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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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Are you referring to inflation of total coins or inflation on size of blockchain?
The compounding period is subject to the law of diminishing returns and the total % of POS interest is fixed to 125% nominal interest if I understand POS design correctly. At some point the number of compounding periods have a very small impact on the total. Initially the impact is greater but later on it does not matter if you use 100,000 or 1,000,000 compounding periods. See graphs below. However, I understand the impact of number of blocks on the block chain. BTC is 20+GB over its life, although it must be said it depends on the number of tx in a block. Having said this, in the case of BTC there might be 1,800 tx in one block during 10min, but with a 60s block chain it might have had 180 tx per block so the net increase would be the fixed bits per block excluding tx. If the fixed part is large then yes there would be a much more bloating. I think the answer is in the intended use. Will the coin be used more for just paying on a website or will it be used for day to day retail payment? If the intended use is not block time sensitive, then a longer blocktime can be used. If the use is time sensitive, then a shorter block time must be used.
I would still keep with the 40s and re-evaluate in a year or so if the decision is based on inflation of coin alone. It is a different matter if the decision is made on bloating of the blockchain. Any other views from the community?
Shall we go with a 60 second block time? In terms of retail making a payment and then waiting for the product to be served and handed over following confirmation of payment is likely to take between 60 and 90 seconds so that would be a safe block time for a confirm don't you think? 60s is fine with me. You've done alot of investigation into the mathematics of the best possible configuration, also PressTab is very experienced. I am happy with anything you two decide, shall we go with the 60 second block time initially and then see how things go from there, is there a better combination JC12345 and PressTab? |
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Are you referring to inflation of total coins or inflation on size of blockchain?
The compounding period is subject to the law of diminishing returns and the total % of POS interest is fixed to 125% nominal interest if I understand POS design correctly. At some point the number of compounding periods have a very small impact on the total. Initially the impact is greater but later on it does not matter if you use 100,000 or 1,000,000 compounding periods. See graphs below. However, I understand the impact of number of blocks on the block chain. BTC is 20+GB over its life, although it must be said it depends on the number of tx in a block. Having said this, in the case of BTC there might be 1,800 tx in one block during 10min, but with a 60s block chain it might have had 180 tx per block so the net increase would be the fixed bits per block excluding tx. If the fixed part is large then yes there would be a much more bloating. I think the answer is in the intended use. Will the coin be used more for just paying on a website or will it be used for day to day retail payment? If the intended use is not block time sensitive, then a longer blocktime can be used. If the use is time sensitive, then a shorter block time must be used.
I would still keep with the 40s and re-evaluate in a year or so if the decision is based on inflation of coin alone. It is a different matter if the decision is made on bloating of the blockchain. Any other views from the community?
Shall we go with a 60 second block time? In terms of retail making a payment and then waiting for the product to be served and handed over following confirmation of payment is likely to take between 60 and 90 seconds so that would be a safe block time for a confirm don't you think? |
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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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ok, 0.1 btc on the way 1f179d69fe8b02e0b331b97662b1ee2ec88cae312f7837f57811c6fd65c6b990
Thanks Pierre!! Received with thanks. That's 0.35 BTC now towards the Hard Anal Fork. Analicious!! Now just 0.15 BTC to go  |
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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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Just a technical side-point that drives me nuts sometimes. TEK is 500% annual rate  It is all right there in their source code  But that doesn't stop you all from going 480% You are correct kind sir! It's also on their Bitcointalk thread, that's funny I recall people calling it a 40% per calendar month stake, anyway what's 20% between friends lol Thanks for pointing it out though |
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Voting will end at midnight tonight so if you want to vote you should do today, then the winner will be the one with the highest votes.
Once that's done we will look to contact the original dev and look to get everything setup for a fork, it would be best if he was to give us his support rather than do it without support.
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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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1st Round Voting Results
The voting has been locked with the following results;  The vote will now be reset and offer a selection between the top two results which confirms the findings of JC's analysis.
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JC, excellent ANALysis of the POS vectors, calculations and graphical representations, really nice work and helps us picture the various ways forward.
Based on the information I have closed the vote and will re-open the vote between the two highest POS votes which are ;
100% (3 votes)
125% (3 votes)
I would recommend we select one of these and like JC recommend have a 30 day min stake so that it discourages dumps and fast move around of coins.
I would also recommend we simply implement a straight forward flat % POS with NO decline until we have sufficient funds to invest, in which case a further planned hard fork in 2 years would be sufficient to reduce and adjust the POS percentage to meet increased or reduced consumer demand.
I have 0.1 BTC available to put towards the initial hard fork, with a further commitment of 0.1 BTC from a further 4 people that would fulfil the round for the initial hard fork.
Thanks again JC for the work on coin supply, graphs and numbers, which does show the best curve for adoption is 100 - 125% as voted.
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Looks like 100% and 480% are winning at the moment.
I think we should give it a day or two and then have another vote between the top 2 to see which one should be selected?
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Please vote on the % proof of stake for the hard fork please, I am just thinking a higher POS may be better to increase market liquidity and allow a better spread across more exchanges as popularity grows.
Go bezerk like igotspots did with 10k That would be a lot of anal Think coins like snowballs and maeuticoin are mega high POS 5000% but their lifetime will be limited because of so many coins being produced. If we were to keep on the safe side of TEK then I think that would be the best way forward, although it doesn't really make a huge difference, but it would be better to hold value higher than just a few buttoshis. |
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Please vote on the % proof of stake for the hard fork please, I am just thinking a higher POS may be better to increase market liquidity and allow a better spread across more exchanges as popularity grows.
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This post was inappropriate and posted during a time of personal and mental health issues, sorry.
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