Topic: [ANN] Blackcoin Lore [BLK] | Home of PoS 3.0 | No ICO | No Pre-mine - page 23. (Read 32985 times)

Yeah, i agree, lots of promotion are needed for this platform to work. So far it seems quite nice, i'll be waiting for more updates

I wouldn't worry. Rat really screwed his plan up diplomatically already. You will get Janko's build (the one that has seen consistent updates and improvements for years now). Here's how it works, there are three possibilities:  

- Rat convinces the consensus his build is BLK and the old fork (ours)  is to be called 'Blacknet'  
- Rat doesn't convince the consensus, BLK stays BLK but he'll get a fork that exchanges support called 'Blacknet'  
- Rat doens't convince the consensus, BLK stays BLK, and he also doesn't get the exchanges on board to get his fork supported.  

The first scenario would be the worst for BLK, because it would require rebranding and everything. However, in order to do that Rat would need to convince all the stakers to support his fork. And that's not going to happen, Gritt already made sure of that by informing the exchanges that offer BLK. Exchanges really hate it when someone tries to sneak in a snapshot airdrop under the radar. They'll simply stake their reserves to lock Rat's idea out and it ends all there. IF they're generous and he's more transparent about the snapshot they might, MIGHT, support his second coin, but he really would have to make huge amends to get that done.  

In this situation it is better to wait for the situation to be cleared. If I want to buy at any exchange and when to withdraw what will be the coin I receive ? It seems there is some kind of struggle by both sides to take control over the source and project. I am just watching without rushing anything as this is correct way.

One point I think needs to be discussed is the flat staking reward. This causes for a decreasing inflation rather than an inflation that stay proportional to total supply.  

With 1.5 BLK per block every 64 seconds, BLK inflates 739,125 per year. That's 0.97% right now, but because it's a static amount each year, this inflation will get lower relative to the total supply.  

So while BLK inlfates, the staking rewards do not.  

I don't think that's a very elegant system. If we agree that 1% inflation is reasonable (which it is) then that should apply in perpetuity. In other words. Each block needs a small increase on the staking reward to keep up with the increasing supply.  

But of course, only if the community reaches consensus on such a change. 

BLK is the only coin that the community truly owns 100%.  

There's no other coin that gets PoS completely right. In order for PoS to stay decentralised, it needs to start out fair so that it stays fair. This is because the power of staking is directly linked to the share of coins someone has in the network.    

For PoS to work it needs to meet several conditions:  

- Even dispersion
- No exploitable features (like coinage)  
- No unfair advantages to a singular party.  

If these conditions aren't met, then we enter in a 'rich get richer' situation where a small group accumulates power and wealth and starts controlling the network. Almost every competing PoS coin manages to fuck it up in one way or another, quite impressive actually.

BLK, however, checks all these boxes. BLK stripped away the protocol to it's simplest form, leaving no mechanics that give anyone an edge in staking (and voting), the devs got 0 BLK from the launch, they rely on donations from the community (there's a new crowdfunding feature that will streamline this further).  

The way BLK is set up is ideological, and so far everyone who truly 'gets' this ideal ends up having no other choice than to love this coin.

And it shows! Two months ago the founder of BLK tried to co-opt the coin for his own purposes, the community didn't agree with his lack of transparency and his unclear motives, and thus he wasn't able to do anything. Anything he would do to the coin would end up being an unsupported fork that would have to continue as a whole new coin. It's a powerful case as to who truly decides what happens to the coin: It's us. We own it. We decide.  

There's just always something wrong with mining. Either miners are too powerful or apathetic, or there's these ASIC exploits. In the end mining means users paying a network cost to those who don't use their coin. That's so perverse.  

The crypto sector as a whole is only slowly starting to understand that Proof of Stake will end up being the only option to truly secure value in decentralised network. Everything relies on having as much power in as many hands as possible.

When you realise that Proof of Stake is the only way and why it's the only way, then there's simply nothing that beats BLK.

Yeah would be great. They want investment to be private as they require an entry price. Maybe we'll do a pot until minimum is hit, but they don't typically want those numbers publicly known.

If the BLK Team adds Binance as a new exchange it will be perfect.
All investors will go to BLK and pump prices.

the idea of the project impresses with its uniqueness and openness.An additional plus in the development of the platform is the lack of physical boundaries between the employee and the employer.This factor will only help to make greater use of the platform's capabilities.

After 4 years it's still my most favourite project by far. Whereas all other coins are trying to tack on more bloat and perverse mechanics, BLK keeps homing in on total minimalism. But hey, if 'back again' works better for marketing purposes then whatever, let's roll with that.

Nice to see this back again ...

We will be watching with anticipation.

#crysx

I'm very happy to see this project finally come to fruition, this gotta be one of the best thing that could have happened. I am very happy about this. Good job everyone

There are three types of caps:

- No cap
- Soft cap
- Hard cap  

Blackcoin's supply cap is 77m (currently existing) +740k (=0.98%) per year approximately.

The 740k is the staking reward that is handed out to the stakers each year. Everyone can stake. No barriers to entry, no delegates, only fairly distributed coins you can buy your way into.   

This is what we call a 'soft cap'. There's still a limit to the amount of coins can exist  at any given time, but the total supply does gradually increase at a flat rate.  

A hard cap is when there's an absolute limit on the total amount of coins that can ever exist, after which the network runs into a 'wall' where the network costs will have to be paid through a different means, usually transaction costs.  

Then there's the 'no cap' coins. These are centralized coins (usually ICO's) that can create new coins out of thin air whenever they want to because they own  100% of the consensus.  


---
Ultimately this boils down to the question 'Who pays for the network?'  

- No cap coins are to be treated like companies over which the 'shareholders' have no control over. Everytime they create new supply for themselves they are essentially letting everyone pay for it by inflating their amount. Nobody is able to tell when and by how much other than the core team.  

- Soft cap coins have a clear and stable answer to the question. BLK answers with 'All holders pay 0.98% (to the stakers) per year for the network. If you want to be part of the recipients, then stake, it's easy, cheap, and we encourage it'.  

- Hard cap postpone the answer to the question, often far away into the future. Until then that cap is reached, they are under (often heavy) inflation, and when they finally reach the end, the transaction costs will soar to pay the miners or the stakers. This is perverse, it discourages people from actually making the transactions, the very thing crypto was invented for in the first place.  

---
BLK choses this small and stable inflation to keep transaction costs low but enough to encourage as many people to stake. Currently almost one third of all the coins are staking. It's a delicate balance but I think BLK has nailed it.  

The only thing that can be improved is changing the 740k per year to a relative amount, just make it 1%. This means that the proportional inflation will stay the same rather than decrease as time goes on. If 1% is what we consider a good incentive right now, then so should it be in 100%. But this is a subjective point, I fully appreciate other view points on this last bit.  

Arent those two ideas in conflict.   The POW form of the coin ended years ago, so that part was limited and gone forever if that helps you.  The coin is now all POS where confirmation of transactions involves staking and a small 1.5 Blackcoin reward for the wallet that stakes.   Very simply it would be like a queuing system, or a kind of basic interest yield to holding any amount of coins in a wallet.    
   I've not read any proposal to remove the stake reward but you can see the amount increased is very steady, set amount and known in advance and all the new coins go back to wallet holders, not outside miners or anyone else who doesnt hold BLK.   Its way fairer and more efficient then POW and I seriously think it could take over from POW blockchains in the long run.  That would massively enlarge the market for POS generally if true.

The centre of any economy, FIAT, commodity, national or commerce is efficiency, it can destroy itself from within if not efficient and able to compete in a global market place.  No outside actors are required to make this true, if POS is more efficient then POW and it surely is then this weight of process is on our side long term.   Its very reasonable to take an interest on BLK imo

Hi. Does BLK have a max coin supply by any chance? I'm looking to invest and hodl a privacy PoS coin with a max coin limit. Thanks

I had already, twice. No response.

You should contact Coinmarketcap https://coinmarketcap.com/currencies/blackcoin/#markets to change ann page link. 

This is really well said. Thank you. I just joined this forum. I'm interested in Blackcoin. As far as its age. It reminds me of ECC: being an older coin with new things on the horizon. Potential for the price to go up again would you say? That's great that it's listed on so many large exchanges like poloniex, bittrex, and cryptopia. That must make for a lot of volume. Up until today I had not heard of Blackcoin until I saw it had one of the top ratings on Cryptopia (I use cryptopia a lot). cheers.

On Reddit and Twitter the misery that comes with ICO tokens is slowly starting to seep into the community's awareness. Tokens are going bust, companies like EOS are dumping massive amounts of Ethereum, any holder of such tokens will be the last to know when that shit happens, and by then it will be too late. 

People want stability. And stability comes from lean coins, coins that don't rely on a treasury and/or continuous revenue stream to build their projects.

New passion for Blackcoin, certainly with the return of the author and take many developers will be a stronger team
and quick to achieve satisfactory results.