You are viewing a single comment's thread from:
RE: Gridcoin StakeV8 in effect for 4000 blocks: stats and analysis
You say you didn't sign up to that system but then you must not have read the Gridcoin home page because it's one of the main selling points. Earn 1.5 % APR.
I do agree that inflation could get out of hand and that there should have been some ratchet where the interest gradually decreases to nothing. Either that or fixed block rewards that reduce over time.
However, In order for it to go to nothing, there would need to be a lot more transactions and the fees would need to be higher otherwise there would be no incentive in keeping the wallet running or to secure the network.
Fixed block reward does not need to reduce over time, cause block per day is constant. It is the "coin*age" interest that is actually increasing: every day, there are more coins and from these coins, even more interest is paid. The "coin*age" interest creates exponential inflation, while BOINC rewards inflate linear, therefore interest is bound to take-over research at some point in the current system.
Yeah, changing to fixed block rewards would be good but it will make it even harder to stake so I thing we need to come up with the best solution for easily rewarding researchers first.
If that is one of the main selling points, we may as well sell up and leave. The research should be the only main selling point. Everything else is extra. Without BOINC, GRC is utterly worthless.
Make an announcement to take away all interest in the next release and see what happens to the value of the coin.
It is exactly the model GNT, SPARC, etc operate on. I don't see why GRC, being the only coin with an established research platform, would suddenly fail like that.
I am not saying we should remove POS, but it should not be the focus in either development or marketing.
Can't argue with that :-)