What is the projected end or reduction in POW mining? Proof of Stake only is the way to go IMO but has to be done right. If you have POW mining you have constant sell pressure but if it is POS only, along with a solid fee structure, it can be proportionally more rewarding to be an early adopter. Also, have you thought of the idea of possibly swapping the Blockchain for a new one at some point in the future in order to trim off a large portion of Blocks?
40 second Block time is fast and also will carry alot of bloat, Mintcoin has this problem with a 30 second Block time, what can be done in order to eliminate or reduce the amount of data within the Blockchain over time?
See my previous post:
https://bitcointalk.org/index.php?topic=771755.msg9046471#msg9046471There is a long time to go on the POW phase yet but there are not many coins created (relative to other coins). 8 per block which is 17,280 coins per day.
Possible approach: end POW phase early meaning sell pressure off plus fewer coins that ever exist. Requires a fork though I'm guessing. Could trim the blockchain at the same time. Not sure if any of this is necessary though.
Thoughts anyone else?
Hmm, was looking at your math which is a bit off because you are assuming that every block is a POW block so you would have approximately 3,150,000 coins generated through POW a year for half the blocks, plus up to a maximum of 2% a year for the other half so over 10 years, it should produce around 31.5 million POW coins plus around 1-2 million POS coins plus the 30 million current supply (the unspendable address counts to supply) for an estimated total of 60 million max supply after approximately 7-7.5 years (36.9 Million real supply).
The last POW Block and the 31 million generated is more than the max money? I am under the impression max money is more used only as an upper limit never to be reached?
Yes I did just take into account the POW blocks to get a broadly accurate idea of the supply. I assumed that MAX_MONEY would act as a cap within the code but I don't know that for sure. Might take a look around the code but coin code seems pretty hard to follow.
I also didn't take the unspendable into account, not sure why you are? Could you explain?
This coin has a relatively low reward for a relatively long POW period which in my view is much better than most coins which create masses of coins in a short time period. The important question you raised is the one regarding sell pressure from mining. Do you think 17,280 coins per day is too much in that it will be enough to maintain sell pressure for a long period of time?