That is a very fair point, and one I will have to admit I had not considered. I suppose it would figure that using a passive income for such things would be psychologically easier. Though, on that same line of thought and reasoning, why would they not just sell it off for profit much as we are saying miners do/will?
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我同意鲁本的提议。建立主节点的人一般都是对Firo有较高认可度的。
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Even if we assume MN’s will sell off like miners. Unlike miners, MN’s invested the appropriate capital directly into Firo itself in order to have that privilege. In doing so, MN’s directly contributed to supporting the price of the underlying asset itself.
If you increase the reward you increase demand for MN’s. If you increase demand for MN’s you increase demand for Firo. It also would incentivize MN holders to keep their nodes.
All this new found demand will increase the price of Firo. With an increased price come many benefits. First the coin gets noticed by investors. The dev team has more resources, and development accelerates. Firo as a whole project becomes more competitive, which further increase the value of Firo.
Also as a side effect of a higher price, you may find MN’s don’t have to sell off as many rewards due to their higher relative fiat value. This probably would be especially true for users with multiple nodes.
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P.s. With a higher relative fiat value, it also makes it easier for MN’s to donate some of that passive income and reach the required funding goals. Coin listings on expensive exchanges suddenly become a lot more realistic.
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I completely agree. It looks like the bull market is over and it completely missed firo. I don’t know how low firo will go this bear market. It already tested crucial support macro four times which basically means it is over… will be interesting to see if we survive into the next bull
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Changing tokenomics is a huge deal. How is the core team going to decide on the exact new block reward distribution? Will there be a vote on several block reward distro possibilities? I hope so.
I think 50% PoW reward should be maintained. I find it hard to believe miners who mine Firo are insta selling it. There are other coins which bring more mining income (Eth, Flux, etc.). How about reducing masternode and dev by 5% and using the 10% to promote community match/marketing?
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Mining no longer provides as much benefit to Firo as compared to masternodes. Why pay so much for such little benefit?
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I am not sure that a volume of 3600 daily mined coins is the main reason for the sell off in this bull run.
Nevertheless I am in favor of increasing the MN reward. Most miners come and go. MN holders went through an emotional rollercoaster the last 2 years.
Seeing other coins lift off while Firos price increase were usually short lived.
So i think peple who held strong during these times and are still loyal to the project should get more rewards.
Disc. I am an MN holder and do not mine
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I’m very dissapointed, if those changes will follow through and mining will be discouraged. When that happens it will make no sense anymore to mine Firo. FiroPow already is a power hungry algorithm. Right now, it is already only a little bit profitable for home miners like me, since the kWh price went to the moon… sadly not the price of Firo with it.
My rig at home already costs me €115,-/120,- per month of electricity to run 24/7, wait, actually with mining Firo even little bit more…
Mining Firo in a pool at the moment only brings in €154,-/162,- at the current price.
Mining is not easy laid back money, I think I put a lot of time in it to run, fine tune, update, clean regularly, etc, more time consuming than a masternode.
When miner fee gets cut down that much, there will be no more mining Firo at all.
Most miners will quit mining Firo, that will bring difficulty so much down that the encryption of the network will become less safe.
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yes, mining is self regulating, and it is hard
staking is just yield farming and the coin will enter a death spiral
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Proposal sound logical.
Reducing reward for miners (even to 10%) can help.
I think that for matching fund there should be some team at least at beginning who would have right to overrule code in case some kind of obvious voting attack.
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When rewards sharing percentage drops, opportunistic miners will go away and whoever loyal miners that stay, will enjoy the bigger shares. Eventually, it all levels out.
When FIRO price increases that lead to profitable mining, the quick buck miners will come back for sure. They care nothing about block reward shares, be it 20% or 90%, profit is profit to them.
There is a difference between profit and earnings,
That 20% isn’t profit yet, it’s earnings, after electricity costs it’s profit.
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In favor, but take into account miners also have energy bills to pay.
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As Pepe says, it will even out. Less people will mine Firo, the difficulty will drop and the mining reward for those who stay might stay the same.
I agree, I think this will kill Firo mining. I got very late into ZCoin/Firo because of its unique privacy mechanism and hybrid PoW/PoSe character and good yield during MTP algo time. I haven’t sold a single Firo. Now with the new algo and reduced Nvidia rewards, I do not mine anymore but I was considering it after Eth goes bye felicia. If PoW goes considerably below 50% or less than MN portion, I will not.
Switching the reward distro from PoW to MN will further reward early whales, and will discourage newcomers from mining and acquiring new nodes through mining. But who knows what will be the long term consequences of the proposed above distro change, it could increase price pressure.
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By the research, I am pretty good Hash rate supporter for Firo at least a year already before I was ETH/RVN/STRAX,… . Beside that I support the project for its potential and maybe because it is very in line with my idea of what a single coin could be and its main positives. Right now I look at it purely from the cash perspective, which I think Firo should not deviate from, the project need something tangible for people want to buy it for to get many bonuses while spending it, or in this case also, have benefit from a fund which would be anonymous and would be used for greater good of all those who buy or participate in the project. It’s all good, change numbers, rewards, but Imo, main thing should be focusing of getting more people in all of the advantages Firo could offer them, while paying with it for a product/s, service/s, …
Being a miner or a masternode owner, hodler,… won’t attract anyone new, no matter what rewards are or what you change them to be, if no one wants to buy Firo for them to have benefit.
Some make millions from 8 bit pics 
while a project with the main thing “privacy” is lacking main thing to use it for, and there are so many legal markets and services on the world, that people would rather use single currency for, no matter where they are, which also wouldn’t disclose their identity.
So I apologize if maybe I got a little of topic, but one goes with another in my opinion, and remember also that many people don’t understand crypto for what it is already, hehe, where would they suddenly learn about what Firo could offer them, if nobody explains them idiot-proof way, which is to build or partner with provider/s or service/s that many people want, for them to make transactions “pay with Firo” and after that it is easier to see and discuss where the allocation of funds, rewards should go. I say all of that because of the thing I wrote in the first sentence, so for me to stay and mine Firo and hodl it, depends more of the direction where Firo is going and not on the reward I get in that moment, the real reward is if the price is going up steady over time and something everyone can/will use it.
I also agree with the proposal, if less FIRO is sold and the price will go up, it could still be profitable for mining. So this could be a win-win situation.
Several people have suggested this, I would also like to throw my support behind something like this:
60% Masternodes
20% Dev reward
10% Community Matching Fund
10% Miners
Looking forward to hearing more about the Community Matching Fund, I think that has a lot of potential. Dash and Cardano has had huge success with a community fund to support all kinds of projects. Would love to see a similar system, maybe a vote per masternode or something like this.
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I think Firo has done great work.
I haven´t been in the comunity for such a long time honestly, as I´ve only joined recently as a Solo Miner, so when I first read this the gut reaction was “WHAT?!? NOOO?!? This sucks!”
Then I read the reasoning.
I think the arguments made are valid to some degree and if you have been a longtime member it´ll oviously be great for you to now suddenly make more off your masternode. I just don´t think that should be the case.
Price for entry is already pretty high in my opinion. For the “average Joe” ~3500€ were it has been the last couple of days is quite the bar. Might not be for bigger players but in My opinion it is.
If you´re going to decrease the miners income I think the last thing you should do in increase the masternodes, as it completely blocks new people from coming in. I think FiroPOW algorithm was a great step. Towards GPU mining and towards the community.
I mean I´ve been mining Firo for about 1 and a half months now and accumulated a little below 100 Firo. This is by far not the most profitable thing I could´ve mined especially with german electric rates, But my plan was to have my first node by the end of the year. If this change happens that goes out way into the future, while people who already have one or more masternodes will have their next one together in the blink of an eye meaning more centralization and thus less safety. How can we make sure that with those profits possible people won´t buy up until it isn´t save anymore.
If you´re doing this change you might as well cut the miner out of the picture alltogether. It doesn´t work for me. I mean I already quit on ETH because they don´t want to support me for long anymore. Only use for that in my eyes is to dump. But for Firo this hasn´t been the case for me. The incentive of staking makes me want to hodl the coin.
It´s also different from something like Ravencoin in that sense were people keep on dumping becase what incentive do they have to hodl.
My opinion is, that a deflationary coin is a good thing, so decreasing the mining rewards is a great way. But you can´t increase Masternode rewards then.
How about a model like, with each Epoch we slowly introduce the comunity matching fund and take that away from the mining reward. Something like 1% at a time slowly and not a sudden hardfork which disencentivices people from trying to build up Firo on their own.
The Price will largely effect the Success of the coin, but if it doesn´t spread out like something like ETH did, then it can never have the same potential.
I feel like a change this drastic will crash this plane right into the ground and nothing else. At least for me it will and I´ll start looking for a different project then, without PoS. What miners do is in this case what a sensible person does. So it´ll be what a community does. This will kill your entry for new people who aren´t big bags of money walking around.
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