I finally installed the QT Wallet and its fully synced and I've moved my coins from Bittrex to the wallet.
Can anyone explain to me how to begin staking? I've already unlocked my wallet and checked the "For Staking Only" section. However on the Dashboard I see the following:
Spendable: 12000
Stake: 0
Unconfirmed: 0
Can someone tell me what the Stake: 0 means? Am I not staking anything right now?
If your wallet is unlocked it is staking. The point of staking is to verify transactions on the network effectively distributing and protecting it. So the whole thing works by probability. If you keep your wallet connected you will net 1-5% a year depending on how many people are connected. Usually most coins never have more than 30% of the supply staking so you can expect up to 3%.
Your rewards will come in randomly as long as it is unlocked for staking.
You can see here exactly how many people are staking and who is winning blocks...
https://chainz.cryptoid.info/bay/#!extractionAlso for those people who have not updated to the latest software since November 1st please do. Since I've noticed about 55% of the users have updated. You must update before the 30th of November.
Will there be a coin swap?
No coin swap needed when there is such a competent dev as David. Just make sure you have the wallet that was released Nov 1st. (Qt wallet or client. Both are fine.) The wallet will handle the the fork automatically. You wont even notice that it happens.
Hi. November 30th is good news for BitBay supporters. Hopefully, you can help me. I installed the software for BitBay Client and BitBay Lite Wallet. The installation went well. I did not encounter difficulty. When I tried to backup the wallet.dat, I could not locate it according to the instructions from the BitBay website. Did my physical wallet.dat become invisible? Can my wallet still be eligible for staking and the fork coming? Thanks for the assistance.
You don't need both wallets. Personally I recommend you use the client. For the client it is the keys (key1.private and key2.private) you need to back up.
For the Qt wallet, the key is in wallet dat, and on windows you find it in users/"your user"/appdata/roaming/bitbay (appdata may be a hidden folder on your computer, so you might have to un-hide it)
If you are on mac or linux, please say so, and I'll find someone else to answer regarding wallet.dat location.
Thanks. I installed both wallets. I did not know which software is running but I was prompted to backup the 2keys (key1.private and key2.private). When I back up the wallet from the top menu, I was asked to backup the 2keys but not the wallet. The reason why I started looking for the wallet.dat. So, even though I installed both wallets, the BitBay Client supersedes that of the BitBay Lite Wallet since I didn't see the wallet.dat?
You only need the client, and for the client the two keys is what you need to back up. You can ignore wallet dat for the client.
Agree that. Thanks for recommendation
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