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Author Topic: NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS  (Read 1010907 times)
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January 26, 2015, 09:01:40 PM
 #9561

GL to all you original guys, I can't watch this anymore. Sad

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January 26, 2015, 09:07:49 PM
Last edit: January 26, 2015, 09:22:08 PM by eagleflies
 #9562

Update 2015-01-26
We have been performing tests with james6546 of various PoS parameters recently and I have come to conclusion it makes sense for Noble to reach middle ground between "standard PoS" and "Magi Coin's PoS". The idea is to overcome some deficiencies present in standard PoS while trying to minimize risk of running too much fresh code.

...

- We will use code from Magi Coin which provides an incentive for big holders to split huge transactions into several smaller ones. This allows them to generate same interest rate as everyone else (so no penalty) and also ensures network is efficiently secured.

Hi eagleflies, thanks for the update. Wondered: are we saying the PoS-II, regarding the above point? I will do whatever NOBL core team / community tells me Tongue, but seems like some clarifications are needed.

You guys still discussing pos? Is anyone into action?

Real action is on. To boost the process toward PoS, I think better to do both general version PoS and PoS-II version (from my point of view) to make things settled quickly, and community test both (particular PoS-II test is needed in order to confirm the stability of the PoS-II modification as team pointed out). From NOBL community of view, simply go with the one you decided, though I can provide opinions, Tongue but that's none significant.

Joe,

we had a poll regarding PoS / PoS-II before. Take a look and check people's opinions. 80-90% of people was in favor of Magi Coin's codebase.

I do not want to go into this again Wink If we are going to start discussion from scratch every 7 days we are never going to finish.

After spending some time testing Magi Coin's PoS I think it makes sense for Noble to cherry-pick some things from Magi Coin and keep few things from standard PoS. This way Noblecoin will not be just a clone.

Could you provide an estimate when you will be able to deliver the code with modifications we agreed over IRC, please?

The plan is you make the modifications, then wallet is tested gathering as many people as possible. We look into any problems exchange opinions and after all this decide if we want to use Magi Coin's codebase or if we want to start testing standard PoS.
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January 26, 2015, 09:11:50 PM
 #9563

what my wonder was, is if it penalizes you for having a huge wallet staked, what would stop you from making dozens of wallets and staking them all with smaller increments ? and if this was possible would it not help to at least appear to be more stable and safe to everyone else since no one would automatically know how many wallets one person was in possession of? meanwhile a person who heavily invested in noble would still be fine with making profit off staking.

nothing. but this way you would be strenghtening the network.

anyway, no need to do this since you only need to divide large transactions into several smaller ones. all of them can sit on the same wallet.

Hi Eagleflies.  Cool

Just to clarify; are you saying that, for a large NOBL holder, the entire 'bag' can be kept in one wallet on one PC/laptop, so long as the total amount is 'split' between a number of different addresses generated by the staker?

And, if this is indeed the case, what amount qualifies as a 'large' bag?  And what is the recommended upper limit of NOBL per address?   Huh

I confirm you can keep all the coins in a single wallet - this is a feature from Magi Coin's PoS which we want to cherry-pick.

What matters is amount of coins in a transaction. I cannot confirm the specific numbers yet but this will be announced just before the tests commence so you will have plenty of time to split any bigger transactions into several smaller ones.
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January 26, 2015, 09:22:01 PM
 #9564

GL to all you original guys, I can't watch this anymore. Sad

Don't lose faith!

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January 26, 2015, 09:51:10 PM
 #9565

eagleflies, check PM, let me know ASAP; it sounds a bit off what we talked. I will try to deliver this week, but also I got many things to do.


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January 26, 2015, 10:07:59 PM
Last edit: January 26, 2015, 10:59:30 PM by eagleflies
 #9566

eagleflies, check PM, let me know ASAP; it sounds a bit off what we talked. I will try to deliver this week, but also I got many things to do.

Do not worry Joe. Things are as we agreed. PM sent.

I do want to emphasize we appreciate the help you are providing. Since we will probably use Magi Coin's code base we are definitely going to give you credits for working on code and for throwing good ideas for thoughts. Sorry about phrase "cherry-picking" if you felt offended but it was not intended that way.

I hope you can deliver the remaining few changes this week. If not I will probably start working on these modifications myself.

Thanks!
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January 27, 2015, 07:33:07 AM
 #9567

Maybe too late in current plans, but why not release nobl on the nxt monetary system? That way nobl can focus on what it is good at, providing services, without the need to maintain the technical part, something nobl has lacked in.

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January 28, 2015, 03:19:32 AM
 #9568

Right now NobleCoin could fall to zero [all buy orders filled] with less than $1,000, and that is the two major exchanges combined.
It is a shame to see this happening, but I can't say it isn't justified. The coin has pretty much become developed by users [which isn't a bad thing in itself],
and has yet to deliver needed updates in almost a year now [I think thats how long it has been].

To make matters even worse; faith in Rofo is starting to be shaken:
https://bitcointalk.org/index.php?topic=841741.msg10253835#msg10253835

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January 28, 2015, 05:52:26 AM
 #9569

@eagleflies No worry, I'm ready being on the stuff and will finish it as like a promise and will get it done in any circumstance. Targeting day is Thursday, but it might depend as I have to finish one task for magi before delivering NOBL PoS. To be clear, what I am working on is

Code:
PoS-II + fixed APR (8%)

As a note, the APR thing is irrelevant to the PoS-II. There will be no middle state with "some parts from PoS-II and some from standard PoS". "providing an incentive for big holders to split huge transactions into several smaller ones" will automatically lead us to the PoS-II course (if "fixed APR" is the part from standard PoS, then I guess this might be the case you mentioned). I understood community's selection on the PoS-II, but was under the impression of your concern that magi has many code changes which could lead to stability/security situation. That's the reason of my previous post talking general PoS (that looks like completely out of the scene at that time Smiley https://bitcointalk.org/index.php?topic=402667.msg10240117#msg10240117 ) So I'd be sure that "magi's code change" is no longer your concern.

I will be working on the similar features with magi (except that constant APR will be used); will post details once done.

@other members, rest assured this is not a takeover. People in NOBL community, kindly please ask for the return of your Dev: Rofo (I also believe people in this community should help him out the situation he is facing; any donation would help? etc, etc).


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January 28, 2015, 07:26:23 AM
 #9570

@eagleflies No worry, I'm ready being on the stuff and will finish it as like a promise and will get it done in any circumstance. Targeting day is Thursday, but it might depend as I have to finish one task for magi before delivering NOBL PoS. To be clear, what I am working on is

Code:
PoS-II + fixed APR (8%)

As a note, the APR thing is irrelevant to the PoS-II. There will be no middle state with "some parts from PoS-II and some from standard PoS". "providing an incentive for big holders to split huge transactions into several smaller ones" will automatically lead us to the PoS-II course (if "fixed APR" is the part from standard PoS, then I guess this might be the case you mentioned). I understood community's selection on the PoS-II, but was under the impression of your concern that magi has many code changes which could lead to stability/security situation. That's the reason of my previous post talking general PoS (that looks like completely out of the scene at that time Smiley https://bitcointalk.org/index.php?topic=402667.msg10240117#msg10240117 ) So I'd be sure that "magi's code change" is no longer your concern.

I will be working on the similar features with magi (except that constant APR will be used); will post details once done.

@other members, rest assured this is not a takeover. People in NOBL community, kindly please ask for the return of your Dev: Rofo (I also believe people in this community should help him out the situation he is facing; any donation would help? etc, etc).

Thanks for the update and the fast timeframe!

I don't think it is a perfect time to ask Rofo back to Noble as he is also very quiet in the NOXT thread..
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January 28, 2015, 07:29:33 AM
 #9571

i know for a fact scammer @equalpumps has alot of NOBL so propably better to enter out - seems scam pnd groups tookoever this.

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January 28, 2015, 08:36:00 AM
 #9572

Maybe too late in current plans, but why not release nobl on the nxt monetary system? That way nobl can focus on what it is good at, providing services, without the need to maintain the technical part, something nobl has lacked in.

Isn't that what NOXT was about?

Right now NobleCoin could fall to zero [all buy orders filled] with less than $1,000

In terms of mining pressure, both major exchanges only have buy orders to cover a few days of 100% mining dumps, so multi-pools automatic sales would be enough in a couple weeks to clear the buy books (and Scrypt multi-pools are bleeding to death these days)

The NOXT burning reduced the monetary mass, but it's already back at the mid-september level.

There was also a mention of dividing the balances to avoid the penny-stock effect and leave the single-satoshi range, is it still on the table?

Also beyond the technical stuff, there needs to be some discussion of where to go next, and what to do with NOBL to set it apart. Might also be more motivational :-)

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January 28, 2015, 09:37:01 AM
 #9573

Maybe too late in current plans, but why not release nobl on the nxt monetary system? That way nobl can focus on what it is good at, providing services, without the need to maintain the technical part, something nobl has lacked in.

Isn't that what NOXT was about?

Right now NobleCoin could fall to zero [all buy orders filled] with less than $1,000

In terms of mining pressure, both major exchanges only have buy orders to cover a few days of 100% mining dumps, so multi-pools automatic sales would be enough in a couple weeks to clear the buy books (and Scrypt multi-pools are bleeding to death these days)

The NOXT burning reduced the monetary mass, but it's already back at the mid-september level.

There was also a mention of dividing the balances to avoid the penny-stock effect and leave the single-satoshi range, is it still on the table?

Also beyond the technical stuff, there needs to be some discussion of where to go next, and what to do with NOBL to set it apart. Might also be more motivational :-)


Sounds good to me.

So how would the dividing work, we put them on an exchange to swap for pos coins and you get 1/2 the new coins or something like that? I think that is a good idea, I think the large number of coins puts people off sometimes, plus I am tired of typing zeros!

I'm still hoping rofo comes back and gives us some direction, but if not I think we should start making a plan on where to go next.
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January 28, 2015, 09:57:14 AM
 #9574

Maybe too late in current plans, but why not release nobl on the nxt monetary system? That way nobl can focus on what it is good at, providing services, without the need to maintain the technical part, something nobl has lacked in.

Isn't that what NOXT was about?

Right now NobleCoin could fall to zero [all buy orders filled] with less than $1,000

In terms of mining pressure, both major exchanges only have buy orders to cover a few days of 100% mining dumps, so multi-pools automatic sales would be enough in a couple weeks to clear the buy books (and Scrypt multi-pools are bleeding to death these days)

The NOXT burning reduced the monetary mass, but it's already back at the mid-september level.

There was also a mention of dividing the balances to avoid the penny-stock effect and leave the single-satoshi range, is it still on the table?

Also beyond the technical stuff, there needs to be some discussion of where to go next, and what to do with NOBL to set it apart. Might also be more motivational :-)


Sounds good to me.

So how would the dividing work, we put them on an exchange to swap for pos coins and you get 1/2 the new coins or something like that? I think that is a good idea, I think the large number of coins puts people off sometimes, plus I am tired of typing zeros!

I'm still hoping rofo comes back and gives us some direction, but if not I think we should start making a plan on where to go next.

Well in theory you had everything done and you dont need the dev right? Thats a community takeover
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January 28, 2015, 10:17:52 AM
 #9575

Maybe too late in current plans, but why not release nobl on the nxt monetary system? That way nobl can focus on what it is good at, providing services, without the need to maintain the technical part, something nobl has lacked in.

Isn't that what NOXT was about?

Right now NobleCoin could fall to zero [all buy orders filled] with less than $1,000

In terms of mining pressure, both major exchanges only have buy orders to cover a few days of 100% mining dumps, so multi-pools automatic sales would be enough in a couple weeks to clear the buy books (and Scrypt multi-pools are bleeding to death these days)

The NOXT burning reduced the monetary mass, but it's already back at the mid-september level.

There was also a mention of dividing the balances to avoid the penny-stock effect and leave the single-satoshi range, is it still on the table?

Also beyond the technical stuff, there needs to be some discussion of where to go next, and what to do with NOBL to set it apart. Might also be more motivational :-)


Sounds good to me.

So how would the dividing work, we put them on an exchange to swap for pos coins and you get 1/2 the new coins or something like that? I think that is a good idea, I think the large number of coins puts people off sometimes, plus I am tired of typing zeros!

I'm still hoping rofo comes back and gives us some direction, but if not I think we should start making a plan on where to go next.

Well in theory you had everything done and you dont need the dev right? Thats a community takeover

Nah, IMO we still need someone to make decisions who has a clear vision of where noble is going after the pos transition. The best person for this is still rofo
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January 28, 2015, 10:27:44 AM
 #9576

So how would the dividing work, we put them on an exchange to swap for pos coins and you get 1/2 the new coins or something like that? I think that is a good idea, I think the large number of coins puts people off sometimes, plus I am tired of typing zeros!

Another option that was tested is to just take a snapshot of the current chain, and distribute the balances at the time of the snapshot in the new chain, possibility dividing the amounts in the process.

In practice it means you would just update your wallet, or install the new wallet & copy-paste your old "wallet.dat" to it, and your balances would be carried over. There would not be any time limit to that approach, and people that missed the transition would not be penalized (provided they backed up their current wallet.dat or private keys, they could do the switch 6 months from now)

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January 28, 2015, 12:26:29 PM
 #9577

So how would the dividing work, we put them on an exchange to swap for pos coins and you get 1/2 the new coins or something like that? I think that is a good idea, I think the large number of coins puts people off sometimes, plus I am tired of typing zeros!

Another option that was tested is to just take a snapshot of the current chain, and distribute the balances at the time of the snapshot in the new chain, possibility dividing the amounts in the process.

In practice it means you would just update your wallet, or install the new wallet & copy-paste your old "wallet.dat" to it, and your balances would be carried over. There would not be any time limit to that approach, and people that missed the transition would not be penalized (provided they backed up their current wallet.dat or private keys, they could do the switch 6 months from now)
I'd be against this.
Like with any coin theirs probably millions of NOBL that have been lost , abandoned, or accidentally destroyed. If we have a window to exchange, you get rid of all of these unusable coins, effectively lowering the total amount, and increasing the worth of each individual coin. This would also purge any unsold coins sitting on coinmarket.io, and other scammy exchanges. Last I checked coinmarket didn't even bother selling many of their altcoins. 
 
Make the window like 3 months long; thats plenty of time for anyone interested to exchange, and if you don't bother to check in on an investment at least once in three months, its on you for losing out.
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January 28, 2015, 02:53:18 PM
 #9578

GL to all you original guys, I can't watch this anymore. Sad

GL from me too.
Best!
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January 28, 2015, 05:50:06 PM
 #9579

ROFO should officially announce a team which can do tasks for him. So he has more free time and once in a week they talk together about the progress

Do you really think he's interested? To me it sounds as he is tired of attacks and complaints. I'm new to Nobl but noticed that here are some people doing nothing else than complaining, attacking, sitting on their coins and waiting for ROI. If so, I could understand his mood.
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January 28, 2015, 08:40:20 PM
 #9580

ROFO should officially announce a team which can do tasks for him. So he has more free time and once in a week they talk together about the progress

Do you really think he's interested? To me it sounds as he is tired of attacks and complaints. I'm new to Nobl but noticed that here are some people doing nothing else than complaining, attacking, sitting on their coins and waiting for ROI. If so, I could understand his mood.

I really hope so, but as more time goes by I think it's more and more unlikely...
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