[ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released

[Fippy]

so basiclly is you get staked every 8 hours and you dont take it out , at the end of the year you dont have x amount +2,2% but much much more.

It won't be, "much much" more. It will be, "a little bit more". Do some Google searches and read up on Compound Interest to gain a better understanding.

There are even online Compound Interest calculators that you can plug your total VRC into, along with the expected APR and the # of times per year that the interest is compounded. You'll find that the results are not nearly as big as you were originally thinking.

and now take that so called 2.2% intrest and put it on the top 50 VRC adresses , there "intrest" will effect a huge tsunami dump

Oh for the love of all that is ****ing holy...do you even know how to calculate compound interest?

[onsightit]

here is a very intresting article i found on the litecoin tread on POS what do you guys think??

Consider the source. Dying LTC market heavily invested in asic hardware. Plus, this has already been fudded.

[patronis]

[quoteOh for the love of all that is ****ing holy...do you even know how to calculate compound interest?][/quote]

please educate me.

[Fippy]

[quoteOh for the love of all that is ****ing holy...do you even know how to calculate compound interest?]

please educate me.
[/quote]


It's per year. YEAR. Like your damn savings account at your bank.

One year's interest of the top 50 on the VeriRich list would be less than what was dumped yesterday.

[gwedo]

we are sinking under 0.00036

[pnosker]

[quoteOh for the love of all that is ****ing holy...do you even know how to calculate compound interest?]

please educate me.
[/quote]

https://qrc.depaul.edu/StudyGuide2009/Notes/Savings%20Accounts/Compound%20Interest.htm

A year has roughly 8765 hours in it. It takes 8.3 hours for staking, so ~1056 compound intervals


In this formula:
P = your VRC amount
r = rate of interest, so in this case 2.2% or so = 0.022
t = 1 year
A = your VRC after 1 year of staking if compounded the entire time
n = 1056

[ScottAllyn]

so basiclly is you get staked every 8 hours and you dont take it out , at the end of the year you dont have x amount +2,2% but much much more.

It won't be, "much much" more. It will be, "a little bit more". Do some Google searches and read up on Compound Interest to gain a better understanding.

There are even online Compound Interest calculators that you can plug your total VRC into, along with the expected APR and the # of times per year that the interest is compounded. You'll find that the results are not nearly as big as you were originally thinking.

and now take that so called 2.2% intrest and put it on the top 50 VRC adresses , there "intrest" will effect a huge tsunami dump

Okay... so lets say those 50 addresses have 4.5 million coins between them. Over the course of a single day, they'll earn maybe 6 coins per address in interest. How is that going to "effect a huge tsunami dump"?

[patronis]

crypsy under @36 i think we will see today a new low.

[chunkyjunkie]

crypsy under @36 i think we will see today a new low.

I think we will see today a new high, yoda...


Only 17 btc in sells back up to 41 on mp.  It is all the way you panic....

[majeis]

so basiclly is you get staked every 8 hours and you dont take it out , at the end of the year you dont have x amount +2,2% but much much more.

It won't be, "much much" more. It will be, "a little bit more". Do some Google searches and read up on Compound Interest to gain a better understanding.

There are even online Compound Interest calculators that you can plug your total VRC into, along with the expected APR and the # of times per year that the interest is compounded. You'll find that the results are not nearly as big as you were originally thinking.

and now take that so called 2.2% intrest and put it on the top 50 VRC adresses , there "intrest" will effect a huge tsunami dump

You're worried about stupid crap or you're just being intentionally obtuse to spread disinformation.

Shit, let's blow up the context even more and say the top 100 addresses are staking and dumping constantly.

20.8 million generating a steady annual 2.2% would make 457,600 new coins over the course of a year.

457,600 / 365 = 1253.7 (when rouded up)

This is the whole effect of damn near the entire network, and your nightmare scenario involves some kind of concerted effort of all these people mass dumping to do what? Decrease the value of their holdings? For what purpose?

You're seriously worried about less than 1300 coins being "dumped" every day when more than that gets traded in five minutes?

[patronis]

I think we will see today a new high, yoda...

defenetly but first we have to go down to be happy later

btw who knows what time is the youtube podcast with the devs?

[kattekop]

Correct me if I'm wrong.
PoS for VeriCoin is calculated as follows:

nSubsidy = (int64)(nCoinAge * ((0.17*(log(nNetworkWeight_/20)))*CENT) * 33 / (365 * 33 + );

The var CENT equals to 0.1
The var nNetworkWeight is the value retrieved from typing 'getmininginfo' in the wallet's console window, 'netstakeweight'.

Calculated upon John Dee's 33 year cycle calendar. Dee chose 33 years for the lifespan of Jesus, for his calendar. An average of days in a year is calculated that way.

PoS for VRC is based upon PPC, but it isn't the same calculation.
As you can see, the more you stake, the more you get with VRC. Other coins differ in this.

[abercrombie]

I think we will see today a new high, yoda...

defenetly but first we have to go down to be happy later

btw who knows what time is the youtube podcast with the devs?

It's today Sunday at 6pm Eastern, 3pm Western, United States.  Could be a good opportunity to load up as the Devs discuss current progress and road map.

[gwedo]

crypsy under @36 i think we will see today a new low.

Wow, VRC taking a bath!  

385 support broken.  Also penetrated 369 support.  

what if jungleman was an insider and knows precisely how deep it will decline?
I am afraid this will be much deeper than we cam imagine.
what if Iconic Expert decided to dump all his holdings to unwind his hands to have enough money to pump other coins and becuase he thinks it will decline to 0.0002 anyway?
its creepy how quick its declining across all boards and exchanges

[chunkyjunkie]

I think we will see today a new high, yoda...

defenetly but first we have to go down to be happy later

btw who knows what time is the youtube podcast with the devs?

You are crazy to be selling here. Looking back sure, it would have been nice to have sold a few to grab some here.

However, the downside risk vs the upside of the next few hours/weeks, you could get caught out of position in a minute..  You just need to be patient or miss a 4k swing in seconds.


They sell to themselves to accomplish that very thing, inexperienced investors not realizing they are selling to themselves and think they can inch out a few more vrc if they sell now and buy right back.


If you think what vrc is accomplishing is smoke and mirrors, by all means sell.   If you think it is fud attacks/manipulation, you are crazy to try for a few more vrc.  They will move it higher before you can react.

[patronis]

It's today Sunday at 6pm Eastern, 3pm Western, United States.  Could be a good opportunity to load up

what time is it in europe?

[Shinraven]

Time to load up !  

https://twitter.com/pnosker/status/485804346727485441

[Fippy]

crypsy under @36 i think we will see today a new low.

Wow, VRC taking a bath!   

385 support broken.  Also penetrated 369 support. 

what if jungleman was an insider and knows precisely how deep it will decline?

He could be an insider that knows how low a certain person or group 'plans' to push it. Plans do have ways of going awry though.

[Morb]

Again with the morons who can't write a sentence that makes sense.  How did they come across the money to play with crypto in the first place?  It is a mystery.

[chunkyjunkie]

I think we will see today a new high, yoda...

defenetly but first we have to go down to be happy later

btw who knows what time is the youtube podcast with the devs?

You are crazy to be selling here. Looking back sure, it would have been nice to have sold a few to grab some here.

However, the downside risk vs the upside of the next few hours/weeks, you could get caught out of position in a minute..  You just need to be patient or miss a 4k swing in seconds.


They sell to themselves to accomplish that very thing, inexperienced investors not realizing they are selling to themselves and think they can inch out a few more vrc if they sell now and buy right back.


If you think what vrc is accomplishing is smoke and mirrors, by all means sell.   If you think it is fud attacks/manipulation, you are crazy to try for a few more vrc.  They will move it higher before you can react.

BTW, they coincide their selling to themselves with the fud you are seeing atm.  Think.

I will also not pretend they don't do it on the upside as well.  My guess is we will hear wondrous and amazing things at 6 EST and the fud will stop and they will switch alts to their happy rainbow glitter unicorn apple pie cotton candy accounts and buy from themselves on the way up.   Again, think.