Faucet at http://jaft.tk/faucet
Finnish language faucet: http://jaft.tk/faucet/fin
FIMK number game: http://jaft.tk/numbergame
And a new simple automated exchange is being developed at http://jaft.tk
-From an unofficial FIMK developer
Topic: [ANN] FIMK: 2.5G POS, extra block rewards, messaging, asset colors, p2p shopping - page 65. (Read 184356 times)
July 07, 2014, 03:22:25 PM
July 07, 2014, 03:07:09 PM
Someone with good math, please do a simple form (excel or what ever) where you can enter your balance and it will give you the average first year forged amount. Assuming all the available coins are forging (not devs reserve coins). Would be useful!
I already have made such a form (excel sheet), very simple model, for 308 days all coins are forging, new coins distributed as rewards and as basic income and not being taken nto consideration (would be a nice add on..):
https://docs.google.com/spreadsheets/d/1UlwziOljobc3ro9p-Cdr6YsqCiwvoTQsWHsQWE-3HSc/edit?usp=sharing
July 07, 2014, 03:04:41 PM
Someone with good math, please do a simple form (excel or what ever) where you can enter your balance and it will give you the average first year forged amount. Assuming all the available coins are forging (not devs reserve coins). Would be useful!
forged = 200 * 2880 * 365 * balance / 333000000 July 07, 2014, 02:57:07 PM
Someone with good math, please do a simple form (excel or what ever) where you can enter your balance and it will give you the average first year forged amount. Assuming all the available coins are forging (not devs reserve coins). Would be useful!
July 07, 2014, 02:33:50 PM
What about creating or being added to a pool? I mean not a multipool, but something like nxtio.org
So that holders who can't have their computers be turned on 24/7 will be still receiving rewards?
So that holders who can't have their computers be turned on 24/7 will be still receiving rewards?
July 07, 2014, 02:18:27 PM
No worries I'm not here to argue, not at all. It's more like I'm trying to get my head around how this works. I did correct my calculation so that the initial distribution is half of the total as it is in FIMK https://bitcointalksearch.org/topic/m.7721274
But I will take the facepalm if I'm wrong
Now I see where are you wrong.
There is no 1% interest.
There is only 200 fimk per block (plus transaction fees).
So 1st day A received 1 coin because he owns 0.1%
And the 2nd and all others days he will be receiving 1 coin because he still owns 0.1%
B will be receiving his 100 each day respectively.
July 07, 2014, 02:10:45 PM
I'm not really understanding you.
For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.
170,000,000 addition will be given to us in the first year.
And amounts of these additions will have the same proportions as our initial stakes.
You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.
For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.
170,000,000 addition will be given to us in the first year.
And amounts of these additions will have the same proportions as our initial stakes.
You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.
That's true under the assumption that all coins are forging 24/7 the whole year (and we now that there is ~20M in accounts owned by the developers, not sure if they are forging). We know that from 1-10-2014 onward 100 FIMK/month will be distributed to Finnish citizens who have opted-in (if it turns out a major success the funds (313M) will be deplete very quickly, 5 400 000 people in Finland, ~83% = 15+, if 5% opt-in, ~22M/month as basic income), this alters the rate also.
Currently sampling the growth rate, which till now is much higher (from my perspective at least)...
Yes, my model is simplified.
July 07, 2014, 02:00:05 PM
I'm not really understanding you.
For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.
170,000,000 addition will be given to us in the first year.
And amounts of these additions will have the same proportions as our initial stakes.
You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.
For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.
170,000,000 addition will be given to us in the first year.
And amounts of these additions will have the same proportions as our initial stakes.
You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.
That's true under the assumption that all coins are forging 24/7 the whole year (and we now that there is ~20M in accounts owned by the developers, not sure if they are forging). We know that from 1-10-2014 onward 100 FIMK/month will be distributed to Finnish citizens who have opted-in (if it turns out a major success the funds (313M) will be deplete very quickly, 5 400 000 people in Finland, ~83% = 15+, if 5% opt-in, ~22M/month as basic income), this alters the rate also.
Currently sampling the growth rate, which till now is much higher (from my perspective at least)...
July 07, 2014, 01:33:35 PM
Made a Facebook Fanpage @ https://www.facebook.com/FIMKrypto
Nice work. Would you consider transferring access rights to Krypto FIN ry. for us to effectively be able to use the particular account for promotion, announcements and related things please?
Sure
Yes, I think it could cause confusion if this Facebook page is not maintained by the Devs (because of the exact fb url /Fimkrypto)
July 07, 2014, 01:30:29 PM
@dance
Actually with FIMK model the total would be accordingly to previous example calculation 200 000 fixed.
and 100 000 from the beginning in circulation. Right?
Total FIMK in Genesis block: 666,280,000
Genesis block stakeholder funds: 333,140,000
I'm not really understanding you.Actually with FIMK model the total would be accordingly to previous example calculation 200 000 fixed.
and 100 000 from the beginning in circulation. Right?
Total FIMK in Genesis block: 666,280,000
Genesis block stakeholder funds: 333,140,000
For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.
170,000,000 addition will be given to us in the first year.
And amounts of these additions will have the same proportions as our initial stakes.
You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.
No worries I'm not here to argue, not at all. It's more like I'm trying to get my head around how this works. I did correct my calculation so that the initial distribution is half of the total as it is in FIMK https://bitcointalksearch.org/topic/m.7721274
But I will take the facepalm if I'm wrong
July 07, 2014, 01:13:31 PM
Made a Facebook Fanpage @ https://www.facebook.com/FIMKrypto
Nice work. Would you consider transferring access rights to Krypto FIN ry. for us to effectively be able to use the particular account for promotion, announcements and related things please?
July 07, 2014, 01:10:32 PM
@dance
Actually with FIMK model the total would be accordingly to previous example calculation 200 000 fixed.
and 100 000 from the beginning in circulation. Right?
Total FIMK in Genesis block: 666,280,000
Genesis block stakeholder funds: 333,140,000
I'm not really understanding you.Actually with FIMK model the total would be accordingly to previous example calculation 200 000 fixed.
and 100 000 from the beginning in circulation. Right?
Total FIMK in Genesis block: 666,280,000
Genesis block stakeholder funds: 333,140,000
For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.
170,000,000 addition will be given to us in the first year.
And amounts of these additions will have the same proportions as our initial stakes.
You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.
July 07, 2014, 01:10:05 PM
hi dev, what are the future plans? what are the marketing plans? How you intend to spend the BTCs from IPO?
July 07, 2014, 12:58:16 PM
@dance
Actually with FIMK model the total would be accordingly to previous example calculation 200 000 fixed.
and 100 000 from the beginning in circulation. Right?
Total FIMK in Genesis block: 666,280,000
Genesis block stakeholder funds: 333,140,000
Actually with FIMK model the total would be accordingly to previous example calculation 200 000 fixed.
and 100 000 from the beginning in circulation. Right?
Total FIMK in Genesis block: 666,280,000
Genesis block stakeholder funds: 333,140,000
July 07, 2014, 12:56:33 PM
I have been forging, but had to reboot my computer today. After reboot, I started up the fimk java process (ran the run.bat file), and logged in my account. It says I'm forging again - is this normal? I thought that if the java process dies I'd have to start forging again.
July 07, 2014, 12:47:40 PM
Someone give ME a facepalm, lol. But I still don't understand how does this work when put into perspective of having fixed amount of coins.
Anyhow agree with Jack Needles, good start.
Anyhow agree with Jack Needles, good start.
July 07, 2014, 12:39:01 PM
basic maths (example):
total 100 000 coins
account A 0.1% (100 coins) earns 1 a day
account B 10% (10 000 coins) earns 100 a day
Where are another 89.9%? Lets name it account C (89900 coins).
Quote
after one day
account A 101 coins = 0.101%
account B 10100 coins = 10.1%
And account C 90799 coins.account A 101 coins = 0.101%
account B 10100 coins = 10.1%
So NOW 100% coins != 100000 coins. It is 90799+10100+101=101000 now.
So A still has 0.1%
B still has 10%
C still has 89.9%
etc
July 07, 2014, 12:37:24 PM
dance said In the end of the year they still will have 0.1%/10% of all existing coins.
That is not the case.
That is not the case.
July 07, 2014, 12:27:23 PM
Proportionally each account forge with the same rate. No matter how coins it has.
But with PoS the rich do not get richer. No matter how much coin do you have, any one coin will always earn the same return. This is the most fair system you can ask for.
Come on it's math. Big stakes do accumulate way faster and therefore rich do get richer.
You don't understand.
Poor guy has 0.1% of all coins initially.
Rich guy has 10% of all coins initially.
Both are forging 24/7 for a year.
In the end of the year they still will have 0.1%/10% of all existing coins.
100 000 coins distributed from total 200 000
daily interest 1%
100 000 coins distributed
account A 0.1% (100 coins) earns 1 a day
account B 10% (10 000 coins) earns 100 a day
account C 89.1% (89 900 coins) earns 899 a day
after one day
account A 101 coins = 0.05% of total 200 000
account B 10100 coins = 5.0% of total 200 000
account C 90799 coins = 45.4% of total 200 000
after two days
account A 102.01 coins = 0.051%
account B 10201 coins = 5.10%
account C 91706.99 coins = 45.85%
after ten days
account A 110.46 coins = 0.055%
account B 11046 coins = 5.5%
account C 99305.53 coins = 49.65%
after 50 days
account A 164.46 coins = 0.082% (started from 0.05% of total 200 000)
account B 16446.32 coins = 8.2% (started from 5% of total 200 000)
account C 147852.40 coins = 73.9% (started from 44.95% of total 200 000)
The growth will end when the total cap of 200 000 coins is reached naturally.
edit3: D'oh
https://bitcointalksearch.org/topic/m.7724062 July 07, 2014, 12:08:05 PM
Proportionally each account forge with the same rate. No matter how coins it has.
But with PoS the rich do not get richer. No matter how much coin do you have, any one coin will always earn the same return. This is the most fair system you can ask for.
Come on it's math. Big stakes do accumulate way faster and therefore rich do get richer.
You don't understand.
Poor guy has 0.1% of all coins initially.
Rich guy has 10% of all coins initially.
Both are forging 24/7 for a year.
In the end of the year they still will have 0.1%/10% of all existing coins.
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