[ANN] Ħ [HODL] No Staking, 1% Standard Interest per Day, 750% APR For HOdlers

[Kostolany, Jr.]

Then again, I think quite the opposite. This coin is been pushed down with miners who just flood the market. If we want price and market cap go up this flooding has to stop.
The 1 year lock does that plus it doesn't cup miners reward. They just need to hodl 

I personally think all this voting and changing  is going to drive ppl away .

to be honest, I am one  and I am sure there many other

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[FreeTrade]

Okay - we're nearly there - 5 million required for threshold validity.

https://nutocracy.herokuapp.com/arguments/that-block-rewards-should-remain-unchanged-in-amount-but-required-to-be-hodled-for-a-period-of-1-year-https-www-reddit-com-r-hodl-comments-4qpx9g

I've been working on the code required today and am testing it at the moment. Should be able to put this into effect with some rapidity.

Look like you are going to push this either way , so does it really matter if we vote or not

why even have the vote ?  " the community wanted this ?  what is to say that you own all those addresses and Hodl

No, that's why I'm rounding up votes - nearly there folks, just need 300,000 or so votes to reach the 10% threshold.

The point of Nutocracy is to return more power and control to HOdlers, and away from devs/miners. It is a way to give HOdlers a way to give permission or withold permission for changes to the coin. It's a bit loose at the moment, but I think we'll work out more formal procedures over time. I don't think we'd want to vote on every detail - but it is a way to give a legitimate mandate for larger changes, and a way for HOdlers to step up and prevent smaller changes they might not be happy with. And, of course, participation is optional.

[joblo]

This coin is been pushed down with miners who just flood the market.

Miners are evil, they just dump on the exchanges and push the price down which will
kill the coin. That pretty much sums up the entire argument, yet no analysis of the available
data to support these claims.

Two thirds of all mined coins are locked up and unavailable for trade, something that no other coin does,
yet HOdl supply is too large. HOdl pays a hyperinflationary interest rate, something that no other coin does,
yet a price drop threatens the survival of the coin.

I've been wasting my time here, the decision was a foregone conclusion.

[FreeTrade]

https://nutocracy.herokuapp.com/arguments/that-block-rewards-should-remain-unchanged-in-amount-but-required-to-be-hodled-for-a-period-of-1-year-https-www-reddit-com-r-hodl-comments-4qpx9g

OK. The HODL votes for this motion have now reached the threshold of more than 10% of outstanding HOdled coins and the HOdl's have more votes than the 'Do Not HOdl's'. This motion is therefore adopted. Thanks to everybody for voting. The motion remains open if people want to continue to express support or otherwise for it.

I've been working on code and testing it today in anticipation and will check in code for this very shortly.

[bspus]

Have you considered the implications and perhaps a strategy in the event mining is reduced practically to a halt?
Its a very real possibility as soon as people realize they ain't getting anything for a year.

The crypto world is too fast and instant gratification is what miners mostly want.

In any case if you do implement this, mining through pools will become quite troublesome but I hope at least some solo miners will remain.
Instead of 50 HODL every 154 seconds we will have thousands (can't be bothered for the exact number) every 154 seconds next year.
By then the price will be in single digit sat.

In the spirit of full disclosure, I voted yes because the cynic in me thinks it might help in the short term, but in the long term hyperinflation will kill the coin.
I don't plan to keep on mining and I will probably get out of HODL before it gets too ugly.

[FreeTrade]

Fork At Block 86000

There is a fork at block 86000 in accordance with the Nutocracy motion -
https://nutocracy.herokuapp.com/arguments/that-block-rewards-should-remain-unchanged-in-amount-but-required-to-be-hodled-for-a-period-of-1-year-https-www-reddit-com-r-hodl-comments-4qpx9g

From block 86000, miners will be required to HODL the block reward for a period of 1 year to create a valid block.
In anticipation of a reduced hashrate, the diff will be set to a fixed lower rate for blocks 86000 to 86025 and from there will adjust to the new hashing power of the network.

The release is being finalized, from there, new binaries will be compiled and released.

[DeCrypterManiac]

Fork At Block 86000

There is a fork at block 86000 in accordance with the Nutocracy motion -
https://nutocracy.herokuapp.com/arguments/that-block-rewards-should-remain-unchanged-in-amount-but-required-to-be-hodled-for-a-period-of-1-year-https-www-reddit-com-r-hodl-comments-4qpx9g

From block 86000, miners will be required to HODL the block reward for a period of 1 year to create a valid block.
In anticipation of a reduced hashrate, the diff will be set to a fixed lower rate for blocks 86000 to 86025 and from there will adjust to the new hashing power of the network.

The release is being finalized, from there, new binaries will be compiled and released.

Hmm, I don't quite understand how this is possible ? Only pools cannot send the coins or even if I switch back to solo mining I cannot send the coins before one year goes by ?

[FreeTrade]

Have you considered the implications and perhaps a strategy in the event mining is reduced practically to a halt?
Its a very real possibility as soon as people realize they ain't getting anything for a year.

Yes, I think that is almost a certainty. See above for strategy.

The crypto world is too fast and instant gratification is what miners mostly want.

In any case if you do implement this, mining through pools will become quite troublesome but I hope at least some solo miners will remain.
Instead of 50 HODL every 154 seconds we will have thousands (can't be bothered for the exact number) every 154 seconds next year.
By then the price will be in single digit sat.

Yes, I think we're trading network hash rate for more hodling - I think that's a good trade because our network hash rate is much higher than it needs to be for adequate security of our blockchain.
I agree, I think the pools are going to dry up - and we'll loose all those instant gratification miners. I think that's a good thing.

[samsmith16]

Have you considered the implications and perhaps a strategy in the event mining is reduced practically to a halt?
Its a very real possibility as soon as people realize they ain't getting anything for a year.

Yes, I think that is almost a certainty. See above for strategy.

The crypto world is too fast and instant gratification is what miners mostly want.

In any case if you do implement this, mining through pools will become quite troublesome but I hope at least some solo miners will remain.
Instead of 50 HODL every 154 seconds we will have thousands (can't be bothered for the exact number) every 154 seconds next year.
By then the price will be in single digit sat.

Yes, I think we're trading network hash rate for more hodling - I think that's a good trade because our network hash rate is much higher than it needs to be for adequate security of our blockchain.
I agree, I think the pools are going to dry up - and we'll loose all those instant gratification miners. I think that's a good thing.

http://hodlcoin.github.io (Simply plug 50 Ħ in here)
~912 Ħ at time of post.. And yes it will go into your immature balance.. This is almost like my faucet idea I had a while back where the faucet will out put X amount for random deposit lengths.. Say 6mo - 1yr.. Let's not forget this coin is to attract long term thinking ppl.. If miners can't get past the fact that they are not only securing the HOdl network.. But they will now be long term HOdlers of the coin.. Well then they may not be the best candidates to secure the HOdl network.. There are a lot of coins out there to mine..

[Byte16]

Wondering if miners will refuse fork? Do you need 50+1% network hashrate for this?

[CryptoHobo]

really isn't a good idea to lock up the mining rewards for that long i understand you're trying to reduce dumping affecting the price but reduction of reward is a much better option if the funds must be locked up make it for a week or a month tops or switch to a pos system with a low static reward of 1 coin. small miners will leave if its left as a year solo mining will be the only way to go as pools will be out which leaves the network in the hands of the few or dead. 

[Enticed87]

So does that mean I should Buy or Sell ?

If I mine a Block will it take 1 year to mature after this fork ?

If so that will be a record for not busting a nut lol

[in2tactics]

I fail to see how a vote open for a little over a day is representative of the community's opinion at large. I did not even see the motion until after it was passed and I would hazard a guess that it was/is the same for many others. The speed through which this motion passed definitely gives the appearance of impropriety. I support my assertion with the fact that the software changes are already in testing phase. It seems a little too pre-planned.

[RidgyDidge]

I fail to see how a vote open for a little over a day is representative of the community's opinion at large. I did not even see the motion until after it was passed and I would hazard a guess that it was/is the same for many others. The speed through which this motion passed definitely gives the appearance of impropriety. I support my assertion with the fact that the software changes are already in testing phase. It seems a little too pre-planned.

I'm inclined to agree with you.

I never even seen this voting thing for the amount of votes that was said that had been placed...

This all sounds a bit iffy right now.

[Golftech]

at least now the coin is moving giving green sign and making this coin alive i'm not in to that voting things because im just a small trader
just happy seeing the dev again here and working for his project keep it up sir thank you for sharing.

[FreeTrade]

I fail to see how a vote open for a little over a day is representative of the community's opinion at large. I did not even see the motion until after it was passed and I would hazard a guess that it was/is the same for many others. The speed through which this motion passed definitely gives the appearance of impropriety. I support my assertion with the fact that the software changes are already in testing phase. It seems a little too pre-planned.

Ideally I think motions should have more time for discussion, and a longer voting period before any action is taking. On this occassion, I'm acting rapidly because 1. I think the coin was in a parlous state and needed rapid action 2. The motion enjoyed rapid and nearly unanimous support of voting HOdlers 3. Markets reacted well to the motion 4. The motion acted to replace a much more controversial motion of large cuts to the block reward.

However if you think i've acted improperly, you're free to file a motion of censure, or of no confidence, or a motion to reverse this change.
 

[RidgyDidge]

I fail to see how a vote open for a little over a day is representative of the community's opinion at large. I did not even see the motion until after it was passed and I would hazard a guess that it was/is the same for many others. The speed through which this motion passed definitely gives the appearance of impropriety. I support my assertion with the fact that the software changes are already in testing phase. It seems a little too pre-planned.

Ideally I think motions should have more time for discussion, and a longer voting period before any action is taking. On this occassion, I'm acting rapidly because 1. I think the coin was in a parlous state and needed rapid action 2. The motion enjoyed rapid and nearly unanimous support of voting HOdlers 3. Markets reacted well to the motion 4. The motion acted to replace a much more controversial motion of large cuts to the block reward.

However if you think i've acted improperly, you're free to file a motion of censure, or of no confidence, or a motion to reverse this change.
 

Damn this feels like Politics all over again & I just Voted...

My vote counts and that is all that matters !

[Kostolany, Jr.]

 - Voting has been going on for more then 2 days now
 - Based on reading this thread there is many opponents
 - Yet only 90299 coin (in 2 adresses) are voting "no"

How come?

You know what they say: "Put your hodlings where your mouth is"

I fail to see how a vote open for a little over a day is representative of the community's opinion at large. I did not even see the motion until after it was passed and I would hazard a guess that it was/is the same for many others. The speed through which this motion passed definitely gives the appearance of impropriety. I support my assertion with the fact that the software changes are already in testing phase. It seems a little too pre-planned.

Ideally I think motions should have more time for discussion, and a longer voting period before any action is taking. On this occassion, I'm acting rapidly because 1. I think the coin was in a parlous state and needed rapid action 2. The motion enjoyed rapid and nearly unanimous support of voting HOdlers 3. Markets reacted well to the motion 4. The motion acted to replace a much more controversial motion of large cuts to the block reward.

However if you think i've acted improperly, you're free to file a motion of censure, or of no confidence, or a motion to reverse this change.
 

[DeCrypterManiac]

- Voting has been going on for more then 2 days now
 - Based on reading this thread there is many opponents
 - Yet only 90299 coin (in 2 adresses) are voting "no"

How come?

You know what they say: "Put your hodlings where your mouth is"

I fail to see how a vote open for a little over a day is representative of the community's opinion at large. I did not even see the motion until after it was passed and I would hazard a guess that it was/is the same for many others. The speed through which this motion passed definitely gives the appearance of impropriety. I support my assertion with the fact that the software changes are already in testing phase. It seems a little too pre-planned.

Ideally I think motions should have more time for discussion, and a longer voting period before any action is taking. On this occassion, I'm acting rapidly because 1. I think the coin was in a parlous state and needed rapid action 2. The motion enjoyed rapid and nearly unanimous support of voting HOdlers 3. Markets reacted well to the motion 4. The motion acted to replace a much more controversial motion of large cuts to the block reward.

However if you think i've acted improperly, you're free to file a motion of censure, or of no confidence, or a motion to reverse this change.
 

I asked before how to vote and what this change means but got no answer, i'm also against the change, how can I vote against it ?

Poll here:

https://bitcointalk.org/index.php?topic=1535720.0

[FreeTrade]

- Voting has been going on for more then 2 days now
 - Based on reading this thread there is many opponents
 - Yet only 90299 coin (in 2 adresses) are voting "no"

How come?

You know what they say: "Put your hodlings where your mouth is"

I fail to see how a vote open for a little over a day is representative of the community's opinion at large. I did not even see the motion until after it was passed and I would hazard a guess that it was/is the same for many others. The speed through which this motion passed definitely gives the appearance of impropriety. I support my assertion with the fact that the software changes are already in testing phase. It seems a little too pre-planned.

Ideally I think motions should have more time for discussion, and a longer voting period before any action is taking. On this occassion, I'm acting rapidly because 1. I think the coin was in a parlous state and needed rapid action 2. The motion enjoyed rapid and nearly unanimous support of voting HOdlers 3. Markets reacted well to the motion 4. The motion acted to replace a much more controversial motion of large cuts to the block reward.

However if you think i've acted improperly, you're free to file a motion of censure, or of no confidence, or a motion to reverse this change.
 

I asked before how to vote and what this change means but got no answer, i'm also against the change, how can I vote against it ?

More details here -
https://bitcointalk.org/index.php?topic=1317918.msg15332471#msg15332471

We should have new version 2 binaries soon that support the proper signatures, and I think we'll look at adding a new section to the website with clearer details.