[PPCoin] Control the minting rate according to coin age

[rex]

Hi,

I come up with an idea and want to discuss it with everyone.

We know PPCoin uses coin age for network security. I think it is also better to use coin-age for minting control.

Reasons listed below:
1 Using coin age, the total amount of minting can be more predictable than using hashrate
   Total network hashrate is greatly affected by miners' focus, more than Moore's low.
   We can expect that total coin age in the network is linear to the total amount of PPCoin. So controlling the total amount of PPCoin through coin age will not be too different from through total amount of PPCoin

2 Coin age/average coin age is more related to economic activities, so the minting rate can also be designed to meet economic requirement
   If PPcoin get hot, users will tend to buy/sell bitcoins, so the average coin age will drop, and the minting number will increase; If fewer people run PPCoin, coin age will increase, and the minting number will decrease. This makes the network more stable (isn't it?)

For fairness, every peer should have the same search space to make rich people won't have advantage in this minting process. But it is still energy effective if search space is finite. (This will make things more complex, I need to think it deeper. Any advises?)

I apologize for my English. Hope everyone can understand my intention.

PPCoin is a fantastic alternate coin, I hope we can make it better.

[cunicula]

Hi,

I come up with this idea and I'd like to discuss it with everyone.

PPCoin uses coin age for network security, which is interesting, and I think coin age (or average coin age) should also be used for minting control.

Reasons listed below:
1 Using coin age, the total amount of minting is more predictable than using hashrate
2 Coin age/average coin age is more related to economic activities, so the minting rate can also be designed to meet economic requirement
3 Nobody will think "if I save PPCoin in my wallet, will it's value drop to 0 because of nobody mining it (which is the future picture of energy-efficiency) making the minting too fast".

If the interval of proof-of-work block is adjusted exponentially(so that it only provide an early-stage protection), and proof-of-stake uses the above minting strategy(it will finally replace proof-of-work in the role of minting), I think that will be better.

I apologize for my English. Hope everyone can understand my intention.

PPCoin is a fantastic alternate coin, I hope we can make it better.

I love PPCoin too, but your English is quite difficult to follow. Can you add some mathematical language to minimize miscommunication?

[rex]

Hi,

I come up with this idea and I'd like to discuss it with everyone.

PPCoin uses coin age for network security, which is interesting, and I think coin age (or average coin age) should also be used for minting control.

Reasons listed below:
1 Using coin age, the total amount of minting is more predictable than using hashrate
2 Coin age/average coin age is more related to economic activities, so the minting rate can also be designed to meet economic requirement
3 Nobody will think "if I save PPCoin in my wallet, will it's value drop to 0 because of nobody mining it (which is the future picture of energy-efficiency) making the minting too fast".

If the interval of proof-of-work block is adjusted exponentially(so that it only provide an early-stage protection), and proof-of-stake uses the above minting strategy(it will finally replace proof-of-work in the role of minting), I think that will be better.

I apologize for my English. Hope everyone can understand my intention.

PPCoin is a fantastic alternate coin, I hope we can make it better.

I love PPCoin too, but your English is quite difficult to follow. Can you add some mathematical language to minimize miscommunication?

OK, I'll edit the post and try my best to make it clear. Sorry for the language problem.