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December 17, 2013, 10:38:05 AM
Last edit: December 17, 2013, 07:24:32 PM by colinistheman |
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How does interest work on a cryptocoin? I've never seen this quality before.
The Philosopherstone site says: "Philosopherstone provides annual interest rate of 50%, for stakes that are not moved during the period. This equivalent to 3.44% monthly interest. PoS blocks will be generated if the stake is held for more than 5-10 days."
Can someone explain what happens? Like, if I own 500 PHS coins, then after 1 year, I willl suddenly have 750 PHS if I didn't touch them?
Wouldn't that mean there would be way more than 8.8 million total PHS coins made, due to the interest growth? it would seem there would be no actual limit to the number of coins in circulation.
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