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Author Topic: Idea for the next alt coin  (Read 655 times)
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July 06, 2012, 10:07:54 PM

First, let me way that I think BTC is the strongest amd most stable coin, and will be that way for the foreseeable future. Also let me say that I feel like LTC is doing very well right now and I see no reason to abandon it or try to push it out with a new coin.

That said, history suggests that there will be a next alt coin. When this happens there is a feature that I think would improve it.

The limited, predictable supply of bitcoins is a feature that strengthens it. I feel like it should be preserved. That said, though, the sudden halving of mining rewards seems to cause anxiety amongst the miners. Anxiety is not good for the economy.

With all of that buildup, my proposal is this: what if the reward decrease was so gradual that it was never an event, but was in stead a constant characteristic?

In the most extreme case each block would have a reward slightly less than the one before it. This could easily cause rounding concerns quickly, so I feel like a better solution would be to change the reward at difficulty retargets.  That way there is less anticipation and FUD about a sudden drop off.

There are many threads declaring the end of profitable GPU mining as of the retarget. All of those threads would be rendered moot by this change.

Lastly, a comment on the topic of the finite money supply: this system would still converge on a max supply of coins, provides the reduction follows a convergent geometric sequence. I think that following a harmonic sequence could have its merits and address the deflationary nature of BTC, but that is a topic for another thread.

Sorry for the rambling. Let me know what you all think.
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Bitcoin Oz
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July 06, 2012, 10:14:48 PM

Instead of the block reward halving each time it could be 1/4 or 1/8th or 1/16th or 1/32 I think just as easily.

Im guessing a half is a nice easy calculation to make so thats why it was chosen.

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