(from bitcointalk.org discussion)
with logarithmic reduce, early adopters have too much ?”
Thanks for your comment Salim, it gives us a chance to step back and compare mainnet bitcoin and woodcoin release functions.
It may seem like logarithmic is too fast for the very first part of the curve. That’s why we have a forest. However very quickly you will see that the logarithmic curve is the slower release. Remember we reach half of our total supply after well over a hundred years. Bitcoin released half the supply in four years.
Right now we are at about 34 LOG per block, and our two minute target means 30 block an hour or 720 blocks per day. Thats close to 25,000 LOG per day. Note that Bitcoin is at about 3600 BTC per day released at the moment. Yes we are faster now.
When we hit block 200k, we will have a reward of 5 LOG per block and our units per day release will exactly equal BTC. This will happen in about 9 months from now. At this point, new LOGs will start entering the system more slowly than new BTCs.
However sometime in 2016 mainnet bitcoin will reach block 420,000 and the reward will drop in half, so only 1800 BTC per day. At this point, the newly chopped LOG supply will again be larger than newly chopped BTC.
Then when woodcoin reaches block 400k, we will be at 2.5LOG per block and again we will be releasing newly chopped LOG slower than BTC.
In 2020 sometime, BTC will reach block 630,000 and the reward will drop to 6.25 BTC per block or 900 BTC per day. This is about 1.5 million LOG blocks away from now. At this point, newly chopped LOG will be coming in more slowly than newly mined BTC.
This kind of behavior will continue until about 2032. At this point, the coinbase reward for BTC mining will be in total 112.5 BTC per day, to be shared by all miners. There will still be more than 150 fresh LOG released per day at that point. From there on into the future, there will always be more newly released LOG than BTC.
At that point and forever into the future, it will be clear that BTC is the coin that more heavily favors the early adopters.
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So why do we mine or chop? Of course we want to support the network, to help each other transact. But also we are doing so because we think that the LOG we are chopping (or BTC we are mining) will be more valuable in the future. We seek an early mover advantage. Network participation is incentivised by the chance to be an early adopter.
It is not clear what will happen when that incentive is removed. In 2016, with 3/4 of the BTC supply released, will miners still consider themselves early adopters? How about in 2030? How about in 2130 when there is zero coinbase reward?
With woodcoin, there is ALWAYS the early adopter advantage. Even a thousand years from now, new choppers will come across woodcoin and say: tomorrow’s choppers won’t be able to get as many LOG as I can.
Conclusions: Get chopping!