[ANN] ★ Save and Gain ★ COINSWAP ABOUT TO START -> POS/POW X11

[Lovethecoins]

It's a tough question. Stakes are set in OP for 3 more yrs. before reducing. Not sure of block time but 100 blocks last
11 hrs or 20,000+ coins per day. If that block time is accurate over the year then, 7 MM coins per year.

Staking hopefully would get people to hold and more total people involved with the coin but,
deciding % (increased coin supply) and min. days for stake is criitical. 20% is a minimum I
think to get people to hold but, that adds another 520k more coins per yr. Stake min. days
should be long (15 to 30 days).

Bottom line, we need a bigger portfolio and, possibly, a burn of a % of purchased coins to
offset increasing supply.

I like the longer stake also sprouts is a little fast IMO... 15days would be perfect but also you don't want hyper inflation

[goodguyed]

I've been just going off of the idea that this coin is going to slowly increase in value due to the staking holdings. As these grow, more BTC is available for buy back, which buys back more coins. PoW decrease vs PoS implementation is a good discussion. PoS implementation is definitely more fun/enjoyable. PoS decrease may help make the buy back have more of an impact sooner rather than later. Yes?

[Woody20285]

I've been just going off of the idea that this coin is going to slowly increase in value due to the staking holdings. As these grow, more BTC is available for buy back, which buys back more coins. PoW decrease vs PoS implementation is a good discussion. PoS implementation is definitely more fun/enjoyable. PoS decrease may help make the buy back have more of an impact sooner rather than later. Yes?

Did you mean POW decrease?

[Woody20285]

I threw out the idea of a coin burn from stake purchases.
It is not clear that any burn is currently happening.
Are purchased coins just coming back on the market?

[crunck]

I threw out the idea of a coin burn from stake purchases.
It is not clear that any burn is currently happening.
Are purchased coins just coming back on the market?

Very few go back into the market, some do by way of the cryptopia tip bots, and yobit codes, and I have given a few away, but this then leads onto a valid point above, in that if i turn my wallet on during the POS stage the interest will drop for others as my wallet will be fairly large.

I'm not a fan of burning I have to say, I would rather use the funds as bounties and give aways etc but alas as this is not my coin but our coin I will do what ever this community wish's me too, I could also just create a development fund and throw all the SandG in there ?

Seems we have endless questions and lots of various answers, you just got to love crypto I know I do....

[Tortoise75]

Very few go back into the market, some do by way of the cryptopia tip bots, and yobit codes, and I have given a few away, but this then leads onto a valid point above, in that if i turn my wallet on during the POS stage the interest will drop for others as my wallet will be fairly large.

I'm not a fan of burning I have to say, I would rather use the funds as bounties and give aways etc but alas as this is not my coin but our coin I will do what ever this community wish's me too, I could also just create a development fund and throw all the SandG in there ?

Seems we have endless questions and lots of various answers, you just got to love crypto I know I do....

I'm not such a fan for an actual burning address either because it makes a restart after a coin served its purpose after a first run or a change of course more complicated, aka hard fork only. My suggestion would be you install a second wallet. If you don't have a second PC that's a bit of a hassle though but you only have to do it once since all needed now would be keeping that wallet.dat and an address to send the funds to. Keep an amount, the staking is growing so as an example 25% (I have no clue how much is needed to keep them running), for fountains, tip-bots and give-aways and send the rest to the sleeping wallet. That way there won't be any issues keeping your normal wallet open.

[Woody20285]

Might be best to just stay the course you set at the beginning.
I love Crypto - I hate Crypto. I can't decide.

[crunck]

The money stuck on trex has now arrived

I have bought us a further 20k Sprouts, and have a buy order for 16190.81533902 Paycon

[Lovethecoins]

The money stuck on trex has now arrived

I have bought us a further 20k Sprouts, and have a buy order for 16190.81533902 Paycon

Woohoo growing growing growing! What happens when the balance out weights the marketcap 

[doothewop]

Woohoo growing growing growing! What happens when the balance out weights the marketcap 

Doesn't it already?

[Tortoise75]

Woohoo growing growing growing! What happens when the balance out weights the marketcap 

Doesn't it already?

It did once I believe but the market cap rose since then to 1.26 BTC. Now its the asset balance chasing the market cap again. Onwards and upwards.

[Lovethecoins]

Woohoo growing growing growing! What happens when the balance out weights the marketcap 

Doesn't it already?

It did once I believe but the market cap rose since then to 1.26 BTC. Now its the asset balance chasing the market cap again. Onwards and upwards.

If we could find another way of making assets for this coin other than just the staking it could really excel.. now we just gotta find out what that thing is

[Lovethecoins]

Switch into POS and all the miners can sign up here.. so they can mine other coins and buy this one

http://steakcloud.com
https://bitcointalk.org/index.php?topic=1178345.0
https://www.youtube.com/watch?v=6EZecupoig8

[Tortoise75]

Yes, it works well for STEPS. There's just one problem, this coin is heading for hybrid so far. I don't feel like we should shut the miners out that brought this coin into its first life and supported it into its second until now. Still, we can try, perhaps Steakcloud might even add SandG into their mining pool as well and buys SandG for the other algos (and the own if another coin is chosen for mining). Two things I'm not sure about is, one, the algo. SHA256 is pure ASIC territory and its hard to beat Bitcoin in profitability on its own turf. And two, if Steakcloud is interested in a coin with buy back program. Another thing would be getting more interest in the coin, Steakcloud seems to really add only quite selected coins, but that's needed, like having PoS going, anyway.

If we could find another way of making assets for this coin other than just the staking it could really excel.. now we just gotta find out what that thing is

Yes, indeed. Not that easy though. Well, there are things like mining contracts/share like DCR started with, if there would be some with S7 these could go quite well. But that needs quite a lot of funds and we're not really close at a point to split off these amounts from the staking assets.

Then there are trading bots, manual would take too much time. I don't know how well these work though, especially in saving time. Lovethecoins, didn't I see your name in the CryptoCircuits thread? If so, is that coin still staking and how well and how is their bot working? Shares the problem with the mining shares though, it needs a nice starting capital.

Like someone said in the CAID thread there was a coin, ChanceCoin, running a betting game and using the profits to buy back its stock. Didn't work out, was too slow, died. But here it would just be a secondary asset. Still there are lots of dice and wheels out there, is there a chance to attract at least a few players to make it feasible? Well, at least we've got those standard games available, that is Crunck does, although I feel he should get the CAID to pay for it (wouldn't say no to a discount though ).

The most difficult would be running a shop. But there are a lot of things, you need a product, you need competitive prices while still getting profit out of it, you need trust and there might be a legal side (taxes).

EDIT: Got and sent a small batch of HYP on trex earlier today.

[Lovethecoins]

Yes, it works well for STEPS. There's just one problem, this coin is heading for hybrid so far. I don't feel like we should shut the miners out that brought this coin into its first life and supported it into its second until now. Still, we can try, perhaps Steakcloud might even add SandG into their mining pool as well and buys SandG for the other algos (and the own if another coin is chosen for mining). Two things I'm not sure about is, one, the algo. SHA256 is pure ASIC territory and its hard to beat Bitcoin in profitability on its own turf. And two, if Steakcloud is interested in a coin with buy back program. Another thing would be getting more interest in the coin, Steakcloud seems to really add only quite selected coins, but that's needed, like having PoS going, anyway.

If we could find another way of making assets for this coin other than just the staking it could really excel.. now we just gotta find out what that thing is

Then there are trading bots, manual would take too much time. I don't know how well these work though, especially in saving time. Lovethecoins, didn't I see your name in the CryptoCircuits thread? If so, is that coin still staking and how well and how is their bot working? Shares the problem with the mining shares though, it needs a nice starting capital.

 Yes I use the circ bot the problem is it is not connected on yobit.. I like your input though

[crunck]

Some interesting stuff written above, Its late now so I will re read tomorrow

Also we now have a tipbot on our IRC channel : https://kiwiirc.com/client/irc.kiwiirc.com#SandGCoin

[crunck]

180 CON staked
135 sent to topia
0.00076931BTC

1663 SPROUTS Staked
1247 sent to topia
0.00438066BTC

145 TEK Staked
108 sent to topia
0.00328741BTC added to the 63 TEK sell order we currently have on there.

HYP is on 9-13 days
XRA is only on 400 staked so I will pass that for a while.

Edit :

OP has been updated and we have now gone over the 1BTC value in holdings...... Well done everyone.....

[Tortoise75]

Nice, was about to write we're almost at 1% buyback/week now but then I noticed our marketcap has almost doubled since last week ago. While the latter probably is still under the direct influence of some recent buy backs that ol glacier of a market has started moving and its moving up.

Thinking of it, I like that picture of a glacier representing a coin market. Coin markets do have a inherently built in down force due to rewards, PoS and PoW, added to the weight of the market like snowing on a glacier. To counter or even reverse that you either need a growing countering pressure like uses or incentives to buy and hold the coin and/or a warming climate melting down the market like buying back and burning/locking these coins.

[crunck]

Time to get us listed on C-CEX I think..

Free votes https://c-cex.com/?id=vote

Paid Votes 14i619bjEpzDKqRMwTvUozw13LR73i1YdF

Ive just sent 0.13 BTC over there, we are currently 7th

[Tortoise75]

HYP is on 9-13 days

OK, another 10k are on their way. Once matured that hopefully brings them on a 7 day or so rate. No excuses for that coin anymore, time to show if it's worth staking.

Btw. these estimations in wallet for staking time, are they like a rough average time aka 50% chance to get a block?