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Board Announcements (Altcoins)
Re: [ANN] [GDC] GadgetCoin | Smart Contracts on Hardware | IoT | M2M
by
meandme
on 13/07/2015, 09:20:32 UTC
Can we have staking on the account balance if the VICR contract is paused in case when the contract owner expects a higher price and doesn't want to sell the coins for USD 1? It would be cool to stake at 5-10% interest rate.


The development team has been discussing the staking, but in the context of GadgetNet the staking (POS) is more complicated than for other currencies. Personally, I believe the staking will cause a severe volatility to the price of GadgetCoin.
The broadcasters must buy GDC in order to cash out and if there is limited supply then the price of GDC could jump very high. Let say there is 1,000 GDC demand from broadcasters to pay the network fee but only 100 GDC is available because the rest of coins are staking and paused in the contracts. The limited supply means the price will jump to US$ 10 immediately. Since the price is irrelevant for the broadcasters - as they will pay the 5% of a FIAT amount to cover the network fee and it is indifferent to them on what price they can buy the coin -, the coin owners will be probably very happy with a high price and when the price jump to US$ 10.00 I assume the coin owners would like to sell the coins for that high price to realize a 3,000% ROI on the VICR price. However, once the staked coins entered to this internal market the price will crash to US$ 1.00 again. I am not sure if the coin owners would be happy with such volatility.


limited supply is ok

That's the plan, keep the supply low by forging very limited number of coins as well as burning the them once the network fee paid using the coins.
 

how to run a p2p node to get ores? not a stream server node