sirsmokesalot



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Hero MemberActivity: 767Merit: 500 Re: [ANN][CCN] - Cannacoin - PoW to Proof-of-Stake Velocity - 0% Premine November 25, 2014, 02:31:08 PM #382 "It must be emphasised that PoSV is designed specifically for the digital social currency Reddcoin and is never intended to serve as a drop-in replacement for other cryptocurrencies that don't share the same economic and social goals. PoSV should be evaluated as a piece in the Reddcoin ecosystem and not stand-alone"



" In particular, Reddcoin is well positioned to ll the niche of a digital social currency that's tightly in-tegrated with human social interactions and acts as the yardstick to concretise and quantify people's intangible asset of social influence."



It appears that Reddcoin seeks to function like some type of "karma" points system. Is society that bad off where we need the gold star sticker every time we do something good. Pavlov was a genius. So for it to gain value people have to see the coin as something positive and want to have more of the coin than others have so that others think they are "the shit" for having more of something they have less of?



I guess the function for figuring out coin age should be some where in the code if it is open for public viewing. Beyond me, but it would seem easy to "game" the system if you understand how coin age is figured out and such. That holds true to anything in life, if you understand how it works, you can make it function to your best interest. I bring this up because i noticed the open challenge to the public about trying to game the system in the faq lol



"In particular, the clone cannot adopt PoSV from inception because, as discussed in section 2, the mere knowledge of the eventual adoption of PoSV or PoS will lead to people hoarding from the very beginning. To achieve a fair and wide distribution, an element of surprise at protocol level plus dedicated eorts at community level are both indispensable."



+1 for that! Mission accomplished!



Can't wait for that windows wallet!

-->>>Unobtanium - The crypto you keep!<<<-- We can't grow when we won't criticize ourselves!

tokyopotato



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LegendaryActivity: 812Merit: 1000 Re: [ANN][CCN] - Cannacoin - PoW to Proof-of-Stake Velocity - 0% Premine November 25, 2014, 05:06:37 PM #383 Quote from: sirsmokesalot on November 25, 2014, 02:31:08 PM

I guess the function for figuring out coin age should be some where in the code if it is open for public viewing. Beyond me, but it would seem easy to "game" the system





The code is there to see... you can attempt to "game the system" but in order to game the system you have to make a compromise which is that you have to stop staking in order to try and stake more coins in the future.



I think the best way to "game" the system is to move the coins every 45 days. Just send all your coins from one wallet to another to reset the coin age.



The amount of time it would take to analyze the function and figure out a function to game the existing function would take so much time and energy it would hardly be economical.



Regardless, the protocol is still very young and it's entirely possible in 6 months we will update the protocol with more advanced features and refined parameters. The code is there to see... you can attempt to "game the system" but in order to game the system you have to make a compromise which is that you have to stop staking in order to try and stake more coins in the future.I think the best way to "game" the system is to move the coins every 45 days. Just send all your coins from one wallet to another to reset the coin age.The amount of time it would take to analyze the function and figure out a function to game the existing function would take so much time and energy it would hardly be economical.Regardless, the protocol is still very young and it's entirely possible in 6 months we will update the protocol with more advanced features and refined parameters.

vegasguy



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"Yobit pump alert software" Link in my signature!







LegendaryActivity: 1596Merit: 1003"Yobit pump alert software" Link in my signature! Re: [ANN][CCN] - Cannacoin - PoW to Proof-of-Stake Velocity - 0% Premine November 26, 2014, 03:02:21 PM #392 I just want to add my 2 cents. I held 500,000 reddcoin when it switched over to posv, and I want to say it was the WORST proof of stake system EVER. With over 500,000 reddcoin I was averaging 15 coins a month reward. Guys if this is ANYTHING like the Posv of Reddcoin , you will be HORRIBLY dissapointed. Trust me, Im not new to pos coins, and I hold large amounts of every pos coin you can imagine, and even have a website dedicated to it. http://bitcoinlasvegas.net/category/highest-percent-proof-of-stake-coins/ https://bitcointalk.org/index.php?topic=1945937.msg20241953#msg20241953 I want to make sure everyone knows that I just released my software called "Yobit pump alert". THis is custom software that uses an algo to detect the start of a pump here on yobit, the second it starts. YOu can even filter the coins you see by price. Most pumps start less than 100 sats , so you can easily filter the cheap coins, so they are the only ones displayed

LuckyKey



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Sr. MemberActivity: 343Merit: 250 Re: [ANN][CCN] - Cannacoin - PoW to Proof-of-Stake Velocity - 0% Premine November 26, 2014, 04:00:55 PM #393 Quote from: vegasguy on November 26, 2014, 03:02:21 PM

I just want to add my 2 cents. I held 500,000 reddcoin when it switched over to posv, and I want to say it was the WORST proof of stake system EVER. With over 500,000 reddcoin I was averaging 15 coins a month reward. Guys if this is ANYTHING like the Posv of Reddcoin , you will be HORRIBLY dissapointed. Trust me, Im not new to pos coins, and I hold large amounts of every pos coin you can imagine, and even have a website dedicated to it. http://bitcoinlasvegas.net/category/highest-percent-proof-of-stake-coins/



Thoughts;



At 2% I don't believe the goal was to reward holders as much as stabilize the influx of coins and the blockchain.



Did you leave your wallet online (staking) 24/7 ?



The following text is from github:



"It's easiest to think about this in terms of a lottery. Everyone with reddcoins has many "lottery tickets." Approximately every minute, one lottery ticket is chosen, and whoever wins gets awarded newly created coins. If you have reddcoins in your wallet, you have some lottery tickets. Whoever has the most lottery tickets has the best chance of winning. To enter the lottery just make sure your wallet is staking, and it will enter the drawing for you every minute."



I think the Reddcoin circulation is almost 30 billion? If so, 500k is not that large of a position meaning others will have a better chance in the lottery.



It may have balanced out more towards the 5% Reddcoin goal (I think) over the long haul?

Thoughts;At 2% I don't believe the goal was to reward holders as much as stabilize the influx of coins and the blockchain.Did you leave your wallet online (staking) 24/7 ?The following text is from github:"It's easiest to think about this in terms of a lottery. Everyone with reddcoins has many "lottery tickets." Approximately every minute, one lottery ticket is chosen, and whoever wins gets awarded newly created coins. If you have reddcoins in your wallet, you have some lottery tickets. Whoever has the most lottery tickets has the best chance of winning. To enter the lottery just make sure your wallet is staking, and it will enter the drawing for you every minute."I think the Reddcoin circulation is almost 30 billion? If so, 500k is not that large of a position meaning others will have a better chance in the lottery.It may have balanced out more towards the 5% Reddcoin goal (I think) over the long haul?

vegasguy



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"Yobit pump alert software" Link in my signature!







LegendaryActivity: 1596Merit: 1003"Yobit pump alert software" Link in my signature! Re: [ANN][CCN] - Cannacoin - PoW to Proof-of-Stake Velocity - 0% Premine November 26, 2014, 05:14:03 PM #394

If POS is not designed to reward stakeholders, then why did cann even include it, and why in gawds earth did they choose the worst POS ago (POSV) at the lowest percent!??! @Canndevs: dont even bother.



To answer your questions: My POS wallets are unlocked 24/7



Vegas https://bitcointalk.org/index.php?topic=1945937.msg20241953#msg20241953 I want to make sure everyone knows that I just released my software called "Yobit pump alert". THis is custom software that uses an algo to detect the start of a pump here on yobit, the second it starts. YOu can even filter the coins you see by price. Most pumps start less than 100 sats , so you can easily filter the cheap coins, so they are the only ones displayed

tokyopotato



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LegendaryActivity: 812Merit: 1000 Re: [ANN][CCN] - Cannacoin - PoW to Proof-of-Stake Velocity - 0% Premine November 26, 2014, 08:12:22 PM

Last edit: November 26, 2014, 08:38:15 PM by tokyopotato #398 Quote from: vegasguy on November 26, 2014, 03:02:21 PM

I just want to add my 2 cents. I held 500,000 reddcoin when it switched over to posv, and I want to say it was the WORST proof of stake system EVER. With over 500,000 reddcoin I was averaging 15 coins a month reward. Guys if this is ANYTHING like the Posv of Reddcoin , you will be HORRIBLY dissapointed. Trust me, Im not new to pos coins, and I hold large amounts of every pos coin you can imagine, and even have a website dedicated to it. http://bitcoinlasvegas.net/category/highest-percent-proof-of-stake-coins/



500,000k reddcoin is only 0.002% of the Reddcoin network. That's why you got such low rewards.



#1: The point of POSV is for securing the network for the future and not for rewarding people with thousands of new coins everyday for doing no work. That will compound the centralization of coins and network distribution very quickly.



#2: Proof-of-stake Velocity is hardly different in real terms from proof-of-stake 2.0 under Blackcoin. Blackcoin has a 1% interest rate and yet the coin has maintained value and network security, along with a strong community.



#3: If you want to acquire more Cannacoins, then you mine other coins and purchase CCN... such as a multipool like Blackcoin and Reddcoin both have. We plan to setup a multipool down the road specifically for Cannacoin, but in the mean-time you can simply purchase CCN.



#4 Thanks for your input













500,000k reddcoin is onlyof the Reddcoin network. That's why you got such low rewards.#1: The point of POSV is for securing the network for the future and not for rewarding people with thousands of new coins everyday for doing no work. That will compound the centralization of coins and network distribution very quickly.#2: Proof-of-stake Velocity is hardly different in real terms from proof-of-stake 2.0 under Blackcoin. Blackcoin has a 1% interest rate and yet the coin has maintained value and network security, along with a strong community.#3: If you want to acquire more Cannacoins, then you mine other coins and purchase CCN... such as a multipool like Blackcoin and Reddcoin both have. We plan to setup a multipool down the road specifically for Cannacoin, but in the mean-time you can simply purchase CCN.#4 Thanks for your input