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Beyond Bitcoin [closed] / Re: Hangout Questions for Bytemaster (Due Friday @ 10:00am EST)
« on: August 15, 2015, 12:05:43 am »Question mentioned on Mumble that didn't get answered:
Paraphrasing..."Don't chains that sharedrop 20% and then dilute violate the Social Consensus?"
Answer: No violation. After you get your full 20% then you have to decide whether to cash it out or let it ride.
If you let it ride you are freely deciding that your are OK with the expected growth vs. the expected dilution.
So what happens after genesis is in your control, and you shouldn't expect a developer to take that into account for you.
In the case of Identabit's Proof of Appreciation guarantees that no dilution will occur at all for a while until the algorithm has validated that offsetting appreciation has occurred.
So the worry about what the supply will be at some distant point in the future is unknowable and moot.
You start out sharing 20% and have plenty of time to decide your own fate (and opt out if you want) before any change in the supply ever happens.
Thanks for answering! Although I'm not completely felt whole. I think another way to look at it is to see that the value given to BM and company now allows for a faster burn rate of transaction fees. So similar to adding greater value, the faster the deflation, we may end up with greater than 20% someday as opposed to less. Any of these scenarios are possible.