As has been said a thousand times in this thread it is 1% nominal interest. That 1% can be compounded as much as every 8 hours. If you don't understand what compound interest means then go look it up. If you don't think that will be enough POS then don't bother, leave it to the people who actually understand.
I don't really understand it because of the randomness nature of it. Could you tell me if I have lets say 0.1% of the total coins i.e. 100k BC, and the PoS begins, how many am I expected to have after 10 days? 100 days? year?
Thanks!
look, after a years you can without any big problem use simple interests of 1%.
So, 100k*(1,01)=101k,something...
No, I dont' think that's what artiface said.
uhm...even i you use compound interest, is very little more than 1% per year.
Do the math. If you compound 1% 3 times a day your actually getting about 120% in one month. Again it's doubtful that your coins will stake every 8 hours, but even if your coins stake 1% only once every 3rd day - 10 times in a month, that comes out to 10% real interest.
For one, that would be 10% nominal interest, which is greater than 10% real interest. If the PoS is 1% nominal and its compounded every 8 hours then you would receive 1/(365*3(compounded 3 times a day))% per compound period. So that equates to about 0.00091% interest every 8 hours.
Post
Topic
BoardAnnouncements (Altcoins)
Re: [ANN] RapidCoin - Just Launched! [FAUCET] [POOLS] [BOUNTIES]
I can confirm the Launch will NOT be happening today. The time of the launch on the specified date when official.. will be in the evening, either 17GMT or 18GMT.
I will update and notify everyone with the official date with a countdown timer, Penguincoin is aiming for a fair and smooth launch.
The reason why there isn't an official release date is because we don't want to rush in with the launch until everything is spot on.
Best regards.
DANG! I was gonna mine so hard! I'll check back tomorrow ...
Post
Topic
BoardAnnouncements (Altcoins)
Re: [ANN] [PENG] Penguincoin - Launching soon.
by
b-raptor
on 01/02/2014, 16:40:01 UTC
Sooo... about that launch time.... Any luck you'll let us know when? I'm getting anxious.
i had thoughts about TUX coin in my head fo a while. But PENG or PGC or PNG or how you call this is really lame. Also announcement and promo is lame. If done right this could be a hit, but you did it really wrong ;/
How has it been done wrong?
The abbreviation has nothing to do with the coin really...
This will be a hit! I can feel it in my bones!
You MUST shape this coin into linux theme, linux penguin is TUX, linux people are devoted. I am also linux user and lover and i am telling you this needs to be TUX coin.
Although I agree that a linux coin would be cool, I am a fan myself, but relating a coin to an operating system would be like coming out with a car for midgets. Midgets a cool, just not as many midgets as their are "non midgets", so their market reach would be decreased. Don't get me wrong, there will probably be a Mint coin or a Fedora coin... oh wait...
i had thoughts about TUX coin in my head fo a while. But PENG or PGC or PNG or how you call this is really lame. Also announcement and promo is lame. If done right this could be a hit, but you did it really wrong ;/
How has it been done wrong?
The abbreviation has nothing to do with the coin really...