Quote from: keccak512 on April 09, 2014, 03:32:26 PM

Quote from: cayars on April 09, 2014, 03:01:20 PM

.... want to understand how the transition of limit to sustain is going to work in the real world and is going to want to understand the logic behind this sudden block reward drop from the devs.

You keep saying there will be a sudden drop in the block reward as we enter into the sustain phase. All of this is speculation, whereas in reality it depends entirely on decentralized voting.

Although the max vote will certainly drop in the sustain phase (a requirement for assuring the long-term duration of the sustain phase), no one knows whether decentralized voting will have already reduced the block reward during the remainder of the mint phase and limit phase.

It is entirely possible that the block reward vote will already be significantly lower than it is now before we draw near to the sustain phase, in which case there would not be a significant drop. During the limit phase the block reward could be voted down to double digits, in which case there would not be a sudden drop. Similarly it is also possible (again depending on voting) for the mint phase to continue on significantly longer. For example, if miners dropped their vote from 512 to 256, this would double the time until the limit phase.

Finally, whether such a block reward drop (if it would happen) would be good or bad is debatable. Overall, we will not interfere with the decentralized block reward voting. It is completely up to the voting how long the mint phase lasts and how much HVC is mined in the limit phase. That was our promise from the start and we will stick to it.

Thank you for this response. What I've been asking for.

Yes you are correct I keep saying "sudden drop" because that is what I think is going to happen. Would you agree with the following 2 items:
Regardless of any voting being done the sustain phase will pay out AT MOST 8 HVC per 2 minute block?
Current reward at present is 582 HVC per block?

We are just about exactly one month from launch and we have a supply of 23,096,642 HVC.
The mint phase consists of 45,000,000 HVC so we are just about half done the Mint phase with current voting. This leaves approximately 1 month at current voting left in Mint phase.
Limit phase is exactly 56 days and will contain exactly 63,476 blocks.

Now the tricky part. The voting will determine the reward per block during this 56 day period correct?

Now I agree in an ideal world and if everyone works together properly the limit phase could allow a transition from the current block reward down to the 8 HVC block reward which really needs to happen wouldn't you agree for a smooth transition?

I keep saying a "sudden drop" because I think people are being greedy and just trying to get as much out of the coin as possible right now without worry later. If everyone works together we could be fine as long as the value during this 3 month period increments at a proportional level to the smaller and smaller block rewards.

If things don't change and people keep voting at present levels, (what they are voting now), what will the block reward look like during the limit phase?

Thanks,
Carlo