Bitcoin Forum
May 22, 2018, 04:47:39 PM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: « 1 ... 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 [79] 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 ... 1717 »
  Print  
Author Topic: [PRE-ANN] Blacknet (formerly BlackCoin) | Original research | PoS | No ICO  (Read 2446290 times)
SCryptoMiners
Member
**
Offline Offline

Activity: 112
Merit: 10


View Profile
February 26, 2014, 03:36:16 PM
 #1561

In a sense it's like pyramid scheme. Not literally, but works the same way. You must be very early adopter to get lot of coins. After PoW mining is done, those that have lot of coins get much more PoS interest than those that have less coins. Early adopters get more coins, more interest. It's only fair to those that are in the game very early. The whole consept is flawed. You can of course try to buy yourself in, but why bother?

It's like any other new coin where the difficulty sky rocketed shortly after it's launch.

The early miners took a chance on a new coin, and they will be rewarded if they are patient. They risked their mining hours on a new coin that nobody knew what the future would hold. They deserve to be rewarded for that.

Miners who jump in after a coin is proven to be valuable and exchangeable for BTC, will not make out as well as the early adopters as the risk is much lower now that the coin is selling at a BTC value. If the coin ended up being worthless, the early adopters would have wasted their hashing power and lost money. Try to look at it from this point of view.

Also, to what I highlighted in red above, the rates at which this coin is selling in large amounts is very low at the moment, imo. There are a large amount of miners who treat mining any coins purely as a business. They set what they expect their profit to be and that's where they sell their coins. They don't look further into the future than more than a few hours for the most part (that's not their business model).

That is the only reason these coins are still selling very cheap.

This coin is meant to be a POS coin, not POW. This is only the initial distribution, remember that. When POW stops, things will get very interesting.

My prediction is that we'll see a minimum of 5000 satoshis per coin in the days / weeks ahead.

Scryptominers, you're the best. This is why I always mine with you guys. No nonsense, no bullshit. Thank you!

Thank you for your kind words Cool

Join a reliable mining pool: POT | WC (Whitecoin) | DUCK
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1527007659
Hero Member
*
Offline Offline

Posts: 1527007659

View Profile Personal Message (Offline)

Ignore
1527007659
Reply with quote  #2

1527007659
Report to moderator
Chiggins
Full Member
***
Offline Offline

Activity: 191
Merit: 100



View Profile
February 26, 2014, 03:38:25 PM
 #1562

@scryptominers - Something up? Payouts look like they stopped for a little bit (can't tell how long).

Needed to clear up an error before payouts would resume, all back to normal now Smiley

Ahh I see, back up. Thanks for the update. You guys are great, glad I hopped into this pool to begin with.


Just wish I had more hash power to contribute, but oh wells.

vlight
Hero Member
*****
Offline Offline

Activity: 650
Merit: 500


View Profile
February 26, 2014, 03:38:37 PM
 #1563

How many total BC coins there will be, and how many is already mined?

And when it is fully mined the yearly inflation is 1% with PoS?

Thanks.
flounderella
Sr. Member
****
Offline Offline

Activity: 322
Merit: 250

Bitcoin Evengelist


View Profile
February 26, 2014, 03:40:27 PM
 #1564

No premine. Well, count me in Smiley
Rooting for you...
maccd123
Full Member
***
Offline Offline

Activity: 204
Merit: 100


View Profile
February 26, 2014, 03:40:33 PM
 #1565

i think the coin have forked on greekpool
the dev should take a closer look

Why you think so?
Probably has 9 Kh/s mining it.
BitcoinStacker
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 26, 2014, 03:41:00 PM
 #1566

I think this coin will hit 10k/20k Sat each next week ,what do you guys think?

Donate if I helped you BTC: 1GF3X5rkLZEYX6GkTrJzhEC6DkKgUVwNce
lonely@thetop
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
February 26, 2014, 03:41:22 PM
 #1567

SCryptoMiners,

Just wanted to thank you guys for setting up a fair and reliable pool from the very beginning. Many times a new coin is riddled with scam pools or pools with incompetent devs that can't keep their servers up. Been with you 4 minutes since coin launch and 0 problems. If this coin makes it big it will be in a big part because of you.
Miner232432
Full Member
***
Offline Offline

Activity: 210
Merit: 100


View Profile
February 26, 2014, 03:41:55 PM
 #1568

How many total BC coins there will be, and how many is already mined?

And when it is fully mined the yearly inflation is 1% with PoS?

Thanks.

10,000 blocks

10,000 coin per block

So 100,000,000 coins

Roughly around 30 to 40% mined (go see blockchain info to find real number and just multiply it by 10,000)

I am blunt, don't like it ? Too bad
maccd123
Full Member
***
Offline Offline

Activity: 204
Merit: 100


View Profile
February 26, 2014, 03:42:24 PM
 #1569

This is bs. Not only you had to begin mine this coin at day 1, but all will be mined in first week. If you are not in it very early, you don't get shit. Why would I even bother to start mining this anymore? This is not what decentralized currency is supposed to be. This is fuckin pyramid scheme. Fuckin shitcoin!
cry
davetheshrew
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
February 26, 2014, 03:42:50 PM
 #1570

diff at 114, we have now hit master level. Estimated next diff 146....level:insanity

My [POT] address PKGbqyqnVLvMoxmYq1YAm7dKAxue52LeNj
artiface
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
February 26, 2014, 03:43:56 PM
 #1571

As has been said a thousand times in this thread it is 1% nominal interest.  That 1% can be compounded as much as every 8 hours.   If you don't understand what compound interest means then go look it up.  If you don't think that will be enough POS then don't bother, leave it to the people who actually understand.  

I don't really understand it because of the randomness nature of it. Could you tell me if I have lets say 0.1% of the total coins i.e. 100k BC, and the PoS begins, how many am I expected to have after 10 days? 100 days? year?

Thanks!


look, after a years you can without any big problem use simple interests of 1%.

So, 100k*(1,01)=101k,something...

No, I dont' think that's what artiface said.

uhm...even i you use compound interest, is very little more than 1% per year.

Do the math.  If you compound 1% 3 times a day you're actually getting about 120% in one month.  Again it's highly unlikely that your coins will stake every 8 hours, but even if your coins stake 1%  10 times in a year, that comes out to 10% real interest.  
yannis7777
Member
**
Offline Offline

Activity: 84
Merit: 10


View Profile
February 26, 2014, 03:45:24 PM
 #1572

33 percent mined.

DOGE: DDsZd5Ekyz95ndodQZpChpspR2PstTdNQY
sevoque
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
February 26, 2014, 03:48:15 PM
 #1573

FYI the difficulty has been over 215 at some points today with a net hash of 20ghash, wait till we are over 50 percent. And like I said, 7000 satoshi per coin is not even going to be sniffed at by serious buyers
gonzzo
Full Member
***
Offline Offline

Activity: 140
Merit: 100


View Profile
February 26, 2014, 03:50:23 PM
 #1574

@rat4

my wish for next or one of the next client updates

remember the last location for "File" / "Backup Wallet"

It is a bit annoying. All other clients i use remember the last backup location & i do a lot of backups ...
<--- paranoid Smiley 

b-raptor
Newbie
*
Offline Offline

Activity: 16
Merit: 0


View Profile
February 26, 2014, 03:51:17 PM
 #1575

As has been said a thousand times in this thread it is 1% nominal interest.  That 1% can be compounded as much as every 8 hours.   If you don't understand what compound interest means then go look it up.  If you don't think that will be enough POS then don't bother, leave it to the people who actually understand.  

I don't really understand it because of the randomness nature of it. Could you tell me if I have lets say 0.1% of the total coins i.e. 100k BC, and the PoS begins, how many am I expected to have after 10 days? 100 days? year?

Thanks!


look, after a years you can without any big problem use simple interests of 1%.

So, 100k*(1,01)=101k,something...

No, I dont' think that's what artiface said.

uhm...even i you use compound interest, is very little more than 1% per year.

Do the math.  If you compound 1% 3 times a day your actually getting about 120% in one month.  Again it's doubtful that your coins will stake every 8 hours, but even if your coins stake 1% only once every 3rd day - 10 times in a month, that comes out to 10% real interest.

For one, that would be 10% nominal interest, which is greater than 10% real interest. If the PoS is 1% nominal and its compounded every 8 hours then you would receive 1/(365*3(compounded 3 times a day))% per compound period. So that equates to about  0.00091%  interest every 8 hours.
oldmarsh
Sr. Member
****
Offline Offline

Activity: 247
Merit: 250


View Profile
February 26, 2014, 03:55:27 PM
 #1576

I have made a new logo for Blackcoin and I think that this one is much better then original one,what do you think?

Donation appreciated: BGpv3oc3WC2ByZhTj5xCWMKQEr8kUkZnjT

Looks nice, though it would be great to see some more submissions.
sevoque
Full Member
***
Offline Offline

Activity: 196
Merit: 100


View Profile
February 26, 2014, 03:55:56 PM
 #1577

I have made a new logo for Blackcoin and I think that this one is much better then original one,what do you think?

Donation appreciated: BGpv3oc3WC2ByZhTj5xCWMKQEr8kUkZnjT

+1 great job. I like this and think you are like an online brad Pitt for doing this. Very handsome. If it gets used I am happy to donate when I get infront of machine
count_cyrpto
Sr. Member
****
Offline Offline

Activity: 288
Merit: 250


View Profile
February 26, 2014, 03:56:42 PM
 #1578

Looks nice but the original is far better, imo.
SCryptoMiners
Member
**
Offline Offline

Activity: 112
Merit: 10


View Profile
February 26, 2014, 03:57:36 PM
 #1579

How many total BC coins there will be, and how many is already mined?

And when it is fully mined the yearly inflation is 1% with PoS?

Thanks.

Already mined can be seen on the block explorer (outstanding column):
http://blocks.blackcoin.pw/chain/BlackCoin

Total POW coins is 100,000,000.

But I'm not sure what the total coins will be in the end (as POS will generate additional coins).

Join a reliable mining pool: POT | WC (Whitecoin) | DUCK
hashfever
Member
**
Offline Offline

Activity: 84
Merit: 10


View Profile
February 26, 2014, 03:59:17 PM
 #1580

Anyone know how to get in touch with someone working with hashfever.com. No one answer to contact form mails Sad

prv. msg

Regrads
Pages: « 1 ... 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 [79] 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 ... 1717 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!