Dev will claim he is still working on coin, but is stuck on 56k dail-up internet when it comes to updates or news.
Its sad because this coin is on both cryptsy and mintpal, which it doesn't deserve.
Someone fork this coin, make it 100% PoS, slap on 50% interest a year using NVCS, and inject some life into it.
Also, the dev can lick my left nut, you had your chance and you blew it, BIG TIME.
I don't understand this PoS fad. Is this same as Apple fad? Cause PoS does not give a single advantage except to large holders that too when inflation is too high.
everyone earns the same amount of interest, regardless of the amount of coins held. Also using NVCS would lower interest rate as more people stake coins. So inflation doesn't run high for too long. Also what is high inflation when it comes to cryptos? Don't compare cryptos to fiat or gov bonds...its magical internet money so high interest protects investors, big or small.
PoS also has smaller carbon footprint. Can be mined from a laptop. Increases volatility.
So naturally bigger holders would earn more, but they also take on more risk.
Check
this out.
The big holders earn a higher amount. The interest rate is constant regardless of the no. of people mining (see above link, it explains how PoS works). As of low interest rate --
you need to run a full node in order for the wallet to mine blocks based on PoS and it should be up always; how many people will do that? (especially when the interest rate is low)? When these coins will be made popular, 90% people will run light weight wallets giving power to the hands of these 10% (PoS difficulty will be low in this case cause the no. of people mining is less). Yes it is true, like with PoW the distribution of mining power will shift towards more professional miners who'll hold large amount of coins, but if the interest rate is low, they rather sell their coins to invest in real world schemes which provides more profits than this crypto, as an advantage they'll have lower risk cause the crypto market is very volatile.
And if the interest rate is high --
It encourages holding the coins as investment, avoiding it's circulation, i.e. true use as a cryptocurrency. Then worst -- PoS looks at the coin age; the longer you're holding a large amount of cryptocurrency, the higher the chance of mining a block, which further reduces chance of circulation. However if the profits proof of stake is giving you is negligible, then we may nullify this disadvantage.
High inflation means each year the coins you hold will reduce value by 10 or 20 or 30% etc... do you want that?
