That from vertcoin bitcointalk November 2016 when the idea started too get discussed about having pct of miner rewards go too devolpmemt and they quickly implemented the miners were on board since they realized it would make everyone more money long term

Member
***


Activity: 239
Merit: 100




View Profile  Personal Message (Offline)
Trust: 0: -0 / +0
Ignore
   
Re: Vertcoin - 1 | ASIC - 0 | Lyra2RE | Decentralised | GPU Mineable | Open Source
November 16, 2016, 04:45:10 PM
Reply with quote  +Merit  #2441
Quote from: volyova on November 16, 2016, 03:47:40 PM
Quote from: griffen1102 on November 16, 2016, 01:58:36 PM
Quote from: etang6000 on November 16, 2016, 01:49:00 AM
Quote from: felix18yu on November 16, 2016, 12:30:02 AM
If you do not believe in your project, and how other people are to believe ...

I'm a miner ... here I'll give you 10% of my coin ... does that worth something?


Yes. Anything helps

Helps to do what?
Hire someone who can do something?

No one wants to work for free . I'm donating 1 btc worth of vert once we get a plan . I wouldnt urge anyone to donate until we have a plan . I'm still learning here , if I had the skill set to take lead I would , but I don't .
Report to moderator 
MIXING REINVENTED
FOR YOUR
PRIVACY
CHIPMIXER.COM
CHIPMIXERWZXTZBW.ONION
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
coninn
Jr. Member
*


Activity: 46
Merit: 0


View Profile  Personal Message (Offline)
Trust: 0: -0 / +0
Ignore
   
Re: Vertcoin - 1 | ASIC - 0 | Lyra2RE | Decentralised | GPU Mineable | Open Source
November 18, 2016, 09:15:15 AM
Reply with quote  +Merit  #2442

As long as the money is put too improving peercoin and increasing awareness of peercoin every one wins the miners have a higher price the peercoin stake holders have a higher price I think the real question should be is 10 pct the right number or would 5 pct get the job done as well when peercoin sky rockets in value because of the added devolpmemt and marketing 5 pct will be more then enough and everyone will be happy zcash takes 20 pct that's outrageously high but 5. To 10 pct would leave peercoin team with the resources too bring peercoin too the next level

A percentage of the mined coins should go too devolpmemt and marketing that's what vertcoin did that helped send the coin skyrocketing it will benefit everyone the peercoin miners and holders vertcoin had the miners on board within a few days of it being proposed we should do the same thing here at peercoin

Ppc man is so right peercoin needs marketing devolpmemt war chest or the coin will continue  too slide on coin mkt cap from number 3  4 years ago too number 220 on coin mkt cap vertcoin delegated pct of mining rewards too devolpmemt and they are now well funded and coin sky rocketed instead of same people saying they don't want anything too change let's put it too a vote I'm sure majority of peercoin holders would rather devolpmemt and marketing be well funded leading most likely too be a top 25 coin again on coin mkt cap

ppcman5h
See?

This is exactly what I've been talking about for so long now.

Peercoin believed that all they had to do was come up with great technology, keep it that way, and one day when they were ready, the floodgates would open, and people would come rushing in.

It isn't like that... Even coindesk admits it in this article:

https://www.coindesk.com/crypto-twitter-toxic-combination-troubling-future/4

Every time you see the word ARDOR or IGNIS just re-insert Peercoin into the article, and the same situation applies to our community as well.

If any of you think for a moment, that the press is going to take us into adoption or a better price "when the word gets out". It won't.

It would be wise to start building our marketing fund now, and keep building it. We're going to need it.

nohea1d
If you want Peercoin to grow in value, there needs to be an incentive to acquire it. Other altcoins have valued (pumped) due to speculation. Bitcoin acquired value first by connecting to markets - first underground, then above ground. Only after it acquired market value did speculators pump it more.

If Peercoin is not going the pump route, it needs to connect to a market. That means more merchants need to accept it, and buyers need to acquire it easily. There is a space for that since Bitcoin is often expensive to use as money, Litecoin has filled it.

Another way is the roadmap for Bitcoin Script smart contracts. If businesses eventually realize trusting their money to smart contracts written in Solidity is madness, then Peercoin has a chance at some of that.



ppcman1d
Nohea - exactly.

Time is of the essence here. While the rest of the cryptoindustry grows up, matures, and gains adoption, they are not waiting for us.

We need to remain in the public eye at all times.

Superior technologies have historically never been adopted simply because of how it was brought to the market.

Even sub-part technologies can win in the end, if they have a better marketing team. First to market means a lot in this world. We all know this...

Peercoin was one of the first to market, and then it went to sleep as far as media and the public is concerned.

If it's always the same people posting all the time, it leaves very little room for alternative opinion. I was happy to read nohea's reply.

Excellent idea peercoin 2.0

ppcman2d
Nagalim:
@ppcman you aren't even calling for a contentious hardfork. You're calling for a complete abandoment of ppc to go work on some new atlcoin you just made up.
Sorry I wasn't clear.

I wanted to launch a forked project called Peercoin 2.0 (name could obviously be changed) which would be a forked project from the original Peercoin that had this fundraising feature.

The original Peercoin blockchain would continue
The new Peercoin 2.0 fork would begin

We'd see which Peercoin fork would outlast and do better than the other.

Much like ETC and ETH

Vertcoin soared in value. 50 x plus when they implemented pct of miner rewards too devolpmemt anyone who wants peercoin too increase in value should be infavour of the foundation getting pct of miner rewards

Peer4commit shows a failed experiment of self opt-in donation funding.

We did okay with that when Peercoin was "hot". But that project died off pretty quick, got fragmented and the way new developers come in to see an opportunity to get involved look at how stale it is and just leave.

I find our community has a hard time learning from its mistakes, or changing its thinking to adapt.

The same technologies Peercoin has now, or is planning to have, exist in other chains in similar ways. We're no longer cutting edge. Yes, we do have a very reliable blockchain, that is truly decentralized, fairly launched, and not manipulated.

...which is our treasure. However, none of that means anything, if we don't keep interest and attention alive.

Ongoing, regular, and predictable funding is helpful in the mission.

Teek, legitimately wants to see the PLAN, and says if there was one, funding definitely will come.

Isn't that counting eggs before they are hatched? How can we possibly come up with a PLAN for fund generation and spending if we have no idea of what how often, and to what amount, the income will be?

Any business must have a path to profitability for funding its growth, and we don't have that..

Our business plan seems to be "we'll plan growth, development, and adoption" and hope the funds will show up on time to support it.

That's a flawed plan to success in my opinion.

I've said enough. You know how I feel. I'd like to sit back listen to the rest of you decide.

4 Replies

ppcman9d1
I'd like to make something very clear.

When I first joined Peercoin in 2013 until now, I've met numerous resistance for things from people who like a "tread lightly" approach to everything we do..

That mindset has gotten Peercoin from #3 spot, steadily falling fast on coinmarketcap to #192 spot today.

If I keep hearing things about opt-in, and passive donation schemes, you are all going to lose. Please re-think your position.

This is time to do something aggressive.

You want a significant change to the way Peercoin shines and is adopted? Then you have to make a significant change to your thinking too.

Go into unexplored territory. We can't be doing any worse than we are now.

Raising eyebrows? Excellent. YES! Raise eyebrows. Make it OPT-OUT

We always seem to hear from the complainers the most. They are the most vocal. There is a passive majority that never post, and fully agree with me. I've met them. They've given me wallet donations in my profile sig before. When we changed to discourse these people seemed to have disappeared at the exact same time

More info: https://en.wikipedia.org/wiki/Peanut_gallery3

However, raise some eyebrows, get things moving where they need to go.. these people will return.

2 Replies

ppcman11d  Sentinelrv
Sentinelrv:
So I did a little math. The current supply is 24,772,330. 1% yearly interest is 247,723 PPC. As a default baseline, 5% of that yearly interest comes to about 12,386 PPC. Current dollar value of that is around $30k, which is ok as a base to work from, especially if the price increases from the work we are doing.
Good numbers, glad you took the initiative to check that for us. Thank you.

The problem is that this figure is only accurate when you have 100% of participation in minting. It is the maximum, which we are far from. So if you divide that figure by another 20x you end up with about 500 PPC/year, which is barely over $1,000.
Increasing the mint reward "per block" is another option. Whether it is 21 million circulated or 42 million circulated seems to mean very little these days if you look at the amount of coins in circulation on coinmarketcap. Coins with 3 billion out there, or 30 billion still seem to do well. Does that make sense? Not to me.. but it doesn't seem to retract from their trading volume. :stuck_out_tongue:

That's a bit of a stretch to think about at this point, but it is an option.

So it seems that this is not a proper solution either unless you can think of something that I'm missing @ppcman. We would most likely get more funds just from installing a manual donation button in the wallet.
Knowing that this is in place, and is working, on any level, will raise eyebrows, encourage participation, and could easily raise Peercoin 3x to 6x current price especially knowing that the end goal is to better Peercoin, promote it better. etc.

These numbers you have calculated mean very little in the long-term.

I personally deliberately didn't buy Ethereum because of its failed initial launch (which had to be rescheduled) its strange mining in the beginning, the lack of documentation, etc. I watched it grow from $3/ETH to what it is now (before the fork to ETC and ETH)

....these things have a way of mooning pretty quick. As long as your infrastructure makes sense and your distribution is working... the price and value of each coin will take care of itself as time goes on.

Start here, and adjust as necessary.

Remember whether you DO SOMETHING or DO NOTHING you will always have gripes and complaints. Begin somewhere and progress forward, always, and the market will follow with a positive outcome if what your doing has a positive outlook.



ppcman11d
By the way, if this was ppcman-chain and not Peercoin, I might have opted to have a 2% minting reward, with 1.25% payable to to the user, and 0.75% payable to the multisig Foundation address that is hardcoded into the protocol and verifiable by every node on the main chain.

There is many ways to do this... :slight_smile:

That is an excellent idea vertcoin took a pct of mined coins for devolpmemt and the coin soared in value some thing needs too be done too stop peercoin drop,on coin mkt cap from a top 25 coin too number 215 

The development of PEERCOIN to the present stage is not easy, the development team has been working hard, but now PEERCOIN is facing a huge challenge, from 2013 ranking third, has slipped to 200, and there is still a tendency to continue to slide. In the face of major changes in the block chain industry, the development team is very thin, many developers turn to paid services, making many development work difficult to make progress. If there is no corresponding measures to prevent the tragedy, then PEERCOIN will become history, forever buried.So we recommend the establishment of the PEERCOIN development foundation to help the development of PEERCOIN out of the dilemma, and ten percent of the PEERCOIN mining earnings are used to pay for the development foundation

When you see the 51 pct attack on bitcoin gold I know for 51 pct attack too happen with peercoin the price would have too rise too 1000 plus per coin making it unprofitable too try I was wondering if anyone new what the list of coins most unlikely too be vulnerable too a 51 pct attack and were peercoin ranks on that list

No proof just strong feeling no way these 1700 plus pages are being wasted on a blacknet that's never coming

Peercoin energy efficient and has very low,inflation bitcoin blockchain uses .05pct of all,the worlds energy and it's increasing its energy consumption sooner or later people will dump there bitcoin and buy peercoin which will send peercoin over 200 dollars in the not so distant future

Rat 4 didn't keep,this thread for blacknet because blacknet s not coming Soon

I have no doubt rat4 working on something and it's probably something great for blckcoin/blacknet