***SmartCash Block Reward Allocation Change*** 50% - Community Treasury (SmartHive and HiveTeams) and 50% - Hive Structuring Team (SmartRewards 20%, SmartNodes 20%, and Miners 10%)


#1

Summary:
Change the current SmartCash block reward allocation to 50% - Community Treasury (SmartHive and HiveTeams) and 50% - Hive Structuring Team (SmartRewards 20%, SmartNodes 20%, and Miners 10%).
Description:
Currently, the SmartHive community address holds approx. Σ742,364,508 ($148,472,901.60) or about 54% of the whole SmartCash circulating supply (http://explorer3.smartcash.cc/richlist). However, only about Σ2,634,940 ($508,578.00) worth of projects have been currently allocated or completed. This means only 0.35% of the SmartHive community funds have been used for community projects.
My proposal is to change the current allocation from 70% - Community Treasury and 30% - Hive Structuring Team to an equal balance of 50% each with a 20% allocation to SmartRewards, 20% to SmartNodes, and 10% to miners.
With the increasing popularity of the SMART community, more and more members will be required to split smaller and smaller rewards amongst each other. While this is a good thing and an unavoidable consequence of growth. We have more than enough in our Community Treasury to justify the allocation change and reward the community for their loyalty.

If you agree with the proposal or would like to donate please free anything is greatly appreciated:)
Donate SMART: Sbfyd6GyUnsWHv5RUjpxu4hwU1TZe28knA
Donate BTC: 3PNK2taeztbLvdyoUykVs5BCeksME2YfsC
Donate ETH: 0xdC336bC568f1D0670086aD5dDC3f256125C2B214
Donate LTC: MSyunmVywyPgdnNnL9S6A2o9yjtRK43XF9


#2

Sounds like a solid proposal. The higher reward system should attract more people and investors, which should bring more value to the coin. I would support this.


#3

@SmartChange

I’m supportive of any effort to reassess block rewards. However, I thought it was curious that you upped SmartNodes in greater proportion (in terms of total allocation) compared to the other categories.

  • Mining: 5% —> 10%
    [5% increase]

  • SmartRewards: 15% —> 20%
    [5% increase]

  • SmartNodes: 10% —> 20%
    [10% increase]

Any particular reason for this?


#4

There is no way the change can be made as simple as that. There are many people with many opinions. I wonder if a change can be agreed on even for one position, while you thought you know it all better. It is rather risky to mess with working ecosystem.

As for my thoughts, I was thinking of:

Mining: 5% —> 5% (enough hashrate at current reward rate)

SmartNodes: 10% —> 10% (current number of nodes proves it’s enough)

SmartRewards: 15% —> 20% with simultaneous reduction of SmartRewards minimum requirement to 500 SMARTs thus making it affordable for more people (though more precise calculations needed and generally I may be wrong even about this one, lol)

Actually, Community Treasure apart from being a fund also serves as a price stabilisation mechanism. If the changes you mentioned would be implemented all together, SmartCash exchange rate would suffer significant dip and following increased volatility, have you thought of that?

Going back to the quatation. If you want the community to be rewarded, then think of how it should contribute into the project apart from just being loyal.


#5

I’d much rather see the community treasury put to work and have more resources than give it away to “hodlers”. There is already significant reward. More outreach and impact in the global community will have more value to SmartCash as a whole than giving away more “free” coins (so to speak).


#6

doesnt seem like a though out idea…
for example, it gives you a higher coin count, but the value surely would suffer. not only that, that is increasing rewards on an already high rewards system…

smartcash is not about the rewards… it is about the currency…

also, please check your numbers… more than 2.6M of smartcash had been paid from the treasury…


#7

love It. Increasing mining reward will increase security. Right now our hash rate isn’t high enough. This is a common complaint that could be solved.

I would even vote to increase mining to 15%
Smartrewards 15%
Nodes 20%


#8

5 % for mining was enough at beginning with block rewards well above 100 smart , now with block rewards under 95 and difficult Levels at 220.000 - 300.000 ( thanks to one anonymous user in the asia pool with up to 9 Terra Hash mining power ) . Today my energy costs are higher than the returns with smart at 0,15 US Dollar - i dont mine smart . It was Dualmining with only 60 watt additional Power consumption and 235 MH/s mining power but … thanks to decreasing Block rewards and higher difficult Levels and the Low Price of Smart - it is not worth it . You can better buy 1000 smart - not much = ~ 150 USD and have higher returns than with mining - if you think at the energy Costs , much higher Returns .

This Coin will go the same way like Bitcoin in Mining , only ASIC Hardware , all other will be pulled out …

Another thing to say is - KECCAK is designed to run on ASIC s … , only a question of time - but i think some of the TH/s Power is already Asic Mining , on programmable Units may be like FPGA
https://ehash.iaik.tugraz.at/wiki/SHA-3_Hardware_Implementations

For now - Mining Rewards are to Low
Smart Rewards are to high - on a yearly base 10 % ROI should be enough for investors who already think that the smart Price goes UP

Smartnode Rewards is difficult to say - you need a 24h/day server , a static IP, you need 10.000 Smart and only the first months are high returns , the same as mining , the Block Rewards are decreasing to fast
After 24 month you have 200 instead of 800 Smart / month
I cant get a static ip from my Internet Provider , so i had to rent a Server , approx. 4 Euro / Month i think = ~ 35 smart . Even with 200 - 35 = 165 smart/ month or 1,65 % per month ROI = 19,8 % / Year = should be enough … at today smart Price Levels , if you bought the 10.000 smart at 0,50 USD or higher …