Re: [ANN] Bitcoin Interest - Fork 1:1 of Bitcoin - Decentralized Savings Community
Hello,
Normal i don't follow forks of bitcoin but this one can be interesting to follow for a while.
Readed that 30% of the block rewards are going to the interest pool.
As this is a fork of bitcoin, the block rewards are also the same as bitcoin?
Normal i don't follow forks of bitcoin but this one can be interesting to follow for a while.
Readed that 30% of the block rewards are going to the interest pool.
As this is a fork of bitcoin, the block rewards are also the same as bitcoin?
No we do not take 30% from the block reward. We have revised the original PoW and call it Enhanced proof of work as the block no sends two rewards. THe miners still get 100% of their reward at 12.5 and another 1.08 is sent to interest pool.
70% of the pool is used for monthly payout and 30% is set aside for weekly payouts.
What are the two periods of interest needed for?
The two pay periods are for those who want to get interest on a monthly basis, which yields the higher reward, and also we have a weekly payout option for those who want to get paid weekly.
The point is some people have a small amount of BCI, so monthly will yield them a better reward, where if you have a ton of it you could possibly make more during weekly payments. Basically the point is to give people options
Thanks,
Aaron
Its great to know about the timelines on what basis we can park our coins and gain interest, this seems really great to park our coins and gain interest instead simply holding the coins like others do. This innovation is really a great achievement where huge people like it. Hope this promising project will surely succeed.
The beauty of this is you still get to hold your coins safely in your own wallet and can gain interest on that. So that way you don't have to trust anyone but yourself to protect your coins
Thanks,
Aaron