Topic: [ANN][1000 SYNC] Proof of Stake now run by BLOCKCHAIN DEVELOPMENT COMPANY - page 237. (Read 816006 times)
June 03, 2014, 07:01:15 PM
You can not change the 10,000 coin limit. That would crush the value of the coin. Even though there are only 10,000 coins you can still break them into a fraction there fore there will be plenty of coins for everyone. You just might not own 1 total Sync when it gets to that high of value.
June 03, 2014, 07:00:31 PM
Just an FYI - If my calculations are correct, leaving the 100% annual POS in place for 2 weeks and then halving it monthly would result in a maximum coin supply of around 1131 Sync.
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
thats the reason why the discussion about maxcoin is worthless and just a hint that someone either has no clue about that Thing OR DONT WANT TO SHOW THAT BEACUSE HE´S just trolling
good work
as at the moment only 10 000 will only ever be in existance
as i was asying earlier for this coin to have any chance of attaining
it s fair value it has to measure up against gold and silver as an investment
vehicle.
Lets face it 10000 at 100 btc each is only 1 mill now that hardly is going to fill
demand should the coin be widely adopted
and one thing is for sure never in a million years would i hold a 1000 btc equalient
crypto coin over the same value amount in gold and silver in my personal possesion
thats just way to risy period
3 reasons
1 gold and silver retains value no matter what
2 you can trade gold and silver without a computer
3 Its a tangible and physical object you can hold in your hand
So we need to ask ourselves do we want this coin to be widely adopted and recognised
as a crypto currency that hold value, and how much would we reasonably agree
one sync could be worth.
If my reasoning is sound even a little 10 000 coins is not nearly enough to fullfill future demand
look at it this way if only 100 people in each country in the world were to have just 100 sync
at 10000 btc each (1 million $ US) which is a bit mad as its not BTC
then you would need a minimum 30000 sync Simple as that for 100 common millionaires
in each country to be able to hold just 1 -10 % of their wealth
at 10 000 sync only that math works out to 5000 - 10000 btc in value = 1 Sync
Will never ever happen in a million years beacuse gold and silver is more valuable
as a commodity and is a tangible currency whihc crypto and fiat will never be.
Please correct me if i am wrong in this.
There are situations where gold and silver is impractible.
Let's say you wanted to move some money across country borders. Or what if you live in an area with a lot of robberies? Or what if you think your wife is planning to leave you for another man once she gets permanent residency in your country?
Some times a rock solid crypto currency would be very much preferrable than bars in the vault.
June 03, 2014, 06:59:12 PM
beside that mixing Software can be a threat to the community in many ways (centralize, a known control over nodes to ensure that bad nodes get no Chance, Problems while not probably compiled and so on)
do we want that ? is it worth being not traceable ? i dont know
do we want that ? is it worth being not traceable ? i dont know
Are you voting against it
not really - if you or the community want to have it - who am i to disagree - but everyone should know the whole Thing before voting/discussing
June 03, 2014, 06:36:19 PM
Just an FYI - If my calculations are correct, leaving the 100% annual POS in place for 2 weeks and then halving it monthly would result in a maximum coin supply of around 1131 Sync.
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
thats the reason why the discussion about maxcoin is worthless and just a hint that someone either has no clue about that Thing OR DONT WANT TO SHOW THAT BEACUSE HE´S just trolling
good work
as at the moment only 10 000 will only ever be in existance
as i was asying earlier for this coin to have any chance of attaining
it s fair value it has to measure up against gold and silver as an investment
vehicle.
Lets face it 10000 at 100 btc each is only 1 mill now that hardly is going to fill
demand should the coin be widely adopted
and one thing is for sure never in a million years would i hold a 1000 btc equalient
crypto coin over the same value amount in gold and silver in my personal possesion
thats just way to risy period
3 reasons
1 gold and silver retains value no matter what
2 you can trade gold and silver without a computer
3 Its a tangible and physical object you can hold in your hand
So we need to ask ourselves do we want this coin to be widely adopted and recognised
as a crypto currency that hold value, and how much would we reasonably agree
one sync could be worth.
If my reasoning is sound even a little 10 000 coins is not nearly enough to fullfill future demand
look at it this way if only 100 people in each country in the world were to have just 100 sync
at 10000 btc each (1 million $ US) which is a bit mad as its not BTC
then you would need a minimum 30000 sync Simple as that for 100 common millionaires
in each country to be able to hold just 1 -10 % of their wealth
at 10 000 sync only that math works out to 5000 - 10000 btc in value = 1 Sync
Will never ever happen in a million years beacuse gold and silver is more valuable
as a commodity and is a tangible currency whihc crypto and fiat will never be.
Please correct me if i am wrong in this.
June 03, 2014, 05:57:42 PM
Just an FYI - If my calculations are correct, leaving the 100% annual POS in place for 2 weeks and then halving it monthly would result in a maximum coin supply of around 1131 Sync.
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
thats the reason why the discussion about maxcoin is worthless and just a hint that someone either has no clue about that Thing OR DONT WANT TO SHOW THAT BEACUSE HE´S just trolling
good work
Its always relevant if its active in the code. Right now stake is 100% annually and we will reach the maximum supply of coins in a couple of years. If we reduce the interest it draws that timeframe out. If we reduce the interest so fast we never reach the max amount of coins there is little hope for new investment. In 6 months POS will basically be over under your halving schedule. Very little incentive for future investors looking to buy coins.
My point is that instead of arguing over interest rates, we should be arguing over the total number of coins. Then we can decide how long new minting will take place and figure out a way to reduce POS interest rates
June 03, 2014, 05:55:31 PM
Just an FYI - If my calculations are correct, leaving the 100% annual POS in place for 2 weeks and then halving it monthly would result in a maximum coin supply of around 1131 Sync.
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
+1
I have a wallet ready for this ;-) If we are going this way, just agree the paramaters. And I need to test it for a while, but 2 weeks is plenty of time to finish the tests.
June 03, 2014, 05:40:07 PM
beside that mixing Software can be a threat to the community in many ways (centralize, a known control over nodes to ensure that bad nodes get no Chance, Problems while not probably compiled and so on)
do we want that ? is it worth being not traceable ? i dont know
do we want that ? is it worth being not traceable ? i dont know
Are you voting against it
June 03, 2014, 05:38:26 PM
Just an FYI - If my calculations are correct, leaving the 100% annual POS in place for 2 weeks and then halving it monthly would result in a maximum coin supply of around 1131 Sync.
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
thats the reason why the discussion about maxcoin is worthless and just a hint that someone either has no clue about that Thing OR DONT WANT TO SHOW THAT BEACUSE HE´S just trolling
good work
June 03, 2014, 05:34:43 PM
beside that mixing Software can be a threat to the community in many ways (centralize, a known control over nodes to ensure that bad nodes get no Chance, Problems while not probably compiled and so on)
do we want that ? is it worth being not traceable ? i dont know
do we want that ? is it worth being not traceable ? i dont know
June 03, 2014, 05:33:37 PM
Just an FYI - If my calculations are correct, leaving the 100% annual POS in place for 2 weeks and then halving it monthly would result in a maximum coin supply of around 1131 Sync.
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
41.67 sync generated by 100%/year for 2 weeks (1000 * (1 + 1/24))
43.403 by 50% for 1 mo (1041.67 * (1 + 0.5/12))
22.606 by 25% for 1 mo (1085.07 * (1 + 0.25/12))
11.538 by 12.5% for 1 mo
5.829 by 6.25% for 1 mo,
...
Adding up all of the diminishing stake amounts has an upper limit of about 131 coins generated from stake total, so we would get nowhere close to 10000. Even if the rate was monthly instead of annual, the limit would still be less than 3600 total
June 03, 2014, 05:28:01 PM
Implementing a mixer into sync is now on for discussion. Both Fedora and XC have it
EDIT: I am not the one implementing it.
The person will charge some btc and give us the timeline for anonymity.
EDIT: I am not the one implementing it.
The person will charge some btc and give us the timeline for anonymity.
absolutly the quicker the better
i dont know if a mixer is necessary - first of all it costs - but isnt it that Point that crypto was blamed for ?
shady unknown Little Thing thats used by shady People !?!
June 03, 2014, 05:17:13 PM
Implementing a mixer into sync is now on for discussion. Both Fedora and XC have it
EDIT: I am not the one implementing it.
The person will charge some btc and give us the timeline for anonymity.
EDIT: I am not the one implementing it.
The person will charge some btc and give us the timeline for anonymity.
absolutly the quicker the better
June 03, 2014, 05:08:06 PM
Implementing a mixer into sync is now on for discussion. Both Fedora and XC have it
EDIT: I am not the one implementing it.
The person will charge some btc and give us the timeline for anonymity.
EDIT: I am not the one implementing it.
The person will charge some btc and give us the timeline for anonymity.
June 03, 2014, 05:00:56 PM
just a hint @mintpal the buyside is increasing from that side - all fine too
June 03, 2014, 04:55:09 PM
What is the word on max coin supply? I'm more interested in that then whatever the interest rate is. Is the 10,000 coin limit going to stay?
10,000 max supply will not be changed.
thats good - any deadline ?
Thinking about 2 weeks and then we start halving the stake monthly
June 03, 2014, 04:49:51 PM
What is the word on max coin supply? I'm more interested in that then whatever the interest rate is. Is the 10,000 coin limit going to stay?
10,000 max supply will not be changed.
For sure? There's like no hidden coins lying around right?
June 03, 2014, 04:46:41 PM
What is the word on max coin supply? I'm more interested in that then whatever the interest rate is. Is the 10,000 coin limit going to stay?
10,000 max supply will not be changed.
thats good - any deadline ?
Thinking about 2 weeks and then we start halving the stake monthly
June 03, 2014, 04:44:05 PM
What is the word on max coin supply? I'm more interested in that then whatever the interest rate is. Is the 10,000 coin limit going to stay?
10,000 max supply will not be changed.
thats good - any deadline ?
June 03, 2014, 04:10:38 PM
What is the word on max coin supply? I'm more interested in that then whatever the interest rate is. Is the 10,000 coin limit going to stay?
10,000 max supply will not be changed.
June 03, 2014, 03:58:34 PM
If the interest rate does end up with a half life as is being discussed, the total supply would most likely end up being quite a bit less than 10,000.
Yes, I think that we have not to release more then 10,000 sync in any way.
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