danielle
Pivian
southeast
6
Apr '17
401k Whale Contract Pre-Proposal
Accidentally posted in the wrong location, please provide suggestions to improve it.
Enlist and pay developers to build a contract into wallets that can bind multiple wallets and issue earnings while at the same time deduct and redistribute penalties and fees.
Purpose:
The 401k Whale contract is designed to encourage whales to invest their PIVX instead of holding on an exchange where risk of dumping tokens in large amounts could destabilize the market. If PIVX is to become a currency, stability should be a primary focus of concern. This plan would help pull large amounts out of the trading market which would help make PIVX a more rare and valued token. With less available on exchanges, people would need to stake with wallets to accumulate more PIVX, which would give more strength to the network.
Why is there a concern?
One would think the idea of masternodes would prevent dumping and help stabilize the currency, this is true but only to a degree of available incentives and needs of the individual. There is a person on Bittrex with over 480k of PIVX, 5 others with at least 150k-300k PIVX, the remainder have 30k PIVX or less. 80% of all PIVX on Bittrex is in the hands of just 6 people. Common sense says these 6 individuals are not the only people with enough to destabilize the PIVX market. A person like that could easily dump huge amounts to cause a scare which would lead others to dump further, this person then could buy more at a cheaper rate and repeat the process with these profits at other exchanges.
This was the huge concern over DASH tokens with traders and investors, that a few people possibly held such huge amounts that they could kill the price on investors with a huge dump once the price was high enough. There were voting concerns with some over such a massive control as well but those who invest and trade were more concerned with DASH’s price stability as a currency. If PIVX is aimed to provide a fair and stable currency, preventing the concerns people had to “bash on DASH” needs examination and solutions.
=========================
401k Structure edited to add variation suggestions - feel free to suggest changes in amounts, times held, fees, funding source ideas, etc…
Deposit 100,000 PIVX
Value increases 140,100 PIVX maturing over 5 years, plus standard masternode earnings. Deposit is linked-held in 10 masternodes and locked by programmed contract. Masternode earnings payout to designated account of the depositor daily as any other masternode does. The final 401k payout in increments after the contract fully matures.
Deposit 300,000 PIVX
Value increases to 401,000 PIVX maturing over 5 years, plus standard masternode earnings. Deposit is linked-held in 10 masternodes and locked by programmed contract. Masternode earnings payout to designated account of the depositor daily as any other masternode does. The final 401k payout in increments after the contract fully matures.
Early Withdraw Penalty:
40% 1st yr
30% 2nd yr
20% 3rd yr
10% 4th yr
After 5 yrs full deposit withdraw allowed.
Penalty is applied to deposit. Accumulation toward 401k is forfeit.
Post Maturity Reward
After 5 years, payments of 15% per month auto-deposit to account specified by depositor. After full amount of profit (301k) has been paid out, depositor may start a new 401k fund or withdraw the remaining 100k PIVX without penalty.
Post Maturity Penalties:
When the account reaches full maturity (5 years), the depositor must keep the contract open until all earnings have been depleted via the 15% monthly payout. Cancellation of contract post maturity before depositor has received all earnings = depositor withdraws only original 100k deposit and looses all extra funding payouts not yet received.
Proposal for Penalties and Fees:
Penalty fees sent to fund new masternodes owned by the PIVX community. Dividend payments from the community owned masternodes fund approved community projects only.
UPDATES:
Please remember although a few have animosity towards whales, we need to realize we would be utilizing them not just for increasing stability but also to increase the masternode and wallet count dramatically. Less amounts being dumped on exchanges also means more people will need to hold stake wallets to get more PIVX.
This plan promotes spending use and expansion of masternode network, not hording. If you buy PIVX to spend but by the time you get to the store you end up only being able to buy half as much because of dumping, nobody would want to use it for spending. You can’t get rid of whales, the best we can do is not exclude them, if we exclude them by not providing features for them then they will just use PIVX to pump and dump.
This plan would strengthen the network at least 4 ways:
The problem seems bigger than I thought - provided the “rich list” is correct, the top 100 holders of PIVX do NOT operate masternodes or stake wallets showing 0 PIVX minted. Whales are NOT supporting the network with masternodes and stake wallets, they are only hording, most likely on exchanges ready for massive dumps as soon as the price is high enough.
http://www.presstab.pw/phpexplorer/PIVX/richlist.php 17
Here are the top 2 addresses:
Combined Market Depth Chart:
http://www.presstab.pw/phpexplorer/PIVX/markets.php
Let’s give them a reason to invest in network support.
6
Apr '17
401k Whale Contract Pre-Proposal
Accidentally posted in the wrong location, please provide suggestions to improve it.
Enlist and pay developers to build a contract into wallets that can bind multiple wallets and issue earnings while at the same time deduct and redistribute penalties and fees.
Purpose:
The 401k Whale contract is designed to encourage whales to invest their PIVX instead of holding on an exchange where risk of dumping tokens in large amounts could destabilize the market. If PIVX is to become a currency, stability should be a primary focus of concern. This plan would help pull large amounts out of the trading market which would help make PIVX a more rare and valued token. With less available on exchanges, people would need to stake with wallets to accumulate more PIVX, which would give more strength to the network.
Why is there a concern?
One would think the idea of masternodes would prevent dumping and help stabilize the currency, this is true but only to a degree of available incentives and needs of the individual. There is a person on Bittrex with over 480k of PIVX, 5 others with at least 150k-300k PIVX, the remainder have 30k PIVX or less. 80% of all PIVX on Bittrex is in the hands of just 6 people. Common sense says these 6 individuals are not the only people with enough to destabilize the PIVX market. A person like that could easily dump huge amounts to cause a scare which would lead others to dump further, this person then could buy more at a cheaper rate and repeat the process with these profits at other exchanges.
This was the huge concern over DASH tokens with traders and investors, that a few people possibly held such huge amounts that they could kill the price on investors with a huge dump once the price was high enough. There were voting concerns with some over such a massive control as well but those who invest and trade were more concerned with DASH’s price stability as a currency. If PIVX is aimed to provide a fair and stable currency, preventing the concerns people had to “bash on DASH” needs examination and solutions.
=========================
401k Structure edited to add variation suggestions - feel free to suggest changes in amounts, times held, fees, funding source ideas, etc…
Deposit 100,000 PIVX
Value increases 140,100 PIVX maturing over 5 years, plus standard masternode earnings. Deposit is linked-held in 10 masternodes and locked by programmed contract. Masternode earnings payout to designated account of the depositor daily as any other masternode does. The final 401k payout in increments after the contract fully matures.
Deposit 300,000 PIVX
Value increases to 401,000 PIVX maturing over 5 years, plus standard masternode earnings. Deposit is linked-held in 10 masternodes and locked by programmed contract. Masternode earnings payout to designated account of the depositor daily as any other masternode does. The final 401k payout in increments after the contract fully matures.
Early Withdraw Penalty:
40% 1st yr
30% 2nd yr
20% 3rd yr
10% 4th yr
After 5 yrs full deposit withdraw allowed.
Penalty is applied to deposit. Accumulation toward 401k is forfeit.
Post Maturity Reward
After 5 years, payments of 15% per month auto-deposit to account specified by depositor. After full amount of profit (301k) has been paid out, depositor may start a new 401k fund or withdraw the remaining 100k PIVX without penalty.
Post Maturity Penalties:
When the account reaches full maturity (5 years), the depositor must keep the contract open until all earnings have been depleted via the 15% monthly payout. Cancellation of contract post maturity before depositor has received all earnings = depositor withdraws only original 100k deposit and looses all extra funding payouts not yet received.
Proposal for Penalties and Fees:
Penalty fees sent to fund new masternodes owned by the PIVX community. Dividend payments from the community owned masternodes fund approved community projects only.
UPDATES:
Please remember although a few have animosity towards whales, we need to realize we would be utilizing them not just for increasing stability but also to increase the masternode and wallet count dramatically. Less amounts being dumped on exchanges also means more people will need to hold stake wallets to get more PIVX.
This plan promotes spending use and expansion of masternode network, not hording. If you buy PIVX to spend but by the time you get to the store you end up only being able to buy half as much because of dumping, nobody would want to use it for spending. You can’t get rid of whales, the best we can do is not exclude them, if we exclude them by not providing features for them then they will just use PIVX to pump and dump.
This plan would strengthen the network at least 4 ways:
- More masternodes and wallets.
- Create more PIVX for spending.
- More nodes and wallets means more money for PIVX community budget.
- Provide stability as a primary reason to use it for spending as currency.
The problem seems bigger than I thought - provided the “rich list” is correct, the top 100 holders of PIVX do NOT operate masternodes or stake wallets showing 0 PIVX minted. Whales are NOT supporting the network with masternodes and stake wallets, they are only hording, most likely on exchanges ready for massive dumps as soon as the price is high enough.
http://www.presstab.pw/phpexplorer/PIVX/richlist.php 17
Here are the top 2 addresses:
- 1,586,060.47 PIVX (1,271.2 BTC) % of Total supply: 3.002 Total Minted & Minted Supply 0 %
- 1,060,390.00 PIVX (849.9 BTC) % of Total supply: 2.007 Total Minted & Minted Supply 0 %
Combined Market Depth Chart:
http://www.presstab.pw/phpexplorer/PIVX/markets.php
Let’s give them a reason to invest in network support.