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danonthehill
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March 05, 2015, 12:45:30 PM |
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Remember the core principles of this coin is its advertising roadmap that will create demand if properly executed. Since it is going to be POS when fixed, the stake % must be such that there is incentive to stake, but not so much staking that the inflation escalates out of control That would impact the long term viability. The extreme percentages are or experiments and would not be suitable for the initial advertising roadmap.
The initial plan o the dev was to have 8% staking for 21 days and then 8% per year. This will probably lead to lots of action in the 21 days and then the speculators will leave. Without a demand for the coin by 21 days, the coin will unfortunately die. The stake % must be matched to the demand created by the advertising roadmap. While development etc. happens, staking must create demand and carry the coin. When advertising roadmap is implemented, the staking % plays a lesser role since the business plan will be implemented to create demand. You also do not want to create so many coins in circulation that he numbes become ridiculous.
The pros of a high stake percentage is that it will satisfy the speculators demand for quick profit. The cons of a high % is that inflation and money supply skyrockets exponentially causing economics problems.
The pros of a low % is that there will be fewer coins that increases its rarity. The cons is that few will be staking and more will be speculating or leaving the scene.
A balance has to be found. While the advertising roadmap is implemented staking can be in a mid range. When management is happy that the plan is implemented and working a fork can be done to lower the staking %. I would say that use the 8% per day (2920% per year) for 21 days that would bring the money supply up to 20,765,030 in all scenarios and then apply a max of 50% per year on top of that which will bring total money supply after year 1 at 33,254,189 . Anything above that becomes ridiculous. I will post money supply graphs later on to indicate how ridiculous a too high supply is after a while. After year one, if the advertising roadmap is implemented or earlier if it happens earlier, a hard fork can be done to bring down staking interest to 8% per year as per original specs. if the coin is not accepted and used as per the roadmap by this time with the resultant price, the coin will fail in anyways.
PS: I dont think that the people that vote for too high stake % realize the implications. They will after I post the projected money supply graphs and numbers.
I second this motion! |
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plast555
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March 05, 2015, 12:50:05 PM |
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Remember the core principles of this coin is its advertising roadmap that will create demand if properly executed. Since it is going to be POS when fixed, the stake % must be such that there is incentive to stake, but not so much staking that the inflation escalates out of control That would impact the long term viability. The extreme percentages are or experiments and would not be suitable for the initial advertising roadmap.
The initial plan o the dev was to have 8% staking for 21 days and then 8% per year. This will probably lead to lots of action in the 21 days and then the speculators will leave. Without a demand for the coin by 21 days, the coin will unfortunately die. The stake % must be matched to the demand created by the advertising roadmap. While development etc. happens, staking must create demand and carry the coin. When advertising roadmap is implemented, the staking % plays a lesser role since the business plan will be implemented to create demand. You also do not want to create so many coins in circulation that he numbes become ridiculous.
The pros of a high stake percentage is that it will satisfy the speculators demand for quick profit. The cons of a high % is that inflation and money supply skyrockets exponentially causing economics problems.
The pros of a low % is that there will be fewer coins that increases its rarity. The cons is that few will be staking and more will be speculating or leaving the scene.
A balance has to be found. While the advertising roadmap is implemented staking can be in a mid range. When management is happy that the plan is implemented and working a fork can be done to lower the staking %. I would say that use the 8% per day (2920% per year) for 21 days that would bring the money supply up to 20,765,030 in all scenarios and then apply a max of 50% per year on top of that which will bring total money supply after year 1 at 33,254,189 . Anything above that becomes ridiculous. I will post money supply graphs later on to indicate how ridiculous a too high supply is after a while. After year one, if the advertising roadmap is implemented or earlier if it happens earlier, a hard fork can be done to bring down staking interest to 8% per year as per original specs. if the coin is not accepted and used as per the roadmap by this time with the resultant price, the coin will fail in anyways.
PS: I dont think that the people that vote for too high stake % realize the implications. They will after I post the projected money supply graphs and numbers.
This is what I'm trying to explain all the time, but I can not express myself on English very well ! The problem is that with very high stake interest we will pass 1 bilion very fast, and will happened exactly that what you jc12345 explained here !!! Because of that, I was thinking to make some reasonable interest like 500%, because with 50% can happened without future developing, advertising people can left this coin, and with too high interest, can happened just low price, as we can see now on Balls, there are no more than 0.5 BTC of buying, the price just a few sat, so very fast will happened the same with this coin if we will going with high interest. If you ask me, I will then rather invest in original Balls who has the price already stable than in the new Balls, pay this price and then waiting dumps, and finally lost of investments. |
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Cobra
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March 05, 2015, 02:20:53 PM |
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I totally agree with jc12345 as well. What is the point of this coin if it is exactly like something else that already exists? I was drawn to this coin because of the prospect of ad integration, not some POS stake scheme that exists in other coins.
The question that hinges on all of this is really the original Dev/OP here and if he can or will follow through on this. He has not said much about any type of plan other than a beta in a few weeks. Does he still have the time/resources to see this through? He also said for him to even consider moving forward with this he needed 40k coins. No pre-mine in new chain so who knows if it would make it to that number through donations only. He has also not committed to doing anything with the ad system as originally planned.
I also thank spots for stepping up to the plate to save this and make it work but it really looks like the only type of thing that is trying to be saved is some type of value regardless of anything else or the original plan. I just doubt there will be any reason to prevent people from dumping any interest daily without the advertising plan. (like jc12345 said)
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vegasguy
Legendary
 Offline
Activity: 1610
Merit: 1003
"Yobit pump alert software" Link in my signature!
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March 05, 2015, 02:25:17 PM |
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Im with JC a moderate-high pos% like 500% and min stake time of 1 day min will keep inflation at bay.
Vegas
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I want to make sure everyone knows that I just released my software called "Yobit pump alert". THis is custom software that uses an algo to detect the start of a pump here on yobit, the second it starts. YOu can even filter the coins you see by price. Most pumps start less than 100 sats , so you can easily filter the cheap coins, so they are the only ones displayed  https://bitcointalk.org/index.php?topic=1945937.msg20241953#msg20241953 |
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jeffery_dahmer
Member
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Activity: 84
Merit: 10
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March 05, 2015, 02:45:59 PM |
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ok why is this discussion still going on? the poll will hopefully show whatever the majority of the community wants and thats should be it. shouldnt we be more concerned right now about moving the block chain and getting to block 16k sometime before xmas? and finding a way to either keep the advertising idea by the orig dev alive or moving forward with some other innovative plan to keep interest alive? it appears to me that the only concern here is how fast the dump is going to be when the exchanges open back up, if there is a good solid plan, you wont need to worry about it
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Still waiting, FrazzleNutz
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jc12345
Legendary
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Activity: 1638
Merit: 1013
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March 05, 2015, 03:20:02 PM |
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ok why is this discussion still going on? the poll will hopefully show whatever the majority of the community wants and thats should be it. shouldnt we be more concerned right now about moving the block chain and getting to block 16k sometime before xmas? and finding a way to either keep the advertising idea by the orig dev alive or moving forward with some other innovative plan to keep interest alive? it appears to me that the only concern here is how fast the dump is going to be when the exchanges open back up, if there is a good solid plan, you wont need to worry about it
Spots is sorting out the blockchain. The rest needs to make sure that the right decision is made regarding the future. It would also help if the original dev explained his plans because the existence/existence thereof plays a big role in the outcome. |
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Dirgantara
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March 05, 2015, 03:42:20 PM |
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If you wanna bring this coin under 100 sats then 10.000% pos reward is the perfect option.
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lestherat
Legendary
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Activity: 986
Merit: 1001
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March 05, 2015, 03:46:47 PM |
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Guys please leave your vote here Go VOTE: https://bitcointalk.org/index.php?topic=976349.0Right now only 4 members leave a vote, come on, only us we decide the future of this coin, please, only leave your vote for the stake rate you want. Thanks |
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MickGhee
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Activity: 1386
Merit: 1000
Fucker of "the system"
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March 05, 2015, 03:57:14 PM |
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Just move the chain
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Last night, while you were sleeping. I fucked the system!
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jc12345
Legendary
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Activity: 1638
Merit: 1013
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March 05, 2015, 04:07:12 PM |
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15Lemon714
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March 05, 2015, 04:12:16 PM |
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Here are the projected money supply graphs. I think the numbers talk for themselves. Too high stake is only for short term profit. If the original dev has no plans then the coin becomes just a speculative tool and then a high stake can just as well be chosen as it will before long be out of control.
The original dev has not confirmed he is going further with development and the chances are he will not, so we move to plan b and yes it is a traders coin but at least it will have buyers. Please just vote and leave it to that guys all this personal opinions are not helping anyone that is why we have a poll. |
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iGotSpots
Legendary
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Activity: 2548
Merit: 1054
CPU Web Mining 🕸️ on webmining.io
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March 05, 2015, 04:16:32 PM |
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Lol at people bashing high PoS without realizing how much money I've already made many, many people with it  Compounding is a tough concept to grasp, I can understand how many crypto minds couldn't do the two step math  Let me make something VERY CLEAR. THERE IS NO ORIGINAL DEV ANYMORE - He has sent me 3 PM's total the entire time, basically saying "take my coin" There is no advertising. There is no roadmap. Original plans are fucked. Stop being delusional |
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BTCvsALTCOINS
Newbie
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Activity: 8
Merit: 0
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March 05, 2015, 04:27:54 PM |
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Lol at people bashing high PoS without realizing how much money I've already made many, many people with it Compounding is a tough concept to grasp, I can understand how many crypto minds couldn't do the two step math Let me make something VERY CLEAR. THERE IS NO ORIGINAL DEV ANYMORE - He has sent me 3 PM's total the entire time, basically saying "take my coin" There is no advertising. There is no roadmap. Original plans are fucked. Stop being delusional I am behind you 100% if these guys do not want to be in it because of the high stake let me know i will buy your coins, i have seen all of his coins and all you lot are looking at is how much they are worth now which is stupid they have made their money back multiple times. Just trust the guy who is fixing this coin and leave the past in the past, you have confirmed no original dev lets go with the high please spots and close the poll chose a stake of your choice between the votes would be a good idea |
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iGotSpots
Legendary
Offline
Activity: 2548
Merit: 1054
CPU Web Mining 🕸️ on webmining.io
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March 05, 2015, 04:31:45 PM |
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Lol at people bashing high PoS without realizing how much money I've already made many, many people with it Compounding is a tough concept to grasp, I can understand how many crypto minds couldn't do the two step math Let me make something VERY CLEAR. THERE IS NO ORIGINAL DEV ANYMORE - He has sent me 3 PM's total the entire time, basically saying "take my coin" There is no advertising. There is no roadmap. Original plans are fucked. Stop being delusional I am behind you 100% if these guys do not want to be in it because of the high stake let me know i will buy your coins, i have seen all of his coins and all you lot are looking at is how much they are worth now which is stupid they have made their money back multiple times. Just trust the guy who is fixing this coin and leave the past in the past, you have confirmed no original dev lets go with the high please spots and close the poll chose a stake of your choice between the votes would be a good idea Well when it's one of my coins, I don't mind making informed decisions that I think are correct. In this case, it's totally up to you guys. The thing is, votes are votes. I will listen to the poll, regardless of my personal feelings. If you want this coin to be made your way, get more votes Pretty sure I'm the only one putting transactions into the network and mining, btw... |
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jc12345
Legendary
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Activity: 1638
Merit: 1013
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March 05, 2015, 04:32:39 PM |
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In the absense of any plans, lets make it high POS and lets make some money. |
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iGotSpots
Legendary
Offline
Activity: 2548
Merit: 1054
CPU Web Mining 🕸️ on webmining.io
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March 05, 2015, 04:37:48 PM |
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In the absense of any plans, lets make it high POS and lets make some money. I invited the original dev to do advertising several times with no response. Consider his idea dead at this point, and I have no interest in building another project like that from the ground up. This has already taken like 4 days away from my actual coins and work |
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Cobra
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March 05, 2015, 04:44:56 PM |
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In the absense of any plans, lets make it high POS and lets make some money. I invited the original dev to do advertising several times with no response. Consider his idea dead at this point, and I have no interest in building another project like that from the ground up. This has already taken like 4 days away from my actual coins and work Many of us did not know you have reached out to him like this already. Good to know. I guess his lack of consistent communication has been a little concerning from the start, not worth the risk to start down that path. I think everyone here trusts you to make the best decision and now it looks like high POS is the best option. |
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lestherat
Legendary
Offline
Activity: 986
Merit: 1001
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March 05, 2015, 04:48:23 PM |
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In the absense of any plans, lets make it high POS and lets make some money. I invited the original dev to do advertising several times with no response. Consider his idea dead at this point, and I have no interest in building another project like that from the ground up. This has already taken like 4 days away from my actual coins and work Hi iGotSpots, if the stake rate, depend only to you, what percent stake you´ll choose ? |
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Clminer
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March 05, 2015, 04:49:05 PM |
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Lol at people bashing high PoS without realizing how much money I've already made many, many people with it Compounding is a tough concept to grasp, I can understand how many crypto minds couldn't do the two step math Let me make something VERY CLEAR. THERE IS NO ORIGINAL DEV ANYMORE - He has sent me 3 PM's total the entire time, basically saying "take my coin" There is no advertising. There is no roadmap. Original plans are fucked. Stop being delusional I am behind you 100% if these guys do not want to be in it because of the high stake let me know i will buy your coins, i have seen all of his coins and all you lot are looking at is how much they are worth now which is stupid they have made their money back multiple times. Just trust the guy who is fixing this coin and leave the past in the past, you have confirmed no original dev lets go with the high please spots and close the poll chose a stake of your choice between the votes would be a good idea Well when it's one of my coins, I don't mind making informed decisions that I think are correct. In this case, it's totally up to you guys. The thing is, votes are votes. I will listen to the poll, regardless of my personal feelings. If you want this coin to be made your way, get more votes Pretty sure I'm the only one putting transactions into the network and mining, btw... where can i mine? i am trying supernova but i am finding blocks every second...please advice! And guys/community, if spots doesnt want this coin, i mean only for the fix!, somebody has to do something and take this to the next level or else its dead anyway.. |
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Cobra
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March 05, 2015, 04:55:26 PM |
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@Clminer, currently there is 0 block reward for mining. anyone that is mining is just to move the chain forward and transfer their coins to Bittrex for an exchange based swap to a new chain.
It would be better this this coin did not have the exact same POS as one of spots other coins, no point in that at all. It would be best if this was at least unique compared to his other 3 coins to give people in that ecosystem a different/new option and not compete against one of them.
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