
[3] Uses a recurrence relation. Block reward = (M - A) * 2-20 * 10-12, where A = current circulation. Roughly 86% mined in 4 years (see graph).
At the time of the Monero hard fork in March (when they will switch from 60 second blocks to 120 second blocks like Boolberry has now) the tail emission schedule will be adjusted accordingly.
Aeon also appears to have plans to include a tail emission:
Okay let's consider this an official proposal then, open for comments:
Quote
Once the base reward declines below 0.3/minute, then reward will switch to inflationary at a target rate of 0.8888888....%/year (actual rate may deviate slightly in practice due to variations in block rate, block reward penalty, rounding, etc.)
This is what the Monero tail emission will look like (offering continued incentives for miners to protect the network in addition to transaction fees).
Boolberry could implement something very similar although it will take us twice as long to reach the "tail" due to our slower emission schedule.
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