Topic: HyperStake Development Journal (HDJ) - page 2. (Read 18423 times)

That community involvement only matters in the long run if there is also a good technical background. Doge only has the first one and, especially after Zer0sum's post on the ANN, I'd like to believe we have both

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Interesting. This would mean the network will become more and more secure with time. So the HyperStake network could be used for 2.0 uses (storing data like contracts, for instance). I like it.

Update: I edited the Wikia article on max generation.

There has been a lot of talk recently about this "max generation" limit. Here are the numbers I think we should be basing our analysis on.

At the moment of writing this:
The last 960 blocks added 500,014 HYP, average of 521 per stake
Last 6720 blocks added 3,397,835 HYP average of 505 per stake
Last 28,800 blocks have added 11,901,493 HYP, average of 413 per stake

The max generation by definition is when each stake will be 1,000 HYP, thus hitting the ceiling each time. Right now we are about halfway to max generation.  I don't think we will hit max generation for a long time, because people will always be trying to size their blocks small enough to get rewards that are less than 1,000. I think what really is going to happen is that there will be a fight to stay under max generation, this will mean smaller blocks, and smaller blocks will mean higher difficulty.

So best thing is to keep an eye on difficulty for now.

Soon (Zer0Sum said 6^th of December), the second inflation control mechanism, max generation, will kick in. Max generation ensures that no more than 960 000 coins are generated each day. So, except if the amount of stackers goes down a lot, the days of 750% APR will be gone and HYP will have a more traditionnal 200% (then 100%, 50%, 33% after fourth year...)
 the difficulty will begin to rise quicker than it is now. So you will either have to keep smaller blocks, or bite the bullet and use larger blocks that will stake faster and hit the ceiling. The rate is only changed for those that decide to go for the faster stake. (correction by presstab).

Which consequences for the coin? What follows is pure speculation from me:

• Temporary price increase as we approach the "block halving" (which is technically not a block halving). Then dump just after then correction to a more regular price, which might be lower or higher than the current price - I do not know how block halving translates for other coins' economies.
• Accusations of fastmine
• Less interest for what is suddenly "just another TRK/CAP" - This means that we then must communicate on everything else than high interest rate, like HyperPool (the most important), HyperLoan, advanced coin control, other features we will have...
• A stop at the increase of difficulty, since staking is not that interesting anymore - except if the price rises
• Others?

And you, how do you see the effects of max generation?

You have been about the most enthusiastic supporter of the concept of cryptocurrency, with little favoritism, that I've encountered. I, for one, am glad you're here.

Awe thank you for giving us an honorable mention.   

We incessantly repeat that PoS is first and foremost a mining method, an alternative to PoW without the megawatts - see bitcarbon.org for the ecological footprint of PoW.
Like PoW, PoS aims to ensure decentralised network security and meritocratic distribution of the tokens (the more you mine/stack, the more your chances to get a token).
And, like PoW, the mining, if successful, become more and more competitive. Solo mining is over for all but the most powerful miners (professional ASIC farms). If you want to have a decent chance to get some tokens in a reasonable time frame, you increasingly have to resort to pool mining.

And that's the same thing with a successful PoS coin like HyperStake. High-profile stackers, which have huge "mining power" (i.e. a lot of block for stacking) can get most of the reward. This will discourage lower miners to ever try to stake(I still remember the early days of Monero, before there is a pool). This could ultimately killing the coin - like in nature, an apex predator kills its ecosystem). That's another rich man's problem that I was not even aware of, so thank you Kushed (and mtwelve, the originator of the idea) to point it out and... to give a solution.

The same way small shareholders in a company unite as an "association of small shareholders",
the same way small miners in a PoW crypto unite in a pool mining,
we are proud to introduce the very first (to our knowledge) pool mining for proof-of-stake, HyperPool.

This is very early, it is mostly manual for the moment and in order to scale, it will have to be automated. Still, I believe it is a great news for HyperStake, because it means that we grown successful enough to have a need for such a tool and that this tool will keep the coin viable. Once multisend will be implemented (and presstab is working on it), there will be an option to send part or all of your "mining power" (staking power) to the HyperPool (the option called "PoolStaking" in the mockup).

I love these experiments! HYPxperiments!

Thank you for that answer! Very informative.  

Also brought a whole new headache senario thinking that the diff will be lowest when there is most incentive to cash out price wise.

I know I will be debating with myself whether to stake at low diff or sell during the next spike..  

Good question. One thing you can immediately see, is that HYP diff is in waves. Up and down. This was caused by the fork we had, where all of the age was concentrated in one particular time. After block 90,000 the "natural" wave got worse, I think because of price increasing and more people destroying age to cash out, and that two of the top wallets accidentally destroyed their age and had to start back from 0 age.

I would say that there is a good chance that the recent spike is due to price coming back down to earth, and less pressure to cash out and more pressure to stake.

Of course other things are possible too. With an expanding money supply, difficulty should go up overtime naturally.

Is there any special cause for that spike in difficulty?

A quick questionnaire on IRC showed yesterday that most HYPsters are in the 30-40. So, older than the usual crypto demographics. That's a start os statistics.

Also, speaking of statistics, presstab just posted this graph of the difficulty:

We don't try to stop nonbelievers and dumpers. It's your decision. Please, post your emotions in the ANN thread.

very informative, very fun.  now i must pressure waxo about this pi... if i have to reflow it one more time i am throwing it out the window

I think we need to develop a catalogue of our potential users, so-called customer portrait, with their faces, average backgrounds, life priorities and values etc. Then we will see who do we aim for. This coin needs marketing. If we want merchants to notice us, we need to have a production form ASAP. Otherwise we will stay a coin on the development shelf forever (and probably will be outcompeted). There were some associations in Polo trollbox.

We have more ideas than abilities for the moments. I said before that I like to kill several birds with one stone; I also like to avoid reinventing the wheel.

I would like we focus on working in tandem with other coin when it will makes us grow stronger. Here are the one I identified:

• Mintcoin: charity with Mintcoin Fund
• Noblecoin: marketplace
• Maieuticoin: hardware wallet
• Qibuck: multipool

Opinions?

What do you think, guys, do we need some typography redesign? Probably we could find an unusual or just released typeface, for example:



We can use it with our coin image.

I agree Crazy those things are all well and good, but those things cannot happen at a good pace if there are the current hurdles in place just to buy Hyperstake. By this I mean what really needs to happen is that we need to create a website that takes USD for Hyperstake. A coinbase so to speak for HYP. A direct conversion. Eliminate bitcoin altogether. If this happens, not only will HYP be the first to be a standalone altcoin (hate that term) but will show the world that bitcoin is no longer the bar on which everything is set. HYP will become its own entity and thus growth will explode. Let's somehow figure this out and make it happen. A leader always wins in the end.

(the title is unrelated to the supervillain of the same name)
Things are moving up way too fast.

Not so long ago, HYP was #2 or better in volume on all markets at Poloniex


Today, it reached marketcap position #38


And position #23 on coingecko. Notice how we still have a lot of potential in comunity and even more in public interest


Diff reached 1.5.


Price ATH



On a less "stormy" side:

Great quote by presstab:
That's the difference between Dogecoin and HyperStake. Both are meant for fun at first (and garnered an important and devoted community), but HyperStake came with a technological differenciator that Doge did not have (and was not mean to have anyway, that was not the point - and the random bonus doesn't count).

We are doing our best to make HyperStake even easier to. use optimally. The more we are widening the adoption, the more it is important to provide a seemless experience, which we do not provide yet despite our best efforts.

By the way, Coin Control will be renamed to make it more explicit and more exclusive to HyperStake. I will let presstab announce the new name (that I already like).

Oh! And, in the context of HypBerry, Lieutenant Commander Waxo will offer a Raspberry to one lucky person. Details are not public yet.

I don't dispute the effects of repetition. It is one of the unavoidable side-effects of natural language, which is not static (despite the best efforts of entities like l'académie française). Whenever a meme gets well-known, it gets exploited and distorted by various interested parties until eventually it changes its meaning completely. The word drab used to mean prostitute, of all things. So, imho, it is tilting at windmills to enforce lexical usage. That said, the Lambo joke is pretty stale by now. You won't see it from me again.         

I see high PoS as something that, as more ppl understand it, they will invest because, the yields are higher than anything you can PoW mine.
And I hope I'm wrong on this, but a great influx of investors can only up the price, and eventually undo the entire experiment. I will enjoy the ride while it's here 

I'm just concerned that by keep repeating it, it starts to be considered a given. Resting on laurels and all. But I'm French, and French are known to be judgemental (althoug waxo would disagree)
Crazyloaf, I mentionned this on my mail to Bter: contrary to Doge, we have some serious technology behind us.