Groestlcoin Forum

Groestl => Project Development => Topic started by: gruve_p on July 22, 2014, 12:00:44 am

Title: Announcement regarding PoS, Groestlsend and call for new teammembers
Post by: gruve_p on July 22, 2014, 12:00:44 am
Dear community,

The big stake holders and the majority of the investors are already notified of this announcement.
PoS hybrid and groestlsend was promised and I (me) decided to drop it.

This is why:
- Mindfox is one of the biggest PoS brains out there. He has his hands full with other projects, does not sleep and does not even have time to spent with his family. We don't want to destroy his life. He came onboard our team on a project basis for PoS hybrid and Groestlsend. We decided to relieve him from this burden and wish him all the best with all future projects.
- What good did PoS do for coins that are recently switched to it? Did the price rise? Í don't believe in unlimited coin supply. With more coins mined at a high rate, prices will decrease cause of more fresh supply. PoS encourages holding the coins as investment, avoiding it's circulation, i.e. true use as a cryptocurrency. Then worst PoS looks at the coin age: the longer you're holding a large amount of cryptocurrency, the higher the chance of mining a block, which further reduces chance of circulation. What good did anon do? Except the risk being banned by a government. Real anon does not exist, only hard to trace. In the end when u want to cash out your coin, you still will need to identify yourself. PoS and anon is just a hype nothing more.
- We don't want to sell our soul. Innovation is good but instead following other coins we decided to keep our identity. Why did I implement the Grostl algo in our coin? Because its fairer to all miners and AES accelerated. If we will go PoS hybrid then it would not be fair (rich people will get richer like in real life with fiat money). Also the AES acceleration will be of no good (we still have a browser miner planned at the end of this year).
-PoS wallet problem: staking on a mobile wallet will deplete the battery very quickly.
-PoS vulnerabilities:
There is a reason why blackcoin is not being accepted on Kraken and why they are working on PoS 2.0. The vulnerabilities weigh heavier than the advantages for me.

We are delivering new services, merchants and other stuff on a daily basis. For the people that are asking for any news and new development:
-Take time to register on this forum and keep an eye on it. We are updating it on a daily basis.
-Follow the OP on our Bitcointalk thread. Everything is being placed under news.

I'm saying this because it's now time for you to step up as a community and do anything/something for this coin. In order to keep this coin alive we are reaching out for volunteers (moderators for reddit, tweeters, facebookers, bloggers, community managers, advisors, service providers etc etc.) Ask yourself what can I do for Groestlcoin? Sitting safe and waiting for news behind your pc won't do you and Groestlcoin any good.  Again we need a bigger team and are calling the community to STEP UP!

Your sincerely,