Even if it is, I think it is a great idea. My only objection is the number of total coins. It will take an eternity for this coin to ever reach a dollar. Each human on earth will have to buy a little over fourteen coins for ZeitCoin to have a 99 billion dollars in market cap. Is it possible? Yes, will it happen? I don't think so. But if you buy a million of them and wait for it to become a dime, you'll get a hundred grant out of less than a hundred dollar investment in about two years. It is worth it.
What are the total number of coins? The price of each individual coin doesnt matter the percentage of total coins you own is what matters. If you own 1 21millionth of the total supply thats equivalent to owning one bitcoin
The biggest question with POS is how do we know there is proper distribution? If someone owns 50% of the coins they could already be completely controlling the network.
Does a portion of the block rewards go to some eco org? Is it the selling point just that it's proof of stake rather than proof of work?
Even if it is, I think it is a great idea. My only objection is the number of total coins. It will take an eternity for this coin to ever reach a dollar. Each human on earth will have to buy a little over fourteen coins for ZeitCoin to have a 99 billion dollars in market cap. Is it possible? Yes, will it happen? I don't think so. But if you buy a million of them and wait for it to become a dime, you'll get a hundred grant out of less than a hundred dollar investment in about two years. It is worth it.
What are the total number of coins? The price of each individual coin doesnt matter the percentage of total coins you own is what matters. If you own 1 21millionth of the total supply thats equivalent to owning one bitcoin
Great analogy. I found this article from Feb. on the coin
http://www.digitalcurrencyalliance.com/altcoin-news/zeitcoin-pos-go-ultra-low-inflation/
The biggest question with POS is how do we know there is proper distribution? If someone owns 50% of the coins they could already be completely controlling the network.
I don't see it that way, for me, POS just means more owners to the network and less centralization.
But a big whale who sold all his coins a long time ago has the power to create blocks quickly and rewrite history to regain his holdings