Ninjastic
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Board Announcements (Altcoins)
Re: 🚀[ANN]|[BSX] Bitspace |POW/POS |NIST5| POS 50% in less than 15K blocks 🚀
by
nostromo
on 07/04/2018, 18:27:14 UTC
Quote from: hammz on April 07, 2018, 06:05:54 PM
Quote from: tvance929 on April 06, 2018, 08:43:57 PM
Quote from: hammz on April 06, 2018, 08:38:45 PM
Quote from: tvance929 on April 06, 2018, 08:03:35 PM
Quote from: may142012 on April 06, 2018, 07:53:22 PM
Quote from: tvance929 on April 06, 2018, 05:13:37 PM
What is the max supply of this coin?

Around 20 millions (guess number, 50% of blocks are from POS), POW ends at block 450 010.

I really like a lot about this coin but it seems so strange that the max supply is not described anywhere.   The first page says that POS will continue 'forever' which cant be right and scares me.
After POW end (at block 450 010) there will be around 20 M BSX coins in existence. (in like 5-6 months from now)
After block 450 011 BSX will be pure POS coin with reward 50% interest per year up to block 1 000 000 (block 1 000 000 will be reached in one year from now).
After block 1 000 001 BSX will be auto switched to reaward POS 10%  interest per year forever.

First year      = 25 M (up to block 1 000 000)
Second year  = 27.5 M (+10%)
Third year     = 30.25 M (+10%)
etc....(with every new year + 10% coins)

(We will update OP about max supply)


Thank you seriously for that explanation... If you are so inclined, can you explain how this wont affect value since there seems to be a never ending amount?  

I mean, it's a unique way of doing it and I like the idea ( big fan of 10% POS ) ... but I just worry about the fact that it will grow by 10% every year... I know it will be diminishing as people spend and dont stake.   Hmmmm...  breaks my brain just trying to understand the implications.

Once POW will end. You will not be able to mine with GPU miners anymore. (inflation will fall from 10.000% to 10% only)
New coins will be generated only via staking. Only holders will be able to generate new coins. This situation will bring uptrend in value.You will see.



Until block 120 000 there are around 130 k new BSX generated every day (POW reward 100 bsx per block+ POS mining 10% interest per year)

After block 120 0001 there will be generated max around 80 k new BSX every day (POW reward 50 bsx per block+ POS mining 50% interest per year)

After block 450 010 when POW will end..... There will be generated only around 25 K BSX per day.  (Only POS generates new coins with reward 50% interest per year)

And after block 1 000 001 when POS will be autoswitched back to POS 10% interest per year. There will be only around 5 K BSX generated every day.