***Watching that Joe Rogan-video!
BlackCoin should be the first coin where you can choose your own, unique wallet-address.
Instead of 932854hnasfd8ayfhdajlfda it could be "SparkIt.BlackCoin".
BlackCoin should also be the first coin that makes it simple, simple transactions. The person shouldn't have to think "How does it work?", the person shouldn't have to think at all.
Simple makes success. More simple interface, more" click-and-pay instead of click-find the address-copypaste-send-find block explorer-how many confirms atm?-finally done- yay"
Built-in block explorer in wallet, right-click transaction then "Open Block Explorer". A more friendly interface where people who aren't tech-experts could use.
BlackCoin-news tab @wallet.
Being able to register the wallet to your e-mail, making it unique. Being able to send payments to e-mail address or wallet-domain instead of wallet address.
This should be possible, right?***-- Also posted at reddit. http://redd.it/23t3yf This is already fully implemented in another coin, one with equally fast transactions as bc. You can name your account to anything you want and give that out instead of a long string of numbers and letters. Everyone in this thread needs to spend more time thinking about and implementing features, understanding the core of bc, rather than talking about the charts, p&d distractions etc to avoid being left behind. |
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Join today!
the UI looks good
lol, it is Nxts  |
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I'm going to head over to novacoin or peercoin to try and find more technical info.
Can anyone give me the main changes between nova/peer and bc so I can self edit what I read? (Apart from 6 day pow distribution) pm preferred.
Thanks
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I meant links explaining how it workd |
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From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).
Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake
Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.
Thats allright now i think  But no-one knows where the fees go. Into the devs pockets? Miners There are none. The stakers? |
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From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).
Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake
Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.
Thats allright now i think But no-one knows where the fees go. Into the devs pockets? The One who got the block.. Like in pow Sounds reasonably. But you don't sound sure  Do you have links? And you agree you get 0% if you don't stake? |
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Sorry, I am misunderstanding you or you me.
1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.
When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.
It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened. As for 'where do the transfer fees go', good question, I forgot to look into that ... I think I have it. On the last page you said: "No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet. The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%). So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right? Can anybody clearify this? I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking. If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining?? So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block., This should be cleared up asap, it is the basis of rewarding people and not enough people understand it. I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model. So you think you get the 1% for running your client 24/7/365 (compounding up to 1.005% over the year) and the fees in a block? Do you have any links for the second part? No, your interest is compounded because you keep your wallet open permanently. You gain 1% regardless. The transaction fees, I would expect, are also paid to those who are staking ( there are no miners ), so this, plus the compounding of interest, is your incentive. Haven't found proof of this yet, but am in the middle of work, haven't looked far ;] Cant compound After each block.. We would habe already doubled the total supply then. From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)). Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year. Thats allright now i think But no-one knows where the fees go. Into the devs pockets? |
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Sorry, I am misunderstanding you or you me.
1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.
When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.
It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened. As for 'where do the transfer fees go', good question, I forgot to look into that ... I think I have it. On the last page you said: "No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet. The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%). So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right? Can anybody clearify this? I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking. If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining?? So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block., This should be cleared up asap, it is the basis of rewarding people and not enough people understand it. I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model. So you think you get the 1% for running your client 24/7/365 (compounding up to 1.005% over the year) and the fees in a block? Do you have any links for the second part? No, your interest is compounded because you keep your wallet open permanently. You gain 1% regardless. The transaction fees, I would expect, are also paid to those who are staking ( there are no miners ), so this, plus the compounding of interest, is your incentive. Haven't found proof of this yet, but am in the middle of work, haven't looked far ;] Cant compound After each block.. We would habe already doubled the total supply then. From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)). Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year. |
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Sorry, I am misunderstanding you or you me.
1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.
When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.
It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened. As for 'where do the transfer fees go', good question, I forgot to look into that ... I think I have it. On the last page you said: "No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet. The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%). So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right? Can anybody clearify this? I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking. If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining?? So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block., This should be cleared up asap, it is the basis of rewarding people and not enough people understand it. I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model. So you think you get the 1% for running your client 24/7/365 (compounding up to 1.005% over the year) and the fees in a block? Do you have any links for the second part? No, your interest is compounded because you keep your wallet open permanently. You gain 1% regardless.The transaction fees, I would expect, are also paid to those who are staking ( there are no miners ), so this, plus the compounding of interest, is your incentive. Haven't found proof of this yet, but am in the middle of work, haven't looked far ;] Regardless of what? |
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Sorry, I am misunderstanding you or you me.
1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.
When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.
It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened. As for 'where do the transfer fees go', good question, I forgot to look into that ... I think I have it. On the last page you said: "No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet. The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%). So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right? Can anybody clearify this? I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking. If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining?? So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block., This should be cleared up asap, it is the basis of rewarding people and not enough people understand it. I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model. So you think you get the 1% for running your client 24/7/365 (compounding up to 1.005% over the year) and the fees in a block? Do you have any links for the second part? |
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Sorry, I am misunderstanding you or you me.
1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.
When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.
It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened. As for 'where do the transfer fees go', good question, I forgot to look into that ... I think I have it. On the last page you said: "No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet. The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%). So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right? |
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Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.
One year later will this wallet get 1% reward? Or are there any constraints?
Thanks
Anyone? You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking. The rewards come in "every now and then", you will receive coincount / (365*100) average per day. So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day? And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year? Thanks No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet. The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%. Ah, thats sounds better but what you mean by "compound interest"? Can you give an example? If you keep your wallet open permanently, you earn a fraction of your annual 1% each day ( 1/365th to be precise ). So for every day that passes, you are earning 1/365th of your original wallet's value plus interest already earned. If you start with 100,000 BC today, tomorrow you will earn : ( 100,000 * .01 ) / 365 = 2.7BC So tomorrow your balance will be 100,002.7 You will then earn interest on that balance, which is : ( 100,002.7 * .01 ) / 365 = 2.74BC So your balance will increase to : 100,005.44 And so on So you get 1% from opening up you wallet (inflation element) and an additional 1.005% from staking constantly for a year (((.01/365)+1)^365) -1 = 1.0050029% (N.B. the staking period appears to be 8 hours so 365*3 = 1095 should probably be used instead of 365 to get a true rate, it will be the same in the end though) Where does the BC for the staking come from? Fees? Yes ~1,1% is accurate i think. No Fees goes to miners, this 1,1% (what is very small and Imo still more than 1,1% of coins will be lost (buy forgeting passwords, hardware destroted, sb buy 10 and forget about it etc) so this coin is deflational I think . And this 1,1% is created and added to whole ~75M Sorry, I am misunderstanding you or you me. 1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary. When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm. |
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Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.
One year later will this wallet get 1% reward? Or are there any constraints?
Thanks
Anyone? You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking. The rewards come in "every now and then", you will receive coincount / (365*100) average per day. So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day? And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year? Thanks No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet. The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%. Ah, thats sounds better but what you mean by "compound interest"? Can you give an example? If you keep your wallet open permanently, you earn a fraction of your annual 1% each day ( 1/365th to be precise ). So for every day that passes, you are earning 1/365th of your original wallet's value plus interest already earned. If you start with 100,000 BC today, tomorrow you will earn : ( 100,000 * .01 ) / 365 = 2.7BC So tomorrow your balance will be 100,002.7 You will then earn interest on that balance, which is : ( 100,002.7 * .01 ) / 365 = 2.74BC So your balance will increase to : 100,005.44 And so on So you get 1% from opening up you wallet (inflation element) and an additional 1.005% from staking constantly for a year (((.01/365)+1)^365) -1 = 1.0050029% (N.B. the staking period appears to be 8 hours so 365*3 = 1095 should probably be used instead of 365 to get a true rate, it will be the same in the end though) Where does the BC for the staking come from? Fees? |
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Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.
One year later will this wallet get 1% reward? Or are there any constraints?
Thanks
Anyone? You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking. The rewards come in "every now and then", you will receive coincount / (365*100) average per day. So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day? And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year? Thanks No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet. The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%. Ah, thank you. At what rate is the interest compounded (hourly/daily)? |
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Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.
One year later will this wallet get 1% reward? Or are there any constraints?
Thanks
Anyone? You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking. The rewards come in "every now and then", you will receive coincount / (365*100) average per day. So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day? And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year? Thanks |
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... on that note any editors who want to tweak this a bit i can send the premiere pro files and project file and you can have at it. I can even throw down on some stock footage if people know what they want. The sound file is in audacity... I think I saved the audacity file with the layers (fingers crossed). Anyways... my software wont write itself. Back to work Zimbeck!
Thanks for going to the trouble. As an idea it could be debated as to whether an advert would need or want to be that aggressive in its suggestive nature, or in fact as a promotional video it might be completely right. In some regards perhaps its a question as to whether its a hard line promotional video being made or an infomercial. I wouldn't have minded a play with it, but I'm playing with other ideas. Which I'd like to see get finished then *ignored/*slammed (I guess) I think people could be a little more considerate about how they are criticising people's efforts as it will also put people off. Otherwise we will have to club together again and just buy some usb sitcks put a wallet with 10bc on it and have them given away at the oscars, or other events. More likely technology conferences in goody bags. But that all costs us. On top of the Doge SF conference that we are sponsoring, which is a brilliant idea. Btw, there was a group buy for an asic miner. I don't know if you guys know, you should try the irc. Africanos I think was doing that.. Dont worry mate I have something that can make BC pass Bitcoin. My first version of the program is for Bitcoin but the second will be for Black. I will need c++ devs... totally willing to pay unless rat4 wants it. Its going to make Bitcoin world changing too. So excited about my secret project. i only talk about it on this forum. Im about 1-2 weeks away from finishing. Of course there is also compiling *ugh*... the unofficial release so people can review the code and have fun with it and other things. Well I hope it works out. And I look forward to seeing it done. I guess at least the guys here are warming you up for the reality of any criticism you may also receive. Hahaha on the hacked up draft of a commercial YES. On my software... you guys are gonna flip. Every coin is gonna flip. IT will allow for instant cross platform decentralized exchange of cash coins etc. Trusting of untrustworthy parties, unhackable accounts, ability for chinese to fund with cash, paypal without chargebacks. I am not going into much detail because I want to make it a surprise. But yeah its the thing crypto is waiting for basically. I am aware of two projects enabling atomic cross chain transactions, one is being tested for release today (proof of concept was in march) and two for trustless escrows. I am keen to see what you have come up with Do you have a provisional date for beta launch? |
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Wow! One of the top pools and you get 10% bonus too Can't go wrong, if only I had a mining rig |
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STOP TALKING ABOUT THE PRICE, PUMPS & DUMPS, WHALES, SELLING, BUYING, WALLS, etc...!!!!
If you all would convert this energy into something usefull for Blackcoin maybe the price wouldn't be as it is now.
+1 This thread adds very little to the development and public understanding of BC. |
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Crypto is funny sometimes.
Few weeks/months ago NXT devs predicted that there will be big event connected with POS.
They called it "collored coins" they wanted develop it.
But in Febuary BC come out and kicks crypto hard.
After BC many "colored" coins come out that wasn't something that they wanted to invent
from beginning but is hilarious how it all is connected.
How some predictions can have opposite effect.
You don't understand what the term colored coins means in crypto. It is about creating assets (I.e. coloring them to become something else like stocks or deeds that are then traded). This is known as crypto 2.0, decentralised exchanges trading colored coins being one of the most common features cited. Nxt has a working Asset Exchange that is undergoing testing. You can even try it if you had the inclination. It is these things that add long term value. |
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It certainly does not do 0.009 BTC/Mh/day atm.
As a matter of fact it doesn't even do half that. Yesterday it was below 0.004 actually.
Soepkip, is there a good explanation why Blackcoinpool is lagging in daily profitability compared to Clevermining, Hashcows, Waffle etc at the moment?
http://www.dailyblackcoin.com/multipool-payouts-21-4/They say, if they hadn't mined a fork, they would have got 0.005 btc/mh/day at best. This still wouldn't put the blackpool in the top 5 pools for the same period. Any other reasons you know of? |
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