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RE: Why I am Very Disappointed by the Upcoming V8 Removal of the Magnitude Component of the Gridcoin Staking Weight
Having witness this debate play out on IRC over the last couple of days and having read the comments here, I started to think about to when I started GRC. It was already a pain in the ass to get the wallet and blockchain loaded. Then I had to send a beacon and wait like 1-2 weeks to get my first payout - and that was after buying a couple thousand coins.
Here's what I see as issues based upon what I'm reading:
- As a newbie, I wanted to stake at least once a week. Anything beyond that was scary to me. I think the idea that you could need 10K coins to even start tasking once a month or so, that might be pretty daunting and create a huge barrier to entry.
- GRC's purpose is to support BOINC - anything that creates barriers to entry to GRC creates a barrier to entry to new participants in BOINC.
Today is the first alternative I've heard presented that actually seemed to make sense: could we pay out research at each superblock? Could we perhaps have a discussion of what would be the pros and cons of doing this?
One thing, you might get more people to keep their wallets running as a side effect.
@erelas, I think many of us would see that as a very positive side effect.
Not possible with the current SuperBlock/NeuralNetwork implementation, it would require significant development (we've got higher priority items in the roadmap) and would potentially negate one of the primary reasons for holding GRC (increasing payout frequency) without a replacement economic incentive.
It would also potentially increase the computational complexity of verifying superblocks as each payout would require verification (100's/1000's/10k+ POR payouts in a single block?) compared to only a single CPID requiring verififcation in each block right now.
So, what other options exist? I think a lot of us wold be in interesting in hearing that.