Aiden - Block Reward Halving Poll

[snogcel]

There's been talk on the Aiden announcement thread that an adjustment to block reward should be implemented:

https://bitcointalk.org/index.php?topic=558414.msg6250887#msg6250887

The best recommendation came from buttonmc which is quoted below. Two poll options:

-Don't change anything! --> this means don't change anything.
-Change halving schedule! --> change block reward / halving schedule as outlined by buttonmc

Vote!!

This is still not enough infrastructure to outweigh the rate of current mining.

I agree with a faster reward halving, but it needs to be done more thoughtfully.

This is the current distribution:

blocks   reward   coins   total coins   time (years)
840000   50   42000000   42000000   0.799086758
840000   25   21000000   63000000   1.598173516
840000   12.5   10500000   73500000   2.397260274
840000   6.25   5250000   78750000   3.196347032
840000   3.125   2625000   81375000   3.99543379
840000   1.5625   1312500   82687500   4.794520548
840000   0.78125   656250   83343750   5.593607306
840000   0.390625   328125   83671875   6.392694064
840000   0.1953125   164062.5   83835937.5   7.191780822
840000   0.09765625   82031.25   83917968.75   7.99086758


At 210,000 block reward halving you run into a convergence on 21 M coins, not the desired 84 M:

blocks   reward   coins   total coins   time (years)
210000   50   10500000   10500000   0.199771689
210000   25   5250000   15750000   0.399543379
210000   12.5   2625000   18375000   0.599315068
210000   6.25   1312500   19687500   0.799086758
210000   3.125   656250   20343750   0.998858447
210000   1.5625   328125   20671875   1.198630137
210000   0.78125   164062.5   20835937.5   1.398401826
210000   0.390625   82031.25   20917968.75   1.598173516
210000   0.1953125   41015.625   20958984.38   1.797945205
210000   0.09765625   20507.8125   20979492.19   1.997716895
210000   0.048828125   10253.90625   20989746.09   2.197488584
210000   0.024414063   5126.953125   20994873.05   2.397260274
210000   0.012207031   2563.476563   20997436.52   2.597031963
210000   0.006103516   1281.738281   20998718.26   2.796803653
210000   0.003051758   640.8691406   20999359.13   2.996575342
210000   0.001525879   320.4345703   20999679.57   3.196347032
210000   0.000762939   160.2172852   20999839.78   3.396118721
210000   0.00038147   80.10864258   20999919.89   3.595890411
210000   0.000190735   40.05432129   20999959.95   3.7956621
210000   9.53674E-05   20.02716064   20999979.97   3.99543379
210000   4.76837E-05   10.01358032   20999989.99   4.195205479
210000   2.38419E-05   5.006790161   20999994.99   4.394977169
210000   1.19209E-05   2.503395081   20999997.5   4.594748858
210000   5.96046E-06   1.25169754   20999998.75   4.794520548
210000   2.98023E-06   0.62584877   20999999.37   4.994292237
210000   1.49012E-06   0.312924385   20999999.69   5.194063927
210000   7.45058E-07   0.156462193   20999999.84   5.393835616
210000   3.72529E-07   0.078231096   20999999.92   5.593607306
210000   1.86265E-07   0.039115548   20999999.96   5.793378995


I think the optimum coin release schedule involves a combination of variable block reward halving times along with a minimum block reward of 3.125:

blocks   reward   coins   total coins   time (years)
210000   50   10500000   10500000   0.199771689
420000   25   10500000   21000000   0.599315068
840000   12.5   10500000   31500000   1.398401826
1680000   6.25   10500000   42000000   2.996575342
3360000   3.125   10500000   52500000   6.192922374
10080000   3.125   31500000   84000000   15.78196347


The original distribution period was 8 years, this method increases that time period to 15 years. However, you can see that it bottlenecks the coin distribution to 42M coins in 3 years rather than the original plan of less than 1 year.

[buttonmc]

Anyone care to share their views on the pros/cons of modifying the coin release schedule?

These are some that I can think of:

Pros:

-keep supply / demand in check to stabilize price for both short/long term
-bottleneck high influx of coins into market (currently ~1 million adn / week, 50% in < 1 year, ~90% in 3 years)
-help extend mining lifetime with minimum block reward in future years

Cons:

-community perception to changes (can go in either direction: identifying flaws and fixing them early or deviating from original plan)

[ando0022]

Vote or die 

I vote for the change

[expert-lister]

Vote +1 

[aKIA]

Voted for the change

[GTO911]

aiden is a shitcoin, nothing innovative, just scrypt-n with changed n factor and wooop scrypt og is born

[ando0022]

aiden is a shitcoin, nothing innovative, just scrypt-n with changed n factor and wooop scrypt og is born

Thank you for your opinion.
Have a nice day

[ycm82]

over

[portice]

Honestly do not think this will happen, it screams shadiness and Defaced doesn't roll that way.

[SpiryGolden]

Honestly do not think this will happen, it screams shadiness and Defaced doesn't roll that way.

Slacking devs are everywhere nothing you can do about .