Can someone explain Reddcoin[RDD] PoSV in human so an idiot can understand

[coinbuyer2580]

I have read the entire PDF about how PoSV works, while it did answer some questions I still feel I don't truly understand it. Can someone please explain it like you are talking to a child.

http://agroff.github.io/posv/ 

Ok so I think I have it sorted out, it is pretty simple to understand once you have worked your way around Reddcoins own technical PDF.

In layman's terms it works like this:

PoSV Proof of Stake Velocity

They designed the system to reward people not only for having a stake in the currency but for actively using the currency which encourages the economy of the coin. If it was all about how many coins you had the coin would be hoarded instead of used as currency.

Velocity means that the older your coin is the less it will stake, so a coin that is 4 weeks old will reward much better than a coin that is 10 weeks old. I think it 1/2's each time the coin stakes or earns.

This means that you not only want to stake volume of the the coin but you need to keep them young to ensure they are rewarding you at the highest stake.

Thats how I understand it. I could be wrong and welcome someone to explain it better.

[bonipper]

Can someone please explain it like you are talking to a child.

Can someone explain it even simpler than that for me please?

[ReddCoin]

http://agroff.github.io/posv/

[coinbuyer2580]

OP updated

[coinbuyer2580]

I have read the entire PDF about how PoSV works, while it did answer some questions I still feel I don't truly understand it. Can someone please explain it like you are talking to a child.

http://agroff.github.io/posv/  ya read this

Ok so I think I have it sorted out, it is pretty simple to understand once you have worked your way around Reddcoins own technical PDF.

In layman's terms it works like this:

PoSV Proof of Stake Velocity

They designed the system to reward people not only for having a stake in the currency but for actively using the currency which encourages the economy of the coin. If it was all about how many coins you had the coin would be hoarded instead of used as currency.

Velocity means that the older your coin is the less it will stake, so a coin that is 4 weeks old will reward much better than a coin that is 10 weeks old. I think it 1/2's each time the coin stakes or earns.

This means that you not only want to stake volume of the the coin but you need to keep them young to ensure they are rewarding you at the highest stake.

Thats how I understand it. I could be wrong and welcome someone to explain it better.