[ANN][PHS][50% PoS] PhilosopherStone | NoPremine |10 month Dist | 1.6.4.1

[DKdance]

5 PHS withdrawal worked, but 950 PHS stucked :/

Something like this too. ^^

[1714897238]

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[1714897238]

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[1714897238]

1714897238

[DKdance]

[solarion]

Seems that Cryptsy withdrawal already working, just receive PHS sent several minutes ago.

5 PHS withdrawal worked, but 950 PHS stucked :/

same. 4 PHS test withdrawal = nearly instant. 2400 PHS withdrawal follow up = into the void. That makes more than 3200 PHS I have just floating around on the interwebz. sigh.

I'm going to pull the plug on craptsy AND phs soon, sick of all the drama. The few PoW loving idiots that mine this thing are destroying the whole coin.

[Palmdetroit]

Seems that Cryptsy withdrawal already working, just receive PHS sent several minutes ago.

5 PHS withdrawal worked, but 950 PHS stucked :/

No idea why withdrawals are working for some, last message I sent was to notify to wait for a hardfork client (no response), this was also confirmed in this thread with a response from cryptsy a day or so later that they would await a new client.

[Palmdetroit]

PHS Status Update,

PoW mining had been steadily increasing and I wanted to see where it would level off, pow difficulty has stabilized somewhat and stakes and mining are working great. Main issue right now is: getting everyone updated to current 1.5.x chain, so they can get their stakes, which can be helpful with some minor changes that need to be made with PoS only switch. We still have a good deal of old nodes, so will want to give it a few days. Weekends usually are pretty good for updating so we can set up the new client with the switch to POS only in the near future (hardfork 3-7 days after release for 1.6.x) client soon!

For now, I added a non-mandatory incremental update with the unlock for minting only feature, which has been requested a bunch of times. It really doesn't add much security , a real OS compromise would also involve a keylogger , so hopefully this will not give any false sense of security. 'Staking Only'



QT win32 Download
https://sourceforge.net/projects/philosopherstone/files/latest/download
Philosopherstone-1.5.2-win32.zip               87D7D39AF64BF5A39E8D5B8B34AE9156

Sources
https://github.com/philosopherstonecoin/philosopherstone

Fast sync Chain Download
https://sourceforge.net/projects/philosopherstone/files/PHS/OfficialChain/

thanks!

[David Latapie]

Despite being team manager of Mintcoin, I am new to very high stakes. I thought Mintcoin was crazy high with 20%, I now realise this is not the case.

So pardon my ignorance. Why would you invest in Hobonickel if TEKcoin has an even higher interest? Granted, it goes high but it can also go low. And if your goal is not to sell, why does it matter?

If I can choose with my bank, an offer at 10% interest and another at 15% and that both are equally risky (or risk-free), why would I ever consider the 10% (except fear of a scam)

Probably I misunderstand all of this, thank you to clarify.

[mxn]

Hi David, funny you post here now, few hours ago i had a look at your recent activity, in order to recommend a friend to buy some Mint, nice to see you active.

Palmdetroit gave me already an interesting answer on this topic:
https://bitcointalk.org/index.php?topic=292720.msg6174748#msg6174748

Also the price of PHS over month shows the interest of stake is neither the same inflation as we know it or interest of a classic bank, more a kind of hybrid, still hard to imagine and no consensus in all the PoS coins.

It may more personal choice right now, first i judged Mint also as too high, now i feel good with 50% (i am going to donate this interest for others anyway).

I see also Hobo did an interesting way by setting it dynamic, this one, another logarithm or a decision by the community could be the way in a long term (as far i understand palmdetroits statements, the interest can technically changed all the time?).

If you look at the current ammount of BC (75mill) and PHS (2mill), the 50% are a good solution to avoid too many coins at early project phase.

Only broader adoption over time can help us out or a genius economic mind...

[solarion]

Also the price of PHS over month shows the interest of stake is neither the same inflation as we know it or interest of a classic bank, more a kind of hybrid, still hard to imagine and no consensus in all the PoS coins.

I'd caution you not to read too much into PHS' performance over the last month or so, as there have been problems plaguing it. Cryptsy's seemingly limitless incompetence, the timebomb attack, and pools being forked have held PHS down recently.

[mxn]

I'd caution you not to read too much into PHS' performance over the last month or so,

True, i was refering more on the months before. The situation on cryptsy seems like a freeze in both directions, selling and buying. There was already a timespace where minters could selling and also in this forum nobody offers to sell too, it is bad with cryptsy, but it could be worst.
 

[solarion]

I'd caution you not to read too much into PHS' performance over the last month or so

True, i was refering more on the months before. The situation on cryptsy seems like a freeze in both directions, selling and buying. There was already a timespace where minters could selling and also in this forum nobody offers to sell too, it is bad with cryptsy, but it could be worst.

Sure, they could cryptorush, coinex, or gox everyone. In cryptsy's case I think they're just so busy expanding into new business areas they can't be bothered to maintain the areas they're already in.

[forzendiablo]

I'd caution you not to read too much into PHS' performance over the last month or so

True, i was refering more on the months before. The situation on cryptsy seems like a freeze in both directions, selling and buying. There was already a timespace where minters could selling and also in this forum nobody offers to sell too, it is bad with cryptsy, but it could be worst.

Sure, they could cryptorush, coinex, or gox everyone. In cryptsy's case I think they're just so busy expanding into new business areas they can't be bothered to maintain the areas they're already in.

yeh i droped my coisn but topic still shows up.
dont u think this coin just has too many fixes/forks/updates that none exchange can handle it?

[ofeefee]

i confirmed the cryptsy issue, 99.99 stuck, 4.99 made it through.  I'll open a ticket so they can look at it.  Horus said Mullick will need to check the PHS wallet.

[mxn]

yeh i droped my coisn but topic still shows up.
dont u think this coin just has too many fixes/forks/updates that none exchange can handle it?

In my opinion it is the opposite, coins without regularly updates are like a garden without gardener.
Updates are on a peak at PHS  and cryptsy has a low doing their work.
I am happy palm is doing so much, 1 or 2 updates where not in usual interval.


Edit: maybe open a PPA for Ubuntu and updating is more easy, i do not know if it would help exchanges, but users for sure. If someone here has experience please help, otherwise i can try to learn how to maintain packages.

[mxn]

http://img4.hostingpics.net/pics/598770mastersofalchemy.png

Nice, you listen to stoner rock?
 

[David Latapie]

Hi David, funny you post here now, few hours ago i had a look at your recent activity, in order to recommend a friend to buy some Mint, nice to see you active.

Palmdetroit gave me already an interesting answer on this topic:
https://bitcointalk.org/index.php?topic=292720.msg6174748#msg6174748

Also the price of PHS over month shows the interest of stake is neither the same inflation as we know it or interest of a classic bank, more a kind of hybrid, still hard to imagine and no consensus in all the PoS coins.

It may more personal choice right now, first i judged Mint also as too high, now i feel good with 50% (i am going to donate this interest for others anyway).

I see also Hobo did an interesting way by setting it dynamic, this one, another logarithm or a decision by the community could be the way in a long term (as far i understand palmdetroits statements, the interest can technically changed all the time?).

If you look at the current ammount of BC (75mill) and PHS (2mill), the 50% are a good solution to avoid too many coins at early project phase.

Only broader adoption over time can help us out or a genius economic mind...

Thanks for the link and thanks for your encouragement - ATM, I am busy struggling with the French administration regarding the creation of the Mintcoin Fund .

Now I understand better the idea behind MC2 (unrelated to EMC2), to have a variable interest rate - this is something hobonickel did before.

Still, I can' seen any reason to favour another coin over TEKcoin (please, don't see it as an agression, PHS holders - I am trying to understand.

[scryptographer]

Despite being team manager of Mintcoin, I am new to very high stakes. I thought Mintcoin was crazy high with 20%, I now realise this is not the case.

So pardon my ignorance. Why would you invest in Hobonickel if TEKcoin has an even higher interest? Granted, it goes high but it can also go low. And if your goal is not to sell, why does it matter?

If I can choose with my bank, an offer at 10% interest and another at 15% and that both are equally risky (or risk-free), why would I ever consider the 10% (except fear of a scam)

Probably I misunderstand all of this, thank you to clarify.

Your assumption is that all coins are equal, and will enjoy same level of adoptation and price development.
As for your bank interest rate parable, you should think of it as depositing money in 2 different countries, each with different inflation levels and economic development.
The fact that TEKcoin has such high level of interest rate means the money supply is going to keep prices down, and potentially 40% return in a month may be offset by a 50% drop in price. Also up till recently TEKcoin development was almost non-existant, that combined with massive inflation built in to the coin made me cautious to invest too much in it.

20% interest rate of MintCoin is crazy high if you compare to most high street brick-and-mortar banks, but cryptocurrency cannot be compared to the physical world, yet. 20% price corrections in a single day is not unheard of, and in that light 20%/year interest rate is not much of a hedge against price fluctuations.

PHS price has been very stable despite the recent issues, and with that in mind 50% APR is a pretty sweet deal.

Just my 2 stones.

[Frostbite72]

Any updates for those with Mac wallet?

I can't get block chain to fully sync. All my coins go into stake and just sit there, never fully confirming.

[roguishur]

nice coin

[zuepfi11]

nice coin

yep

[tokyoghetto]

Despite being team manager of Mintcoin, I am new to very high stakes. I thought Mintcoin was crazy high with 20%, I now realise this is not the case.

So pardon my ignorance. Why would you invest in Hobonickel if TEKcoin has an even higher interest? Granted, it goes high but it can also go low. And if your goal is not to sell, why does it matter?

If I can choose with my bank, an offer at 10% interest and another at 15% and that both are equally risky (or risk-free), why would I ever consider the 10% (except fear of a scam)

Probably I misunderstand all of this, thank you to clarify.

Your assumption is that all coins are equal, and will enjoy same level of adoptation and price development.
As for your bank interest rate parable, you should think of it as depositing money in 2 different countries, each with different inflation levels and economic development.
The fact that TEKcoin has such high level of interest rate means the money supply is going to keep prices down, and potentially 40% return in a month may be offset by a 50% drop in price. Also up till recently TEKcoin development was almost non-existant, that combined with massive inflation built in to the coin made me cautious to invest too much in it.

20% interest rate of MintCoin is crazy high if you compare to most high street brick-and-mortar banks, but cryptocurrency cannot be compared to the physical world, yet. 20% price corrections in a single day is not unheard of, and in that light 20%/year interest rate is not much of a hedge against price fluctuations.

PHS price has been very stable despite the recent issues, and with that in mind 50% APR is a pretty sweet deal.

Just my 2 stones.

I am glad I am not the only person who feels the same way.