RE: SpkNetwork: Going To Lock Up Millions Of HIVE by taskmaster4450le

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hive-167922 · @taskmaster4450le · Sep 20 '21

From the Light Paper:

As shown in the figure below, each year the efficiency of the LARYNX Miner Tokens drops slightly in order to mimic the relative efficiency improvement to the latest physical mining rigs in the real world. This creates continuous demand for the latest LARYNX tokens, and encourages additional permanent staking into the SIP.

![image.png](https://images.hive.blog/DQmQqLRkx6V7QCVxJMacutyk2zWDfPd2nBYSNPJf9SZPBBD/image.png)

So no idea what the percentage rate of mining deterioration each year.  

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@dagger212 · Sep 20 '21

$0.05

Okay, thanks.  From the looks of this diagram it doesn't seem like the initial miners will go to zero.  They'll probably just become a smaller and smaller percentage of the overall mining pool.

So I wonder if they'll just sell new miners to cover the deprecation...?

For example, say there are 100M miners (just to make the numbers even) when it comes out.  And say they will each mine 1 SPK per year...so 100M SPK at the end of year one.  At that point, those 100M miners go down to 80% efficiency so they'll only mine 80M SPK in year two.  Will the company then auction off 20M LARYNX2.0 miners that all mine 1 again?  And then in year 3 you've got 60M from the initial miners, 16M from the LARYNX2.0, and then another 24M LARYNX3.0 could be sold each mining 1 SPK per year.

It will be interesting to see how they do that...

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👍 taskmaster4450le

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@starkerz · Sep 20 '21

$0.05

We await input from insightful community members such as urself on this. We will propose initial numbers but ultimately members with SPK will be able to set the variables themselves

👍 taskmaster4450le

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@dagger212 · Sep 21 '21

I guess part of the question will be how many LARYNX you eventually want out there and how long do you want to take to get there?

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@starkerz · Sep 20 '21

Yes. Miner efficiency will fade away to a low fixed level at a certain point. Some will sell to allow for funding of new miners, others will keep them as collectors items just like in the real world, others will keep them staked and mining in the network

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@dagger212 · Sep 21 '21

What you should do is make every 1000th or even every 10,000th initial LARYNX miner an NFT.  Then they could ultimately become tradable as *real* collectors items.  :-) 

Put them on HIVE's NFTShowroom and watch them climb in value.  Especially considering they'll still be actively mining LARYNX, albeit in very small amounts.

Or, better yet, you could make the NFT ones NEVER DEPRECATE.  So you'd always have at least roughly 330k of them out there (33k if you do every 10,000th) that would maintain their mining power.

Obviously this would require more work for you guys, but it's a pretty cool idea if I do say so myself.  😎



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@starkerz · Sep 21 '21

These types of ideas are great! We have tried to gamify the tokenomics of the SPK network as much as possible but ideas out of left field like these are great and worth considering. We would like to think that some point all miners will also be nfts, as well as all content and each account. But that’s later. Gamifying as u suggest can be leveraged to create incentivised positive behaviour with a lottery outcome. One of the best gamification methods out there

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