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Kredits (XKR)

COMMUNITY INITIATIVE BRINGING NEW LIFE TO KWAGSH

Emission rate problem

 
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Emission rate problem

Post by Ough » 26 Sep 2018 12:14

Kwagsh's original legacy dev, who since abandoned the coin, miscalculated the coin's emission rate badly:
It already has almost 70% of its total KGH supply mined out in just its first 6 months.

We don't need a crystal ball to see why that's an issue. But now we move forward and want to put the coin back on the right track with its upcoming relaunch under the new Kredits (XKR) rebranding. So the question is: What can we do to fix this situation?

First, the emission rate clearly needs to slow down.
Perhaps to something like 19, or some other formula whereby half of all coins get mined within the first four years.

Second, what to do about the huge supply which has already been mined?
Do we swap 1:1 or is a different ratio preferable for all of us?

As a miner myself, who has mined a not-insignificant amount of KGH, my initial instinct is to seek the full 1:1 KGH:XKR swap, so as to obtain the full amount of new coins that I hold of the old. At the same time, I also prefer a coin with a future: A coin which can generate interest from new miners and which can attract users and buyers at a reasonable price. Suggestions?

 
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Re: Emission rate problem

Post by AverageJoe » 26 Sep 2018 15:14

1. Slow it down.
2. Swap 10:1
Problem solved.

 
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Re: Emission rate problem

Post by Ough » 26 Sep 2018 15:44

AverageJoe wrote:Swap 10:1
Isn't that a bit radical?
As a miner myself, I personally don't agree with that, even if each individual coin will be worth more because of a lower circulating supply.
I could, however, be convinced to consider a less radical swap if 1:1 is not the best idea.

 
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Re: Emission rate problem

Post by S7nAcks » 26 Sep 2018 16:55

Not all of coins will be swapped either as people have either moved on, lost wallets, gone missing like the original dev, etc... 70% or 70 billion is a lot to swap. We need to figure out what a good premine/genesis block amount is that we will use for the swap. Is that 1%, 5%, 10%? I think we need to find out how many coins people are wanting to swap first and then figure out the emission rate and swap ratio.

I see two options here:

Option 1 - We set an amount of the genesis block we will use for coin swap, set the swap ration, and emission rate. Launch Kredits and swap the coins. The genesis block and swap ratio would have to be large enough to handle the 70% (70 billion) coins. A lot of guess work will go into this. This could potentially leave a lot of coins unclaimed. We would either need a larger genesis block, or a smaller swap ration for everyone.

Option 2 - Start the swap process before we launch Kredits. Once that time frame is up, we determine the swap ratio, emission rate, and set the genesis block size accordingly, then launch Kredits and swap everyone's coins that submitted within the time frame. This would be a smaller genesis block and/or a higher swap ratio for everyone. May help to lessen the pain for those that have already mined and invested in this coin. We may find that we only need a 5% genesis block that will cover a swap ratio we are all happy with.

 
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Re: Emission rate problem

Post by samvicky » 26 Sep 2018 19:37

1:1 swap will kill the coin at the first day of coin launch itself, even if we come past that and got listed in an exchange, half of the coin supply will be dumped. This will really kill the coin. The swap will be at a high ratio, To ensure that the coin's survival. Think rational. Think about the bigger picture.

 
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Re: Emission rate problem

Post by Ough » 26 Sep 2018 19:48

samvicky wrote:1:1 swap will kill the coin
Probably, yes. It is too tempting for a miner, but the big picture is more important.

So what are we looking at here, since 1:1 is coin suicide?

2:1 or 5:1 or 10:1 or 20:1 or......?

We're probably NOT going to vote on this swap ratio. It is better to let the dev team make that final decision, but after getting some input and discussion from the rest of us.

(Just remember that coin supply is the same 100 billion as before. That has already been determined by community vote.)

 
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Re: Emission rate problem

Post by Karsen » 26 Sep 2018 21:40

I agree, a 1:1 might kill the coin, but a radical change might also do it, if we do it, i would say 2:1 cause wouldn't be too bad and should be the most acceptable one by the community, and should fix the circulating supply by bringing it down to somewhat around 35 B in circulation

S7nAcks seems to be on to something and i think from what he suggested the second option would be the best, by doing the swap before the coin launch, because there might be alot to stay unclaimed, we don't know for sure how much it will be, unless everyone wants to do a survey on the ammount they have, so we can know before hand what to expect or at least have a small glimpse.

The other option we could consider, would be to terminate the mining fase, and consider entering a POS fase.

 
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Re: Emission rate problem

Post by Bizzo » 27 Sep 2018 08:36

A to big premine is most of the times not really attractive for miners, i'v been reading and checking out new coins since a year on Btcointalk and i think a small premine like 1-3 % is good so you have some coins to go on an exchange and cover other costs for like the server and coin promotion because i see when you have no money promoting a coin will be a problem.

 
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Re: Emission rate problem

Post by Karsen » 27 Sep 2018 13:35

The thing is Bizzo, this isn't a Premine, the coin already exists for a few months, we are talking about what has been mined already, and what % of that mining will pass into the new chain, and we have to consider the costs some people had mining, and what is fair to cut down seeing there was a massive block reward.

 
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Re: Emission rate problem

Post by AverageCitizen » 27 Sep 2018 15:51

Emission curve examples and ongoing discussion can be found here.viewtopic.php?f=9&t=36

 
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Re: Emission rate problem

Post by Ough » 27 Sep 2018 15:56

AverageCitizen wrote:Emission curve examples and ongoing discussion can be found here.
viewtopic.php?f=9&t=36
Impressive work. You are far from average, citizen.

Everyone, do check out AverageCitizen's findings:

Emission Logic for XKR

I think we all want our assets to grow in value, and this sort of input helps us get the coin back on track.

 
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Re: Emission rate problem

Post by Ough » 28 Sep 2018 04:06

Stats as of 28 September 2018:

  • Total coins in the network: 68,715,299,000 KGH (out of 100 billion total supply)
  • Emission: 68.7 %
  • Block Reward every 2 minutes: 441,559 KGH
Source: http://explorer.kwagsh.online/

 
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Re: Emission rate problem

Post by ZeilerCD » 01 Oct 2018 12:47

I would prefer the 2nd option - do a swap with a time frame PRIOR to going live online - helps those that actually care about the coin and are following the news of it and spent time and energy mining it etc, and then helps the coin to lower the emissions etc.
definitely need to slow down future emissions - cannot be mining millions of coin a day... that will kill us for sure
and will review the other chain - sorry - i've been sick for last few days.. so i've not been actively here :(

 
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Re: Emission rate problem

Post by AverageCitizen » 02 Oct 2018 13:36

ZeilerCD wrote:I would prefer the 2nd option - do a swap with a time frame PRIOR to going live online - helps those that actually care about the coin and are following the news of it and spent time and energy mining it etc, and then helps the coin to lower the emissions etc.
definitely need to slow down future emissions - cannot be mining millions of coin a day... that will kill us for sure
and will review the other chain - sorry - i've been sick for last few days.. so i've not been actively here :(


Hope you're feeling better.

 
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Re: Emission rate problem

Post by Ough » 11 Oct 2018 13:31

Just an update to put everything in perspective and make the problem clearer:

Kwagsh (KGH) was launched 25 March 2018, i.e. just over six months ago.
As of today, nearly 73% of its total coin supply has already been mined.

At this rate there will soon be no more coins to mine. No miner will go for just the tail emission, seeing as how there is a glut of already mined coins in the market already. This will effectively halt the chain.

Follow the numbers in realtime here:
http://explorer.kwagsh.online/

 
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Re: Emission rate problem

Post by Karsen » 11 Oct 2018 14:43

Me and Citizen have been discussing it on the emission logic post, any new points of view are welcome viewtopic.php?f=9&t=36


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