[ANN] [COV] Coven [33k Coins/3%POS]

[tx42]

Now what is next ... Who is a staking expert? What is more effective for stabilizing the weak COV network - one node with 100 COV, or two nodes with 50 COV - or is it essentially the same?   Because if I actually receive some more donations on that address, I could afford to rent another VPS droplet, and send half of the funds there. Then there would be 2 nodes which are staking 24/7. But only if that really helps.

If the same person controls the coins, it doesn't matter if you split it up between nodes. For simplicity, you should have them all on the same node. It's a good idea to have a backup of the node somewhere in case the main node goes down for some reason. If you have enough coins (about 150 COV or so), you could split them into 20 transactions. In 8 hours they would start splitting to 40 on their own. 8 hours after that 160. With 320 transactions, you get 1 block every 5 minutes or so, which is enough to carry the network. The money you have already received from spartak could carry the network. Add this to whoever else is staking and it will move along nicely. It would take about 2 days to get there if you split into 20 transactions right now.

Staking with 0.5% of the money supply in this way wouldn't be "centralized" because you have 95.5% of the rest of the money to compete with you for blocks.

[1713582164]

1713582164

[drakoin]

Staking... I offer to leave this wallet running, so there is a staking node. To improve the network. If you want to increase the Stake Weight of this node, send some COV coins there. Every bit helps.
COV address of this 24/7 staking node: CQfH2dwUcGXcxvfxU2nqoqGC4qcbSipvRX

^ that was the beginning of something beautiful. Here it continues:

What is more effective for stabilizing the weak COV network - one node with 100 COV, or two nodes with 50 COV - or is it essentially the same?

You have another 100 from me.  
Cheers,
Spartak

Thanks spartak_t, great.

Really great. You are enabling us to do step 3 now:

Now what is next ... Who is a staking expert? What is more effective for stabilizing the weak COV network - one node with 100 COV, or two nodes with 50 COV - or is it essentially the same?   Because if I actually receive some more donations on that address, I could afford to rent another VPS droplet, and send half of the funds there. Then there would be 2 nodes which are staking 24/7. But only if that really helps.

If the same person controls the coins, it doesn't matter if you split it up between nodes. For simplicity, you should have them all on the same node. It's a good idea to have a backup of the node somewhere in case the main node goes down for some reason. If you have enough coins (about 150 COV or so), you could split them into 20 transactions. In 8 hours they would start splitting to 40 on their own. 8 hours after that 160. With 320 transactions, you get 1 block every 5 minutes or so, which is enough to carry the network. The money you have already received from spartak could carry the network. Add this to whoever else is staking and it will move along nicely. It would take about 2 days to get there if you split into 20 transactions right now.
Staking with 0.5% of the money supply in this way wouldn't be "centralized" because you have 95.5% of the rest of the money to compete with you for blocks.

You are one cool genius!

Thank you so much for being here, and sharing your knowledge!


sendmany.sh
Now a tool of mine, which I developed for totally different purposes, has come in handy.
Have a look at my sendmany.sh script. It is open source on github. What sendmany.sh does is ...
... creating many sendtoaddress transactions in a one-liner. Using any walletd.
Useful when the stupid "Transaction too large. Error: Transaction creation failed" comes up. Use it, tip me.
Yes, that is what cryptocoins were invented for - tipping on the internet. Tip more often, my fellow sorcerers!  


Not sure yet about the sending-to-myself, within the same walletd. I might have to redo
this from one node to the other in case it simply recycles the same coins for each of the
20 tx? I cannot imagine that to be the case - but we will see, once block 2331 is there.


What I have done is this:

Code:

Covend getinfo
{
    "balance" : 158.98,
    "blocks" : 2330,
}

Covend getnewaddress splitIntoParts
CHDavnxvV93jLBWXmVFFwU66uNJ3jXFSxm

... to have a new receiving address CHDavnxvV93jLBWXmVFFwU66uNJ3jXFSxm

Then I downloaded my script, and made it executable:

Code:

wget https://raw.githubusercontent.com/drakoin/LinuxWallet/master/sendmany.sh
chmod 700 sendmany.sh

./sendmany.sh help
Usage: sendmany.sh walletd targetaddress number packagesize message

Because the wallet was unlocked for "stakingonly", I have to relock, and unlock again, for 2 minutes:

Code:

Covend walletlock
Covend walletpassphrase noIwillNotTellYouMyPassPhraseReallyIWont 120 

Now here comes the vigintisaltito dance:

Code:

./sendmany.sh Covend CHDavnxvV93jLBWXmVFFwU66uNJ3jXFSxm 20 8 Let_us_together_save_COV_!

I will use Covend to send 20 packages of size 8 to CHDavnxvV93jLBWXmVFFwU66uNJ3jXFSxm with message Let_us_together_save_COV_!
Press Ctrl-C if you do NOT want that, or ENTER if you agree...

Code:

Good. Let us start.
Balance before the action was 158.98000000
BEFORE=158.98000000 AFTER=158.97900000 TX-ID=0b908a9cbdf811fe98a4644876c0b6519f6bb1826284f352215f1a108abaefbd
BEFORE=158.97900000 AFTER=158.97800000 TX-ID=b8fa005bb2588492da32eb624f2296e960f74423f1fd8b4fe9e8e6a3fe003784
BEFORE=158.97800000 AFTER=158.97700000 TX-ID=a4f48a68c91e5131a33b2226d44fc7bc5e2fd856dd97d3594b263462df25020c
BEFORE=158.97700000 AFTER=158.97600000 TX-ID=18492441241a9d109331bf853acbd901360c1f0dd2ecb3b391c164d8799f3d0e
BEFORE=158.97600000 AFTER=158.97500000 TX-ID=bc67d243e382f01fe7cf92f8a3323c716cc30ce072dd56ed52dd5fefe9b73143
BEFORE=158.97500000 AFTER=158.97400000 TX-ID=94969d3e0e349da49e4ef8476ff5ff3088e27fefac1ccf13664c830d767ca563
BEFORE=158.97400000 AFTER=158.97300000 TX-ID=5c096aa145dc2b49d43431400781326512e078c1157b17bf5b12812b4005afea
BEFORE=158.97300000 AFTER=158.97200000 TX-ID=7d3e83363bb1375d168e2447cef4a1c20ffa72475d1b72c6df88516ce535e033
BEFORE=158.97200000 AFTER=158.97100000 TX-ID=ca8bf1cd0836a574c819162f6f5582eacd850d40de63299a4bffca84fa3d8df3
BEFORE=158.97100000 AFTER=158.97000000 TX-ID=2443a0a290547c0f4dd41b31f9dc425358f6ab10c9c6bc81caeaa304580f9808
BEFORE=158.97000000 AFTER=158.96900000 TX-ID=58162d5db8e197eb68b6b239bdf11b012322173682795ccde82f9b4093b69149
BEFORE=158.96900000 AFTER=158.96800000 TX-ID=36381107655230e49b29cfa6896ad1ecc9dfd679385ce7c371e64a56c0feb44f
BEFORE=158.96800000 AFTER=158.96700000 TX-ID=25221300c1c3ba09937c519f52c69ea615dceda4b5eb4e51587999f2633d74dc
BEFORE=158.96700000 AFTER=158.96600000 TX-ID=205385f7a4e800e9ff116c1a66e6e764a332a2b32fc1b6b0e245647fb4ddafe6
BEFORE=158.96600000 AFTER=158.96500000 TX-ID=8d27600fc275a7bbfadbfbe592864be91890c0650dd53337c618db1a04b0b340
BEFORE=158.96500000 AFTER=158.96400000 TX-ID=bbeed82ced66c6d5d9a5c62b168bcbe7f8bb00ae8fc31c60c97ae993e1f7582f
BEFORE=158.96400000 AFTER=158.96300000 TX-ID=bfba8f92dda2fd04d1020e865aa05d7694497d7856e7a2fa5aab6fc89f3865a8
BEFORE=158.96300000 AFTER=158.96200000 TX-ID=a852527e5d4dc043cced582844dfb28772eb3e378ae21718362985b51a8956fa
BEFORE=158.96200000 AFTER=158.96100000 TX-ID=fd79aa3ef21e99e2c2c119eef2b49811aa57e343a82eb32eb8dc409c7dc55295
BEFORE=158.96100000 AFTER=158.96000000 TX-ID=08f8ea393853812ee63431fecb0f74b7cad3fd2535a9fdd219334e958dea87e1

Code:

Ready.
In total, including transaction fees, .02000000 were sent.
Balance after all that action now is: 158.96000000
.
Please consider to tip drakoin for this script at:
in BTC = 1JLKNFxKjkU3YsLs38y4e672iWiXBeFYP3
or C-Notes = CTVHuvvdJj61fC1mzFAQ4V1TrYBb8QTpiA
or MUE = 793AKFakqZPGRyFWPp21dp8b9gRA7YFGnf
or COV = CTLx4Qz7j9sBG5AbC2TT5MAUphdDdbMF7r
Thanks!

And finally, not to forget:

Code:

Covend walletpassphrase noIwillNotTellYouMyPassPhraseReallyIWont 654321 true

I am opening this 24/7-staking-wallet for staking for the next 7.57 days:

Code:

Covend getinfo
{
    "version" : "v1.2.0.0-g32a928e",
    "protocolversion" : 60014,
    "walletversion" : 60000,
    "balance" : 158.96,
    "blocks" : 2333,
    "moneysupply" : 33607.74233201,
    "connections" : 19,
    "difficulty" : {
        "proof-of-work" : 28420.28414317,
        "proof-of-stake" : 0.00024414
    },
    "unlocked_until" : 1431100756,
    "errors" : "",
    ...
}

Right now getstakinginfo still says 'false' but that was the same yesterday, probably I have to wait a few hours now? Will keep you updated ...

Code:

Covend getstakinginfo
{
    "Enabled" : true,
    "Staking" : false,
    "Errors" : "",
    "Current Block Size" : 8553,
    "Current Block Tx" : 22,
    "Pooled Tx" : 22,
    "Difficulty" : 0.00024414,
    "Net Stake Weight" : 879,
    "Expected Time" : -1
}

Ah, but here, look ^^^ my ~20 transactions are in there.

... and now ... the block 2331 was generated!

The results:

• We "lost" 0.02 COV in transaction fees.        
  "BEFORE=158.98 --> Balance after all that action now is: 158.96"
  
  • Whoever staked the block, got them ... in total 0.04361403 COV fees - and money, by construction, falls to the top *lol*:
  • Block 2331 was won by a "big guy" (2042 COV balance).
    Hey - share your wealth, YOU should really pay into our SaveCOV funds!
    
    
• There are 20 different TX now, each holding 8 COV.
  Small packages which will help to speed up the network. See our genius' explanations above.
    THIS WAS THE WHOLE PURPOSE OF THIS EXERCISE.
  
  
• My address CHDavnxvV93jLBWXmVFFwU66uNJ3jXFSxm is holding them,
  but in the B.E. is showing the really strange balance -96.0 COV.
  (I am claiming a BUG BOUNTY for finding this!)
  

.

• Do I need to redo this with addresses on two separate machines!?
  

.

• Anyways ... if this works out, IMHO we have proven that
  opportunity PLUS action PLUS money PLUS knowledge PLUS discipline ... can cooperate:
  
  • opportunity = given by CovenDev
  • action = initiated and executed by drakoin
  • money = provided by spartak_t
  • knowledge = shared by tx42
  • discipline = the unknown big guy who is properly staking his ~2000 coins.
• There is a real chance that COV can be saved.
• ... by us magicians ourselves!

Looks like we were a team, for a moment :-)

A real coven ...

[drakoin]

It's a good idea to have a backup of the node somewhere in case the main node goes down for some reason.

So I clone the whole droplet including the wallet.dat and start the walletd in the cloned node? The two won't interfere wrongly with each other?

Alright then, I could do that.  People send me donations - and I love to do stuff like that for you 

-->

Staking ...
I offer to leave this wallet running, so there is a staking node. To improve the network.
If you want to increase the Stake Weight of this node, send some COV coins there. Every bit helps.
COV address of this 24/7 staking node: CQfH2dwUcGXcxvfxU2nqoqGC4qcbSipvRX

But please ... not only you again, spartak_t - there are others invested in this, too - right?

Thx 

[tx42]

long post

My buy order for 26 COV is at the top of the bittrex orders right now. If someone dumps into it, I'll send them to your staking wallet minus the transaction fee.

[edit]

Already buried.

[tx42]

It's a good idea to have a backup of the node somewhere in case the main node goes down for some reason.

So I clone the whole droplet including the wallet.dat and start the walletd in the cloned node? The two won't interfere wrongly with each other?

No. Just have a backup of the wallet ready in case your droplet goes down. If it's a droplet, you probably don't have to worry about it too much.

[fonzerrellie]

great work guy's, I got a confirm on a deposit from yesterday.  my wallet is still open and trying to help stake

[DFiLeR]

I like the community here hehe. Also still staking some for the hell of it. Hopefully dev hangs around

[spartak_t]

I like the community here hehe. Also still staking some for the hell of it. Hopefully dev hangs around

There is no community here, because I am still about half the weight of the network. If the "community" wants to at least give a chance for COV, they will withdraw (at least part) their coins and help with the staking.

[fonzerrellie]

I like the community here hehe. Also still staking some for the hell of it. Hopefully dev hangs around

There is no community here, because I am still about half the weight of the network. If the "community" wants to at least give a chance for COV, they will withdraw (at least part) their coins and help with the staking.

even if they do it will take a long time for the coins to arrive and start confirming... it takes time. I was sending them to my wallet as I bought them the ones I bought yesterday got their first confirm this afternoon.

[ramtony]

I like the community here hehe. Also still staking some for the hell of it. Hopefully dev hangs around

There is no community here, because I am still about half the weight of the network. If the "community" wants to at least give a chance for COV, they will withdraw (at least part) their coins and help with the staking.

+1

I must be the other half then

[spartak_t]

even if they do it will take a long time for the coins to arrive and start confirming... it takes time. I was sending them to my wallet as I bought them the ones I bought yesterday got their first confirm this afternoon.

So what? My last withdrawal from Bittrex lasted idk.. 16 or 18 hours.

[drakoin]

... explanations for what this is you find in:

Staking... I offer to leave this wallet running, so there is a staking node. To improve the network. If you want to increase the Stake Weight of this node, send some COV coins there. Every bit helps.
COV address of this 24/7 staking node: CQfH2dwUcGXcxvfxU2nqoqGC4qcbSipvRX

We have moved 32 blocks in those ~10 hours: 2331 --> 2363 (that is already not much worse than bitcoin actually, which does 60 blocks in 10 hours )

Code:

Covend getinfo
{
    "version" : "v1.2.0.0-g32a928e",
    "protocolversion" : 60014,
    "walletversion" : 60000,
    "balance" : 168.96,
    "blocks" : 2363,
    "moneysupply" : 33607.86414137,
    "connections" : 24,
    "difficulty" : {
        "proof-of-work" : 28420.28414317,
        "proof-of-stake" : 0.00024414
    },
    "testnet" : false,
    "unlocked_until" : 1431100756,
    "errors" : ""
}

"Staking" went to "true" now as expected:

Code:

Covend getstakinginfo
{
    "Enabled" : true,
    "Staking" : true,
    "Errors" : "",
    "Current Block Size" : 1000,
    "Current Block Tx" : 0,
    "Pooled Tx" : 0,
    "Difficulty" : 0.00024414,
    "Weight" : 60,
    "Net Stake Weight" : 995,
    "Expected Time" : 1492
}

If I had a GUI I would use "coin control" for that, but how to do this on the commandline?
Is there a simple way to show a those increasingly many smaller packages with an RPC command? -->

... you could split them into 20 transactions. In 8 hours they would start splitting to 40 on their own. 8 hours after that 160. With 320 transactions, you get 1 block every 5 minutes or so, which is enough to carry the network. ... It would take about 2 days to get there if you split into 20 transactions right now.

And again: A cool idea, really. :-)

[rpandassociates]

I got a chunk of coven in the wallet and it says its staking it says reward like 17 mins been that way for 2 days.... Is it staking?


20:55:18

getstakinginfo



20:55:18

{
"Enabled" : true,
"Staking" : true,
"Errors" : "",
"Current Block Size" : 1000,
"Current Block Tx" : 0,
"Pooled Tx" : 0,
"Difficulty" : 0.00024414,
"Search Interval" : 1,
"Weight" : 76,
"Net Stake Weight" : 958,
"Expected Time" : 1134
}

[fonzerrellie]

yeah the blockchain is just moving ridiculously slow

[jerowacik]

where dev ?
how website launching in this week ?

[tx42]

yeah the blockchain is just moving ridiculously slow

Does anyone have any mature coins that aren't staking? In other words, does anyone have any coins that should be staking but aren't minting blocks?

[fonzerrellie]

a couple comments up sounds like it... lol I stopped watching the wallet and just checked it for the first time in a day or so and my last deposit still only has 1 confirm... seems pretty dang stuck to me

[Anonyme]

wake up dev's ,, do not sleep lol 

[DFiLeR]

staking alright here, still lot slower than its meant to be, but working

[spartak_t]

... but working

Unlike the dev who disappeared.