CannabisCoin [CANN][X11][Official] Developments & Discussions

[corather]

I haven't been following too closely in this thread - but has anyone suggested a change to POS from POW?
Mining rewards halving to a quite low amount will PROBABLY mean miners leaving the network, to the detriment of the coin?
A POS reward of 2 - 3% would encourage many to stake, there is enough of a distribution to ensure network health.

Just a thought - and sorry if this has already been brought up, too much to read through 

Freaking weird, I just had the same thought as I was syncing my CANN Qt back up after 6 weeks.  Devs, definitely something to consider.  Go green. 

You could even implement something like Turbo Stake (on a smaller scale) which will encourage network growth and security.

Hi Guys

Maintaining sufficient hash rate for network security is a topic covered frequently, of course. Naturally the mechanics of how to do so is also discussed.

Mining reward is composed of two elements, transaction fees and direct subsidy, which halves every 100K blocks.

Currently transaction fees are insufficient incentive to keep miners hashing away, keeping the block chain moving and secure. Miners are therefore dependent on subsidy and/or expectation of future value.

What has happened to CannabisCoin's exchange rate since the last halving? As we can see below exchange price has risen by about fifty percent, so not enough to offset the halving subsidy (yet).

What could change that?

Obviously it is early days yet for the Yes We CANN movement and unsubsidized transaction fees are unlikely to be sufficient mining incentive for some time - that would need a lot of CANNdy sales daily.

Price rise then. Is it likely that the exchange price will rise, especially in view of possible test crop releases from the various grow sites? That does seem likely, meaning that mining reward will likely rise justifying miners' faith in future value as incentive for stockpiling current rewards and encouraging more mining effort.

What of the alternatives such as Proof of Stake (PoS) rather than Proof of Work (PoW)?

There are positives and negatives to any method. After a year of distribution the rate of new coin minting is about to fall to roughly the equivalent of 1% annual inflation, halving every seven weeks or so thereafter.

Reducing the rate of inflation reduces the dilution rate of current holders' stake. If we were now to turn around and increase the inflation rate again to the 2-3% suggested for PoS we'd be diluting the value of the assets of those who have already acquired their CANN stake. You realize that is definitely an unpopular thing to do as it disadvantages early supporters who mined and/or made their purchases with the expectation of declining rate of coin supply inflation.

On the other hand we have some room to maneuver since part of the intended target of 100,000,000 total coin supply has been "burned" (removed from the block chain) so tweaking the subsidy rate to add say, 8,000,000 coins over the next five years or so would still technically be within described parameters when CannabisCoin switched to the X11 algorithm a year ago.

There are other options besides PoS. We could simply fix the subsidy rate rather than allowing it to continue halving. At what annual inflation rate should that be done though? I hesitate to ask who has crystal balls but some future knowledge would be helpful. We could also change to multi-algorithm and allow ASICs to keep the hash rate high. At what exchange rate and at what volume of transactions does mining subsidy become completely unnecessary? How strongly will the market react to releases of CANNdy into the supply chain? Should we wait to see how the market reacts before tampering with the block chain at all?

Making certain that any changes are fair to all is a challenging task.

Is there a single "best" option? That's highly unlikely but rest assured block chain health is monitored and possible actions periodically discussed. I can tell you that PoS is not presently a favored option and that any change will be the result of very careful consideration. Any change must advantage everyone generally and no one particularly.

Honestly, there's no need to tamper with the algo. If CANN is properly adopted by industry, there will be a price rise sufficient to keep warehouses full of GPU's churning away. It worked that way for Bitcoin, and it can work that way for CANN. I for one would rent a warehouse and build rigs for a living if cann coin would support it. Winners get the hashing power, and there's no reason other cannabis coins won't succeed and also grab market share. It's not exactly a race. Each coin caters to a sector, so whenever it happens, the hashing will rise to the needs of the network.

[1714213569]

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[1714213569]

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[ASICrefugee]

I haven't been following too closely in this thread - but has anyone suggested a change to POS from POW?
Mining rewards halving to a quite low amount will PROBABLY mean miners leaving the network, to the detriment of the coin?
A POS reward of 2 - 3% would encourage many to stake, there is enough of a distribution to ensure network health.

Just a thought - and sorry if this has already been brought up, too much to read through 

Freaking weird, I just had the same thought as I was syncing my CANN Qt back up after 6 weeks.  Devs, definitely something to consider.  Go green. 

You could even implement something like Turbo Stake (on a smaller scale) which will encourage network growth and security.

Hi Guys

Maintaining sufficient hash rate for network security is a topic covered frequently, of course. Naturally the mechanics of how to do so is also discussed.

Mining reward is composed of two elements, transaction fees and direct subsidy, which halves every 100K blocks.

Currently transaction fees are insufficient incentive to keep miners hashing away, keeping the block chain moving and secure. Miners are therefore dependent on subsidy and/or expectation of future value.

What has happened to CannabisCoin's exchange rate since the last halving? As we can see below exchange price has risen by about fifty percent, so not enough to offset the halving subsidy (yet).

What could change that?

Obviously it is early days yet for the Yes We CANN movement and unsubsidized transaction fees are unlikely to be sufficient mining incentive for some time - that would need a lot of CANNdy sales daily.

Price rise then. Is it likely that the exchange price will rise, especially in view of possible test crop releases from the various grow sites? That does seem likely, meaning that mining reward will likely rise justifying miners' faith in future value as incentive for stockpiling current rewards and encouraging more mining effort.

What of the alternatives such as Proof of Stake (PoS) rather than Proof of Work (PoW)?

There are positives and negatives to any method. After a year of distribution the rate of new coin minting is about to fall to roughly the equivalent of 1% annual inflation, halving every seven weeks or so thereafter.

Reducing the rate of inflation reduces the dilution rate of current holders' stake. If we were now to turn around and increase the inflation rate again to the 2-3% suggested for PoS we'd be diluting the value of the assets of those who have already acquired their CANN stake. You realize that is definitely an unpopular thing to do as it disadvantages early supporters who mined and/or made their purchases with the expectation of declining rate of coin supply inflation.

On the other hand we have some room to maneuver since part of the intended target of 100,000,000 total coin supply has been "burned" (removed from the block chain) so tweaking the subsidy rate to add say, 8,000,000 coins over the next five years or so would still technically be within described parameters when CannabisCoin switched to the X11 algorithm a year ago.

There are other options besides PoS. We could simply fix the subsidy rate rather than allowing it to continue halving. At what annual inflation rate should that be done though? I hesitate to ask who has crystal balls but some future knowledge would be helpful. We could also change to multi-algorithm and allow ASICs to keep the hash rate high. At what exchange rate and at what volume of transactions does mining subsidy become completely unnecessary? How strongly will the market react to releases of CANNdy into the supply chain? Should we wait to see how the market reacts before tampering with the block chain at all?

Making certain that any changes are fair to all is a challenging task.

Is there a single "best" option? That's highly unlikely but rest assured block chain health is monitored and possible actions periodically discussed. I can tell you that PoS is not presently a favored option and that any change will be the result of very careful consideration. Any change must advantage everyone generally and no one particularly.

Thanks for the reassurance that smarter minds than mine are on the issue

[tokeweed]

How's Canndy?  Any good...?  Maybe you should try to get featured in High Times Magazine when your strain is ready. 

[zoata87]

How's Canndy?  Any good...?  Maybe you should try to get featured in High Times Magazine when your strain is ready. 

some new photos would be nice. any dates when canndy will be ready?

[Sizerpoint]

If you didn't know yet, CannabisCoin can be traded decentralized on the Horizon platform.

More information about the HZxchange project here: https://bitcointalk.org/index.php?topic=1065680.0

Thats pretty cool a decentralized exchange

[tokeweed]

Is the Cann crew interested in expanding the backing of Cannabiscoins?  Maybe you guys can back it with X amount of Hemp seed oil per coin too?

Lot's of possibilites...

[tokeweed]

Where's the CANN guy?  Have a couple of questions... 

[B4zz4]

Where's the CANN guy?  Have a couple of questions... 

G'day toke, DeltaNine is visiting Colorado this week. Is there something anyone else can help you with?

[tokeweed]

Where's the CANN guy?  Have a couple of questions...  

G'day toke, DeltaNine is visiting Colorado this week. Is there something anyone else can help you with?

Oh hi.  Just a couple of questions posted to get a discussion going here...

How's Canndy?  Any good...?  Are the plants' growth good?  Maybe you should try to get featured in High Times Magazine when your strain is ready.  

and

Is the Cann crew interested in expanding the backing of Cannabiscoins?  Maybe you guys can back it with X amount of Hemp seed oil per coin too?

Thanks.

edit:  Sorry about the first question if it seems offensive...  Just asking if the plants' growth have been ok. 

[B4zz4]

Where's the CANN guy?  Have a couple of questions...  

G'day toke, DeltaNine is visiting Colorado this week. Is there something anyone else can help you with?

Oh hi.  Just a couple of questions posted to get a discussion going here...

How's Canndy?  Any good...?  Are the plants' growth good?  Maybe you should try to get featured in High Times Magazine when your strain is ready.  

and

Is the Cann crew interested in expanding the backing of Cannabiscoins?  Maybe you guys can back it with X amount of Hemp seed oil per coin too?

Thanks.

edit:  Sorry about the first question if it seems offensive...  Just asking if the plants' growth have been ok. 

I'm in Australia and not involved with the grows at all. I haven't heard of any difficulties though.

For information as it is released you should probably follow twitter: https://twitter.com/CannabisCoins - D9 announced outdoor grow prep there a month ago and three weeks before that that he was going over state requirements with partners for a dispensary in Phoenix. You also pick up snippets of news on irc.freenode.net #cann, IIRC that's where he announced a small test crop harvest, selection of "mother" plants and the installation of a breeding "hotel", along with trips seeking more land, meetings with a Denver-based affiliate (that was probably on twitter too) and other things.

As far as offering oils etc., while dispensaries may add concentrates to the CANNdy inventory DeltaNine and recruited cultivators are strictly growers who do not offer concentrates at all. It is possible that they might get into processing later but at present all effort is going into establishing licensed grows and developing strains suitable for the CANNdy inventory.

Hope that helps

Cheers from the land down-under.

[DragoStefan]

Why is that copy of cann, maryjanecoin so priced up high... and we're so low? I know the total coins are different numbers 5 times less coins but cann it's more real... Didn't read that thread but I guess that they've not started growin' yet...
Ps : Some cann crops are already finished, am I wrong?

[YESWECANN]

Why is that copy of cann, maryjanecoin so priced up high... and we're so low? I know the total coins are different numbers 5 times less coins but cann it's more real... Didn't read that thread but I guess that they've not started growin' yet...
Ps : Some cann crops are already finished, am I wrong?

Hi! IMO Not sure but from sound and looks of it appears he has either been terminated by the dispensary or there is a disagreement.  In other words, he seems to have effectively burned his bridges with the peaceful choice dispensary and there is no longer acceptance of Maryj or relationship(FACT)  DYOR on it and my opinions are my own thoughts.
-H

[YESWECANN]

D9 and the local team are heading to Colorado this week to a family ranch and will be conducting both CANN and personal business.  Follow on twitter for latest. -H

-CANN

[Piston Honda]

D9 and the local team are heading to Colorado this week to a family ranch and will be conducting both CANN and personal business.  Follow on twitter for latest. -H

-CANN

very good to hear.
things are rolling along.
seems D9 has TONS planned and ongoing behind the scenes.  good thing too given the psycho way ppl want to go after this coin with hate, anti-success tactics and FUD.

[byob]

I am having trouble withdrawing my funds from zero fee pool.

Is anyone else having this trouble?

Does anyone know how to get a hold of a moderator over there?

[tokeweed]

Hey guys.  Do you have plans to revamp cannabiscoins.net?  I think it would help a lot how people perceive the project if your website looks more professional.

[mrbigmugs]

I am having trouble withdrawing my funds from zero fee pool.

Is anyone else having this trouble?

Does anyone know how to get a hold of a moderator over there?

I've had no problems .

[mrbigmugs]

Hey guys.  Do you have plans to revamp cannabiscoins.net?  I think it would help a lot how people perceive the project if your website looks more professional.

I tend to agree with tokeweed , I think the site could use a little polishing up and make it cooler looking and more modern. I'm willing to contribute towards a bounty if one is needed.

[kprell40]

   

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[matrix zion]

I don't think last drop was manipulation, just someone who was holding a good amount of cann dumped his or her coins. Perhaps it was because the lack of consistent news by D9 and the false hype around 4/20.