[GIP] Burn all gas fees about gips HOT 6 CLOSED

Good let's Burn everything and get rid of inflation 1bil go is more than enough

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Even less than 1 billion works

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roughly 14 tps, rewards will be eliminated

My calculations show the equilibrium point at around 33 tps:
Rewards are 7 GO per block. So it would take 7 GO per block / 0.042 GO per tx / 5 seconds per block=33.3 tps (2.5% load)

Here is a chart projecting the total supply over time at various constant loads (if this change were applied in 2 weeks):

Notice:

• 0 load continues the existing trend of reward inflation without this change.
• 2.5% load levels off around 1,111,369,384 GO.
• 5% load causes deflation roughly mirroring the standard 7 GO reward inflation.
• 10% load causes around 3x the deflation of 5%.
• 50% load quickly burns all tokens in ~18 mos
• Although we can calculate and state the deflation over time in relation to total supply, the actual decrease from the burn does not depend on total supply in any way. A steady constant load and thus burn rate actually produces accelerating deflation as a percent of total supply, since the supply decreases over time.

Here is a table of the change in total supply per block at some of these loads:

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My calculations were based on a GO20 transfer which cost roughly 0.0001 GO per tx, or 0.1 GO after #29. I think we can safely assume the vast majority of transactions will be smart contract operations like GO20's. More complex transactions like a swap are 2-3x that and if a lot of transactions were like that it would be about 4tps to hit equilibrium.

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Vote Details

start_time:2020-12-10T20:00:00Z
end_time:2020-12-12T20:00:00Z
contract_address:0x6eab94D332E971f0c89f8b4273138FCE8b5dA0C5
choice_1:yes:0xdfb1fFceebCB9b9737C29B8B338D87f196C62e86
choice_2:no:0xD10aF548625E68F97013FaE2d14343EBa46C6952

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This is going live on mainnet in one week...

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