Re: NobleCoin[NOBL] - Redefining 2015 - Colored Coin 'Fuel' [NOXT/NOCC]
Hey guys, I have to mention that there is no penalty in Magi's PoS-II for one staking with a big amount of coins. If you didn't get it, please read some docs or PM me (I don't want post many Magi's links here); you're misunderstanding this point. You're gonna stake as like the general PoS coin, but you have to be careful (not like in a general PoS coin, stock & stake).
Rules (PoS-II): Don't send significant amount coins at once in one transition in order to get interest easily (some people understand how PoS works, and they know how to get PoS blocks easily; but that more or less has security concern). Don't keep the wallet offline for more than 5 days in any circumstance, or you need to reset the stake time. That's the rule if one want to stake many coins.
I agree with HP's post (quoted below), and would like here to assist. As discussed, we will go with general PoS and then possibly migrate to PoS-II in the future regarding some stability concerns, to be clear. I welcome anyone points out the deficiency of PoS-II, but please firstly understand how PoS-II works. Addressing any possible issues in PoS-II will consolidate any measure we would take later on for NOBL to go with, if that's the way we're heading. Also, I believe we're trying to solve the issues rather than debating. If you think people talked too much Magi, let it go and let's get general PoS working ASAP.
Rules (PoS-II): Don't send significant amount coins at once in one transition in order to get interest easily (some people understand how PoS works, and they know how to get PoS blocks easily; but that more or less has security concern). Don't keep the wallet offline for more than 5 days in any circumstance, or you need to reset the stake time. That's the rule if one want to stake many coins.
I agree with HP's post (quoted below), and would like here to assist. As discussed, we will go with general PoS and then possibly migrate to PoS-II in the future regarding some stability concerns, to be clear. I welcome anyone points out the deficiency of PoS-II, but please firstly understand how PoS-II works. Addressing any possible issues in PoS-II will consolidate any measure we would take later on for NOBL to go with, if that's the way we're heading. Also, I believe we're trying to solve the issues rather than debating. If you think people talked too much Magi, let it go and let's get general PoS working ASAP.
I see the merits of pos-ii, and at the same time I wish it was an option with longer proven feedbacks. It does sound very promising, but as we should all know, every new tech and innovation can use additional time to stand the test of scrutiny and time. I wish to err on the side of caution and keep a good eye on this, while initially stabilizing our transition by using a proven general POS option.
Long ago we had many discussions about merits of Merged Mining and I had hoped such a path would be open and possible. As far as I know, DMD offer was the closest we had to achieving that goal, but at the moment it seems it did not materialize as the torch was passed on to palmdetroit for a general pos wallet (and he has not responded afte a month and a half now).
We have dedicated community members working on both of general pos and pos-ii options, so once it is ready the community should review both options and agree on the best course to take for the foreseeable future. Once again, I advocate for the general pos swap as the immediate course of action, and perhaps pos-ii at a later date should it stand the test of scrutiny and proven its stability with test of time. It would be highly risky to risk the future of Noblecoin on something so new so quickly, and basic improved security of the blockchain (removing multipools and large hashrates from conducting further 51% attacks) is paramount and immediate concern.
One step at a time, so we can get this done right for the good of all and Noblecoin itself
Long ago we had many discussions about merits of Merged Mining and I had hoped such a path would be open and possible. As far as I know, DMD offer was the closest we had to achieving that goal, but at the moment it seems it did not materialize as the torch was passed on to palmdetroit for a general pos wallet (and he has not responded afte a month and a half now).
We have dedicated community members working on both of general pos and pos-ii options, so once it is ready the community should review both options and agree on the best course to take for the foreseeable future. Once again, I advocate for the general pos swap as the immediate course of action, and perhaps pos-ii at a later date should it stand the test of scrutiny and proven its stability with test of time. It would be highly risky to risk the future of Noblecoin on something so new so quickly, and basic improved security of the blockchain (removing multipools and large hashrates from conducting further 51% attacks) is paramount and immediate concern.
One step at a time, so we can get this done right for the good of all and Noblecoin itself