The Dev for BC posts 1x/10-15pages. Not acceptable, especially with so many unanswered questions ! A mostly POS coin with no details of the POS parameters.
At a bare minimum 2-3 pages of the POS parameters with examples is required.
After that the Dev can go missing in action for weeks if required.
This is exactly what I mean ...even you are not clear on several parameters re BC. Reading or understanding about POS is not enough as each POW/POS coin has its own parameters.
The developer needs to clear up several of these issues instead the several 'jack of all trades' contradicting each other
As someone with a MSc in Finance I am at a loss as to how the developer[Rat] has not explained the POS in any detail that is not subject to wild speculation on this thread. The opening post says 1% pa but others say 1% per 8hours which when compounded is exponential...some others says 1% per 8hr period for those with open unlocked wallets selected at random.
No one can accurately value this coin without these basic questions answered and I am issuing a warning not to invest unless you yourself can answer the below questions:
The questions to the developer are:
1) When do untouched balances stake [days] ?
2) Will all wallets with untouched balances stake ?
3) If the answer to quest#2 is NO then which qualifying wallets will stake?
4) Is the qualification by random selection ?
5) If not all qualified wallets stake, what proportion of the 100,000,000 coins will stake ?
6) When an amount is staked how long will this amount collect interest ?
7) Is the stake interest rate 1% per annum, per 8 hours, etc, etc ?
8. Will locked wallets stake ?
9) Will encrypted wallets stake ?
10) Will unopened wallets stake ?
WARNING: The developer has a duty to clearly outline the POS parameters of his COIN
CASH is similar but has 10% per annum paid every 30 days. So with CASH you get the benefit of compound interest as I believe you would with BC.
Although I also believe that wallets with higher staking days (wallets that have been left locked longer) have a higher priority in eligibility for pos than other wallets.
This thread helps explain the pos a bit better.
https://bt.irlbtc.com/view/187714.0I have to agree with you. Devs should always be as transparent as possible like DigiByte (selfless promotion
). The website also is severely lacking and doesn't instill much confidence. Still, this seems like a decent coin. Hopfully we'll hear from the devs sooner rather than later.
