you may have stated that when asked, etc.
but that was not stated in the specification
also, when the cap is reached, the blockchain does not need to stop - it can continue as long as there are nodes working, and those nodes can be incentivized via
(a) transaction fees or forging fees
(b) part of the fees from the trading/barter network can be donated to a pool from which mining rewards are paid
The irony is if the "value is in the network" then the network activity should be able to support this coin via fees; the purpose of a coin is not to be mined but to be used - mining is never to be an end in and of itself, but rather as a means to support use. If coin is not generating fees from USE then it should not be mined and should die. If community truly was strong it would donate nodes to keep network alive after cap is reach (I know I would) It would be better to simply come up with another coin rather than change the specification w.r.t. maximum cap
simply changing the cap because a maximum amount reached is, to put it kindly, really very sloppy and ill-advised, and removes the meaning of a cap in the first place
I can no longer support this coin - I am selling out my stash
but I wish you the best
Current PoW reward is 0.78125 Bata per block. So the money supply will not be reached anytime soon. Since the halving of the reward happens every 100 000 blocks the money supply will be reached somewhere after block 1.8M when the PoW reward is 0.00009536.
It has taken 20 months to reach block ~550K, therefore block 1.8M is approx. 3-4 years away before we reach coin supply.
The type of PoS proposed for Bata will add a maximum of 225000 Bata per year assuming all wallets are staking (not likely to be achieved).
So adding to the total coin supply would allow the coin to introduce a higher minimum block reward for PoW AND/OR a modest PoS reward to keep stability in the network.
Relying on pure PoW mining when the coin supply is reached has not been very successful for other coins that have reached their coin supply.
We will see how the PoW participation scales as the PoW rewards continue to decrease. If the value of Bata continues to rise, then yes, PoW mining will continue to support the network. But if PoW mining participation drops enough to only a couple of pools, then the stability of the blockchain will become an issue. At that point, extending the coin supply to increase the PoW mining reward or implementing PoS will be needed to maintain the network stability.
Nothing is iminent at the moment, but there is planning going on to prepare for the possible scenarios.
We will always look to ensure that BTA is community driven to empower.
Timing is the key, watching, learning and listening.
Thanks Midnight.
Thanks also to those who have supported BTA in the past, present and future.