I have forwarded your comment to everyone in the team. I think it is very much possible that the inflation rate is put to the vote. I am not sure if the miners will accept it though, as I am not sure if the miners will accept the BRI.
Tezos is designing a governance mechanism that can change the protocol properties (PoW reward, dPoS reward, block time, etc.) with token-holders votes only - without doing a hard-fork (so without miners consent).
Such properties is a total bullshit imo, it’s like a constitution, don’t let people to change it on the run. I treat all shitcoin governance as a plutocracy, totally flawed mechanism. Core properties like block reward and time must be created once and stay the same. There must be tail emission as well.
Now when it’s clear that high inflation was introduced as part of the trick to get hefty block cut by ongoing farce called BRI I have no hope left for this project.
Yes, we are following the developments at Tezos. I personally think that what they are doing is quite complex is very user-unfriendly. Maybe in time will improve. Decred are also interesting in terms of governance, but again, not sure if user-friendly, also - I think there are too many votes.
What we did today, actually, was a quick test of the user-friendliness of aeternity voting. We brought together around 40 people for a “brunch” in the office of AE Ventures, asked them to create mobile wallets (Base aepp), sent them 2 AE each, and asked them to vote in the BRI. Everyone was able to intuitively figure out how to do it and voted. They were all very impressed by how quickly and easy it was to vote. I think this is the future. It took less then 6 minutes from wallet generation to vote submission. This is really unique! It was also the first time anyone from them experienced “voting on the blockchain”. Here are two short videos:
Well, at this point, any voting is considered as “signalling” to the developers. The result of the vote is not automatically included in a new fork. The code must be updated manually and proposed for approval by the miners.
We cannot in any way force the miners to approve a governance decision. They need to decide for themselves and update or not update their nodes to the latest version.
LOL electoral college of miners who will disagree with anything against their short term interests, and forget about “game theory” because they can easily switch to another shitcoin and milk it instead.
A guillotine interface is also easy. Your poll logic is fundamentally broken, it requires voters who don’t want to give you money to guess what they must vote for 0% or 1%.
With electoral college of miners it all makes no sense at all.
The only governance that makes sense is a voting for funding per project.
Regarding inflation rate I think most of the investors where surprised how big it is, because it wasn’t clearly specified in a whitepaper and during ICO.
That is not about it either. Taking a cut from lower block reward would be the same in terms of $. It is just dumb to have inflation rate this big. It is like killing the project before it even launched