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Author Topic: [ANN] FIMK: 2.5G POS, extra block rewards, messaging, asset colors, p2p shopping  (Read 178958 times)
gvans
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July 07, 2014, 03:08:05 PM
 #621



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July 07, 2014, 03:32:31 PM
 #622

Krypto FIN ry. wishes to celebrate successful launch of FIMKrypto and begins to fulfill its extra block bounties spree by offering

REWARD
10000 FIMK


for the finder of block 10000.

The extra block reward will be paid within two days from passing block 10000 on top of any other block rewards from the Krypto Fin ry. bounty reserve account.

         
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gvans
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July 07, 2014, 03:40:12 PM
 #623

10000 FIMK

for the finder of block 10000.

Excellent! Just an idea for the future:

The biggest accounts will forge most blocks anyhow (a couple of them with possibly over 10 000 000 FIMK on them from IPO etc), and these big rewards will in average only accumulate in their stakes in the end.

So would it be it would be a good idea for these special forging-rewards to have some kind of mathematical formula to reward smaller accounts with bigger reward. For example account with 10000 FIMK forging that special block would get the full 10000 price but an account with 100000 would get only 1000 or so. This was just as an example, and the precise formula needs a good tweaking but you get the idea. THAT would really make difference for small time crypto-hobbyists and small investors, who are by the way the majority of the community in the long run that you will want to please rather than a handful of whales who will forge tens of thousands FIMK anyhow even without special rewards.

And the remaining FIMK would be used in the next special rewards.

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July 07, 2014, 03:47:43 PM
 #624

10000 FIMK

for the finder of block 10000.

Excellent! Just an idea for the future: The biggest accounts will forge most blocks anyhow (a couple of them with possibly over 10 000 000 FIMK on them from IPO etc), and these big rewards will in average only accumulate to their stakes in the end. So would it be a good idea for these special forging-awards to have some kind of mathematical formula to reward smaller accounts with bigger reward. For example account with 10000 FIMK forging that special block would get the full 10000 price but an account with 100000 would get only 1000 or so. Just as an example, the precise formula needs a good tweaking but you get the idea. THAT would really make difference for small time crypto-hobbyists and small investors, which is by the way the majority of the community in the long run that you want to please rather than a handful of whales which will forge tens of thousands FIMK anyway.

And the remaining FIMK would be used in the next special rewards.

i agree 100%
the way crypto works in my eyes atm is still the same as fiat the rich get richer and the poor get fuck all lmao (yes i am in the poor section haha)


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●  Whitepaper
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July 07, 2014, 04:01:48 PM
 #625

I love forging FIMK.
The good feeling when you see your balance constantly  growing, is a very nice side effect Grin

Yes it is! It's precisely what I missed in NXT... been forging for months, no return however...
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July 07, 2014, 04:04:48 PM
 #626

Excellent! Just an idea for the future:

The biggest accounts will forge most blocks anyhow (a couple of them with possibly over 10 000 000 FIMK on them from IPO etc), and these big rewards will in average only accumulate in their stakes in the end.

So would it be a good idea for these special forging-rewards to have some kind of mathematical formula to reward smaller accounts with bigger reward. For example account with 10000 FIMK forging that special block would get the full 10000 price but an account with 100000 would get only 1000 or so. This was just as an example, and the precise formula needs a good tweaking but you get the idea. THAT would really make difference for small time crypto-hobbyists and small investors, who are by the way the majority of the community in the long run that you will want to please rather than a handful of whales who will forge tens of thousands FIMK anyhow even without special rewards.

And the remaining FIMK would be used in the next special rewards.

I am a large FIM holder (from IPO) and I even I think it would be nice to have incentives for smaller FIM holders to get involved.

NEM, LSK, STRAT
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July 07, 2014, 04:05:19 PM
 #627

i agree 100%
the way crypto works in my eyes atm is still the same as fiat the rich get richer and the poor get fuck all lmao (yes i am in the poor section haha)

I really wish people would stop saying this, because it's just not true.
The saying refers to systems where the rich gets better return for their money. Just because they have more they get more opportunities and favorable terms. You know, like the real word.

But with PoS the rich do not get richer. No matter how much coin do you have, any one coin will always earn the same return. This is the most fair system you can ask for.

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July 07, 2014, 04:18:56 PM
 #628

But with PoS the rich do not get richer. No matter how much coin do you have, any one coin will always earn the same return. This is the most fair system you can ask for.

Come on it's math. Big stakes do accumulate way faster and therefore rich do get richer.

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Eliphaz Fimk
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July 07, 2014, 04:19:08 PM
 #629

I am a large FIM holder (from IPO) and I even I think it would be nice to have incentives for smaller FIM holders to get involved.
We'll think this through how to arrange it, but it's very difficult to do without skewing the incentives towards unfairness.

Bonus rewards are not paid very often, so random variance will play a big role and even small time forgers have a considerable chance of hitting the bonanza on one of them.

         
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July 07, 2014, 04:20:53 PM
 #630

1000+ votes on BTER. come on
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July 07, 2014, 04:38:00 PM
 #631

I am a large FIM holder (from IPO) and I even I think it would be nice to have incentives for smaller FIM holders to get involved.
We'll think this through how to arrange it, but it's very difficult to do without skewing the incentives towards unfairness.

Bonus rewards are not paid very often, so random variance will play a big role and even small time forgers have a considerable chance of hitting the bonanza on one of them.

Rough idea: Divide the reward with the forging account's balance and use that as a factor. Additionally have a maximum cap for revard, like 10000 now. This way anyone with 10000 or less would get the full reward 10000. Account with 50000 would get 10000/50000 times 10000 = 2000 etc. Simple.

The 200 FIMK basic reward would be paid in any case for the extra rewarded block like for any block. So an account with a million would get the usual 200 + only 100 extra. But an account with a million on it will forge like what, 600 000 a year was it?

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July 07, 2014, 04:55:44 PM
 #632

Proportionally each account forge with the same rate. No matter how coins it has.
If talking about this particular 10000 reward, most _probably_ it will go to the `middle class` holder. Just because stakes of `poor` holders are too small, and count of `rich` holders is too low.
I don`t remember how IPO listing looked like, but most probably again, it looked like most of things in our world - as `normal distribution` Smiley

But from other side, we will see normal distribution of bonus rewards only after they will happen in a quite a lot quantity. Smiley
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July 07, 2014, 04:57:42 PM
 #633

Proportionally each account forge with the same rate. No matter how coins it has.

But with PoS the rich do not get richer. No matter how much coin do you have, any one coin will always earn the same return. This is the most fair system you can ask for.

Come on it's math. Big stakes do accumulate way faster and therefore rich do get richer.

I guess I'm trying to say we have to see this reward as an average future Finnish user will see it. There is the great potential if it will be widely adopted. So as a citizen you get 100 FIMK a month for starters. That is peanuts but that is what they will have. So you have received 600 in half a year and you're thinking: should I investigate this further and maybe try forging. Hey there is these regular rewards every week! Hmmm, maybe I'll give it a shot. So rather have a rewards more often and pay them reduced whenever the forging account is a big one (saving the capital for future rewards) rather than pay a full reward twice a year.

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July 07, 2014, 05:08:05 PM
 #634

Proportionally each account forge with the same rate. No matter how coins it has.

But with PoS the rich do not get richer. No matter how much coin do you have, any one coin will always earn the same return. This is the most fair system you can ask for.

Come on it's math. Big stakes do accumulate way faster and therefore rich do get richer.

You don't understand.

Poor guy has 0.1% of all coins initially.
Rich guy has 10% of all coins initially.
Both are forging 24/7 for a year.

In the end of the year they still will have 0.1%/10% of all existing coins.
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July 07, 2014, 05:27:23 PM
 #635

Proportionally each account forge with the same rate. No matter how coins it has.

But with PoS the rich do not get richer. No matter how much coin do you have, any one coin will always earn the same return. This is the most fair system you can ask for.

Come on it's math. Big stakes do accumulate way faster and therefore rich do get richer.

You don't understand.

Poor guy has 0.1% of all coins initially.
Rich guy has 10% of all coins initially.
Both are forging 24/7 for a year.

In the end of the year they still will have 0.1%/10% of all existing coins.


example calculation:

100 000 coins distributed from total 200 000
daily interest 1%

100 000 coins distributed
account A 0.1% (100 coins)  earns 1 a day
account B 10% (10 000 coins) earns 100 a day
account C 89.1% (89 900 coins) earns 899 a day

after one day
account A 101 coins = 0.05% of total 200 000
account B 10100 coins = 5.0% of total 200 000
account C 90799 coins = 45.4% of total 200 000

after two days
account A 102.01 coins = 0.051%
account B 10201 coins = 5.10%
account C 91706.99 coins = 45.85%

after ten days
account A 110.46 coins = 0.055%
account B 11046 coins = 5.5%
account C 99305.53 coins = 49.65%

after 50 days
account A 164.46 coins = 0.082% (started from 0.05% of total 200 000)
account B 16446.32 coins = 8.2% (started from 5% of total 200 000)
account C 147852.40 coins = 73.9% (started from 44.95% of total 200 000)

The growth will end when the total cap of 200 000 coins is reached naturally.


edit: this clearly does not work in the economic model of fixed amount of currency, my bad
edit2: it kinda does with FIMK after all. Half of the total amount in the citculation in the beginning, so the percentages of the stakes from start will change accordingly  Wink
edit3: D'oh  Wink https://bitcointalk.org/index.php?topic=633304.msg7724062#msg7724062

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July 07, 2014, 05:37:24 PM
 #636

dance said In the end of the year they still will have 0.1%/10% of all existing coins.
That is not the case.

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July 07, 2014, 05:39:01 PM
 #637


basic maths (example):

total 100 000 coins

account A 0.1% (100 coins)  earns 1 a day
account B 10% (10 000 coins) earns 100 a day
So there are 100000 coins represents 100%.
Where are another 89.9%? Lets name it account C (89900 coins).

Quote
after one day
account A 101 coins = 0.101%
account B 10100 coins = 10.1%
And account C  90799 coins.

So NOW 100% coins != 100000 coins. It is 90799+10100+101=101000 now.
So A still has 0.1%
B still has 10%
C still has 89.9%

etc
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July 07, 2014, 05:47:40 PM
 #638

Someone give ME a facepalm, lol. But I still don't understand how does this work when put into perspective of having fixed amount of coins.

Anyhow agree with Jack Needles, good start.

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July 07, 2014, 05:56:33 PM
 #639

I have been forging, but had to reboot my computer today. After reboot, I started up the fimk java process (ran the run.bat file), and logged in my account. It says I'm forging again - is this normal? I thought that if the java process dies I'd have to start forging again.
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July 07, 2014, 05:58:16 PM
 #640

@dance
Actually with FIMK model the total would be accordingly to previous example calculation 200 000 fixed.
and 100 000 from the beginning in circulation. Right?

Total FIMK in Genesis block: 666,280,000
Genesis block stakeholder funds: 333,140,000

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