Topic: [ANN][RDD] Reddcoin The Social Currency [PoSV] Electrum Wallet 1.0.2 - page 81. (Read 688980 times)

Please explain why you have 21674 subscriptions on reddit but only 25 people online? And why you are banning people for asking the question on reddit? I'll keep asking this over and over until I get a response. People deserve to know the truth on this... It's misleading to lure people into believing you have that many subscribers when you don't... Suspect as hell.... Can someone give me a logical answer please. I'm not spreading FUD I just think your community should be honest with new adopters of this coin. An thus far there has been no explanation on this that I have seen. Feel free to inform me otherwise.

There is no penalty system in POS in the way you and the person you are replying to are talking about. Either you are minting coins and they are being optimally aged by the system itself OR you are not doing anything with your coins, and the coin-age could be of less use to you.

If you are staking coins (minting) then the client will automatically cycle your coins so there age is the best it can be. The only users who are "penalized" are the ones who would sit on the coin for months on months.

woah, so quiet all of a sudden.

you are really cool, I expect more features

+1 And superbly put.  A penalty system will only frustrate or confuse.  The POT in FLT was a brilliant solution using existing marketing tactics like reward points on a credit card.  

What I would like to see in velocity is => The more you spend the faster your remaining coins gain age.. Now that would be velocity, not penalty, and would motivate movement w/o a downside for anyone.  You could sit on the coins and still get stake in fair time - But if you give/spend them then your remaining coins will do better POS than if left alone staking.

See how quick we can solve our problems

I am here and have been looking at, it will be better

I looked over them before, as I said. If you can't explain why I'm wrong in 2-3 brief sentences, it might be because I'm not wrong about this. (I am holding a bunch of this coin so believe me I want it to succeed. But I don't believe for 3 seconds that this POSV solution is the answer.)

Please read the FAQ for your questions on the minting and "gaming" the system, especially #3.

http://goo.gl/QvvcZ0

If you want more details, read the entire paper.

http://goo.gl/W3IUBN

Rp2NmLohrPenKReKf9YK5HNJ31KJhn2jMd   
It looks fun

ReddCoin Community: Did you know you can trade RDD/BTC at Austin Global Exchange? We've rolled out feature enhancements over the last week including updates to Chat, Markets, and more. You can automate your ReddCoin trading via our Trade API - just generate your unique API Key via your AGX Profile Manager and check out api.agx.io for documentation details. We've also launched a referral bonus: Get 15 free trades for each friend you refer! Your friends get 15 free trades for signing up too!

Come check out Austin Global Exchange at agx.io!

- The Austin Global Team

Find us at:
agx.io
bitcointalk.org/index.php?topic=507474
bitcointalk handles: "agxio," "AustinGlobal"
twitter.com/AustinGlobalX
austinglobal.tumblr.com

You just don't get it, maybe you don't want to. No one gives a shit about "supporting the network" by opening your wallet for a few hours or a day and making a few transactions guerilla-style to game up the system. Any benefit from this would be negligible at best. And that's not what they are trying to say/do. They are trying to say that this POSV stuff will encourage people to actually use the coin more ie for real transactions which help grow the coin's economy. You know, stuff like tipping people, buying stuff from merchants, etc. Sending coins between your own addresses has ZERO impact on that.

I dont think you read my post.


Yes you could theoretically open your wallet before that decay kicks in, shuffle them around a couple address, and the close it and forget about it till next time. HOWEVER this still benefits the network because you are minting while your wallets open and you are doing this (even for the miniscule amount you do). HOWEVER the true beauty behind this system is that if im a user who uses coins often im being rewarded more than the person who buys them and leaves them in cold-storage (not supporting the network).

+1 Winner!

PoSV is a great example of understanding a problem that few recognize (the need to incentivise transactions or people will just mine-dump, speculate, or hoard coins until they stake and then dump them, just another form of mine-dumping), which is indeed commendable - but coming up with the wrong solution to fix it.

You need to incentivise actual transactions, not penalize the lack of them by forcing users to keep track of accounting games being played with their staked coins.  PoSV is looking at this problem through the wrong end of the telescope.

Fluttercoin had the right idea here, with it's Proof of Transaction / PoS two pronged approach.  With PoT, spending transactions both secure the blockchain (and thus provide a useful network support service) as well as pay a random mining reward according to a number of adjustable, balanced incentive parameters. The final balancing of these parameters still being fine tuned as the dev team sees how PoT is behaving in the wild, but it's real, it exists now, and it addresses the problem with a carrot rather than a stick.

My point is, the whole 'amazing new idea' part of this (according to what they are presenting) is supposed to be that it benefits people who actively use the coin. In fact there does not seem to be any difference between real users and people just shuffling coins between their own wallets/addresses. Thus, this sounds like POS with a pain-in-the-ass "oh I have to move my coins around every so often" factor. I don't think that's going to make it more popular than other POS coins. Thus, I think just POS and not "POSV" would be a better solution.

Thanks!! RbhmYxSnvTGwibc3YxwRMDkcSPFPEphoxE

Sorry it took me so long to reply, had to do some research first. In order to gain any type of reward you have to be minting. When you are minting you will get the most efficient coinage you can to get the highest rewards. I dont think you understand how POS works(To be completely fair, im not sure if i do 100% would be nice for someone more knowledgeable on the subject to drop in). in POS your stake is calculated by the coinage, so typically its possible to get coins and hoard them to let them age then mint them and you would be getting the same reward as someone who was minting daily even though they left them in cold-storage. However with reddcoin the longer you hold them the less coin-age they gain so in order to be most efficient with coins you will be minting them before the decay kicks in to get your maximum rewards. Yes you could theoretically open your wallet before that decay kicks in, shuffle them around a couple address, and the close it and forget about it till next time. HOWEVER this still benefits the network because you are minting while your wallets open and you are doing this (even for the miniscule amount you do). HOWEVER the true beauty behind this system is that if im a user who uses coins often im being rewarded more than the person who buys them and leaves them in cold-storage (not supporting the network).

Edit: For purpose of this post Mining and Minting refer to the same function of POS.

I thought they just said they aren't implementing any of that yet; I am pretty sure the current update is just to lower the block reward and their.... "POSV" concept isn't going in for a while yet.

At least the developers doesn't hold the RDD, it was/is being distributed rather fairly to the IPO investers. It would be a whole other story if all of the premine was controlled by a single entity.

Any information about the 5% premine that now just got bumped up to ~20%?

This is crucial and needs to be addressed.. it will scare people off from buying reddcoins.