Reverse coin-split is too risky. @dogedarkdev has decided in any case that won't happen. IMO a better idea is to modulate the block rewards going forward, to better match demand for the coin.
Basic economics dictate that when there is an over-supply, there will be a reduction in unit price. ¿How can the coin network sense demand? Very simple. Hashrate on the network is strongly correlated with demand. The higher the hashrate, the higher demand there is for the coin.
So, scan the blockchain back a certain amount of time (or a certain number of blocks) and determine what the peak hash rate the network has experienced is. This will require averaging the hashrate over a certain size "sliding window" of 'x' blocks. Then determine the current hashrate (over the last 'x' blocks) take the ratio current_hashrate / peak_hashrate, and multiply the block reward by this number.
This way, if the current hashrate is 1/2 of what the peak is, the block reward will be 1/2 of the theoretical maximum. The result is that less new coins are available for the market; only if hashrate reaches peak value, then reward reaches peak value. Nothing else is changed: in the end, total emission will be the same, but it might be slowed down getting there.
yeah, but scarcity isnt an issue. we're 80%+ thru our distribution phase, and accessibility to the coin is what we aim for, second to privacy. we don't want to pull some dramatic move to increase the price through reduction of supply.
Well, this kind of modulation doesn't change anything at all *if* the hashrate stays high and/or keeps going up, so I don't think of it as being too dramatic... as say, a reverse coin split or a reduction in the total emission target.
Total emission target never changes, and it only reduces block reward, but proportionately, gradually and temporarily, if there is a reduction in hashrate. I think of it as paying the miners for how hard they are working. Its effect is to maybe stretch out the distribution phase a bit and, at any given time, better match instantaneous demand to coin emission.
It could also be tempered by setting an absolute minimum reward and/or a maximum step-down to make it even gentler.
Sometimes when you show people it's a double edge sword they stop and think about it a little more.