[ANN][SHIFT] The New Web | IPFS/Phantom | ShiftNrg.org Hosted Decentralized!

[dannygroove]

Sorry if this has been asked before.

Is there a limited supply?

[Maverick69]

Sorry if this has been asked before.

Is there a limited supply?

Hi dannygroove,

Shift doesn't have a limited supply, however at some point (targeted at around 8M supply), Shift will become hybrid PoW-PoS and the number of new coins generated will drop dramatically.

[dannygroove]

Sorry if this has been asked before.

Is there a limited supply?

Hi dannygroove,

Shift doesn't have a limited supply, however at some point (targeted at around 8M supply), Shift will become hybrid PoW-PoS and the number of new coins generated will drop dramatically.

Thank you for your answer, how will generation of new coins be distributed among participants by the time the network shifts to hybrid? Is there somewhere I can read about it?

[ShiftConnect]

Thank you for your answer, how will generation of new coins be distributed among participants by the time the network shifts to hybrid? Is there somewhere I can read about it?

That is currently not yet defined, distribution will very likely be comparable to traditional means of existing first and second generation digital currencies. Just as proof of work is handled by GPUs in a similar fashion for most altcoins as well as Shift, proof of stake will be similar to schemes existing now.

There will be a difference however, which is Shift's own Stakenodes. If users run a node that helps the network, they will receive a percentage of every block's reward.

[dannygroove]

Thank you for your answer, how will generation of new coins be distributed among participants by the time the network shifts to hybrid? Is there somewhere I can read about it?

That is currently not yet defined, distribution will very likely be comparable to traditional means of existing first and second generation digital currencies. Just as proof of work is handled by GPUs in a similar fashion for most altcoins as well as Shift, proof of stake will be similar to schemes existing now.

There will be a difference however, which is Shift's own Stakenodes. If users run a node that helps the network, they will receive a percentage of every block's reward.

Thanks for the informative answer.

[ShiftConnect]

Thank you for your answer, how will generation of new coins be distributed among participants by the time the network shifts to hybrid? Is there somewhere I can read about it?

That is currently not yet defined, distribution will very likely be comparable to traditional means of existing first and second generation digital currencies. Just as proof of work is handled by GPUs in a similar fashion for most altcoins as well as Shift, proof of stake will be similar to schemes existing now.

There will be a difference however, which is Shift's own Stakenodes. If users run a node that helps the network, they will receive a percentage of every block's reward.

Thanks for the informative answer.

Anytime!

[Mokota]

Hi, i invested the last days a bit in shift and i have a few questions.

You are planing to move to PoS. I like it, but there's one major problem with it. Only the rich people benefit of it.
I thought about a model, which could decrease this effect.
I saw you plan to hybrid it... So if you have lets say 50% PoW/50% PoS, then you don't need to protect PoS so hard.

So you could divide the stakeholder value.
60% of staker rich people (above 75% of average wallet value) to ensure the network (or even less because you also have PoW)
30% of staker between 25% and 75% of the average wallet value.
and 10% for anyone.

Thats just numbers, of course you can adjust it, but i think shift would benefit if you would open PoS also for the little guys.
You could also use a system, which adjusts the percents based on manipulation.
So by default for example 60% rich stakers and if manipulation happens, the percentage increases.

My next question is about the roadmap. Are there any vague dates? Or even quarters or something like that? Sure i know things need time, i'm an hobby developer myself, but would be nice if you got anything.

My last point is about the wallet. You really should ensure to keep the GUI wallet working in future. No investor will take this projekt serious without it. Sure, they will probably not use it theirself, they will use online services. But it's just important to see there is one.


So i wish you the best, and i hope this project gets really big

[ShiftConnect]

Hi, i invested the last days a bit in shift and i have a few questions.

You are planing to move to PoS. I like it, but there's one major problem with it. Only the rich people benefit of it.
I thought about a model, which could decrease this effect.
I saw you plan to hybrid it... So if you have lets say 50% PoW/50% PoS, then you don't need to protect PoS so hard.

So you could divide the stakeholder value.
60% of staker rich people (above 75% of average wallet value) to ensure the network (or even less because you also have PoW)
30% of staker between 25% and 75% of the average wallet value.
and 10% for anyone.

Thats just numbers, of course you can adjust it, but i think shift would benefit if you would open PoS also for the little guys.
You could also use a system, which adjusts the percents based on manipulation.
So by default for example 60% rich stakers and if manipulation happens, the percentage increases.

My next question is about the roadmap. Are there any vague dates? Or even quarters or something like that? Sure i know things need time, i'm an hobby developer myself, but would be nice if you got anything.

My last point is about the wallet. You really should ensure to keep the GUI wallet working in future. No investor will take this projekt serious without it. Sure, they will probably not use it theirself, they will use online services. But it's just important to see there is one.


So i wish you the best, and i hope this project gets really big

Hi Mokota,

thanks for the kind words and your support!

The details about what happens after POW have not been in any way fixed. Usually there is no difference between POW and POS as you can argue that both systems have a barrier of entry which gives a coin value and helps in price discovery.

What exactly do you mean by "Only the rich people benefit of it."? Maybe we can clear up any doubts or misconceptions?

[ShiftConnect]

Hi, i invested the last days a bit in shift and i have a few questions.

My next question is about the roadmap. Are there any vague dates? Or even quarters or something like that? Sure i know things need time, i'm an hobby developer myself, but would be nice if you got anything.

My last point is about the wallet. You really should ensure to keep the GUI wallet working in future. No investor will take this projekt serious without it. Sure, they will probably not use it theirself, they will use online services. But it's just important to see there is one.


So i wish you the best, and i hope this project gets really big

A GUI wallet will always be a hard component of everything we do, the point now is to move to our own Phantom based solution as quickly as possible. As explained a few posts earlier, the recent decision to release an update to the network without a GUI wallet was purely driven by the overall benefits for the coin itself. After all we had the GUI out 4 days after the 2.6.1 update.

Since we just made a major breakthrough, we will talk about a development timeline internally over the next days. If we feel confident enough to give a date it will be announced in the upcoming development update for this week.

[Mokota]

The details about what happens after POW have not been in any way fixed. Usually there is no difference between POW and POS as you can argue that both systems have a barrier of entry which gives a coin value and helps in price discovery.

What exactly do you mean by "Only the rich people benefit of it."? Maybe we can clear up any doubts or misconceptions?

PoS is about betting, that you have the none manipulated file. I'm not deep into cryptocurrencys, but thats what i understood of it. So if poor people betting with their stake-wallet that they have a none manipulated file they have not much to loose. thats why on PoS only rich guys can take part of it. They have to bet that they have the not manipulated transaction file.

Sure both have a barrier of entry but PoW (especially the GPU one) is easy to enter for everyone. But for PoS you need to ensure with your wallet, that you have the non manipulated file.

I'm not 100% sure if i am right but thats what i understood of PoS. If for example only guys with 1 Shift in Wallet would ensure, they would have a too less risk. so they could manipulate the system with 1 Shift.

[slax0r]

The details about what happens after POW have not been in any way fixed. Usually there is no difference between POW and POS as you can argue that both systems have a barrier of entry which gives a coin value and helps in price discovery.

What exactly do you mean by "Only the rich people benefit of it."? Maybe we can clear up any doubts or misconceptions?

PoS is about betting, that you have the none manipulated file. I'm not deep into cryptocurrencys, but thats what i understood of it. So if poor people betting with their stake-wallet that they have a none manipulated file they have not much to loose. thats why on PoS only rich guys can take part of it. They have to bet that they have the not manipulated transaction file.

Sure both have a barrier of entry but PoW (especially the GPU one) is easy to enter for everyone. But for PoS you need to ensure with your wallet, that you have the non manipulated file.

I'm not 100% sure if i am right but thats what i understood of PoS. If for example only guys with 1 Shift in Wallet would ensure, they would have a too less risk. so they could manipulate the system with 1 Shift.

Yep thats kind of far out there.  non-manipulated files? controlling the network with only 1 Shift?  Not even sure where that is all going or coming from.

To explain PoS in easy terms...

Think of PoS as like having a savings account at a regular bank.  You have a certain amount of coin in there (your stake) and it earns interest. It makes no difference if you have a lot or a little, you still get interest.  If you help the network by keeping your wallet gui running all the time, you may make a little more interest.  "Rich" or "little" really makes no difference.  Obviously the more coins you have, the more interest you will earn, but everyone earns interest at the same interest rate and you can still mine or buy more coins to grow your stake.  Simple.

[trnpall]

What is the average wallet?

[ShiftConnect]

What is the average wallet?

If you mean the average amount of coins a wallet holds then it's hard to tell because the big majority of coins is kept on Bittrex.

[psyx80]

pool down

[ShiftConnect]

pool down

Everything fine on my end?

[psyx80]

pool down

Everything fine on my end?

ERR_CONNECTION_TIMED_OUT

miner  14:11:02|main  Getting work package...
JSON-RPC problem. Probably couldn't connect. Retrying in 1...

[psyx80]

guys and we'll look how everything grows and we fall? it is necessary to enjoy these moments and to engines in the market up, not down, to raise the value of the coin and motivate new people to join.

[ShiftConnect]

guys and we'll look how everything grows and we fall? it is necessary to enjoy these moments and to engines in the market up, not down, to raise the value of the coin and motivate new people to join.

Hey Psyx,

we are working on several things, both development and marketing, which will be announced later today.

[psyx80]

guys and we'll look how everything grows and we fall? it is necessary to enjoy these moments and to engines in the market up, not down, to raise the value of the coin and motivate new people to join.

Hey Psyx,

we are working on several things, both development and marketing, which will be announced later today.

Thank you, it pleases. I welcome your report on the work, and by the way, that with a pool?

[ExEric3]

Thank you, it pleases. I welcome your report on the work, and by the way, that with a pool?

Pool is running fine. Just updated to latest Gshift release.