Given that v0.9 should be coming within the next couple months, I was thinking it may be a good idea to have a video created to explain the biggest change RFC 0011, which changes Peercoin’s minting process to give off more of a dynamic reward.
I am talking about a video that discards some of the more technical details, something that can be understood more easily by the general community member. It would explain what exactly is changing, why, how it improves the protocol, what benefit is it to them (higher minting rewards), etc…
This can be used to help educate the community about the upcoming change. There will definitely be many questions by those new to this, so it would be great if we could have a video ready to go that we could just link to when questions are asked.
@Nagalim is this something you would be interested in helping with?
I think backpacker is still working on implementation. Some of how it works will depend on some of the design architecture settled on. There are high level ways of discussing it, but I want to understand the technical details before I try to summarize them in a high level manner, rather than trying to gloss over details I might not know.
How much time out of the video do you think it would take up? Maybe toward the beginning after calling this RFC 11, it could be inserted to explain real quick what an RFC is, so it is understood what we are talking about, for people who have never heard of the term before.
How much time is the total video and how much do you think we need to explain for rfc11? Without going into technical detail, I think we are mostly just talking about inflation and some of the quirks of the proposal that the end user will experience.
Outline:
Intro
RFCs and the dev process (drop something in here about how hardforks are easier on Peercoin cause of PoS)
Inflation and how RFC11 helps achieve the ideal 1% PoS
Quirks, drawbacks, and how RFC11 stimulates continuous minting
It is difficult to know the time length we need until we write something, but I’m looking at something similar to our previous videos, 5-6 minutes. Less if possible, but not through sacrificing explanation and a proper understanding.
One of the most important things to get across to the viewer is that this can allow active minters to earn a higher percentage by minting than they are used to. They are used to only 1%, but this can go up to 5% from what I understand.
This is important to make completely clear because many complaints we receive from new members is that 1% earnings is too little to be worth the effort. Making this clear helps motivate these people to engage in the minting process once it is updated.
At the same time, we need to make it clear this does not boost the total supply beyond 1% per year. They need to understand that the total supply cannot be boosted up to 5%, only the reward of active minters.
The intro should make it clear to the viewer that we will be talking about the new change to the PoS reward, however we will interject first to explain the RFC process. This way they know the content featured in the title of the video is coming up shortly after a brief explanation.
I’m not a fan of prioritizing profit as the main motivator for this proposal. We cannot lose sight of the benefits to security that this proposal offers. Yes, they are intricately related to economics, but the economics add to the motivation to mint. Also, the economics are not solely located in the personal profit, but that a finite and predictable inflation is desirable for an economic system as a whole.
Oh yes. I did not mean to prioritize that one point at the expense of other important points, but just to make sure it is easily understood by viewers as one of the effects of the proposal.