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2421  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 08, 2015, 01:19:03 PM
BitJohn, Sylon,

We are dealing with inflation here. Grin
2422  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 08, 2015, 01:00:58 PM
Oh, Daedelus,

While 3% inflation could be a big problem for a country with ~$17.5B GDP like USA, you just can't compare it with cryptocurrencies. If we assume that we have a coin with 20M supply and 3% PoS interest (inflation), then we have about 606k more coins created each year. That means about ~3022 BTC (or ~$716k) pressure/inflation/year and ~$1960 volume/day, which market must deal with at the price of 500k satoshi. Don't you think that it's possible (if we assume that the coin is kept "interesting" through the years)? PoS have some great advantages and this is the most important thing in it as technology. Inflation in it is not a big deal imho.
2423  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 08, 2015, 12:29:04 PM
Daedelus, I want to make something clear and the idea is not to brag or something, but somehow to prove you that I don't need explanations about market, supply, demands etc... I have a master's degree on Marketing & Business Administration and certificate "A" from SCE (Sofia Commodity exchange).

I already said that I completely agree with your opinion, but you first might want to understand why PoS is good for the coin's network and how markets can deal with that inflation of yours. Smiley Of course my examples are valid if we are talking about perfect market environment, which is pretty much impossible in crypto-world, but I just think it can be achieved. A coin may not be perfect, but parts of it can be excellent. Smiley

Will repeat myself though... I am 100% agree with you.
2424  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 08, 2015, 12:06:01 PM
That's actually the biggest issue with purely POS coins.

I think that the bigger problem of purely PoS coins is the price of the coin. Let's say you have $100 worth of some altcoin, but the price stays pretty much the same (this example excludes declining) for a long time. Having this $100 is in no use for you, because your "investment" is not working for you. This is how this coin will die in short time.
2425  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 08, 2015, 11:21:08 AM
....
You are the one who is wasting your breath. Cheesy I will never look on PoS like real life inflation as long as the annual interest is not more than 2-4%. If the currency is developed good, market can easily deal with that "inflation". With that said, I will repeat that people will be more keen to hold their coins which vastly improves the network of the coin.

At the end I will say that I'm not arguing with you and I completely agree with your scenario about inflation, but I just think it can't be compared with cryptocurrencies.

Cheers,
Spartak
2426  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 08, 2015, 10:23:59 AM
Nxt has had zero inflation since inception and has never caused the blockchain to just stuck.

NXT PoS system is kinda different. I do like it, but I also think that there is nothing wrong in earning few extra coins while holding.
2427  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 08, 2015, 10:18:52 AM
If the coin rise steady in price

This is the problematic assumption.
In a currency with a fixed percentage of inflation, the demand has to increase forever in order to keep the price steady or rising, which is not possible on a large timescale.

Though I recently didn't followed DNotes and I think it is still PoW only coin, what can you tell about it as example for steady growth? Of course it is nearly impossible to preddict what will happen in 1-3 or even 10 years, but I think that every coin who has active development and community has a good chance for steady rise in price.
2428  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 08, 2015, 09:51:38 AM
Let's say you have 100k coins from a coin which worth 10k satoshi and it has 3% PoS interest (call it inflation if you wish.. no matter how wrong it is). This is equal to 10 BTC or ~$2370 (based on current Bitcoin price). This is about ~$70 annual profit. If the coin rise steady in price (while it have active development and adoption) let's say 5%/month your "investment" (some people think that trading or holding cryptocurrencies is not exactly investment) will grow with 60% each year. What if Bitcoin doubles it's price in 2016 after it halves? In the end that means you will make like $400-500/month while holding. Is that bad profit? Of course this is something which sounds like a scenario from science fiction, but I strongly believe that it can be achieved.

And please stop comparing PoS with inflation. Do you know what happens with a blockchain if there is no PoW or PoS? It will just stuck. Purpose of PoS is not only securing the network, but keeping it alive at low costs as well.
2429  Alternate cryptocurrencies / Altcoin Discussion / Re: So I want to try my hand at mining. on: May 08, 2015, 08:25:03 AM
The answer is pretty simple - FAILCoin. You can currently mine it even with CPU. Keep in mind that I'm not promoting it, but FAIL meets all of your requirements.
2430  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [COV] Coven [3% PoS/33k Supply][Indistinguishability Obfuscator/Anno Feat] on: May 08, 2015, 08:16:01 AM
If someone take this over he can receive up to 2k COV from donations and can buy same amount with like 0.3 - 0.5 BTC. Fixing the problem with the network + adding some features can make him really good profit, but so far it seems no one is interested.
2431  Alternate cryptocurrencies / Altcoin Discussion / Re: What do you think are the most important features in a coin? on: May 08, 2015, 08:09:00 AM
CLAMS really can be placed among good cryptocurrencies, though I've never seriously researched it.
2432  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 08, 2015, 08:05:49 AM
Not sure how this relates to what I said... but from the second paragraph it seems you think more coins = profit?

I basically mean that imho PoS can't be really compared with inflation. With that said - more coins are indeed more profit as long as the coin is stable (in price).
2433  Alternate cryptocurrencies / Altcoin Discussion / Re: What do you think are the most important features in a coin? on: May 07, 2015, 03:21:13 PM
The most important feature in a coin is to make the coin have a real life use.
Most altcoins are just selling promises without much use in real life.

This is obvious, but people are still buying promises, which are fake in most of the times. Let's discuss this like we are in perfect conditions (promised - delivered, team (let's call it that way) behind coin does not disappear soon/right after it launches, adoption, marketing).
2434  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 07, 2015, 03:15:32 PM
Coins are not exactly countries so I think that there is nothing wrong with interest/inflation as long as the price of the coin itself is steady and growing.

Here is the killer. What if it isn't growing? See my comments above. If it is steady and growing, why have inflation at all? It only counteracts any growth by spreading it more thinly over a higher number of coins.

Interest/Inflation != growing value. More coins != more value. That is just the false link that marketers want you to make when they use the term 'interest' in place of 'inflation'.

PoS is not only about inflation, but securing the network as well. I think that if a coin's community (developer/s inculded) are working hard on it's technology (and above all - it's adoption), people will be more keen to keep their coins in the wallets, which can help for several things:
- faster and more secured network
- small sell pressure on exchanges (coin can rise in price more easily)

I see nothing wrong to have some profit while supporting the coin (by holding it and not dumping it).

This of course is situation explained in some romantic way of thinking. In real cryptocurrencies life it is extremely difficult to achieve, but I think it's possible.
 
2435  Economy / Lending / Re: Need a loan, Steam Key collateral on: May 07, 2015, 01:06:46 PM
Other than that I can only offer work such as graphical design, Youtube Video creation, Make you a game maybe a simple HTML and CSS based webpage or two. 

You can offer your services/skills for btc, seems like it would be better if you just did this instead of trying to take out a loan with bad/lack of collateral.

True. I am even willing to pay you if you PM me with some samples of your work.
2436  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 07, 2015, 12:54:56 PM
The point: Inflation doesn't provide value, it erodes it. People who refer to inflation as 'interest' have swallowed a marketing ploy and are failing to understand this concept.

Coins are not exactly countries so I think that there is nothing wrong with interest/inflation as long as the price of the coin itself is steady and growing. My first opinion about PoS was "Oh, they created PoS so people can keep their coins in the wallet while creators are pumping and dumping it on exchanges.". I personally think that PoW (I find mining as funny... so does many other people) + PoS is the best combination for a coin. Everyone has his own opinion though.

2437  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [COV] Coven [3% PoS/33k Supply][Indistinguishability Obfuscator/Anno Feat] on: May 07, 2015, 11:40:29 AM
I hate to be that asshole but a takeover will never work for this coin. 

Yup.. I also believe it will not work. I raise my donation to 500 coins. Smiley


It's probably dead but I sent out some emails yesterday anyway! I offered 500 COV personally and said the community can probably raise another 1000 COV...do Not get your hopes up! we will see...
Hyperjack


So with my 500 and your 500 +300-400 more from other people we have 1400 coins which is about 4.5% of entire supply.
2438  Alternate cryptocurrencies / Altcoin Discussion / Re: Can someone explain to me how PoS works? on: May 07, 2015, 11:09:28 AM
NXT and Qora don't have interest, they only earn transaction fee. It more like all bitcoin was mined and the miner will only earn  transaction fee.
Interest is totally wrong, the infinite amount coins make is worthless.

I think you are wrong. If a coin is with let's say 20M in supply and interest is 3%/year only about 610k coins/year will be created. This is like holding your savings in bank + faster and more secured network.
2439  Alternate cryptocurrencies / Altcoin Discussion / Re: What do you think are the most important features in a coin? on: May 07, 2015, 10:56:23 AM
Like? XPY (Paycoin)?
So many promises, and what did the dev deliver?

Here you can see what I personally think about XPY. Empty promises has nothing to do with coin's development in my eyes.


2440  Alternate cryptocurrencies / Altcoin Discussion / Re: What do you think are the most important features in a coin? on: May 07, 2015, 10:20:15 AM
Personally, I have never seen any coins except Bitcoin with any features, even if any had, they were of no use because it has just been a Pump-&-Dump market, so no matter what you try to serve here, it is going to get abused hard by the whales in the end.

Whales can enter and exit. This is their thing. More important is how the community of one coin will react afterwards and if people who are supporting it (with developing and such) are still willing to stay.
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