[ANN] ★★ EBT Coin - Entropybit 100% PoS - Multipool - Bugfix version 4.0.3! ★★

[EBT]

And I have question to devs.
I've got transactions each 10k, with POS it should bring me 1k every 90 days. But it gives me ~40 EBT for every 10000. It's not what expected.

The APR is effectively set at 5% with very little variance. To maximize your rate, you will need to have your wallet open for minting all of the time. So, a 10k input will generate about 125 every 90 days, maximum.

My math say me, that even 5% from 10000 is 500, not 125.

The APR (annual percentage rate) is capped at 5%. For 90 days, the cap is 5% * 90 / 365, or roughy 1.25%.

Remember, this is the cap. You will probably do worse on average. However, the same rules apply to everyone, so no one is getting a better maximum APR than you.

You should update the top post on this. Otherwise I was just about to dump my coins on account of too high inflation.

I think so too. It just ridiculous, that OP says wrong things. Real 5% per year interest instead 10% per 90 days, as OP says.

The OP example is now updated to reflect the real APR of 5%. It looks like whoever authored it originally simply copied an easy example from the internet and changed the units to EBT without checking the math. I hope this clears things up!

[DannyTom]

EBT is undervalued at Poloniex.  Its way cheaper to buy now than mine at the current difficulty. 

Very true.  You can buy EBT at about half the price on Poloni as EuropEX.

[danzilla]

I think this coin has a lot of potential.  Committed dev, relative scarcity, good community.  Now we just need to make the coin even more useful, by creating value.  The flea market is a good start, and as people start being able to use the coins, the value will climb.

[xminer2014]

And all this time we all thought it was 10% per 90 days

[EBT]

And all this time we all thought it was 10% per 90 days

We are having discussions about raising the rate as the block chain gets longer. Minters are transaction processors. Part of the tradeoff for fast confirmation times is an elongated chain. However, a long chain puts a burden on minters who must keep an updated chain. A 5% flat APR may not be enough compensation in the long run, especially considering that the true inflation will be much lower because it may not be worth it to regular users to keep a full chain just to mint on their "spending money".

Be aware that this topic is under careful consideration at the moment.

[addendum]

Also, bear in mind that minting will gradually outpace mining at money creation. So far, about 83% of all potential proof of work (PoW) blocks are gone. At the moment, about 1/2 the blocks are minted by proof of stake (PoS) and 1/2 are minted by PoW. Over time, block creation shifts gradually in favor of minters. It is important to realize that, whether a block is mined or minted, each new block represents one less block to be mined. In other words, there is no set number of mined blocks. Once the block chain reaches designated heights, the mining reward will be reduced until eventually at block 1,100,000 (about 381 days) the mining reward becomes 0, irregardless of the historical combination of mining and minting.

In other words, the inflation rate right now is a little more than 1/2 the nominal rate because of minting. The long term rate will most likely be somewhat less than 5% because of the burden on potential minters, most of whom will probably not bother to mint because their holdings are too low and the block chain too long. In the long run, we will work to continue to refine the reward system to minimize inflation but optimize revenues for transaction processors (minters).

[danzilla]

And all this time we all thought it was 10% per 90 days

We are having discussions about raising the rate as the block chain gets longer. Minters are transaction processors. Part of the tradeoff for fast confirmation times is an elongated chain. However, a long chain puts a burden on minters who must keep an updated chain. A 5% flat APR may not be enough compensation in the long run, especially considering that the true inflation will be much lower because it may not be worth it to regular users to keep a full chain just to mint on their "spending money".

Be aware that this topic is under careful consideration at the moment.

[addendum]

Also, bear in mind that minting will gradually outpace mining at money creation. So far, about 83% of all potential proof of work (PoW) blocks are gone. At the moment, about 1/2 the blocks are minted by proof of stake (PoS) and 1/2 are minted by PoW. Over time, block creation shifts gradually in favor of minters. It is important to realize that, whether a block is mined or minted, each new block represents one less block to be mined. In other words, there is no set number of mined blocks. Once the block chain reaches designated heights, the mining reward will be reduced until eventually at block 1,100,000 (about 381 days) the mining reward becomes 0, irregardless of how many previous blocks were mined versus being minted.

In other words, the inflation rate right now is a little more than 1/2 the nominal rate because of minting. The long term rate will most likely be somewhat less than 5% because of the burden on minters, most of whom will probably not bother to mint because their holdings are too low and the block chain too long. In the long run, we will work to continue to refine the reward system to minimize inflation but optimize revenues for transaction processors (minters).

I personally think a lower rate is better.  There is less money coming in needed to maintain the value.  POS minting is not energy intensive, and minters can receive a good reward with even a laptop, or raspberry pi or simple computer.  No special hardware needed.  I think that preserves the value of all the other coins as well.

[EBT]

We are having discussions about raising the rate as the block chain gets longer. Minters are transaction processors. Part of the tradeoff for fast confirmation times is an elongated chain. However, a long chain puts a burden on minters who must keep an updated chain. A 5% flat APR may not be enough compensation in the long run, especially considering that the true inflation will be much lower because it may not be worth it to regular users to keep a full chain just to mint on their "spending money".

I personally think a lower rate is better.  There is less money coming in needed to maintain the value.  POS minting is not energy intensive, and minters can receive a good reward with even a laptop, or raspberry pi or simple computer.  No special hardware needed.  I think that preserves the value of all the other coins as well.

Yes. However, consider that after less than 3 months, the block chain requires nearly 250 MB, with most blocks containing no transactions outside of the mining or minting transaction of the block. What memory will be required of minters after 3 years, or 10? Additionally, there is computational overhead to search the blockchain and make calculations from the data. The compensation system will take these future needs into account.

[makemebeat]

Somebody dumping more than 2M coins. Crazy shit.

[tx42]

Somebody dumping more than 2M coins. Crazy shit.

Somebody bought them already, before I had a chance.

[DannyTom]

where did they dump?  Poloni or Europex?

[hardcoreprime]

where did they dump?  Poloni or Europex?

Poloni....It didn't talk long for someone to buy them!

[danzilla]

We are having discussions about raising the rate as the block chain gets longer. Minters are transaction processors. Part of the tradeoff for fast confirmation times is an elongated chain. However, a long chain puts a burden on minters who must keep an updated chain. A 5% flat APR may not be enough compensation in the long run, especially considering that the true inflation will be much lower because it may not be worth it to regular users to keep a full chain just to mint on their "spending money".

I personally think a lower rate is better.  There is less money coming in needed to maintain the value.  POS minting is not energy intensive, and minters can receive a good reward with even a laptop, or raspberry pi or simple computer.  No special hardware needed.  I think that preserves the value of all the other coins as well.

Yes. However, consider that after less than 3 months, the block chain requires nearly 250 MB, with most blocks containing no transactions outside of the mining or minting transaction of the block. What memory will be required of minters after 3 years, or 10? Additionally, there is computational overhead to search the blockchain and make calculations from the data. The compensation system will take these future needs into account.

For sure, that's a good point, and I guess it makes sense to keep the POS rate flexible as the network and blockchain grows.  Right now, it just seems that people use the minting income to dump on exchanges, but I do see the need to reward those who keep their wallets open and secure the network.  Increasing the money supply is also important, in my opinion, as usage increases, but 5% seems about right for that.

[DannyTom]

What's the difference between EBT Coin and SNAP Coin?

https://www.youtube.com/watch?v=ZFikjD_7WsU

With EBT Coin you ca buy a Yacht..with SNAP Coin you can buy....nothing?

[k!lowatts]

awww.... miss that dump 

[Jires]

Very interested how this coin will perform seeing BlackCoin price rising fast. 

[foxya]

Very interested how this coin will perform seeing BlackCoin price rising fast. 

really???

do you think so???

[juve4v]

With EBT Coin you ca buy a Yacht..with SNAP Coin you can buy....a SNACKS ?

*fixed  

[gefflong]

What's with the huge and I do mean HUGE amount of orphans?

[Jonesd]

What's with the huge and I do mean HUGE amount of orphans?

Where?

In ebt.poolto.be it is the normal amount.

[EBT]

What's with the huge and I do mean HUGE amount of orphans?

Please give details.