And because I can never remember the ip address this also works: http://crowning.masternode.io/~pub/Dash/masternode_payments_stats.html
December 2015 Budget Proposal
- Thread starter eduffield
- Start date
I'm late to the party but my question pertains to the burning of the dash not getting created and allocated on each budget month. Please correct me if I'm wrong but it seems there has been a few months where we have not been able to have enough projects to allocate the entire budget of coins. These coins end up simply not getting created which as I understand it means our new coin supply will change by the end of this project:
$total-coin-supply = $total-coin-supply - $coins-not-allocated-for-budgets
Has there been any discussion about putting these unallocated coins into a cold storage or even masternodes managed by the foundation by for future community investments. Perhaps to provide matching grants or something of the sort like other community foundations do. It seems silly to just give up the ability to allocate them at some point in the future as well as simply lose all the coins. Perhaps I'm not understanding things properly if so someone please point this out for me.
Dash un-allocated in budgets outlines I could dig up:
October budget: 7990 - 7524 = 466.00
November budget: 7990 - 7700.69 = 289.31
December budget: 7999 - 7162.17 = 836.83
------------------------------------------------------------
Total Budgeted Dash Unallocated: 1592.14 (1.5 masternodes)
Perhaps eduffield or fernando could comment on this.
$total-coin-supply = $total-coin-supply - $coins-not-allocated-for-budgets
Has there been any discussion about putting these unallocated coins into a cold storage or even masternodes managed by the foundation by for future community investments. Perhaps to provide matching grants or something of the sort like other community foundations do. It seems silly to just give up the ability to allocate them at some point in the future as well as simply lose all the coins. Perhaps I'm not understanding things properly if so someone please point this out for me.
Dash un-allocated in budgets outlines I could dig up:
October budget: 7990 - 7524 = 466.00
November budget: 7990 - 7700.69 = 289.31
December budget: 7999 - 7162.17 = 836.83
------------------------------------------------------------
Total Budgeted Dash Unallocated: 1592.14 (1.5 masternodes)
Perhaps eduffield or fernando could comment on this.
M
MangledBlue
Guest
My understanding is
- "they" want those coins to burn
Not sure why....
- "they" want those coins to burn
Not sure why....
Solarminer
Well-known member
The reason we only want to allocate budget funds when there is a project to pay is to control the quality of projects. If you have all the coins, and the only choice is to determine where or who they go to, there will be waste. Eventually, Low or no quality projects will get funded. By allowing funding to not get allocated or projects to not get funded, this controls quality.
When coins are not created that increases the value of the holders of Dash holders. Value isn't lost, it just isn't inflated away from holders and given to new coins. Dash is not burning the coins - that only happens when you have coins first. The unallocated coins are just not created in the budget superblocks. Yes, this will slightly reduce coins supply, slightly increasing the value Dash.
As Solarminer has said supra, the system was designed this way to avoid poor quality projects being funded. When the budget system was presented and discussed many people in the community were worried about "pork barrels" being created and stupid projects being funded because the funds were already there anyway. There was also discussion about keeping the funds for future projects, but that also raised questions about the management of those funds and how to account for them. I personally would have preferred that system because it would allow for saving for future bigger projects, but I totally understand the concerns about who keeps those funds and how they are controlled. I think that the current system is the one with the smaller problems, but it is far from perfect. I don't like to mess with the supply either, but reducing the number of coins is less harmful to current holders than the other way around.