Quote from: egghead123 on November 13, 2017, 04:34:56 PM

Quote from: ymalikov on November 13, 2017, 02:53:55 PM

Quote from: BitcoinPlusBus on November 13, 2017, 01:26:28 PM

Quote from: escapecoin on November 13, 2017, 12:52:31 PM

Hi

Can I make a few suggestions concerning the website?

People that come from outside of crypto don't many times know what is Proof of Stake. We could mention what it means. Say for example... Bitcoinplus doesn't need energy intensive mining, unlike BTC & BCH. Which translates into many positive things: cost effectiveness, eco-friendly, no miner hassle etc...

Then go down a little bit. It mentions 20% inflation. That's a big problem for newcomers. People don't understand what it means in crypto, so it's seen just as a threat. We'd need to open it up... that it's a possibility to earn. With so little coins it's hardly a threat, if the project just goes on. So encourage staking. Even Polo folks aren't interested in staking. They just want to make the quick buck.

What do you think?

escapecoin there already is a section on the website explaining PoS in some detail but if there is anything you would like to suggest something specific to be added to it let us know.

https://www.bitcoinplus.org/blog/proof-stake-explained

Quote

Then go down a little bit. It mentions 20% inflation. That's a big problem for newcomers. People don't understand what it means in crypto, so it's seen just as a threat. We'd need to open it up... that it's a possibility to earn. With so little coins it's hardly a threat, if the project just goes on. So encourage staking. Even Polo folks aren't interested in staking. They just want to make the quick buck.

20% is what was agreed by the community as a staking reward for people who provide security for the network and confirm transactions.It is not an investment or security or any other form of money making scheme just similiar to the block reward for PoW etc.

I think OP means if we call it inflation it doesn't sound good. we can say "expansion of coin supply" or "annual reward until coin supply reaches 1,000,000.

It probably would be better worded to something like mining the supply into existence.It's no different from PoW mining of any coin out there except with PoS the bigger the stake you have the more you mine/mint.If you look at PoW and different mining difficulties its really all about the more you put in the more you get out.With PoW its investment in more hash power and with staking its the more coins you have staking in your wallet so its equally viable regards fairness.We did have a vote on it to try to split it up 50:50 PoW:PoS but we didn't get consensus.

Actually this is way more fair that PoW mining.
There are 3. reasons that immediately jump to mind: (please comment if you see any other differences)
1. For PoW mining to be profitable you need scale in order to be competitive. There is also variance on electricity price around the world. Some places you have free electricity if you know the right corrupt people.
2. When you buy a rig, you trust the manufacturer to provide it to you right away without using it themselves first. We would be fools to believe that they don't use the rigs for a little while before sending them off to their customers. This gives an automatic unfair advantage to rig manufacturers.
3. You cannot become a miner if you have say $100 or $1000. You really need a few thousand or 10s of thousands. This goes back to point 1 and 2.

With PoS mining, everyone is on level playing field IF the reward is the same.
We know DASH for example, is not equal reward due to master nodes and they claim to achieve faster tx times due to master nodes.
Anyhow, Bitcoin Plus is actually level and fair across the playing field. Everyone gets 20% mining stake reward per year. You can by 1 coin and get your 20% after some time. Granted it will take you longer to see that reward come in but it will equal out to 20% per year - just like people who hold 100 coins or 10,000 coins will get. The only difference for those who hold more XBC is that they see the reward more frequently, however it equals out to the same 20% per year.

You can invest with 1$ or 1000$ with XBC, you get the same reward until 1,000,000 coins are minted - approx 12 years from now.
After 12 years you will get a proportional % of the fees as "minting" reward. Its not really minting at this point.
Only at this point those with higher balances will get rewarded more.