No penalty to large holders

I have been asking questions about "penalty to bigger wallets" with Magi Coin's PoS for some time and received nice explanation from Joe yesterday.

In short: there is no penalty. The only thing that someone with big wallet has to do is to split his big transactions into several smaller ones. The main reason being security.

Nothing, and doing so would be a Good Thing (tm) for the network security, which is the whole point

The problem with "normal" PoS is that you have no incentive to do the above, under normal PoS, you get the same interest if you have all your coins in a single wallet and stake a few hours once a month, than if you have your coins spread over several wallets that stake 24/7.

However, if you stake once in a month with a big wallet, you run a high risk of forking the chain, while if you stake 24/7 over several wallet, you contribute to the chain stability and security.

Under PoS miners are stakers, but the chain is not absolved from the need to "mine" 24/7, which means enough wallets need to be staking with enough coins in them 24/7.

In terms of stability and security, a whale staking once in a month has the same effect for a "normal PoS" chain as a big multipool jumping in once in a month has on a PoW coin. Unless you want the network to be unstable and insecure, you want to discourage whales from staking once in a month, and encourage them to stake 24/7.

PoS does not just changes the inflation, it changes the responsibility for network security.

nothing. but this way you would be strenghtening the network.

anyway, no need to do this since you only need to divide large transactions into several smaller ones. all of them can sit on the same wallet.

What is the Current rate of interest?

I have noble coin since last year that time price was up and now I bought again so I am in win win position as my cost came down. Noble is traded on daily basis and can  replace doge this year. It is best and secure investment.

You guys still discussing pos? Is anyone into action?

Hi Eagleflies. 

Just to clarify; are you saying that, for a large NOBL holder, the entire 'bag' can be kept in one wallet on one PC/laptop, so long as the total amount is 'split' between a number of different addresses generated by the staker?

And, if this is indeed the case, what amount qualifies as a 'large' bag?  And what is the recommended upper limit of NOBL per address?   

Joe,

we had a poll regarding PoS PoS-II before. Take a look and check people's opinions. 80-90% of people was in favor of Magi Coin's codebase.

I do not want to go into this again If we are going to start discussion from scratch every 7 days we are never going to finish.

After spending some time testing Magi Coin's PoS I think it makes sense for Noble to cherry-pick some things from Magi Coin and keep few things from standard PoS. This way Noblecoin will not be just a clone.

Could you provide an estimate when you will be able to deliver the code with modifications we agreed over IRC, please?

The plan is you make the modifications, then wallet is tested gathering as many people as possible. We look into any problems exchange opinions and after all this decide if we want to use Magi Coin's codebase or if we want to start testing standard PoS.

Don't lose faith!