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

[pnosker]

Have got a couple questions, I do apologise if they have been answered already, could not find it through the search function.

According to http://www.vericoin.info/interest.html

"Vericoin's interest rate can range from 0% to just under 3%. The practical range of interest is between 1.5-2.5%. Based upon the number of coins being staked (occurs when the wallet is open and unlocked), the interest rate varies. The more coins staked, the higher the interest rate. This provides incentive for keeping the client open and unlocked, further securing the network"

"The VeriCoin development team studied the economics of interest/inflation rates in model systems and the key range for a stable economy ranges between 1.5-2.5%. Finally, with a slow inflation rate (1.5-2.5% vs ~10% for Bitcoin), the coins have the potential to become a steadily valued currency"

So I understand, the incentive for keeping the client open and unlocked is.. not losing spending power? (eaten by 1.5-2.5% inflation rate)

Has Bitcoin any inflation rate? (not to mention 10%) I thought one of the "cons" of btc were that its deflationary..

thanks

Bitcoin is minting a block of 25 BTC every 10 minutes. There are 525,949 minutes in a year so 1,314,872 Bitcoins are being produced a year inflating the total supply. At current rates of $630 per Bitcoin, that is $696,882,160 a year in inflation.

Bitcoin will stop mining in just over 100 years. Then it will be deflationary.

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[Isokoira]

WOW...about to drop to 37k..

what da helllllll

Look at this guys post history, and nearly everyone here crying about the price gonna drop to nothing. They made it to obvious with these alias's /caugh IE

They been pumping, then bashing, then pumping... Min, VRC... and a couple other ones that a certain couple known manipulators been targetting.


Coincidence? Time and everything line up fairly well with PnD patterns. My god it just takes a minute of research to see right through these games.

+1

Direct from his post admitting spread FUD

I already admitted spreading FUD. I already edited them out of my posts. Dont have control over those who quoted my FUD. Since I am telling you myself that those are FUD, should be pretty self-explanatory to not take them seriously. I got what I needed. It was well worth it IMO.

[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.

[patronis]

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

[patronis]

what im saying is that the compound intrest will kill over time small investers , which are the majority, big adresses will dump weekly intrest thats worth more then an avrege player, thats the truth , no fud like some say , just look at the "rich list"

[dimfot]

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

there is no fun when there is no pump and dump. stability is ok but you make more if you catch the wave

[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