Block Reward Adjustment

tuneman1980

So with the decreased block times the time till the next block reward adjustment went from about 3 years away to about 1 year away. I’m tracking that the next block reward adjustment is at block 840,000. Was this adjusted as part of the hard fork?

Reward Ajustment 1 year, 2 months, 14 days, 12 hours, 29 minutes away.

http://www.cryptocoinstats.com/supplytracker.php

lizhi

This does not change. Maybe we too fast.

tuneman1980

Just pointing out that several people thought that this would maintain the current inflation model, when in reality it does not. Maybe it was intentional. It’s not necessarily a bad thing. I was just curious if anyone had given it any thought.

Bushstar

The subsidy halving block number was increased as part of the hard fork though subsequent halvings still has to be coded in some elegant way. I was going to post it on maths stackoverflow to get the best looking solution. I will dig up the current subsidy halving code when I get back home, at the Oxford Blue right now.

That website is out of date :p

tuneman1980

Dude, that’s my website. I was holding off on updating the supply curve until I had confirmed that the block reward halving wasn’t being adjusted to match the decreased block times. I’ll leave it as is, if the goal is to adjust the halving block triggers to get back to the original supply curve.

Bushstar

// Subsidy is cut in half every 2100000 blocks, which will occur approximately every 4 years
nSubsidy >>= (nHeight / 1799985); // 200,010 blocks at 200FTC and 1,599,975 at 80FTC

Halving will be maintained at four years. This needs to be fined tuned but we are not going to break our inflation model as stated. We have another hard fork to go through. I will fine tune this tomorrow so you can update your website with the exact values. Subsidy code is in main.cpp if you want to take a look.

tuneman1980

Good to know that you’re all over it. I figured that you were, but I hadn’t seen this mentioned in any of the hard fork related posts. Yes, please let me know when you’ve settled on the exact block number.

wrapper

I know the theory was to cover all the consequences of changing the supply rate, so the same total number of coins is produced. I’m sure we discussed this, during the development, so we were aware it would be an issue. Its now urgent, so, thanks for the heads up.

lizhi

    // Subsidy is cut in half every 2100000 blocks, which will occur approximately every 4 years
    nSubsidy >>= (nHeight / 1799985); // 200,010 blocks at 200FTC and 1,599,975 at 80FTC
Halving will be maintained at four years. This needs to be fined tuned but we are not going to break our inflation model as stated. We have another hard fork to go through. I will fine tune this tomorrow so you can update your website with the exact values. Subsidy code is in main.cpp if you want to take a look.

the next block reward adjustment is at block 840,000 , I think that is right , We do not need to change it. 4 years halved may not fit FTC, it’s just copied from code bitcoins.

tuneman1980

the next block reward adjustment is at block 840,000 , I think that is right , We do not need to change it. 4 years halved may not fit FTC, it’s just copied from code bitcoins.

We’ll hit 840,000 in a little over a year since the block time has been accelerated 2.5x

lizhi

Yes ,That’s fine. 1.6 years should be halved, better than 4 years halved.

In the next year, Litecoin block will be halved, we should also be halved .

zerodrama

this might actually give FTC a boost.

Bushstar

I have edited the code to properly handle the reward halving till the last Satoshi is minted. We did have a change in the code already but that was only good for the next seven years.

    // Halving subsidy happens every 2,100,000 blocks. The code below takes account for the
    // fact that the first 204,639 blocks took 2.5 minutes and after changed to 1 minute.
    nSubsidy >>= (nHeight + 306960) / 2100000;

Source code: src/main.cpp Line 1082

tuneman1980

I have edited the code to properly handle the reward halving till the last Satoshi is minted. We did have a change in the code already but that was only good for the next seven years.
    // Halving subsidy happens every 2,100,000 blocks. The code below takes account for the
    // fact that the first 204,639 blocks took 2.5 minutes and after changed to 1 minute.
    nSubsidy >>= (nHeight + 306960) / 2100000;
Source code: src/main.cpp Line 1082

Awesome, thanks.

DARKANGEL6415

Awesome, thanks.

I have a question not related to this directly but if we going so fast as lishi said why on earth has it been like 4 hours since i sent a payment and still shows not even 1 confirmation