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coinweaver (OP)
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March 06, 2014, 01:28:43 PM |
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Actually, you don't understand the coin at all and the value it has to economists. Your entire reply proved it.
If you trade USD/BTC you can make an extrapolation to GOLD/OIL because of USD/GOLD and USD/OIL.
The PetroDollar provides a cryptographic analogy in the P$/BTC trading pair. As the number of BTC is woefully limited even at 1 satoshi it cannot encompass the entire wealth of the oil market accurately. Mathematical extrapolations can then be drawn between the P$/BTC price and BTC/OIL and highlight potential opportunities on the oil and BTC markets.
It's an economists' anti-Wall Street win button.
Watch what happens in six months. One year. Five years when the model becomes fully operational.
Dump all of the coin you hold and watch it get sucked up.... or don't.... and you're still participating in the model within expected parameters.
Isn't that neat?
I feel that you are slightly deluding yourself, inasmuch that because you have based it on Oil, it is relative to oil. It has no relation to oil, except for that which you have placed on it. If a developer designed LEGOCOIN and made every coin based on an individual lego brick, would you be able to mine it and build the lego death star with it? No. It's not based on oil, it's based on the oil market. Whoops. please explain the difference. the price of oil is very relative to the oil market. So you are telling us that petrodollar isn't actually based on oil at all, but based on the wall street houses which trade oil? so why not call it WallStreetOilPriceDollar? or BrentCrudeDollar? I'm sorry, but I think a reality check is in order.  I'm not the one that proposed this scenario. I simply built the model. This is as it was explained by an economist that studied the design, or the best as I can render that explanation. I don't claim to fully understand the implications, myself. However I do know that it is an accurate scale model of the oil market and that is something you have yet to disprove. For instance, block 43200 is the parameter that generates the 1970's "oil crisis" which we now know was a manufactured event by OPEC to purposefully push oil prices ever skyward to the prices we see today. It is also at that point the scaled consumption model kicks in and the second phase begins, ending with the second reward halving in 2019 when the model will reach mathematical parity with the oil market in it's third phase. It doesn't matter what you or I think, really. Math is math. |
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The trust scores you see are subjective; they will change depending on who you have in your trust list. |
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raskul
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March 06, 2014, 01:40:13 PM |
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Actually, you don't understand the coin at all and the value it has to economists. Your entire reply proved it.
If you trade USD/BTC you can make an extrapolation to GOLD/OIL because of USD/GOLD and USD/OIL.
The PetroDollar provides a cryptographic analogy in the P$/BTC trading pair. As the number of BTC is woefully limited even at 1 satoshi it cannot encompass the entire wealth of the oil market accurately. Mathematical extrapolations can then be drawn between the P$/BTC price and BTC/OIL and highlight potential opportunities on the oil and BTC markets.
It's an economists' anti-Wall Street win button.
Watch what happens in six months. One year. Five years when the model becomes fully operational.
Dump all of the coin you hold and watch it get sucked up.... or don't.... and you're still participating in the model within expected parameters.
Isn't that neat?
I feel that you are slightly deluding yourself, inasmuch that because you have based it on Oil, it is relative to oil. It has no relation to oil, except for that which you have placed on it. If a developer designed LEGOCOIN and made every coin based on an individual lego brick, would you be able to mine it and build the lego death star with it? No. It's not based on oil, it's based on the oil market. Whoops. please explain the difference. the price of oil is very relative to the oil market. So you are telling us that petrodollar isn't actually based on oil at all, but based on the wall street houses which trade oil? so why not call it WallStreetOilPriceDollar? or BrentCrudeDollar? I'm sorry, but I think a reality check is in order. I'm not the one that proposed this scenario. I simply built the model. This is as it was explained by an economist that studied the design, or the best as I can render that explanation. I don't claim to fully understand the implications, myself. However I do know that it is an accurate scale model of the oil market and that is something you have yet to disprove. For instance, block 43200 is the parameter that generates the 1970's "oil crisis" which we now know was a manufactured event by OPEC to purposefully push oil prices ever skyward to the prices we see today. It is also at that point the scaled consumption model kicks in and the second phase begins, ending with the second reward halving in 2019 when the model will reach mathematical parity with the oil market in it's third phase. It doesn't matter what you or I think, really. Math is math. i'm not actually trying to disprove anything, since my post, you have been overly keen to jump to conclusions that I am trying to slate petrodollar. I can only reiterate, I think this coin has value but realistically, just because it's based on (something relative to) oil - doesn't make it of similar value. I think you have done a grand job, in the idea, the development and in the execution of the launch. I rarely even look twice at alt-coins, and I was persuaded to mine this one, dropping my bitcoin DGM earnings for a long weekend (with the need to ramp up again). Being persuaded, for me, is no mean feat! i just don't see, that because you have applied historical data to the mathematical equation of the coin, it is going to take the same path - especially when it is left in the hands of those who will be your ultimate judas. I do think yours and my opinions matter though, because aside from the mathematics of it, it will be public opinion which drives the price up or down, regardless of the mathematics applied to it. |
tips 1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
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coinweaver (OP)
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March 06, 2014, 01:48:39 PM |
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I'll tone it down a bit. BCT tends to be a troll pen. I'm always happy to have a discussion.
However... There's something I think you're still missing.
To own ONE SATOSHI of p$ is to participate in the model. It doesn't matter if you hold it, spend it, mine it, or trade it.
Yes, people will probably break and dump in the first six months to a year. Of course they will. That's the market. However... that was also the OIL market, too. That's completely predictable and expected behavior.
There are a lot of functional analogies between cryptocurrency and oil. "Mining", "refining", "moving to market costs", "other producers", "traders", "speculators".
The rest... is just math.
Everything in our modern economy is linked through trading and business. That's how Wall Street mathematical super-geniuses can create software programs that can tell what the price of a bushel of wheat is going to do when China starts buying gold. As the market of the P$/BTC can be extrapolated into a USD/OIL trading pair, the price of P$/BTC must adjust accordingly if all other mathematical parameters are scaled correctly.
That has absolutely nothing to do with who holds for how long and who sells what or who mines how much.
The price of the P$/BTC trading pair relies on everything else in the universe for it's price, not the trading volume. No matter what happens, it shall always seek parity with USD/OIL.
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atchoum6760
Legendary
 Offline
Activity: 1904
Merit: 1063
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March 06, 2014, 04:45:43 PM |
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Actually, you don't understand the coin at all and the value it has to economists. Your entire reply proved it.
If you trade USD/BTC you can make an extrapolation to GOLD/OIL because of USD/GOLD and USD/OIL.
The PetroDollar provides a cryptographic analogy in the P$/BTC trading pair. As the number of BTC is woefully limited even at 1 satoshi it cannot encompass the entire wealth of the oil market accurately. Mathematical extrapolations can then be drawn between the P$/BTC price and BTC/OIL and highlight potential opportunities on the oil and BTC markets.
It's an economists' anti-Wall Street win button.
Watch what happens in six months. One year. Five years when the model becomes fully operational.
Dump all of the coin you hold and watch it get sucked up.... or don't.... and you're still participating in the model within expected parameters.
Isn't that neat?
Good synthesis |
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raskul
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March 06, 2014, 05:59:51 PM |
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i think P$ would be best suited to a DGM pool.. anyone?
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tips 1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
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RobRoy
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March 06, 2014, 06:14:08 PM |
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koby
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March 06, 2014, 06:40:00 PM |
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If I can not make millions why people are keep creating shitcoin, I'm not judging any coin but if your coin can't make money What's the point to create Banana coins? People STOP creating coins if I can't make money!! Find I different hobby,Nerd.
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neuroMode
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March 07, 2014, 05:22:42 AM |
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Is there an IRC for P$?
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atchoum6760
Legendary
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Activity: 1904
Merit: 1063
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March 07, 2014, 09:46:14 AM |
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RobRoy
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March 07, 2014, 12:50:05 PM |
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neuroMode
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March 08, 2014, 12:48:34 AM |
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I have one question that I'm confused about because things weren't fully labeled in the main post: Are the parts I've put in bold below the BLOCK REWARDS? I underlined the block reward for the first 43200 blocks, but do the values in body below it represent the deflationary block rewards? BLOCK REWARDS
43200 blocks (150 days): 50% payout (p$61,037,314) or block reward of 1412.90078704
Year 1-5 (blocks 43201-568800): 3170769.55844155 (30.16333293)
Year 5-10 (blocks 568801-1094400): 1585384.77922077 (15.08166646)
Year 10-15 (blocks 1094401-1620000): 792692.38961038 (7.54083323)
Year 15-20 (blocks 1620001-2145600): 396346.19480510 (3.77041661)
Year 25-30 (blocks 2145601-2671200): 198173.09740250 (1.88520830)
Year 35- (blocks 2671201- ): 99086.54870120 (0.94260415)
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crackfoo
Legendary
Offline
Activity: 3444
Merit: 1126
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March 08, 2014, 12:56:02 AM |
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Thanks all you Oil tycoons! Mining up a lot of P$!  Hasher Pool: http://petro.hasher.caHappy Hashing! |
ZPOOL - the miners multipool! Support We pay 10 FLUX Parallel Assets (PA) directly to block rewards! Get paid more and faster. No PA fee's or waiting around for them, paid instantly on every block found!
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coinweaver (OP)
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March 08, 2014, 03:04:45 AM |
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I have one question that I'm confused about because things weren't fully labeled in the main post: Are the parts I've put in bold below the BLOCK REWARDS? I underlined the block reward for the first 43200 blocks, but do the values in body below it represent the deflationary block rewards? BLOCK REWARDS
43200 blocks (150 days): 50% payout (p$61,037,314) or block reward of 1412.90078704
Year 1-5 (blocks 43201-568800): 3170769.55844155 (30.16333293)
Year 5-10 (blocks 568801-1094400): 1585384.77922077 (15.08166646)
Year 10-15 (blocks 1094401-1620000): 792692.38961038 (7.54083323)
Year 15-20 (blocks 1620001-2145600): 396346.19480510 (3.77041661)
Year 25-30 (blocks 2145601-2671200): 198173.09740250 (1.88520830)
Year 35- (blocks 2671201- ): 99086.54870120 (0.94260415)
There's no such thing as a deflationary block reward. It is impossible to give someone something and deflate the total in circulation. Transaction fees are destructive at rate of ~1.5% per transaction and increase parabolically over 35 years starting at block 43200. Image courtesy of PennyAlts  |
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koby
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March 08, 2014, 01:34:39 PM |
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Where can I find the Market cap of PetrolDollar?
I think Dubai People should know about this coin, it will go to the Moon
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cris1987
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March 08, 2014, 11:46:03 PM |
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WTB, if someone want to sell, send PM
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neuroMode
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March 09, 2014, 02:11:31 AM |
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I have one question that I'm confused about because things weren't fully labeled in the main post: Are the parts I've put in bold below the BLOCK REWARDS? I underlined the block reward for the first 43200 blocks, but do the values in body below it represent the deflationary block rewards? BLOCK REWARDS
43200 blocks (150 days): 50% payout (p$61,037,314) or block reward of 1412.90078704
Year 1-5 (blocks 43201-568800): 3170769.55844155 (30.16333293)
Year 5-10 (blocks 568801-1094400): 1585384.77922077 (15.08166646)
Year 10-15 (blocks 1094401-1620000): 792692.38961038 (7.54083323)
Year 15-20 (blocks 1620001-2145600): 396346.19480510 (3.77041661)
Year 25-30 (blocks 2145601-2671200): 198173.09740250 (1.88520830)
Year 35- (blocks 2671201- ): 99086.54870120 (0.94260415)
There's no such thing as a deflationary block reward. It is impossible to give someone something and deflate the total in circulation. Transaction fees are destructive at rate of ~1.5% per transaction and increase parabolically over 35 years starting at block 43200. Image courtesy of PennyAlts Ok, my apologies, but just to officially clarify if the numbers I put in bold were the block rewards: Block reward decreases are in this order? 1412.90078704-->30.16333293-->15.08166646-->7.54083323-->3.77041661-->1.88520830-->0.94260415 ad infinitum |
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coinweaver (OP)
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March 09, 2014, 02:24:27 AM |
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That is correct.
To put it in cryptocurrency terms: 50% of the total coins will be mined within the next six months and at block 43200 the PetroDollar will turn into a version of bitcoin that destroys itself, block rewards halving every five years.
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raskul
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March 09, 2014, 10:17:42 AM |
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That is correct.
To put it in cryptocurrency terms: 50% of the total coins will be mined within the next six months and at block 43200 the PetroDollar will turn into a version of bitcoin that destroys itself, block rewards halving every five years.
looks OK to me, however - to be the harbinger of doom and gloom yet again, it's gonna take some dedicated miners to keep this coin active, I hope the hash-rates we are currently seeing at pool are going to continue after block 43200 for the good of P$. This is one coin that can succeed, but it's going to take dedication. I'm putting all I can into it, which is currently a 50GH/s BFL (the rest of my rig is all old getwork hardware and I can't get my proxy pointing at any of the P$ pools to hash correctly.) |
tips 1APp826DqjJBdsAeqpEstx6Q8hD4urac8a
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