1% Monthly New Minting Reduction: New DigiByte production decreases 1% every month.
Thats crystal clear, but I think there is an offset to that... it isint true from block number 1
currently I have this, but its not 100% accurate
2435 * 0.99**((blocks_number - 400_000) / 86400).floor
I got this:
Change reduction from 1% per week to 1% per month. (12% annual reduction compounded monthly) => v3.0.3
Before Fork i got this:
No we still have the 0.5% weekly reduction. When we first created DigiByte we wanted the blocks to be as fast as possible. But we found that anything quicker than 60 seconds caused many issues with a single POW algo. With multi-algo we are able to make transactions even faster for merchants as we originally intended.
Block Reward Decrease
We are not looking to do anything dramatic here. Instead we are looking for a solution that will benefit everyone. Miners, current investors and future investors. We are considering three potential options to change the block reward. These will a gradual block reward % reduction every 7 days.
Current amount of coins left to be mined: 20,400,000,000
Block Percentage Reduction Every: 10107.69230769231 Blocks (1 week)
Option 1:
20 Years: Block reward reduces every week by a small percentage so that the last coin is minted 20 years from now.
20x365x24x60= 10,512,000 Blocks
20 x 52 weeks= 1040 Weeks
20,400,000,000 DGB / 10,512,000 Blocks = 1940.64 DigiByte reward average per block over 20 years.
Option 2:
15 Years: Block reward reduces every week by a small percentage so that the last coin is minted 15 years from now.
15x365x24x60= 7,884,000 Blocks
15 x 52 weeks= 780 Weeks
20,400,000,000 DGB / 7,884,000 Blocks = 2587.52 DigiByte reward average per block over 15 years.
Option 3:
10 Years: Block reward reduces every week by a small percentage so that the last coin is minted 10 years from now.
10x365x24x60= 5,256,000 Blocks
10 x 52 weeks = 520 Weeks
20,400,000,000 DGB / 5,256,000 Blocks = 3881.28 DigiByte reward average per block over 10 years.
So what does everyone think? What is the best solution? How would you do things different?
Note: After running through several calculations it looks like 0.5% is the sweet spot for a weekly reduction. This gives DigiByte over 20 years of profitable mining. Explaining a 0.4143583% reduction would confuse many people. A nice half percent decrease is much easier for people to calculate and for us to market.
