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Title: About PoS Post by: Shafay on February 17, 2017, 12:59:58 PM Is it right to say that PoS means being interest on coins you hold or is it something else in simple words? Kindly correct. Thanks
Title: Re: About PoS Post by: Ayers on February 17, 2017, 01:36:34 PM yeah you generate interest based on the balance you have, usually you generate 1% per month or less, the best pos out there only give you 50-100% per years, every pos coin that give you more is probably dead, can't be sustained from buyers, you need to look at those pos that have a compromise between steady value and pos interest
Title: Re: About PoS Post by: raphma on February 17, 2017, 05:46:27 PM Is it right to say that PoS means being interest on coins you hold or is it something else in simple words? Kindly correct. Thanks does PoW miners get "interest" on their equipment? no.PoS just use another way to mine blocks. i dont see it as interest. you're mining blocks and receiving the reward. Title: Re: About PoS Post by: Shafay on February 17, 2017, 06:32:30 PM Is it right to say that PoS means being interest on coins you hold or is it something else in simple words? Kindly correct. Thanks does PoW miners get "interest" on their equipment? no.PoS just use another way to mine blocks. i dont see it as interest. you're mining blocks and receiving the reward. can you tell me how exactly it is different form getting an interest? I deposited $100 on bank and get 5$ monthly. Isn't PoS like that? If not can you kindly explain me :( To me you deposit coins and get fixed return depending on the amount you have in wallet i guess never tried Thanks :) Title: Re: About PoS Post by: klarki on February 17, 2017, 07:34:23 PM Not only to keep the coins in the wallet.
Wallet is to be constantly connected to the network. Also, an important role is your weight in the network. Title: Re: About PoS Post by: Shafay on February 17, 2017, 07:43:33 PM Not only to keep the coins in the wallet. Wallet is to be constantly connected to the network. Also, an important role is your weight in the network. So it means by wallet should mostly be online ? :) .. And while offline I won't get any return on stakes? Title: Re: About PoS Post by: thebatletbet on February 17, 2017, 08:05:32 PM POS coin, you only hold youre coin can stake coin and get return
every coin is diference about spefication stake coin you must read about how much percetage reward post how long mature coin, can decision how long youre must online youre wallet to get coin use stake Title: Re: About PoS Post by: coin-investor on February 18, 2017, 10:08:27 AM Is it right to say that PoS means being interest on coins you hold or is it something else in simple words? Kindly correct. Thanks Proof of stakes is the easiest way to mint a new coin,you just need a coin wallet and a coin on it to mint new coin anyone can do this,it's more preferable than mining that uses expensive hardware I can stakes 4 to 5 wallets at the same time it's very practical . Title: Re: About PoS Post by: fred1992 on February 18, 2017, 10:17:43 AM What the best POS coins at the moment (biggest interest and not scam)?
Title: Re: About PoS Post by: Ayers on February 18, 2017, 10:25:25 AM Is it right to say that PoS means being interest on coins you hold or is it something else in simple words? Kindly correct. Thanks does PoW miners get "interest" on their equipment? no.PoS just use another way to mine blocks. i dont see it as interest. you're mining blocks and receiving the reward. in theory yes, the interest in pow mining is not the coins genrated but the fee payed from those that send transaction, and are included in each block mined What the best POS coins at the moment (biggest interest and not scam)? diamond is good, you can try it, offering 50% annual is not bad Title: Re: About PoS Post by: BestWebCreator on February 18, 2017, 10:26:36 AM Proof of Stake, it means you get free coins for having coins and have your wallet open for a certain time, the more coins you have the higher chance of getting more staked coins.
Title: Re: About PoS Post by: fred1992 on February 18, 2017, 10:44:17 AM What the best POS coins at the moment (biggest interest and not scam)? diamond is good, you can try it, offering 50% annual is not bad 50% annual is good. I have to keep wallet open and computer turned on constantly to get POS coins? Title: Re: About PoS Post by: robelneo on February 18, 2017, 02:28:51 PM What the best POS coins at the moment (biggest interest and not scam)? diamond is good, you can try it, offering 50% annual is not bad 50% annual is good. I have to keep wallet open and computer turned on constantly to get POS coins? Yes but it's to high and with that huge interest there will be inflation and if the coin has no usage or demand and if traders do not trust the coin it will end up a dead coin,dev should moderate the interest and always think of it's future you can use a 50% interest if the supply is not very high.. Title: Re: About PoS Post by: AtomicProject on February 18, 2017, 02:30:40 PM What the best POS coins at the moment (biggest interest and not scam)? best POS coin is Atomic Coin Title: Re: About PoS Post by: Ayers on February 18, 2017, 04:48:39 PM What the best POS coins at the moment (biggest interest and not scam)? diamond is good, you can try it, offering 50% annual is not bad 50% annual is good. I have to keep wallet open and computer turned on constantly to get POS coins? it's better to leave it open, but i tried to leave it closed and the pos work in any case, maybe you lost on the age of the mining, but i'm not sure What the best POS coins at the moment (biggest interest and not scam)? best POS coin is Atomic Coin what is the annual interested? and the coin is steady in value? thanks Title: Re: About PoS Post by: AtomicProject on February 18, 2017, 05:17:12 PM Quote best POS coin is Atomic Coin Quote what is the annual interested? and the coin is steady in value? thanks The Annual interested of pos of Atomic Coin is 100% its like 0.27% daily and Atomic coin is already added in 10 Exchanges and 2 online for more infor mation visit https://www.atomicproject.org/ Title: Re: About PoS Post by: Forexer on February 18, 2017, 08:45:37 PM Best POS coin PostCoin, about 10% per year, a steady growth rate https://yobit.net/en/trade/POST/BTC (https://yobit.net/en/trade/POST/BTC)
Title: Re: About PoS Post by: Arvydas77 on February 18, 2017, 09:47:43 PM I like PoS mining because it is eco friendly and doesn't use a lot of CPU or GPU resources. Ethereum also is moving towards PoS mining.
As said by others, there are many PoS coins. I like Decred, Reddcoin, Stratis and Navcoin. But you should check what are the most profitable to mine and the best option to do it is on raspberry pi. You can keep your wallet open 24/7 and get max profits. Unfortunately, not all projects support it. Title: Re: About PoS Post by: pereira4 on February 18, 2017, 11:24:19 PM I like PoS mining because it is eco friendly and doesn't use a lot of CPU or GPU resources. Ethereum also is moving towards PoS mining. As said by others, there are many PoS coins. I like Decred, Reddcoin, Stratis and Navcoin. But you should check what are the most profitable to mine and the best option to do it is on raspberry pi. You can keep your wallet open 24/7 and get max profits. Unfortunately, not all projects support it. Indeed PoS is eco friendly because there is no actual mining... the problem is, I still don't see how the "nothing at stake" problem gets solved. Also big pockets having tons of power on the network is something I don't like. In general, I would not trust to hold value in a PoS coin for long term. That's why bitcoin is the ultimate long term safe haven in crypto, it is PoW and it is the biggest network. Title: Re: About PoS Post by: tail-w-euler on February 19, 2017, 11:43:14 AM Bitcoin's consensus algorithm PoW, under the Law of Conservation of Energy, which says: "Energy cannot be created or destroyed, merely transformed.” PoW provides the transformation of Electrical Energy consumed by Miners into Economic Energy, freshly minted Bitcoin.
In regards to PoS yet to be clear. Excellent article http://www.coindesk.com/bitcoin-law-conservation-energy/ Title: Re: About PoS Post by: kiklo on February 19, 2017, 11:49:57 AM As far as a comparison of energy consumption
Bitcoin : Energy Wasteful 343 megawatts would be enough to power 285,833 US homes per second Which becomes: 20,580 Megawatts per minute 1,234.800 Gigawatts per hour 29,635.200 Gigawatts per Day 10,816.848000 Terawatts per Year https://www.thebalance.com/how-much-power-does-the-bitcoin-network-use-391280 Quote At the time of writing, the computers on the bitcoin network were doing 342,934,450 Gigahashes per second. There are lots of different bitcoin mining computers out there, but in recent months, companies have focused on ASIC miners, which use less energy to conduct their calculations. Mining companies that run lots of ASIC miners as businesses have told me that they use one watt of power for every Gigahash per second of computing that they do when mining for bitcoins. At this rate, the bitcoin network runs at 342934450 watts, which equates to around 343 megawatts. Calculations based on EIA data reveal that the average US household consumes about 1.2 kilowatts of power, meaning that 343 megawatts would be enough to power 285,833 US homes at the time of writing (May 2015). Proof of Stake is Harder to Calculate , Because it is extremely more energy efficient Because it can be run as a Minimized app on a PC, while the PC is performing other Functions Example: A Web or File Server is running 24x7 anyway, running a minimized app in addition would not show any noticeable increase in electricity required So for a Large Portion of Users there will be a ZERO increase in Energy Usage. But for your example , Let's say the PC is dedicated to Proof of Stake only. Average PC runs at 100 watts. PoS network with active nodes 1 node in 24 hours uses 2.4KWh In 1 year 1 node uses 876 KWh Minimum nodes for a PoS network to run 3 nodes would use 2,628 KWh per year Larger # of Nodes 12 nodes would use 10,512 KWh per year 100 nodes would use 87,600 KWh per year 1000 nodes would use 876,000 KWh per year 10000 nodes would use 8,760 MWh per year * If the PCs were being used for other tasks or only used a few hours a day, then the energy draw would be significantly less. ;) But in a Quick Yearly Compare 10,000 PoS nodes use less than 9 MWh per year Verses BTC using Over 10,000 TeraWatts Or put another way , the BTC network uses more electricity in 1 Minute 20,580 Megawatts per minute than a Proof of Stake Network would use All Year 8,760 Megawatts per Year :D 8) FYI: BTC Energy drain calculations above only uses the ASICS, but they also have ~6000 PCs that run as Full Nodes to store & transmit the blockchain, and their electricity usage would be comparable to a PoS node. We also don't know if the cooling systems were included in the BTC calculations or not. When , not if a Proof of Stake takes BTC place as head of the Coin world, the energy savings will be tremendous, because as BTC keeps drawing more and more power they are raising the electricity prices across the world to compensate for the increased infrastructure to support their wastefulness. Even if you are not a miner, they are driving your electricity prices up. |