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tx42
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October 09, 2014, 05:39:06 PM |
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Would these be reasonably accurate maths for someone like me with 5 coins:
Day 0 5
Day 1 18.45
Day 2 68.0805
Day 3 251.217045
Day 4 926.9908961
Day 5 3420.596406
Day 6 12622.00074
Day 7 46575.18273
That's what I get. |
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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tx42
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October 09, 2014, 05:39:44 PM |
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I for one think this is a bit cool. So many factors, so many different ways to "play".  This has to be the most fun altcoin i have seen. Great work. Seriously. You don't have to be rich to win here, just have a smart strategy. Where else is this true in life except maybe chess? Yeah, I have compared this to chess on so many occasions. I love it. To be good at chess, you need to play 3 moves ahead, for this, it helps to try and think about 5 moves ahead  And it would be a shame and probably unethical to purposefully change the rules in the middle of it. |
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Koontas
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October 09, 2014, 05:42:45 PM |
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And it would be a shame and probably unethical to purposefully change the rules in the middle of it.
Agreed, I encourage the dev to let things go as they are. |
Don't trust any exchange!
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Wheezy-
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October 09, 2014, 05:46:34 PM |
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I agree as well, though not everyone understands POS equally, and so didn't even know some of the rules. Hence why I brought it up for discussion.
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Wheezy-
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October 09, 2014, 05:49:19 PM |
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Also keep in mind, for him to get 26 seeds when he did, spent alot for them. His was likely the 10 btc buy up to 1 btc/coin, so he paysd an average of 0.25 to get those coins that early. Triple the current market price.
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cryptzo (OP)
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October 09, 2014, 05:51:58 PM |
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The high rollers I'm sure don't want this disclosed, but take a look and the block explorer and rich list. Most of the top invested have not staked any coins. I asked myself why.
Ask yourself why.
As coins age, they collect weight, this weight increases chances to stake, but also how much your stake is actually worth. If it's always 1% it doesn't matter. But we're about to hit 269%.
But what happens when someone unlocks their wallet with 5 days of weight with 26 seeds on block 10101? How much will that added weight affect their day one payout?
The person with 26 seeds is doing it. And the reason is that he will significantly increase his day 1 payout, and hence his total share of the coin.
Everyone should keep that in mind going forward, some individuals may massively increase their coin share through the growth. Just by how much, I don't know.
... yes and no and I'm mortified. Weight plays no factor in the number of coins you get, but age does. If your coins are 2 days old, you get paid 2 days worth of interest. If your coins are three days old, you get three days worth of interest. This is all well and good, because if you miss a day, you lose all the interest on the coins you would have gotten if you'd staked each day, or compound interest. Unfortunately I hadn't accounted for the fact that nobody would care about compound interest during the first week because the interest was so low. There's no special code that goes back and gives you the interest at the rate it was on the the days you missed, all interest is calculated at the current rate, and I completely missed this in development. Age is also not limited to 24 hour periods, and that I've always been aware of. If it takes you 36 hours to stake on day 1 of growth, you'll actually get 1.5 * 2.69, but you also lose out on 12 hours you could have staked in the end, so this balances out. We're not going to make day 7 for what it's worth. At the current pace,growth will begin in roughly 24 hours. And that's much, much earlier than I predicted, so the weight down-stepping that I coded in will actually happen too late to compensate for the faster blocks that happen because of the effect of rapid growth, so growth wont last 7 days either. I feel awful about this, as it's a huge factor I hadn't considered. A couple of people brought it to my attention a couple of days in, and I had to think long and hard about it before ultimately having to decide that people with a keen eye would have seen this since the ico was first announced. It's smack dab in the middles of the official specs. 7 days max age. To fix the problem, I'd have to reduce that, or specifically ignore it during growth - which would also hurt everyone that loses a day over the course of the week because their coins couldn't stake fast enough. So I told the couple of people that mentioned it to me that I would leave it up to them whether or not they wanted to say anything. At the very least I can say that there are ways to trump this that I have been completely aware of the whole time. I've always known that the growth period was going to be a bloodbath, because this is a sociological experiment as much as a technological one, where literally everything has an effect on the ultimate coin base. Everything. I just greatly underestimated just how many factors are at play here, and I completely missed the implications of this pre-growth holding tactic - which increased the amount of possible coins any one person could possibly stake. I really am curious if cryptzo is one of those on the richlist that hasnt staked....? I'm nowhere near the top 10. Or top 50. I have my own strategy for getting coins, and my strategy involves helping the eventual value of the coin as much as I can. |
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travis72682
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October 09, 2014, 05:56:17 PM |
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And it would be a shame and probably unethical to purposefully change the rules in the middle of it.
Agreed, I encourage the dev to let things go as they are. I bet you guys have been taking advantage of it lol.. It doesnt bother me THAT much, unless 10 addresses end up with 80% of the coins as that would pretty much kill the coin. |
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forbesmining
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October 09, 2014, 05:59:34 PM |
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This coin has been huge fun, and the real fireworks are yet to start  I'll bet this type of coin will be copied again and again, and I'll keep playing. |
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tx42
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October 09, 2014, 06:04:59 PM |
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And it would be a shame and probably unethical to purposefully change the rules in the middle of it.
Agreed, I encourage the dev to let things go as they are. I bet you guys have been taking advantage of it lol.. It doesnt bother me THAT much, unless 10 addresses end up with 80% of the coins as that would pretty much kill the coin. Actually, you want the coins in smart and strong hands. |
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scattercoin
Member
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Activity: 70
Merit: 10
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October 09, 2014, 06:06:44 PM |
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cryptzo (OP)
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October 09, 2014, 06:07:18 PM |
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And it would be a shame and probably unethical to purposefully change the rules in the middle of it.
Agreed, I encourage the dev to let things go as they are. I made that decision days ago. It's something that could have been counted on right from the launch of the ico, since it's in black and white in the coin specs. I just hadn't considered it. If I had, I might have pointed it out during the ico to generate more interest in the ico itself... since if you bought a coin during the ico, and held the whole time, it'd be 5x more valuable than a coin bought right now. |
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cryptzo (OP)
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October 09, 2014, 06:20:28 PM |
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And it would be a shame and probably unethical to purposefully change the rules in the middle of it.
Agreed, I encourage the dev to let things go as they are. I bet you guys have been taking advantage of it lol.. It doesnt bother me THAT much, unless 10 addresses end up with 80% of the coins as that would pretty much kill the coin. Actually, you want the coins in smart and strong hands. If you say so... I would be hesitant to buy into a coin where a few guys have all the coins as if ONE decides to cash out the price will get hammered hard... We all buy Bitcoin. And while it's more than a few people that have 'all' the coins, everyone knows what would happen if someone suddenly dropped 100k btc on the market. The true value of any coin is how much we value the coin ourselves. If the market value exceeds what we value the coin at, then we'll just trade out. If the market value is less than what we value the coin at, we buy in. |
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tx42
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October 09, 2014, 06:34:17 PM |
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Actually, you want the coins in smart and strong hands.
If you say so... I would be hesitant to buy into a coin where a few guys have all the coins as if ONE decides to cash out the price will get hammered hard... Except that smart people don't cash out all at once. In fact, smart people never cash out. They take a very strong position in a coin then only trade with a small fraction of it. They are smart, so they have BTC laying around too. They use the BTC to support the price when it goes down, buying cheap coins. They sell their trading coins (a small part of their total) on spikes, understandably, and re-buy lower. All told it stabilizes the coin value and increases their holdings. Long term trends are determined by the quality of the dev, not what big holders do. If you think a dev is good, buy the coin early and hold. No games or trading are needed. The only trick is in identifying good devs. |
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coinking
Legendary
Offline
Activity: 927
Merit: 1000
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October 09, 2014, 06:36:43 PM |
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I'm a little unclear as to what the point of a strategic approach to moving coins around is.. can someone explain why I would move my coins around during the %269 staking period. Thanks in advance!
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chocobo
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October 09, 2014, 06:46:17 PM |
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So why does it say check out pinkcoin in the OP?
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fayoling
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October 09, 2014, 06:46:50 PM |
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Actually, you want the coins in smart and strong hands.
If you say so... I would be hesitant to buy into a coin where a few guys have all the coins as if ONE decides to cash out the price will get hammered hard... Except that smart people don't cash out all at once. In fact, smart people never cash out. They take a very strong position in a coin then only trade with a small fraction of it. They are smart, so they have BTC laying around too. They use the BTC to support the price when it goes down, buying cheap coins. They sell their trading coins (a small part of their total) on spikes, understandably, and re-buy lower. All told it stabilizes the coin value and increases their holdings. Long term trends are determined by the quality of the dev, not what big holders do. If you think a dev is good, buy the coin early and hold. No games or trading are needed. The only trick is in identifying good devs. "Who do you listen to?" I'm listening to this guy ^ |
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travis72682
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October 09, 2014, 06:48:26 PM |
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I'm a little unclear as to what the point of a strategic approach to moving coins around is.. can someone explain why I would move my coins around during the %269 staking period. Thanks in advance!
to make my coins more valuable is the only reason I see There was talk about moving them before the growth period, but I doubt you have 24 hours for coins to mature so I wouldnt |
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fayoling
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October 09, 2014, 06:49:08 PM |
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So why does it say check out pinkcoin in the OP?
Cryptzo approached us about building his ICO system and managing the ICO for him. We put Cryptzo through the ringer to make sure he was both reliable, and capable of handling this venture before we accepted. As tx42 mentioned, it is all about finding and supporting the right devs. The Pinkcoin team went out on a limb here putting a lot of faith in Cryptzo, and we do not have a single regret. |
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travis72682
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October 09, 2014, 06:49:18 PM |
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Actually, you want the coins in smart and strong hands.
If you say so... I would be hesitant to buy into a coin where a few guys have all the coins as if ONE decides to cash out the price will get hammered hard... Except that smart people don't cash out all at once. In fact, smart people never cash out. They take a very strong position in a coin then only trade with a small fraction of it. They are smart, so they have BTC laying around too. They use the BTC to support the price when it goes down, buying cheap coins. They sell their trading coins (a small part of their total) on spikes, understandably, and re-buy lower. All told it stabilizes the coin value and increases their holdings. Long term trends are determined by the quality of the dev, not what big holders do. If you think a dev is good, buy the coin early and hold. No games or trading are needed. The only trick is in identifying good devs. "Who do you listen to?" I'm listening to this guy ^ I honestly hope you guys are right |
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boxxa
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October 09, 2014, 06:52:16 PM |
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Actually, you want the coins in smart and strong hands.
If you say so... I would be hesitant to buy into a coin where a few guys have all the coins as if ONE decides to cash out the price will get hammered hard... Except that smart people don't cash out all at once. In fact, smart people never cash out. They take a very strong position in a coin then only trade with a small fraction of it. They are smart, so they have BTC laying around too. They use the BTC to support the price when it goes down, buying cheap coins. They sell their trading coins (a small part of their total) on spikes, understandably, and re-buy lower. All told it stabilizes the coin value and increases their holdings. Long term trends are determined by the quality of the dev, not what big holders do. If you think a dev is good, buy the coin early and hold. No games or trading are needed. The only trick is in identifying good devs. This is altcoins so quality devs really don't mean anything. If there is a chance to make a profit, people will buy and dump as much as they can. Look at ANN threads full of promises and goals that people buy into and just get the surge. Real coins that have something innovative just die out and people get bored so price eventually drops. Sad but if people invested in coins like they would a company and hold, there would be a better return rate on the good coins. What is the lifespan of a coin now in the altworld? 6 months? |
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