NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS

[presstab]

Everyone don't get too excited about 175%, we are seriously considering lowering it in order to fight inflation. We need to make sure that we put NobleCoin on the path to success not only over the next year but over the next 10+ years.  When I got into this coin a month back I didn't realize how long term oriented this coin is, and I think the PoS code should properly reflect this.

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I'm not sure if this has been discussed yet, still making my way through this thread, but what are peoples' thoughts on the number of existing coins in the supply?

It looks as though there's currently 1.5 billion coins (according to CMC). Each coin worth ~$0.000097.
High PoS (which I favour) would result in billions more coins.

It seems harder to value something highly if it's worth millicents. I'm thinking of DOGE, COMM, MINT here.

What about a reverse-split at the same time as this interest change? 100:1 reverse split for example would mean for every 10,000 coins held this would be reduced to 100 coins, with the supply shrinking by the same ratio to 15 million coins.

Ofcourse the effect here is purely psychological, nobody loses/gains anything, but it tidies up the past history of this coin (of which I know little, so I don't know if a low-value coin is something the community here would want to keep). I would love to hear some other thoughts on this.

[Hueristic]

Everyone don't get too excited about 175%, we are seriously considering lowering it in order to fight inflation. We need to make sure that we put NobleCoin on the path to success not only over the next year but over the next 10+ years.  When I got into this coin a month back I didn't realize how long term oriented this coin is, and I think the PoS code should properly reflect this.

It's nice to see no one is sticking to pre-concieved Idea's and this is being so carefully thought out.

[Coinler]

Please everyone who is wondering what is PoS, how it will work for NOBL, what should I do, is PoS a bad idea... please come to Noble Stake and either edit or ask question with comment (Insert/Comment).

"NOBL will have a 175%/750% annual interest rate. This means that if you have 10,000 NOBL, after one year you will have 17,500/75,000 NOBL."

What?

175% annually or 750% annually?

17,500/75,000 = 0.23... I don't understand those numbers...

EDIT:
I think it means it is not decided yet and can be from 175% to 750% ... ?

No numbers are in stone yet.  But currently the expectation is 175%.

such a high stake will have the same effect as asics mining. especially if theyre mining now in anticipation. my advice is to do no more than 25%-50% max per year. remember that pos coins are also vulnerable to 51% attacks via staking. even if you set a requirement to split the total amount into multiple wallets. you will still effectively have one person controllling large majority of the stake which is same as largest hashpower mining.

[presstab]

Please everyone who is wondering what is PoS, how it will work for NOBL, what should I do, is PoS a bad idea... please come to Noble Stake and either edit or ask question with comment (Insert/Comment).

"NOBL will have a 175%/750% annual interest rate. This means that if you have 10,000 NOBL, after one year you will have 17,500/75,000 NOBL."

What?

175% annually or 750% annually?

17,500/75,000 = 0.23... I don't understand those numbers...

EDIT:
I think it means it is not decided yet and can be from 175% to 750% ... ?

No numbers are in stone yet.  But currently the expectation is 175%.

such a high stake will have the same effect as asics mining. especially if theyre mining now in anticipation. my advice is to do no more than 25%-50% max per year. remember that pos coins are also vulnerable to 51% attacks via staking. even if you set a requirement to split the total amount into multiple wallets. you will still effectively have one person controllling large majority of the stake which is same as largest hashpower mining.

We are still brain storming ideas to add additional layers of security.  Obviously the max age parameter is one obvious one that is already in there.

[David Latapie]

if I understand correctly, in this case we must not forget that the coins that we get as a reward, after a while, too, will receive the award, so in this case 175% per annum of 10,000 coins will not make 27,500 coins, but much more, about 55,000 coins

Yes, this is called compounded interest.

such a high stake will have the same effect as asics mining. especially if theyre mining now in anticipation. my advice is to do no more than 25%-50% max per year. remember that pos coins are also vulnerable to 51% attacks via staking. even if you set a requirement to split the total amount into multiple wallets. you will still effectively have one person controllling large majority of the stake which is same as largest hashpower mining.

The problem with midrange-PoS (10-50) is that it doesn't protect agains pump and dumpin and panic sells. tokyoghetto: "Coin devs need to understand that 20% APR is not attractive for a long term investment, when MINT can lose/gain over 100% in one day."

BTW, 400th page

UPDATE: I moved the Noble stake document to commenting only, partly because it was a request, partly because I am not familiar with the newest Google Drive addition, the "suggest" feature, which could mitigate the reason for going comment-only. Commenting is done by selecting a text and pressing ctrl+alt+m.

[1024KB]

thanks a lot james6546... now, i understand a bit... just a bit on how crypto currency works... i'm reading, processing so as to better understand every discussion posted here. and yes, there will be always a positive and negative side... but, for our coin (NOBL), personally, what i see is, it would be more on the positive side...

again, thanks a lot for enlightening me on PoS... this is "a knowledge on a day" for me...

 

did you read the pdf by Rofo? it is very informative!

and based on the recent turn of events, completely useless, everything was gone back on by Noble. For all purposes the pdf doesn't exists

[adam1230]

thanks a lot james6546... now, i understand a bit... just a bit on how crypto currency works... i'm reading, processing so as to better understand every discussion posted here. and yes, there will be always a positive and negative side... but, for our coin (NOBL), personally, what i see is, it would be more on the positive side...

again, thanks a lot for enlightening me on PoS... this is "a knowledge on a day" for me...

 

did you read the pdf by Rofo? it is very informative!

and based on the recent turn of events, completely useless, everything was gone back on by Noble. For all purposes the pdf doesn't exists

Noble-killing Multipool operator?

[NorrisK]

400th page, steady consistent pace will win

[jvff]

Hello,

I just thought of something to add to the brainstorm of additional layers of security. Might be a bad idea, but maybe it can inspire something else?

What if each wallet could "vote" on a range of PoS return rates? Each minted/staked/forged block will result in an interest rate, but what if that rate was dynamic, set by the user on the wallet app? Then, the other nodes of the network can accept or reject the new block, given an also user configured "allowed interest range". This way, even though a user can select its interest rate, it will only be accepted if it's in the range of at least 51% of (stake weighted?) nodes.

With time, the participating users of the network can lower their ranges in order to bring down inflation.

Of course, the problem isn't actually solved, just morphed from a technical problem into a social problem. How would you convince most users to keep acceptable levels of interest?

Anything useful from the idea?

Thanks,

Janito

[Rofo]

and based on the recent turn of events, completely useless, everything was gone back on by Noble. For all purposes the pdf doesn't exists

We changed our mind, more myself than most, because of the current environment. The .PDF spoke about coin wars and survival, I didn't expect miners to give so much power to PoS multipools and we weren't expecting to have such little support in the scene as a whole.

PDF: We will be constantly working towards promoting and embracing merge-mining with other scrypt coins in the months to come. Not only will scrypt ASICs begin to secure scrypt coins, but we believe merge-mining for scrypt will begin to gain momentum. We want to promote this now, as the coins that welcome increased security, sustained hash rates and stability will be the ones taken seriously.

Myself and others still believe that so we're not going back on anything. Unfortunately we're a little ahead of our time, I don't think this will happen for more than a year. I promoted MM publicly on the DOGE reddit when LTC made the offer (it would have set a very good precedent), I thanked Lee for what he did. But the DOGE crew were not interested and too many people don't understand MM just like they don't understand PoS. We don't have time at this hash/price & in this environment to wait around for when MM security becomes more widely embraced and expected. In the meantime we were spending a lot of money on Knight & Nobility hashfarms trying to combat the multipools and 51%, but whoever is doing it can feel snide we don't currently have the resources to beat them.

PDF: That being said, anything that stands the test of time and is shown to revolutionize the security or power of alternative cryptocurrency we will definitely be taking very seriously.

Despite me being publicly resolute, we have discussed and explored PoS for months with others in IRC and privately with those more familiar. In this current environment PoS revolutionizes the power and security of NOBL, so we've taken it seriously.

So I've adapted/reconsidered my stance on MM/PoW versus PoS, as well as dealt with the communities primary concerns of ASICs/miners dumping & multipools, and still there is negativity. PoW/MM wasn't all that was in the .PDF nor was it meant to even be a key factor in what Noble was.

[1024KB]

thanks a lot james6546... now, i understand a bit... just a bit on how crypto currency works... i'm reading, processing so as to better understand every discussion posted here. and yes, there will be always a positive and negative side... but, for our coin (NOBL), personally, what i see is, it would be more on the positive side...

again, thanks a lot for enlightening me on PoS... this is "a knowledge on a day" for me...

 

did you read the pdf by Rofo? it is very informative!

and based on the recent turn of events, completely useless, everything was gone back on by Noble. For all purposes the pdf doesn't exists

Noble-killing Multipool operator?

oh yeah must be. because i don't agree with you, that must be it.

[Honeypot]

Bottom line is, coin must survive to eventually find its right niche and place.

PoS move, although difficult, is really in no ways going back on Rofo's primary theme of strengthening coin and their security.

I cannot sympathize simply cherry picking lines from rofo's writing and attempting to wrongly portray it as the whole. The ideal situation always has stepping stones in between the goal and present. We need to accept that reality, and also ask ourselves have we done enough to encourage ltc MM or greater hash power and greater security.

As a community, we cannot thumb our noses at rofo's efforts and sit on our hands while complaining about 'lack of security' or any thing else. This is a currency. If it is to be secured and advanced, it requires the participation in work and monetary efforts as well as time to bring it to its proper level in the markets down the road.

Rofo has already secured and implemented many features such as market place that are now being trumpeted by some others as 'novel' innovation. Let's not confuse forum feedback and community debate with in depth work that could also be useful in helping this coin.

[cycoinminer]

What about a reverse-split at the same time as this interest change? 100:1 reverse split for example would mean for every 10,000 coins held this would be reduced to 100 coins, with the supply shrinking by the same ratio to 15 million coins.

Ofcourse the effect here is purely psychological, nobody loses/gains anything, but it tidies up the past history of this coin (of which I know little, so I don't know if a low-value coin is something the community here would want to keep). I would love to hear some other thoughts on this.

To my mind, this isn't a bad idea.....
At the moment, the only variation in price is 1 Satoshi, so current rates, a move from 14 SAT to 15 SAT is roughly 7% rise / fall, depending on which way the price goes.
Given the opportunity to carry out the reverse split, it would essentially mean there's the opportunity for price movements of just 0.07% (at current prices)
Realistically, 0.07% is not worth trading for, but what about 1%, 2%, 3% ? They're all options trader's don't have right now due to the price as it is now.

[james6546]

Buy and Sell items/services with Noble coin now!

http://www.AltcoinAuctions.com

Looks like a nice simple site to use.

You spelt categories wrong though...

[cryptonit]

So I've adapted/reconsidered my stance on MM/PoW versus PoS, as well as dealt with the communities primary concerns of ASICs/miners dumping & multipools, and still there is negativity. PoW/MM wasn't all that was in the .PDF nor was it meant to even be a key factor in what Noble was.

in my opinion the right decision would have been MM/POW AND POS Hybrid Security

thats the direction diamond DMD goes (hybrid POW/POS already active and MM in preparation)

u have been invited multiple times to join talks about not only joining but together creating a MM/POW coin network

the offer is still there we would not talk with joke scam and coins with bad reputation

but noblecoin same as diamond have a outstanding clean image of a "good" coin
which clearly have no criminal intends and looking forward to the age of legalized crypto coins as normal part of world economy

POW and POS are not enemies they support each other perfect if implemented right

and even if POW reduced rewards for later mainly POS coin rollout stage

the mm family will always have one coin that attract POW miners with interesting mining rewards and all other coins recieve the full hashrate and POW security too

[presstab]

So I've adapted/reconsidered my stance on MM/PoW versus PoS, as well as dealt with the communities primary concerns of ASICs/miners dumping & multipools, and still there is negativity. PoW/MM wasn't all that was in the .PDF nor was it meant to even be a key factor in what Noble was.

in my opinion the right decision would have been MM/POW AND POS Hybrid Security

thats the direction diamond DMD goes (hybrid POW/POS already active and MM in preparation)

u have been invited multiple times to join talks about not only joining but together creating a MM/POW coin network

the offer is still there we would not talk with joke scam and coins with bad reputation

but noblecoin same as diamond have a outstanding clean image of a "good" coin
which clearly have no criminal intends and looking forward to the age of legalized crypto coins as normal part of world economy

POW and POS are not enemies they support each other perfect if implemented right

and even if POW reduced rewards for later mainly POS coin rollout stage

the mm family will always have one coin that attract POW miners with interesting mining rewards and all other coins recieve the full hashrate and POW security too

PoS hybrids are more prone to attack than solely PoS. My preference would be to phase into full PoS.

[Coinler]

providing my sig which seems to be doing well at marketing nobl services.

Code:

[Center][b][u][color=purple][size=12pt][url=https://bitcointalk.org/index.php?topic=402667.0/]NobleCoin - ★ 23% OFF Amazon GiftCards when you purchase with NOBL and coupon code: poolerino ★ POS is coming. ★ Get some Noble ★[/url][/b]

add it and just chat on the forums and gain attention to noblecoin developments.

[TamiLee]

You guys should approach Guldencoin - NLG. That is a great coin also trying to break out into mainstream and might consider being part of a merged mining solution or is NOBL going PoS now?

[cryptonit]

PoS hybrids are more prone to attack than solely PoS. My preference would be to phase into full PoS.

please explain the increased vulnerability u see in hybrid coins compared to pure pos coins?
if MM grant hashrate like pure POW coins even to hybrid coins i dont see the vulnerability