Topic: GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :) - page 1331. (Read 3377922 times)

Lets do a little example with PayCon Staking!

PayCon Stakes at 30 Coins per Block in all Blocks at 1 minute per Block. This makes PayCon generate 43,000 CON per day, every day or 15,800,000 Coins per year, wow!

Staking starts at 2 days and a maximum of 14 days of Coinage

Current supply is 3.4 Million

Only 30% of the supply is actively Staking but the Coin generation per day is fixed

This means that if you owned a large portion but in large Blocks, you would Stake at the minimum Stake age but would still only generate 30 Coins in a Block where you could generate more with more Blocks of a much smaller size. If you held your Coins but never Staked, you would lose approximately 1.3% per day.

If you were Staking constantly, your share of the 43k per day would depend on the amount the float actively Staking and their Block sizes compared to yours. If only 30% of the Coins were actively Staking with average Block sizes, you would on average gain 3X on your percent of the supply relative to the increase in supply a day. PayCon actually has higher initial inflation than PayCoin, but higher inflation isn't a problem if it's equal across the board, a fixed amount per day and no costs or staff you need to pay.

The reward for PayCon at 30 CON per Block was only supposed to be the maximum and not a fixed amount but no Proof of Stake Coin has ever dealt with a fixed amount per Block and IMO it's actually better to be a fixed amount because it encourages more active Staking and better security of the network.

PayCon, Proof of Stake only, pretending to be Proof of Work

http://blockexperts.com/con

Just pondering ... the "paycoin foundation" is run by someone who apparently lost a lot of money (personal money? his church's money?) on paycoin. If the same sort of claims were made to him that were made to the guy in Mumbai, fake "insider" information about deals with paypal and so on, then I wonder if this might have been a hostile takeover. Maybe he thinks he'll recover more of the money by trying to make a success of paycoin, than he would by legal recourse.

With control over the paycoin/paybase code they might try to turn it into a viable coin. Getting Josh out of the picture would be a positive step. Getting rid of the hyper-inflation and burning the excess coins would be a show of good faith that would be easy to do.

But then what? The problem is, without major funding what can they do that would even justify the current market cap of over ten million? Even if you had a significant development budget, which doesn't seem to be the case, what could they do?

Getting rid of the bad stuff in the code just takes you back to having a peercoin clone. Even if they could scrub the stench of scam from it there's nothing about it that would appeal to major retailers. The original whitepaper was junk. The zincsave browser plugin failed before they bought it, but it's probably the best thing they've got to work with.

As things stand it has less going for it than a lot of clone coins with market caps one tenth the size of xpy's market cap. For what it currently is, it's massively over priced.

Funniest thing I've seen all week.

No, it won't, because nothing will happen. That's like saying a blank wall will be interesting to watch because a flaky, unreliable artist says that someday in the future he plans to paint a beautiful mural on it, but right now he can't afford paint.

The newest Blockbuster release from GAWd Productions:



Coming Soon™ to a theater near you! Rated PG (Pathetically GAWd)

The code doesn't differentiate between generated or "original" coins.

That's why it's exponential.

Hyperinflation in itself isn't necessarily a bad thing as long as every coin wallet inflates equally.  This is being experimented on through Hyperstake (HYP) and the coin's value does exactly what you would think it does... decreases as the money supply inflates.  The difference between the two coins is that every wallet stakes at the same rate so every HYP is inflated equally (assuming every HYP competes for stake) while XPY inflates disproportionately, favoring up to 50 wallets.

This, using simple math, means that everyone's wallet will not inflate equally and, therefore, will create exponentially increasing downward pressure on the non-favored wallets' value.

If Vlad2Vlad was  a reptilian he couldn't even develope out of his egg shell.

This one I shall watch with interest as I have a friend that is doing a remittance business out that way. It's a small world

AS for the ATM, again, this will be interesting to watch.

If you did your research you would of realized the simple fact that the value of any XPY held outside of a "prime" wallet decreases exponentially due to the code exponentially increasing the money supply thanks to compounding interest that sin't equal across the board.  Even if you hold the same # of coins but without a "prime" code you're on the losing end of the game.

Assumptions:

1) Stake rate is averaged and encompasses all stakes in a given day (typically 4).
2) Using math pulled from the code as show (5 wallet = ~.01% daily, 350 wallet = ~.96% daily)
3) All coins are left to the design of the source code and are not touched for the entire year.  (i.e. No manipulation)

125,000 @ 5% after 1 year compounding (365 days) = 129,646.55
125,000 @ "350%" after 1 year compounding (365 days) = 4,087,142.75.

Human manipulation would, in effect, create ~1/4 of the stake as seems to be done at this time... But I stress again that this isn't the code.  Hopefully I wouldn't need to tell Vlad2Vlad that though...

So...

125,000 @ "350%" after 1 year compounding (365 days) and with human manipulation = 299,844.56

So, with human manipulation of the source to "ensure" fairness the GAW wallet still has a little over 170,000 more coins than a regular user's wallet after 1 year.

Don't let me spoil your fun though...  math is fun, isn't it?

and the 38,000 XPY generated and sent to this address is the same amount of total XPY generated in the last 24 hours.

During a previous week, Feb 1st-8th 400k new Coins were added to the currency supply or approximately 60k a day, the reason for the drop is because now they have Coins being sent out of the hashstakers into a collection address. If GAW were to have 50k XPY in all their hashstakers and left them there, there would be more than 1 million Coins generated in one week.

38,000 Coins for me, and 20 Coins for everyone else.

Happy dumps for everyone!!!

Fear not my son, the Prime Controllers are in the hands of GAWd God now...

https://chainz.cryptoid.info/xpy/#@inflation

Click on "all time" then go back one month. It's gone from 12.4 million coins to 13.6 million coins in one month. That's about 10% per month, or a little over 300% per year.  

It's actually more than that because the current amount of hyper-inflation kicked in a little less than a month ago, and they also destroyed a bunch of coins one day after they got caught moving them to an exchange. It's potentially a lot more than this because they haven't turned on all the hyper-inflating stakers yet.

Meanwhile...

https://chainz.cryptoid.info/xpy/address.dws?P9HwdnKRZD5niS7ua9pSV4DnjKxRPHw73Y.htm

has been fed with 38,000 XPY in the last 24 hours, and that's only from the 100% hashstakers

The 350% hashstakers aren't even being used at the moment according to the PayCoin Block Explorer and Coins are being pulled out of the Stakers once an hour in order to limit the amount of hyperinflation, otherwise XPY would be generating at 1 million+ Coins a week.

Edit: I found a 350% hashstaker https://chainz.cryptoid.info/xpy/address.dws?PQ6PJmpSVqiNZZZKbYxccQzFVoUzebqUS3.htm

lol man its like you're some kind of psychic posting those gene scott clips in the past and here we are

mind = blown

Hmmm. I wonder if a preacher can also be a con-man?. Probably not, just keep donating to the Church of GAWd.

http://www.wikihow.com/Convince-Anyone-of-Anything

While the above link is more humorous than anything else, it points out one glaring point:

You need to be the only one the people are listening to in order for the con to work.  If the facts or the community doesn't support your claims, turn the game on it's head into an "us vs them".

im pretty sure this is magical thinking again and nice words on a paper. of course there is no road-map. no technical information about this ATM terminal. is it produced inhouse or btc terminal transformed. how many are planned. is it xpy only
no names of partners. no name of the person whos story is being told.

i guess its planned that there is no information that could be confirmed by a third party. its sick to leverage something like this

Homero has a disciple maker at the helm now I dunno if you guys know what that means but... wait what does that mean?