My numbers listed above are if all PoW blocks automatically have a small percentage taken out. It’s not a volunteer thing or about mining pools. Even a CPU miner would lose 5 or 10% if they mined a block.
mining difficulty would go down, blockreward up, the low inflation there is currently would be lost
1 Like
I think killing the incentive for miners of Peercoin (take 100% reward) would further make Peercoin irrelevant. Peercoin is still near the top of “whattomine” sites for sha-256 profitability. I’d guess that helps the market value. Miners need markets to sell which means they also have an incentive to keep prices at a certain level. PoS coins already have to get holders to counteract the hoarding impulse, that will make it worse.
1 Like
If you follow through the logic you’ll see what I’m getting at. By taking 10% miner reward, we lower some aspect of the security by 10%. Can we afford that?
A better thought experiment is not based on mint or miner rewards. Instead, it simply says that in addition to the current block rewards, there would also be an additional block reward that gives x Peercoin to a Foundation address. There, we can see that the only cost we can really afford to incur is the inflation rate. So the real question here should be:
Do we want to create coins to give to the Foundation?
If the answer to this question is yes, then this sounds remarkably like peershares, and why don’t we just merge that code?
1 Like
And this is the other side, the side I really wanted y’all to see. We are decreasing whatever this is by 10% if we do this.
This is a good point too, I didn’t even consider this.
1 Like
To be fair,
- taking 10% of the mining block reward breaks consensus rules, but doesn’t create additional currency inflation
- adding extra reward to the existing block reward breaks consensus rules AND adds to inflation (even more than the inverse reward to hash rate difficulty with Peercoin)
The latter affects the economics more radically (security seems less affected than PoW coins as long as there’s some regular entropy blocks). You could start messing with the minting reward too while you’re at it, but who knows who will go along. At least Peercoin would get in the news with a contentions hard fork 
1 Like
Giving 5 too 10pct of miner rewards too the peercoin foundation for devolpmemt and marketing will dramatically increase the relevance and value of peercoin and with the substantially increase the peercoin price which will lead too increased difficulty the devolpers now work for free which first isn’t fair too them and it severely hampers peercoin devolpmemt by not being able too compete with well funded coins when I see comments like I don’t care if peercoin is top 25 coin because of all the shit coins out there that’s my exact point the only reason a great coin like peercoin isn’t in the top 25 coins is because it’s devolpment and marketing isn’t properly funded donations don’t work it didn’t work for vertcoin they made the switch too receding percent of miner rewards and the coin sky rocketed bottom line as long as taking pct of mined coins for devolpmemt isn’t a security risk then it’s a no brainer if you want peercoin too be relevant and have a high rank on coin market cap then you should be in favour of the 5 too 10pct miner rewards going too devolpmemt 5 pct would get the job done because peercoin will go above 25 dollars when it’s devolpmemt and marketing is properly funded
I believe organization is far more important to these goals than funding. A concerted effort from the community to get engaged would be much more beneficial than us looking to third party miners for help.
2 Likes
Hey this is the era of Trump:
- Get your name in the papers, no such thing as bad press, just make sure they print your name right
- Don’t be afraid to break stuff, someone else will clean it up
- get that money
- Profit!!
Nah, seriously, i think the simple proposal is 5% to 10+% block reward. But if no one knows how to spend it or take ownership, it doesn’t matter. Need vision and skin in the game.
If you really want Peercoin 2.0, keep the chain, but change up all the economics - inflation rate PoW vs. PoS, etc.
You’re talking about the custodian grant feature of Peershares, correct?
Let’s put the issue too,a vote using 5 percent of mining rewards going too the foundation it’s a no brainer it will overwhelmingly pass since anyone who wants peercoin too be relevant will be in favour of it just like they were at vertcoin you can’t compete in this environment in crypto with out being properly funded donations do not work
Yes. Why do this per block instead of as needed? If we are going to consider this, we should consider all the options. Perhaps there is a much more elegant way do this, maybe even a way that makes it easier to fit in with the legal structure of the Foundation.
First, the board members would vote. Then, the minters would vote via the hardfork. Then, the miners would vote with their feet. At no point would the forum community get a vote. You could always do a poll for fun I guess.
I also feel like you are entirely ignoring a ton of pertinent concerns, so it’s probably a good thing there are additional checks and balances to this.
2 Likes
We need too save peercoin from irrelevance were too good a coin too have dropped from 100 too the bitcoin too 4000 peercoin too the bitcoin let’s make peercoin great again seriously we need too do,this
I rest my case.
Nohea we trust the foundation now so why not trust them when there properly funded we need give the peercoin team the funding they need they’ve never asked for it but they should have the result is an endless drop on peercoin relevance out side of this forum no one cares about peercoin we can change that if you build a better mouse trap the world beats a path too your door
This is an interesting solution I hadn’t previously considered and Sigmike knows all about how to implement it. My concern though is how easily could it be abused? Is it possible for example that one of the larger exchanges with lots of PPC deposits could mint their coins and create a grant?
Yes.
Honest exchanges do not mint, ie. TheRockTrading and Bittrex. Poloniex never stated what do they do and how do they run the thing.
However, know for sure that one exchange in particular is no stranger to minting and then dumping the rewards on traders. That one holds significant amounts of Peercoin as well.
1 Like
You can add restrictions such that it requires both minter and miner participation. This would simulate the consensus requirements of siphoning mining rewards.
2 Likes
The question then becomes: are miners visiting our social media channels or this forum to know they have the ability to vote? Or is it just necessary for the pools operators to pay attention?