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So I have about 35 coins which are now about 32 days old. I have a few questions about coinstake minting.
Do my coins have 35*32 coin days or do 35*2 coin days? In other words, does coin age only start building up after the 30 day waiting period?
My wallet is not encrypted, when I run the client, do I get any indication that the client is minting? I would at least expect to see some CPU activity for the process, which I don't.
Once I do find a stake block, and after I wait the 520 block stake period, do I have to wait another 30 days before I can start trying for another block?
You have 35*2 coin days, and yes, you'll have to wait for another 30 days (at least) after mining a stake block. The probability to even find one within a year with such a small amount of funds is fairly small. This seems odd as it would encourage people to wait the maximal amount before trying to mine a stake block, since every time you do, you lose 30 days of interest. So under ideal conditions, the interest is not 1%, it is about 0.75% interest, and only if you can reliably mine your stake near the end of the 90 day cap period. Any idea why my client does not appear to be stake mining? (CPU usage is zero) Wait, there's a misconception here. It's 35*2 coin days for the purpose of difficulty, but 35*32 for the amount of interest calculation. If you don't have many unspent txouts older than 30 days, the CPU usage will be fairly low. The whole point of proof of stake is that it reduces energy consumption by not being processing power bound, but rather time and money bound. Ah, thank you, that makes more sense. Does that mean that the client intentionally throttles the stake mining thread? Otherwise I would expect to see at least one thread at 100% if you have any coins that are 30 days or older that haven't been staked yet. Is there a command in ppcoind that can give me confirmation that it is trying to stake mine? |
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So I have about 35 coins which are now about 32 days old. I have a few questions about coinstake minting.
Do my coins have 35*32 coin days or do 35*2 coin days? In other words, does coin age only start building up after the 30 day waiting period?
My wallet is not encrypted, when I run the client, do I get any indication that the client is minting? I would at least expect to see some CPU activity for the process, which I don't.
Once I do find a stake block, and after I wait the 520 block stake period, do I have to wait another 30 days before I can start trying for another block?
You have 35*2 coin days, and yes, you'll have to wait for another 30 days (at least) after mining a stake block. The probability to even find one within a year with such a small amount of funds is fairly small. This seems odd as it would encourage people to wait the maximal amount before trying to mine a stake block, since every time you do, you lose 30 days of interest. So under ideal conditions, the interest is not 1%, it is about 0.75% interest, and only if you can reliably mine your stake near the end of the 90 day cap period. Any idea why my client does not appear to be stake mining? (CPU usage is zero) |
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So I have about 35 coins which are now about 32 days old. I have a few questions about coinstake minting.
Do my coins have 35*32 coin days or do 35*2 coin days? In other words, does coin age only start building up after the 30 day waiting period?
My wallet is not encrypted, when I run the client, do I get any indication that the client is minting? I would at least expect to see some CPU activity for the process, which I don't.
Once I do find a stake block, and after I wait the 520 block stake period, do I have to wait another 30 days before I can start trying for another block?
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Related question:
What about proof of stake coins specifically?
These are the ones I'm aware of, and what I know of them.
PPCoin - First and the only SHA based
NovaCoin - highest effective interest rate
BitBar - Scarcity
BitGem - Scarcity
Bottlecaps - the only fast block rate
These coins are no doubt very good and innovative but If we see the mining, and services prospect of them the mining is not profitable and people can't mine enough coins to keep for long term. And ofcourse we need services for them where they can be used. So these are the places where they are lacking I know PPC and Nova coin are good at service but not in mining. Bitbar and bitgems are meant to store value but don't know what is the future of BOT. I think for newbie miners it is best that they mine PXC, WDC, FTC and DGC the developers are good and have some future plans for making there coins useful in different services. And this is the first time it has ever happened that three alt communities have joined hands together to help each other. Lets see what the out come is. What do you mean they are not "good at mining"? |
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Related question:
What about proof of stake coins specifically?
These are the ones I'm aware of, and what I know of them.
PPCoin - First and the only SHA based
NovaCoin - highest effective interest rate
BitBar - Scarcity
BitGem - Scarcity
Bottlecaps - the only fast block rate
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A woman heard a milk bath was good for your skin.
Next time the milk man stopped by she was sure to ask if he could bring enough next time for a bath.
"Would you prefer pasteurized?" He asked.
"No, just up to my knees is fine".
GZNP9QKMuGiDm6eoVrc1PGe3NLCevp9HFC
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I suggest *not* putting it on an exchange yet. With such a small amount of mining power, it is way too easy to 51% attack it. The best way to perform this attack is at an exchange.
I suggest adding proof of stake first to add some amount of protection.
GZNP9QKMuGiDm6eoVrc1PGe3NLCevp9HFC
Edit: Another option would be to add in fee's back in to encourage some mining. But I don't know if that goes against your idea on how the coin should work.
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Is it intended that there are no fees at all? When I try sending, it doesn't charge me. And there isn't a field to specify what the fee is.
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Gcb751ucjvwCFMMAbFV9Dq3pSPrN75NPgB
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EtEVnBY4HpNnd5YK176Edyhf3gXxdYVzER
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Wow, someone pointed some heavy hashing power at it. It's doing maybe 5-10 blocks a second now.
Before that I was getting maybe 1/2 to 1/3 of all the blocks with my wimpy 40kHps
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GZNP9QKMuGiDm6eoVrc1PGe3NLCevp9HFC
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Here's my address: GZNP9QKMuGiDm6eoVrc1PGe3NLCevp9HFC
Thanks!
Did you get POS included or did you go with your orignal idea?
Edit: I'll CPU mine it a bit and see how that goes.
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Reserve me a spot on the giveaway thread, I always seem to miss those.
You might consider taking out proof of work entirely if you can't mine coins anyway. Have it be POS only. You'd probably have to take out the 30 day waiting period before you can mint POS blocks. Maybe make a day or an hour waiting period.
I disagree about making it 0%. If people don't have a incentive to mint, they won't do it.
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Anyone else unable to cash out of the binarycoins pool? I only have 0.026 gem there, but they are confirmed as "paid" and show in my balance. I mainly wanted to cash them out just to help prove to myself that they are legit. I get the error "You have no money in your account!"
I'd contact them directly, but there is no contact info.
can you try to cash out for one more time? i guess it's fixed, but i have no such small balance to check if it's working right That worked and gems were received. Thank you! |
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I agree, proof of stake would make it interesting.
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What could possibly go wrong?
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I may be too late for this but...
gVrbUxYRaF3sYdhUEvqQ4Grrix9aihUNM9
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Anyone else unable to cash out of the binarycoins pool? I only have 0.026 gem there, but they are confirmed as "paid" and show in my balance. I mainly wanted to cash them out just to help prove to myself that they are legit. I get the error "You have no money in your account!"
I'd contact them directly, but there is no contact info.
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Difficulty 0? Does this mean every hash calculated is a winner?
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