Re: [ANN][PHS][50% PoS ONLY] PhilosopherStone | NoPremine | ~64% compound | 1.6.6.4
Low prices are great opportunity to get in, as well to start discution about Philisipher's Stones future.
Because staking is the only way to get new coins it's obvious that 50% staking rate is great for now and will be sustainable for few years to come. We can easily grow 50% every year from users base we have now.
But at some point in the future it will eventually become unsustainable.
And my argument is that we should have sane plan for the future, implemented in the code. Because it's very hard to market Philosopher Stone now when its future is not clear.
Whether we would half rewards every 4 years till they become 4 or 2% with compounding and can be easily offset with transaction fees. But in this case the whole amount of money supply would be unpredictable. Or we would half reward when we get 10m, 15m, 17,5m coins etc, to have about 20m coins in the end for easy value comparison with BTC. Or something completely different. But it should be coded into the client, so we could put all these sexy charts of money supply to marketing sites and pdfs.
Another question about every POS only coins is "nothing at stake" problem. I have not enough technical knowledge to give well informed opinion about this, and I personally think this problem is exaggerated but for marketing reasons we should give some reassuring solution to this, so this is question to Palmdetroit, what he thinks about, what is the best way to reassure potential PHS byers.
And the last question. PHS can store any information as transaction message but only 140 bytes. FlorinCoin was forked later to have more than 500 bytes messages, is it hard to do the same with PHS? I'm PHS fan and web developer who interested in building services that use PHS and not only web wallets but something more interested like twitter like service that use PHS blockchain as a storage, or something like this, but I'm not experience enough to really dig into C code and understand how the client works on the low level, I would prefer to work with phs daemon via rpc.
Because staking is the only way to get new coins it's obvious that 50% staking rate is great for now and will be sustainable for few years to come. We can easily grow 50% every year from users base we have now.
But at some point in the future it will eventually become unsustainable.
And my argument is that we should have sane plan for the future, implemented in the code. Because it's very hard to market Philosopher Stone now when its future is not clear.
Whether we would half rewards every 4 years till they become 4 or 2% with compounding and can be easily offset with transaction fees. But in this case the whole amount of money supply would be unpredictable. Or we would half reward when we get 10m, 15m, 17,5m coins etc, to have about 20m coins in the end for easy value comparison with BTC. Or something completely different. But it should be coded into the client, so we could put all these sexy charts of money supply to marketing sites and pdfs.
Another question about every POS only coins is "nothing at stake" problem. I have not enough technical knowledge to give well informed opinion about this, and I personally think this problem is exaggerated but for marketing reasons we should give some reassuring solution to this, so this is question to Palmdetroit, what he thinks about, what is the best way to reassure potential PHS byers.
And the last question. PHS can store any information as transaction message but only 140 bytes. FlorinCoin was forked later to have more than 500 bytes messages, is it hard to do the same with PHS? I'm PHS fan and web developer who interested in building services that use PHS and not only web wallets but something more interested like twitter like service that use PHS blockchain as a storage, or something like this, but I'm not experience enough to really dig into C code and understand how the client works on the low level, I would prefer to work with phs daemon via rpc.
Hi, Just doing a quick analysis of the chain and currently PHS is growing at a rate of 2,500 PHS per day this current year. One thing that gets overlooked quite often is coin destruction due to lost PHS or destruction due to fees, which works an as offset to runaway inflation. I'ts why we are coming on 3 years and still have such a low total coins than most predicted.
As Far as a fork to lessen inflation at certain dates/times, yes this is relatively easy, as well as increasing message size.
Hope everyone is enjoying this new found interest in Cryptos, and the prices
