(Round 5 is finished!!!! No more answers, but keep your brain busy! Don't turn it into a vestigial organ!)
Hello my friends.
I hope , you had good Christmas, good - I mean - close with family, far from smartphones and internet. (unless that's the only contact with family...)
Let's talk about money, small money , insignificant money, mostly ignored money, money flow which kills us, but we keep ignoring it - fees.
Tiny amounts of money constantly disappearing from our accounts for more or less obvious reasons.
Banks should be grateful for opportunity of making money using our wages, our hard earned cash.
But they not.
Balance , you see in your account is not amount of money you have there, is amount of money you can take out without being punished by the bank. Your money not there. Your money is already somewhere in big world making more money for your bank since you paid it in your account.
Back to blockchain.
If Bitcoin, Dogecoin, Dash are our new, better, digital money used worldwide for ultrafast payments without exposure to sneaky eyes of you know who...why is not free, why there's fee?
There's few reasons, and they all legitimate.
First and most important is to prevent DoS attacks. Without fee intruder would be able to submit to the blockchain billions of empty transactions clogging transaction pool.
Second reason is decentralization, Proof of Work coin needs miners to approve transactions and keep chain independent and indestructible. And miners have to eat as well.
That's the place to mention Lightning Network... maybe next time...
Agouti is not a PoW coin, is Proof of Stake, so we don't have to pay miners. Masternode owners get their rewards straight from the blockchain and transaction fees are minimal.
But Agouti is not and will never pretend to be a second Bitcoin.
Agouti was made for different reasons. Not as alternative better money , but as alternative better charity.
Agouti has also other fees- fees for budget proposal.
At the moment there's 50AGU budget proposal fee and another 50AGU for budget activation. That's quite a lot , it will be shame to forget to add it to proposal for reimbursement. Why so high? Invented as a barrier preventing submitting of dozens not important budget proposals made by the people just to try their luck. Some masternode coins are using budgets for improvement and marketing , we -purely for charity works.
In Agouti all proposals are important, they all matter and they all will be listen to. I'm going to change it to much lower amount in next wallet update to be more accessible to people in need. That fee is burned , so no one is profiting from it anyway. AGU is still very very far from PIVX value, but maybe some day....
Let's make theoretical budget proposal.
I have diabetes and need money for insulin, but my government has better ideas how to spend money.
I need 25AGU worth of insulin every month. I can afford to pay from my wages just for one week in a month. I'm asking for sponsoring remaining part for another 5 years. I hope, I will live that long...
Question for 400AGU:
What's the total amount of AGU in that budget proposal? Round up to whole coin.
You have 48 hours for submitting answers as Direct Message to https://twitter.com/agouticoin or RottenCoin#1962 in https://discord.gg/yGCMwgz
