Topic: [ANN][QUIT] Quit Dough, Real Products (e-cigs) +Multi-Vendor Vape Site - page 12. (Read 61420 times)

Having it mixed PoS/PoW would be the best IMHO.

PoS is indeed needed very much, so e-cigs sellers do not dump the coins they get immediately back to the QUIT market. With PoS they have some incentive to keep the coins longer. This will help to prevent dumps from sellers to some extent.

PoW (with lower rewards) could be useful to control the price, so it doesn't skyrocket. All we want the price to go to the moon , but its is not healthy for coin like this, there a stable price (slowly growing) is preferable for everyone except day-traders.

Just my 2 cents. The exact numbers on PoW and PoS rewards is the real challenge though.

i think POW/POS is also a good idea with lower Quit per block (25?) and a really nice pos inerest from 10%! im in top 10 wallets and stake not much... so i think that is a rally nice idea! so you can make POS/POW to block 200,000 or so, more people get in and hold for a nice 10%. And i say it again, actually Coin Supply: 5457793.52362261 (QUIT), thereof are 3 Mio Premined. Only POS makes no sense at this moment in my eyes. Block reward cut off is the important thing i guess!

I think switching to POS is a good idea and will attract more people. My idea would be to change it to full POS on block 80000 (around 30 days from now) and then have a POS that gradually declines: for example 30% in the first year, 15% second year and so on and so forth. If you want more supply you could also choose for a higher interest rate in the first year.

Hey Matt. Ok lets make the math: 720 Blocks a day * 25 Quit per Block = 18000 Quit per day|  60 Days to Block 100,000, also 60 Days* 18000 Quit per day = 1,080,000 Quit to pos switch + 5,457,800 (Mineded Coins+Premine) ~ 6,500,000 Quit when pos switch come. 6,500,000 with an yearly interest 5% = 325,000 Quit per year, 30 mio max Coinsupply. This szenario takes many years to reach the max number of coins, i dont know is it good for this coin? what say others? and when we make a scaling interest when full pos come like : first year 20%, second year 15%, third 10%, than min 5% per year. But with this big interest your have after 5 years only 10,500,000 Mio Coins. I think Quit Dough must spreed out to the people, need more miners and a longer pow phase, more attention on the markt and every where, new markt like bittrex. i think a coin likes this one must reach the max Coinsupply in 5 years or so, 20 or 30 years makes no sense or?  Your shop is allready working matt? every one can buy with Quit Dough yes? Than we need an big Articel plus an big exchange, otherwise nobody cares in your coin. When this Coin gets Attention, and get an easily Entry for people who dont know what crypto is but need E-Cigs, than we go to Skyrocking! Thats only what im thinking, have a nice day and looking forward!

Cheers

Hay Ruff
Do you think 5-10 would be to low? Its tricky to work out the right level, my head tells me maybe about 25 per block, but its tricky to know as its not a pure science. Also do you guys think the POS should go up at the same time from 2% to maybe 4-5%?

Cheers Matt

Hay Mick
Yes the team is going over and over the best way to go and maybe the simple way is best, block rewards decrease.
Cheers for the input

Matt

You know block 100,000 is in ~62 Days, thats over 2 month, much time and the dumping goes a long for this time. I think the blockreward must reduced dramaticly NOW, like 5 or 10 coins per block in POW. Your buisenesplan standing, every one can see this coin had a real use, so you can do this with blockreward, that can only be good for this coin! Than POW shut down on block 100,000 and go full POS with an nice interest for the people.

mfg

Yea in this case I say Fuck miners ..omg did I just say that...   This is unique in where u have your intrests to protect.. either that or reduce rewards to like 1,per block or less that'll kill inflation dead.

I put up a ANN on the idea of Quit going 100% POS at block 100,000

After [QUIT] Quit Dough has been hit hard by mining multipools we have decided to turn the hybrid system of 50% POW and 50% POS to become POS 100% at block 100,000

We are looking into a system like PPC for minting wallets.

The team has been going over all options but to be able to pin/hedge products like nicotine liquids or electronic cigarettes to the coin it needs to be more stable than the current mass dumping from multipools.

As always we are open to ideas on the best way to go and what type of staking/minting and rewards.

So what do you think?
1. Use a POS minting system like PPC does?
2. Vary the POS where its 15% till block 200,000, then 10% at block 250.000 etc


The current Quit setup is:
Algorithm: X13
Type:POW/POS
Total Coins: 30,000,000
then 1-150 (1 Block )
then 100 Coins per Block
BlockTime: 120
Difficulty Re-target: Every Block

So please any advise or ideas would be great, we like to hear the good and bad points, especially from people that have seen the  best or worst outcomes from moving away from POW..


Cheers Matt

Thanks for the support Mick

Matt

This is awesome. finally . u guys are so cool.
This is what crypto needs a niche to fill. this makes it all worthwhile. Quit is a real for profit biz backed by crypto.  What more do u folks want.      This thing hasn't even begun. All of us are lucky they chose crypto to facilitate payments. They could have just used bank drafts and western union, but they didn't.  Kudos

We have got about 7 vendor sites up and will have more up each week and as they are needed.
We will open up places for the next round of vendor stores in a few days and get the first lot ready to go as well.
All going to plan and time.

Cheers Matt

Excellent news. I'm doing my best to accumulate a bit of QUIT while the getting is good and maybe have my own storefront in the near future. Which payment options are you trying to adopt and which are currently available?

Thanks.

Hi Whats
Its day to day at the moment with what we are doing and there's a lot to do, So today we will be uploading a few more vendor places that have been made offline and then doing more vendor store fronts offline, we are in talks with a few companies to open up more payment gateways options and then some of the team are doing marketing on social media.

The next few days we have other things like getting the interactive giveaway game on the site up and running just how we want it, then we will be contacting the vendors to open their sites up but we need to finish the documents on how to run a store/and how to get sales etc and the list goes on and on for what needed to be finish and what next we need to do.

Cheers Matt

Hey Matt and Quit dough team. What's going on these days? I know you're working hard behind the scenes and I'm looking forward to the next update. Keep up the great work!

Bounties sent out for works done.
Thanks Pineapples and mikaljan

Busy week again and a few problems solved so all up a good week.
Next week back to it, and getting the first lot of vendors up is top priority.

Cheers Matt

Great feedback Pine
Lots to think about, we will not make any rush moves as there is a lot to work out for the best outcome.
But you gave us more to think about.

Cheers Matt

i guess PoS rewards should be based on desired coin count vs security. ( not to forget the awesome divisibility of crypto, enabling even 5million QUIT to have a much larger $$ value )

larger PoS% earlier on may encourage users to stake, but it will also encourage smaller distribution of coins. this may give rise to some volatility should QUIT gain some value as larger holders dump.
potentially giving large holders a chance of price/product manipulation.

another thing to consider is keeping a healthy proportion of pre-mine for using as network security in the early days.
i cant remember the coin that was succesfully attacked because a large % of coins were held on exchanges, so only a small % were needed to create a 51%

--
ppc is soon to be introducing cold wallet coin minting. which will help with wallet security as the necessary privkeys for moving the coins will not be exposed whilst making them available for minting.

Wow looks great! Keep up the good work
So my view for what it counts, changing to POS would be good as yes the dumps from the big mining pools are not good.
getting the higher % sounds like a good idea
Still my favorite coin yet so much going on in a real way

Yep ill wait and see what others think and go from there.