Post
Topic
Board Announcements (Altcoins)
Re: [ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official
by
scam confirmed
on 05/07/2015, 16:02:40 UTC
First, lets be clear. Only the first year will users be making 100% interest. After that, it linearly reduces down to 6% after 10 years.

And I can tell you why: Because of the rich founders, the rich angel investors and the rich foundations.


Second, simple algebra shows that regardless of the reward percentage, as long as users are mining, the Rich maintain the same, "purchasing power" as you called it, vs the poor. Let A be user A, B be user B, and p equal to the percentage earned. Then  A*(1+p)/ (B*(1+p)) = A/B.

Wrong! This formula ignores compounded interest! As shown in https://bitcointalk.org/index.php?topic=944933.msg11775144#msg11775144 and as described in the whitepaper: Larger shareholders ""receive payments more frequently".

Let m be the number of Blocks solved by rich user A within a certain time frame and n the number of blocks solved by poor user B within the same timeftame. Then

A*(1+((p/m)/100%)^m)            the rich user’s share increases
while                                                                                                                       The rich get richer while the poor get poorer.
B*(1+((p/n)/100%)^n)             the poor user’s share decreases

The only way a poor user (or even a rich user who doesn't mint 24/7) can counteract this inequality is to send his coins to a pool. This will make him dependent on a third party which is the direct opposite of „decentralized“.


It looks like this is the case (you need to DEPOSIT nokoins to use the pool),
but isn't that dumb?  What other coin requires you to
put your funds into a pool to use that pool?

Yes that's dumb.