Re: PopCoin- The World's First Proof of Play Cryptocurrency - 2 ETH FREE!
Thanks for your feedback! After collecting some additional last minute input we decided there were a few small features that should be added to the contract. Everything is in place now and we're just going through the final testing stages, feel optimistic for a launch early next week.
Regarding your point about rake, we agree 3% in a vacuum would seem high, but keep in mind the majority of this rake doesn't go to the game or the developers, it goes back to the players.
Because of this players, especially early players, have an interest in and benefit from a healthy rake. We're intending to launch with the percentage of PopCoins the developers mine (and thus percent of rake they're entitled to) set to 30%. This number is set in the contract itself and can possibly decrease but can never increase.
So: 3% * 0.3 = a total of a 0.9% rake for the game/developers which we think is very reasonable and below most dice sites or other popular forms of crypto gaming. The remaining rake the players are entitled to and can redeem their PopCoins for at any time. This is all enforced through the contract itself, no trust is required of us at any time.
Hope that answers your questions, and we'll keep working on the design too
Regarding your point about rake, we agree 3% in a vacuum would seem high, but keep in mind the majority of this rake doesn't go to the game or the developers, it goes back to the players.
Because of this players, especially early players, have an interest in and benefit from a healthy rake. We're intending to launch with the percentage of PopCoins the developers mine (and thus percent of rake they're entitled to) set to 30%. This number is set in the contract itself and can possibly decrease but can never increase.
So: 3% * 0.3 = a total of a 0.9% rake for the game/developers which we think is very reasonable and below most dice sites or other popular forms of crypto gaming. The remaining rake the players are entitled to and can redeem their PopCoins for at any time. This is all enforced through the contract itself, no trust is required of us at any time.
Hope that answers your questions, and we'll keep working on the design too
Thank you for responding, I was hoping you would, because I looked at your pitch and it looks like time was invested in there. Do make sure you give people like us some lead time before you launch, since we are all clearly interested and would like to play when they game is up.
Now that the rake is explained you are right. Just below 1% for developers is very fair.
I have 1 question: what if all popcoins are mined and nobody ever wants to claim the rake? Is this possible as from what I am reading it almost seems likely everybody will just try to mine popcoins til they are gone, and then nobody wants to claim, there is nothing worth left to mine, won't nobody want to play?