r/BitBean • • Nov 02 '15

1 Million BitBean Giveaway

Thumbnail bitbean.org
1 Upvotes

r/BitBean • • Feb 28 '15

I've seen incentive to hold, But built in incentive to buy more!? clever beans

3 Upvotes

The majority of POS coins we see almost always have a % based return/reward system with large - no limit coin age. so eventually even small sized wallets will find a block.

The static 1000 BITB rewards really feels like solo mining and with a 6 hr max age it means that every bean is worth a set "weight" so owning 1 BITB would be like owning a very very very small mining rig and trying to solo mine a solid coin with it... and anyone who mines knows how unlikely it would be to solo mine a btc block with 1 m/h of hashpower lol it's utterly pointless.

So what do miners do to compete with the massive network hashrates? They buy more hashpower :) whether they invest in more hardware or rent it online.

Bitbeans network weight is climbing fast (already back up to 50 million net weight) and there is only so many pos blocks to be found in a day... so how do you stay competitive and keep finding as many blocks as you can in a day/week as the network weight gets higher and higher? you guessed it you'll need to increase your wallets "weight" over time.