Mining will also come back after the price rises. Mining doesn’t believe much in privacy.It’s not to cancel mining. But when you purely use projects as money-making tools. You will also be used as tools.Only people who believe in privacy can stay in this project. I would rather invest most of my investment in faith in privacy.
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Wouldn’t mind being allowed to vote. We’ve chatted on Discord.
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Well said… just do what is right for the actual project.
Miners: 20%
Masternodes: 60%
Community fund: 5%
Development fund: 15%
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Miners: 20%
Masternodes: 60%
Community fund: 5%
Developement fund: 15%
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From my point of view, this is the best compromise for the moment.
If you want to know the whole argument to arrive at this compromise, I tried to explain it in the topic where we exchanged on the best possible block-reward distribution (https://forum.firo.org/t/tokenomics-and-funding-division-of-block-reward-discussion-and-community-matching-fund/2061/379).
Unfortunately, Reuben forgot to propose this distribution in the vote (he apologized).
From the beginng of this pool, the winning votet is the 15/60/10/15 split. This vote takes up the most important (allocating 60% of the block-reward to thoses who support the price of FIRO by buying FIRO on the exchanges and not reselling them). The only difference (with the 20/60/5/15 distribution) is a personal choice between the allocation of 5% of the block-reward between miners (15% vs. 20%) and community fund (10% vs. 5%).
The end of PoW on ETH will blow up the GPU mining world. There is going to be so much hashing power available and so few valuable coins to mine, that FIRO will definitely continue to attract miners with 20% of the block-reward, and probably even 15% (especially if the allocation of 60% of the boc-reward to the masternodes makes it possible to raise the price of FIRO). As a reminder, miners also receive transaction fees.
There remains the question of the community fund: it all depends on how it will be managed: it may be in vain or on the contrary very beneficial. We have to choose between assigning it 5 or 10%…
Remark:
Today, animation actions around FIRO are financed by the dev-fund. By creating a community fund, we relieve the dev-fund of these expenses. So, even keeping the dev-fund at 15% of the block-reward, the creation of the community fund amounts to increasing the resources devoted to the dev-fund.
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“for the moment”
this is pivotal for Firo
there cannot be “moments”, firo cannot just change the tokenomics
whatever the change or no change is, it better be the final one
I think that tokenomics should indeed be as stable as possible, or even never change.
But FIRO’s history shows that they have changed several times, so I’m cautious and that’s why I said “for the moment”.
And let’s remember that the definitive tokenomic should be the removal of development funding by the block-reward (in accordance with the original project, in accordance with what Poramin again recalled here: https://forum.firo.org/t/tokenomics-and-funding-division-of-block-reward-discussion-and-community-matching-fund/2061/258?u=zen). The block-reward must in the end only be used to finance the security of the blockchain, therefore the masternodes and/or the miners.
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What is the role of miners, waste electricity, they will only be suppressed, now Ethereum is also making changes, moving in the direction of nodes, this is the mainstream of the future, you are only saying this for your own interests.
I do agree with Reuben that the rewards for miners should be reduced more gradually so everyone can absorb the shock better.
Despite the tendency for miners to centralis3 in several pools, they stilll provide important backup for the security of the ecosystem.
Normally I would agree to do things gently, but there is urgency.
FIRO price has been collapsing for more 5 years (98% drop): if we do not react quickly and strongly, the risk it is the delisting of the exchanges and the disappearance of the project.
The end of Ethereum PoW mining will be a game-changer in the GPU mining world : allocating 30%, 20% or even 15% of the FIRO block-reward to miners will be completely negligible as a difference compared to the tsunami that the end of Ethereum GPU mining will represent.
Some miners claim that the power consumption of mining determines the FIRO price. By decreasing the share of the block-reward allocated to mining, we increase the amount of electricity needed to mine FIRO, and therefore the price of FIRO: miners will not sell until FIRO price compensates for their electricity cost. And miners who don’t sell off their FIROs at ever lower prices, that’s exactly what we want.
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For being with firo by 5years, I vote to option 1, because most of miners just chasing profits (they chose firo only due to its high profits), some who addicted to firo can also make main nodes for more benefits. Therefore, I think it is meaningful to enlarge the benefits for main node holders, which are the main supporter for firo !And this is a goog contempt for changing from pow to pos !
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I will change my choice to 30% mining in the end. I just want to warn miners: It’s unpopular for you to do so. Focusing on one point like this is harmful to FIRO. Your own practice has told everyone that mining does not help FIRO at all, and even hurts FIRO. Although the price of this project is low, you can’t tease it like this. You have completely handed over the security of FIRO to the master node.
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exactly. been here since January 2018. this coin has been absolutely rekt
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After several years in FIRO I believe that we should bring miner rewards to 10%, the price of FIRO will rise to account for this and the difficulty settings will change to keep miners in profit. I don’t think it is as big of a deal as everyone thinks. We are overpaying for miner security so drop it to 10%, but do it in stages over a 4 month period. on the 1st of each month for 4 months reduce the reward by 10%
month 1 reduce to 40%
month 2 reduce to 30%
month 3 reduce to 20%
month 4 reduce to 10%
This will make it so the system is not shocked and it is gradual. I think this is the best way to change the rewards. Thanks!
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Thanks for asking! For next time, perhaps uses sliders - this way everybody has their have their super-personalized happiness equilibrium 
Something like Humble Bundle does for pricing 
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This is NOT about money to me but about freedom!
I would encourage everyone to keep in mind that one of the most important elements in any form of government, community, state, decentralized blockchain or planet for that matter is BALANCE. Without balance, destruction becomes inevitable… Plenty of examples in society today if one takes the time to simply look at our current world.
We all need to love one another and inspire other to join our project through our actions… A community who is United, Bold, and Brave because it will not be easy doing what is right going forward. That said in my opinion anything less than 30% miners is and unbalance form of gov as is anything higher than 30% miners.
I would like to end by recommending that EVERYONE read Permeant Record by Edward Snowden. You will see the world through new eyes and it will become abundantly clear that Privacy is paramount for a free society because the alternative is a future world which was written about in books such as Orwell’s 1984. Inflation is coming and assets will rise, especially does which can provide Privacy.
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I think of it this way, 100 people in a boat trying to get to the same destination with 60 rowing from port and 10 starboard with 30% not rowing, it will not go anywhere. Go anywhere = security achieved.
Let us unite behind a balanced and focused direction in which we all prosper.
Advocate for BALANCE between miners and MN.