Re: BiblePay✟CPU✟Governance✟Help Orphans✟PODC Cancer Mining✟Deflationary✟Masternodes
I'm sorry but just by reading the last few posts you wrote, I don't understand how that system is supposedly much easier to understand.
You talked about the terms used by PODC as a way to show how difficult it is to understand, but POG has quite a few of them too as someone previously pointed that out.
There are way more variables you need to take into account to properly understand and estimate how "profitable" mining Biblepay would be and if you should mine it or mine another coin.
Again, I think you will end up with very confused people asking why their wallet is "stealing" their coins and sending them to the foundation address, why they're giving x amount of coins but just receiving y, people making a mistake and asking if the foundation can refund them, etc.
Also, can we just close the poll/thread in the other forum since it obviously won't be taken into account last the last poll?
You talked about the terms used by PODC as a way to show how difficult it is to understand, but POG has quite a few of them too as someone previously pointed that out.
diff, min coin age, max tithe amount, min coin amount, reaper reward, sower reward etc..
There are way more variables you need to take into account to properly understand and estimate how "profitable" mining Biblepay would be and if you should mine it or mine another coin.
Again, I think you will end up with very confused people asking why their wallet is "stealing" their coins and sending them to the foundation address, why they're giving x amount of coins but just receiving y, people making a mistake and asking if the foundation can refund them, etc.
Also, can we just close the poll/thread in the other forum since it obviously won't be taken into account last the last poll?
I don't know if one should laugh or cry over this.
Look on the bright side: we are discussing a possible algorithm change openly with people pointing out potential exploits and challenges. It is like a board meeting with nothing paid to consultants
I am against POG in general since it sounds like a lottery (with somewhat predictable results and a definite profit in the end of the day) which reduces the cost of minting coins. When you tithe 300 BBP and get 4800 BBP (more or less, according to a calculation based on 100k BBP tithe cap and 1.6M BBP emission per day), you have no reason to be picky about the market price to sell them. Most people will just dump these easy earnings for BTC. My personal belief and experience is that nothing without effort and pain behind it holds any value. PODC is hard work and pain (if you are not just renting out cloud servers).
We should keep discussing, not until consensus, but until a clear majority of opinion. My biggest worry at the moment is that the progress seems to be too fast. We had a vote in the forum that ended with the rejection of POG. A bit too quickly, POG-2 was put on the table with another poll for it (which is going towards rejection of it again, by the way); and then over a quick public talk between Togo and Rob we now have a masternode proposal being voted. Why the rush? I mean, the bear market is not going anywhere, and we are already close to rock bottom. Even junk coins with no features or future potential have 200kUSD market cap, and we are a bit above that (despite all the pros and provable charity associated with BBP). It's not like we will self-destruct if we continue things as they are, right?