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Title: Is becoming a delegate the only way to stake BTS? And a few other questions... Post by: Lorenzo on April 05, 2015, 11:42:26 AM I know BitShares is a proof-of-stake coin but since it uses a variant of PoS called DPoS, does that mean that only delegates are able to receive staking rewards? I'm only asking because I have 1,000 BTS on Poloniex and I've already downloaded the client so I'm ready to withdraw my coins and was wondering if I could/should leave the wallet staking overnight along with my other PoS coins.
Secondly, I know that BitAssets such as BitUSD pay interest. Does the wallet need to be unlocked and kept running for this to happen? And finally, where is the main [ANN] thread for this coin? I did a search on Google for 'bitshares bitcointalk' but I can't seem to find it anywhere. ??? Title: Re: Is becoming a delegate the only way to stake BTS? And a few other questions... Post by: testz on April 05, 2015, 01:23:56 PM I know BitShares is a proof-of-stake coin but since it uses a variant of PoS called DPoS, does that mean that only delegates are able to receive staking rewards? I'm only asking because I have 1,000 BTS on Poloniex and I've already downloaded the client so I'm ready to withdraw my coins and was wondering if I could/should leave the wallet staking overnight along with my other PoS coins. Yes, only delegate can "stake", but "staking" of BitShares much different from other POS coins. More information about this you can get in BitShares forum: https://bitsharestalk.org/Secondly, I know that BitAssets such as BitUSD pay interest. Does the wallet need to be unlocked and kept running for this to happen? No, you don't need to run the wallet at all, if you have BitUSD (or another BitAssets) you will get yeld when next time you move BitAsset, just to get your yeld you can send BitAsset to your self every week/month, current yeld (APR) of BitAsset you can see here: http://bitsharesblocks.com/assets/marketAnd finally, where is the main [ANN] thread for this coin? I did a search on Google for 'bitshares bitcointalk' but I can't seem to find it anywhere. ??? BitShares doesn't have dedicated ANN thread at bitcointalk.org, but BitShares history was started from ProtoShares which has ANN thread:https://bitcointalk.org/index.php?topic=325261.0 Whole history you can read here: The Origin of BitShares https://bitsharestalk.org/index.php?topic=14019.0 Title: Re: Is becoming a delegate the only way to stake BTS? And a few other questions... Post by: TinEye on April 05, 2015, 01:46:41 PM Its not 'staking' so much as 'mining'. The difference being that it is fixed in advance who is going to mine and collect the block reward, and the resources required is negligible compared to actual mining.
Title: Re: Is becoming a delegate the only way to stake BTS? And a few other questions... Post by: Lorenzo on April 08, 2015, 01:03:37 PM I know BitShares is a proof-of-stake coin but since it uses a variant of PoS called DPoS, does that mean that only delegates are able to receive staking rewards? I'm only asking because I have 1,000 BTS on Poloniex and I've already downloaded the client so I'm ready to withdraw my coins and was wondering if I could/should leave the wallet staking overnight along with my other PoS coins. Yes, only delegate can "stake", but "staking" of BitShares much different from other POS coins. More information about this you can get in BitShares forum: https://bitsharestalk.org/Secondly, I know that BitAssets such as BitUSD pay interest. Does the wallet need to be unlocked and kept running for this to happen? No, you don't need to run the wallet at all, if you have BitUSD (or another BitAssets) you will get yeld when next time you move BitAsset, just to get your yeld you can send BitAsset to your self every week/month, current yeld (APR) of BitAsset you can see here: http://bitsharesblocks.com/assets/marketAnd finally, where is the main [ANN] thread for this coin? I did a search on Google for 'bitshares bitcointalk' but I can't seem to find it anywhere. ??? BitShares doesn't have dedicated ANN thread at bitcointalk.org, but BitShares history was started from ProtoShares which has ANN thread:https://bitcointalk.org/index.php?topic=325261.0 Whole history you can read here: The Origin of BitShares https://bitsharestalk.org/index.php?topic=14019.0 Ah, OK thanks for the answers. So is the yield shown on that page referring to annual yield? So 2% for BitUSD for example means 2% per year? Strange to see a major coin like BTS not have an official thread though. I've always been interested in the coin but I never really bought any coins until quite recently since the coin's design and distribution method was so complex compared to other coins. I did some more reading about it and how it works and I think I understand it better now. Its not 'staking' so much as 'mining'. The difference being that it is fixed in advance who is going to mine and collect the block reward, and the resources required is negligible compared to actual mining. That sounds similar to NXT's transparent forging. Title: Re: Is becoming a delegate the only way to stake BTS? And a few other questions... Post by: testz on April 08, 2015, 06:16:56 PM Ah, OK thanks for the answers. So is the yield shown on that page referring to annual yield? So 2% for BitUSD for example means 2% per year? Yes, it's 2% per year.Strange to see a major coin like BTS not have an official thread though. I've always been interested in the coin but I never really bought any coins until quite recently since the coin's design and distribution method was so complex compared to other coins. I did some more reading about it and how it works and I think I understand it better now. Lack of dedicated BitShares ANN thread can be explained by fact that from the first days of ProtoShares we have own forum https://bitsharestalk.org and instead spamming BTT peoples discus everything at https://bitsharestalk.orgIts not 'staking' so much as 'mining'. The difference being that it is fixed in advance who is going to mine and collect the block reward, and the resources required is negligible compared to actual mining. That sounds similar to NXT's transparent forging. Yes and no, on BTT you can find many funny discussion threads about this :), like https://bitcointalk.org/index.php?topic=916696.0 |