Topic: [ANN][CON] PayCon™ HI POS | LiteStake | Multisend | TOR | Android - page 91. (Read 179167 times)

Nice, Weelets are running nicely

Yanglets are confirmed to be online too.


Blockexperts is down but the Blockchain is running fine, if you are having any problems connecting make sure to use Static nodes listed in the first page of the OP, there is a guide there as well. I have contacted Blockexperts to find out why, going to do some investigating.

Optimus Prime it's primitive staking machine, but it's works well.

Oooo I got a reward of 36 CON from my stake. Cool

For me PoW Coins have no appeal, too.

Why? because i pay 0.28Euro/ Kwh! Mining makes no sense to me. If i want PoW Coins i simply buy them!


I´m only mining PoS Coins with my Intel NUC which is using 11 Watts or something.

Weelets  , Yanglets

And for someone like me, PoW coins have no appeal at all. I guess different people like different things

For me with POW mining, it's all about NOT having the hardware to do any mining that's the problem for me. If you think about someone as a total noob to all of Crypto, they don't know how to mine, setup or configure anything, and the cost of a miner to even get in the game is astronomical, not to mention that it would be very unlikely to ever see any ROI off of it. If there was a POW aspect, then you also need to consistently to uphold security and there is always the risk of a very large amount of hashrate coming in and attacking the chain. Not only do you have to keep mining, POW is much more expensive to upkeep in electricity bills than POS which makes a person forced to sell Coins just to pay for electrical costs.

Proof of Stake costs maybe a couple dollars in electricity month and is getting even more efficient as time goes, I understand that you want to just mine the Coin to get into it but for people who already own the Coin to have POW miners, mining and selling the Coins they are creating, it devalues the Coin. I don't see it so much as price, but what you own VS the entire money supply, so if you have POW then it is really bad to be a large holder in a Coin because you can never keep up with all the sell pressure, you would literally need to buy every POW Coin being sold into the market in order to keep the price stable.

No Proof of work means as time goes on new people are buying from existing holders, it costs less than a couple dollars a month to mine with the Coins you own and since there can never be 100% Stake rate, you are always slightly gaining on the overall inflation, but of course everyone sells at some point so there is always room to accumulate more Coins or even help with some features, promotion etc. for free Coins.

Impossible to POW mine IS the point since there is no point holding on to something that is losing value daily and is a security risk.

 No. Not something that is appealing to me at all.

You've never heard of a coin transitioning from PoW to PoS?

As a miner, you can mine whatever coins you're mining, and then you can exchange them for CON if you want.

Then, after you have a stake of CON, you can mine CON without using an ASIC or a GPU.  That's why you should bother, because you can do more mining.

This is the crux of the issue.

As a miner, and a noob to PayCon, there is zero incentive for me to become involved with the coin if I don't own any already, as it's impossible to mine at this time.

Why should I bother ?

I tried to get in for the lulz, and now I'm just SMH at the myopia of its design (unless that's part of the joke to begin with)

You mine it with ownership of Coins, when holding a coin it is better not to have pow mining because you have outside influence affecting price negatively, if all mining is from holders then they make returns over time regardless of price.

Edit: Let me elaborate a little more, at a minimum age of 2 days people can receive 30 Coins per Stake and as time goes on it increases the active Coins Staking on the network. To hold onto a Coin you want to receive some returns but with most markets there is a small amount of depth so a high rate of return for Staking eventually leads to all Coins being active in Staking and not all holders are going to sell all their Coins which reduces the amount of actual sell pressure. Price being low or even gaining over time, it provides a lot of opportunity to make ROI on Coins bought as you would receive over and above the actual inflation per year as not all Coins Stake and when moving Coins it also takes those Coins out of circulation. If the price is the same but you have 50% more Coins then it is easier to make some ROI.

Also, if there is deemed to be further improvements we can make that can provide fairer distribution for holders, we can also make that change as everything should be on the table.

Split this off from the other thread...


 What is the point of PayCon if I can't mine it ? What incentive do new miners have to become involved with it ?

Nice, it's great when everything runs smoothly

Tomorrow we will have Yanglets coming online as well Now that will be some BIG Blocks but wait until we get into the Immortals It'll be a Tsunami of Coins!!

This was from a small wallet with a block of 500

No, it's based on time. It sends out Coins as TX Fees at set intervals with a random amount of drift time, it's like a range where there is a minimum amount of time (say 2 minutes) with a random amount of time (1 second to 4 minutes) for an average of 3 minutes. When you Stake during this week, you have a chance to hit some of these Blocks and in order to Stake when you want you could hold back some of Your Stake for the days you want, or let it Stake and manage the sizes of your Blocks to be a bit larger for higher weight in each Block. It is recommended to have Blocks of around 500 Coins each.

Random - does your weight affect that? So if you don't have many coins you can still get these stakes? Do you still have to wait 2 days? (just wondering as I keep my wallet open, have since the coin launched and never stake much)

3 minute Intervals
Status: Fixed



http://blockexperts.com/con/height/139553

Approximately every 3 minutes will have 10% more CON!!!

Tomorrow there will also be Blocks of 100% added as well

Woke up just in time for the show

AH ok , thx

It's great, Weelets start in 21 hours. I wanted to give a good headstart so people know about it and can get their blocks ready if they need to, or withdraw from exchanges.

Rich lists are addresses, not wallets.