this is an important modification with a new reward:
"To make WAVES mining attractive, we suggest a reward of 6 WAVES for every generated block, which corresponds to target annual revenues of around ~5.3% (in WAVES) taking into account the possible increase of the generating balance".
but will the total number of waves be still stable, or increase with time ?
Yes total supply of WAVES will increase, This is very bad idea With fixed supply WAVES is losing value how about minting new coins? Why Shasha Ivanov need to listen to Trolls on telegram and twitter page! They are not part of WAVES community i bet they dont even holding 1 WAVES.
"Target annual revenues of around ~5.3%"
It's a fixed annual inflation rate if you don`t lease your waves to a node. You have no risks or disadvantages if you lease your waves.
With higher revenues, more people will join the waves community and if the growth of the community, caused by the higher revenues, is greater as the ~5% inflation rate then it's for everybody successful, even for people without the leasing feature. The possibility of a bull bubble will also increase because a lot of new investors could join the waves project, caused by the ~5% growth rate. And if you lease your waves to a node, you will get back the ~5%inflation rate caused by the leasing profits. I am pretty sure it's a great idea and it will strengthen the waves project.
This is a really good solution for this!!
https://forum.wavesplatform.com/t/wep-7-an-alternative-proposal-for-block-generation-reward/17013I dont think that this is a good idea. Unless you are staking, you will not benefit from a higher supply. Lets say someone stores their tokens on a Ledger and keep it long term as an investment. Now supply is increased through a higher stake reward. This means that the price per Waves will decrease as that is how crypto economics works. The person holding it on the Ledger, or any other wallet, will have their investment devalued. In order to maintain value, the person will have to stake their tokens to at least get more tokens.
The
article mentions
"The use of a Proof of Stake consensus algorithm leads to some WAVES being withheld from circulation in full nodes. Similarly, some tokens are withheld because of leasing, and with the arrival of sidechains yet more tokens will be locked up and removed from circulation." The introduction of higher rewards and increasing supply will therefore increase the problem with more people withholding tokens by locking them up in staking nodes to not devalue their holdings.
I cannot see any benefit with increase in rewards. it seems like a short term "solution" to increase interest in Waves in the short term. Why not rather wait until it becomes clear that there is a real problem. Currently the problem is only a perceived one as the writer of the article uses the words "
Ultimately, this may prove unsustainable". Why make this change on something that may happen. The only know issue that will materialize out of this is that the price of Waves is going to the gutters and the whale holders will increase their holdings even more as they will get the most of the increase rewards.
I would much rather prefer if the team ramps up adoption and usage so that circulating token supply becomes a real problem. There are way enough tokens already in supply. A shortage of token supply would in fact cause an increase in the price of Waves which would create much more interest in the token than getting more tokens in the short term.
Stake rewards mean less Waves on exchanges, less Waves on sell orders and that can help for price upward moves, and yes whale holders will increase their holdings more than anyone, but that also is not a bad idea, Waves whales not only hold waves you know, the more Waves they hold, the more price can go up, i remember one guy with around 5 millions waves when the price go up to .002, i think he sold all the way down. I had 50k Waves once, and sold years ago, now i want to start buiding my bag of lovely Waves again, Stake Rewards is safest than trading if you have faith in your coin.
But well lets see whats the next step of Sasha.
?
