Topic: [RE-ANN] GrowthCoin PoW/PoS - 100% per year - Version 1.3.0.1 - page 13. (Read 66388 times)

Hopefully, more people will start to support the good POS coins that have a way to go up, now that they've lost big on so many.  I am awestruck by both the intelligence of some people in crypto and the silly hoard-following nature of others.  THIS COIN NEEDS SOME SUPPORT.

yes sir I am going to try and finish up some of the changes this week get them published to the GitHub fork then will have to get some nodes up and running and test using testnet wallet and changes and as long as everything is stable and working on test net I am hoping mid month I can start putting the word out on the changes and hopefully get some interest back surrounding the project

as for the current wallet I will boot mine up and let it roll been off for the last 2 days I try to keep it up as much as possible

Good work on the poll graphs.

We need more people to keep your wallet open.  It's like a money machine right now with few wallets open.  But if everyone drops off, then that means more CPU needed for each wallet open. 

here are the results from the community poll

what happens when the last 6 or 7 buy orders are gone ? that's what I'm looking at then whos going to buy your stake? the markets are a fraction of an inch from folding I'm prioritizing the reward changes if you take a look and see something that can be changed to help with wallet bloat post it here its on my list of things to do

affirmative sir as long as the majority of grw switch wallet versions along with putting in more nodes connected to the new chain vs the old chain nodes should that not allow for the fork to proceed smoothly I have never tried to fork a moving chain I have restarted coin chains or will the old nodes need to be shut out of the new code?

That github came from:

https://github.com/sherlockcoin/growthcoin-resurection

GrowthCoin - a fork of Diamond, with several algorithms fixed and improved. It is decendent of Novacoin/PPCoin with Pow/PoS. It combines the great features from Luckycoin (random blocks) and Florincoin (transaction message).

Proof of stake coin is more resilient to 51% attack. Since 51% hashpower is not enough to execute a 51% attack. The attackers must also have at least 51% stake.

GrowthCoin provides monthly interest rate of 5.95%, for stakes that are held during that period of time. This equivalent to an annual interest of 100%. PoS blocks will be generated if the stake are held for more than 5 days. There is a hard limit of 2 billion coins.

- Each normal block has 100 coins
- 45 seconds block time
- Difficulty retargets every block
- Mining payout will be halved every 3 months (or every 172,800 blocks)
- Expected total mined coins will be 37,368,000 coins
- 3 confirmations for transaction
- 50 confirmations for minted blocks
- Support transaction message

- Hourly random bonus block of 500-1000 coins (that is, 1/80 chance to get a bonus block).

Have you done much to reduce the load of the wallet?  It's using a lot of CPU/Memory.  Do you use Github?  Can you share your address there so others can look at the code?  


Here is the original:
https://github.com/iamunick/growthcoin

Changing rewards requires a hard fork. Every node has to agree on the reward for a given block, so if someone starts putting out blocks with an unexpected reward, the 'old' clients will ban them.

Personally, it seems OK as it is right now.  I like to ride coin prices in 12 to 30 Sat cycles, seems like what this coin is doing.   If there were more of a team of experienced coders, I would also be behind you and the changes.  I have too many responsibilities right now and no experience in doing this kind of work, but interested in continuing to learn.

That's why I'm starting with the easier changes first getting pow rewards going again and pos reward reduction if I could find help I would take it in a heart beat but it is what it is the only thing I am not entirely sure of that I'm trying to figure out is whether these changes can be completed to the main chain or whether it will require a hard fork to the chain like what just happened with BCT and BCH

I don't want to sound like I'm trying to dampen the progress of your work.  I don't mind if you go through with making these radical changes,
the only thing is that are you sure you can bring this to completion?  We should try to get some others who may have launched POS coins successfully to help.

Yes Exactly and i mean these whales do that to all coins at some point however once they crash the price they usually dont jump back into it to run the prices back up or people get scared to invest because its happened repeatedly thats what a lower interest rate is aiming to fix by having people actually have to buy into the existing supply to raise price and spread the coins around rather than a whale owning 75 percent of the stake and dumping the stakes on the market think of it like this if a person owns 1m coins then in 365 days they will make another 1 million coins thats a huge amount that will get dumped onto the markets in a whale scenario while it doesn't seem like a lot when your talking someone who owns 50k and actually the price gains on the market with a lesser interest rate everyone should make more off their stakes than if 3 people dumped 20million coins on the market every 6 months its a nasty circle of the market struggle to recoup the drop to just plummet again

This is a general happening on smaller cryptocurrencys btc and eth have enough people to quickly jump back up and down and be fine

Ok, I can pretty much understand everything you've said. 

I mine too and so always try to communicate with people about good things.  I never tried to mine Growthcoin before.

About POS, the problem seems to be people coming in with a lot of money, buying a lot of coins, and then crashing the market.   The situation that I see is that cryptocurrency is still a small phenomena and within that small thing there is something called POS Wallets which only a small fraction of that small fraction know how to use.  If more people understood how easy it is to use them, back them up, restore them after they crash, etc. then more people will buy the coin.  That is the angle I am trying to work from.   

So, if suddenly POS Wallets are seen as a cheap way to mine BTC in a roundabout way, what will happen if Growthcoin isn't distinguishable anymore by a higher POS return?   100% a year shouldn't be too much.   That goes with the market trading, it's easy to make 100% a year trading crypto, and BTC has been much higher than that.

this great idea.. Goodluck

I sent it in about five blocks of about 300 or so, so combining many .2, .5 together. 

when you sent the staking funds to your wallet was it in one big transaction example 10000 grw or did you send it in small increments example 100,500,1000,100,50 ect.

I am not really sure exactly what you're saying.  I appreciate the work but I hope we can get more people to chime in about this who might understand more about staking and how these changes will reflect on the current GrowthCoin which I've come to really like.

I didn't get much feedback on the weird situation that I experienced.  The coins have matured again and it's the same kind of staking of many stake rewards coming in at .4, .2, etc.  I tried to combine many stakes in a few payments to myself, and then I didn't get a stake for a week, and now the same kind of small stakes.  It's actually very cool to have a staking wallet that seems to be constantly showing rewards coming in, even if they are pretty small.

We really need more people who can explain things at simpler levels because I have a C++ background and don't have a lot of time to study this stuff but a lot of it is still unclear.  

I also am gonna give you guys a little insight about the pow and pos and why I came up with these ideas

POW - To put it simply conformation times due to the nature of pos and people not needing to have their wallet online to stake conformation times suck like almost 2 hours to get 200 confs to be able to get grw to trade miners can help fix this the more transactions that can be processed the faster everyones conformation times will be

The growing reward capped at 30 yes it seems high but almost all other pow/pos coins have the reward half so far that people stop mining it because its not profitable which leads to decline in prices and usage example sprouts, vector, hyperstake ect. a growing halving should slowely gain traction with miners and make it worth while for them to put hashing power towards GRW


POS -  The current problem is that there are more coins generated than there are people to buy them also with such a high inflation the value of grw will continue to hang where it is or allow for massive selloffs and pump and dumps to happen as a community we should want adoption creating something that can be so easily manipulated by the large stake holders against the people trying to get into the coin will most definitely kill the adoption of GRW Crypto is built on trust and having a high stake rate is inherently untrustworthy



Please feel free to weigh in on the subjects or propose something that maybe i haven't thought of also I will maintain transparency with the community throughout the development if you would like to donate to the development you can send here appreciated not required

BTC - 16Dx8FaSLpowQReM9AygP3ufB4ZCBL91Rd

GRW - GYK7bLqZAAjtqcvmxf9stvDydQ8K4cwKTU

ETH - 0xb5b328384bedcbcf291d5b01213079545cf3a302

Your welcome thank you for participating gonna leave the survey up for another few day see if any other grw community members want to weigh in so far the low inflation has a majority yes the POW rewards is almost split between yes and undecided as a little update for you all