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tom14cat14 (OP)
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September 05, 2014, 06:00:11 PM |
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I will end the sign up tonight 11:59PM CDT. So you have 11 hours to get your coins and sign up.
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tom14cat14 (OP)
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September 05, 2014, 08:46:13 PM |
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Just over 8 hours until the first enrollment closes.
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tom14cat14 (OP)
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September 06, 2014, 06:56:52 AM |
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Enrollment closed for profit share. For those who did not make it still gather coins because I will open it up again at some point.
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tom14cat14 (OP)
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September 06, 2014, 07:18:18 AM |
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Ok everyone. There are 2 major changes that need to be talked about with this coin. 1) Should we increase the interest rate for POS? Right now I think 1% is making it so people do not care to open their wallet. Which slows down the network. 2) Min coin age, Should we reduce it? Right now it is at 24 hours. Reducing it will also help the network but will increase compounded interest. All of this should increase our network stability but it will increase inflation. I think we need to do both. I am split on interest on how we should handle it. I think going to 10% and then every year dropping 1% until we reach 5% would be good. And I think 3 hours is a good time for coin maturity.
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*Sakura*
Legendary
 Offline
Activity: 1624
Merit: 1005
I wish you all love and profitable investments!!!
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September 06, 2014, 07:52:30 AM
Last edit: September 06, 2014, 08:27:23 AM by *Sakura* |
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Ok everyone. There are 2 major changes that need to be talked about with this coin. 1) Should we increase the interest rate for POS? Right now I think 1% is making it so people do not care to open their wallet. Which slows down the network. 2) Min coin age, Should we reduce it? Right now it is at 24 hours. Reducing it will also help the network but will increase compounded interest. All of this should increase our network stability but it will increase inflation. I think we need to do both. I am split on interest on how we should handle it. I think going to 10% and then every year dropping 1% until we reach 5% would be good. And I think 3 hours is a good time for coin maturity.
I think the interest rate for POS need to be set at 15%, with an annual decrease of 5%, and with fixation at the level of 5% in 2 years. The min coin age needed to set at 8 - 12 hours, maximum - 15 days. Will be enough to stabilize our network. |
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Biomech
Legendary
Offline
Activity: 1372
Merit: 1022
Anarchy is not chaos.
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September 06, 2014, 08:04:21 AM |
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Ok everyone. There are 2 major changes that need to be talked about with this coin. 1) Should we increase the interest rate for POS? Right now I think 1% is making it so people do not care to open their wallet. Which slows down the network. 2) Min coin age, Should we reduce it? Right now it is at 24 hours. Reducing it will also help the network but will increase compounded interest. All of this should increase our network stability but it will increase inflation. I think we need to do both. I am split on interest on how we should handle it. I think going to 10% and then every year dropping 1% until we reach 5% would be good. And I think 3 hours is a good time for coin maturity.
I think your interest goals are probably too modest, and I think the coin age should be no less than 6 hours, with 12 being better. Rather than drop a one liner on ya, let me explain my reasoning a bit. The coin is pure POS and now the profit share has removed nearly half of the coins in existence from circulation. Even allowing for profit sharing, this will make the coin so freakin' rare that retail adoption is not even a possibility. As an investment vehicle, that might be a good long term strategy, but I would suggest starting your interest rate at 50 percent, and drop one percent every thirty days until you're down to 10 percent, then follow the strategy you had above. As you know, I'm not a programmer, so I'm not sure how feasible that is, but from a publicity dynamic, it seems pretty good to me. That's the interest, using the term loosely. In reality POS is a different form of mining rather than true interest, so perhaps one should look at it that way rather than as gaining interest. While the effect is similar the mechanisms are not. True interest is gained from people buying the money on time, rather than holding it. Proof of Stake is a way of parking the money and using it to mine via staking. First things last, my reasoning on the time frame is that you shouldn't tinker too much with that which works well. Firecoin stakes like a witch at the vatican. |
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tom14cat14 (OP)
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September 06, 2014, 04:07:55 PM |
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Can I ask you guys why you like the longer coin maturity? I have KTK and it is a 3 hour min coin maturity and it has a nice and fast block chain. Do you guys know of some kind of reason for that short of maturity?
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Biomech
Legendary
Offline
Activity: 1372
Merit: 1022
Anarchy is not chaos.
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September 06, 2014, 04:28:26 PM |
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Can I ask you guys why you like the longer coin maturity? I have KTK and it is a 3 hour min coin maturity and it has a nice and fast block chain. Do you guys know of some kind of reason for that short of maturity?
In my case, paranoia  I don't have an issue with the time frame, just that I don't like to see things "fixed" that work well. Firecoind and Firecoin-qt both stake regularly even on small amounts as it stands. Just my opinion, don't fix what ain't broke. |
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tom14cat14 (OP)
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September 06, 2014, 04:32:58 PM |
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Can I ask you guys why you like the longer coin maturity? I have KTK and it is a 3 hour min coin maturity and it has a nice and fast block chain. Do you guys know of some kind of reason for that short of maturity?
In my case, paranoia I don't have an issue with the time frame, just that I don't like to see things "fixed" that work well. Firecoind and Firecoin-qt both stake regularly even on small amounts as it stands. Just my opinion, don't fix what ain't broke. Well it kind of is broke in terms of length of block times. There are times when the chain slows to a crawl. It depends on who has wallet open and also when people move coins. |
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web_PC
Member
Offline
Activity: 294
Merit: 10
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September 07, 2014, 01:57:50 PM |
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Ok everyone. There are 2 major changes that need to be talked about with this coin. 1) Should we increase the interest rate for POS? Right now I think 1% is making it so people do not care to open their wallet. Which slows down the network. 2) Min coin age, Should we reduce it? Right now it is at 24 hours. Reducing it will also help the network but will increase compounded interest. All of this should increase our network stability but it will increase inflation. I think we need to do both. I am split on interest on how we should handle it. I think going to 10% and then every year dropping 1% until we reach 5% would be good. And I think 3 hours is a good time for coin maturity.
I think that interest rate need to be set at 5-7% annually. First year 7%, second 6%, and third and other 5%. |
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tom14cat14 (OP)
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September 07, 2014, 08:26:45 PM |
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Ok everyone. There are 2 major changes that need to be talked about with this coin. 1) Should we increase the interest rate for POS? Right now I think 1% is making it so people do not care to open their wallet. Which slows down the network. 2) Min coin age, Should we reduce it? Right now it is at 24 hours. Reducing it will also help the network but will increase compounded interest. All of this should increase our network stability but it will increase inflation. I think we need to do both. I am split on interest on how we should handle it. I think going to 10% and then every year dropping 1% until we reach 5% would be good. And I think 3 hours is a good time for coin maturity.
I think that interest rate need to be set at 5-7% annually. First year 7%, second 6%, and third and other 5%. Thanks for the input. Could we get more input everyone. |
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HotSwap
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September 07, 2014, 09:03:28 PM |
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Ok everyone. There are 2 major changes that need to be talked about with this coin. 1) Should we increase the interest rate for POS? Right now I think 1% is making it so people do not care to open their wallet. Which slows down the network. 2) Min coin age, Should we reduce it? Right now it is at 24 hours. Reducing it will also help the network but will increase compounded interest. All of this should increase our network stability but it will increase inflation. I think we need to do both. I am split on interest on how we should handle it. I think going to 10% and then every year dropping 1% until we reach 5% would be good. And I think 3 hours is a good time for coin maturity.
I think that interest rate need to be set at 5-7% annually. First year 7%, second 6%, and third and other 5%. This option sounds best so far. |
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tom14cat14 (OP)
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September 07, 2014, 09:09:53 PM |
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Ok everyone. There are 2 major changes that need to be talked about with this coin. 1) Should we increase the interest rate for POS? Right now I think 1% is making it so people do not care to open their wallet. Which slows down the network. 2) Min coin age, Should we reduce it? Right now it is at 24 hours. Reducing it will also help the network but will increase compounded interest. All of this should increase our network stability but it will increase inflation. I think we need to do both. I am split on interest on how we should handle it. I think going to 10% and then every year dropping 1% until we reach 5% would be good. And I think 3 hours is a good time for coin maturity.
I think that interest rate need to be set at 5-7% annually. First year 7%, second 6%, and third and other 5%. This option sounds best so far. I like it too. Enough that people should want to stake. But not too much that we have inflation issues. |
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tom14cat14 (OP)
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September 08, 2014, 01:15:28 AM |
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A few have asked when I will reopen the profit share enrollment. I am thinking it will be a few weeks before I open it again but it really depends on the amount of coins still enrolled. Also if we are able to get more hash it will increase payouts and I can allow for more people/coins in.
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HotSwap
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September 08, 2014, 02:03:06 AM |
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A few have asked when I will reopen the profit share enrollment. I am thinking it will be a few weeks before I open it again but it really depends on the amount of coins still enrolled. Also if we are able to get more hash it will increase payouts and I can allow for more people/coins in.
Maybe you can offer a option to hold 10% of all payouts for increase of hash. Otherwise It probably wont increase for sometime. |
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tom14cat14 (OP)
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September 08, 2014, 02:33:42 AM |
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A few have asked when I will reopen the profit share enrollment. I am thinking it will be a few weeks before I open it again but it really depends on the amount of coins still enrolled. Also if we are able to get more hash it will increase payouts and I can allow for more people/coins in.
Maybe you can offer a option to hold 10% of all payouts for increase of hash. Otherwise It probably wont increase for sometime. This a pretty good idea. The one fear I have about it is that people will not like me taking 10% of the earnings away. Everyone else let me know your thoughts and if there is enough interest I will probably email everyone enrolled what their opinion is. |
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tom14cat14 (OP)
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September 08, 2014, 05:04:22 PM |
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Updated spreadsheet with yesterdays mining results. So far it has been pretty steady. It should be about what it was last time. For those enrolled you can buy more coins to increase your share.
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