Matthew Beton [ARCHIVE] on Nostr: 📅 Original date posted:2017-08-22 📝 Original message:Okay so I quite like this ...
📅 Original date posted:2017-08-22
📝 Original message:Okay so I quite like this idea. If we start removing at height 630000 or
840000 (gives us 4-8 years to develop this solution), it stays nice and
neat with the halving interval. We can look at this like so:
B - the current block number
P - how many blocks behind current the coin burning block is. (630000,
840000, or otherwise.)
Every time we mine a new block, we go to block (B-P), and check for stale
coins. These coins get burnt up and pooled into block B's miner fees. This
keeps the mining rewards up in the long term, people are less likely to
stop mining due to too low fees. It also encourages people to keep moving
their money around the enconomy instead of just hording and leaving it.
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📝 Original message:Okay so I quite like this idea. If we start removing at height 630000 or
840000 (gives us 4-8 years to develop this solution), it stays nice and
neat with the halving interval. We can look at this like so:
B - the current block number
P - how many blocks behind current the coin burning block is. (630000,
840000, or otherwise.)
Every time we mine a new block, we go to block (B-P), and check for stale
coins. These coins get burnt up and pooled into block B's miner fees. This
keeps the mining rewards up in the long term, people are less likely to
stop mining due to too low fees. It also encourages people to keep moving
their money around the enconomy instead of just hording and leaving it.
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