[ANN] [SFR] SaffronCoin | Latest Version - 1.4.2/2.6.2 | Mandatory Wallet Update

[saffroncoin]

Mock of the Android Wallet. Thanks to Charles we have finished the 1st stage :

[chickenfried12]

  Will the changes reduce the overall coins produced or just slow the rate of production?

[saffroncoin]

  Will the changes reduce the overall coins produced or just slow the rate of production?

The max coins and daily supply will be reduced a bit.

[yweetot]

Author allows the currency coin-ga.me it? Where in addition to the transaction, but also to play the game

[SkyValeey]

Mock of the Android Wallet. Thanks to Charles we have finished the 1st stage :

Great  , twitted about it. 

[hughjays77]

Dev, you said a bit[ as in a small amount ] but the the poll says "Yes, reduce reward to 35-40 which would effectively cut supply by half"

Is that where we are heading i.e  a reward reduction by approx 50% with the same block times ?

  Will the changes reduce the overall coins produced or just slow the rate of production?

The max coins and daily supply will be reduced a bit.

[Mr.Joker]

Dev, you said a bit[ as in a small amount ] but the the poll says "Yes, reduce reward to 35-40 which would effectively cut supply by half"

Is that where we are heading i.e  a reward reduction by approx 50% with the same block times ?

  Will the changes reduce the overall coins produced or just slow the rate of production?

The max coins and daily supply will be reduced a bit.

IRC CHAT:

[04:31] <sfrdev> Hey guys
[04:31] <sfrdev> Have prepared an outline of the supply control
[04:32] <sfrdev> Want your views so that we can implement it
[04:33] <sfrdev> Max coins 78M(65M after coming hardfork and 13M current supply)
[04:34] <sfrdev> We are implementing gradual decrease of rewards. This helps in preventing inflation in the long run
[04:34] <sfrdev> Not a fixed supply cutdown
[04:35] <sfrdev> First 6 months, 30K supply/day
[04:35] <sfrdev> For 1 yr after that, gradual decrease from 30K-15K
[04:35] <sfrdev> For 2 years after that, gradual decrease from 15K-10K
[04:36] <sfrdev> For 4 yrs after that 10K-5K
[04:36] <sfrdev> For 10yrs after that, 5K-1K

Community have to agree.

[saffroncoin]

This is how the reward graph will look over a span of 120 years, a gradual decrease of Block reward. Such a model will bring a stable balance between investors and miners unlike the traditional halving method.

Once you all approve, we will push the update.

Any queries or clarifications, do ask.





P.S. For newcomers, this supply control decision was taken by the community and not the Dev team alone.

[lin0sspice]

This is how the reward graph will look over a span of 120 years, a gradual decrease of Block reward. Such a model will bring a stable balance between investors and miners unlike the traditional halving method.

Once you all approve, we will push the update.

Any queries or clarifications, do ask.





P.S. For newcomers, this supply control decision was taken by the community and not the Dev team alone.

Vote +1

[anon989]

We may be able to cut supply, but will that increase demand?
Even with an immediate reduction in daily supply, we still need more exposure to both miners and investors.
I know people are itching to reply "but saffron is the best coin and everyone will want it just wait because everything always turns our good for good things".

People look at dark and think its stingy mining rewards caused it's value to jump. That is not entirely accurate.
Most of the jump came from anon intrigue and especially people buying to stake as a master node.

I'm not saying I'm against cutting supply.I understand the idea behind it.
Just not sure if everyone realizes that supply reduction alone, even with decreased mining insta-sells, does not guarantee higher values anytime soon.
Maybe a brief speculation spike....

But I'm down for what ever you guys choose

In other news, a pool operator friend of mine will be adding saffron soon!

[cryptoholic11]

Once SFR does get the exposure and becomes more mainstream, supply and reward reduction surely can't hurt demand. Reduction can only help demand imho. Im sure investors will be happier with this decision than most miners, but it will provide a good balance amongst the two parties, again imho. There's always going to be a give and take.

[racasanuk]

The see-sawing price is frustrating, this coin is a good investment but who will hold it and who will buy it if the price is stagnant?

[cryptoholic11]

The see-sawing price is frustrating, this coin is a good investment but who will hold it and who will buy it if the price is stagnant?

Welcome to crypto. Do you expect prices just to keep rising? Every coin has seen pumps, dumps and stagnation. It's normal. Btw if the price is sea sawing, then it is not stagnant, and if it is stagnant then it is not sea sawing.  It's a good investment my friend, patience.

[hughjays77]

Excellent news !! All we need now is a tentative date for the hard fork.

Dev, you said a bit[ as in a small amount ] but the the poll says "Yes, reduce reward to 35-40 which would effectively cut supply by half"

Is that where we are heading i.e  a reward reduction by approx 50% with the same block times ?

  Will the changes reduce the overall coins produced or just slow the rate of production?

The max coins and daily supply will be reduced a bit.

IRC CHAT:

[04:31] <sfrdev> Hey guys
[04:31] <sfrdev> Have prepared an outline of the supply control
[04:32] <sfrdev> Want your views so that we can implement it
[04:33] <sfrdev> Max coins 78M(65M after coming hardfork and 13M current supply)
[04:34] <sfrdev> We are implementing gradual decrease of rewards. This helps in preventing inflation in the long run
[04:34] <sfrdev> Not a fixed supply cutdown
[04:35] <sfrdev> First 6 months, 30K supply/day
[04:35] <sfrdev> For 1 yr after that, gradual decrease from 30K-15K
[04:35] <sfrdev> For 2 years after that, gradual decrease from 15K-10K
[04:36] <sfrdev> For 4 yrs after that 10K-5K
[04:36] <sfrdev> For 10yrs after that, 5K-1K

Community have to agree.

[cryptoholic11]

Devs said 2 weeks, i believe. Join the IRC sometimes, you get way more info than the forums.

[racasanuk]

I understand that there has to be a balance between rewarding the miners and those prepared to take a risk with the coin

Is there a sweet spot between the two where the miners and the investors are happy with the coin?

I can see that favoring the miners helps with the longevity of the coin but what of the pool of people wanting to get into the coin, will it shrink because of the price? If it does and miners cannot sell the coin then what?

At one time the mining rewards where someone’s best guess and I have to say I think it was a good guess but maybe a >small< “course correction” is called for at this point

[anon989]

Miners will mine anything that pays well, and covers the bills, or at least that's been my experience in mining.
1 coin or 100 coin, the reward isn't as important as the value in mining. Although 100 coins worth a lot is still better than mining 1 coin that's worth a lot.

There does need to exist a balance. Don't want it too exclusive, hard to get a hold of, or too pricey. It needs broad user base.
But obviously people go where the money is, so it can't be dirt cheap either

If the coin supply is cut in half now, later more people mine it and difficulty sky rockets, will miners still make enough coin, depending on value, to make mining worth it?

I don't know

I think everyone just needs to start buying saffron and all will be well

[interupted]

When I talked to the Dev yesterday it sounded like just a few days and the android wallet will be out. Good time to buy now.

[leigh2k14]

Something is wrong the network hash is down while I try and mine, it's the same on 2 pool?

[Coin_Viking]

We may be able to cut supply, but will that increase demand?
Even with an immediate reduction in daily supply, we still need more exposure to both miners and investors.
I know people are itching to reply "but saffron is the best coin and everyone will want it just wait because everything always turns our good for good things".

People look at dark and think its stingy mining rewards caused it's value to jump. That is not entirely accurate.
Most of the jump came from anon intrigue and especially people buying to stake as a master node.

I'm not saying I'm against cutting supply.I understand the idea behind it.
Just not sure if everyone realizes that supply reduction alone, even with decreased mining insta-sells, does not guarantee higher values anytime soon.
Maybe a brief speculation spike....

But I'm down for what ever you guys choose

In other news, a pool operator friend of mine will be adding saffron soon!

Agreed. Striking a good balance with the emissions model is important but now moving forward the onus is on each of us (the community) to spread to word on saffron and organically grow interest and demand for the coin. Ultimate success depends on this.