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Topic: [ANN] FIMK: 2.5G POS, extra block rewards, messaging, asset colors, p2p shopping - page 66. (Read 184356 times)

sr. member
Activity: 281
Merit: 250
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.

I guess I'm trying to say we have to see this reward as an average future Finnish user will see it. There is the great potential if it will be widely adopted. So as a citizen you get 100 FIMK a month for starters. That is peanuts but that is what they will have. So you have received 600 in half a year and you're thinking: should I investigate this further and maybe try forging. Hey there is these regular rewards every week! Hmmm, maybe I'll give it a shot. So rather have a rewards more often and pay them reduced whenever the forging account is a big one (saving the capital for future rewards) rather than pay a full reward twice a year.
full member
Activity: 189
Merit: 100
Proportionally each account forge with the same rate. No matter how coins it has.
If talking about this particular 10000 reward, most _probably_ it will go to the `middle class` holder. Just because stakes of `poor` holders are too small, and count of `rich` holders is too low.
I don`t remember how IPO listing looked like, but most probably again, it looked like most of things in our world - as `normal distribution` Smiley

But from other side, we will see normal distribution of bonus rewards only after they will happen in a quite a lot quantity. Smiley
sr. member
Activity: 281
Merit: 250
I am a large FIM holder (from IPO) and I even I think it would be nice to have incentives for smaller FIM holders to get involved.
We'll think this through how to arrange it, but it's very difficult to do without skewing the incentives towards unfairness.

Bonus rewards are not paid very often, so random variance will play a big role and even small time forgers have a considerable chance of hitting the bonanza on one of them.

Rough idea: Divide the reward with the forging account's balance and use that as a factor. Additionally have a maximum cap for revard, like 10000 now. This way anyone with 10000 or less would get the full reward 10000. Account with 50000 would get 10000/50000 times 10000 = 2000 etc. Simple.

The 200 FIMK basic reward would be paid in any case for the extra rewarded block like for any block. So an account with a million would get the usual 200 + only 100 extra. But an account with a million on it will forge like what, 600 000 a year was it?
newbie
Activity: 34
Merit: 0
1000+ votes on BTER. come on
hero member
Activity: 773
Merit: 500
Heatledger.com
I am a large FIM holder (from IPO) and I even I think it would be nice to have incentives for smaller FIM holders to get involved.
We'll think this through how to arrange it, but it's very difficult to do without skewing the incentives towards unfairness.

Bonus rewards are not paid very often, so random variance will play a big role and even small time forgers have a considerable chance of hitting the bonanza on one of them.
sr. member
Activity: 281
Merit: 250
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.
hero member
Activity: 739
Merit: 500
i agree 100%
the way crypto works in my eyes atm is still the same as fiat the rich get richer and the poor get fuck all lmao (yes i am in the poor section haha)

I really wish people would stop saying this, because it's just not true.
The saying refers to systems where the rich gets better return for their money. Just because they have more they get more opportunities and favorable terms. You know, like the real word.

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.
hero member
Activity: 658
Merit: 500
Excellent! Just an idea for the future:

The biggest accounts will forge most blocks anyhow (a couple of them with possibly over 10 000 000 FIMK on them from IPO etc), and these big rewards will in average only accumulate in their stakes in the end.

So would it be a good idea for these special forging-rewards to have some kind of mathematical formula to reward smaller accounts with bigger reward. For example account with 10000 FIMK forging that special block would get the full 10000 price but an account with 100000 would get only 1000 or so. This was just as an example, and the precise formula needs a good tweaking but you get the idea. THAT would really make difference for small time crypto-hobbyists and small investors, who are by the way the majority of the community in the long run that you will want to please rather than a handful of whales who will forge tens of thousands FIMK anyhow even without special rewards.

And the remaining FIMK would be used in the next special rewards.

I am a large FIM holder (from IPO) and I even I think it would be nice to have incentives for smaller FIM holders to get involved.
newbie
Activity: 22
Merit: 0
I love forging FIMK.
The good feeling when you see your balance constantly  growing, is a very nice side effect Grin

Yes it is! It's precisely what I missed in NXT... been forging for months, no return however...
hero member
Activity: 620
Merit: 500
10000 FIMK

for the finder of block 10000.

Excellent! Just an idea for the future: The biggest accounts will forge most blocks anyhow (a couple of them with possibly over 10 000 000 FIMK on them from IPO etc), and these big rewards will in average only accumulate to their stakes in the end. So would it be a good idea for these special forging-awards to have some kind of mathematical formula to reward smaller accounts with bigger reward. For example account with 10000 FIMK forging that special block would get the full 10000 price but an account with 100000 would get only 1000 or so. Just as an example, the precise formula needs a good tweaking but you get the idea. THAT would really make difference for small time crypto-hobbyists and small investors, which is by the way the majority of the community in the long run that you want to please rather than a handful of whales which will forge tens of thousands FIMK anyway.

And the remaining FIMK would be used in the next special rewards.

i agree 100%
the way crypto works in my eyes atm is still the same as fiat the rich get richer and the poor get fuck all lmao (yes i am in the poor section haha)
sr. member
Activity: 281
Merit: 250
10000 FIMK

for the finder of block 10000.

Excellent! Just an idea for the future:

The biggest accounts will forge most blocks anyhow (a couple of them with possibly over 10 000 000 FIMK on them from IPO etc), and these big rewards will in average only accumulate in their stakes in the end.

So would it be it would be a good idea for these special forging-rewards to have some kind of mathematical formula to reward smaller accounts with bigger reward. For example account with 10000 FIMK forging that special block would get the full 10000 price but an account with 100000 would get only 1000 or so. This was just as an example, and the precise formula needs a good tweaking but you get the idea. THAT would really make difference for small time crypto-hobbyists and small investors, who are by the way the majority of the community in the long run that you will want to please rather than a handful of whales who will forge tens of thousands FIMK anyhow even without special rewards.

And the remaining FIMK would be used in the next special rewards.
hero member
Activity: 773
Merit: 500
Heatledger.com
Krypto FIN ry. wishes to celebrate successful launch of FIMKrypto and begins to fulfill its extra block bounties spree by offering

REWARD
10000 FIMK


for the finder of block 10000.

The extra block reward will be paid within two days from passing block 10000 on top of any other block rewards from the Krypto Fin ry. bounty reserve account.
hero member
Activity: 697
Merit: 500
hero member
Activity: 658
Merit: 500
This is just my opinion and people are welcome to disagree, but I think if you are worrying about DGEX and getting listed right away on new exchanges, then you probably just want to dump your FIMK or day-trade.  That's short sighted.

If you care about this coin, then you won't worry about where we are after 1 week.  Its where we are in 1 year that matters. 

Why rush?

PS - if you hate DGEX, bite the bullet and move your FIMK out and stop complaining and FUDing.
hero member
Activity: 1932
Merit: 506
Betking.io - Best Bitcoin Casino
I did some simple calculations (very, very simple) but gives a nice view on how things might(!) evolve. The growth rate on the first sheet, is based on all current 333 314 000 FIMK forging, this rate will surely change, especially when the distribution starts on 1-Oct-2014, and also because 576 000 FIMK is currently distributed daily as rewards (200 FIMK/block, 2880 blocks/day).

https://docs.google.com/spreadsheets/d/1UlwziOljobc3ro9p-Cdr6YsqCiwvoTQsWHsQWE-3HSc/edit?usp=sharing
Thx for the calculation.

I love forging FIMK.
The good feeling when you see your balance constantly  growing, is a very nice side effect Grin
hero member
Activity: 658
Merit: 500
the price is too high,not worthy of investing.

thanks for your deep technical analysis
newbie
Activity: 45
Merit: 0
the price is too high,not worthy of investing.
sr. member
Activity: 281
Merit: 250
How about a Facebook-page? There could be even a bounty for that. Maybe 5000 FIMK for a page with 1000 likes or something. I know Facebook is big no no for some individuals but in the end of the day that is still a big marketing and information channel for the mainstream and would be silly not to take advantage of it. Companies use it, associations use it, bands and performing artists use it, you name it.

Also @ devs:

How decentralized do you see this currency? Do you encourage people to take action themselves without you (fimk-organisation) coordinating it?
hero member
Activity: 739
Merit: 500
Dance is right, the amount you see fits the order-of-magnitude you should be in. Also, you are forging with an effective balance, which only takes effect after 1440 blocks (after the transfer), and I see you did some transfers during the last few days.

If I do a transfer my forging stops and starts only after 1440 bloks.  Did I understand it right?
Yes. (But only for the coins you moved.)
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