Post
Topic
Board Altcoin Discussion
Re: Decrits: The 99%+ attack-proof coin
by
brenzi
on 06/05/2013, 07:25:43 UTC
Thanks for your detailed explanations.
Let's say the MB award is 50k decrits. That means at the first block, 550k decrits are produced, the second 650k, 750k... 1450k (based on increasing multipliers described here). All in all, minters create 500k decrits while 9.5 million are given away.
I'd appreciate it if you could set up a documentation page/wiki. Your references to other posts tent to be tl;dr. Especially if you only want to reference one sentence out of a long post.
Pseudo-code of your algo would be very nice.

OK, your increasing multipliers indeed address the problem of energy consumption. I didn't get it right before. But if your control algorithm for money supply reacts exponentially to demand, You are very likely to overshoot your target supply.

Let's bring in some control theory (Yes, I love to apply it to economics): A PID controller is very stable, if correctly tuned. As I understand your algo, it compares approximately like this:

P: Not used in your design
I: Is your link to energy use that should stabilize Decrits value in the long run.
D: Is what mainly determines your MB award and giveaway multipliers. As you even put an exponential characteristic to it, you should expect heavy overshoot. As Decrits money supply is monotonically increasing, one cannot really compare it to a control algo, as there will never be a negative delta on money supply. This way your money supply cannot oscillate around the target value but will just be stuck after overshooting and wait for reality to catch up (if it will).

I can't say for sure that it won't work out. But I suggest that you really simulate your money supply algo. If you give me pseudo-code (or write it in octave right away), I might be able to support you with this.