Update of ELACOIN reward?
the main attraction and idea behind this coin is a proportional block reward to diff, but it's chunked off at 24 difficulty. we may or may not make it to that point.
to make it more attractive, i suggest we move up to unitary reward with difficulty. 1 diff = 1 coin (now). 2 diff = 2 coins. (rounded down).
Hmm, this is a case of miners voting to increase rewards to themselves, by a rather significant amount. I suppose you're free to do what you want to, as is the population still bothering mining the coin. But if a little bit of something (like inflation) is good for a coin, then a lot of something must be even better, right? Why stop at increasing the reward only by this amount? I bet even more of the miners would be behind the idea of increasing inflation even further than your proposal. It won't be particularly great for actual use of the currency for any real transactional purpose though, but I suspect that's not really what's on anyone's mind as the future of Elacoin, if you guys are already pushing to jack up the rate of inflation by an extraordinary amount?
How about this as an even better (for late adopter miners) proposal, taking the idea of increasing your own mining rewards and rate of inflation even further:
Reward = 10^(((int)diff)-1)
Diff 1 = 1 coin (now)
Diff 2 = 10 coins
Diff 3 = 100 coins
Diff 4 = 1000 coins
etc..
we'd have to AGAIN repost code for this, and coordinate a blockchain fork.
Oy... Another case where anyone that doesn't believe changes should be made is effectively kicked off your "new and improved" blockchain by not adopting the changed client code, enforced through collusion with pool owners to effectively 51% anyone "not going along with the plan"?
I think that in such case the inflation would be too high... What happens if it reaches the former feathercoin difficulty? 10^(187) coins per block look a bit too much for me.
What if you keep the actual inflation rate of 1 coin per 24 points of difficulty, but split the increase for each difficulty change? So it is like the actual expression WITHOUT the rounding to integer:
Diff 1 = 1 coin
Diff 2 = 1 + 1/23 coin
Diff 3 = 1 + 2/23 coin
Diff 4 = 1 + 3/23 coin
...
Diff 24 = 1 + 23/23 coin = 2 coins
Diff 25 = 2 + 1/23 coins
And so on.
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