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ctgiant
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June 09, 2015, 03:47:48 PM |
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what is the best block size for better staking??
500,000 to 1,000,000 is a good number. Once it splits it's way down to less than 50,000 per block, recombine to recommended size again. Hopefully once the wallet code is cleaned up and some bugs are fixed, the community devs can get automatic splitting and recombining to optimal block sizes implemented in the wallet so that we do not have to worry about this. |
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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bamrieid
Member
 Offline
Activity: 73
Merit: 10
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June 09, 2015, 09:58:51 PM |
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what is the best block size for better staking??
500,000 to 1,000,000 is a good number. Once it splits it's way down to less than 50,000 per block, recombine to recommended size again. Hopefully once the wallet code is cleaned up and some bugs are fixed, the community devs can get automatic splitting and recombining to optimal block sizes implemented in the wallet so that we do not have to worry about this. very clear answer Thank you my friend |
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heathcoin
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June 09, 2015, 11:41:13 PM |
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@heavensopen please hang out in the IRC channel. There is a lot going on and we'll need to be able to reach you quickly at times. Thank you!
- heathkid (IRC)
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ctgiant
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June 10, 2015, 04:39:21 AM |
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Windows wallet with GUI changes is in development and coming soon. Here's a sneak peek of a working wallet:  Any and all feedback is welcome, as this is a community project now. -ctgiant |
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CryptoChaser
Member
Offline
Activity: 95
Merit: 10
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June 10, 2015, 01:32:22 PM |
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Windows wallet with GUI changes is in development and coming soon. Here's a sneak peek of a working wallet:
Any and all feedback is welcome, as this is a community project now.
-ctgiant
That looks perfect! Can't wait! |
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crunck
Legendary
Offline
Activity: 1176
Merit: 1005
crunck
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June 10, 2015, 07:55:25 PM |
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I have just made a post on litedoge.org/forum and what like some input please  |
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heathcoin
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June 10, 2015, 10:56:06 PM |
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Proposed New Block Reward Structure
As a community, we need to address the current block reward structure. Currently, there are approximately 40,500,000 new coins minted every day with the reward set at 30,000 per block. This was put into effect starting at block 51,000 to help those that lost coins due to problems with the original wallet.
However, we now face another issue... and that is the value of our coin. A lot of people (not all) sold off large quantities of coins and dropped the value of our coin hurting the efforts we make now as we try to move forward. By decreasing the supply of coins, the value will naturally go up. But we shouldn't do this too quickly as that may turn away new investors to the coin. By gradually lowering the block reward over time, it also gives those who sold off a chance to buy back in and recover some losses.
A group of us have spent considerable time discussing the best way to proceed. We have come up with a proposed new block reward structure as follows:
Block Reward
51000 to 144999: 30000
145000 to 189999: 28000
190000 to 234999: 26000
235000 to 279999: 24000
280000 to 324999: 22000
325000 to 369999: 20000
370000 to 414999: 18000
415000 to 459999: 16000
460000 to 504999: 14000
505000 to 549999: 12000
550000 to 594999: 10000
595000 to 639999: 8000
640000 +: 6000
This will take approximately one year to reach the minimum block reward of 6,000 coins.
Changing the block rewards will require a mandatory wallet update, so we would like to implement changes at the same time the new wallet with the GUI update is rolled out.
As always, any and all feedback is welcome.
Thank you.
- heathkid
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heavensopen (OP)
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June 10, 2015, 11:02:10 PM |
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I agree to this
It's true that reward is too high but on the other hand it is something anyone would consider if he wants to invest in this coin. By gradually lowering the stake reward we can help increasing value a bit.
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crunck
Legendary
Offline
Activity: 1176
Merit: 1005
crunck
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June 10, 2015, 11:10:13 PM |
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This also gets my vote, and I know a lot of thought has gone into this from various people Good job guys, lets get this coin rocking |
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bonipper
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June 10, 2015, 11:12:08 PM |
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I agree to this
It's true that reward is too high but on the other hand it is something anyone would consider if he wants to invest in this coin. By gradually lowering the stake reward we can help increasing value a bit.
I also agree that the proposed gradual block reward decrease is a well thought out plan. It will probably be accepted by the vast majority of the community as the best solution to the issues facing LiteDoge. |
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LiteBit
Legendary
Offline
Activity: 1133
Merit: 1050
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June 10, 2015, 11:29:37 PM |
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Works.
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dogedart
Newbie
Offline
Activity: 14
Merit: 0
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June 11, 2015, 01:13:36 AM |
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Proposed New Block Reward Structure
As a community, we need to address the current block reward structure. Currently, there are approximately 40,500,000 new coins minted every day with the reward set at 30,000 per block. This was put into effect starting at block 51,000 to help those that lost coins due to problems with the original wallet.
However, we now face another issue... and that is the value of our coin. A lot of people (not all) sold off large quantities of coins and dropped the value of our coin hurting the efforts we make now as we try to move forward. By decreasing the supply of coins, the value will naturally go up. But we shouldn't do this too quickly as that may turn away new investors to the coin. By gradually lowering the block reward over time, it also gives those who sold off a chance to buy back in and recover some losses.
A group of us have spent considerable time discussing the best way to proceed. We have come up with a proposed new block reward structure as follows:
Block Reward
51000 to 144999: 30000
145000 to 189999: 28000
190000 to 234999: 26000
235000 to 279999: 24000
280000 to 324999: 22000
325000 to 369999: 20000
370000 to 414999: 18000
415000 to 459999: 16000
460000 to 504999: 14000
505000 to 549999: 12000
550000 to 594999: 10000
595000 to 639999: 8000
640000 +: 6000
This will take approximately one year to reach the minimum block reward of 6,000 coins.
Changing the block rewards will require a mandatory wallet update, so we would like to implement changes at the same time the new wallet with the GUI update is rolled out.
As always, any and all feedback is welcome.
Thank you.
- heathkid
Thanks Heathkid, I really like the looks of this block reward strategy as well. Has my vote! |
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litedoge
Sr. Member
Offline
Activity: 280
Merit: 250
wow much coin such love
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June 11, 2015, 01:14:25 AM |
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Proposed New Block Reward Structure
As a community, we need to address the current block reward structure. Currently, there are approximately 40,500,000 new coins minted every day with the reward set at 30,000 per block. This was put into effect starting at block 51,000 to help those that lost coins due to problems with the original wallet.
However, we now face another issue... and that is the value of our coin. A lot of people (not all) sold off large quantities of coins and dropped the value of our coin hurting the efforts we make now as we try to move forward. By decreasing the supply of coins, the value will naturally go up. But we shouldn't do this too quickly as that may turn away new investors to the coin. By gradually lowering the block reward over time, it also gives those who sold off a chance to buy back in and recover some losses.
A group of us have spent considerable time discussing the best way to proceed. We have come up with a proposed new block reward structure as follows:
Block Reward
51000 to 144999: 30000
145000 to 189999: 28000
190000 to 234999: 26000
235000 to 279999: 24000
280000 to 324999: 22000
325000 to 369999: 20000
370000 to 414999: 18000
415000 to 459999: 16000
460000 to 504999: 14000
505000 to 549999: 12000
550000 to 594999: 10000
595000 to 639999: 8000
640000 +: 6000
This will take approximately one year to reach the minimum block reward of 6,000 coins.
Changing the block rewards will require a mandatory wallet update, so we would like to implement changes at the same time the new wallet with the GUI update is rolled out.
As always, any and all feedback is welcome.
Thank you.
- heathkid
Yes, I support a drop in rewards with the new wallets - but a much steeper drop and simpler as follows: Block Reward 51000 to 149999: 30000 150000 to 199999: 20000 200000 to 249999: 18000 250000 to 299999: 16000 300000 to 349999: 14000 350000 to 399999: 10000 400000 to 449999: 8000 450000 to 499999: 6000 500000 + : 3000 (low to ensure future of coin) |
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heathcoin
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June 11, 2015, 01:58:10 AM |
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Proposed New Block Reward Structure
As a community, we need to address the current block reward structure. Currently, there are approximately 40,500,000 new coins minted every day with the reward set at 30,000 per block. This was put into effect starting at block 51,000 to help those that lost coins due to problems with the original wallet.
However, we now face another issue... and that is the value of our coin. A lot of people (not all) sold off large quantities of coins and dropped the value of our coin hurting the efforts we make now as we try to move forward. By decreasing the supply of coins, the value will naturally go up. But we shouldn't do this too quickly as that may turn away new investors to the coin. By gradually lowering the block reward over time, it also gives those who sold off a chance to buy back in and recover some losses.
A group of us have spent considerable time discussing the best way to proceed. We have come up with a proposed new block reward structure as follows:
Block Reward
51000 to 144999: 30000
145000 to 189999: 28000
190000 to 234999: 26000
235000 to 279999: 24000
280000 to 324999: 22000
325000 to 369999: 20000
370000 to 414999: 18000
415000 to 459999: 16000
460000 to 504999: 14000
505000 to 549999: 12000
550000 to 594999: 10000
595000 to 639999: 8000
640000 +: 6000
This will take approximately one year to reach the minimum block reward of 6,000 coins.
Changing the block rewards will require a mandatory wallet update, so we would like to implement changes at the same time the new wallet with the GUI update is rolled out.
As always, any and all feedback is welcome.
Thank you.
- heathkid
Yes, I support a drop in rewards with the new wallets - but a much steeper drop and simpler as follows: Block Reward 51000 to 149999: 30000 150000 to 199999: 20000 200000 to 249999: 18000 250000 to 299999: 16000 300000 to 349999: 14000 350000 to 399999: 10000 400000 to 449999: 8000 450000 to 499999: 6000 500000 + : 3000 (low to ensure future of coin) Every 50k may be easier... but every 45k roughly equals one month. I think what you are proposing is way too fast of a drop. It's too steep. But... of course we'll support whatever the community wants. I can't stress enough that a decision needs to be made quickly. @litedoge can you please join us on the IRC channel so we can discuss in real-time? Thanks, heathkid |
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heathcoin
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June 11, 2015, 03:15:23 AM |
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We really need feedback on the proposed block reward structure now. We are ready to move forward with the coding of the new wallet and need a decision ASAP. Hey community... speak up now please! This is your coin. Let's hear your voice!
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crunck
Legendary
Offline
Activity: 1176
Merit: 1005
crunck
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June 11, 2015, 09:46:31 AM |
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Both of these seem to have merits, so I have set up a poll here: http://litedoge.org/forum/index.php?topic=12.0As we are now community driven this is a chance to have your say on what could be one of the most important decisions for this coins future. Please have your say and vote! |
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samspaces
Legendary
Offline
Activity: 1453
Merit: 1030
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June 11, 2015, 09:56:52 AM |
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I still say this coin can be huge in Japan.
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mellon
Legendary
Offline
Activity: 1014
Merit: 1002
Quel marth Melloneamin
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June 11, 2015, 10:35:24 AM |
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Proposed New Block Reward Structure
As a community, we need to address the current block reward structure. Currently, there are approximately 40,500,000 new coins minted every day with the reward set at 30,000 per block. This was put into effect starting at block 51,000 to help those that lost coins due to problems with the original wallet.
However, we now face another issue... and that is the value of our coin. A lot of people (not all) sold off large quantities of coins and dropped the value of our coin hurting the efforts we make now as we try to move forward. By decreasing the supply of coins, the value will naturally go up. But we shouldn't do this too quickly as that may turn away new investors to the coin. By gradually lowering the block reward over time, it also gives those who sold off a chance to buy back in and recover some losses.
A group of us have spent considerable time discussing the best way to proceed. We have come up with a proposed new block reward structure as follows:
Block Reward
51000 to 144999: 30000
145000 to 189999: 28000
190000 to 234999: 26000
235000 to 279999: 24000
280000 to 324999: 22000
325000 to 369999: 20000
370000 to 414999: 18000
415000 to 459999: 16000
460000 to 504999: 14000
505000 to 549999: 12000
550000 to 594999: 10000
595000 to 639999: 8000
640000 +: 6000
This will take approximately one year to reach the minimum block reward of 6,000 coins.
Changing the block rewards will require a mandatory wallet update, so we would like to implement changes at the same time the new wallet with the GUI update is rolled out.
As always, any and all feedback is welcome.
Thank you.
- heathkid
Yes, I support a drop in rewards with the new wallets - but a much steeper drop and simpler as follows: Block Reward 51000 to 149999: 30000 150000 to 199999: 20000 200000 to 249999: 18000 250000 to 299999: 16000 300000 to 349999: 14000 350000 to 399999: 10000 400000 to 449999: 8000 450000 to 499999: 6000 500000 + : 3000 (low to ensure future of coin) Good idea. Its really need to do. Im agree with litedoge about much steeper drop. Need to think about all details Really may be better half it on 150K block (15K /block)? |
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✓ POW/POS
✓ ANONIMITY
✓ TRANSACTIONS
✓ SECURITY | | |
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PeterVenter
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June 11, 2015, 11:33:06 AM |
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Good idea. Its really need to do. Im agree with litedoge about much steeper drop. Need to think about all details Really may be better half it on 150K block (15K /block)? I support mellon on this one. |
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