Some points about Quark's revolutionary simple EQ reward:
Equilibrium Reward
just means that there is a fixed number of units released PA; in this case 1 Quark per block per year, block times are 30 seconds, this accounts for about 1 million per year.
- this is a 0.5% inflation of the Quark base of Crypto supply
- but because this reward is fixed the 0.5% is a declining number as the 245~ million steadily grows.
- a "reward" is what a individual receives when a block is solved thus keeping the network functioning.
- As Quarks base is already predominantly distributed, (one of the only of its kind) this in effect allows for Economic certainties to be gauged better and for more traditional economic models to work.
- Because of the divisible nature of Crypto this "fixed" supply of a declining .05% is quite viable and time may show to be the superior model.
-- another quirk is that because the reward is new currency this allows Quark to be in most cases fee free, a very interesting concept no?
-- also the new currency also means that new participants help bootstrap the Quark network and keep it from falling into destructive monopoly.
It is in effect an adapted version of the k-percent rule, to allow for the divisible nature of crypto currecy.
Topic: The EQ Reward is Crypto version of Friedman's k-percent rule (Read 605 times)
And I for one am proud to honor the man.
In Max and the Quark devs being one of the first to make it widely available to compete in the field of many economic designs - I believe in Friedman's theories and i believe in their simplistic superiority.
Because "economics" at its core, was never meant to be any more complex than human emotions.
To learn about Milton Friedman's k-percent rule
http://en.wikipedia.org/wiki/Friedman%27s_k-percent_rule
To learn about the EQ reward ask me here on this topic - :
but here are some Quotes from the link:
----------------------
"According to Friedman, "The stock of money [should be] increased at a fixed rate year-in and year-out without any variation in the rate of increase to meet cyclical needs" (Friedman, 1960). Friedman was of the view that the main policy to be avoided is countercyclical monetary policy, the standard Keynesian policy recommendation at the time. He believed giving governments any flexibility in setting money growth would lead to inflation and therefore, the central bank should follow a procyclical monetary policy and expand the money supply at a constant rate, equivalent to the rate of growth of real GDP."
----------------------
"Under this rule, there would be no leeway for the central reserve bank as money supply increases could be determined "by a computer" and business could anticipate all monetary policy decisions."
-------end quotes---------------
Crypto currency has allowed that "computer" to be decentralized this was done by the good coding of team Satoshi - all it was missing was the K-percent rule - which is the EQ reward.
thus we give you Quark Crypto currency.
In Max and the Quark devs being one of the first to make it widely available to compete in the field of many economic designs - I believe in Friedman's theories and i believe in their simplistic superiority.
Because "economics" at its core, was never meant to be any more complex than human emotions.
To learn about Milton Friedman's k-percent rule
http://en.wikipedia.org/wiki/Friedman%27s_k-percent_rule
To learn about the EQ reward ask me here on this topic - :
but here are some Quotes from the link:
----------------------
"According to Friedman, "The stock of money [should be] increased at a fixed rate year-in and year-out without any variation in the rate of increase to meet cyclical needs" (Friedman, 1960). Friedman was of the view that the main policy to be avoided is countercyclical monetary policy, the standard Keynesian policy recommendation at the time. He believed giving governments any flexibility in setting money growth would lead to inflation and therefore, the central bank should follow a procyclical monetary policy and expand the money supply at a constant rate, equivalent to the rate of growth of real GDP."
----------------------
"Under this rule, there would be no leeway for the central reserve bank as money supply increases could be determined "by a computer" and business could anticipate all monetary policy decisions."
-------end quotes---------------
Crypto currency has allowed that "computer" to be decentralized this was done by the good coding of team Satoshi - all it was missing was the K-percent rule - which is the EQ reward.
thus we give you Quark Crypto currency.
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