Quote from: litedoge on June 11, 2015, 01:14:25 AM

Quote from: heathcoin on June 10, 2015, 10:56:06 PM

Proposed New Block Reward Structure

As a community, we need to address the current block reward structure. Currently, there are approximately 40,500,000 new coins minted every day with the reward set at 30,000 per block. This was put into effect starting at block 51,000 to help those that lost coins due to problems with the original wallet.

However, we now face another issue... and that is the value of our coin. A lot of people (not all) sold off large quantities of coins and dropped the value of our coin hurting the efforts we make now as we try to move forward. By decreasing the supply of coins, the value will naturally go up. But we shouldn't do this too quickly as that may turn away new investors to the coin. By gradually lowering the block reward over time, it also gives those who sold off a chance to buy back in and recover some losses.

A group of us have spent considerable time discussing the best way to proceed. We have come up with a proposed new block reward structure as follows:

Block Reward
51000 to 144999: 30000
145000 to 189999: 28000
190000 to 234999: 26000
235000 to 279999: 24000
280000 to 324999: 22000
325000 to 369999: 20000
370000 to 414999: 18000
415000 to 459999: 16000
460000 to 504999: 14000
505000 to 549999: 12000
550000 to 594999: 10000
595000 to 639999: 8000
640000 +: 6000

This will take approximately one year to reach the minimum block reward of 6,000 coins.

Changing the block rewards will require a mandatory wallet update, so we would like to implement changes at the same time the new wallet with the GUI update is rolled out.

As always, any and all feedback is welcome.

Thank you.
- heathkid

Yes, I support a drop in rewards with the new wallets - but a much steeper drop and simpler as follows:

Block Reward
51000 to 149999: 30000
150000 to 199999: 20000
200000 to 249999: 18000
250000 to 299999: 16000
300000 to 349999: 14000
350000 to 399999: 10000
400000 to 449999: 8000
450000 to 499999: 6000
500000 + : 3000 (low to ensure future of coin)

Every 50k may be easier... but every 45k roughly equals one month. I think what you are proposing is way too fast of a drop. It's too steep. But... of course we'll support whatever the community wants. I can't stress enough that a decision needs to be made quickly.

@litedoge can you please join us on the IRC channel so we can discuss in real-time?

Thanks,
heathkid