I think the problem is the BBP users that are power mining are the least likely to care less about the stats. So they are the ones more likely to cheat the system, and they also have the most to gain, they are also the ones most likely to jump to GRC to improve their ROI (they'll have the time and incentive to figure it out) by double dipping if the Team Requirement is eliminated.
So if user BBP (and I'm not trying to sully this user and claim they would do this with 100% certainty) broke up their fleet of machines into 300 separate users, they then could field roughly 18 new Sanctuaries, which would be a very positive increase in ROI and certainly worth the hassle. Or worse, suddenly have 28M BBP for sale, and destroy the current price wall.
Basically, anyone with enough incentive to cheat the system is going to be very tempted. And if 8 of the top 10 suddenly starts breaking things up to stay under the cap, then the bulk of the staked BBP will be free to flow into either Sanctuaries (reducing their yield for everyone else) or to the market (putting even more downward pressure on the price).
In the end, the issue is, and again, I point to Byteball, I'd wager any BBP person doing Byteball at WCG is not following their development nor do they (with very few exceptions) care about that coin, other than it would be nicer if it was higher priced so they could make more when they sell. But I'll wager none of our team has bought any sizable quantity of Byteball due to their introduction to it (so they've not become added value investors) and more likely than not are selling putting downward pressure on that coin. My fear is opening the team requirement will only serve to add profit takers to our ranks, and revamping the staking is not as necessary as it once might have been due to BBPPool.
Dear All,
Here is the executive summary of what I will say: "I strongly second to what West says."
Here is the content for more curious:
I came over to BBP from Gridcoin. Used to crunch about 3-4% of the project credits then with all my CPUs and GPUs dedicated to Boinc. I might say I was in that community (silently) since my day 2 of crypto mining. I like the idea of earning crypto through distributed computing since we are helping science and not simply burning power and crunching crypto puzzles. Then again, GRC profitability fell deeply in Feb-March and I started seeking for alternatives. This was about the time you were switching over to PoDC, Made my math, converted some of my coins for collateral, and been following the development since then. I actually feel even better than in GRC times, since this project also benefits orphans on top of helping scientists. I consider that double-dipping in the sense of being good and giving.
I am not a Christian, yet I believe Jesus is a prophet. I am not sharing pro-Trump sentiments, but -believe it or not- when I see on the wallet that someone is requesting prayers for their loved ones' healing, I do pray for them. This , I think, is a third way of good this coin is doing. God is Love, for anyone and anything.
See, I am both an investor and believer in PART of the causes of this coin. With all sincerity, I am asking you guys not to lift the stake requirement. First thing you will see then is, people dismantling accounts to release the coins required for staking. I know I will do. All my machines are home-built and home-maintained, and reformatting everything and starting to crunch Boinc under a new account takes approx. 90 minutes per machine. Then I will start double-dipping with GRC. Hard to believe there aren't other computer-savvy guys that will do the same. Now, I do not have an intention if that happens to sell all my coins and go away (will probably setup masternodes with the released coins), but there is no telling what these other guys will do (dumping, OMG!!).
As a summary, lifting the team requirement will not hurt us, but lifting the stake requirement may turn fatal.
I wished to remain a silent member of this community, but now I see the future of the orphans and my investment are at stake, and decided to drop my bit on the table.
I believe what will push this project beyond the limits of the bear market and provide long-term growth is adoption by the ordinary people (shoppers, or donators that do not even need to maintain a wallet and know the internals of the algorithm - not the miners).
I have been tinkering about a real-world use case that would enable shopping with certain cryptocoins with extra discount (BBP may be one of them), that has potential to increase adoption rate and thus create demand for the favored coins. Will let you know if it ever flies.
Best Regards, and Vaya con Dios