Re: [ANN][SYNC]X11 | POS| 1,000 Coins| Mandatory Update - HARD FORK AT 2.6.2014
No, it wouldn't. Interests per month would bring us there very, very fast. 3-4 months in fact, and that would be too fast.
New suggestion: 100% interest per month the first month, then reduce by 35% every month per month. As in, multiply the last months interest per month by 0.65.
That would bring us close to maximum number of coins after the first year, and then just stay there after 3 years.
I had been previously referring to the current interest rate which is 100% per year, not per month. If you start with 100% per month and reduce the interest to .65 monthly, the final coin supply would hit 17,131 at the end of year 1 with a final cap of around 17412. This is based on compounding interest continuously which is the closest match to the staking process.
It has been mentioned before, and I agree that the rate should not be time based, but based on the # of coins in existence. We are currently wagging the dog by the tail, though - instead of tossing around random formulas, we first need to determine two things:
- Is the final supply in fact going to be 10,000 Sync?
- If so, roughly how soon should that limit be reached?
Once we have the answers to these questions, constructive suggestions can be made about the method used to get there.