[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[publicjud]

Iconic "pump", just no.

I know your excited but no.

http://poll.pollcode.com/44677639

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[superplus]

Sorry, I am misunderstanding you or you me.

1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.

When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.

It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened.

As for 'where do the transfer fees go', good question, I forgot to look into that ...

I think I have it. On the last page you said:

"No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."

So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%).

So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right?

Can anybody clearify this?

I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking.
If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining??
So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block.,

This should be cleared up asap, it is the basis of rewarding people and not enough people understand it.

I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model.

So you think you get the 1% for running your client 24/7/365  (compounding up to 1.005% over the year)  and the fees in a block? Do you have any links for the second part?

No, your interest is compounded because you keep your wallet open permanently. You gain 1% regardless.

The transaction fees, I would expect, are also paid to those who are staking ( there are no miners ), so this, plus the compounding of interest, is your incentive. Haven't found proof of this yet, but am in the middle of work, haven't looked far ;]

Cant compound After each block.. We would habe already doubled the total supply then.

[jc12345]

Bad idea. Prices are best to be left to natural fluctuations and market conditions. Every action has a reaction and everything should be in balance. Artificial things like this suggestion will have a certain effect, but because it is artificial it will not be supported by fundamentals and therefore not be sustainable with an unpredictable reaction. it is in anyways not a good idea in war to publicise that you will be sending in your cavalry at a certain point and time. The "enemy" can therefore prepare, plan a counter offensive and before you know it your cavalry has been defeated and you are left exposed. Let the price take its course, it will get there eventually naturally but supported by fundamentals and not by artificial meddling. Be patient.

[mrbenjie]

Let the blackcoin community vote for this black whale pump idea.

Bad idea:
1. mrbenjie
2. germsite
3.zackgeno96
4. mrdennis86 (but i think the experts have more information then us because everbody can read this??   create very big buy walls is better in mine opinion...)





Good idea:
1. troiste
2.

[Daedelus]

Sorry, I am misunderstanding you or you me.

1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.

When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.

It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened.

As for 'where do the transfer fees go', good question, I forgot to look into that ...

I think I have it. On the last page you said:

"No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."

So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%).

So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right?

Can anybody clearify this?

I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking.
If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining??
So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block.,

This should be cleared up asap, it is the basis of rewarding people and not enough people understand it.

I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model.

So you think you get the 1% for running your client 24/7/365  (compounding up to 1.005% over the year)  and the fees in a block? Do you have any links for the second part?

No, your interest is compounded because you keep your wallet open permanently. You gain 1% regardless.

The transaction fees, I would expect, are also paid to those who are staking ( there are no miners ), so this, plus the compounding of interest, is your incentive. Haven't found proof of this yet, but am in the middle of work, haven't looked far ;]

Regardless of what?

[Seio1]

I would not be surprised, if some of those whales we want to fight with this pump, would actually help it to happen. Making us belive that smashed sell walls and rising price is solely by our (small fishes) effort. Hype rises, and then BAM!!! Fishes are fried...

[troiste]

I would not be surprised, if some of those whales we want to fight with this pump, would actually help it to happen. Making us belive that smashed sell walls and rising price is solely by our (small fishes) effort. Hype rises, and then BAM!!! Fishes are fried...

You think people who write here are not whales also?

[MuffinMaster]

iconic, you're naive to think this kind of blatant mass market manipulation will help blackcoin and/or improve its image.

It won't work, and while I don't think you could harm blackcoin, its not great for your reputation.

if you were trading normal stocks, I'm sure this would be illegal.

[vizique]

OK Let me make this a LOT CLEARER!!

If you persue this course of action there are many that will drop out. Hell even I will consider it and I have a deep vested interest in ths coin.

Stop this rubbish and stop this idea NOW!

You have NO IDEA of the spectacular damage you will do to the brand and the business.

[publicjud]

Iconic "pump", just no.

I know your excited but no.

http://poll.pollcode.com/44677639

[MuffinMaster]

OK Let me make this a LOT CLEARER!!

If you persue this course of action there are many that will drop out. Hell even I will consider it and I have a deep vested interest in ths coin.

Stop this rubbish and stop this idea NOW!

You have NO IDEA of the spectacular damage you will do to the brand and the business.

I don't think iconic could harm blackcoin. but it doesn't help.

[vizique]

Iconic, to date your efforts have been...

Loud, noisy, good, bad, hard to understand and well played.

This however, stands as potentially your biggest mistake and I would rather see you put your immense efforts into something more constructive.

Dont lose the good faith of those that have learned to support you, you will never get it back of that I am absolutely positive

[Daedelus]

Sorry, I am misunderstanding you or you me.

1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.

When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.

It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened.

As for 'where do the transfer fees go', good question, I forgot to look into that ...

I think I have it. On the last page you said:

"No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."

So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%).

So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right?

Can anybody clearify this?

I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking.
If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining??
So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block.,

This should be cleared up asap, it is the basis of rewarding people and not enough people understand it.

I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model.

So you think you get the 1% for running your client 24/7/365  (compounding up to 1.005% over the year)  and the fees in a block? Do you have any links for the second part?

No, your interest is compounded because you keep your wallet open permanently. You gain 1% regardless.

The transaction fees, I would expect, are also paid to those who are staking ( there are no miners ), so this, plus the compounding of interest, is your incentive. Haven't found proof of this yet, but am in the middle of work, haven't looked far ;]

Cant compound After each block.. We would habe already doubled the total supply then.

From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).

Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake

Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.

[troiste]

OK Let me make this a LOT CLEARER!!

If you persue this course of action there are many that will drop out. Hell even I will consider it and I have a deep vested interest in ths coin.

Stop this rubbish and stop this idea NOW!

You have NO IDEA of the spectacular damage you will do to the brand and the business.

I don't see whats the problem to be honest with you

[jc12345]

I would not be surprised, if some of those whales we want to fight with this pump, would actually help it to happen. Making us belive that smashed sell walls and rising price is solely by our (small fishes) effort. Hype rises, and then BAM!!! Fishes are fried...

Agreed, rather keep the price in the band with a slight upwards trend. Keep the upper and lower support to maintain a consistent price with natural fluctuations between the upper and lower support levels. We will get there, even if it is in a year's time. Remember that consistency is the key to new investment and fresh capital.

[MaxOnBit]

IconicExpert

Do not listen to them. Those who say it is a bad idea just did not buy Black when it was cheap So now they are afraid that BC will become even more expensive and they will never buy it cheaper

[matek]

no for pump!!

[vizique]

OK Let me make this a LOT CLEARER!!

If you persue this course of action there are many that will drop out. Hell even I will consider it and I have a deep vested interest in ths coin.

Stop this rubbish and stop this idea NOW!

You have NO IDEA of the spectacular damage you will do to the brand and the business.

I don't think iconic could harm blackcoin. but it doesn't help.

Its brand issue to me. And I see this as a damaging event should it be allowed to occur. Maybe not brand killer byut why set us back so far when so much good has been done

[Subtuppel]

I alo think the community pump is a bad idea.
However, we can still talk about it for 2 more days and then call it off, price is already rising on the exchanges with everybody getting cheap coins they expect to sell off in 2 days LOL

[publicjud]

Iconic "pump", just no.

I know your excited but no.

http://poll.pollcode.com/44677639