also guys keep voting on mintpal if you can .... we need to have a decent exchange ready for when beecoin is off an running well again.
I know a few of you have voiced concerns over the minting rising to 30bn and i kind of agree that it is diluting your holdings a little bit.
However POS is going to be essential for extra security to the chain.... the other option is to just have a very low interest rate on the pos... i kind of agree with this idea.
1. it does not need then lots of incoming buyers to hold the price stable.
2. it does not encourage hoarding
3. people who think high POS attracts investors are wrong these coins go up and down 50% in a day so 20% per year is nothing.
So we can remain at 24 billion with 1-2% inflation per year.
Please make your thoughts known on the subject since it does effect you personally.
Also let's start having some marketing ideas.... come on community i know you guys are waiting for algo changes etc... however let's see here who is seriously got some decent ideas for marketing or generally improving beecoins standing...
1. website.
2. android wallet
3. tip bots.
4..... come on let's have some ideas...
We should already be at 12bn bees. adding 6bn to 24bn is not too much - most of the extra coins will be used to alter block reward scaling, for POS and BLOCK TAX.
We need BLOCK TAX, to fund GAMBLING GAMES, FAUCETS and even bee projects.
I feel that an initial HIGH POS of 20% that runs for 6 months, followed by a reduced POS will attract members.
Everybody wants something for free.
I disagree with you on your idea of POS.
HIGH POS will result in hoarding - THIS MEANS THAT MEMBERS WILL PREFER TO HOLD ON TO THEIR COINS, TILL THEY EARN A HANDSOME INTEREST, RATHER THAN SELL THEM FOR PEANUTS.
HOARDING CAUSES SCARCITY, SCARCITY CAUSES PRICE TO SKY ROCKET - this is a good thing.well the main thing is this... supply and demand... right now we have a ton of supply and no demand.
We need to create demand not supply. Increasing 6BN is okay but it just creates 6BN more coin you need buyers for, and means each coin everyone has already is worth less. Really increasing 6BN makes peoples coins worth 25% less i guess since that is a quarter of the entire minting.
20% i don't think will attract new buyers... like i say you see a coin goes up 50% in a day will you keep it because you can make 20% in a year.
if they do hoard for the first year this could be worse in a way because no way can we afford to inflate 20% every year beecoins would be worth nothing, and then when the hoarders dump it will crash the market in a bad way.
Also changing the block scaling is only essential if we don;t add pos... if we are adding pos then that is not important.
How can we possibly think of 20% because that is nearly 6BN in just one year? that is all of the extra coins nearly .. then we have no more coins left for POS after that? we need many many years of POS payments so i suggest 1% max perhaps less, we will need to encourage ppl to keep their wallets open in other ways they are just for security anyway whilst we have miners, when we don;t have miners we need them to mint blocks.
If we want POS actually we will have to slash block reward smaller and just inflate 1% per year max. However we decide 20% is completely impossible for that in the first year alone will put us to 30BN then futher years even if we drop lower.... actual minting will run to tons of billions more than we said already.
That will make coins worthless. So much supply and no demand.
1. get beecoin on new algo if everyone wants this ...essential pos really unless totally changing block scaling. whatever this is just to secure the blockchain.
2. get some services and marketing to build demand
that is key.
Of course everyone can vote this just my opinion, but increasing supply by 25% is very risky with no demand.... most coins try to sneaky reduce supply so peoples coins are worth more, we are thinking of making them worth less. This is not a good plan in my opinion. I thought a few extra maybe 26B would may be a good idea before but the more i think about it there is a good reason why a lot of coins reduce their minting not increase.
Agree on the gamblling and games vs just giving away though for sure.
I guess soopy will need to know if he is to get on.... so we need more input as to whether increase the minting or keep it the same. We should not really decrease the minting because although it will make your coins worth more it could be seen as cheating new miners if not sticking to original rules. Maybe smooth out the minting a bit and perhaps 1bn extra max.
come on people have your say in the matter before it happens.
The most important thing is to create the demand for beecoins, not too many people have ever heard of beecoin right now, the bees community really need to do something to make it more attractive.
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