I think the initial 800,000 sold every month by Steemit Inc is a healthy approximate number going forward. So I would round it up to 12.5% yearly or 8 years.
I think there is an argument to make the accessible % a witness parameter (capped) as well. What if some day an urgent security audit is required and a down payment needs to be made. But I would only favor that if 17/20 are counted and lowest common denominator of those 17. If a potential can of worms is opened, it should be made as hard as possible to game.
We are overspending already. About 1752 HBD comes to the dao every day via the inflation, but we are spending ~2616 HBD per day.
This sounds like a bug. The 1%, or actually 1/24th since paid hourly, should not be exceeded if hard coded in the chain and be distributed among the top voted proposals. If one proposal earns only a share because of that and some drop out... code is law and 1% is codified.
Times like this could be another argument for the witness parameter if the current paid out proposals cover critical dev.
The return proposal should be the protection when we underspend only. Top votesd ranking at other times.
That's a good point !
it's not a bug, it's 1% of the total amount in the fund, not 1% of the inflation to the dao.
I think it's a good mechanism because the fund may fluctuate depending on external factors like donations / ninja mine conversion / inflation.
My bad re-bug. I deducted from that one quoted sentence about "overspending" without checking the actual current numbers. I should have better there and fully agree with the rest of your reply about that.
no problems :)