FTC's future
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Its been a legitimate debate. At least everyone can see where we stand.
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To add something, I remember Piggy coin rised in value nicely after changing emmision model.
Not sure in what state are they now.
And the other is Gridcoin, changed total number of coins 10x up, but old coins had to be burned (exchanged for new).
Gridcoin seems ok.
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And the other is Gridcoin, changed total number of coins 10x up, but old coins had to be burned (exchanged for new).
Gridcoin seems ok.
They’re still in the process of that conversion, final deadline is April 20th.
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So you called me a liar for stating that coins are locked out during the stake generation process. Let me reiterate that again below.
In Peercoin for example when PoS block is generated the coins used to generate that block cannot be spent until 520 confirmations.
Kevlar, it occurs to me that you have the wrong view of me and Feathercoin. You put me on a pedestal so you can knock me off it. The thing is, I am not the God of Feathercoin. I launched it and was pretty much the only person contributing to development for a long time, this is not the position I wanted to be in but people generally left it up to me. I was disappointed but I got on with it and made tough decisions when I had to. I did ask others to help including yourself but when I asked you to do some work but you took personal offence by that and went on a long rant.
It is easy to criticise is it not?
Feathercoin now has an excellent team of enthusiasts like myself who enjoy spending time on this project.
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@Kevlar: just for your Info: It was Bushstar who unlocked the thread…
You mentioned your researches several times. Do you have some facts and resulty you are willing to share with us?
It would help to make the right decision where to go.
All and I mean ALL people here are willing to make feathercoin the best existing crypto, and the more proven facts we have, the better the outcome will be.
Speculations and personal opionions are of minor help to make decisions.
Also when discussing past decisions we should try to discuss also when and why a decision was made in which situation.
This could take a lot of heat out of this discussion, leading to faster results
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Looking at a peercoin guide, you can create a .conf file and set a reserve value.
#The reserve balance field is the minimum amount of coins you want to have available and NOT put up as stake. #The reason for this is that if you are generating proof of stake you cannot spend those coins for 520 blocks. #reservebalance=10000 -
Many thumbs up for @Bushstar! :)I will dump ftc if Bushstar leave.
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Guys drop this nonsense. Please.
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I don’t agree that Ghostlander did a fantastic job with Orb, and the market has an entirely different opinion from you. Just because it didn’t work for him doesn’t make it NOT a practical solution. That’s easily demonstrably false, which makes you a liar And just because you misrepresented the idea to Sunny King doesn’t mean that it’s an unworkable idea. Nothing about what you just said offers any new insight into the topic.
ORB was 0% PoS with fees destroyed and failed. There is nothing to debate because it did fail. When I took over, I implemented fixed block rewards and gave all fees to the miners. Finite coin supply, very predictable inflation. It works well so far.
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tx fees should never be destroyed in my opinion.
We are keeping the current inflation rate.
How can we set up PoS with current inflation rate and prevent the chances of an any percent attack. Or preferably as secure as possible?
Is it possible to even prevent 100% attack? or How close can we get?
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I’m not sure why Sunny destroys the fees in PPC, would be interesting to hear the reason behind such a design decision. Perhaps to compensate somewhat for its inflationary effect. There are times in PPC PoS blocks when more coins are destroyed than created.
0% PoS with miner fees is as big an incentive as we can make without touching the inflation model. Not sure that it is incentive enough.
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At least we could run some community mint nodes and support FTC’s hashrate without risking my home in energy bills :)
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So you called me a liar for stating that coins are locked out during the stake generation process. Let me reiterate that again below.
In Peercoin for example when PoS block is generated the coins used to generate that block cannot be spent until 520 confirmations.
Kevlar, it occurs to me that you have the wrong view of me and Feathercoin. You put me on a pedestal so you can knock me off it. The thing is, I am not the God of Feathercoin. I launched it and was pretty much the only person contributing to development for a long time, this is not the position I wanted to be in but people generally left it up to me. I was disappointed but I got on with it and made tough decisions when I had to. I did ask others to help including yourself but when I asked you to do some work but you took personal offence by that and went on a long rant.
It is easy to criticise is it not?
Feathercoin now has an excellent team of enthusiasts like myself who enjoy spending time on this project.
I would never ever suggest using Peerconis PoS Model. There’s MUCH better models for doing PoS.
And that’s the problem: You continue to be wrong, yet you continue to defend your position.
Yes, it’s very easy to criticize decisions that were wrong to begin with, were pointed out to be wrong at the time, alternatives were offered and ignored, and the market continues to move against those decisions. They were the wrong decisions then, it was misinformation then, and it becomes lies when you continue to spread them when you’ve been repeatedly corrected.
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Many thumbs up for @Bushstar! :)I will dump ftc if Bushstar leave.
Do you really think this helps the discussion any?
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ORB was 0% PoS with fees destroyed and failed. There is nothing to debate because it did fail. When I took over, I implemented fixed block rewards and gave all fees to the miners. Finite coin supply, very predictable inflation. It works well so far.
It’s failure would be relevant if I was suggesting a similar model.
I’m not. Why don’t people get that?
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We need to move to PoS still but 0% wont help anything anymore it seems.
I’m launching my own coin soon that will test a number of theories and I hope to set up the right conditions in which 0%PoS w/ TX fees could be viable. But until then, no one will ever know.
Feathercoin on the other hand. With all things considered. We need to go down a different road.
If we are to remain an “original coin” survivor in the next decade, we need to stay true to at least one aspect.
I’d hate to say it, but it’s the inflation model. PoS can keep that but avoid the shortcomings of PoW
As mentioned though. There is always that idea Etherum talked about.
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I would never ever suggest using Peerconis PoS Model. There’s MUCH better models for doing PoS.
And that’s the problem: You continue to be wrong, yet you continue to defend your position.
Yes, it’s very easy to criticize decisions that were wrong to begin with, were pointed out to be wrong at the time, alternatives were offered and ignored, and the market continues to move against those decisions. They were the wrong decisions then, it was misinformation then, and it becomes lies when you continue to spread them when you’ve been repeatedly corrected.
When you make assertions can you please back them up with something like I am trying to on your request. It is not good enough for you to simply call me a “liar” on PoS without explaining how I am incorrect. I am happy to be corrected if you are able to. Please link us to a much better model of PoS than Peercoin’s so we can properly access it.
Was this other model of PoS available when ACP was on the table?
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When you make assertions can you please back them up with something like I am trying to on your request. It is not good enough for you to simply call me a “liar” on PoS without explaining how I am incorrect. I am happy to be corrected if you are able to. Please link us to a much better model of PoS than Peercoin’s so we can properly access it.
Was this other model of PoS available when ACP was on the table?
It’s very simple: There’s no reason it has to work the way you described. You are just creating obstacles where there are none.
Yes, it was available when I was suggesting it, and you kept repeating the same untrue things then rather than listening. You wanted centralization, and you refused to even consider any other suggestions, learn about their merits, or discuss their implementations. At any time I’ve been available for you to come and ask me, “Hey, how would you implement this?” but you never do. You never reply to my suggestions on the forum, you never listen to my advice and you never learn why I’m pissed off about it all. You just do what you think is best and repeat the same untrue things that I’ve told you over and over are untrue.
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OK this isn’t really helping!
How would you implement 0% PoS?
Would be great to know details like how long coins would be locked after staking (peercoin has 250blocks) how often the pos blocks would be minted and anything else that’s relevant as I don’t know too much about PoS. I’ve read a few articles since we last chatted but I’m new to the concept.
