What are your thoughts on this coin?
Main differences I see are the lower transaction fees and the variable POS interest. Would love to hear everyone’s thoughts on this and especially the variable interest rate concept.
interesting in general. ofcourse BC was not the first PoS coin :
but the most interesting is this
http://www.coindesk.com/vericoin-altcoin-spend-wherever-bitcoin-accepted/
Some interesting features there although I haven’t looked at it in depth lacking time to do so.
We have been discussing variable interest rates before in a thread. I think this concept is good, but it all depends on a solid execution (protocol). Just upping the rewards would only increase the inflation, which is not helpful.
I think it is a bit silly to compete on lower fees at the moment as the fee is currently less than 0.015 dollar cents for Peercoin. When Peercoin goes over $10 this might need to be adjusted. It would be great to have a protocol which automatically adjusts the fee to the number of transactions. It will require that the fees need to be clearly advertised and the changes should be relatively small and not more than once a month. There is a thread with all the pros and cons about this.
Although both of the above are nice to haves, I think a good implementation of multi-sig and making checkpoints voluntary are more important in the short term.
Blackcoin is getting rid of coinage also in an effort to increase the number of stakes. I think it is the wrong approach, but it emphasises that solutions to increase the stakes are required to make PoS standing on its own feet. NXT faces the same problems and are also frantically trying to solve this issue. Peercoin isn’t staying behind with hopefully the v0.5 release in a few months time.
[quote=“seki, post:2, topic:2602”]but the most interesting is this
http://www.coindesk.com/vericoin-altcoin-spend-wherever-bitcoin-accepted/[/quote]
Would be nice if we make such service. The benefit is, user can use peercoin-qt which is light weight to spend BTC than using those sketchy bitcoin web wallets.