[ANN] Genstake [GEN] [QT WALLET UPDATE] [STAKE-MINE] [SCRYPT] [FULL POW/POS]

[badam]

As an experiment i resynced my blockchain again using only the hardcoded nodes and got on the same chain with pools so it seems that now everybody is on the same chain.
Let's hope there will be no more issues

[ThinkingOutLoud]

Yeah, everything is going well for the moment. I'm watching the chain closely. Difficulty has ramped up quite a bit for staking, and difficulty for pow is still reasonably high. Fingers crossed the forking issues are behind us, but I'm still sweating it.

We'll know better what the situation is in a couple of hours. Thank you everyone for being so patient.

[kubuminer]

thanks guys all why work on @BinPool. Happy work and happy minig.

Please spread hash on our pool for help our miners found blocks.

[morrisonsa]

Yeah, everything is going well for the moment. I'm watching the chain closely. Difficulty has ramped up quite a bit for staking, and difficulty for pow is still reasonably high. Fingers crossed the forking issues are behind us, but I'm still sweating it.

We'll know better what the situation is in a couple of hours. Thank you everyone for being so patient.

Because of your 1k premine being the only thing staking really at 20 BR for POS vs 1 BR for POW. 

[badam]

Yeah, everything is going well for the moment. I'm watching the chain closely. Difficulty has ramped up quite a bit for staking, and difficulty for pow is still reasonably high. Fingers crossed the forking issues are behind us, but I'm still sweating it.

We'll know better what the situation is in a couple of hours. Thank you everyone for being so patient.

Because of your 1k premine being the only thing staking really at 20 BR for POS vs 1 BR for POW. 

Really? Check it here i mined some blocks at the beggining

[morrisonsa]

You sure your on the right chain?

[morrisonsa]

Just saying 20 POS reward vs 1 POW reward = Premine advantage.

Not even worth the mining costs unless it hits a 100k valuation or so.  Because I have had over half the network hash for 2 hours now and I only mined 90 coins.  So your POS blocks >>>>>>> any POW costs.

[badam]

You sure your on the right chain?

I am absolutely sure

[morrisonsa]

You sure your on the right chain?

I am absolutely sure

K, just making sure, alot of guys who did early mining then walked away weren't.

[ThinkingOutLoud]

New node up:

node3.genstake.com


Also, the premine has staked a grand total of 12 times. That's 240 coins. There's now well over 10k coins on the network. Given that we're on block 1165 and the premine was 1k, everything over 2164 coins was staked.

So that means that of almost 8k coins that people have been able to stake so far, my 'massive' premine has won me 240 of those coins.

[zsnorbi]

A block explorer would help us all to understand the blockchain now. Can we expect one soon?

[Paycoinzzz]

Yeah, everything is going well for the moment. I'm watching the chain closely. Difficulty has ramped up quite a bit for staking, and difficulty for pow is still reasonably high. Fingers crossed the forking issues are behind us, but I'm still sweating it.

We'll know better what the situation is in a couple of hours. Thank you everyone for being so patient.

Because of your 1k premine being the only thing staking really at 20 BR for POS vs 1 BR for POW. 

I've gotten over 40 PoS blocks myself. Break up your mined coin into multiple inputs and you will get plenty of PoS blocks too. Or keep spreading FUD like a douche.

[Paycoinzzz]

Just saying 20 POS reward vs 1 POW reward = Premine advantage.

Not even worth the mining costs unless it hits a 100k valuation or so.  Because I have had over half the network hash for 2 hours now and I only mined 90 coins.  So your POS blocks >>>>>>> any POW costs.

I mined 30 coins and now have over 800 from staking. PoW is only to get coins to start staking, where the real 'mining' happens. Looks like you didnt read the OP.

[ThinkingOutLoud]

Offering 100 GEN Bounty for a block explorer.

[ThinkingOutLoud]

News:

Network is seems to be running smoothly. I haven't noticed any issues since the major forking incident.

With that said, blocks are coming in, on average, every 30 seconds. That explains the forking issue - the huge hash and the rapidly increasing staking difficulty made the network go faster than it could possibly handle. The coin has been trying to fit a POW and a POS block into every minute, and when the forking happened, tons of POS blocks were coming all at once as so many people suddenly had a ton of weight.

Anyway, the network is holding up fine at the moment now that the staking weight is stable. There's no reason to expect any more forking issues at this time. I'm going to be releasing updated wallets sometime in the next day that will schedule a fix for the time issue and make blocks come every minute instead of every 30 seconds. There will be a long lead time to avoid any issues, probably a month. So mining and staking will be accelerated 2x for the next month. Hopefully that will add some interest to the coin, as transactions will confirm very quickly during this time and coins will stake and mine twice as fast.

Thank you all for your interest, your patience, and your time.

[kampretkabur]

wow i left it yesterday with 1k coin inside, n now its out of sync, anything happen?

[ThinkingOutLoud]

wow i left it yesterday with 1k coin inside, n now its out of sync, anything happen?

There was a nasty fork when everyone's coins started getting so much weight and the staking difficulty was so low that everyone's coins were trying to stake at the same time. It was a mess and the coin forked:\

Save your wallet, and delete everything else in your %appdata%/Genstake folder, and reopen your wallet to resync to the network.

Any coins that staked when you were on the fork will be gone, but the coins that staked will have aged a lot and will have a lot of weight, so they will stake again fairly quickly.

[Adderral]

You sure your on the right chain?

Is it forked? Probably just a wallet not synced.

[kampretkabur]

wow i left it yesterday with 1k coin inside, n now its out of sync, anything happen?

There was a nasty fork when everyone's coins started getting so much weight and the staking difficulty was so low that everyone's coins were trying to stake at the same time. It was a mess and the coin forked:\

Save your wallet, and delete everything else in your %appdata%/Genstake folder, and reopen your wallet to resync to the network.

Any coins that staked when you were on the fork will be gone, but the coins that staked will have aged a lot and will have a lot of weight, so they will stake again fairly quickly.

thanks,  i was happy last night coz i got more than 3k, now its all gone, GREAT COIN WITH A GREAT DEV n obviously a GREAT SCAM LOL

[ThinkingOutLoud]

You sure your on the right chain?

Is it forked? Probably just a wallet not synced.

It forked some hours ago. Everyone connected to the network now is on the right chain.

For what it's worth I see 23 connections on the network.