PoTi

[Nikip]

Proof of Time

We shouldn’t mine for money, Proof of Stake/Credit should keep the system alive. Plus every coin has a counter that starts at e.g. 4 months and decreases when not stacked. When staked, the counter increases. When it reaches 0 it is burnt or redistributed to all online staking coins. Coins cannot be burned from a staking wallet.

Lets make background staking wallet app for all android/iphone devices so normal people can stake with not too high amount of coins required.


I hope I got the ideas out in the world.

[Anti-Cen]

Years ago coins were minted with the kings face on them and became worthless after about three years but
this stopped too much accumulation and greed from taking over but then we discovered a type of encryption
by splitting a wooden stick down the middle and it was know as a tally stick and they remained in use up to about
150 years ago.

I know that trust is a dirty word around here but "Proof" equates to trust really so hello new user and don't be put off
because we are not all of the cloth around here, it just looks that way.

[Nikip]

Tanks for the Reply!

The joke with poti was probably a bad idea and wrong since its not comparable. Sorry about that. Basically im talking about another coin management for rewarding nodes.

The basic problem is that we need some kind of distributed computing power to run our blockchain. If we hire miners we have to pay them. Staking is better energywise but wouldn’t the best scenario be where everybody can with no effort hold his coin and be rewarded for it without increasing the total number of coins. If we put a burn counter (a year for the start?) on every coin and made it very easy to avoid getting burned (increase timer unlimited by the amount staked, release just android and ios app for staking in background on smartphones in combination with cold wallet on any device). Of course, in theory everybody would stake his coin then. Or will they? And what about all the lost secret keys. All this money will be redistributed. People like a little thrill and they will think for sure they will be able to stake their money longer than others and that will be the case most times. And they will all contribute to the network with normal penalty rules for staking. Considering it can be done as battery saving as possible?