PPCoin Stake Questions

[rustyh17]

I have a PPC holding in my wallet. What specifically do I have to do to get Stake coins? Do I have to have the client running?
Do I have to leave the coins in my wallet? Does Stake coin amounts vary with the primary wallet balance? How does coin age
show up so that I can review status?

Basically, any specific information that can be given regarding stake coins is of keen interest to me as I intend to hold these
coins for the long term to accumulate a sizable stake.

Thanks in advance!

-rustyh17

[xchrix]

+1

i am also not sure about proof of stake.
i was running ppc daemon on a small server for more than one month with some coins on it. did nothing with it and got a lot of new coins after 30 days!

[legitnick]

Just mined around 20 of them not sure if they will ever be worth anything though.

[cabin]

Seems to be you need to leave your client running to generate them. However it is not computationally difficult at all. The way I understand it the more coins you have and the older they are then:
- the larger your reward if you find a stake block
- the less time it will take to find a stake block (the current difficulty is 1, but this can rise)

Regardless of how long it took your coins all reset to age 0 when you find a stake and they are locked for the next 520 blocks.

https://github.com/ppcoin/ppcoin/wiki/FAQ

Here is an example of a stake block where someone got 0.53 PPC:
http://www.cryptocoinexplorer.com:2750/block/bbf9caef0b15562e9cbe2c500d3faa677ff281ecdb2ff7e251f406caba887fec

[rustyh17]

Does anyone know how to see the coin age of the PPC in a holding?

[cunicula]

I have a PPC holding in my wallet. What specifically do I have to do to get Stake coins? Do I have to have the client running?
Do I have to leave the coins in my wallet? Does Stake coin amounts vary with the primary wallet balance? How does coin age
show up so that I can review status?

Basically, any specific information that can be given regarding stake coins is of keen interest to me as I intend to hold these
coins for the long term to accumulate a sizable stake.

Thanks in advance!

-rustyh17

Rustyh17 it will take 70 years for your balance to double via PoS mining. Just so you don't get disappointed.

To mine you have to a) not send your coins b) run your client. Assuming you have about 20,000 coins or more, a week's worth of client operation per year should be adequate. Alternatively, keep your wallet offline and run it again in 70 years.

Constant operation doesn't help you much (70 years doubling time ->~69 years), but it is good for the network as a whole.

[cabin]

Does anyone know how to see the coin age of the PPC in a holding?

well it is just the number of days since you received the coins * number of coins.. but no I haven't found a place it is visible yet either. Probably on the TODO list or might be commandline only.

[ewibit]

i am also not sure about proof of stake.

me too
pls can anyone explain this system of proof of stake in easy english for non native english speakers?
TIA

[Jutarul]

i am also not sure about proof of stake.

me too
pls can anyone explain this system of proof of stake in easy english for non native english speakers?
TIA

There are two aspects to your ppcoins when you want to use them as stake:
1) capacity to sign a block, and thus generate a proof-of-stake block in the blockchain
2) the reward you get when you generate a block

Regarding 1):
The MINIMUM age of an unspent output must be 30 days. Then the LIKELIHOOD to generate a proof-of-stake block depends on PPCOIN*COINDAYS. Thus the older the unspent output, the larger the block signing capacity. The LIKELIHOOD is CAPPED at 90 days. Thus you cannot increase your stake signing capacity indefinitely (a very important point for network security!!!). However, your total stake signing capacity still scales with the number of ppcoin you have > 30 days. Thus your MAXIMUM proof-of-stake signing capacity is given by PPCOIN*90.

Regarding 2):
The incentive for generating POS blocks is a reward which scales with PPCOIN*COINYEARS*1%. Contrary to the likelihood, this is currently NOT CAPPED. There are concerns that due to this, people may opt to keep their coins offline for an indefinite period of time, thus reducing the total POS capacity of the network. However, this has been recognized as a problem and a solution would be to introduce an incentive to put the POS online as much as possible. (https://bitcointalk.org/index.php?topic=127954.msg1365988#msg1365988)