Topic: IncognitoCoin - POS 200%, Should we change the POS %? If so, whats an optimal %? (Read 2499 times)

Update:

We have decided on implementing a change to the POS %.

Through a community poll and chatting with various community members we have come to the decision to change it to 5% annually.

We are now discussing this with the Dev team & we will inform you what the ETA will be. The Dev team has already mentioned that it can be changed quite quickly, so stay tuned.

Thank you.

the amount the devs are considering is between 5-10%. you should hear from them soon to implement this. have a chat with them on IRC #icg
to verify

200% is too much, it will generate a lot of inflation, and the price will go down because the large number of coins generated every day. For sure a 5-15% it's better.

how long until pos change happens and is it going to be between 5-15%

15% if a lot better. Way too high right now

5%

Even though the advertised Pos of 200% is in reality only 15% per year as the staking in the wallet doesn't function correctly, as I have stated multiple times, I indeed agree that 200% advertised or real, is not the way to go and should be lower. If people see 200% they just don't do anything with it, which is not good for a coin I believe.

I would also make it <10%.

But please try to code the wallet and staking in such a way that in reality it will be <10%. At the moment whenever you get interest from staking those coins appear to not be stakeable for 24 hours, hence it is 15% now instead instead of the advertised 200%.

So if you can do the above, then in reality there will not be so much difference between 200% and 10%, except that people are more inclined to trade and/or use it.

when will a final decision be made 10% pos i what im ok with

200% is insane and totally insecure considering this coin would survive more than a year..
<10% at least

Usually about half the coins (sometimes less, rarely more) will be staked. So 10% interested really works out to 5% inflation.  Personally, I've wanted to try a coin with 0% interest and decent transaction fee to reward the people who are actually supporting the network, to control inflation, and to increase liquidity by not rewarding saving. Is this coin going to be a "store of wealth" or a "currency"?

5% pos

+1. 10%

3-10% Anything above that is way too much inflation imo. Also, the higher the rate the less the trading. Trading is essential for the coins price, volume, and longevity.

+1

All very good answers, keep them coming.

Either make it 10% or have it only stake when the wallet is open and make it 20%.

Depends on what the goal of this project is.  Many coins have very high PoS rewards yet thrive, TEK and HBN for example.  But no one is pretending these coins are a good store of value.  They are trader coins.  Is the compound interest of holding my TEK for a few months going to outweigh the effects of inflation?  I don't know.  It's a bet traders have to make.

If a coin aims to be a real currency and store of value, a lower PoS reward is preferable.  If the community is in it for the long haul, I prefer the structure of steadily falling PoS rewards.  Say 200% for the first year, 100% for the second year, 50% for the third year, 25% for the forth, settle around 5% for every year after that.  It rewards early adopters yet ensures a steady stream of new coins into the market to increase liquidity and grow the community.

It all depends whether the goal is to be an actual currency or a coin for traders.  Of course even BTC attempts to be a coin which is an actual currency, yet ends up being used for trading and speculation.  So you are kinda damned if you do, damned if you don't.

Personally, I am holding some ICG because I am a sucker for high PoS coins and the coin has a lot of room for growth.  Generally I only hold alts in a local wallet if it offers 20%+ PoS interest.  If it's lower than that, I'll store them at an exchange.  Too many alts out there to bother keeping a hundred different local wallets.  Right now, the high PoS is probably good for the coin, but if development continues and the coin adds value in other ways, it won't need such a high PoS % to encourage people to hold.  I am enjoying the steady stream of ICG being added to my stack daily but understand if the decision is made to reduce the PoS reward.

So I didn't vote, because I am neutral on the question. 

I am right there with you. I believe it is a limitation placced on new accounts or those with currently limited activity. However I have not properly read into it yet, so someone correct me if I am wrong here please.

Just this one i'm afraid, I read loads on here but never write. I am relatively new to trading coins overall about 6 months.
So new in fact I do not know how to vote.

Cheers
Wayne

Riley5751 ,whichone is your real ID.