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RE: Why I am Very Disappointed by the Upcoming V8 Removal of the Magnitude Component of the Gridcoin Staking Weight
I have less now, my own choice, sure
And that is your choice. By holding less coins, you stake less frequently. Welcome to Proof of Stake coins.
sighs That could have probably been stated better.
From scalextrix - "I dont agree with the statement that doing this makes Gridcoin closer to a PoS coin, you still get mining rewards in V8, you just dont get them quite so often."
A few comments down from that, from barton26 - "Welcome to Proof of Stake coins."
These little snips show how things devolve, imo. GRC has always been both PoW and PoS (PoR), and my question posted on the forum is still out there.
barton26, not making a big deal, but also being entirely honest, that came across a little snide sounding in my head. Meh, I take for granted that may be my issue, but if you don't know I took it that way, and it wasn't your intent and I let you know, then no harm no foul, I hope.
I still haven't seen much to dissuade me from taking @dutch's analysis at face value, perhaps I could get someone to actually define small miner, medium miner, etc., since these terms are being used to describe hypotheticals. I'm sure we're closer in numbers than this, but, it could be that I think a small miner is someone holding 1k balance or less and you consider it to be 100k or less. Let me know what it's to be considered and we can go from there.
Of course, holding less coins means staking fewer times - I'm currently involved in another coin that I stake eight to ten times a day, it's been good and I have significantly, as in years less, time in it than GRC. So I feel a baseline for defining these terms is good for conversation and information.
If I could, I'd put it up for a vote, before V8 went live, whether to leave it to activate, or to alter it asap so it activates but does so in a way that doesn't hinder new-solo and older/smaller solo miners.
The entire mechanism of Gridcoin was supposed to be to encourage research, I feel V8 moves us farther away from that and it should be altered before being allowed to activate.
The v8 changes were required due to critical network security risks associated with providing magnitude a stake weight. Once v8 is implemented and stable we can certainly prioritize the topic of POR payout prioritization on github/steemit/etc.
You should check out the github wiki's proposed incompatible changes, there are many proposed improvements which will directly benefit POR users.
Given the network security risk of sticking with the current staking mechanism (which includes mag in the staking mechanism), maintaining the network/blockchain on pre-mandatory versions (forked blockchain) will likely experience malicious network consensus interference.
Once the mandatory has passed, we can transparently discuss improvements for the POR mechanisms as a community & assign an appropriate priority (and bounty via dev program) for development (considering the other high priority development items in the pipeline).
I'm very interested in the we/community/... discussions. Where should I look to know what the communities priority list is. Point to issues lists (who decides on priorities?) and saying things will change is pointless. You're saying it will be worked on. But I have no idea if it will be first second or never. It's the opposite of fud.