[ANN][1000 SYNC] Proof of Stake now run by BLOCKCHAIN DEVELOPMENT COMPANY

[MsCollec]

If it would make it any easier...at least to start.  I know that, for example, my paycheck I just have deposited onto a Visa card with my name on it, that they issued me.  If I login to my account on their website they basically give you instructions on the account and routing numbers.

The card number is the account number and the routing number they have listed on one of the pages once you login.

I know a lot of people already have cards for their paycheck or just bought from a store that you can do the same with.  Wouldn't actually have to issue cards, at least to start.

I want a branded credit card and you can reload it online using Sync.

[powersup]

If it would make it any easier...at least to start.  I know that, for example, my paycheck I just have deposited onto a Visa card with my name on it, that they issued me.  If I login to my account on their website they basically give you instructions on the account and routing numbers.

The card number is the account number and the routing number they have listed on one of the pages once you login.

I know a lot of people already have cards for their paycheck or just bought from a store that you can do the same with.  Wouldn't actually have to issue cards, at least to start.

I want a branded credit card and you can reload it online using Sync.

Can you use these? https://bitcointalk.org/index.php?topic=577638.0

[jnasm77]

Anon coin with anon visa would be the shiznit!  Can everyone say "Yay, tax evasion!"

[MsCollec]

I have to rewrite the Synclub white paper   and explain how the system works.

I am still writing the intro

Crypto-Currency Market is one of the fastest growing economy in the world with a total market capitalization of $ 8,948,150,081 as at 4th July, 2014. There is no central platform for business owners and developers to build awareness of their brands and while giving users the power of choice and confidence.

Synclub is a simple platform for crypto-currency business owners to reward and recognize crypto users through rewards program, consumer promotions and trade incentives

[jnasm77]

I have to rewrite the Synclub white paper   and explain how the system works.

I am still writing the intro

Crypto-Currency Market is one of the fastest growing economy in the world with a total market capitalization of $ 8,948,150,081 as at 4th July, 2014. There is no central platform for business owners and developers to build awareness of their brands and while giving users the power of choice and confidence.

Synclub is a simple platform for crypto-currency business owners to reward and recognize crypto users through rewards program, consumer promotions and trade incentives

4th of July 2014? Its only June 5th.

[MsCollec]

Ways to redeem your points

• Redeem Sync Rewards points toward your prepaid credit card balance
• Gift Cards / Certificates
• Convert Points - members can convert points to other Loyalty Programs.
• Merchandise -largest cryptocurrecny adult sex store
• Points Transfer - Members can transfer points between eligible Synclub accounts.

Donate to your fav charity org

[manav1112]

Ways to redeem your points

• Redeem Sync Rewards points toward your prepaid credit card balance
• Gift Cards / Certificates
• Convert Points - members can convert points to other Loyalty Programs.
• Merchandise -largest cryptocurrecny adult sex store
• Points Transfer - Members can transfer points between eligible Synclub accounts.

Donate to your fav charity org

Would prepaid credit cards be possible though?  That would be awesome!

[Kenta]

Ways to redeem your points

• Redeem Sync Rewards points toward your prepaid credit card balance
• Gift Cards / Certificates
• Convert Points - members can convert points to other Loyalty Programs.
• Merchandise -largest cryptocurrecny adult sex store
• Points Transfer - Members can transfer points between eligible Synclub accounts.

Donate to your fav charity org

Would prepaid credit cards be possible though?  That would be awesome!

Perhaps Amazon gift cards would work as well? If claimable by a code they could be useful even in Europe.

And the same for eBay gift cards.

[turner3d]

MsCollec & Nite69 - the rewards program sounds great, but there are still fundamental decisions to be made about the properties of the coin itself. My earlier posts about interest rates, timeframes and coin counts has gone without response from anyone on the team, so I'll try to sum it up as briefly as possible.

Initial interest rate	Half life	Final coin count	Effective maximum reached by
100%	1 month	1,183.36	2015/6
100%	1 year	7,389.06	2031
100%	1.15 years	9,974.18	2034
1,381.55%	1 month	9,999.98	2015/9

Note that the last scenario is the only way to get to the 10000 limit with a halving interest rate within a year. 1,381.55% interest sounds absolutely crazy, but it would actually roughly triple the coin count within 1 month (3162 total) , hit 9994 coins by the end of the year, and finish off at 9999.98 coins some time later. Again, this assumes that everybody who owns Sync keeps their wallet open and that none sits on exchanges.

It seems to me that it would be better to use the total # of coins in existence as a half-life trigger instead of using months, years, etc. That way, the final number of coins in existence could at least be set in stone. The first thing to determine is roughly how soon the 10,000 final count should be hit, then the math can go from there.

Having a very small number of POW coins which multiply themselves 10x via POS over several years is an interesting prospect. It would be a huge incentive to buy the coin as well as to hang on to them and keep your wallet open (contributing to the POS process and stability) for a very long time. I may be missing something, but combining an ultra-low supply with the ability to multiply your holdings by a factor of 10 seems like a big winner to me.

I have uploaded the spreadsheet I used to figure this stuff out at https://app.box.com/s/2w238twcd57falpq7ij3 - please download & play with it and let us all know your thoughts.

[MsCollec]

MsCollec & Nite69 - the rewards program sounds great, but there are still fundamental decisions to be made about the properties of the coin itself. My earlier posts about interest rates, timeframes and coin counts has gone without response from anyone on the team, so I'll try to sum it up as briefly as possible.

Initial interest rate	Half life	Final coin count	Effective maximum reached by
100%	1 month	1,183.36	2015/6
100%	1 year	7,389.06	2031
100%	1.15 years	9,974.18	2034
1,381.55%	1 month	9,999.98	2015/9

It seems to me that it would be better to use the total # of coins in existence as a half-life trigger instead of using months, years, etc. That way, the final number of coins in existence could at least be set in stone. The first thing to determine is roughly how soon the 10,000 final count should be hit, then the math can go from there.

Having a very small number of POW coins which multiply themselves 10x via POS over several years is an interesting prospect. It would be a huge incentive to buy the coin as well as to hang on to them and keep your wallet open (contributing to the POS process and stability) for a very long time. I may be missing something, but combining an ultra-low supply with the ability to multiply your holdings by a factor of 10 seems like a big winner to me.

I have uploaded the spreadsheet I used to figure this stuff out at https://app.box.com/s/2w238twcd57falpq7ij3 - please download & play with it and let us all know your thoughts.

Is the stake interest 10%

[AlfaONE]

not happy

[turner3d]

Is the stake interest 10%

I don't understand the question... the scenarios above show stake interest starting at 100% annual and halving over a period of time (as previously discussed) except for the last one

[Steam20]

What stake interest would be best in your view?

[LTCagt]

not happy

why ?

It might seem crazy what I'm about to say
Sunshine she's here, you can take a break
I'm a hot air balloon that could go to space
With the air, like I don't care baby by the way

Because I'm happy
Clap along if you feel like a room without a roof
Because I'm happy
Clap along if you feel like happiness is the truth
Because I'm happy
Clap along if you know what happiness is to you
Because I'm happy
Clap along if you feel like that's what you wanna do

[turner3d]

The current "moneysupply" is 1,011.47 Sync. I have read over and over in this thread that the final coin count will be and is limited to 10,000 Sync. Since the POW phase is over, the only way to get the supply up to 10,000 is through staking. If that is truly the goal, there are numerous ways to get there, but nothing has been presented by the dev team to date that will come even close to 10,000.

MsCollec previously liked the idea of having a stake that halves every so often, the same way that block-solving rewards half for many coins. Her initial post about leaving it at 100% for 2 weeks then halving it every month would only get the final supply to around 1,183 coins. These are the 2 scenarios for a halving system that would get the supply to 10,000:

• 100% annual interest halving every 1.15 years - 10,000 Sync would be reached some time in the year 2034
• 1,381% annual interest halving every month - 10,000 sync would be reached in roughly 15 months

To sum up, either the staking periods must be much longer or the interest rate much higher for the money supply to eventually reach 10,000.

[wasamata]

1000% per day  

zimbabywe style

[Kenta]

The current "moneysupply" is 1,011.47 Sync. I have read over and over in this thread that the final coin count will be and is limited to 10,000 Sync. Since the POW phase is over, the only way to get the supply up to 10,000 is through staking. If that is truly the goal, there are numerous ways to get there, but nothing has been presented by the dev team to date that will come even close to 10,000.

MsCollec previously liked the idea of having a stake that halves every so often, the same way that block-solving rewards half for many coins. Her initial post about leaving it at 100% for 2 weeks then halving it every month would only get the final supply to around 1,183 coins. These are the 2 scenarios for a halving system that would get the supply to 10,000:

• 100% annual interest halving every 1.15 years - 10,000 Sync would be reached some time in the year 2034
• 1,381% annual interest halving every month - 10,000 sync would be reached in roughly 15 months

To sum up, either the staking periods must be much longer or the interest rate much higher for the money supply to eventually reach 10,000.

How about 100% monthly interest, reducing by 20% every month? As in; 100%, 80%, 64%, 51.2% ....

[MsCollec]

not happy

why ?

It might seem crazy what I'm about to say
Sunshine she's here, you can take a break
I'm a hot air balloon that could go to space
With the air, like I don't care baby by the way

Because I'm happy
Clap along if you feel like a room without a roof
Because I'm happy
Clap along if you feel like happiness is the truth
Because I'm happy
Clap along if you know what happiness is to you
Because I'm happy
Clap along if you feel like that's what you wanna do

I'm reporting you to Iranian authorities for writing Happy lyrics here in the thread 

[Chronikka]

The current "moneysupply" is 1,011.47 Sync. I have read over and over in this thread that the final coin count will be and is limited to 10,000 Sync. Since the POW phase is over, the only way to get the supply up to 10,000 is through staking. If that is truly the goal, there are numerous ways to get there, but nothing has been presented by the dev team to date that will come even close to 10,000.

MsCollec previously liked the idea of having a stake that halves every so often, the same way that block-solving rewards half for many coins. Her initial post about leaving it at 100% for 2 weeks then halving it every month would only get the final supply to around 1,183 coins. These are the 2 scenarios for a halving system that would get the supply to 10,000:

• 100% annual interest halving every 1.15 years - 10,000 Sync would be reached some time in the year 2034
• 1,381% annual interest halving every month - 10,000 sync would be reached in roughly 15 months

To sum up, either the staking periods must be much longer or the interest rate much higher for the money supply to eventually reach 10,000.

This is why I asked the question if the 10k coin limit was changing. But also I think we are limiting ourselves a little bit by saying the interest rate needs to halve itself. Why not something more gradual, like a small reduction (1-10%) every X number of blocks? X can be chosen depending on how long we want new coins being produced.

[LTCagt]

not happy

why ?

It might seem crazy what I'm about to say
Sunshine she's here, you can take a break
I'm a hot air balloon that could go to space
With the air, like I don't care baby by the way

Because I'm happy
Clap along if you feel like a room without a roof
Because I'm happy
Clap along if you feel like happiness is the truth
Because I'm happy
Clap along if you know what happiness is to you
Because I'm happy
Clap along if you feel like that's what you wanna do

I'm reporting you to Iranian authorities for writing Happy lyrics here in the thread 

oh no please not forgive me im writing only sad Posts in the future   or angry ones