Re: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!!

have the details of PoS changed with the new wallet? Or is it still hold for 365days to get 20%. I thought I heard it changed, but I havent moved my coins since April and nothing is staking in v1.0.3.

we are now finalising an update that will change the POS to weekly instead of yearly, 0.1% per week

0.1% per week is too little,0.25% is ok .

this number has been decided by the community in an IRC meeting Cheesy

Was 0.1% agreed on? that wouldn't attracted investors as they could just place there money in a high interest account at a bank to get 6-8% interest per year. We need to at least aim to beat this so investors would find it lucrative!?

I would be very interested to know the name of a bank that is paying 6-8% interest on anything. I have money standing by.

first listing on google i found by typing '6% interest bank account' - took 5 seconds

http://www1.firstdirect.com/1/2/savings/regular-savings-account

i shouldnt be getting involved in this but read the fine print, thats only for the first year with a maximum of 3600 pounds. a more realistic "high interest" account is along the lines of .9% annually and even then its only promotional...

i do however agree with you that its problematic to lose your stake that you started in January, does anybody know if you get the interest on what you already staked?

20% doesnt seem feasible long term either, we should find some common ground that will make the most people happy