Current Proof of Stake Difficulty

[mhps]

There are 400 million shares minting. Compared with 12 days ago there has been a 190 million (90%) increase.

[Sentinelrv]

@crypto_coiner, could you please change the title of this thread? We have threads titled “Current Liquidity” and “Current Volume,” so “Current Proof-of-Stake Difficulty” sounds good to me. Also the body of the first post should be changed to reflect this as well.

[crypto_coiner]

Sounds good - done.

[cryptog]

Difficulty (PoS) 0.000274

[cryptog]

Decreasing. 0.000242

[cryptog]

: 0.00026094

[Cybnate]

Hitting a year low: 0.00020864 See also: https://blockexplorer.nu/charts/posdiff
New years/holiday dip?

[cryptog]

Not good.

[zoro]

Vacations!
Unless we can make a cold minting feature so we can mint with our mobiles anywhere

[Cybnate]

Have to admit that I’m getting a bit nervous about this. We are hitting an all time low with a PoS difficulty of 0.0001839 ( https://blockexplorer.nu/charts/posdiff)

I’ve also noticed that proposals have difficulties to progress lately. It appears that either some major stakeholders are getting lazy with minting/voting or large amounts of NSR are brought to the exchanges. Also possible is that increasing numbers are struggling to mint due to the issues with the client reported lately. The increased number of orphans might be an indicator for this. Neither of them is good. It could even be a combination of all three.

I hope I’m wrong and someone can offer a different more positive explanation or could comment on it.

[zoro]

Don’t worry too much. The majority of people in crypto universe are traders-speculators, in general “gamers”. NU is a different business.
My understanding is that when B&C is ready, a big number of those people will enter the NU space. JL knows better

[Cybnate]

a big number of those people will enter the NU space

I hope they are not the same type of ‘gamers’ though. Voting apathy might become our greatest enemy, next to low security of the network due to lack of minters.

[crypto_coiner]

I’ve also noticed that proposals have difficulties to progress lately. It appears that either some major stakeholders are getting lazy with minting/voting or large amounts of NSR are brought to the exchanges

I have been not very active on my feeds lately due to my real life duties and economic incentives.

[Cybnate]

I have been not very active on my feeds lately due to my real life duties and economic incentives.

Bet you are not the only one, hence my concerns in going forward:

Voting apathy might become our greatest enemy, next to low security of the network due to lack of minters.

Would it help to increase the voting and minting incentive in your case?

[crypto_coiner]

I am interested in discussing:

• minting incentives
• dividend over buy back
• LP custodianship easiness
• Nu business profitability

The last two being paramount, I believe

[Sentinelrv]

I’m not sure how much of a difference it makes, but I own 1% of the network and my internet connection died this weekend. I’m having Comcast over to fix it today.

If this became a problem though, we could always look again at @Nagalim’s approach with frequency voting. We didn’t delve further into it last time because it wasn’t an issue, but if it becomes one then that could be an option to protect the network.

[Sentinelrv]

• LP custodianship easiness

My understanding is that this will become easier once the new pool software is released by @woolly_sammoth and it can interface with the NuBot gui created by @desrever.

[Nagalim]

Security would be better because we can raise the mint reward and not risk complete apathetic takeover. Alternatively, we could keep the same reward (read: mint difficulty) and use freq voting to get motions passed faster (freq voting includes multi-feed combinations, and other forms of fractional voting).

Now what’s interesting is that buybacks reduce mint difficulty by reducing supply.

[Nagalim]

Check it:
A mint reward inversely proportional to the mint difficulty.

[Cybnate]

On-topic: Difficulty further down to 0.0001787 ( https://blockexplorer.nu/charts/posdiff )

Slightly off-topic again:

A mint reward inversely proportional to the mint difficulty.

I like that, although the risk is that we get people to mint only, but still not vote. Fractional voting is indeed the answer which we will inevitably arrive at I believe. The only question is when, we could postpone that by investing in ways to make the voting easier and built-in to an App. This doesn’t solve the problem that some proposals will be complex and often require priorities over daily life which obviously many of us can’t afford.

Another less popular option is what BitShares does, delegates being chosen by Shareholders.