mimblewimble team mailing list archive
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Re: On block rewards
I love all those first time posts! I wanted to address this point as it seems to be a common concern. I'll compare with bitcoin which I guess most people consider the "standard" supply schedule.
If you run the numbers, assuming you acquired bitcoin at the end of the first year, at the end of year 10 (which is coming fast) you will be diluted by a factor of 6.5. Now with a flat coin supply, again assuming you acquired grins after one year, the dilution factor is only 10. So compared to bitcoin you're diluted only about 54% more.
I'm not losing too much sleep over a 6.5x vs a 10x dilution over 10 years.
> -------- Original Message --------
> Subject: Re: [Mimblewimble] On block rewards
> Local Time: October 11, 2017 9:37 PM
> UTC Time: October 11, 2017 9:37 PM
> From: fola.a@xxxxxxxxxxxxx
> To: mimblewimble@xxxxxxxxxxxxxxxxxxx <mimblewimble@xxxxxxxxxxxxxxxxxxx>
> Hi all,
> First time poster too. Love this community so far, sound ideas, keep it up.
> My only "worry" (if you can call it one) is that, one of the initial goals of the project; should be towards attracting real, talented, long term devs. With that, I think we under estimate the power of hodlers. I think hodl can often be the biggest incentive to work. Most devs are working jobs just like you and I, and without donations they would spend a lower amount of time on big ideas like these. As Seamus mentioned before, the first decade *MIGHT* be brutal to anyone using the coin as a store of value. I just don't want to scare off any devs that could help drive positive long term adoption due to lack of a solid incentive. Are we now looking for devs prepared to adopt the mimblewimble faith? It's difficult to measure the entirety of good it will do to the ecosystem, but coins that are finite make so much more sense to me at least, if you think about how competitive humans are in nature and how that drives positive change.