Quote from: coininvestor on July 23, 2014, 05:23:57 PM

Quote from: papersheepdog on July 13, 2014, 03:23:13 AM

Quote from: BTCat on July 12, 2014, 07:08:41 PM

Quote from: WillShill4BTC on July 12, 2014, 06:45:45 PM

The wallet seems to use 3% of my cpu (a Haswell). Not minting, 7/8 connections.
Is it supposed to? Or a feature to be ironed out?

It's in the OP:
"To qualify for interest an investor must keep their funds unspent in their wallets for a minimum of 30 days (for 1.2% interest), and up to a maximum of 90 days (1.5% interest)."
You don't need to have the wallet open all period, just keep your coins in.

Quote from: shtako on July 12, 2014, 06:34:00 PM

But maybe something as simple as a competition where people post screens shots where they have solved a POS block, and a random winner is picked for a prize?

I like this idea of promoting minting from POS. The more coins in personal wallets the better. Banks provide some interest on savings but now crypto's can perfectly do this too, people should be more aware of this so they can store more of their 'money' in other ways. Not put all in one basket they say and a bank is just one basket.

I thought another payment provider for crypto's, but it does something else, seems to work with Coinpayments: http://www.picca.co.uk/
Btw has updated design and all, looking good: https://www.coinpayments.net

Development Workshop - CGB PoW/PoS Hybrid Security Model - Protocol Improvements

Please also see the Reddit post for further discussion.

PoS security participation is a very important consideration. The next client rebalances the minimum times to 1 week (1.2%) and 30 days (1.5%), but of course discussion is ongoing. The intent of this is to bring in more PoS blocks. This, combined with merged mining on the PoW side (hybrid) should provide for a more robust security stance.

I had another idea that we could have the protocol reward all unclaimed interest at each block to the winner of the minting process. So they would receive the standard 1.2 or 1.5%, plus the interest accumulation for that block (or tick), of all wallets who are sitting yet again unclaimed while already at max return. Some fundamentals: Currently CGB rewards 1.5% every 90 days, or quarterly. If we wait for a year to mint, we will only receive one quarter's interest, even though we saved it for a year.

In this scenario, that interest that could have been claimed for the other 3/4 of the year will have gone to active participants as a greater reward, without diminishing the *intended* inflationary profile of CGB. In the current environment, we know that all coins are not being used for minting. This affects the 1.5% (out of 2% total) of our target inflation. I am sure the exact data can be pulled from the blockchain (and would encourage anyone capable to give it a try). So we can say for sure that this measure would increase inflation, from whatever its at (likely below 1.2% I would guess), to the intended range of between 1.2 and 1.5% depending on which timeline is more popular.

This is a small detail but CGB was mined into existence, with a flow still being produced via PoW security. We now take this existing CGB and create new CGB in the form of interest. The parallel with gold and silver coin production here is why I prefer to use the term "minting," but staking is OK too. An interesting thing to note about PoS minting is that the interest provided is what they call a zero sum game. This means that for a real increase in the value of your holdings, someone else had to not mint their coins, thus giving you relatively more. In other words, if everyone got 1.5% interest, the relative value of all holdings would remain unchanged.

If a system like this were to be implemented, we could see a real boost in payoffs for winning a PoS block. It may even spur competition to spread the most coin age across available blocks to try and win more blocks, and not just focus on your plain interest. I think we could see bigger wallets broken down to competitive sizes. Hmm... Had not yet thought this part through too much yet. Suggestions welcome.

Pros and cons of adjusting the reward itself have been discussed here.

papersheepdog, Canada

I am confused now and forgive me if this has been asked a million times before but is the 1.5% interest per year or per quarter? You said in the above post that Currently CGB rewards 1.5% every 90 days, or quarterly, but I have read elsewhere that interest is 1.5% annually. If it were 1.5% quarterly then that is more like 6% annually. So just to be clear, if I left my wallet open and staking continually what would the interest be? My next question is if the interest is only 1.5% per year, is there a reason why it is so low. What would be the advantage to me as an investor investing in CGB over a coin which offers 5% or 10% per year?

1,5% i annually, but to achive it you must mint when the coin age is exactly 90 days. If you mint every 30 days you get 1% annual interest.

If a coin have 10%, 100% or 1,5% annually POS interest is completely irrelevant. Your total % of the money supply will be the same either way. But you will problably be much better of with CGB and 1,5% since there will be fewer people minting for that low interest. With fewer minting your total % of the money supply will increase.