omahapoker
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April 10, 2014, 04:04:31 AM |
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POS is the reason im into BC and MINT
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kysejoy
Newbie
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Activity: 36
Merit: 0
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April 10, 2014, 04:46:34 AM |
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probably a totally dumb question but if I don't ask I'll never know (and probably 100 other newbies that are too afraid to look dumb)
What happens when POS coins are held on an exchange?
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Monetizer
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April 10, 2014, 04:54:48 AM |
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probably a totally dumb question but if I don't ask I'll never know (and probably 100 other newbies that are too afraid to look dumb)
What happens when POS coins are held on an exchange?
The exchange takes the PoS generally. Usually if you believe in a coin you should have it in your wallet anyway. If the coins arent in your wallet you don't really own them, they are like IOU's
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kysejoy
Newbie
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Activity: 36
Merit: 0
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April 10, 2014, 05:00:47 AM |
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probably a totally dumb question but if I don't ask I'll never know (and probably 100 other newbies that are too afraid to look dumb)
What happens when POS coins are held on an exchange?
The exchange takes the PoS generally. Usually if you believe in a coin you should have it in your wallet anyway. If the coins arent in your wallet you don't really own them, they are like IOU's Thanks, slowly, slowly I am learning
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XBCplus
Member
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Activity: 98
Merit: 10
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April 10, 2014, 05:18:00 AM Last edit: April 10, 2014, 11:49:31 AM by XBCplus |
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Bitcoin+ is Proof of Stake
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precrime3
Member
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Activity: 84
Merit: 10
PM for journalist,typing,and data entry services.
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April 10, 2014, 11:12:07 AM |
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Why would anyone buy a nxt clone, if you could buy original? What dies it offer over first Gen?
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paardenkip
Member
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Activity: 79
Merit: 10
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April 10, 2014, 07:03:51 PM |
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POS is the future of cryptocurrency!
My top 3
1. PhilosopherStone - PHS 2. HoboNickel - HBN 3. Blackcoin - BC
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precrime3
Member
Offline
Activity: 84
Merit: 10
PM for journalist,typing,and data entry services.
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April 10, 2014, 07:04:32 PM |
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Blackmon 1% POS yearly rate? No thank you, try Tekcoin xD
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mhps
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April 16, 2014, 07:09:37 AM |
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The purpose of POS is to secure the network. POS reward is paid to secure the network by minting. High % return of POS is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return as "interest".
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solarion
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April 16, 2014, 07:18:29 AM |
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The purpose of POS is to secure the network. POS reward is paid to secure the network by minting. High % return of POS is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return as "interest". What about this? Is this paragraph also correct in your opinion? The purpose of PO W is to secure the network. PO W reward is paid to secure the network by minting. High block reward of PO W is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return.
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iopq
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April 16, 2014, 07:36:49 AM |
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The purpose of POS is to secure the network. POS reward is paid to secure the network by minting. High % return of POS is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return as "interest". What about this? Is this paragraph also correct in your opinion? The purpose of PO W is to secure the network. PO W reward is paid to secure the network by minting. High block reward of PO W is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return. yes, this is correct the problem with bitcoin is 5% inflation right now is a little bit high it doesn't offer any advantage over 2% inflation security-wise other than giving ASIC miners a higher stake in the game
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Kergekoin
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April 16, 2014, 08:46:10 AM |
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The purpose of POS is to secure the network. POS reward is paid to secure the network by minting. High % return of POS is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return as "interest". What about this? Is this paragraph also correct in your opinion? The purpose of PO W is to secure the network. PO W reward is paid to secure the network by minting. High block reward of PO W is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return. yes, this is correct the problem with bitcoin is 5% inflation right now is a little bit high it doesn't offer any advantage over 2% inflation security-wise other than giving ASIC miners a higher stake in the game If you want to use fancy words like "inflation", then better make sure that you know what it means. Heres wiki for you. http://en.wikipedia.org/wiki/Inflation
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upekha
Full Member
Offline
Activity: 183
Merit: 100
TDTPJR-P5SGXY-UU2OS6-BPTUV4-NJYQFT-6CWYZP-IA2W
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April 16, 2014, 10:30:20 AM |
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NEMs gonna be POI, holymoly!
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NEM - New Economy Movement
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griffinriz
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April 16, 2014, 11:17:42 AM |
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NHZ ,Distribution still going on.
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mhps
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April 17, 2014, 01:19:14 AM |
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The purpose of POS is to secure the network. POS reward is paid to secure the network by minting. High % return of POS is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return as "interest". What about this? Is this paragraph also correct in your opinion? The purpose of PO W is to secure the network. PO W reward is paid to secure the network by minting. High block reward of PO W is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return. That is fine, but irrelevant to this thread which is about PO S coins. POS is a way to secure the network without spending a huge amount of energy hashing. POS reward marging, after sufficient adjustment by the market, will be extremely thin because it really doesn't take a lot to secure a POS network. Any extra reward will used to lower the price of the coin, canceling out the gain. So using POS reward to get rich is not going to work. Using POS coins to store value is highly likely to work -- POS is very efficient at keep its coin network running.
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solarion
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April 17, 2014, 01:34:44 AM |
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The purpose of POS is to secure the network. POS reward is paid to secure the network by minting. High % return of POS is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return as "interest". What about this? Is this paragraph also correct in your opinion? The purpose of PO W is to secure the network. PO W reward is paid to secure the network by minting. High block reward of PO W is just a self-diluting game that puts a downward pressure on the coin's price, hence doesn't offer real return. That is fine, but irrelevant to this thread which is about PO S coins. POS is a way to secure the network without spending a huge amount of energy hashing. POS reward marging, after sufficient adjustment by the market, will be extremely thin because it really doesn't take a lot to secure a POS network. Any extra reward will used to lower the price of the coin, canceling out the gain. So using POS reward to get rich is not going to work. Using POS coins to store value is highly likely to work -- POS is very efficient at keep its coin network running. I don't know if you've noticed but all mining margins have contracted significantly recently.
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RavenWing71
Newbie
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Activity: 2
Merit: 0
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April 27, 2014, 09:42:19 AM |
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Another Proof-Of-Stake Coin -- AsiaCoin -- http://theasiacoin.com/Claims first year 100% From source code at https://github.com/AsiaCoin/AsiaCoin/blob/master/src/util.hstatic const int64 COIN = 1000000; From source code at https://github.com/AsiaCoin/AsiaCoin/blob/master/src/main.hstatic const int64 MAX_MONEY = 360000000 * COIN; // 36 mil static const int64 MAX_MINT_PROOF_OF_STAKE = 0.10 * COIN; // 10% annual interest From source code at https://github.com/AsiaCoin/AsiaCoin/blob/master/src/main.cppunsigned int nStakeMinAge = 60 * 60 * 24 * 14; // minimum age for coin age: 14d unsigned int nStakeMaxAge = 60 * 60 * 24 * 365 * 10; // stake age of full weight: 10y unsigned int nStakeTargetSpacing = 60; // 60 sec block spacing
const int YEARLY_BLOCKCOUNT = 525600; // 365 * 1440 int64 GetProofOfStakeReward(int64 nCoinAge, unsigned int nBits, unsigned int nTime, int nHeight) { int64 nRewardCoinYear; nRewardCoinYear = MAX_MINT_PROOF_OF_STAKE;
if(nHeight < YEARLY_BLOCKCOUNT) { nRewardCoinYear = 7.15 * MAX_MINT_PROOF_OF_STAKE; //due to the compounded interest } else { nRewardCoinYear = MAX_MINT_PROOF_OF_STAKE / 5; }
int64 nSubsidy = nCoinAge * nRewardCoinYear / 365; if (fDebug && GetBoolArg("-printcreation")) printf("GetProofOfStakeReward(): create=%s nCoinAge=%"PRI64d" nBits=%d\n", FormatMoney(nSubsidy).c_str(), nCoinAge, nBits);
return nSubsidy; }
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jubalix
Legendary
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Activity: 2632
Merit: 1023
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April 27, 2014, 10:11:36 AM |
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you need to include coin destruction as well eg peercoin destroys coins per transaction. This effects overall inflation and coin dynamics
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