Poll on Firo Block Reward Division

There is absolutely no evidence that having less than 1% of the trading volume from miners selling would drive the price down.

It’s embarrassing that you have tried to support this argument. That’s the case here.

It’s a negligible amount of money and over all volume and that’s IF 100% of miners are selling 100% of coins.

That’s a BIG IF.

As I’ve stated before I don’t know anyone who would be mining FIRO right not just to dump coins. It makes literally 0 sense.

The argument should be dropped on the shear basis there are no facts to back it up.

Sorry to rain on your parade, but the price has gone down for ALOT of other factors, miners selling on a daily basis is not even in the top 10.

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Yes we know you have absolutely 0 understanding of how miners work and why the choose to mine certain coins.

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  • I’ve been a miner since before Ethereum launched… so I’ve been mining ZCoin/Firo since it was born.
  • I have held Firo masternodes since their creation.
  • I participated in Firo’s liquidity pool campaign on ValueDefi (hack: 100% losses).
  • And now I’m a liquidity miner on Firo (FIRO liquidity mining).

It’s true that I learn every day and since then, it’s been a lot of knowledge…

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While I understand people are wanting to establish themselves as long term followers of Firo/Zcoin, please let’s not devolve involve into name calling, etc.

Spot on @MeanHash! I can actually back your assumptions with some hard evidence.

The other day I seen 2 miners on Firo’s Solo pool with at-least 1/3 of the total hash power. For those who don’t know, your mining software should report to the pool your local hash-rate (at-least in normal circumstances) but what I found interesting that those 2 miners have a huge gap between their reported hash-rate and average hash-rate vs their current hash-rate.

I actually took screenshots and opened a ticket inquiring about this matter and 2miners confirmed and I quote “That can happen either with a miner that report partial or wrong or doesn’t report, by using a proxy or most hash power rental services.


The miners don’t deserve so much, we should be decisive and give more to the people who like FIRo, the miners do damage to the community, they don’t do anything for the community, they don’t deserve so much.

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转发了你的分享,支持你的建议,希望团队能采纳你的建议,归根结底是要让firo变得有价值才是前途,否则一切都是空谈。

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谢谢你。
重要的是社区的利益,每个人都应该在一个不惜一切代价捍卫自己的个人利益的人,甚至以牺牲这个社区的其他玩家为代价的人和试图平衡利益的人之间做出区分整个社区。

Thank you.
What matters is the interest of the community and it is up to everyone to make the difference between someone who only defends his personal interest at all costs, even at the expense of the other players in this community, and someone who tries to even the interest of the community as a whole.

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Someone suggested accelerating block rewards. For example we planned to drop the blocktime to 2.5 minutes and similarly half the block reward from 12.5 to 6.25.

What if, in addition to the block reward change, we also accelerated distribution of the coin to be twice as fast? So if we adjusted blocktime to 2.5 minutes but kept block reward to 12.5.

This actually effectively doubles masternode and miner yields and Dev fund at the cost of a higher inflation rate similar to pre halving without affecting total supply.

So even if miners are cut a percentage, their real world gains are the same since they’re also getting it twice as fast.

This would be interesting to see imo as I don’t think Firo needs another hundred years to distribute and to follow Bitcoin’s schedule doesn’t necessarily make sense. This does mean that halving happens every 2 years instead of 4 and we have to ensure the project grows in the right direction but right now it needs confidence and incentives. Block rewards are incentives.

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Very interesting suggestions. The last bitcoin will be mined in 2140, that is a long time, maybe half that is fine. I am all for it.

double the inflation rate and enjoy the 1 dollar range, then start another “project” with NFTs :smiley:

I think this very elegantly solves a lot of the current challenges with Firo. I also don’t think we need another hundred plus years of distribution, especially if it’s at the expense of increased adoption now when it matters.

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I don’t think that we should encourage owners to hold their cryptocurrency. There should be incentive to spend, as real-world spending for goods and services is what will ultimately drive mainstream adoption of the system.

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Yes, you are absolutely right to specify “spending for goods and services is what will ultimately drive mainstream adoption of the system”.
Because spending to buy FIAT or other crypto is doing the exact opposite of what FIRO needs: taking value away from it.

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What you are proposing amounts to multiplying FIRO monetary creation by 2.
How to prevent FIRO price from being quickly halved?

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Well, I’m brand new but not a sockpuppet or anything of the kind. I’ve been a member of bitcointalk since 2015 with the same username and have been growing very interested in privacy-oriented coins with features that appeal to me (like PIVX with its staking and XMR for the ability to mine it with CPUs).

What brought me here was the Youtube video in which this topic was being discussed by Reuben, because it struck me that he seems to want people to have some sort of emotional connection with Firo and seemed almost angry that miners would actually sell any, and surprised that miners jumped in at the protocol change to make a quick buck. On that point I have to say that people are interested in crypto as a means to make money–and that’s the whole point for many miners, MN owners, and everyone else. There’s a bit of naiveté in his attitude toward and perception of miners and what they’re motivated by.

The vibe I got from the discussion was that more of the block rewards should go to the dev team because they “care” about Firo the most, no matter what words Reuben spoke. The bottom line is that this is money we’re talking about, not a loving community centered around a shared affinity for a certain coin.

I just started seriously getting into Firo, and I’m still learning about its machinations. I have yet to learn what the dev team does with the part of the block reward they get (or why part of a block would be reserved for a group of people other than those securing the network, as that tends to tilt the system toward centralization) or what the community fund is.

If I could cast a vote, I’d eliminate dev and community fund rewards altogether and reward only those who are putting their money and time into securing the network so that the coin doesn’t end up in the 1-satoshi graveyard on Yobit.

Greetings to the forum.

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Thank you for so confidently forming opinions and making assumptions based solely on willful ignorance. Welcome to the forums.

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Thank you for the insult rather than a counterargument, and you’re welcome for the sarcasm. Free of charge.

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Counter argument to what? You haven’t done the necessary research to form a conversant opinion. Probably best viewed as a challenge to become more informed, rather than insult.

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Welcome to the forums.
You’re right, Reuben would like the community to have an attachment to the project. I think there are plenty of members of the community that would also have such hopes. There’s nothing wrong with that. In fact, most of the communities in crypto have attachments to their projects. I’d argue that it is often necessary for a community to have such intentions - a common goal, a mutual interest, and a camaraderie amongst each other - in order to function. So I don’t think that is naive, and I would say that people with this in mind are on the right track.

As for the mining, contrary to your argument - this is expected from the miners. We expect miners to seek profit. We expect miners to sell. Reuben has expressed this over and over again. We expect miners to move from coin to coin for whichever suits them best. We expect miners to sell in order to make a profit or to cover overhead. This has been repeatedly stated and expressed. So no, Reuben is not angry about that. He is disappointed that miners consolidate the hash on one pool which can jeopardize the project, yes, and this is not too big of an ask. Even Monero was at risk of such a thing and their community stepped up and their miners moved pools in order to protect the project. This clearly shows it is well within reason to ask our miners to distribute their hash in order to protect the project.

Certainly, people are involved in crypto due to money. The whole intention of crypto is to be money. This is to be expected. Clearly, miners and MN holders are seeking money - whether it be to make a profit, or to use said crypto as the money it was intended for. This isn’t even the argument at hand. The point of the tokenomics was to introduce the community fund. Our current block reward is used up. In order to create the community fund, we need to take rewards from one area to add to the community fund. MNs are our primary security. Mining is backup, but their only real job currently is running the blockchain. MNs are used for numerous jobs. Based on this, logically, we are overpaying for the security from miners. The amounts that are available to vote from were all conjured up by the community. The argument is not that making money is bad.

I am unsure how you got “more block rewards should go to the dev team” considering that we have stated repeatedly in the original thread, in this thread, in our Firo Twitter Spaces, etc that our intentions are not to increase the dev fund. In fact, we have said no to the suggestion to increase the dev fund repeatedly. The dev fund was determined by the community in the first place. If you’re going to come to your conclusions contradictory to evidence or what is being said I don’t think I can make an argument.

Well, the name “dev team” sorta describes itself. Development. You can see work that has been done, and what is being pursued on our roadmap: Roadmap | Firo - Privacy-preserving cryptocurrency and if you can navigate it and all you can check out the GitHub: GitHub - firoorg/firo: The privacy-focused cryptocurrency

The dev fund was determined by the community in order to fund the core team. At the next halving, it can be determined again whether or not the community wants to maintain it. It is agreed that centralization is an issue - the core team could be targeted in order to get at the project. This is actually the exact reason why the community fund was proposed in the first place. The intention is to assist the community by providing funding for the community to fund various items and slowly phase out the dev fund.

I have to admit, I find it particularly amusing that you claim you don’t know or understand what the dev fund is for, what the core team does, or what the intentions of the community fund are for, but are pro-eliminating both. “I don’t know what the cable does, but I’m gonna cut it. Yolo.”

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