Post
Topic
Board Announcements (Altcoins)
Re: [ANN][CSC]♠CasinoCoin v2.1 ♥ 2.8 Yrs Old ♦ NEW SandCoins - Two Brands One Chain♣
by
CartmanSPC
on 07/06/2016, 19:24:42 UTC
This block reward decrease is mostly about eliminating the dilution and providing a 30 year incentive to continue mining. If we were to mint all coins within 3 years, miners would only participate with higher minimum transaction fees. Fees like that could cripple a coin before it gets off the ground.

There we go...a valid point to reduce the reward. "To extend the amount of time before relying on fee's to support the network." Currently (I don't know what fee's are implemented but I don't think much) if the block reward were to go away there is not enough incentive in fee's (no one is really using this coin in any significant volume) to have anyone continue mining. The coin would basically be dead. It's hard to look ahead 3 years but I would imagine the volume of transactions would not be sufficient to generate enough money for miners in fee's.

So we are proposing to change the reward structure to extend mining out to 30 years. We are not proposing to change the overall supply (again)...just extending the time it takes to get there. I'm cool with that.  Smiley

That does not solve the issue of our relatively low hash rate but will leave that discussion on the table.