Bitcoin Forum
April 26, 2024, 10:13:09 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 [2] 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 »
21  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 14, 2014, 01:00:27 AM
WTS 500 for 1.5 BTC private message

that's double the current price. You ask for 0.003 each while the price is 0.0015


No, the current best price is not a buy offer, it's the sell offer, which is .0025 - also, if you wanted to buy 500, there's not enough volume at that price. You'd be paying up to .005 for some of them. So actually, his price is fair considering the current market books. Fair deal doesn't mean good deal, though. Wink

I disagree for it is he who wants to SELL. Try that on Bittrex and see what you end up getting for 500 coins. It is RIDICULOUSLY high.

Depends if he is selling the seeds by transferring them or the Wallet.dat.  If he sells his Wallet.dat no need to wait 24hours to stake so you essentially get an extra day of staking.
22  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 13, 2014, 08:33:14 AM


I assure you, I will be hoarding those coins. Also, the likeliness of me getting that last stake are slim to none. I have been fairly lucky so far, but I would need some serious luck for the blocks to slow down that much. Wink


Thats good to hear, although Im not sure your luck had much to do with it, this is the epitome of "the rich get richer". Its just harder for the little guys to stake, and the first day having anything under 1 seed stake at 1% just compounded the shit out of it. I dont know how much people are going to want to buy a coin where one guy has 30% of the coins. Its better you are known.... And I hope I am wrong. I started out the growth period with only a few seed, but I have been about as "lucky" as I could hope for.

About that 8th day of stake, if you arent about as greedy as they come you will lock your wallet after 7.... An eight day would give you WAY to many seed if it ended up getting squeezed in. You stake right at the beginning of each "day", so if only a couple get the eighth in. you will be one of them, if that happens Ill fud right there with everyone else regardless of my losses. . .

edit: its not really fair to ask that of you. Maybe before the "eigth" day starts the dev could break it to 1% again?  Right at the beginning of the day those that built up their wallets before growth are the ones staking first. so imo NO ONE should get an eighth stake...

I agree that people will not want to invest in a coin that has one person controlling the majority. However, because of the nature of the coin, if it were to happen (as I am 99% it won't, because I skipped half of a day staking on the v4 -v5 switch), I would definitely let that stake go through, just to see how much was possible to earn. But you have my word, that if that stake comes though, I will be donating a mass portion to Cryptzo for bounties etc... You may not know me, and therefore you have no reason to trust me. However, I do want you to know, that I am all about the advancements and technology of crypto, and not about the gains. My wallet is almost like having the #1 wallet belong to the community, you will learn this in the months to come Wink

Knowing how much you gave both in time and in Pink coin to better the coin; seed is looking much better with the knowledge you are the #1 wallet!
23  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 13, 2014, 07:47:59 AM
I just hope the guy at Number 1 hoards his coins.... I have a feeling he is going to end up with a HUGE % of the coins.... Everyone keeps saying people wont get all 7 days of staking.... He is likely going to get 8. . .

edit: Actually, that last update MAY have saved us since we lost some time... but it may end up being close.

If I were the dev I would maybe try to contact him (you said the messaging works) and offer to buy some coins after the growth period. It would spread them out a little, and the dev would have something to loose also. . .



I assure you, I will be hoarding those coins. Also, the likeliness of me getting that last stake are slim to none. I have been fairly lucky so far, but I would need some serious luck for the blocks to slow down that much. Wink

Here for the long, long term. I am an investor, not a day trader.

Anyone that knows me from Pinkcoin, also knows that I'm an analyst and strategist, so this has been by far the most fun I've ever had in crypto. Cheesy

Edit: I am heading to bed, and have one last day with family for Thanksgiving. I will than be prepared for the Barbie trolls. In preparation, I am one of few Pinkcoin devs that invested in the ICO, and bought these coins for just a little over 1BTC at 0.1BTC. I am also the only Pinkcoin member that played this strategy. In fact, I kept it quiet (a secret) from them as well. That was part of the game to me.

Awesome mate, I was a little nervous as to who owned them but at least I know they won't be dumped! 
24  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 13, 2014, 01:59:43 AM
@end of POW
coin supply = 1000 SEED
price: 1 SEED = 0.1 BTC

@growth period
1 seed can grow to 1000 SEED so a factor of 1000x
1000 SEED coin supply * 1000 = 1,000,000 SEED
my expected price would then be 0.1 BTC / 1000 = 0.0001 btc with coin supply of 1,000,000 after growth period

current block = 13032
end of growth block = 20100
current money supply =  12,306 SEED
block time = 1 minute = 1440 blocks per day

20100 - 13032 = 7,068 blocks left for growth period
7,068 /  1440 = ~4.9 days left for growth period

12,306 * 2.69 = 33,103.14 SEED after 1 more day
33,103.14 * 2.69 = 89,047.44 after 2 days
89,047.44 * 2.69 = 239,537.63 after 3 days
239,537.63 * 2.69 = 644,356.22 after 4 days
644,356.22 * 2.69 = 1,733,318.25 after 5 days

but you dont stake immediately after 24 hrs, you need some more time to gain weight
so im guessing it would be lower than 1.7 million at the end of growth period

those numbers are off, it's 12,306 * 2.69 + 12,306

you get back 269% plus your original coin stake amount.

so it's more like
12306 * 3.69 = 45,409
45,409 * 3.69 = 167,560
167,560 * 3.69= 618,295
618,295 *3.69 = 2,281,510
2,281,510* 3.69 = 8,418,772 total possible supply.

Which is pretty close to the original estimates, but will undoubtedly be less due to moved and sold coins on bittrex.

Your stats for the growth period is off though 1 Seed if not staked the first week and opened on the first day could eventually become around 35-40,000 Seed
For everybody else that staked continuously before 1 seed will end up being worth 9350 
Also Total supply because of staking was something like 850 seed instead of 1000
25  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 12, 2014, 12:11:16 PM
Is there a single post in this ever growing thread that explains exacty what Your Weight and Network are and how they affect staking?

thanks


wow: Seed headed for shitcoin territory fast from a High of .35 now at .0117 - wow - 1/30 of what it was worth a few days ago - It certainly appears as though when I release my own coin later this year I will NOT adopt Seedcoins Staking Algorithms : LOL or maybe better yet - actually do some testing before releasing the coin - that's a novel idea huh - testing?

a few days ago there was 90% less coins.  A few days ago 1 seed could turn into 25000 now It can only turn into 687.  Do you understand the concept behind seed?
26  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 12, 2014, 06:33:47 AM

Ok Wallet is staking again, after 3 reinstalls, but this makes me cry since i was on the ball with the wallet changes and the right block to be on, i have pages showing me all the coins i should have got but didnt, this is about 1/3 of the page in the pic, total piss off seeing what i should have but dont


Its because someone else beat you to the blocks as they had more weight I believe. You will get the seed, just give it some time. Every time you fail the next chance your chances of success is greater.

So somehow i was beaten on every one a list of about 30+ transaction? i would say if it was that simple i would have got 1 in 35? but not one the whole time ? but the last 30+ transactions are all the same no coins at all, just someone beat me to all of them? a weight of 10 seeds all around 1 - 1.5 would be weight enough to win one?

Dont get me wrong thanks for the post and help i am just trying to understand why i have F*%* all 2 days in

Beef

The only other thing I can think of that may have caused that is: are you sure your timezone and date is right?  (have you been traveling or not auto updated for day light savings) as that would put you behind so while you think you are synced up you could be behind hence why every block is rejected.
27  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 12, 2014, 06:20:54 AM
So how many have this problem? and has anyone sorted out why the wallet will not stake after the last update, how are some working fine and other not?  I have been watching and doing all i could the whole time, so to me its seems something is very off and updates are causing big problems, but the problem seems to be taking coins from some and over filling up others.

My coins are over 3 days old and have already staked up until today's BS, the wallet will not stake days old coin and all incoming coins are conflicted, meaning no money at all for a day or more.

The problem isnt the coins are mature as they were fine until i open up the wallet after the update timer couint down, before that i had half the coins staking? So they cant be 3 days old and not mature?

Looking down the transaction i would say i have lost around 30+ coins today and whats more annoying is the wallet will not stake, i have delete reinstalled and the works, its getting annoying now.

So 2 day old coins x 10 coins should be a lot more than 52 coins all up now, ggrrrrrrrr
The biggest GGRRR  is now not being about to stake mean yet again i have made nothing and lost a shit load of time and money.

Beef

What are your stake sizes, anything under 1 takes may take longer then 24 hours, Also you do realize that once it stakes it takes another 24 hours to remature.  So if you staked 14 hours ago even though the updated timer fix is up doesn't necessarily mean your 24 hours is up. My wallets been working fine although I have stayed on top of all updates.  Have you made sure your wallet is unlocked (I know basic but could explain why they haven't staked)  and your on the right chain v 1.0.5.0?  (Just trying to help figure out what could be wrong!)

Cheers for trying to help, coins brought over 2 days at different times from 0.02 but most were 1 coin at a time, wallet unlocked, been on top of all the wallet changes and resets, and doing another reinstall, think i might go out and not worry about it and hope it just works again.
Thanks again for trying to help.
Beef

No worries, Not really sure as mine staked alright (Although I am still waiting on a few to stake so hopefully time fixes the problem!)
28  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 12, 2014, 06:09:44 AM
So how many have this problem? and has anyone sorted out why the wallet will not stake after the last update, how are some working fine and other not?  I have been watching and doing all i could the whole time, so to me its seems something is very off and updates are causing big problems, but the problem seems to be taking coins from some and over filling up others.

My coins are over 3 days old and have already staked up until today's BS, the wallet will not stake days old coin and all incoming coins are conflicted, meaning no money at all for a day or more.

The problem isnt the coins are mature as they were fine until i open up the wallet after the update timer couint down, before that i had half the coins staking? So they cant be 3 days old and not mature?

Looking down the transaction i would say i have lost around 30+ coins today and whats more annoying is the wallet will not stake, i have delete reinstalled and the works, its getting annoying now.

So 2 day old coins x 10 coins should be a lot more than 52 coins all up now, ggrrrrrrrr
The biggest GGRRR  is now not being about to stake mean yet again i have made nothing and lost a shit load of time and money.

Beef

What are your stake sizes, anything under 1 takes may take longer then 24 hours, Also you do realize that once it stakes it takes another 24 hours to remature.  So if you staked 14 hours ago even though the updated timer fix is up doesn't necessarily mean your 24 hours is up. My wallets been working fine although I have stayed on top of all updates.  Have you made sure your wallet is unlocked (I know basic but could explain why they haven't staked)  and your on the right chain v 1.0.5.0?  (Just trying to help figure out what could be wrong!)
29  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 12, 2014, 06:03:16 AM
brought 10 seeds have around 60 now but that's been from the start all staked aged, did the wallets up and down in time etc, but after it telling me i cant stake as my coins are not mature i re installed and now i have a shit load of not accepted mined coins, like pages of them. :[  
Now the wallet will not stake even that its showing  staked coins in the summary?
Cant say i am happy with that, some other guy has what 900+ and he had 10 coins too? So WTF is going on?

Beef

This is the problem that I'm having, just less coins involved in my scenario.

Your coins only stake every 24 hours so its 24 hours from the last time it staked.  They guy with 900 got them because of a bug in the code that on the first day because he didn't stake at 1% he got roughly 6 days x 3.69 x 10 coins on the first day to start. That's why he has way more (there is around 5 people that may have similar opportunities, the rest of us staked and lost that advantage not realizing)

Hummm.... how peculiar... About 5 people, you say?

You know what, I am going to go out and say it out loud so everyone can consider it: I believe that half a dozen guys are the entire dev team of Pink coin and the dev, the ineffable crypto.

I may very well be wrong, but I'm willing to bet a few donuts on that hypothesis... anything to add sonny boy?

I don't believe it as I'm pretty sure Fayoling was staking along with everybody else.  Just 5 people (Based of the times on the richlist before we started) who understood POS and the flaw.  
30  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 12, 2014, 05:51:26 AM
brought 10 seeds have around 60 now but that's been from the start all staked aged, did the wallets up and down in time etc, but after it telling me i cant stake as my coins are not mature i re installed and now i have a shit load of not accepted mined coins, like pages of them. :[  
Now the wallet will not stake even that its showing  staked coins in the summary?
Cant say i am happy with that, some other guy has what 900+ and he had 10 coins too? So WTF is going on?

Beef

This is the problem that I'm having, just less coins involved in my scenario.

Your coins only stake every 24 hours so its 24 hours from the last time it staked.  They guy with 900 got them because of a bug in the code that on the first day because he didn't stake at 1% he got roughly 6 days x 3.69 x 10 coins on the first day to start. That's why he has way more (there is around 5 people that may have similar opportunities, the rest of us staked and lost that advantage not realizing)
31  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | 10/11 MANDATORY UPDATE on: October 11, 2014, 09:59:09 PM
So will blocks above 1 stake properly now or do we have to wait for the count down?
32  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | 10/10 MANDATORY UPDATE on: October 11, 2014, 11:10:05 AM
 Still nobody really knows what the total coin supply will be, my guess would be somewhere around 6.1 million but who knows!
I have a feeling there are going to be MUCH more coins....

How much more?  I don't think any more then 7.5 million
33  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | 10/10 MANDATORY UPDATE on: October 11, 2014, 11:04:31 AM
If you buy it won't grow. Coins traded or bought from an exchange will not grow - it's all on the first page. Need to mine this coins because ICO is passed. My advice is to rent a rig - like NOW Smiley

Yes they will, just take 24 hours to mature.  You can't mine via POW now, renting a rig is a waste if you point it to seed coin you won't get anything
34  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | 10/10 MANDATORY UPDATE on: October 11, 2014, 10:52:27 AM
i think seed will still be around .01 after all is said and done, which is a great price, especially for ico investors.

If that were true -which is way beyond delusion-, it would be more than doubly great for those buying it here, at 0.04...

You really amaze me...

I hate to say it, but barabbas is right here. I will be surprised if its worth .00002000 around the end of growth. If the dev is REALLY gonna put work into this coin there are going to be deals to be had


For anybody just joining the reason it was worth more in the beginning is because If you didn't stake in the beginning 1 seed could turn into 65,000 Seeds hence the reason it was worth 0.1 btc Plus.  Only about 5 people realized this so most of us will end up hopefully turning 1 seed into over 9000 Seeds (or about 1000 sats per coin).  You would be beyond Delusional to believe it will hold anywhere close to the market value per seed but once full stakes have been distributed the Market cap should be higher meaning your seed value will be worth more!  So hopefully if it hits 1400 Sats per Seed you make about a 40% profit off of the IPO price.  Do not buy seed if you have no intention of staking as you will wipe out the value of your own bitcoin (unless you are purposely trying to decrease supply.)  Basically if you buy now you will have a maximum 4 days worth of staking so 1 seed will only give you about a maximum of 185 so even if you buy now at 0.01btc per seed you will be paying about 5405 Sats per seed. at the current price of 0.029 we would end at a price 0.00015675  Which would be fantastic if we could hold that price!  Still nobody really knows what the total coin supply will be, my guess would be somewhere around 6.1 million but who knows!
35  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | MANDATORY WALLET UPDATE on: October 10, 2014, 02:35:58 PM
Hmmm, I just staked(not yet confirmed), 0.00001, from a 0.21001 block. Is anybody staking at 269% Huh I opened my wallet at block 10120

Check out hash 4dde536faf11c0494fa2ec45071c2fe887bdbf6afd012061174e003f00fbfa79
or block 10128
36  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | MANDATORY WALLET UPDATE on: October 10, 2014, 12:46:55 PM

So looking at the rich list you have essentially given 4-5 people control of about 25% of the total coin supply if they play their cards properly and more if others don't.

I normally try to stay positive but find this information very disappointing.


Come on... give him a break. The information is all there on the OP. It is not his job to spell out all the possible outcomes of every possible strategy. That's the whole point; for the people to figure out the best method themselves. You could sell your seeds on the second day (while everyone is staking, and hardly any sellers), then buy on the 4th day for real cheap and stake everything you bought for 3 days. For all you know, the guy staking till the 7th day will have a lot of coins, without any buyers on the market. And those trends (if any) are visible from far for the trained eye. No way is someone going to stake to get 25% of the coin supply, for an overall net loss.

I have been quite supportive and positive in the thread up until I read this.  I am allowed to express my disappointment in the dev withholding the information that would have yielded a fairer distribution of the coin.   I did not attack him nor did I accuse him of intentionally deceiving the community.  While you say the information is all in the OP there is also a lot of misinformation.  Although I do not believe it was intentional it doesn't mean that it was black and white.  It states that their will be 1% stake for the first week and 269% for the following week period.  Everybody was encouraged to stake to reduce the number of coins and not "miss" out on compounding interest however 1 week of 1%annual compound interest is no where close to 1883% you would get if you didn't stake for the first week and opened your wallet for staking on the first day.  While I also don't hold the dev responsible for the full 7 days he admits that multiple people asked him privately about the issue if it would come out that way and when he realized he decided not to inform the community of this flaw.  I always like numbers and the discussed outcome was floating around 5-10 million coins MAX although it could have actually been higher then 30 million coins if nobody had staked.

My post had nothing to do with the price of the coin nor making a profit or loss it had to do with disappointment that inside knowledge of a few could drastically change the distribution of coins held by any one person.  I never stated that 1 person could own 25% I said Judging by the numbers on the rich list it is quite possible now that 4-5 people as long as they stake for the full 7 days could own 25% of the coins however it is also possible they could receive more; this is strictly the numbers as they are presented now.  I was always planning on mining/buying and staking with long term views that Cryptzo would deliver a fantastic project.  My post is there to express my disappointment and encourage Cryptzo to share all information when discovered especially if it can benefit a few and hurt the community as a whole.  I understand there is no way around it now, other then to just let it run its course but I truly hope from now on Cryptzo follows the Pink coin team on path filled with Altruism!
37  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | MANDATORY WALLET UPDATE on: October 10, 2014, 10:11:33 AM
The high rollers I'm sure don't want this disclosed, but take a look and the block explorer and rich list. Most of the top invested have not staked any coins. I asked myself why.

Ask yourself why.

As coins age, they collect weight, this weight increases chances to stake, but also how much your stake is actually worth. If it's always 1% it doesn't matter. But we're about to hit 269%.

But what happens when someone unlocks their wallet with 5 days of weight with 26 seeds on block 10101? How much will that added weight affect their day one payout?

The person with 26 seeds is doing it. And the reason is that he will significantly increase his day 1 payout, and hence his total share of the coin.

Everyone should keep that in mind going forward, some individuals may massively increase their coin share through the growth. Just by how much, I don't know.

... yes and no and I'm mortified.

Weight plays no factor in the number of coins you get, but age does. If your coins are 2 days old, you get paid 2 days worth of interest. If your coins are three days old, you get three days worth of interest. This is all well and good, because if you miss a day, you lose all the interest on the coins you would have gotten if you'd staked each day, or compound interest. Unfortunately I hadn't accounted for the fact that nobody would care about compound interest during the first week because the interest was so low. There's no special code that goes back and gives you the interest at the rate it was on the the days you missed, all interest is calculated at the current rate, and I completely missed this in development.

Age is also not limited to 24 hour periods, and that I've always been aware of. If it takes you 36 hours to stake on day 1 of growth, you'll actually get 1.5 * 2.69, but you also lose out on 12 hours you could have staked in the end, so this balances out.

We're not going to make day 7 for what it's worth. At the current pace,growth will begin in roughly 24 hours. And that's much, much earlier than I predicted, so the weight down-stepping that I coded in will actually happen too late to compensate for the faster blocks that happen because of the effect of rapid growth, so growth wont last 7 days either.

I feel awful about this, as it's a huge factor I hadn't considered. A couple of people brought it to my attention a couple of days in, and I had to think long and hard about it before ultimately having to decide that people with a keen eye would have seen this since the ico was first announced. It's smack dab in the middles of the official specs. 7 days max age. To fix the problem, I'd have to reduce that, or specifically ignore it during growth - which would also hurt everyone that loses a day over the course of the week because their coins couldn't stake fast enough. So I told the couple of people that mentioned it to me that I would leave it up to them whether or not they wanted to say anything.

At the very least I can say that there are ways to trump this that I have been completely aware of the whole time. I've always known that the growth period was going to be a bloodbath, because this is a sociological experiment as much as a technological one, where literally everything has an effect on the ultimate coin base. Everything. I just greatly underestimated just how many factors are at play here, and I completely missed the implications of this pre-growth holding tactic - which increased the amount of possible coins any one person could possibly stake.

This is actually devastating news.  I was under the impression that it would increase staking weight and that it had been coded so that when High interest kicked in everybody was on a level playing field as long as coins were mature.  I wouldn't have been staking at all if I had known this and to withhold this information is disappointing.  As a few people had mentioned it to you and decided not to inform the community when this has tremendous influence on the final tally of coin.  Doing the math on the 26 coins after 5 days of not staking if they stake right away and with their weight they should easily make the full 7 days of stake.  Starting with only 26 coins because everybody else in the community has been encouraged to stake they can end up with over 10% of the total coin supply (Assuming around 800 coins total to start and everybody staking for the full 7 days, if not but they do stake it could be substantially higher)

Day 1 =26 x 2.69 x 5 (Days not staked previously) + 26 = 375.7
Day 2= 375.7 x 2.69 + 375.7 = 1386.333
Day 3= 1386.333 x 2.69 + 1386.33 = 5115.23577
Day 4 = 5115.235777 x 2.69 + 5115.23577 = 18875.2199913
Day 5 =18875.2199913 x 2.69 + 18875.2199913 = 69649.561767897
Day 6=69649.561767897 x 2.69 + 69649.5617679 = 257006.88292354
Day 7=257006.88292354 x 2.69 + 257006.88292354 = 948355.39798787

So looking at the rich list you have essentially given 4-5 people control of about 25% of the total coin supply if they play their cards properly and more if others don't.

I normally try to stay positive but find this information very disappointing.


Keep in mind that there has been several issues with staking, safest would be to test your wallet and see that it works before the growth period starts, this guy hasnt done that. He might run into some problems Smiley

He might run into some problems but with all the fixes in the thread it should be easily solved within a couple hours.
38  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | MANDATORY WALLET UPDATE on: October 10, 2014, 08:49:55 AM
The high rollers I'm sure don't want this disclosed, but take a look and the block explorer and rich list. Most of the top invested have not staked any coins. I asked myself why.

Ask yourself why.

As coins age, they collect weight, this weight increases chances to stake, but also how much your stake is actually worth. If it's always 1% it doesn't matter. But we're about to hit 269%.

But what happens when someone unlocks their wallet with 5 days of weight with 26 seeds on block 10101? How much will that added weight affect their day one payout?

The person with 26 seeds is doing it. And the reason is that he will significantly increase his day 1 payout, and hence his total share of the coin.

Everyone should keep that in mind going forward, some individuals may massively increase their coin share through the growth. Just by how much, I don't know.

... yes and no and I'm mortified.

Weight plays no factor in the number of coins you get, but age does. If your coins are 2 days old, you get paid 2 days worth of interest. If your coins are three days old, you get three days worth of interest. This is all well and good, because if you miss a day, you lose all the interest on the coins you would have gotten if you'd staked each day, or compound interest. Unfortunately I hadn't accounted for the fact that nobody would care about compound interest during the first week because the interest was so low. There's no special code that goes back and gives you the interest at the rate it was on the the days you missed, all interest is calculated at the current rate, and I completely missed this in development.

Age is also not limited to 24 hour periods, and that I've always been aware of. If it takes you 36 hours to stake on day 1 of growth, you'll actually get 1.5 * 2.69, but you also lose out on 12 hours you could have staked in the end, so this balances out.

We're not going to make day 7 for what it's worth. At the current pace,growth will begin in roughly 24 hours. And that's much, much earlier than I predicted, so the weight down-stepping that I coded in will actually happen too late to compensate for the faster blocks that happen because of the effect of rapid growth, so growth wont last 7 days either.

I feel awful about this, as it's a huge factor I hadn't considered. A couple of people brought it to my attention a couple of days in, and I had to think long and hard about it before ultimately having to decide that people with a keen eye would have seen this since the ico was first announced. It's smack dab in the middles of the official specs. 7 days max age. To fix the problem, I'd have to reduce that, or specifically ignore it during growth - which would also hurt everyone that loses a day over the course of the week because their coins couldn't stake fast enough. So I told the couple of people that mentioned it to me that I would leave it up to them whether or not they wanted to say anything.

At the very least I can say that there are ways to trump this that I have been completely aware of the whole time. I've always known that the growth period was going to be a bloodbath, because this is a sociological experiment as much as a technological one, where literally everything has an effect on the ultimate coin base. Everything. I just greatly underestimated just how many factors are at play here, and I completely missed the implications of this pre-growth holding tactic - which increased the amount of possible coins any one person could possibly stake.

This is actually devastating news.  I was under the impression that it would increase staking weight and that it had been coded so that when High interest kicked in everybody was on a level playing field as long as coins were mature.  I wouldn't have been staking at all if I had known this and to withhold this information is disappointing.  As a few people had mentioned it to you and decided not to inform the community when this has tremendous influence on the final tally of coin.  Doing the math on the 26 coins after 5 days of not staking if they stake right away and with their weight they should easily make the full 7 days of stake.  Starting with only 26 coins because everybody else in the community has been encouraged to stake they can end up with over 10% of the total coin supply (Assuming around 800 coins total to start and everybody staking for the full 7 days, if not but they do stake it could be substantially higher)

Day 1 =26 x 2.69 x 5 (Days not staked previously) + 26 = 375.7
Day 2= 375.7 x 2.69 + 375.7 = 1386.333
Day 3= 1386.333 x 2.69 + 1386.33 = 5115.23577
Day 4 = 5115.235777 x 2.69 + 5115.23577 = 18875.2199913
Day 5 =18875.2199913 x 2.69 + 18875.2199913 = 69649.561767897
Day 6=69649.561767897 x 2.69 + 69649.5617679 = 257006.88292354
Day 7=257006.88292354 x 2.69 + 257006.88292354 = 948355.39798787

So looking at the rich list you have essentially given 4-5 people control of about 25% of the total coin supply if they play their cards properly and more if others don't.

I normally try to stay positive but find this information very disappointing.
39  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | MANDATORY WALLET UPDATE on: October 09, 2014, 01:00:11 PM
Why does the seedcoin wallet come up as malicious software in chrome when I try to download it ?

When I tried to download it with firefox , windows 8 blocked it as well when trying to run ....


What gives HuhHuh Huh

false positives, you have to temporarily disable it to allow it through.
40  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SEED] SeedCoin | Buy/Mine SEED & Grow Coinbase | MANDATORY WALLET UPDATE on: October 09, 2014, 12:58:14 PM
Hi,
the wallet is stuck on synching, block 4062.. and the blocks remaining to sync gets higher..

Does this mean that I wont be able to stake?

My seedcoin.conf
Code:
connect=185.45.192.191
connect=198.144.184.175
connect=199.127.226.221

addnode=184.155.137.189:15330
addnode=125.63.58.138:15330
addnode=62.30.194.230:15330
addnode=75.83.196.109:15330
addnode=64.130.82.224:15330
addnode=101.187.47.195:15330

I know you said you downloaded v 1.0.2.0 but did you delete everything in your %appdata% folder other then the conf and the wallet?? (ps my conf was just:
connect=185.45.192.191
connect=198.144.184.175
connect=199.127.226.221
then deleted once it was synced.  Although I had to close it and reopen it to get the last blocks to sync)
Pages: « 1 [2] 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!