Topic: [ANN] Ħ [HODL] 5% Interest. No Staking Req. Term Deposits 10%. Solo Mining. - page 151. (Read 472878 times)

Pools could mine direct to users addresses in a round robin style - however I think administration would be more complex. We'd likely be back to solo mining and I think that might be an improvement too.

Some good discussion going on.

@freetrade you have made several comments about the coin dying or needing resurection but I fail
to see it. Due to the inflationary interest rate the price can drop significantly more than other coins without threatening the
it's future. One HOdl minted today worth 1000 sat can drop to 50 sat in a year and still have the same value
because that one HOdl becomes 20 Hodl. Using other coins's price fluctuations to compare is misleading.

By my estimate the interest rate is currently about half that at inception, TDs maturing now are returning
double the pricipal. Therefore the adjusted Hodl price assuming no intrerest would be double today's trading
price. Would you be in the same panic if Hodl paid no interest but the price was 2000 sat?

The low tradeable supply vs the high potential supply is a bit of a double edged sword. It keeps trading volume
lower than a normal coin its size making the coin look smaller and weaker.

My concern is an overreaction due to the points I've raised. It would help a lot if you could explain why you believe
HOdl is threatened when there seems to be reasonable explanations for the price behaviour.

Now, on to your proposal. I have to speak against it because I don't think it would be effective. First of all the time bomb is
already set, it is the existing TDs maturing that will flood the supply. Forcing mined coins to be locked up will keep
the tradeable supply lower and make the explosion bigger.

If there really is a threat to the coin, and I'm not convinced there is, it is due to the large number of high interest TDs.
My proposal is to have the interest rate set at TD creation time based on any number of factors including exchange
rate, term, market cap, miniing supply growth, amount of locked in funds, etc. I'm ok with that going forward as long as
the interest rate remains fixed for the term of the TD. But it won't prevent the supply bomb from exploding next year.

I also still like the idea of tradeable TDs. That would increase the market liquidity which is a problem.

Thanks for the quick reply.  So a miner would not receive any coins until a year after the pool finds a block?

1. Gonna collect questions and discussion about Nutocracy on reddit - https://www.reddit.com/r/Hodl/comments/4qrfny/nutocracy_of_the_nuts_for_the_nuts_and_by_the/

2. No changes have been proposed there

3. The proposal is that all block rewards must be HODL'd for a year - including for pools. 

Another comment...

I just read the reddit post:

Cause: Short term supply is too high, flooding the small market with too many coins from dumping miners.
Remedy: Reducing short term supply, causing increase in price and market cap, leading to greater visibility on CMC and engagement in coin.

With a block of 50 at every 154 seconds currently, approximately 28052 HODL are mined per day

According to the fuzzbawls block explorer (which is very nice by the way), the daily volume between the two exchanges is:

0.28043888 BTC @ yobit
0.03655916 @ C-Cex

With a price of 1000 Satoshis that figures out to around 31,600 HODL being sold per day

While making miners HODL new blocks will reduce the number of new HODL available for trading, I do not see how it will encourage others to buy more.  I am guessing that there are a number of shorter term deposits that unlock on a daily basis that can be made available to the market.

I think a larger cause that should be addressed is increasing the interest in HODLcoin to bring in new buyers.  A daily volume of well under 0.5 BTC isn't going to provide a long life for this coin...

A couple of questions:

1.  Is 5MM votes the global approved/denied point for all motions?
2.  What happens to coins already in wallets, will those be free to buy/sell/trade or will they be subject to HODLing requirements?
3.  Will the pool have to HODL for a year and then distribute?

I've given this some more thought and I'm convinced it's the best chance to resurrect the coin - I'd like to get this to 5 mil votes as soon as possible and implement it quickly to end this period of uncertainty. Please take a moment to vote for this asap.

I do not think everything is written in stone as you express it - the coin has enormous potential into the future  . . . I think its important to promote it beyond this community. The high percentages are still available for a long time as an incentive to acquire . . .

The coin benefits early adopter long term hodlers way too much at the detriment of newer users. The constant falling in price is the logical outcome, though people were perhaps surprised as to how soon it came.

People who locked TDs for a year at the beginning will win no matter what even if prices fall more. Newer user have nothing to expect but future dumping. it's sad but I could not recommend hodl as an investment to new users with a straight face.

I also don't think the furure massive dump can be avoided. The dice were cast long ago.

Maybe once interest rates stabilize, a new (much lower) price can be settled on and people can start again with that as base

i think if this coin really works with its original purpose putting it inside the vault will work it is just like placing good investment and doubled it in a year good idea will follow with a good result just continue using it and support the community

If Bitcoin eventually becomes widespead adopted then HOdl coin because it is modeled after Bitcoin may also become big (newbie), but people need to be able to buy it and trade it - too many restrictions may not be a good idea

I've created a motion to test support for this idea -

https://nutocracy.herokuapp.com/arguments/that-block-rewards-should-remain-unchanged-in-amount-but-required-to-be-hodled-for-a-period-of-1-year-https-www-reddit-com-r-hodl-comments-4qpx9g

Personally, I think it might be a better idea than a drastic reduction in block reward, which the voting and comments show is very contentious. The idea can be discussed here, or at this reddit page -
https://www.reddit.com/r/Hodl/comments/4qpx9g

Long term problem = lots of Hodl coins coming out eventually
Long term solution more buyers = reasons to buy. Marketing
& usage.Those are the issues that need addressed

Unfortunately those who don't can't be bothered to explain their case.

I completely agree with everything you said.

@joblo: you, i like you

This is all about short term supply? I don't understand your logic. Considering cutting the block reward for mining is a long
term change, not short term. The effect of mining on supply is diminishing as TDs start to mature. maturing will saturate the
supply until the bonus interest rates expire and supply growth stabilizes.

If short term supply is the problem then cutting the block reward is not the solution.

The real supply bomb explodes at about one year from inception when the first full year TDs at the highest interest rates
begin maturing. If you're worried about oversupply that is what you should be focussed on.

However, when I began investing in HOdl I took that into consideration, as should have everyone. I also took into consideration
that with a large proportion of the total supply locked up the trade volume would be artificially constrained resulting in diffulty
being acccepted by larger exchanges and a more volatile trading price.

The bottom line for me is I object to changing any of the coin's specifications that were cast in stone, or any other knee jerk
reactions to price fluctuations.

Here's another idea that has been suggested to me that may help to constrain the short term supply of HODL without changing the mining schedule - 

Only allow HOdlers to mine. So require block rewards to be hodl'd for 1 year rather than being available right away. This might be problematic for the administration of pools, but as mentioned earlier, it may be that pools are not all that helpful to HOdl.

sure I'm happy to facilitate

In honor of the way Bitcoin started, and in the hopes that HOdl follows that path, I will arrange with one (1) interested person to buy them two pizzas for 10,000 (non-HOdl'ed) HOdl coins.  Perhaps Freetrade or someone of similar stature can act as the escrow for the transaction.  PM me if seriously interested and we'll work out the details.

Edit:  Let me caveat this:  Continental United States, Lower 48 states, Pizza delivery carrier of my choosing (I will take suggestions), USD value of pizzas and delivery costs not to exceed $50.  Other conditions as I think of them.  I'm not having a solid gold pizza delivered to the Antartic for 10,000 HOdl.