[NLG] The great Gulden thread

[FornaxNLG]

I have a question regarding witnessing, if I start 1 with 25 000 Gulden , can I add another amount less then 5000 to the same witness account or does it always have to be 5000 and more. Is the 5000 requirement only for new witness accounts?

The witnessaccount needs to start with at least 5000G and a minimum of 331 days OR 10kGand a period of 1 month but this you already know.

Starting with phase-4 you can extend existing accounts, both the locking period and the amount of funds in it.
Have a look in your desktopwallet: Menu > Debugscreen > Console and there type 'help extendwitnessaccount' and have a good look.

Yes, you can extend an existing account from 25000 to 25200 if you want, the new amount needs to be greater than the existing amount, increase needs not be a minmum of 5k.

[1715077198]

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[1715077198]

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[CryptoObserver]

Trolls, your not needed to keep the price down, your job here is done.

The unintended consequences of witnessing rewards and possible solutions.

I wanted to wait a week after witnessing had started to confront this issue that most PoS coins suffer from and what makes DASH successful with it's masternode rewards. Witnessing from a technical stand point is a marvel that I would agree with most trolls has gone without much recognition outside of the gulden community.  PoW2 has made Gulden the most secure block chain in crypto against a 51% attack because you need to have 70% of the total witness coins and mining power to perform one.

Where is the problem?

There is less incentive for gulden users to buy coins as they start to earn witness rewards. I have seen the same problem with coins that switch to PoS or a hybrid version of PoS and the community assumes with less dumping from miners there will be more buying pressure. This cannot be further from the truth.

The bittrex buy orders have shrunk to 4 btc at the lowest satoshi price Gulden has had in recent memory. Under normal circumstance users would be buying these prices up.

Why Dash can maintain a high value

Dash's PoW reward has decreased to 1.6 coins per block every 2.5 minutes with a growing base of users.  It's simple economics.

What will Gulden developers be forced to do before the end of the year as despair takes hold of all the users?

The gulden developers will need to ask themselves this question...

Is the amount of new daily users enough to maintain a respectable price in the future with a PoW reward of 80?

There is a few options on the table if the answer is no.

1. Introduce a PoW reward reduction at certain intervals in order for demand to match supply and eventually for demand to surpass supply. A rising price is free marketing.
2. A valuable, penetrative and ongoing marketing campaign.
3. Approach businesses to make use of the Gulden block chain.
4. All of the above.

[johnnybraveau]

10% of all Gulden are now locked in Witness accounts

[johnnybraveau]

Trolls, your not needed to keep the price down, your job here is done.

The unintended consequences of witnessing rewards and possible solutions.

I wanted to wait a week after witnessing had started to confront this issue that most PoS coins suffer from and what makes DASH successful with it's masternode rewards. Witnessing from a technical stand point is a marvel that I would agree with most trolls has gone without much recognition outside of the gulden community.  PoW2 has made Gulden the most secure block chain in crypto against a 51% attack because you need to have 70% of the total witness coins and mining power to perform one.

Where is the problem?

There is less incentive for gulden users to buy coins as they start to earn witness rewards. I have seen the same problem with coins that switch to PoS or a hybrid version of PoS and the community assumes with less dumping from miners there will be more buying pressure. This cannot be further from the truth.

The bittrex buy orders have shrunk to 4 btc at the lowest satoshi price Gulden has had in recent memory. Under normal circumstance users would be buying these prices up.

Why Dash can maintain a high value

Dash's PoW reward has decreased to 1.6 coins per block every 2.5 minutes with a growing base of users.  It's simple economics.

What will Gulden developers be forced to do before the end of the year as despair takes hold of all the users?

The gulden developers will need to ask themselves this question...

Is the amount of new daily users enough to maintain a respectable price in the future with a PoW reward of 80?

There is a few options on the table if the answer is no.

1. Introduce a PoW reward reduction at certain intervals in order for demand to match supply and eventually for demand to surpass supply. A rising price is free marketing.
2. A valuable, penetrative and ongoing marketing campaign.
3. Approach businesses to make use of the Gulden block chain.
4. All of the above.

i agree with 2 and 3, i dont have the technical knowledge to have an opinion how 1. would work out.

[TomPetty]

Trolls, your not needed to keep the price down, your job here is done.

The unintended consequences of witnessing rewards and possible solutions.

I wanted to wait a week after witnessing had started to confront this issue that most PoS coins suffer from and what makes DASH successful with it's masternode rewards. Witnessing from a technical stand point is a marvel that I would agree with most trolls has gone without much recognition outside of the gulden community.  PoW2 has made Gulden the most secure block chain in crypto against a 51% attack because you need to have 70% of the total witness coins and mining power to perform one.

Where is the problem?

There is less incentive for gulden users to buy coins as they start to earn witness rewards. I have seen the same problem with coins that switch to PoS or a hybrid version of PoS and the community assumes with less dumping from miners there will be more buying pressure. This cannot be further from the truth.

The bittrex buy orders have shrunk to 4 btc at the lowest satoshi price Gulden has had in recent memory. Under normal circumstance users would be buying these prices up.

Why Dash can maintain a high value

Dash's PoW reward has decreased to 1.6 coins per block every 2.5 minutes with a growing base of users.  It's simple economics.

What will Gulden developers be forced to do before the end of the year as despair takes hold of all the users?

The gulden developers will need to ask themselves this question...

Is the amount of new daily users enough to maintain a respectable price in the future with a PoW reward of 80?

There is a few options on the table if the answer is no.

1. Introduce a PoW reward reduction at certain intervals in order for demand to match supply and eventually for demand to surpass supply. A rising price is free marketing.
2. A valuable, penetrative and ongoing marketing campaign.
3. Approach businesses to make use of the Gulden block chain.
4. All of the above.

i agree with 2 and 3, i dont have the technical knowledge to have an opinion how 1. would work out.

Finally a post worth reading! Thanks CryptoObserver.

I believe you can't let short term trends dictate your every move, if 1% of the Netherlands wants to Witness there won't be nearly enough supply to meet that demand. Already over 10% of the supply is in witness accounts with NO marketing.

The team will need to lower the requirements for witnessing as the value of Gulden increases. 5000 to 1000 and more in the future if Europe takes to Gulden.

[metare]

I think the marketing towards the crowd shouldn't be about witnessing. With the Raspberry Pi setup and port forwarding, I see this as a feature for Investors and Nerds. If you lower the lock amount, the period time would go through the roof, which wouldn't align with running a 24/7 device for that at some point.

What marketing should rather target is the security through the combination of PoW and Witnessing. Verified transactions in 2.5 minutes which makes it comparable to credit cards and the outlook to 0 block confirmations possibility.

Of course the people in here (me too) are hyped about witnessing but I don't see that this is the selling argument for the "casuals".

[Henis]

I think the marketing towards the crowd shouldn't be about witnessing. With the Raspberry Pi setup and port forwarding, I see this as a feature for Investors and Nerds. If you lower the lock amount, the period time would go through the roof, which wouldn't align with running a 24/7 device for that at some point.

What marketing should rather target is the security through the combination of PoW and Witnessing. Verified transactions in 2.5 minutes which makes it comparable to credit cards and the outlook to 0 block confirmations possibility.

Of course the people in here (me too) are hyped about witnessing but I don't see that this is the selling argument for the "casuals".

My 25000 hasn't earned a reward yet but only have it for 6 months, might of helped if I made it a year or longer. I am going to build up to 100 000 coins and setup a 2nd witness of 75k for 2 years. I do like the investment side of witnessing.

[Luuk]

Trolls, your not needed to keep the price down, your job here is done.

The unintended consequences of witnessing rewards and possible solutions.

I wanted to wait a week after witnessing had started to confront this issue that most PoS coins suffer from and what makes DASH successful with it's masternode rewards. Witnessing from a technical stand point is a marvel that I would agree with most trolls has gone without much recognition outside of the gulden community.  PoW2 has made Gulden the most secure block chain in crypto against a 51% attack because you need to have 70% of the total witness coins and mining power to perform one.

Where is the problem?

There is less incentive for gulden users to buy coins as they start to earn witness rewards. I have seen the same problem with coins that switch to PoS or a hybrid version of PoS and the community assumes with less dumping from miners there will be more buying pressure. This cannot be further from the truth.

The bittrex buy orders have shrunk to 4 btc at the lowest satoshi price Gulden has had in recent memory. Under normal circumstance users would be buying these prices up.

Why Dash can maintain a high value

Dash's PoW reward has decreased to 1.6 coins per block every 2.5 minutes with a growing base of users.  It's simple economics.

What will Gulden developers be forced to do before the end of the year as despair takes hold of all the users?

The gulden developers will need to ask themselves this question...

Is the amount of new daily users enough to maintain a respectable price in the future with a PoW reward of 80?

There is a few options on the table if the answer is no.

1. Introduce a PoW reward reduction at certain intervals in order for demand to match supply and eventually for demand to surpass supply. A rising price is free marketing.
2. A valuable, penetrative and ongoing marketing campaign.
3. Approach businesses to make use of the Gulden block chain.
4. All of the above.

Price has dropped to 700 sat with less then 4btc buy support, looks like your analysis could be correct.

Richpissman is quiet , must be happy gulden is on it's way to the abyss, he will be back if the price recovers.

[metare]

As Rich P. pointed out multiple times he's not here to attack the price but to criticise the background of Gulden and the shady actions of hiding some informations.

Kudos to the Ghandi transition btw. Rich  

[KrustyTheClown]

As Rich P. pointed out multiple times he's not here to attack the price but to criticise the background of Gulden and the shady actions of hiding some informations.

Kudos to the Ghandi transition btw. Rich  

I am going to stop posting too unless the price returns to 1500 satoshi. Keep the price below 1500 satoshi and you don't hear from me again. This is my Ghandi promise. Bye bye kids!

[Disbelief]

As Rich P. pointed out multiple times he's not here to attack the price but to criticise the background of Gulden and the shady actions of hiding some informations.

Kudos to the Ghandi transition btw. Rich  

I am going to stop posting too unless the price returns to 1500 satoshi. Keep the price below 1500 satoshi and you don't hear from me again. This is my Ghandi promise. Bye bye kids!

I am going to stop posting after we reach -600sat, then 4000sat, so I can retire.

After reading the marketing channel today I would say -600sat for people skills is about right.

[metare]

Can you elaborate: I can't really find it out effectively since not Dutch speaking. Most of Information on Slack is hidden in plain sight to non Dutch speakers.

[RichPissman]

As Rich P. pointed out multiple times he's not here to attack the price but to criticise the background of Gulden and the shady actions of hiding some informations.

Kudos to the Ghandi transition btw. Rich  

This man gets it! Kudos back!

[Morbs]

Some news and calculations on the witness accounts.
http://guldenbites.com/2018/07/26/gulden_savings_deposit_great_success/

Late reaction but nice article again !!

I will ship you some Gulden for coffee later on  

As Rich P. pointed out multiple times he's not here to attack the price but to criticise the background of Gulden and the shady actions of hiding some informations.

Kudos to the Ghandi transition btw. Rich  

This man gets it! Kudos back!

I feel love 

[Jean.Luc]

Some news and calculations on the witness accounts.
http://guldenbites.com/2018/07/26/gulden_savings_deposit_great_success/

Late reaction but nice article again !!

I will ship you some Gulden for coffee later on  ;

That would be greatly appreciated and thanks for the praise 💙
gulden://GSMk3ALRZ8zxqkPQQ5CBBBr63UipQJGj3g

[FornaxNLG]

Paul has updated the Guldendocker repository to version 2.0.0.9, see his twittermessage:  https://twitter.com/paulwillen/status/1023143270250160128

On Github: https://github.com/paulwillen/GuldenDocker

[BigDikBTC]

I have bitcoin supporting the prices on bittrex, I will do my best to keep the coin above 650sat, but a lot of selling pressure from traders, miners and witnesses. You can all suck my dick later for keeping the prices from falling to 500sat.

[BigDikBTC]

I have bitcoin supporting the prices on bittrex, I will do my best to keep the coin above 650sat, but a lot of selling pressure from traders, miners and witnesses. You can all suck my dick later for keeping the prices from falling to 500sat.

There is not even 1 full bitcoin of orders above 650sat. The highest single order I see is around 37k NLG, I assume that is you. Please bring at least 5+BTC if you want anything sucked at all.

They will dump on large amounts of buy support. Keep it thin like a Ethiopian.

[Morbs]

I have bitcoin supporting the prices on bittrex, I will do my best to keep the coin above 650sat, but a lot of selling pressure from traders, miners and witnesses. You can all suck my dick later for keeping the prices from falling to 500sat.

I do not know about the sucking your dick part but thx for supporting   

[BigDikBTC]

I have bitcoin supporting the prices on bittrex, I will do my best to keep the coin above 650sat, but a lot of selling pressure from traders, miners and witnesses. You can all suck my dick later for keeping the prices from falling to 500sat.

I do not know about the sucking your dick part but thx for supporting   

Has the community thought about getting on Binance, a lot of traders on that exchange.