actually this wont work.. we need block signers. we can give interest in addition to block reward... but thats besides the point.
pob - requires a single block signer, and the reward is the incentive. we can make reward just transaction fees and give out the 1 million in interest, i suppose.. but i still feel like the coin will be more secure with the added incentive of large block rewards.
You misunderstand. What I mean is that you earn your interest when you are lucky enough to sign a block.
Each Bergstake share, no matter what the size as long as it is above some threshold, gets the can sign a block if it wins the lottery for a given block. Upon signing the block it gets a constant block reward times a stake multiplier proportional to the size of the Bergstake share.
That keeps micro-investors from signing a lot of blocks for tiny rewards. It allows small time investors to have a chance at earnings on their stake, and rewards big investors proportionally.
[edit]And when I help a team that I can convince to use Bergstake for a coin, that's what I'm going to talk them into doing.
is that how Nxt works? this is a bit different. will show some pseudo-code asap.
the more bergstake the higher the probability of winning the lottery. the number of digits in the lottery gets smaller. the reward is always the same. and yes, micro-investors also have .01 bergstake, and can play the lotto 24/7 , probably better odds then power ball!