jkoil, you are not making any sense at all.
Just like the other disgruntled user, you accuse of fud, while you dont even understand half of the conversation.
Of course it is easy to make such a change, noone denied such a thing.
A whole lot of users are not accepting THE REASONING behind the change.
And since (the last month?) only 30-35 accounts agreed with it.
Dismissing the rest and saying that they (the 35) have more say than the 3000+ is utter nonsense and you seem to be defending them.
So tell me, wise jkoil, you who asked a month ago, and know so much of the distribution process,
DO YOU have a reasonable argument as to why make such a change, except for the extra coins you will receive?
(the groupthink is strong with this one, i said it before_i say it again)
While I agree that we shouldn't double the supply I do not agree with your reasoning.
A very small part of the stakehodlers agreed to the change that is correct. However all of them had the chance to vote and the ones that don't bother to vote are people who shouldn't be considered. The majority of people who give a flying fart about that topic are in favor of that change. We may have thousands of stakeholders but the community is a lot smaller than that so you can't reason that not all of the thousands of people voted and so the result is dismissable.
I'd actually like to bring the idea of a very minor inflation of below 1% payed out as block rewards back on the table.
Why is that such a bad thing ? Inflation is being portraied as pure evil but a very minor inflation can be a good thing especially if it's used to strengthen the network.
it depends on the source of inflation and where/who the New coins go to.
If you mean rewarding nodes that are securing the network and using sock stakes for this that is an exceptional idea and I'm 100% for that.,
If you mean just a bot making transactions with x nem as a fee in each block then I don't see the issue here eitwe as long as it isn't an over the top reward. It would have to be a trivial amount. 1% per year is trivial when considering that many nations have 3-5/6% inflation, possibly more. And bitcoin having a vastly 10%. Inflation under the correct circumstances is very healthy for the economyname does promotw
Using sock stakes for that wouldn't mean any inflation as those coins already exist at nemesis.
What I'm talking about is using an inflation of <1% per year for paying people that are running nodes.
Not even as block rewards but as node rewards. So even people with a very very small importance have an incentive to run a node. At some random time some random node will get a reward if he's harvesting. No matter what his importance. All that matter is that he is harvesting at that time. Since nobody knows the time you can't just turn on your node at "reward time" to join the pool.
Of course there are prob some kinks that need ironing out but imho this wouldn't be a bad idea.
This a really amazing idea to me. I figured out that if there are 4 billion coins that 0.1% inflation per year could go as a node reward no problem, possibly even more. I think nobody can really get upset about a tenth of a percent of inflation. The plus side is that would be just a little over 10,000 NEM a day. If the amount of coins is 8 billion, then that number goes up to 20,000 NEM a day. This actually is a kind of nice amount of NEM.
I think the best way is that once a day, always at a random time that nobody can know, a network sweep is done for nodes and that 10,000-20,000 NEM is divided equally between all nodes, rich or poor, all alike would get a reward. I could even easily double those numbers and not even think twice about it. This could also dramatically cut down on the whole "faucet" thing. Instead of people going to some website and going through silly motions or putting a silly signature on their profile, they can just leave a very lightweight client running in the background and get free coins.
For instance, I once checked into NXT and found out they usually have less that 200 hallmarked nodes at any time (hallmarked nodes are the ones your really need because while anybody can forge, only hallmarked nodes support the network). One reason for that is that in NXT making a hallmarked node is very difficult and only really for the more advanced techies. But in NEM getting the node to be hallmarked is like 10 times easier (still took me a bit to figure out and took many tries, some clear guides with pictures and steps on how to open ports on different popular firewalls and routers would go a long way to making it much easier). It would be sooooooooo awesome to say that NEM on week one had more nodes up and going than NXT. And what would the cost be? Very very little in the way of inflation.
If I had to give it a name, I would call it proof-of-support.
I can tell you right now for a fact 100%, that if I could have gotten 20-100 NXT a day just for leaving a client going, I would have had it running in the background of my computer all the time, anytime I had the computer on. I also would have been much, much, much, more active in their community. After a long time in NXT, I forged three blocks, all for 0 fees. Made me so frustrated I turned it off and started looking at their forum far less. How many more people were like me? NXT's system is set up in a way where the rich just get richer. We have a chance do do something about that here and give regular people a chance to become something too, especially if they are in on NEM early.
One of my majors in university was Psychology. It has been proven time and time again, if you get people to do a little something for you, they are more invested in you and will do a big something later on. This is one of the oldest tricks of manipulators around the world. New religious movements do it constantly. Those people that come knocking on your door trying to convert you, the church doesn't send them out to your house for your salvation. The church sends them out to your house to solidify the faith of the person knocking. That is why there are always two, an established church member and a newbie. The newbie by knocking on the doors becomes soooo invested in the church that they are much much more likely to give the church money later.
The Mormoms famously send out all their young for two years to proselytize. After this intense experience, they are much more likely to not ever leave the church but instead more likely to donate money to it. It is one of the richest churches in the world because of this despite being so small (I have another degree in world religions).
My point is, if we can get people running NEM in the background, they will be much more likely to follow our posts, join the community, and even contribute more. A very small inflation of less than one percent given to people that support NEM would actually make NEM much more valuable, not less valuable.
I support this idea 100%.
Let's be careful with the word inflation. People hate inflation for good reasons. Inflation is the hidden way for governments to tax the people. So depending on you view about tax, it is good or bad. If the collected tax is for the benefit of society you might call it good. If it is collected by a corrupt political elite well you know the answer...
But inflation is not a normal tax. It is the expansion of the money supply. And in the present day world the expansion of the money supply is not primarily done by the state but by commercial banks who are also the beneficiaries of this system of money creation.
And 1% inflation is exponential growth. It means the amount of NEM coins will double in 70 years to NEM 16 billion and NEM 32 billion in 140 years.
