Bitcoin Forum

Basically, around 20,000 Vertcoins are being mined everyday, it's extremely extremely inflationary and the price has been suffering horribly. A lot of those mined Vertcoins are being dumped on exchanges,

For ex: The price dropped over 80% in less than 1 week since the Stealth Address update.....

So my question is, Should the block reward be lowered drastically, or no?

i like pie

so you want to pull a block reward reduction scam and have the devs act as central bankers?

then I say no.

*cough cough* barkcoin *cough cough*

but seriously, if the block reward isnt changed, vertcoin is dead. Its price has been dropping faster than a 999 ton stone.

There are other ways to deal with the multipools than to drop the block reward.  Dropping the block reward means the multipools get less coins, but they'll still be on mining vert.  A better solution would be to make the block reward fluctuate based on how long the miner has been mining on the block chain.  Waffle or multipool hop on to mine, new miner detected, they get 20 blocks before dropping off but because they havn't mined before the 20 blocks, they have a delayed payout/ penalty that if they stayed on, would average out until they got the full payout but only if they stayed mining.  They drop off, they lose the rest of the block reward goes to vertcoin developers,charities, divied up among the other miners on the network.

i was wondering from the start why they were not halving

Lower the block reward is not the solution (at least not permanently)  It should be:
- Coin the multipool resistant (huge sales of mining on multipools dramatically droped the price). Constructive solution is proposed Spiffy_1
- An energy more efficient algorithm,if it is possible (litecoin miners went  on X11 coins (particularly energy efficient X11). Also, some miners are therefore left nscrypt.
- Better advertising.