Quote from: develCuy on July 21, 2017, 12:49:44 AM

Quote from: weisoq on July 19, 2017, 07:58:53 AM

Quote from: develCuy on July 14, 2017, 07:12:27 PM

DISCUSSION ON THE FUTURE OF DEVCOIN
...We are not starting from scratch.
...need a fair system that ensures we are rewarding people that are actually serving the purpose of Devcoin...

As Sidhujag noted, if you plan to fundamentally modify generation and distribution then need to start anew. ~14bn existing supply so perception & economics of a change won't fly otherwise:

1) Would look dodgy.

2) Wouldn't make sense to expect fundamental change. Already constant generation = falling rate of supply growth as a percentage of total per period. Simply adjusting that lower means very little at this point (relatively tiny numerator/relatively huge denominator).

3) If you do it anyway and maintain current framework, need to recognise that price is basically pegged to an implied monetary measure of work via distribution. This is primarily a quality/community/enthusiasm/acceptance problem, not a technical problem.

i.e. DVC/BTC currently = Implied $ value of a share/(DVC per share/(BTC/USD)). Getting DVC/BTC higher requires increasing $ value of a share and/or lowering DVC per share.

4) If you do it anyway and maintain a [different] generation/distribution framework you need to seriously consider how you'll overcome (3) and how legacy supply and perception will feed into mechanics and assumptions about the future.

I have two ideas in mind:

1. Start anew radically, everything from scratch, kill the old DVC, people should SELL all their current DVC stock to preserve a bit of their money
2. Make a hard cut. Implement a DVC RENEWAL SERVICE (DRS) where people can "submit" their current DVC so that it gets converted into the new DVC

#2 makes more sense for me. BUT we should set a conversion rate that pumps the new DVC up. For example a relation of 10,000 to 1. For every 10 thousand OLD DVC sent to DRS, you get 1 NEW DVC back. Maybe it should be 100K or 1 million, I'm open to proposals!

Lets say that DRS is implemented. On every round the new DVC Rewards Distribution System (RDS) should pay to the following FUNDS:

1. Fund to Convert OLD DVC into NEW DVC
2. Fund for Open Source Projects and Assets (Devtome?)
3. Fund to pay the staff (core team, mirrors, nodes)
4. Fund to pay miners

Then we have to figure out the Inflation Rate Strategy (IRS), how much DVC should be generated on every round? Should it be static or variable like STEEM?

Why do you need to keep old DVC alive? Currently there are no possibilities to sell DVC say for amount of 1 BTC - whole Coinsource have no such buy support on DVC pairs.
For option 1 this will be just a new coin. In this case it should be a ICO on any notable f. Basically it will give all the options you have mentioned in option 2.

In reality - the new coin with the old Idea is the only option that can succeed at the ICO funding. With new protocol, new features, new RDS and IRS in place. Basically we can start with new whitepaper and get and strategy for ICO. But do we need the old Devcoin with all these "premined" (from ICO point of view) coins?

Just keep in mind that it will be much more easy to build a new coin from a scratch then to try keep old coin alive.

So, in general, there only one option - to kill old coin (not kill, actually, but not to try give it a new birth - with merged mining it will be alive for some time in any case) and start a new one.