Topic: [ANN][ENRG]Energycoin - Android Released - Bittrex - - page 11. (Read 334702 times)

You guys might want to take a hard look at goldpieces coin, and use it as a model. Its BRILLIANT. Its kind of hard to explain, but Ill do my best. See, the hot trend now is ultra high pos coins. Its all the rage. The problem with it, is inflation. A coin that has 500% pos and a min stake age of 24 hour min, will, in a very short time self implode due to inflation, and become worthless. Goldpieces coin found a VERY clever way around promoting and giving 500% apr stake reward per year, and it truly is 500%, but in a strange kind of way , and it has single digit inflation. Coins retain their value when there are less of them, and vice versa. What goldpieces coin did was put the max reward of 2.5 coins per 100 coin block using coin cointrol. So 2.5 was the cap. The dev promoted this as 500% apr reward, and this was true. The catch was to get this rate, you had to put your coins in blocks of 100. The wallet would actually pay LESS if large blocks were made. For example blocks of 1000 would create .6 coin, and split, then the two blocks of 500 would split and reward .8 coin each, and the reward would go up to a max of 2.5 when blocks of 100 were split. The dev knew 90% of people were not going to sit every 24 hours and break up a massive wallet of 100,000 coins into blocks of 100, so inflation is minimal and value remains high, and new investors are flocking daily. So the goldpiecescoin is very valuable at around 4500-5000 sat each, and price is stable, and has not gone down, and inflation is probably less than  10%, at the same time attracting new investors, and if you read goldpieces coin, everyone loves it, I know, Im at the top of the richlist. So, just some ideas, you could look at the source code and use this as a model. There needs to be a reason to attract new investors, and high pos is all the rage right now. Im heavily invested in all of them. The biggest issue I see, is this coin is horribly inflated, and Im affraid to say that with 110 Million coins, its near impossible to raise the price. Perhaps create Energycoin 2 , and do a 1000:1 swap to reduce inflation and coin count, thus raising the value of the coin as Energy2 is released. I do like energy, I picked it 600k of them cheap at 24 sat. Everything works very well, it just needs some good pr work, and marketing, and an inflation fix.

Vegas

Ok thank you Ranlo! I go see how we can build that. Maybe we need external expertise.
If others who read this and can offer help or sugestion how to build then feel free to post.

I like the idea of a lottery-type system. I think it would be a great implementation, as long as it doesn't kill the current PoS system.

Or tipbot on our IRC. Now it a desert there.
I had also an offer of the human pouches
Check: http://energycoin.pw/forum/index.php/topic/280-las-vegas-crypto-coin-and-business-promotion/
Then people visiting Las Vegas get paper wallets and can spent them and maybe go use our coin.
I think the exchange rate is now to low for such promotion but we can consider.

I work also on citizen participation projects but it takes time to find the right opportunity.

I like the idea of a kind of lottery application for wallet online.
But then you have to buy tickets and each hour or daily random payout if your wallet is online.
Who can build that?

I have so many idea's but I need people and technical support to implement.
I can also support with ENRG donation if needed.
 

I'd like to see a tipbot on twitter... It is always good for coins if I can hand them out

 I don't want to get in the way of the current topic but would it not also enhance the value and usability of the coin to try and get some circulation going? I mean buying them from an exchange is ok, but i would welcome an easier way to earn some Energy as well. any idea that has the potential for people to actually do something constructive to earn the coin would enhance it's value and get it into more people's hands.

I think I have to follow the senior members into this discussion.
Some extra reward for keep your wallet online I support but in combination with POS as we have now.
Is it maybe posible to introduce in lottery and each day we give 1000 ENRG to random online wallet?

Is it technically not possible  to do something like this?

Algorithm: most energysaving
Money Supply now: 110 000 000
Max money Supply: unlimited
Block reward: Each hour 1000 ENRG  will be sent out to wallets that have been online for the past hour. (if 10 wallets are online, every wallet will receive 100 ENRG)
ENRG supply year: 1000*24*365=8 760 000

Holding coins only for getting more?
What if you have more coins with less value?
The value is important not the quantity?
As I said:
The idea behind this distribution is to involve more people in Energycoin --> more ideas, more help to devlope the coin/project.
The more people involved, more likely to succeed your project --> possibly more value.



More opinions about this?

Technically we already have a min/max with the current stake... with the maximum being however much you can earn in 30 days. Setting a cap on overall coins has a negative effect. Let's say I'd stake 800 if the system would let me, but it's capped at 300 coins. I'd just load two more wallets (pi or elsewhere) and split my coins into 1/3s. Now I can still get all I'm entitled to. Basically the change would only hurt legitimate people that want to run a single wallet.

Thank you Ranlo you are a wise man. I see now that just give away coins for only suporting the netork is not the right way. Maybe better then to take into account the number of coins you hold with an maximum reward. Also a minimum of cons you have to keep to take part of the reward program and some luck factor.

I don't like this idea... it basically means there's no reason to hold coins anymore. Just open empty wallets on each device you have and you get the maximum number of coins allowed. Since it isn't based on how many you hold, there's no reason not to continually dump them at that point.

Clear! I think it is also more fair. Reward is limited to 1000 ENRG regardless of how many coins you have.
If this is posible I vote for this.
It is good for the netork.

You don't have to pay with your funds.

Change this:


to this:

That is true and I support where I can.
But the coins for reward has to come from somewhere.
There is a reward program for the PI 10K ENRG if you prove you have a PI running.
But paying ENRG from my own funds to other people when they are online I have no intention.
I like the idea for rewarding time online and the posible funds are the stake for EnergyCoin if posible.
People with wallet online get extra stake and not online or funds on exchange get no stake.
If this is posible to code in wallet software I like it but I do'n like to pay for online time with my own ENRG.

I don't know if (or how much) inflation is "good" or "bad"

^^
This is also "unlimited inflation"?

The idea behind this distribution is to involve more people in Energycoin.
The more people involved, more likely to succeed your project.

I discuss this with EnergyCR and see what is posible.
I know there was also a reward voor VPNCoin if you were online but we need software for monitoring.
But how to get coins for payment?
It is not good if we introduce unlimeted inflation so it has to be payed from the current stake I say.

I don't know  whether it is technically possible,
maybe something like this?

Algorithm: the most energysaving
Money Supply now: 110 000 000
Max money Supply: unlimited
Each hour 1000 ENRG  will be sent out to wallets that have been online for the past hour. (if 10 wallets are online, every wallet will receive 100 ENRG)
ENRG supply year: 1000*24*365=8 760 000

This is a nice idea but how to finance?
I can contribute some of the ECF budget but maybe we can change the wallet software?
The stake you can earn is only posible when the wallet is online and is based on the total stake for all the coins.
example 10% per year = 0.001 % per hour = 100000 ENRG stake/hour
Online 25M then reward is 0.004 % stake eg 400 ENRG if you have 100000 EnergyCoin online.
I like the idea and if it is posible to code I say yes we switch to that new protocol.

What do you think about the idea for ENRG to implement a distribution system based on MCL?

Each hour 1000 ENRG  will be sent out to wallets that have been online for the past hour.