Guys I invested in waves from beginning exactly of the reason we do not have inflation at all, no emission of new coins - inflation in the long run makes prices of waves lower on the market, which makes transactions more cheap but does not increase amount of transactions (they are cheap now as well) and in the end reward in fiat will be lower. Where is the guarantee that earned waves won’t be used to flood the market with newly earned waves? If we compare annual increase in waves only then yes you have imaginary increase on year basis of about 5% but amount of waves in circulation will be also increased by 5% which probably will be on the market. Now small calculation: If waves team proposes that with this change about of 10% Waves will come and start mining also meaning that the same 10% will be back on exchanges because of the inflation we have on the price of waves token its self. Who is going to uphold the earned waves when the price on currency dropping and continue to drop by the means of inflation?
I still believe platform should continue to work on attracting new users to platform who will create new transactions - this is the only way of making waves more profitable without introducing inflation. Don’t forget that even Etherium is thinking also that amount of Etherium is very high already.
If you still are going to continue with this proposal as it is i’ll vote against it even it means to receive less income in near future but in the long run with increase of transactions community will win and demand for waves will increase. Don’t forget that we can increase cost of transactions for now as a mean of reward increase. As the price of the waves for fiat is at it lowest its just a proper way to deal with it - let’s say we fix minimal transaction cost to some level in fiat, and that’s it - we have sufficient model which will allow us to decrease fees if required, but minimal level cpuld be set (ie at half of highest fiat value, meaning that tx feed could be increased right now by 6 times - which will have absolutely same effect on amount of reward lessors will receive and as we price of waves rises, fee of transaction decreases untill waves are at its fiat level and after that transaction will stay on fiat level with possible miner voting to increase this level)
I might consider to vote in favor for inflation option only if:
- amount of key blocks emitting new waves will be limited by 25 blocks per day per node (that way will at least increase decentralization) - meaning that right now only about 1/3 of all generated block will create new waves, but the urge for decentralization will also be increased (similar idea as a node program support).
- emitted waves can be transferred/sent/spent only after 100-250k blocks but will participate in generation of new blocks right after they are created. That makes a mechanics to use waves to generate more waves and probably that waves will be left for generation.
- we can vote only in favor of decrease of rewards. We cannot have a model where we could destroy deflation system.
- amount of waves created per block could be lower than 6 waves (2-3?). 6% per year is damn very high…
And also please explain what means:
3) Use of the coins by the miner
A miner receives a reward when they create a key block. The miner must be able to use the received reward in the first transaction of the first microblock created after the key block.
Does that mean that miner should distribute the created coins right after they are created?