[ANN][PIVX] - PRIVATE INSTANT VERIFIED TRANSACTION - PROOF OF STAKE - ZEROCOIN

[Turing]

This is kinda fascinating.  Does anybody in this community know how many PIVX coins will exist in total supply?  Is it inflationary?  If this information is not found on the website, is it not meant to be public knowledge? 

https://bitcointalk.org/index.php?topic=1262920.msg13067779#msg13067779

[EleanorZ]

This is kinda fascinating.  Does anybody in this community know how many PIVX coins will exist in total supply?  Is it inflationary?  If this information is not found on the website, is it not meant to be public knowledge?  

It is very much public knowledge. In addition to all the info in the ANN, it's also on the main website: https://pivx.org/coin-specs/

I would also add that fees on the PIVX network are burned. Rewards for stakers/masternoders are included in each block, rather than being recycled from network fees. Thus, as traffic on the network increases, the already low inflation rate will decline further, and may even become deflationary. There have already been deflationary blocks, and, since zPiv transactions are more expensive, the trend will be toward more such blocks in the future. Thus, there is no set number for the total supply, as is standard in PoS coins, but inflation will remain low and could even stop altogether or reverse.

[q327K091]

This is kinda fascinating.  Does anybody in this community know how many PIVX coins will exist in total supply?  Is it inflationary?  If this information is not found on the website, is it not meant to be public knowledge?  

It is very much public knowledge. In addition to all the info in the ANN, it's also on the main website: https://pivx.org/coin-specs/

I would also add that fees on the PIVX network are burned. Rewards for stakers/masternoders are included in each block, rather than being recycled from network fees. Thus, as traffic on the network increases, the already low inflation rate will decline further, and may even become deflationary. There have already been deflationary blocks, and, since zPiv transactions are more expensive, the trend will be toward more such blocks in the future. Thus, there is no set number for the total supply, as is standard in PoS coins, but inflation will remain low and could even stop altogether or reverse.

one of the best write ups (short and concise) I have seen, thank you eleanor...

[EleanorZ]

Wow, developers are doing a great job at PIVX.

Now with their announcement of Zerocoin, 16 October 2017. This is huge!!

PIVX really is one of the most innovative coins with one of the fastest growing communities.

Great job?  How is this coin great if your addresses expire without warning?  So if you send coins to your wallet they are lost forever or require retrieval.  I've been waiting for the wallet to synch for days.  My miners sent PIVX to an address and I now I find out that address is labelled: 'Used'.  Do you really think PIVX has any use in the real world?  I doubt it.  How many people are going to go through the head aches of synching the poorly designed wallet?  Expiring addresses?  Over complicating things.  Genius is simplification.  Stop trying to reinvent the wheel.

Some context here would be really helpful if you're actually looking for a response/solution and not just lashing out. That said:

1. Cryptocurrency addresses don't spontaneously expire, short of the coin's blockchain ceasing to exist or someone deliberately closing the address down: https://bitcointalk.org/index.php?topic=1202855.0) PIVX is no different in this respect (e.g., I have used the same PIVX addresses on and off since February of 2016, including gaps of several months at a time, and they still work perfectly).
2. Welcome to cryptocurrency, where the vast majority of full-node desktop wallets need to sync. Not sure why you're directing your anger at PIVX. Feel free to use the mobile wallet if you'd prefer a faster/simpler option and don't need the full features of the desktop wallet. That's why there's more than one option.
3. If you've been waiting for days for your wallet to sync, you might need to check your internet/firewall settings. It usually takes a few hours, as is the case with most blockchains.
4. If you want to use the desktop wallet and don't want to wait a few hours, use a snapshot instead: http://pivx.support/snapshots

Your broader point about simplification is completely valid, but it applies to crypto as a whole. There is always more to do, but the truth is that, between its wallets and its range of support options (Discord being the primary one) PIVX is actually among the more user-friendly cryptos out there. Perhaps that is more a comment on the user-unfriendliness of crypto than it is on the user-friendliness of PIVX, but it is what it is.

[filsid]

PIVX Podcast on Future Tech Podcast




In advance of the Bitcoin, Ethereum & Blockchain Superconference in Dallas, Texas (February 16, 17 and 18, 2018), PIVX was asked to be on a podcast with Richard Jacobs of Future Tech Podcasts.  PIVX is a Platinum level sponsor of this up and coming conference, and will also be delivering a 30-minute presentation on the main-stage to the thousands of attendees. This marks the second conference PIVX will have attended in 2018 (and a third, Anarchapulco, which PIVX is a gold sponsor of) will also be attended by many Pivians.

Many thanks to Future Tech Podcast for having Snappy on this episode!
You can follow them on Facebook here, Twitter here, and subscribe to future podcasts here!

Here is the audio (and transcript) of the Podcast that Snappy (Bryan) had with Richard this past week.

https://pivx.org/pivx-podcast-on-future-tech-podcast/

[DragonETH]

This is kinda fascinating.  Does anybody in this community know how many PIVX coins will exist in total supply?  Is it inflationary?  If this information is not found on the website, is it not meant to be public knowledge?  

It is very much public knowledge. In addition to all the info in the ANN, it's also on the main website: https://pivx.org/coin-specs/

I would also add that fees on the PIVX network are burned. Rewards for stakers/masternoders are included in each block, rather than being recycled from network fees. Thus, as traffic on the network increases, the already low inflation rate will decline further, and may even become deflationary. There have already been deflationary blocks, and, since zPiv transactions are more expensive, the trend will be toward more such blocks in the future. Thus, there is no set number for the total supply, as is standard in PoS coins, but inflation will remain low and could even stop altogether or reverse.

so if in this case the master node of the future, if deflation will continue. it can reduce profitability if the increased costs.

[futurelab]

Generally, master nodes are not very appreciated with zero protocol as there's no much transparency with this. It's good they're bypassing this.

[EleanorZ]

so if in this case the master node of the future, if deflation will continue. it can reduce profitability if the increased costs.

Not sure what you mean. For every block of 5 Piv, 90% (4.5 Piv) are distributed between masternodes and stakers according to PIVX's 'see-saw' mechanism, while the remaining 10% (0.5 Piv) is allocated to the PIVX budget (development, etc.). This stays the same regardless of transaction costs. MN profitability (in terms of number of Piv generated per unit of time) would decline if many more people operated MNs, but it will not be directly/deterministically affected (again, speaking in terms of number of Piv generated per unit of time) by fluctuations in transaction cost or the precise trajectory of inflation.

If PIVX becomes deflationary, it would mean, by definition, that the network is handling A LOT of transactions. Moreover, it would mean that PIVX itself would be getting rarer, which in theory would increase the unit price, increasing profitability in terms of $$ (not number of Piv) generated per unit of time by MNs and stakers.

Generally, master nodes are not very appreciated with zero protocol as there's no much transparency with this. It's good they're bypassing this.

Masternodes are not being bypassed. Stakers are the primary block validators on a PoS network, while masternodes are 'facilitators', offering an extra layer of verification, improving transaction time, and allowing the blockchain to be downloaded faster. Masternodes will also (I believe) play a role in enabling PIVX's decentralized exchange, ZDex, which is planned for Q2 2018. Currently, masternodes hold all voting power on the PIVX network, but masternode holders previously voted to give up this privilege in favour of a more inclusive community governance model, which will be implemented sometime this year (scheduled for Q3 2018 in the roadmap).

So masternodes' main job is to improve network function, not to increase privacy--though, a MN run through Tor might indeed add some extra privacy as a bonus. The privacy side of things is taken care of by Zerocoin protocol and, once implemented, other upcoming features such as I2P, U2F, and Dandelion protocol, all of which are included on the roadmap.

[q327K091]

wish an upvote functionality existed in BT threads... yet another top level post.. big ups ....

[EleanorZ]

wish an upvote functionality existed in BT threads... yet another top level post.. big ups ....

Thanks. Definitely not trying to dominate the discussion, but I feel like the BCT thread gets neglected sometimes vs. Discord and Reddit so I've been trying to keep an eye on things when I can.

[Turing]

https://sludgefeed.com/stake-united-altcoin-staking-pool-review/

Has anyone tried Stake United for PIVX? Seems like a solid idea applying the mining pool system to staking rewards

It’s a solid idea to lose your coins.

If you don’t own the private key, you don’t own the coins.

[ANDREW 555]

PIVX Portland Meetup, USA (February 12)
https://coindar.org/en/event/pivx-pivx-pivx-portland-meetup-usa-3351

[alko89]

https://sludgefeed.com/stake-united-altcoin-staking-pool-review/

Has anyone tried Stake United for PIVX? Seems like a solid idea applying the mining pool system to staking rewards

I don't get it. Why even use a pool for staking? Its not that hard.
Also I don't get how people expect pool staking to even work.

[ANDREW 555]

Listing on a New Exchange (March)
https://coindar.org/en/event/pivx-pivx-listing-on-a-new-exchange-3721

[Apekool]

https://sludgefeed.com/stake-united-altcoin-staking-pool-review/

Has anyone tried Stake United for PIVX? Seems like a solid idea applying the mining pool system to staking rewards

I don't get it. Why even use a pool for staking? Its not that hard.
Also I don't get how people expect pool staking to even work.

Because theoretically when holding 1 PIVX in a wallet, the chance of ever getting a block reward is so small that it probably won't happen for a year / few years. According to the calculator it would take approximately 40 years.

Getting a smaller reward on short term might therefore be a more substantial form of interest (however very very little in USD). Because let's say someone is 30 years or older, the chance of dying before getting the block reward is not unimaginable. And by pooling PIVX, that person gets 0.01 USD of interest maybe, a very small amount not really worth the investment, but that always beats 0.00 USD interest.

[Apekool]

That's why you need to get into $PAC right now, when it's about to set off. It's amazingly cheap to get a decent amount of coins atm, and most people missed the introduction of it (since the old PAC is considered "dead").

[mynt_team]

Exciting coin, lots of potential!

[futurelab]

Good potential. Let's see how they market the product

[filsid]

Official PIVX Mobile Wallet - Wallet Tutorial

Hi guys, thanks for tuning in. Today we have a tutorial on how to get started with your first Official PIVX Mobile wallet. This video will walk you through the whole process of getting one as well as how to use it. In combination with what you've learned in the PIVX Basics series, this should be quite easy to do. Though if you run into any problems, please join our forum or Discord and chat with us. Both can be found at PIVX.org https://www.youtube.com/watch?v=w2uJ8xMcSdg

[B1tUnl0ck3r]

https://sludgefeed.com/stake-united-altcoin-staking-pool-review/

Has anyone tried Stake United for PIVX? Seems like a solid idea applying the mining pool system to staking rewards

I don't get it. Why even use a pool for staking? Its not that hard.
Also I don't get how people expect pool staking to even work.

Because theoretically when holding 1 PIVX in a wallet, the chance of ever getting a block reward is so small that it probably won't happen for a year / few years. According to the calculator it would take approximately 40 years.

Getting a smaller reward on short term might therefore be a more substantial form of interest (however very very little in USD). Because let's say someone is 30 years or older, the chance of dying before getting the block reward is not unimaginable. And by pooling PIVX, that person gets 0.01 USD of interest maybe, a very small amount not really worth the investment, but that always beats 0.00 USD interest.

Don't forget to use : http://www.cryptonode.co/#/currency/pivx to check estimates.

Do you know what is the smallest stake on the chain to ever get a block? I have seen below 10...

so if in this case the master node of the future, if deflation will continue. it can reduce profitability if the increased costs.

Not sure what you mean. For every block of 5 Piv, 90% (4.5 Piv) are distributed between masternodes and stakers according to PIVX's 'see-saw' mechanism, while the remaining 10% (0.5 Piv) is allocated to the PIVX budget (development, etc.). This stays the same regardless of transaction costs. MN profitability (in terms of number of Piv generated per unit of time) would decline if many more people operated MNs, but it will not be directly/deterministically affected (again, speaking in terms of number of Piv generated per unit of time) by fluctuations in transaction cost or the precise trajectory of inflation.

If PIVX becomes deflationary, it would mean, by definition, that the network is handling A LOT of transactions. Moreover, it would mean that PIVX itself would be getting rarer, which in theory would increase the unit price, increasing profitability in terms of $$ (not number of Piv) generated per unit of time by MNs and stakers.

Generally, master nodes are not very appreciated with zero protocol as there's no much transparency with this. It's good they're bypassing this.

Masternodes are not being bypassed. Stakers are the primary block validators on a PoS network, while masternodes are 'facilitators', offering an extra layer of verification, improving transaction time, and allowing the blockchain to be downloaded faster. Masternodes will also (I believe) play a role in enabling PIVX's decentralized exchange, ZDex, which is planned for Q2 2018. Currently, masternodes hold all voting power on the PIVX network, but masternode holders previously voted to give up this privilege in favour of a more inclusive community governance model, which will be implemented sometime this year (scheduled for Q3 2018 in the roadmap).

So masternodes' main job is to improve network function, not to increase privacy--though, a MN run through Tor might indeed add some extra privacy as a bonus. The privacy side of things is taken care of by Zerocoin protocol and, once implemented, other upcoming features such as I2P, U2F, and Dandelion protocol, all of which are included on the roadmap.

Dear EleanorZ,

Thank you for your excellent comment. It is refreshing to see an update posted here (and not only on discord   ). ZDex and zPIV staking...  

I think it shows points with easy misconception about pivx currency expansion and risks generally.

The first aspect is that there is no inflation for coin Stakers and MNers with PIVX (https://en.wikipedia.org/wiki/Money_supply). Now there are 55,564,386 PIVX in circulation. Of witch 21060000 are in MNs and some in staking wallets (with a reward of 2.34). The thing is that inflation is sometimes understood as an external addition of currency to the currency stock, which can be seen as currency expansion or monetary base expansion. In PIVX ecosystem it isn't like this, because only Stakers and MNers get the rewards. It means that there is no inflation for them (or loss of buying power due to currency expansion). If a Staker or MNer wants to keep a constant relative % of to total coin supply. He or she can by simply running a MN or Staking Wallet and will be able to stay relatively neutral toward the total currency stock (his % share).

That leads to the second point about risks. Staking isn't risk free. It involved serious risks, known and unknown. For example today I learn about the RCE from Bitmessage... Simply saying that anything online may be exposed to risks. Nothing will be beat cold wallet, be it paper or simply off line but in this case there will be a loss of % share of total coin supply. Simply because there will be no participation in staking or mn and so the loss of the reward.

And finally not all coins are staked or in MN, a lot are cold stored or in transfers, on exchange or offline temporary, which means that the estimates from calculators (http://www.cryptonode.co/#/currency/pivx) were easy to beat for those who are able to stay 24/7 on line.  

Official PIVX Mobile Wallet - Wallet Tutorial

Hi guys, thanks for tuning in. Today we have a tutorial on how to get started with your first Official PIVX Mobile wallet. This video will walk you through the whole process of getting one as well as how to use it. In combination with what you've learned in the PIVX Basics series, this should be quite easy to do. Though if you run into any problems, please join our forum or Discord and chat with us. Both can be found at PIVX.org https://www.youtube.com/watch?v=w2uJ8xMcSdg

I can't wait for the iOS wallet... I waiting for it since so long...

Stay Purple! Keep staking and MNing .

PS AND HAPPY 1 000 000 BLOCKS (old but still great Milestone)!