200% POS well after the fact
as bad as ninja mining
It will be well over 60 days notice, hardly stealth. I personally didn't own a single CAP until after I started posting in this thread.
Those who do not want to participate can sell at a nice gain. And those that do, are still able to buy fairly cheap..
Also look at the inteview with Sunny King. Even he is realizing 1% is just not enough. Doubt he will go 200%, but this is not PPC!
Seriously changing any reward whether it be pow, pos, on the fly defeats the whole point of a trustless system., either its done innocently (out of stupidity) or its a scam....the way its promoted in the header......well
I posed this to the community, and I left it to them. It responded with almost resounding yes. I think the market has also made it clear this direction it wants to go.
Obviously but do you think they made the decision based on whats good for the coin/cryptos or simple greed? hey everyone do you want 200% interest or not
..........
I think both for sure.
Hey I'm still a newbie but please do not overread my post! I have been following Proof-of-Stake coins for quite a while. Here is what I have to say:
I think the discussion whether PoS reward should be 1%, 100%, 200% or whatever misses the point that the height of the PoS reward must be seen only in comparison to the PoW reward. The rest is just numeric illusion, i.e. psychology.
And the importance of the PoW component in PoW/PoS-coins is highly underestimated. It is for coin distribution! Coins like Nxt, Mintcoin, Blackcoin and now XC are very similar to pyramid schemes, because there was either no PoW or only for a very short time.
In Hobonickels and Bottlecaps there is permanent PoW mining, which is good. However, the PoW component is completely unresponsive to the market. Newly mined coins flood the market when there is no demand, and that suppresses the price. This happened to both coins until Tranz stepped in.
So why not try a whole new approach, the opposite that Peercoin is doing:
Lets reduce the PoW reward if the PoW difficulty goes down, and increase PoW reward when PoW difficulty rises.This should have a stabilizing impact on the price.
So for example with factor 16 like Peercoin, but with the opposite effect:
PoW Difficulty = 0,625 => 5 Coins mined per Block
PoW Difficulty = 10 => 10 Coins mined per Block
PoW Difficulty = 160 => 20 Coins mined per Block
PoW Difficulty = 25600 => 40 Coins mined per Block
As PoS reward I would suggest 10%. This should be enough to incentivise Minting to secure the network, but PoW would be crowded out only very slowly. With 200% PoS reward, we would effectively become like Mintcoin, Nxt, Blackcoin etc. very soon. I doubt that we really want that.
This design would stabilize the value of Bottlecaps. Low price => less inflation; higher price => more inflation.
Maybe such a coin exists already, but there seems to be none of the more prominent coins having such a design.
If we go with 200% PoS, and keep PoW as it is, I predict that we will see a flash in the pan when Tranz publishes the new client-version and around the time of the hardfork, and then Bottlecaps will continue the downpath.