Quote from: Cryptoid on July 23, 2014, 02:38:30 AM

Quote from: cointradero on July 23, 2014, 01:59:56 AM

Quote from: Cryptoid on July 22, 2014, 09:03:15 PM

Quote

There are always a vocal minority of majority bagholders that want full PoS because they believe it increases the value of their bag. It has nothing to do with anything else besides the mistaken belief that somehow limiting supply increases demand.

It does not. All it does is drive away miners which are the major source of liquidity in a nascent coin that doesn't have much use in the marketplace.

With that second sentence, I'm not sure if you are for or against PoS.

Also, I'm not sure where you are going with the statement: "always a vocal minority of majority bagholders that want full PoS"
Sorry, but "always" implies Proof of Stake has been around for years when Poof of Stake is an infant technology.

Well, you sound defensive. If your attacks against my statements are reliant upon debating the loose use of the word "always" then you are stretching. I meant that since Blackcoin skyrocketed, there have been so many full PoS coins and other coins clamoring to go full PoS, and it's usually led by a minority of the coin community who happen to hold a majority of the current coins in circulation. Hence, they stand to gain the most from full PoS as they are effectively the gatekeepers to most current and future coins without them having to worry about losing out to increased mining interest.

PoS is not in its infancy. In cryto-terms, it's old as could be and originated with Peercoin which almost every PoS coin borrows heavily from. It will be two years old next month. Full PoS is relatively new, but so saturated in the marketplace at this point that switching to it does nothing from a demand standpoint.

My apologies if what I said sounded like an attack, not my intention...

Also, not defensive, just trying to understand your statement, "mistaken belief that somehow limiting supply increases demand". Not not sure how PoS limits supply.

As for PoS in general, I'm neutral. As for LOGIC, I believe it was the Devs intention all along to use PoS to achieve the rest of the coins up to 10 million, but I may be wrong. There may be some other plan in the works to achieve the total. PoW only achieves ~4.2 million.

On PoS being new, I guess we'll have to agree to disagree.

Unless the interest rate is ridiculously high (> 7% annually), whatever coins in circulation would take a over a decade to double again. Hence, the first 4 months would produce X number of coins, and then it would take at least a decade to make that many more again.

Now I don't actually know what the planned PoS interest structure is for this coin, but if it's too high, then it promotes only hoarding. With only one exchange, you really don't want to take away one of the only other means of acquiring the coin.

Now I'll also agree that the halving rate is really quick on this coin as is, so it isn't like there is a ton of traditional mining left to do, so the argument is kind of pointless to make either way, but the above statements about changing a mined coin to full PoS stand just because the end result is a distribution like I mentioned above where early adopters hold an inordinate amount of power over the price and liquidity of the coin.