DOES ANYBODY REALLY UNDERSTAND MY POINT?
- Add 6bn more bees. The extra bees would be used for BLOCK REWARD SCALING, POS, BLOCK TAX, GAMES AND GAMBLING.
- An initial high POS will make BEECOIN AS ATTRACTIVE AS MINTCOIN. The POS will create a scramble for beecoin, AND THIS IS THE TIME THAT WE TAKE ADVANTAGE OF PRICE HIKES.
- HIGH POS does not really increase bees on the market, BUT IT SURELY INCREASES BEES IN MY WALLET. THIS IS VERY GOOD, AT CURRENT TIMES, WHEN IT IS NOT EVEN PROFITABLE TO MINE ANY COIN.
- EVEN IF WE ADD 6bn, 6bn is really nothing, this amount will be greatly consumed by GAMBLERS, POS IN MY WALLET, BLOCK TAX and MARKETING.
I understand what you think will happen, but it probably will not happen. Sadly nobody will rush to beecoin for 20% the coins go up and down 50% per day, nobody will care about 20% in a year. It will just create BILLIONS more coins for nothing.
You may get more coins in your wallet but they will be worth less so it is pointless. NO coin increases minting, most try to get away with cutting minting down to increase value of the coins. Beecoin right now has very low demand ie nobody is buying because it has no services or marketing. You can't increase 25% more coins it just makes the coins you have worth 25% less.
Even if you did add 6BN more to minting... you could only have a VERY small POS each year because even 6BN will not last many years.
Even with the 2% development block tax if we make more coins but they become less it is pointless.
If you visit every other coin community that had too much supply and not enough demand..... they cut supply they would never increase supply. That is suicide of the coin. I agree we need POS but a tiny %
Really for beecoin to start rising in value you need to cut the block rewards down a bit or scale them longer and slimmer and add a small POS for security. POS on a coin like this is not to get free coins, it is to give security to the chain. However cutting POW rewards is not good for the image of the coin, so have to leave it as it is.
POS is only for free coins and security if you do a mining period of a few days like black coin and mintcoin.... beecoins minting is already HUGE.
20% pos will not create any rush to beecoin at all it will only devalue the coins you have. Crypto is not like a bank with fiat in.....the value of your crypto coins goes up and down by 50% or more sometimes in a day , investors realise 20% per year means nothing, even 100% in a year means nothing. Crypto is very unstable.
If we could cut of all mining from here and just go full POS with tiny POW that would make you coins a LOT more valuable.... but other communities and new miners would say that was unfair.
The more coins you produce the less everyones current coins are worth. The block tax is not even worth too much right now since there is no real buying demand.
Even to increase the minting by 1B is devaluing the coins .
Mintcoin is nothing like beecoin, mint is more like black coin... Beecoin is more like doge they were forced to either allow 1% inflation per year or they could have added POS. They decided to inflate 1% per year after all blocks were mined. A lot of doge hated that idea because they saw it diluted their share.
Just keep in mind that getting free POS coins means nothing to getting more BTC value, it just creates more coins supply. We need to increase demand not supply. If you want POS that high all POW coins need to be stopped. BUt then other communities will call beecoin a scam because we have mined the coins ourselves then stopped others mining and rewarded ourselves with more POS coins. So beecoin will be called a scam.
This is the main issue with all crypto except bitcoin..... there is no use for it. We need to market and come up with services for it. Block tax can be larger because the comes out of the current minting and does not increase supply. I a in agreement with bigger development pot for projects and games...even 5% just for that. Let's get some decent games and incentives for people to buy beecoins.
Another point is this.... we need mining as profitable as possible to get some miners... we need to choose the best algo for profit. The one that uses the least electricity of all. Profits for miners are very important. I hear a lot of miners are quitting due to low profits. So we need increase value of beecoin, decrease cost to mine beecoin. This will keep beecoin popular and more secured.
If we do add 6BN to the minting it must be all through POS... and not just in one year.... we need years and years of POS to keep the coin alive. 2% max pos would be best maybe intitial 5% first year but it makes no difference in a market which can go up and down 50% per day... so i say as least as possible POS but regular staking to keep blocks moving. Also cut POW rewards in half but make them go longer. If we use and algo that uses 50% electricity that is actually more than fair because we are not cutting minting we are extending the minting.
