Topic: [XMR] Monero Speculation - page 1955. (Read 3314330 times)

Quote from: smooth on April 12, 2015, 06:45:23 PM

Yes. that's what it means, unless the block time target is changed higher or lower than one minute, in which case all rewards including that one will be scaled accordingly. That is the base reward, but there will still be penalties for having blocks that are >median so the actual reward may be lower (in fact this is one of several reasons it is necessary to have a maintenance reward).

I really like Monero blocks being 1 min, I dont understand what it means negatively for mining but for the end user it means its fast! That being said I would not care if it was changed to a more "optimal" 2 or 3 min (with emission accordingly).

Well you'd like lower right? If the state of technology gets there, lower might be a feasible optimum. In the current structure it really isn't, just something thankful_for_today did against the objections of everyone.

eizh: there are some ways that two one-minute confirmations are worth more than one two-minute confirmation, but it's not terrible significant when the overall hash rate is fairly low and especially once it is low enough for latancy to be significant. Discussed by Meni Rosenfeld here: https://bitcointalksearch.org/topic/m.2781832

eizh

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Quote from: smooth on April 12, 2015, 06:45:23 PM

I really like Monero blocks being 1 min, I dont understand what it means negatively for mining but for the end user it means its fast! That being said I would not care if it was changed to a more "optimal" 2 or 3 min (with emission accordingly).

The perceived speed is just psychological since a 1 minute confirmation is worth half as much as a 2 minute confirmation for establishing consensus.

ArticMine

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Monero Core Team

Quote from: xa4 on April 12, 2015, 06:38:12 PM

Quote from: smooth on April 12, 2015, 06:34:35 PM

When - what date or what blockheight - would the tail emission kick in ?

It is hard to know the exact date/block because it depends on penalties. Each block's reward is a function of the actual number of coins created so far.

It will kick in whenever the reward according to the formula would be less than 0.3 XMR (approx 0.9% annually), which is expected some time around year 8.

Why 0.9%?

Edit: I guess what I'm asking is, what is the actual formula for the tail emission, the resultant inflation year over year and why was that amount chosen?

The formula is "0.3"

The amount was chosen based on being a round number within and close to the <1% inflation maintenance reward specified in the ANN OP.

Quote from: xa4 on April 12, 2015, 06:38:12 PM

I found this on github

Code:

+#define FINAL_SUBSIDY_PER_MINUTE ((uint64_t)300000000000) // 3 * pow(10, 11)

Does this mean a constant block reward = 0.3XMR ?

Yes. that's what it means, unless the block time target is changed higher or lower than one minute, in which case all rewards including that one will be scaled accordingly. That is the base reward, but there will still be penalties for having blocks that are >median so the actual reward may be lower (in fact this is one of several reasons it is necessary to have a maintenance reward).

So the tail emission is now defined in the code and protected by the proof of work. I was concerned about this but alas no more concern. Excellent!!

smooth

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Quote from: smooth on April 12, 2015, 06:34:35 PM

When - what date or what blockheight - would the tail emission kick in ?

It is hard to know the exact date/block because it depends on penalties. Each block's reward is a function of the actual number of coins created so far.

It will kick in whenever the reward according to the formula would be less than 0.3 XMR (approx 0.9% annually), which is expected some time around year 8.

Why 0.9%?

Edit: I guess what I'm asking is, what is the actual formula for the tail emission, the resultant inflation year over year and why was that amount chosen?

The formula is "0.3"

The amount was chosen based on being a round number within and close to the <1% inflation maintenance reward specified in the ANN OP.

Quote from: smooth on April 12, 2015, 06:34:35 PM

I found this on github

Code:

+#define FINAL_SUBSIDY_PER_MINUTE ((uint64_t)300000000000) // 3 * pow(10, 11)

Does this mean a constant block reward = 0.3XMR ?

Yes. that's what it means, unless the block time target is changed higher or lower than one minute, in which case all rewards including that one will be scaled accordingly. That is the base reward, but there will still be penalties for having blocks that are >median so the actual reward may be lower (in fact this is one of several reasons it is necessary to have a maintenance reward).

xa4

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When - what date or what blockheight - would the tail emission kick in ?

It is hard to know the exact date/block because it depends on penalties. Each block's reward is a function of the actual number of coins created so far.

It will kick in whenever the reward according to the formula would be less than 0.3 XMR (approx 0.9% annually), which is expected some time around year 8.

Why 0.9%?

Edit: I guess what I'm asking is, what is the actual formula for the tail emission, the resultant inflation year over year and why was that amount chosen?

The formula is "0.3"

The amount was chosen based on being a round number within and close to the <1% inflation maintenance reward specified in the ANN OP.

I found this on github

Code:

+#define FINAL_SUBSIDY_PER_MINUTE ((uint64_t)300000000000) // 3 * pow(10, 11)

Does this mean a constant block reward = 0.3XMR ?

smooth

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Activity: 2968

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When - what date or what blockheight - would the tail emission kick in ?

It is hard to know the exact date/block because it depends on penalties. Each block's reward is a function of the actual number of coins created so far.

It will kick in whenever the reward according to the formula would be less than 0.3 XMR (approx 0.9% annually), which is expected some time around year 8.

Why 0.9%?

Edit: I guess what I'm asking is, what is the actual formula for the tail emission, the resultant inflation year over year and why was that amount chosen?

The formula is "0.3"

The amount was chosen based on being a round number within and close to the <1% inflation maintenance reward specified in the ANN OP.

Johnny Mnemonic

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When - what date or what blockheight - would the tail emission kick in ?

It is hard to know the exact date/block because it depends on penalties. Each block's reward is a function of the actual number of coins created so far.

It will kick in whenever the reward according to the formula would be less than 0.3 XMR (approx 0.9% annually), which is expected some time around year 8.

Why 0.9%?

Edit: I guess what I'm asking is, what is the actual formula for the tail emission, the resultant inflation year over year and why was that amount chosen?

Check out the economy thread from Monero's early days to see discussion regarding tail emission: https://bitcointalk.org/index.php?topic=597878.80

smooth

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