Topic: The Bottlecaps Foundation 30 Day User Briefing and Development Path (Read 2321 times)

Really liking how smoothly the POS transition has gone. Thanks for the great work on this coin. I think as people come to understand that this is one of the few fair release coins around with the added bonus of being POS that interest will grow.

Thank you

We will be editing to post soon to reflect the recent unfortunate events and how they will effect the development path. No worries just a few additions to 1.4.1 and some date changes

Looking forward to the new POS changes......good to see an honest coin without premine.

Ours apologies. All info was sourced from our official blog. A few formatting issues popped up.



https://cryptocointalk.com/blog/7/entry-22-the-bottlecaps-foundation-30-day-user-update/

I've noticed some mistypes/errors in the links at 1st post, please fix them.

Might start trying to get some services for CAP next while mullick is doing the dev.

Great charts validates ours as well. Love the site.

Bottlecaps charts are now up on cryptometer.org:
http://cryptometer.org/bottlecaps_96_hour_charts.html
http://cryptometer.org/bottlecaps_90_day_charts.html

Looking good CAP crew! Very nice write up! Can't wait to see the changes implemented!

Typo in OP: .015% should be instead 1.5%

Update: Now fixed

5% is just the reward for the coins that end up being staked.

The confusion seems to be coming from the term "interest"

People seem to think for every month you hold 100 coins you will gain 5. This is simply not how it works. Out of the 100 coins you have eligble you are likely to only have a smal portion end up being staked.

Lets say your on the lucky side. And 20 coins get staked. The 20 coins will move to the staked collumn and you will recieve a PoS block equal to 1 coin. Those 20 are then not eligible for PoS rewards for another 30 days. The next month maybe another 15 are staked. You would then recieve .75 coins as a Pos reward. then again those would be unavailable for rewards for 30 days.

I understand the confusion as Proof of Stake has never been explained in complete detail. I will begin working on a write up to give people a better understanding of how Proof Of Stake rewards work.

Proof of stake is not designed as a profit scenario. It is simply designed to give miners incentive to "offer" their coins to the network to be used as stake to secure it.

To prove this will not cause rapid inflation, Let's take a look at the NVC all time graph. Until recently NVC used a 5% miners reward for PoS blocks. Until they moved to a more complex system. If inflation were an issue we would see a large increase in coin production between days 30 to 90. Let's see what the graph tells us


Source: Cryptometer.org

Now you can barely see it. But if you look at the blue arrow. That is the total # of coins minted through the proof of stake method. It currently totals 7,826 coins. Compared to the total supply of 409,000 Pos minting equates to less than 2% total supply after Pos has been active for 16 weeks

It may look like PoS has just started to dramatically rise. But that is not true. It has taken since day 30 until week 16 for the supply to even show on the graph.
Lets take a look at the longer chart of PPC.

Now ppc uses a dynamic ROI based on coin days destroyed. The less currency available for stake the higher the ROI typically between 1-3% if I am correct. ( Please correct me if I am wrong)


Source: Cryptometer.org

Once again the POS minted currency is barley noticable. It just became large enough to show on the graph at week 44



Total currency = 19,000,000 roughly          PoS minted currency = 58,000           % of currency minted By Proof of stake = .33 roughly after nearl;y 1 year

Obviously I support Caps as I conceived the idea generally ,

And the structure has been done correctly , but I will target an amount and no more as I can't own more of something called

"Bottlecaps"

It's in my opinion worse than "coin" , also it shows a little bit of mismanagement , because the change in the client would have been very easy to achieve .

So this to me shows a certain amount of ignorance to the wider market psychology, and sociological aspect of what is and how currency works.

So you have got the structure right , but to move from a forum with casinos , there needs to be an extra step.

A vote on a forum is useless , it's the same as Novacoin voting to add a logo or not , or someone putting a vote up as to weather Worldcoin is better than Caps .

If you can't see these things then that is a worry also , leadership and management is about doing what benefits the entity , not democracy .  The entity then benefits the " democracy" .

As Sunny himself wrote on PPcoin paper, PoS is the future. As PoW pays transaction fees to the miners, PoS pays interest to the holders for keeping network online and secure. On top its energy efficient way to keep the network alive.

Its only 5% once the whole chain is mined has anyone really considered what happens to proof of work coins when the miners stop mining? Check out Chinacoin for a great example. There has to be an incentive to keep the blocks moving. I think some of the PoW coins will eventually have to pay folks to mine them just to keep the engine moving making them more centralized. Anyone else have an opinion on this?

Very nice guys, keep it up



the 5% will work more like a motivation to hold some coins for securing the network and not for the actual profit, i think of it more like a personal bank, where the interest isnt much but it keeps your money secure.

5%, thats kind of high, isn't it? POS is more so to increase security of the chain, than it is to produce profit....And, how much could someone make, trading Bottlecaps in those 30 days, rather than holding them, for 5%. 30 days, a smart trader could make a minimum of 400%+....And, lets say there's 10 million coins in existence, and everyone holds them for 30 days, that's a whole lotta coins, being added, at once...
Don't get me wrong, I love CAPS, and I love fallout, I'm just not sure this is good for it in the long run

Execellent post, good work keep it up 

I love this, it's something different.  A lot of the other alt coins are just boring!  Some of us are here to learn and have fun, right?

Thank you We appreciate that very much

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