Topic: [ANN] Mjollnircoin - MNR - Ultra-secure, Fast Transactions & ASIC resistant - page 8. (Read 80212 times)

I have considered PoS before; at the end of mining of Mjollnircoin with a an extreme low interest rate. PoS greatest benefit from Mjollnir's is indeed the PoS energy efficiency but I never implemented it, since at that time it was not necessary to have it. Also, given the parametrics, it can well be a new coin - and I think that's the simpler solution ?

It is risky making a change like that, I don't like that; PoS also brings new risks I can see happen to MNR if it gets low on resources. Also when things are possible, they will happen and suppose there was PoS now in MNR at current total coin supply, at 3000 satoshi it is possible one or few become a monopolist

Also, PoS for me and others too it seems, need more convincing arguments; I think there are better features to implement over mid term.
 
Mjollnir is quite unique in its current setting and choice of PoW; The block devaluation will start aprox. in Oktober this year, by 0.85% every 11 days, slowing the coin's total supply rate . By then, total supply is ~5.2 million coins. Using HEFTY as PoW is a good choice for our GPU this summer.

We need to improve our visibility and work is done for that, but everyone should help spread the word






 



















 

No.  Are you a troll or something? Pretty much every altcoin has had changes made to it to it's spec so your point is either a wind up or an indication of extreme ignorance.

3btc

Little late in the game to change the coins spec

I completely disagree.  I'm a miner myself but miners don't support a currency in the way you describe.  It needs to gain widespread acceptance and mining is irrelevant to the very people that need to come on board to make a currency viable. 

Whilst I haven't sold any of my MNR - most miners seem to mine a coin and sell it straight away.  This actually devalues a currency and makes it less attractive to buyers.  Certainly we as miners are major supporters of the currency at present because we have the largest investment in it. 

Continuing POW will only perpetuate the idea that this is a currency for miners.  Combining POW and POS would be a disaster IMO as it would devalue the currency by increasing the rate of coin production.  Much as we might not like it, the future is with ASICs, multi-algo mining and POS.  I don't believe in making a currency that is purely for now. 

Things move very fast in crypto and just thinking of a currency as a temporary thing won't inspire confidence in others to invest. 

I've already had a lot of positive interest asking non-miners how they would feel about MNR going POS. 

Let's not kill Mjollnir before it even gets going because we are too narrowly focused on our own little world of mining.  For it to succeed it needs to move more towards regular people adopting it.

POS only (as opposed to POW+POS) is the way to achieve that.

I agree with Cayars

From my point of view Pow+Pos hybrid system looks more interesting.TEKcoin is good example, but with lower interest rate (maybe 5% - 10% per month)

Yes.  I think it costs 1 BTC to advertise there.

You misunderstand.  The idea is to go to POS only not a combination.

At bittrex when you are at your dashboard there are some sponsored coins at the top of the page getting some nice screen time! Does anyone know how much it costs to get us on?

please donot pos. pow+pos is not a good idea.

Couple things to think about.

In 10 years bitcoin, altcoins and everything similar will be replaced by the next "big thing".  So I wouldn't worry about looking "to far" out.

Need to be very careful thinking about POS.  The coin could easily die.  Right now the people interested in it are miners.  If you take away the mining part of this coin then possibly 90% of people currently supporting it would go away.

I'd personally not consider making this type of change until long after marketing and coin acceptance has been established as a way of trade.

Just something to think about.

Just a few more details if MNR goes POS at 2 million coins that would leave 40 million coins for interest at 5% per year.

In the first year that would add 100,000 coins, in the second year 105,000 would be added and so on.  At this rate it would take about 62 years to reach 42 million coins.


At 2.5% interest it would take twice as long about 124 years to reach 42 million coins.

I agree.  With a chained hashing algorithm ASICs will take a long time to develop which means a long period of GPU mining which is ultimately expensive energy wise.  ASICs are here to stay and the only alternative in energy terms (in fact it's even more energy efficient) is POS.

Brokkir has lot's of great ideas.  He's currently looking into other things, such as coloured coins, POE, merchant/retailer integration and is also looking at adding more members to the team.  Indeed he is currently in discussion with a potential new team member right now.

I agree. Brokkir is a bit wary as it can be difficult to set the correct interest rate.  So we would be grateful for opinions on this from people who have more of a grounding in economics.  Just to be clear Proof of Stake just alters the way coins are produced with the rate being dependent on interest (rather than block rewards/block time with mining).  The coin total can be kept the same.  Since less "work" or energy is required the growth of coin supply is normally slower than with mining to prevent the market being flooded with coins.  The aim is to have an interest rate that is high enough to ensure continuing utility of the coin without growing the market too fast.  Any suggestions for what the rate should be? My personal opinion is a maximum rate of 5% per year.

 ::)good coin.good dev.come on.we need same plans.

I am in favour of POS, i see no future of POW 

Guys this is just a what if?  What would you think about moving to POS?  Would love some opinions.  Not up to me of course.  It's up to Brokkir as it is his coin but might be worth discussing.  I was thinking moving to POS at 2m or 2.5m coins approx then coin supply increasing slowly through POS, rather than mining, whilst retaining the same total coins.  That would compensate for long term inflation (at least several hundred years if done right).

Hi,

Any further thoughts regarding the wallet enhancements?

AA.

Yes that's true

It is still down, the VPS provider is Centarra. I will be looking for a new VPS to host the block chain explorer if this is not solved tonight