[SNRG] 🔥 Synergy 🔥 Cloud.Synergycoin.com Cloud Bot Now Live!! 🔥

[SockPuppetAccount]

On June 4th I had about 2.37% of the total coins.  Not the largest holder but I am sure far from the smallest either.  I had a busy weekend and haven't paid attention to the client much, but have been staking nonstop.  Possibly my results would have been different if I were recombining my smaller blocks back together on a more regular basis, possibly not.  The highest I was able to get my turbo stake multiplier up to is 85x.  As of right now, my total share of the coins has fallen from 2.37% to 2.17%.

It seems my fears of turbo-staking turning into a "rich get richer" system are coming true.  Right now I am protected by the guarantee, so I'm not worried, but if turbo stake were to continue on in some form after the initial 30 days it would need to be massively overhauled.  No one is going to want to buy and stake SNRG if the best case scenario is optimizing your staking strategy to minimize your losses, while the biggest wallets continually max out the 288x multiplier.  I mean, if I can go from 2.37% to 2.17% in just a few days, I imagine the even littler guys who were only able to get their multiplier up to 20x or 40x are doing worse.  Extrapolate this out to a longer time span, and it is simply a losing proposition to hold and stake SNRG.

The current course of action has turbo staking expiring on schedule, all those who staked the entire time compensated by the guarantee, turbo stake written off as a failed but interesting experiment, and hopefully the coin is able to find a following and becoming successful based on further developments and features.  IF turbo staking were to continue on though, the only way I see it working is if the max multiplier were drastically cut, like down to 10x.  This encourages anyone staking to purchase enough coins to only have to stake 0.7% of all blocks in a 48 hour period.  Since not all coins will be staking at a given time, this should be achievable with even less than 0.7% of all the coins if they stake 24/7.  This caps the max inflation at 100% annually before considering compound interest, so it is relatively high POS but not anything too insane to where it would need to be reduced anytime soon.  It allows the little guy to get in on the action for a price that should remain relatively affordable for the foreseeable future and encourages him to keep his client open 24/7.

As CapnBDL pointed out, you need to pay attention to the little guy because the way for a young coin to gain a community and become successful is not to have a small handful of massive holders hoarding all coins and continually out-staking their holdings into irrelevance.

[sempak]

basically i Like this coin

[CapnBDL]

I was going to quote SockPuppetAccount but it's long, however I truly hope the devs are paying attention. Well said, well phrased, and seemingly well versed on this subject. The 'rich get richer' isn't the way to build our community (ie coin) as it makes for an elite following vs.an open co-op. Setting a ceiling may be one way to curtail this issue. Or 'bottoms-up' staking. lol Don't use that name.
I don't have the answers, but know that questions need to be addressed. I stand by my statement: "Pay attention", lest you lose your base (the little guy) and end up creating a pump n dump situation with massive losses for a majority of smaller holders (Me). Then,... the coin and the SNRG community is dead. I, for one, would hate to see such a bright start at possibilities come to a screeching halt due to lack of vision.

[Grandpa Jones]

I don't have time to put out the performance update tonight, but I have all the coding done. This update will drastically speed up synchronization of Turbo Stake blocks as well as speed up launching the wallet.

I decided to make updating the wallet a one-click operation (almost). I'm pretty thrilled about it because I made a catchall procedure that can fix just about any wallet problem with a single menu selection. Right now, it's called "Update Wallet", but the name may change. I might be overly excited about it, but I believe this unique bit of Synergy tech will prevent many, many headaches in both users devs.

I'll have the release ready tomorrow, but for now here's what it looks like in the file menu.




And yes, we are listening to your opinions very closely.

[cancerman]

Grandpa Jones. Are you serious? This is awesome. Honestly, this is something that has been lacking in crypto wallets for ages and is such a hold back for the industry. Wallet upgrades should be easy, if this works as you say that is AMAZING.

Not everyone knows how to upgrade their wallet, or how to AT ALL!

[SockPuppetAccount]

I was going to quote SockPuppetAccount but it's long, however I truly hope the devs are paying attention. Well said, well phrased, and seemingly well versed on this subject. The 'rich get richer' isn't the way to build our community (ie coin) as it makes for an elite following vs.an open co-op. Setting a ceiling may be one way to curtail this issue. Or 'bottoms-up' staking. lol Don't use that name.
I don't have the answers, but know that questions need to be addressed. I stand by my statement: "Pay attention", lest you lose your base (the little guy) and end up creating a pump n dump situation with massive losses for a majority of smaller holders (Me). Then,... the coin and the SNRG community is dead. I, for one, would hate to see such a bright start at possibilities come to a screeching halt due to lack of vision.

Well thank you, once in a while I make a post around here that proves I have a functioning brain!  Although the idea of "bottom-ups" staking sounds good (and would provide opportunities for jokes and innuendos), it's an idea I've heard tossed around a million times before and no one has ever come up with an answer to the question "why not just make thousands of different addresses then?".  Even if someone could come up with an answer to that problem, I don't think someone should be handicapped for holding a large amount of coins.  It's why I like POS 2.0 so much.  All that matters is keeping your client open 24/7.  The little guy is guaranteed to make gains in his total share of the coins as long as his client is up more than the average.  It's fair and ensures a healthy network.

That being said, I welcome innovation in this endless sea of clones, and maybe turbo staking is just a gimmick in the end but it could be a gimmick that helps to build it's community while the devs work on other tech and updates.  I don't mean to push my idea too hard but I still like my idea of a drastic cut to the multiplier ceiling.  It's simple, fair, and rewards early adopters for getting enough coins early while they are cheap while not punishing later adopters too harshly.  With the marketcap of SNRG as it stands right now, and a max multiplier of 10x, the price would need to rise 100x before buying in for enough coins to consistently maintain the max multiplier would begin to be considered "expensive".  This ensures a healthy demand for the coin as well.  It would take nothing but 100 stakers looking to get enough coins to max the multiplier to drastically push the price higher and create a highly competitive and secure POS network.

I don't have time to put out the performance update tonight, but I have all the coding done. This update will drastically speed up synchronization of Turbo Stake blocks as well as speed up launching the wallet.

I decided to make updating the wallet a one-click operation (almost). I'm pretty thrilled about it because I made a catchall procedure that can fix just about any wallet problem with a single menu selection. Right now, it's called "Update Wallet", but the name may change. I might be overly excited about it, but I believe this unique bit of Synergy tech will prevent many, many headaches in both users devs.

I'll have the release ready tomorrow, but for now here's what it looks like in the file menu.




And yes, we are listening to your opinions very closely.

This is awesome.  As someone who is generally staking a dozen different coins at a time, if devs used this feature + network alerts to say "hey, update now!", it would definitely save me a load of headaches.  I imagine this will be standard procedure one day, but I won't forget who did it first 

[CapnBDL]

@SockPuppetAccount

Oh...I agree. I'm not trying to say that the early adopters should be penalized. I was an early adopter, but as just an average guy, didn't have 6 GPUs hashing away. In other words...I got smoked, pushed to the bottom of the ladder in the mining phase. Such is life!

Not sure what the real answer is, or for that matter, is there an answer? I believe in SNRG, the community, and the devs. Some unique ideas. Just hoping they don't forget the ppl behind it's growth and look towards gathering more followers. I've been watching a couple of exchanges chat and see many pump n dump altcoins come & go. I don't want SNRG to jump out of the boat, as well.

Staying involved is a key to success.


                                                                                                                                                                                 CapnBDL   

[vegasguy]

The "update wallet" feature would be a first in Crypto. So simple, yet so brilliant!  As far as Rich getting richer, its not about that, if the top holders get rewarded the most, it encourages the bottom holders to buy more , thus raising volume and prices on the exchanges, therefore increasing EVERYONE'S overall value that hold this coin. If the bottom holders get the biggest rewards, whats the incentive to buy more? When there is no more buy interest, the coin dies. Thats simple economics.

Vegas

[david1365]

The "update wallet" feature would be a first in Crypto. So simple, yet so brilliant!  As far as Rich getting richer, its not about that, if the top holders get rewarded the most, it encourages the bottom holders to buy more , thus raising volume and prices on the exchanges, therefore increasing EVERYONE'S overall value that hold this coin. If the bottom holders get the biggest rewards, whats the incentive to buy more? When there is no more buy interest, the coin dies. Thats simple economics.

Vegas

It's not first in crypto, you should check navajocoin one click update feature.

[vegasguy]

The "update wallet" feature would be a first in Crypto. So simple, yet so brilliant!  As far as Rich getting richer, its not about that, if the top holders get rewarded the most, it encourages the bottom holders to buy more , thus raising volume and prices on the exchanges, therefore increasing EVERYONE'S overall value that hold this coin. If the bottom holders get the biggest rewards, whats the incentive to buy more? When there is no more buy interest, the coin dies. Thats simple economics.

Vegas

It's not first in crypto, you should check navajocoin one click update feature.

Good to know. Thanks.

Vegas

[david1365]

The "update wallet" feature would be a first in Crypto. So simple, yet so brilliant!  As far as Rich getting richer, its not about that, if the top holders get rewarded the most, it encourages the bottom holders to buy more , thus raising volume and prices on the exchanges, therefore increasing EVERYONE'S overall value that hold this coin. If the bottom holders get the biggest rewards, whats the incentive to buy more? When there is no more buy interest, the coin dies. Thats simple economics.

Vegas

It's not first in crypto, you should check navajocoin one click update feature.

Good to know. Thanks.

Vegas

You're welcome

[Grandpa Jones]

The "update wallet" feature would be a first in Crypto. So simple, yet so brilliant!  As far as Rich getting richer, its not about that, if the top holders get rewarded the most, it encourages the bottom holders to buy more , thus raising volume and prices on the exchanges, therefore increasing EVERYONE'S overall value that hold this coin. If the bottom holders get the biggest rewards, whats the incentive to buy more? When there is no more buy interest, the coin dies. Thats simple economics.

Vegas

It's not first in crypto, you should check navajocoin one click update feature.

It's actually a one-click wallet rebuild. I'll probably rename it to "Rebuild". "Update" looks to be confusing. I was hoping it would convey an update of the wallet data structure, but it's clear that "update" has a different meaning in user space.

A one-click version upgrade is a good idea.

[Live4Crypto]

The "update wallet" feature would be a first in Crypto. So simple, yet so brilliant!  As far as Rich getting richer, its not about that, if the top holders get rewarded the most, it encourages the bottom holders to buy more , thus raising volume and prices on the exchanges, therefore increasing EVERYONE'S overall value that hold this coin. If the bottom holders get the biggest rewards, whats the incentive to buy more? When there is no more buy interest, the coin dies. Thats simple economics.

Vegas

It's not first in crypto, you should check navajocoin one click update feature.

It's actually a one-click wallet rebuild. I'll probably rename it to "Rebuild". "Update" looks to be confusing. I was hoping it would convey an update of the wallet data structure, but it's clear that "update" has a different meaning in user space.

A one-click version upgrade is a good idea.

Ah, ok!  That's still VERY useful, but a one-click version upgrade would be awesome as well.

Keep up the great work.  These little updates say a lot to us holders.

[Grandpa Jones]

Performance Update

A new version of the client (1.0.5.0) is available from the links on the OP.

This update does not involve a change to the core protocol, so will not fork the chain.


Improvements are:

• Much faster syncing of the Turbo Stake blocks.
• Much faster launch of the client.
• One-click wallet repair (File -> Rebuild).
• Turbo Stake statistic in "gettransaction" and "listtransactions" RPC commands.
• A Turbo Stake stats page placeholder that may or may not ever be completed depending on other development concerns.

Updating is easy.

• Backup your wallet with your current client.
• Restart with the new client, version 1.0.5.0.
• Select the File -> Rebuild menu item.
• Backup your wallet again after the wallet rebuild.

[david1365]

LOL really nobody is active here anymore except DEV

[Starin]

LOL really nobody is active here anymore except DEV

Lol. Previous page was one of the most constructive discussions in any altcoin topic.

Thanks for the update Grandpa, it definetly worked faster for me.

[david1365]

Aha found one active user, who's next?

[CapnBDL]

So Grandpa...trying out the new wallet. I get the 'rebuild', but what does the 'TurboStake' button do? I entered my address but nothing happens. Will you explain plz?

Thanks

[Live4Crypto]

I'm here, just been busy with life stuff...   

Super appreciative of the update provided last night.  All of those fixes and changes are the things that really make one crypto stand out from another. 

[Grandpa Jones]

So Grandpa...trying out the new wallet. I get the 'rebuild', but what does the 'TurboStake' button do? I entered my address but nothing happens. Will you explain plz?

Thanks

That is a placeholder for a Turbo Stake stats page that I started work on. I've been very busy trying to get the wallet running smoothly from Turbo Stake itself. Hopefully I'll have a little time to put some things in the page. I kept the placeholder in this release because it would take too much time to take out just to put back in again.