Quote from: Revelation on January 03, 2015, 11:39:42 AM

Quote from: bumbacoin on January 03, 2015, 10:55:29 AM

Quote from: Revelation on January 03, 2015, 08:45:55 AM

Hey guys, I just want to add my 2 cents to this scam thing.
The following formulas:

https://github.com/GAWMiners/paycoin/blob/master/src/main.cpp#L974

Code:

nSubsidy = nCoinAge * nRewardCoinYear * 33 / (365 * 33 + 8);

and
https://github.com/GAWMiners/paycoin/blob/master/src/main.cpp#L1962 ending with line 1999
show how the nCoinAge is computed. Which means the following, 350*CENT parameter is converted to 350/365 = 0.96% daily compounded rate, or yearly this means around 3250%. Whoever coded (copied) this coin has problems with math and 350% annual rate (if this was desired) was converted to 3250% rate

hmm didnt think of coinage before

however i'm not entirely agreeing with your 3250%
using coinage seems to only guarantee a 350% annual interest (if it were to only stake once per year)

although obviously staking more often would result in a higher effective compounded return. whether or not this resulted in 3250% would rely on whether the nodes would mint daily (or more). -- which is entirely possible

Any node is staking several times per day (you can check this by staking on your own), so even my daily staking assumption is conservative.

haha i'll agree with you

just thinking about the amount those nodes will be earning. lollllll

from 125k to 4mill in a yr. woot

this needs a fork if they want to survive as a coin.