I have a question with the 1% interest if anyone can answer. I have just under 2k blackcoins, now I know yearly it equates to I think it was 1.01% interest earned. But lets say I keep them in the exchange, Mintpal. Will that 1% just goto Mintpal or will it be credited to my account? If it does goto MintPal, does that not mean that they are going to make beyond bank on this coin? I see this coin reaching upwards of $10 in the next few months....so should exchange rates then in turn be lowered because exchange will be getting 1% on all coins exchanged anyways as they have the master wallet.
I am just curious. I know in the short term it shouldn't matter, but if an exchange has 10 million coins in it's wallet, that means every year they will get 100k in coins. and at $10 that is already $1 million USD say the coin reaches extreme heights of $100, we are looking at giving the exchange $10 million dollars a year on top of exchange rates for the coin.
Yes Mintpal does in fact "Mint" your Blackcoins. As they should they work their asses off to make the exchange secure. Good for them I hope they make millions.
Actually, they don't. But that is exactly why I prefer them. They keep most of their coins in cold storage - so those are not staking for anyone. Cryptsy does stake theirs and they pay out that stake to portfolios on there (at least that's what I was told - I don't trade on that site because it has way too many delays with withdrawals for my taste).
So only the hot wallet at Mintpal is active - and it won't stake either most likely because the coins have to stay put for more than 8 hours just to have a chance to stake.
I was asked why blackcoin is so unique, besides pos. I was going to mention the fast transaction times, but some think this is just a simple mod like litecoin ? Seems impressive to me but is there any other utility this coin brings that I could say in defence of the realm of bc
Well, the fact that it's pure PoS is a big part of it... another part is the appropriate mintage - more than Bitcoin, but far less than most PoW coins. Transaction speed is key, as is the fact that the devs are active and responsive - not just rat4 (coin dev) but the pool(s) and wallets, etc. And as far as your comment on speed is concerned... no LTC and BTC could never have a 10 second rate... it's not possible with PoW.
But without a doubt the biggest difference is community. Until it blew up you could really see something different just by getting to know those involved. The issue is that you can't really 'market' that aspect - people have to realize it for themselves. Those of us that realized it earlier, will naturally profit more - but there's plenty of room to go IMO.
