Another huge issue is the growth-account if I understand it right.
Somebody explained it:
NeuBuy:
@Kamatezo When staking amounts like 10000 NEU you'll have much less than one percent chance of minting coins each day. So you could go months without minting coins, and you're not going to get such a compounding advantage as your calculations. You'll also have a lot of uncertainty, if you're unlucky it could be years before you mint coins. The good thing about the growth accounts is you're guaranteed to get coins.
That said I don't like the way the growth accounts work. It would be much better without different time periods. So you could transfer in and out coins when you want, and get paid rewards on a regular bases. Maybe someone else will implement a more user friendly growth account this way.
Sandrine confirms:
Sandrine:
@Kamatezo : Growth Accounts are meant for mainstream users who do not wish to dive into the complexities of mining. What @NeuBuy posted is a good explanation of what the Growth Account is.
And she says:
Sandrine:
@NeuBuy I have a quick question about your remark: if you wanted just one time period, how long would it be? I'm not sure I understand why you don't like having different time periods, I'd like to know more so we can improve our service. Different time periods were meant to offer a solution for different types of users: some of them will be uncomfortable with depositing their NeuCoins for 5 years, other ones are totally ok with it.
Can you breakdown what you would be more confortable with?
Source:
http://forum.neucoin.org/t/investors-in-neucoin-growth-account/1341/4The problem with that is: They say that there will be 100%-interest per year. They also say that they don't want much price volatility. So, it won't rise that much because they'll meet every demand which means: They'll sell into a price-rise and they have enough, they stake more then they are able to sell every day.
That means: Most likely there won't be profit because of the price. If somebody buys NEU now, he has to make profit about the interest-rate. In 1 year he could have 100% if the price will be stable and if there is enough buy-support to sell into it. And: If he gets his Coins.
But: Let's say there is an issue in 12 month. An Investor would like to sell and he should have 100% interest but he was "unlucky"... so he doesn't have the double-amount. What to do? Hoping that he will have luck in the next week, month, year and at the same time the price goes down? It's irrational to bind BTC in a project when it's impossible to do something right... if there is a problem it could be the best thing to sell but then there would be any interest rate, even if an Investor holds his Coins for month or even years. It's like roulette but needs endless trust.
And this:
"some of them will be uncomfortable with depositing their NeuCoins for 5 years, other ones are totally ok with it." is kind of cynical, because nobody will know what will be in 5 month. Whoever is okay to bind his investment the next 5 years must be naive.
With other words: Even without all other issues, concerns and unanswered questions about inflation and lack of transparency and so on, there is not much reason to invest in this. The interest-rate is the only way to make profit but at the same time nobody can be sure that he will get it in years, because:
"if you're unlucky it could be years before you mint coins"At the same time the group behind stakes millions of new Coins everyday and they will sell if they can without crashing the price. Every aspect of this project shows the greed of a few and others should support it, invest it, make PR for it, stake it... it's naive to believe that many Investors will do that - it seems there is not much probability to win.