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    Author Topic: [ANN][MUN] Muniti: First touristic cryptocurrency - X11, D2D - Multi-algo soon  (Read 120487 times)
    coine_smithe
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    May 12, 2014, 09:54:51 AM
     #821


    Ordinary people would think 16 MUM has lower value than 156 MUN even though the total number of currency in circulation is lower. So it is better to keep the total number 76M(?) same.

    My suggestions:
    1. if we decide to go PoS, the total number of MUN should be the same.
    2. At the start of PoS, give interest to the mined (PoW) coins using the interest rate (double, triple or what ever) so that those PoW mined coins would be the same as the total intended mined coins (50.92M). So the proportion is the same 67% (100%-1%-32%) of total coins. This process would exclude the premined coins because they are already the right number of coins. At that time point, there will 76M MUN in total.
    3. Same interest rate applied to all the 76M coins (premined+mined with PoW) after the start of PoS.
    4. In the PoW period, we can still reduce the subsidy 1% per week.

    With the above process, we can start PoS at any time, and keep a fair distribution of coins with PoW mining.

    That seems like a really complicated plan for PoS implementation. It would be a lot simpler to just increase block rewards and get PoW done really quick and then just go to PoS. If we are to keep 76 million total I think that would be a more elegant solution. Just my two cents.

    If we just increase the block reward to keep the 76M total, then it is unfair to early PoW miners. That would devalue early miners' coins dramatically.

    Ya that's why I think it's better to have one last week or so of PoW and just go to PoS and adjust the premine accordingly. That would draw a lot of publicity but still reward early miners. As for the number seeming low value to people, they are going to look at the exchange rate anyway. I think we are babying people too much in that assumption and thinking they will be too dumb to figure it out. Plus using "bits" is better anyway than focusing too much on coin totals IMO.

    I'm confused what the plan you're suggesting is. Are you saying to keep the current PoW 1% decrease every two weeks? That would mean the total coins are reached in roughly 10 years. That seems to defeat the purpose of switching to PoS.

    I mean keeping the 1% decrease during the current PoW mining. When the PoS starts, it will stop.

    Your proposition is the same as mine if you adjust down the premine proportionally to achieve the 33% proportion. The difference is that my  proposition is to adjust up the PoW mining to achieve 67% proportion. But my suggestion can keep the 76M coins.

    Ok I see what you're saying. That might work. Just make PoS interest really high until the 76 million is reached? That would still reward early miners I see what you're saying. I still think it would be good to ANN this to the community and have a week or two for other people to come mine at current rates. It would give early miners the most reward once the high interest rate started. I think it should be very short to have the high interest rate so that the market can react. If it lasts too long they will get bored of it.
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