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Offline coolspeed

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Will total supply of bts change if it replace POW with POS?
« on: December 14, 2013, 11:16:08 AM »

I've seen bytemaster's paper about T-POS, and I am curious about will the bts total money supply no longer to be 21 M , instead fixed at the total amount of PTS, since the POS does not need to pay hash power of mining anymore so there will be no extra "value" imported to bts network. The genesis share holders of bts don't want their shares diluted by inflation.

If so, let's come back to the original purpose of PTS. Is it still the eventual situation at most probability, for a DAC, where new comers can only obtain shares by buying from others, to win the copycats(DACs of forked ones) in the long run? I think the period of oppotunity window must be under consideration.

The same to DomainShares, AP DAC, or even keyhotee?(btw, if T-POS is the future, does keyhotee need mining?)
« Last Edit: December 14, 2013, 11:18:32 AM by coolspeed »
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Offline coolspeed

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Re: Will total supply of bts change if it replace POW with POS?
« Reply #1 on: December 14, 2013, 11:39:34 AM »
Is PTS 2.0 in plan?

As you know, the PTS achieved half of total supply in a time so short as just one month. In the period as mining lasts, the payer of the hash power the PTS network needs is share holders, by inflation. After all are mined, it's the ones who do transaction pay the hash power instead. Hash power is expensive no matter it's come from ASIC of general processors, so we can foresee the transaction fees won't be low enough, otherwise we will be in the risk of attacking. Invitus has announced that they reserve the right to lauch a PTS 2.0 to replace the PTS in honor of PTS shares. Is there a plan for PTS with POS?
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Offline bytemaster

Re: Will total supply of bts change if it replace POW with POS?
« Reply #2 on: December 14, 2013, 07:39:42 PM »
We are going to provide an alternative, more fair, mining method that we have just about completed the details on.   In my estimation the total supply for BTS will be around 4 or 5 million rather than the original 20 some million based upon our revised plans.   Good things are coming for PTS and BTS... stay tuned. 

For the latest updates checkout my blog: http://bytemaster.bitshares.org
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Offline phoenix

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Re: Will total supply of bts change if it replace POW with POS?
« Reply #3 on: December 14, 2013, 07:57:26 PM »
We are going to provide an alternative, more fair, mining method that we have just about completed the details on.   In my estimation the total supply for BTS will be around 4 or 5 million rather than the original 20 some million based upon our revised plans.   Good things are coming for PTS and BTS... stay tuned.

I'm looking forward to seeing what these revised plans are :)
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Offline Stan

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Re: Will total supply of bts change if it replace POW with POS?
« Reply #4 on: December 15, 2013, 01:59:53 AM »
We are going to provide an alternative, more fair, mining method that we have just about completed the details on.   In my estimation the total supply for BTS will be around 4 or 5 million rather than the original 20 some million based upon our revised plans.   Good things are coming for PTS and BTS... stay tuned.

I'm looking forward to seeing what these revised plans are :)

The pieces of the puzzle are smoking in plain sight all over the forum. 
We have been developing them on the threads with everyone's help for many weeks...

Some posts have already come tantalizing close to putting it all together.

Who will be the first to do so?

Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline phoenix

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Re: Will total supply of bts change if it replace POW with POS?
« Reply #5 on: December 15, 2013, 02:08:37 AM »
We are going to provide an alternative, more fair, mining method that we have just about completed the details on.   In my estimation the total supply for BTS will be around 4 or 5 million rather than the original 20 some million based upon our revised plans.   Good things are coming for PTS and BTS... stay tuned.

I'm looking forward to seeing what these revised plans are :)

The pieces of the puzzle are smoking in plain sight all over the forum. 
We have been developing them on the threads with everyone's help for many weeks...

Some posts have already come tantalizing close to putting it all together.

Who will be the first to do so?

I'm starting to see the potential system emerge, but I'm not sure what all the exact details are, so I'll just wait patiently. If I was right, I can brag to a few friends that know my predictions, if I'm wrong, almost nobody will know. ;)
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Offline BTSInvestor

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Re: Will total supply of bts change if it replace POW with POS?
« Reply #6 on: December 30, 2013, 03:38:13 PM »
coolspeed,would you please advise the link of the paper?i would like to take a look.

I've seen bytemaster's paper about T-POS, and I am curious about will the bts total money supply no longer to be 21 M , instead fixed at the total amount of PTS, since the POS does not need to pay hash power of mining anymore so there will be no extra "value" imported to bts network. The genesis share holders of bts don't want their shares diluted by inflation.

If so, let's come back to the original purpose of PTS. Is it still the eventual situation at most probability, for a DAC, where new comers can only obtain shares by buying from others, to win the copycats(DACs of forked ones) in the long run? I think the period of oppotunity window must be under consideration.

The same to DomainShares, AP DAC, or even keyhotee?(btw, if T-POS is the future, does keyhotee need mining?)

Offline coolspeed

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Re: Will total supply of bts change if it replace POW with POS?
« Reply #7 on: December 30, 2013, 04:07:04 PM »

coolspeed,would you please advise the link of the paper?i would like to take a look.

I've seen bytemaster's paper about T-POS, and I am curious about will the bts total money supply no longer to be 21 M , instead fixed at the total amount of PTS, since the POS does not need to pay hash power of mining anymore so there will be no extra "value" imported to bts network. The genesis share holders of bts don't want their shares diluted by inflation.

If so, let's come back to the original purpose of PTS. Is it still the eventual situation at most probability, for a DAC, where new comers can only obtain shares by buying from others, to win the copycats(DACs of forked ones) in the long run? I think the period of oppotunity window must be under consideration.

The same to DomainShares, AP DAC, or even keyhotee?(btw, if T-POS is the future, does keyhotee need mining?)

http://the-iland.net/static/downloads/TransactionsAsProofOfStake.pdf

You can find it at the sticky thread of General Discussion.




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