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Author Topic: How to maintain consensus without the use of inflation?  (Read 1532 times)
CoinHoarder (OP)
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April 12, 2017, 01:20:52 PM
Last edit: April 12, 2017, 01:59:01 PM by CoinHoarder
 #21

wasn't lbry a deflazionary coin? the block reward was going to icrease over time not decrease, making the vlue much higher at the beginning, then they dumped because the block reward increase too much and buyers were not able to counter the miners pressure

No, library coin is inflationary for about 20 years, then it has neutral inflation (supply does not increase nor decrease). Most PoW coins are like this, other than ones that have tail emissions. A tail emission causes permanent inflation.

A block reward equals inflation (the opposite of deflation.)
CoinHoarder (OP)
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April 12, 2017, 01:52:17 PM
Last edit: April 12, 2017, 02:16:08 PM by CoinHoarder
 #22

I need a remote control to access my tv , does it mean my tv had permission ?  Nope. Anyone can grab the remote and charge channel.

I need a transistor to listen the radio , does this mean the radio has permission ? Nope, anyone can grab the transistor and listen the radio.

There is investment cost to make profits out of it. Doesnt mean it's permission based.
Just as it is with PoW mining, your logic is flawed in your two examples.

Anyone cannot simply grab the remote. They need permission to access your house. Permission to drive on the road, or walk on the sidewalk to your house. Permission to change the channel (you've never stopped a kid from playing with the remote? Or had to get permission from the wife? Or if I'm having a party to watch a big sporting event, then I am not going to simply let a guest change the channel to watch the news). You need permission from the retailer that sold you your TV or remote. TV manufacturers source parts from many companies, they need these companies' permission to obtain these parts. The companies need permission from chip foundries to create said components.

The same type of permissions are needed with the radio.

Practically nothing is permissionless in this day and age.

The main point is the OP seem to have the same thinking bias of people who only see coins as way to make profits. And they think along the line of "I do something that help the network or is good for the coin and i deserve a reward"

Which is incorrect thinking.

I completely disagree. PoS staking still requires time and inconvenience to stakers in order to secure the blockchain. They need to keep the wallet online, and they need to keep the node updated. If no incentive is given, then less people will participate which makes the cryptocurrency less secure.

Whether or not someone sees a coin as only a way to make a profit makes no difference, because either way they still need to be compensated for their time and effort.

Time and effort = risk, as you could be doing something else that is more valuable with your time
Time and effort = money
Bandwidth = money
Computing resources = money
Optional inconveniences = time and effort = risk + money

...

There must be incentives of some type, otherwise the network would be less secure because less people would choose to participate (such as keep their funds on an exchange or in cold wallets.)

What I am trying to create is a model that does not use inflation for this incentive (as all other cryptocurrencies do,) and I would prefer that you stay on topic as to how to do that. Anything else is off topic.
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