HyperStake Development Journal (HDJ)

[TrueCryptonaire]

I fully support HYP.

[1714065411]

1714065411

[1714065411]

1714065411

[1714065411]

1714065411

[1714065411]

1714065411

[Butoeskor]

I´m working this coin. Do it stake with one number of coin enough small (404 hyp), of moment. I wait with the time... continue all so. What is best to have one block with 1000-4000 byt or two block with 500-2000?. Thanks for all your information. Sorry if you not understand, my english is bad.I am eskorbuto in the IRC.

[David Latapie]

tl;dr: HYP/XUSD market is open and we are launching the "stake and cash" campaign
(this article could be updated later - notificeable updates will be announced in future posts)

It would be an understatement to say that HyperStake is successful. Still, only a fraction of Cryptolanders is aware of it, even less of them have some HYP. And more than that, the overwhelming majority of people out of Cryptolands does not even know it exits - bitcoin is just a bunch of scammers, right? So, what can we do?

First, making it simpler. Second, making it more visible. Third, raising confidence.

Simplicity
So far, I see three directions to pursuit:
1) binaries
2) coin control
3) education

Binaries
Binaries is almost done but we still need:

• Linux binaries (we should not expect the Linux folks to be smarter than the other and will compile, not if we want Linux to be popular - and we do want a libre OS for our libre crypto). I agree providing a binary for every meta-distro is difficult (Red Hat, Debian, Arch, Slackware...) so what about a PPA for Ubuntu, which is the most popular distribution among non-techies? Or maybe PPA is already too difficult. If so, then double this with a .deb for installing "à la Windows" (download and double-click).
• A canonical address for the binaries, like hyperstake-windows-latest.zip, hyperstake-raspberry-latest.tgz, hyperstake-osx-latest.pkg...
• Easier integration of themes into the binaries, so that one doesn't have to manually add the themes
• Have HyperBlue a default theme, at least to show off the themable aspect of HyperStake wallet
• Gitian binaries, if this is not much work

Coin control
This is the hard part. There are actually two things to consider: the methodology and the automation. I'm testing some things, presstab others. Still, we need feedback and coders.
Optimisation part
(assuming wallet is opened 24/7)
20 blocks at 4100 HYP
20 blocks at 4000 HYP
20 blocks at 3900 HYP
...
The reason is that if you place all your blocks at 4000 the last one will hit the max reward before minting (I'm the Guinea pig here; I will probably hit the wall in one day or two, because I have too much blocks maturing at the same moment, so the queue line is veeery long for me).

Automation part
It should count how many free HYP you have (per address) and automatically merge or split blocks in the block size mentionned above. The change address shall be the same as the block address (this would avoid the "500 hunded max addresses" annoyance, which itself requires regulard updates). Ideally, you should not even have to know there is a coin control button. Let's take this challenge: if you need to go to coin control, it means we failed in making it simple enough.

Education
Education is about making even better tutorial (there is are lot of room for improvements here). Maybe some video tutorial but let's be careful with this. Still, if someone wants to script it, lets go!

Oh! One more thing: HyperBank is part of the simplicity branch, but I will say more later, under "confidence".

Visibility
First, there is a matter of timing here. Visibility will bring a lot of people and those people must not be stopped because of complexity. They will rarely give a second chance.
Some leads:

• Continuing giveaways on Poloniex, the raindance on ##hyperstake (including waxo's special giveaway for those attentive enough) and the various games on ##hyp-poker, ##hyp-triva, ##hyp-lotto and ##hyp-casino. Waxo, Kushed and others are doing a great work here.
• Having more faucets and add mail notification to them (like dogecoin does)
• Promoting Dexpla's cryptocluz.com and our donations to the Keepod campaign with the Mintcoin Fund.
• Creating an awesome promotionnal video (not a tutorial). Waxo has the right contacts but we need to script the video first! Here too, we need someone, preferably with some background in video marketing.
• Developping Hyperstake.com. At a bare minimum, there should be canonical addresses for the binaries on hyperstake.com (as well as a download counter), but I'm also considering moving the Hyperstake Developement journal there too, as well as more and more tools (like a faucet straight in hyperstake.com, forms for Hyperloans...). Maybe we will have to change the software platform (or even the hardware platform, it will depend how scalable each of them proves to be).

Confidence
Finally, there is the matter of confidence. This is the one I am the most exited about right now and I'll soon tell you why.

Confidence is partly derived from simplicity (see above). So, if we make HyperStake simple, we automatically score some points in confidence. But there is more than this.

First, people are more confident if they can try out for free. The HyperLoan experiment consists in loaning HYP to people with negative interest. We loan some HYP, we don't ask much in return (essentially we ask them to promote HYP) then once their HYP staked, they give the principal sum back (we can even do it for them, if we dump the privkey or even keep the HYP in a dedicated wallet, but both of these late options mean more work for us) and they KEEP the interest. Think of it as bigger giveway, but for some work.
Free HYP level 1: faucet and ##hyperstake rain
Free HYP level 2: giveaways on Poloniex and playing on ##hyp-trivia
Free HYP level 3: Hyperloan
Each level requires more commitment and gives more reward


Second, if the confidence is established, they can consider depositing their HYP at the HyperBank. They have nothing to do, they will just receive some of the stake regularly. Not all the stake: one part is used for the HyperBank. Yes, this means that by outsourcing the management of their money, they will earn less - but it also means they don't have to care about anything. Here, "confidence" leads to "simplicity".

And the highlight of this post...

HYP/XUSD
Third, in these times of uncertainty, a quick win is particularly appreciated. That is why I am very excited to announce that some hours ago, Poloniex agreed to open a HYP/XUSD market! It has two uses:

• first, to show anyone the "real" (read: fiat, here dollars) price of HyperStake. We tend to forget it, but as cryptocurrencies widen their audiences, less and less people (percentage-wise) are enclined to think exclusively in terms of Bitcoins.
• second and most importantly: in a market both bearish and increasing, a no-nonsense "good old dollars" every ten days will appeal to an ever-larger segment of the population. Cashing out. As CrazyLoaf and MobyDick said independantly: "Stake and Cash". No-nonsense, raw dollars. With a XUSD market, you can do just this. You don't even need to register your ID at Poloniex or something. Straight to your credit card. How fun is that!

Even this is just the beginning. Little by little, a big picture is getting drawn.

As you can see, I keep asking for more people, because this is really it. HyperStake will succeed if we have enough manpower for it. Come join in, you are working at securing your investement, remember that!

[David Latapie]

Oftentimes, whales are hated because they can kill the market by dumping. This is still true for HyperStake (although it never damaged the market yet), but I believe this is much less of an issue for PoS than PoW.
Reason? With PoW, when you sell your coins, you leave your mining power intact (or maybe even more powerful, since with price drops, competing miners go mining something else, leaving more coins for you).
With PoS this is a completely different thing. When you sell you coins, you also sell your mining power and thus give the others more coins.
For this reason, I believe the fear of dumpers is much less of an issue in PoS. Except if the majority of stakers does not realise what they lose (or most of them are skilful dumpers but I would be very surprised about this one).

Opinion?

[iantunc]

Everyone of us has probably noticed a number of pumps and dumps (point 3 on the illustration) that occurred this week. They wasn't harmful, as they didn't brake the support line (point 1) of the uptrand. Even more, they were useful as they gave us rather massive volume and a top list position. But there is a little catch. If a newbie investor will follow the price movement (in other words, will try himself as a trader) and climb those giant candles, he will end up with a loss and disappointment. Probably it will be his own fault, but.. To avoid it, it is recommended to use Bollinger Bands indicator (blue lines on the picture; the average (point 1) here is a SMA (simple moving average) with a period of 50). It's upper and lower bands (point 2) show price deviation from the mean, or average (point 1). When the price crosses the upper band, it is the sign of a pump and dump. Trade with caution.
I got some medical conditions (a fox bite), so for a few days I will work less and will be unable to stay in the process, but I'll dedicate this time to learning.

[David Latapie]

Thanks for this very clear explanation! Usually, I don't get the Bollinger, now I do better.

[aigeezer]

Oftentimes, whales are hated because they can kill the market by dumping. This is still true for HyperStake (although it never damaged the market yet), but I believe this is much less of an issue for PoS than PoW.
Reason? With PoW, when you sell your coins, you leave your mining power intact (or maybe even more powerful, since with price drops, competing miners go mining something else, leaving more coins for you).
With PoS this is a completely different thing. When you sell you coins, you also sell your mining power and thus give the others more coins.
For this reason, I believe the fear of dumpers is much less of an issue in PoS. Except if the majority of stakers does not realise what they lose (or most of them are skilful dumpers but I would be very surprised about this one).

Opinion?

I agree with your observations, so I will come at the issues from a different angle.

In fiat-world, from time to time, and for no obvious reason except in hindsight, "the herd spooks" - everyone rushes to take their money out of banks "before the collapse", thus causing the collapse.
PoS has the potential for similar irrational "bank run" behaviour.

PoS has strong rational support for its structure but often people do not act rationally. Stakers, by definition, do not dump, but stakers are people first and stakers second. Both pumpers and dumpers try to spark irrational trends. Sometimes they succeed.

Do I like PoS-world better than fiat-world? Yes, absolutely. Will it be a smooth rational gentle climb? Probably not. Your hypothetical - "if the majority of stakers does not realise what they lose" will be true from time to time.

Perhaps the algos could be tweaked to make it ever more obvious that hodling is the thing to do whenever a mini-dump is detected. I don't know the extent to which rational interventions can deflect irrational trends. The danger is always in the perception - the perception that the last hodler standing has a huge bag of - nothing useful. This leads me to the conclusion that the optimal perception must be that HYP is always useful to exchange for goods and services. Managing that perception, and therefore its associated reality, is the challenge for all crypto (and indeed for fiat or metals).

tl;dr Can I pay for that Lamborghini with HYP?

[forbesmining]

"put the $10k in HYP and, if price/demand remains table, sell $6k in stake earnings."

If only one person tried to put $10k (26 BTC) in HYP, the price would go to 10,000+ sat immediately.
I love the idea of HYP, and managed to assemble a six-figure amount just before the current price run-up.
But there is not enough supply for very many investors trying to make several thousand dollars a month in
"income" from something like this. Although I'd love to be wrong about this!

[David Latapie]

Very insightful remark, aigeezer! I do not know if the algorithm could be tweaked and if would even be desirable. We plan to have OneBigHardFork in some month to implement everything that requires a hardfork at once, to minimize the amount of work for exchange and all. If we integrate such a tweak, that would be at that moment.

Regarding merchant adoption as a solution, this is worth considering. So far, we did not place much emphasis in this, because "experiment" and "merchant adoption" do not mix well; merchant adoption require an amount of "seriousness" that might be more than what we want, but this can change - merchant adoption can be viewed as an experiment too.

On a sidenote: similar to the Godwin point, the moment when a discussion is over because someone mentionned Hitler, I'd like to propose the "Lambo point". When people start to mention Lambos, a currency is threatened, because people live in delusions. Of course, this was a joke from you, but so is it to everyone - but as Goëring (or Himmler) mentionned it, repeat something long enough and it will become reality - read: people will take it seriously. Thus, reaching the Lambo point should make us cautious.

Rationality is overrated among most economists. We're are not creatures of pure logic, which annoys a lot of rationalists who have a hard time understanding why their perfectly valid theories do not work in real life.

On this intersection of finance and psychology, I encourage you to read this very informative essay on neurofinance
Breaking the Cycle of Investment Regret (also available in French). Eye opening.

It seems that not only are people far less rational in their decision making than economic theory assumes, but left to their own devices, many people also consistently repeat mistakes over and over again, even when the error has been pointed out.

" Reason: the amygdala, which overrides the neocortex. Solution according to some: meditation (or moral enhancement, if you're a transhumanist).

On a similar note, there is this article brought to my attention by DustOff in the Poloniex Trollbox: "Does 'free will' stem from brain noise?" This article hints that most decisions we make are unconsious and we rationalize them after the actual choice is made, giving us illusion that we took concious decision (which is similar to, albeit different from, cognitive dissonance and confirmation bias, which by the way are rampant in Cryptoland and source of a lot of people bagholding after a dump).

On an unrelated and somewhat amusing note, but still instructive for others: since yesterday, l felt like if I did not stake any block. No small non-round number in my new block, so I assumed nothing staked. I was starting to panick, especially after seeing minting actually occuring in the transaction window. See, my blocks are 4000 3900 3800 3700... down to 2500. (I later realised I did not have any 2600, more on this later) Then I realised one thing: my initial blocks are 4000 and I hit the max reward (1000). When block stakes, it gets splitted in two equal parts, so 4000+1000 (max reward) is 5000 or... two times 2500.
So I did stake but did not notice it!

Below, the green frame denotes the consolidated blocks I created ma,ually and the blue frame denotes the "natural" blocks, where I believe nothing happend whilst it just happened naturally. I'll call this the "block illusion".
So this was an illusion, but a convincing one. It may happen to you too.


forbesmining: I expect volume to come with time. Volume is steadily growing and we are working on some marketing stuff to increase audience (see "HYP for everyone").

[presstab]

On a sidenote: similar to the Godwin point, the moment when a discussion is over because someone mentionned Hitler, I'd like to propose the "Lambo point". When people start to mention Lambos, a currency is threatened, because people live in delusions. Of course, this was a joke from you, but so is it to everyone - but as Goëring (or Himmler) mentionned it, repeat something long enough and it will become reality - read: people will take it seriously. Thus, reaching the Lambo point should make us cautious.

I personally don't find anything wrong with the occasional HYP to the m000n type of joke. It is when the threads are bogged down by these comments that it becomes a problem. In my mind a healthy optimistic sarcastic joke about price can be healthy.

[David Latapie]

I'm just concerned that by keep repeating it, it starts to be considered a given. Resting on laurels and all. But I'm French, and French are known to be judgemental (althoug waxo would disagree)
Crazyloaf, I mentionned this on my mail to Bter: contrary to Doge, we have some serious technology behind us.

[forbesmining]

I see high PoS as something that, as more ppl understand it, they will invest because, the yields are higher than anything you can PoW mine.
And I hope I'm wrong on this, but a great influx of investors can only up the price, and eventually undo the entire experiment. I will enjoy the ride while it's here 

[aigeezer]

I'm just concerned that by keep repeating it, it starts to be considered a given. Resting on laurels and all. But I'm French, and French are known to be judgemental (althoug waxo would disagree)
Crazyloaf, I mentionned this on my mail to Bter: contrary to Doge, we have some serious technology behind us.

I don't dispute the effects of repetition. It is one of the unavoidable side-effects of natural language, which is not static (despite the best efforts of entities like l'académie française). Whenever a meme gets well-known, it gets exploited and distorted by various interested parties until eventually it changes its meaning completely. The word drab used to mean prostitute, of all things. So, imho, it is tilting at windmills to enforce lexical usage. That said, the Lambo joke is pretty stale by now. You won't see it from me again.         

[David Latapie]

(the title is unrelated to the supervillain of the same name)
Things are moving up way too fast.

Not so long ago, HYP was #2 or better in volume on all markets at Poloniex


Today, it reached marketcap position #38


And position #23 on coingecko. Notice how we still have a lot of potential in comunity and even more in public interest


Diff reached 1.5.


Price ATH

But the coin hits the max payout wall of 960,000/day around Dec 1st in 6 weeks.

On a less "stormy" side:

I am adding this tool to next wallet release in order to help people decide what block size to use

Great quote by presstab:

HYP is advanced. Fun, but advanced. I like to think of it in term of how Andreas described bitcoin to the Canadian senate, comparing bitcoin today to the internet in 1992.  Solid technology and protocol, but not easily usable by the mainstream yet.

That's the difference between Dogecoin and HyperStake. Both are meant for fun at first (and garnered an important and devoted community), but HyperStake came with a technological differenciator that Doge did not have (and was not mean to have anyway, that was not the point - and the random bonus doesn't count).

We are doing our best to make HyperStake even easier to. use optimally. The more we are widening the adoption, the more it is important to provide a seemless experience, which we do not provide yet despite our best efforts.

By the way, Coin Control will be renamed to make it more explicit and more exclusive to HyperStake. I will let presstab announce the new name (that I already like).

Oh! And, in the context of HypBerry, Lieutenant Commander Waxo will offer a Raspberry to one lucky person. Details are not public yet.

[mafort1469]

I agree Crazy those things are all well and good, but those things cannot happen at a good pace if there are the current hurdles in place just to buy Hyperstake. By this I mean what really needs to happen is that we need to create a website that takes USD for Hyperstake. A coinbase so to speak for HYP. A direct conversion. Eliminate bitcoin altogether. If this happens, not only will HYP be the first to be a standalone altcoin (hate that term) but will show the world that bitcoin is no longer the bar on which everything is set. HYP will become its own entity and thus growth will explode. Let's somehow figure this out and make it happen. A leader always wins in the end.

[iantunc]

What do you think, guys, do we need some typography redesign? Probably we could find an unusual or just released typeface, for example:



We can use it with our coin image.

[David Latapie]

We have more ideas than abilities for the moments. I said before that I like to kill several birds with one stone; I also like to avoid reinventing the wheel.

I would like we focus on working in tandem with other coin when it will makes us grow stronger. Here are the one I identified:

• Mintcoin: charity with Mintcoin Fund
• Noblecoin: marketplace
• Maieuticoin: hardware wallet
• Qibuck: multipool

Opinions?

[iantunc]

I think we need to develop a catalogue of our potential users, so-called customer portrait, with their faces, average backgrounds, life priorities and values etc. Then we will see who do we aim for. This coin needs marketing. If we want merchants to notice us, we need to have a production form ASAP. Otherwise we will stay a coin on the development shelf forever (and probably will be outcompeted). There were some associations in Polo trollbox.

[xwtfbobx]

very informative, very fun.  now i must pressure waxo about this pi... if i have to reflow it one more time i am throwing it out the window

[iantunc]

very informative, very fun.  now i must pressure waxo about this pi... if i have to reflow it one more time i am throwing it out the window

We don't try to stop nonbelievers and dumpers. It's your decision. Please, post your emotions in the ANN thread.