Digitalcoin Block Reward Changes

[Tsquared]

The Digitalcoin Foundation would like your opinion regarding block reward changes for the upcoming release of Digitalcoin V3.0. There are several improvements and new features in the works including a switch to multiple algorithms, multi-vPoW (restricted to specific coins), and other minor fixes and improvements. At this time the Foundation feels that block rewards should be considered and possibly changed for a number of reasons.

In keeping with our mission to keep Digitalcoin a coin for the community and by the community, we ask your opinion regarding block rewards.

The current reward is 15 DGC and a 40 second block rate. The switch to multiple algorithms will allow mining via SHA256, Scrypt, and X11, with each algorithm still targeting an overall 40 second block rate, and the hashrate on each algorithm will be used to adjust difficulty targeting across all three. While it would be possible to have different rewards for blocks found on different algorithms, the intention is to keep rewards the same across each algorithm.

To clarify, regardless of the multiple algorithms, the Digitalcoin block rate will still be 1 block every 40 seconds.

The question is: Should the 15 DGC reward every 40 seconds be changed, and if so, to what?

The Foundation values your opinion, and will take all opinions into consideration. Please take this opportunity to let the Foundation know what you think, and please elaborate by posting a reply with details.

[cosmoo]

If we can manage to secure the hashrate in other ways reducing the reward would be a good idea.

[kenel]

I am a firm believer in reducing the mint rate of the coin. I have cast my vote.

[Tsquared]

Kind of surprised at the limited feedback. It seems that there are always lots of comments after a decision is made, but less willingness to be a part of a decision before it's made. As a supporter, I want to encourage anything that enhances the value of Digitalcoin and it would appear that decreasing the mint rate is a positive step. This is undoubtedly only one small step toward an overall objective of mainstream integration, but an important step that requires some some discussion. At the end of the day, a decision will not be based solely on this poll, but this is a good opportunity to aire your opinions.

TT

[cosmoo]

This apathetic attitude is standard of humanity. It's good to have these threads for posterity, if later DGC becomes successful and someone claims it's being covertly manipulated it can be proved that yeah, the public was asked for their opinion, they just chose to pass the opportunity to get involved. You can't preempt sore losers.

DGC could really use a massive marketing campaign of some sort. Simply taking a video of someone passing out DGC fliers in a public area could do a lot to gain rapport.

[vegasguy]

I think the block reward and reward time is perfect. I would like to see POS added as most senior coins have added POS or will add POS.

Vegas

[cosmoo]

I would like to see POS added as most senior coins have added POS or will add POS.

Vegas

Agreed, it'd have to be a hybrid system of PoW/PoS.

[XCASH]

As a supporter, I want to encourage anything that enhances the value of Digitalcoin and it would appear that decreasing the mint rate is a positive step.

I agree with Tsquared that decreasing the mint rate is a positive step. If we keep bumping this thread I am sure we will get more feedback from other supporters.

[Tsquared]

So far it seems like most folks are in favor of lowering the mint rate.  I'd love to hear some opposing viewpoints, but not sure that anyone has any.

TT

[cosmoo]

bump

[Tsquared]

Don't bump this too much.  I'm happy with the current input.

TT

[chiznitz]

Hrm, this is a tough one. 


I believe the block reward could be lowered as I've seen the huge multipools jumping on DGC which leads to dumping.  I honestly believe POS is going to be the better route but we also need a way to get DGC in the hands of new crypto folks as well besides just buying on exchanges, so not really sure there.

POS will stop miners who generally aren't interested in DGC from dumping, miners aren't going to buy it and stake just to sell the stake.

I guess I'd like to see it move to POS as I have a machine that does just staking wallets and I'd love to have my dgc open over there

[cosmoo]

Don't bump this too much.  I'm happy with the current input.

TT

sure thing!

[Tsquared]

Seems pretty clear that lower block rewards are in order, but was really thinking that it made more sense if we were going to open Digitalcoin for merge mining.  As it seems that we will not be enabling merge mining, maybe the 5 DGC reward is too low?

TT

[Tsquared]

Thanks for the input. No doubt how folks feel about this, well at least those who registered an opinion.

Will leave this open for now, but the decision has been made, and block rewards will be significantly reduced.

TT