Bitcoin Forum

Alternate cryptocurrencies => Altcoin Discussion => Topic started by: Enzyme on February 12, 2015, 01:39:28 AM



Title: [POS Coin] How does Staking work?
Post by: Enzyme on February 12, 2015, 01:39:28 AM
Hey Guys,

I tried 'splitting' my coins by sending a transaction to myself consisting of half my coin count.
I think I may have misunderstood how 'splitting' works.

Anyway, how do you gain the highest weight with the lowest amount of coins?

Thanks :)


Title: Re: How does Staking work?
Post by: DannyHamilton on February 12, 2015, 03:06:34 AM
Hey Guys,

I tried 'splitting' my coins by sending a transaction to myself consisting of half my coin count.
I think I may have misunderstood how 'splitting' works.

Anyway, how do you gain the highest weight with the lowest amount of coins?

Thanks :)

I'm not sure what you are trying to do.

Why did you send half of your bitcoins to yourself?

Why are you trying to "split" your bitcoins?

What do you mean when you say "highest weight"?  Bitcoins are electronic, they don't weigh anything.


Title: Re: How does Staking work?
Post by: Quickseller on February 12, 2015, 03:49:22 AM
I think you have Bitcoin confused with a PoS coin.

With Bitcoin, having fewer, and larger inputs will most likely be advantageous to you because, all else being equal, will result in a greater chance of qualifying for a free transaction, or if not then will generally have a lower minimum TX fee required to have a good chance that most miners will quickly confirm your tx.

With NXT (the only PoS coin I am even vaguely familiar with), either having a lease on an account, or having an account with a larger amount of coins will increase the chances of you finding the next block with the relationship between the chance of finding the next block and the amount of coins you control being linear. I do not believe there to be any advantage of splitting up your coins (when discussing staking) when dealing with NXT, other then the fact that having your coins split up will make it easier to hide a potential attack on the network.

I believe there are other variations of PoS coins that cause them to act in a similar way that interest on bank accounts works, however I do not believe there is any advantage (when discussing staking) to having your coins split up in these variances.


Title: Re: How does Staking work?
Post by: Enzyme on February 12, 2015, 04:26:15 AM
Hey Guys,

I tried 'splitting' my coins by sending a transaction to myself consisting of half my coin count.
I think I may have misunderstood how 'splitting' works.

Anyway, how do you gain the highest weight with the lowest amount of coins?

Thanks :)

I'm not sure what you are trying to do.

Why did you send half of your bitcoins to yourself?

Why are you trying to "split" your bitcoins?

What do you mean when you say "highest weight"?  Bitcoins are electronic, they don't weigh anything.
Sorry, maybe I put this in the wrong section. I was asking about POS coins.
I already know Bitcoin uses POW and how that works.