Quote from: olkustino on July 09, 2017, 09:21:34 AM

Quote from: Evangelo on July 04, 2017, 08:26:45 AM

Hello everyone,

Just want to provide more news on the wallet upgrade that we are working to complete. In addition to the litecoin upgrade for faster syncing, we will reverse the staking so that coin supporters will earn a "fair" stake. Coin supporters with huge wallet amounts will stake the least as coin supporters will low wallet amounts will stake more, we choose to do so because of the many complaints that we received over the last few weeks. As far as a maximum coin supply we are going to try something new and bold by not having a maximum coin supply to achieve the goal of XP becoming a utility coin. By making this a reality we seek to gain an edge over competition while maintaining micropayment transactions. We understand the philosophy of rarity, however, if that were truly the case then all coins with a low supply should be high in price and more valuable, however, that isn't the case for every coin. If we every feel that we need to burn coin supply and cap it, then we will do so, until then, it's important that we spread XP all around world and as much as possible. New wallet upgrades should be complete in about a month as this is a huge job which will take some time. We will provide more updates as news becomes available.

Thanks for doing all the work on this project Evangelo! I've been following it for a while now and think it got a lot of potential. Especially with a possible coin burn/swap. Now you are talking about XP not having a maximum supply. I don't really get this approach. The cryptoworld indeed loves rare coins and tends to stay away from coins with huge supply. I think not having a maximum supply makes it even less attractive. Could be I'm missing something. Maybe you can elaborate a litte bit for me to understand? I'm still supporting XP but hesitant to buy more at the moment.

Keep up the good work!

Yes, the original dev had plans of making XP a "utility" coin. We all understand that just because a coin has a low supply, doesn't mean it will be more rare. Increased value isn't based on a low supply, value is defined by a multitude of things. One thing that is more complex to achieve with a low supply, are in-game tokens. We are inspired to integrate XP into a multitude of video game platforms, if that is indeed the case, the more limited the supply is, then the more limited users are. Even if the price is really high per unit, then that will still potentially limit the number of users, rewards, etc. However, with an unlimited supply we are able to do more with XP as supply is no longer an issue. Because we are reversing the algorithm, we are able to supply more XP to a lot more people, in fact, because we are re-scaling the staking rewards, more people will be able to stake indefinitely and have a stable income. In regards to this, the interest will never die once wallets are updated because everyone will be able to earn a good stake no matter how many coins one's wallet has. The value of coin is based on the coins specifications and most importantly those who help with development. If we cut the total supply today and create a maximum supply, I can guarantee that value will not go any higher just because the supply is shorter. Even though we understand that much of us are used to the traditional PoS standard, "the more you have the more you stake". Our approach is sure to rise the price in value because those who have less will earn more than what they would of with the old algo. Allow me to emphasize "The algorithm will have a REASONABLE SCALE". The goal is to have smaller wallets stake much more so that the stake is "REASONABLE" and Wallets that would typically dominate the POS, will not be so dominant. This is all according to "Percentages" of course.