Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Is the PTS network still secure after all PTS being mined out  (Read 1698 times)

0 Members and 1 Guest are viewing this topic.

Offline 520Bit

  • Full Member
  • ***
  • Posts: 90
    • View Profile
Is the PTS network still secure after all PTS being mined out
« on: February 02, 2014, 03:09:59 PM »

Wondering that how will PTS guarantee its network to be secure after all PTS being mined out? If the miner could not get PTS as an award, they would give up to mine PTS, then PTS would die. Moreover, mine PTS will not as profitable as other altcoins after all of them being mined out.
Accept BTC/XCP/MSC: 152oBitoBwHwxR5UpUQnsvWSFjYHkheDJk
PTS: PtPXhrP5jk8BPH5fFcPnBgNSrfmJ6DCFcW
PPC: PRT95iQEKUzJSb2XsPjLgdbyoSyKiDmyb9

Offline bytemaster

Re: Is the PTS network still secure after all PTS being mined out
« Reply #1 on: February 02, 2014, 05:05:39 PM »
Wondering that how will PTS guarantee its network to be secure after all PTS being mined out? If the miner could not get PTS as an award, they would give up to mine PTS, then PTS would die. Moreover, mine PTS will not as profitable as other altcoins after all of them being mined out.

There is a life-time 1% inflation so they never all mine out.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline ripplexiaoshan

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 2044
    • View Profile
  • BTS: xiaoshan
Re: Is the PTS network still secure after all PTS being mined out
« Reply #2 on: February 02, 2014, 09:05:09 PM »
Don't worry, in additional to the 1% inflation, all transaction fees will belong to miners.
BTS ID:xiaoshan

Offline Transisto

  • Newbie
  • *
  • Posts: 3
    • View Profile
Re: Is the PTS network still secure after all PTS being mined out
« Reply #3 on: February 19, 2014, 05:33:00 AM »
Don't worry, in additional to the 1% inflation, all transaction fees will belong to miners.
What is the period for this 1% inflation, year month ?

1% inflation a year doesn't look like a big incentive for miners, neither are the transactions fees.

Offline bytemaster

Re: Is the PTS network still secure after all PTS being mined out
« Reply #4 on: February 19, 2014, 06:02:46 AM »
We will probably launch a new TaPOS chain to replace PTS after it hits 2 million mined.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline testz

Re: Is the PTS network still secure after all PTS being mined out
« Reply #5 on: February 19, 2014, 06:15:45 AM »
Don't worry, in additional to the 1% inflation, all transaction fees will belong to miners.
What is the period for this 1% inflation, year month ?

1% inflation a year doesn't look like a big incentive for miners, neither are the transactions fees.

Let's look to Quark within one week it's reaches final 1 QRK per block.

Offline barwizi

  • Hero Member
  • *****
  • Posts: 764
  • Noirbits, NoirShares, NoirEx.....lol, noir anyone?
    • View Profile
    • Noirbitstalk.org
Re: Is the PTS network still secure after all PTS being mined out
« Reply #6 on: February 19, 2014, 07:33:21 AM »
after we are done figuring out our pool, NoirShares will have a small side project that will look into merged mining, this may be of great importance for those  DACs which wish to choose between the two identical momentum for their base currency. The very idea is lucrative for the entire community as it will help to keep all chains secure and moving fairly quickly. Producing such a united front also serves to strengthen the umbrella effect and assert our dominance in sector vis a vi the other competitors.
--Bar--  PiNEJGUv4AZVZkLuF6hV4xwbYTRp5etWWJ

The magical land of crypto, no freebies people.

Offline vikram

Re: Is the PTS network still secure after all PTS being mined out
« Reply #7 on: February 20, 2014, 11:21:18 PM »
We will probably launch a new TaPOS chain to replace PTS after it hits 2 million mined.

Would it be beneficial to launch a new TaPOS chain combining PTS + AGS when they are both mined out? This make AGS liquid (like you would expect "shares" to be) and simplifies future DAC equity into a single chain.
« Last Edit: February 20, 2014, 11:25:24 PM by unlimited_power »

Offline jwiz168

  • Sr. Member
  • ****
  • Posts: 409
    • View Profile
Re: Is the PTS network still secure after all PTS being mined out
« Reply #8 on: February 20, 2014, 11:51:51 PM »
after we are done figuring out our pool, NoirShares will have a small side project that will look into merged mining, this may be of great importance for those  DACs which wish to choose between the two identical momentum for their base currency. The very idea is lucrative for the entire community as it will help to keep all chains secure and moving fairly quickly. Producing such a united front also serves to strengthen the umbrella effect and assert our dominance in sector vis a vi the other competitors.

The problem with this NoirShare, it doesnt honor 10% i3 provision...

Offline emailtooaj

Re: Is the PTS network still secure after all PTS being mined out
« Reply #9 on: February 27, 2014, 01:33:34 AM »
We will probably launch a new TaPOS chain to replace PTS after it hits 2 million mined.
I'm sure this subject has come up in recent past? If not... for some reason, is there anything in the works to help incentivize miners and future PTS holds, outside of the 1% inflation. I'll try to break down my thoughts...
The whole concept of this experiment (PTS, AGS, BTS, etc.) IMO is attempting to mimic real life companies inside the digital world, being paid through shares and not "coins".
I thought I had read somewhere that PTS, at some point, would get eliminated from the market and BitX & AGS would take over. Is this true??
If it is... that's a shame. I think it would kill community trust, confidence and incentive to support any future, or current DACs.
I believe that the structure of this experiment should take on more of a "Berkshire Hathaway" structure. Where as there is one main "company" (PTS), and it has a stake in multiple sub-companies (AGS, BitX, etc.).
I know it's already set up this way, kind of, but without having a clear and concise backbone to this, I think its just shooting ourselves in the foot.
So in my mind, keeping PTS as the backbone and not injecting more PTS shares into the market after the 2million has been mined would be ideal. And it would help PTS rare in the market place, hence increasing value over time.
So, how do we keep the PTS transaction network up and running, idk...is it possible to piggy back PTS transactions with BitX and have BitX as the "currency" and mining incentive?
I'm probably incoherent  with what I'm saying, but with so many approaches and possible directions to this, and trying to sum up in 10mins.... well... ;)
Sound Editor of Beyondbitcoin Hangouts. Listen to latest here - https://beyondbitcoin.org support the Hangouts! BTS Tri-Fold Brochure https://bitsharestalk.org/index.php/topic,15169.0.html
Tip BROWNIE.PTS to EMAILTOOAJ

Offline bytemaster

Re: Is the PTS network still secure after all PTS being mined out
« Reply #10 on: February 27, 2014, 02:20:10 AM »
TaPOS blockchain would not require compensation except from transaction fees.  So this would accomplish what you wanted.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

 

Google+