OK guys, ...
Food for thought, personally, I am torn. I agree that we don't want to have billions of coins in the long run, and that cutting the rewards once we hit PoS is the thing to do. My concern is that these numbers may cut them too much too fast. I can envision a scenario where as we approach the end of PoW knowing the rewards will drop many masternode owners would shut them down and cash out. Without an equally drastic rise in the price at around the same time as the drop in rewards the return from running a masternode would be dramatically reduced. Masternode owners shutting down and cashing out would cause the price to drop, further exacerbating the reduced income from owning a masternode and perpetuating the cycle. I am sure things would level out at some point, but the unpredictability and volatility would not be good for the coin as a whole.
.....
As we work on the PoS implementation that is still a few months away, We have been discussing some potential numbers for the Reward values for the PoS phase. We wanted to get everyones opinions, good or bad.. In the end this is a Community Driven Coin and thats the way we want it.
So here are some possible numbers, keep in mind that these are not in concrete, and are to stimulate some discussion. after a few days of discussion, if there are not any major issues i will post it for formal vote.
If for some reason you are not in favor, please explain why you feel this way.
PoS Phase 1: (50 DNET per block) Blocks 259201 - 777600 [518400 blocks per year] 25,920,000 DNET
PoS Phase 2: (25 DNET per block) Blocks 777601 - 1296000 [518400 blocks per year] 12,960,000 DNET
PoS Phase 3: (5 DNET per block) Blocks 1296001- 1814400 [518400 blocks per year] 2,592,000 DNET
PoS Phase 4: (2.5 DNET per block) Blocks 1814401 + [518400 blocks per year] 1,296,000 per yr there after
let us know your feelings..
So here are some possible numbers, keep in mind that these are not in concrete, and are to stimulate some discussion. after a few days of discussion, if there are not any major issues i will post it for formal vote.
If for some reason you are not in favor, please explain why you feel this way.
PoS Phase 1: (50 DNET per block) Blocks 259201 - 777600 [518400 blocks per year] 25,920,000 DNET
PoS Phase 2: (25 DNET per block) Blocks 777601 - 1296000 [518400 blocks per year] 12,960,000 DNET
PoS Phase 3: (5 DNET per block) Blocks 1296001- 1814400 [518400 blocks per year] 2,592,000 DNET
PoS Phase 4: (2.5 DNET per block) Blocks 1814401 + [518400 blocks per year] 1,296,000 per yr there after
let us know your feelings..
Food for thought, personally, I am torn. I agree that we don't want to have billions of coins in the long run, and that cutting the rewards once we hit PoS is the thing to do. My concern is that these numbers may cut them too much too fast. I can envision a scenario where as we approach the end of PoW knowing the rewards will drop many masternode owners would shut them down and cash out. Without an equally drastic rise in the price at around the same time as the drop in rewards the return from running a masternode would be dramatically reduced. Masternode owners shutting down and cashing out would cause the price to drop, further exacerbating the reduced income from owning a masternode and perpetuating the cycle. I am sure things would level out at some point, but the unpredictability and volatility would not be good for the coin as a whole.
.....
I agree with your points and i'm 100% sure most of the mn's will be sut down if its not worth to let them run.
however my problem: it is impossible to decide this atm for me. we have no clue how much a dnet will be worth if we switch from pow to pos.
i think we need a system to ensure that it will be worth (cover costs at least) to run a masternode at anytime or most of them will be shut down.
if we can do this (and pls don't ask my how
) we can cut staking rewards even more in my opinion.sorry if my answer is "out of course" again but thats how i see it and its is almost impossible for me to decide staking rates atm.