Quote from: smooth on June 13, 2014, 05:01:55 AM

The block penalty is miners (mostly pools) being stupid and burning their own coins, something you can't prevent with any coin. For example, minergate is still using the old code with larger penalties. You can't stop stupid.

Is that whose been ~~doing~~allowing those tx's? I guess I'll stop mentioning them as a pool for people to use unless they can convince me that there's some logic to using the old daemon. Wierd that they put so much time into development daily but don't update that .. maybe there's something behind it? It does seem pretty stupid.

Quote from: smooth on June 13, 2014, 05:01:55 AM

The total number of coins doesn't even matter. You can have a coin with 17 million or 17 billion. It's all the same thing except the number of zeros.

It's just an interesting mechanism to me really. What purpose does it serve? People will issue transactions probably using more space than they need, miners verify the transactions without regard to their subsidy and profit, and an investor providing liquidity in the markets now will ultimately profit more in the future because the investment could be worth as much as 109% more than planned when subsidy drops to zero. I don't see the necessity .. why not just limit the block size and have no penalty? I'm sure there's something I'm missing thats simple otherwise it wouldn't be done at all.

OTOH, people could seek to maximize block size on purpose, miners can just deny all tx's because they won't know if it's on purpose or accident (anonymous) and verify zero tx's at all and just continue to mine blocks. I'm just not seeing where decreasing subsidy makes any sense at all .. do you know?