In case you haven’t read this elsewhere, this is your final chance to ask Sunny King a question. According to Ben…
[quote=“Ben, post:55, topic:1761”]LAST CALL FOR QUESTIONS (for this round of interviews) will be Friday, April 3, at 12:00 AM EST (GMT-04:00).
We’ll get the polls up within a day or two, so expect to see those by early this weekend![/quote]
Don’t feel ashamed for wanting to ask multiple questions. DO IT! There is no limit. I myself asked 14 questions in the thread. Do you need to know more about Peercoin’s purpose, its marketing, how it works? Do you want him to refute some kind of criticism you always hear? Now is your last chance to ask these questions. Don’t say we didn’t warn you!
To be clear, there’s no indication that this is the last set of interviews – just the last chance for a while. In any case, any question is worth asking, and you may bring up something that the community turns out to be really interested in.
To be clear, there’s no indication that this is the last set of interviews – just the last chance for a while. In any case, any question is worth asking, and you may bring up something that the community turns out to be really interested in.[/quote]
i have some questions for SK, is this the thread to put them or do I look somewhere else?
[ul][li]Only 4333 blocks are minted per month, on average. What happens if more than 4333 peers want to mint?[/li]
[li]Only 1 block is minted per 10 minutes, on average. What happens if more than 1 peer wants to mint?[/li][/ul]
[quote=“Chronos, post:5, topic:2142”]You could create a new thread for each question.
Think of it this way:
[ul][li]Only 4333 blocks are minted per month, on average. What happens if more than 4333 peers want to mint?[/li]
[li]Only 1 block is minted per 10 minutes, on average. What happens if more than 1 peer wants to mint?[/li][/ul]
Still seem like a flaw? :)[/quote]
I don’t know if there is a misunderstanding here. I think the point of the question is that if we have 100000000 people who want to mint, the odds are that they will never get any coins. The most rational thing for them to do then, is to pool their coins and mint together and share the reward. When people start to pool their coins, we get centralization. People should care about this, but they don’t; its the tragedy of the commons sort of. As it is designed right now, people would expose themselves to third-party risk (pool take their money and leave) which could dampen the greed somewhat. What happens then is that only the really wealthy would be able to mint (everyone would be able to mint, but variance has it, that only those with a lot of money think its worth it). Yea well… I don’t know.
[quote=“pillow, post:6, topic:2142”][quote=“Chronos, post:5, topic:2142”]You could create a new thread for each question.
Think of it this way:
[ul][li]Only 4333 blocks are minted per month, on average. What happens if more than 4333 peers want to mint?[/li]
[li]Only 1 block is minted per 10 minutes, on average. What happens if more than 1 peer wants to mint?[/li][/ul]
Still seem like a flaw? :)[/quote]
I don’t know if there is a misunderstanding here. I think the point of the question is that if we have 100000000 people who want to mint, the odds are that they will never get any coins. The most rational thing for them to do then, is to pool their coins and mint together and share the reward. When people start to pool their coins, we get centralization. People should care about this, but they don’t; its the tragedy of the commons sort of. As it is designed right now, people would expose themselves to third-party risk (pool take their money and leave) which could dampen the greed somewhat. What happens then is that only the really wealthy would be able to mint (everyone would be able to mint, but variance has it, that only those with a lot of money think its worth it). Yea well… I don’t know.[/quote]
That sure is a good question for Sunny King. It’s a bit annoying if you have to wait a few years to get a chance to mint
Have anybody thought of a solution to this problem?
Seriously, though, it will always be a problem that tiny stakes cannot mint, no matter how quickly blocks are generated. The only solution is some kind of pool, which has its own set of risks and challenges. See also: http://www.peercointalk.org/index.php?topic=3029.0
