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

[ocminer]

One miner did not yet withdraw his funds, he mined a lot, i cannot simply 'burn' his coins.

I wrote him a email and I hope he will withdraw soon so that the pool loses the weight finally

[ktfutura]

Well, the solution, as usual, is to spread the hash around. After a day any coins that don't stake get clumped together in 1k chunks anyway, which will kill his weight and allow everyone else to stake. So the fewer blocks that get mined at his pool, the fewer coins that get fed into the machine, the less weight he has, the more everyone else catches up.

Hmm. You know what would really help this network? A p2p pool. That way mined coins would go directly into your wallet instead of sitting in a pool, and it would break up the blocks into pieces, which would allow miners to increase their weight over time.

dev, do some math. he staked 2k in a few hours.

PoW coins are competing with PoS coins for blocks.

scam pool needs to burn stakes.

i have less than 200 coins. not even worth my time. i've wasted my time when shit pool out stakes me in 30 mins worth of staking.

i have only made 1 block from staking 24/7 for days. this is really shit.

[ktfutura]

One miner did not yet withdraw his funds, he mined a lot, i cannot simply 'burn' his coins.

I wrote him a email and I hope he will withdraw soon so that the pool loses the weight finally

PoW block rewards were 1. burn your thousands of 20 coin stakes. you killed this coin.

fuck you scam pool. i used BTC to try and invest in this coin.

fuck your double dipping. taking % of PoW coins and taking stakes.

[ocminer]

One miner did not yet withdraw his funds, he mined a lot, i cannot simply 'burn' his coins.

I wrote him a email and I hope he will withdraw soon so that the pool loses the weight finally

PoW block rewards were 1. burn your thousands of 20 coin stakes. you killed this coin.

fuck you scam pool. i used BTC to try and invest in this coin.

fuck your double dipping. taking % of PoW coins and taking stakes.

I did not even sell, move or touch ONE coin and I'm not planning to do so, I think the coins are safer at my pool than elsewhere

And BTW, staking IS turned off:

{
    "reserve" : true,
    "amount" : 999999.00000000
}

[GreenDefender]

(only) for newbies to this coin.
I mined around 100 GEN @ OCs pool and bought around 500 GEN from several trustfully members of this community.
Now after after building some stake weight (during 12h) and halved stake netweight i get stake blocks nearly every 2 hours.
So this coin works fine for me and is supported by a serious dev - just my 2 cents

[jc12345]

A bit from the side, but is there a way to get hold of the altexplorer.info guy? I see Genstake is using them.

[ThinkingOutLoud]

Mandatory Update to version 1.0.2
Everyone must update before block 10000


We're still having minor forking issues, so I've been testing a fix that has now been released on the network. Since part of the fix requires a hardfork, I've taken the opportunity to incorporate ideas from the community and fix some other nagging issues while I was at it. Everything has been tested on the current network. Here are the changes:

Minimum Coin Age has been increased to 4 hours.
POW Block rewards have been increased from 1 GEN to 5 GEN
Block Spacing Fixed to achieve 1 minute blocks
Reduce stake combiner to 100 coins
Coins older than 8 hours will not split
Eliminate Enhanced Weight Accumulation

These changes will become effective immediately after block 10000. Everyone must upgrade in order to remain connected to the network.

In the meantime, forking issues should still be reduced by other adjustments that do not require a fork and are effective immediately.

Please download/recompile a new wallet and make sure that your block height matches the block explorer:

Wallets:
Windows
Mac OS X

Explorer:
http://gen.altexplorers.info:3011/

[ocminer]

Mandatory Update to version 1.0.2
Everyone must update before block 10000


We're still having minor forking issues, so I've been testing a fix that has now been released on the network. Since part of the fix requires a hardfork, I've taken the opportunity to incorporate ideas from the community and fix some other nagging issues while I was at it. Everything has been tested on the current network. Here are the changes:

Minimum Coin Age has been increased to 4 hours.
POW Block rewards have been increased from 1 GEN to 5 GEN
Block Spacing Fixed to achieve 1 minute blocks
Reduce stake combiner to 100 coins
Coins older than 8 hours will not split
Eliminate Enhanced Weight Accumulation

These changes will become effective immediately after block 10000. Everyone must upgrade in order to remain connected to the network.

In the meantime, forking issues should still be reduced by other adjustments that do not require a fork and are effective immediately.

Please download/recompile a new wallet and make sure that your block height matches the block explorer:

Wallets:
Windows
Mac OS X

Explorer:
http://gen.altexplorers.info:3011/

Updated

[ThinkingOutLoud]

Thanks OC, you're awesome!

A bit from the side, but is there a way to get hold of the altexplorer.info guy? I see Genstake is using them.

Sorry for the late reply, the block explorer is being run by lin0sspice

[jc12345]

Thanks OC, you're awesome!

A bit from the side, but is there a way to get hold of the altexplorer.info guy? I see Genstake is using them.

Sorry for the late reply, the block explorer is being run by lin0sspice

Ok thanks.

[ktfutura]

I hate to agree, I really do, but unless the top holder comes forward and either dumps or sells off about 70% of their holdings to a dozen or so other people, the future of the coin is grim. There's not much I, or any one else can do to stop it at this point.

Hopefully the holder does do something though, because unless they significantly reduce or redistribute their holdings to other people, then their coins wont be worth anything. I'm sorry to say, Genstake just can't survive with any single person holding over 50% of the coinbase.

is ocminer going to burn the 10's of thousands of coins he staked or not?

[ocminer]

I hate to agree, I really do, but unless the top holder comes forward and either dumps or sells off about 70% of their holdings to a dozen or so other people, the future of the coin is grim. There's not much I, or any one else can do to stop it at this point.

Hopefully the holder does do something though, because unless they significantly reduce or redistribute their holdings to other people, then their coins wont be worth anything. I'm sorry to say, Genstake just can't survive with any single person holding over 50% of the coinbase.

is ocminer going to burn the 10's of thousands of coins he staked or not?

I mined some myself after launch and I am holding them, but for the sake of freedom i'll burn some if that frees your mind

[kubuminer]

Mandatory Update to version 1.0.2
Everyone must update before block 10000


We're still having minor forking issues, so I've been testing a fix that has now been released on the network. Since part of the fix requires a hardfork, I've taken the opportunity to incorporate ideas from the community and fix some other nagging issues while I was at it. Everything has been tested on the current network. Here are the changes:

Minimum Coin Age has been increased to 4 hours.
POW Block rewards have been increased from 1 GEN to 5 GEN
Block Spacing Fixed to achieve 1 minute blocks
Reduce stake combiner to 100 coins
Coins older than 8 hours will not split
Eliminate Enhanced Weight Accumulation

These changes will become effective immediately after block 10000. Everyone must upgrade in order to remain connected to the network.

In the meantime, forking issues should still be reduced by other adjustments that do not require a fork and are effective immediately.

Please download/recompile a new wallet and make sure that your block height matches the block explorer:

Wallets:
Windows
Mac OS X

Explorer:
http://gen.altexplorers.info:3011/

@BinPool - update

[ktfutura]

I hate to agree, I really do, but unless the top holder comes forward and either dumps or sells off about 70% of their holdings to a dozen or so other people, the future of the coin is grim. There's not much I, or any one else can do to stop it at this point.

Hopefully the holder does do something though, because unless they significantly reduce or redistribute their holdings to other people, then their coins wont be worth anything. I'm sorry to say, Genstake just can't survive with any single person holding over 50% of the coinbase.

is ocminer going to burn the 10's of thousands of coins he staked or not?

I mined some myself after launch and I am holding them, but for the sake of freedom i'll burn some if that frees your mind

Dev this is a real shame. I see you have put out some updates but this coin distribution has no hope.

I suggest you launch a new coin.

No salvaging this one.

[ocminer]

I hate to agree, I really do, but unless the top holder comes forward and either dumps or sells off about 70% of their holdings to a dozen or so other people, the future of the coin is grim. There's not much I, or any one else can do to stop it at this point.

Hopefully the holder does do something though, because unless they significantly reduce or redistribute their holdings to other people, then their coins wont be worth anything. I'm sorry to say, Genstake just can't survive with any single person holding over 50% of the coinbase.

is ocminer going to burn the 10's of thousands of coins he staked or not?

I mined some myself after launch and I am holding them, but for the sake of freedom i'll burn some if that frees your mind

Dev this is a real shame. I see you have put out some updates but this coin distribution has no hope.

I suggest you launch a new coin.

No salvaging this one.

Distribution has Changed a lot since everyone started staking and as already said i will be holding, not selling, so the Situation imho  could be worse. For other big wallets you dont know who is behind them, i have no interest dumping even one of my mined coins yet.

[ThinkingOutLoud]

I'll be the first to admit it's been a bumpy start, but I've set a course for the coin that I believe will heal the damage and put it back on track.

Because the coins in Genstake generate over a long period of time, these initial bumps in the road aren't as harmful as they would have been in a POS coin with a limited POW run.

ktfutura, I appreciate your input and your concern, but if you truly do think that this coin has no future under the current circumstances, I kindly ask you to move on. I welcome you, and everyone, to take part in Genstake moving forward, but attacking ocminer and getting bent out of shape about his coins isn't helping anyone.

As for the current arrangement of top holders, well that's all up for grabs again. From tomorrow on, while stakers have to compete with every other coinholder for coins, miners will only have to compete with eachother. Now that 20% of the entire coinbase is going to be released through POW, that's a big deal, and if stakers want to maintain their positions over time then they're going to need to jump in and mine too from time to time, otherwise other dedicated miners are going to rise to the top as they gain weight on the staking network with their mined coins.

I can't see the future, and I don't know what will happen. Anyone that doesn't see themselves happy with the direction this coin is taking from here on in is welcome to move on to something else.

As for ocminer, I consider it a happy accident of circumstances. Ultimately, the reason ocminer got those coins is because he runs one of the most highly respected pools in altcoins, and people have chosen to continue mining with him even after he requested that I drop his pool as an official pool. When Genstake was forking and I wasn't around, he was one of the people that stepped in to keep the coin together. I've seen him do the same on countless other coins. I don't think there was any malicious intent on his part and I don't think he was trying to gain some unfair advantage over others. This coin is different, and circumstances transpired that gave him a large stake in the coin, and since then he has manipulated them in such a way that he no longer has any advantage from them on the network. I highly respect that from him. But the point I'm trying to make here is that things happened, and fate put those coins in his hands, and given all that he's done over the years and his integrity, frankly, I'm honored that he has a significant stake in Genstake.

Anyway, that's my 0.02 cents.

[ktfutura]

I'll be the first to admit it's been a bumpy start, but I've set a course for the coin that I believe will heal the damage and put it back on track.

Because the coins in Genstake generate over a long period of time, these initial bumps in the road aren't as harmful as they would have been in a POS coin with a limited POW run.

ktfutura, I appreciate your input and your concern, but if you truly do think that this coin has no future under the current circumstances, I kindly ask you to move on. I welcome you, and everyone, to take part in Genstake moving forward, but attacking ocminer and getting bent out of shape about his coins isn't helping anyone.

As for the current arrangement of top holders, well that's all up for grabs again. From tomorrow on, while stakers have to compete with every other coinholder for coins, miners will only have to compete with eachother. Now that 20% of the entire coinbase is going to be released through POW, that's a big deal, and if stakers want to maintain their positions over time then they're going to need to jump in and mine too from time to time, otherwise other dedicated miners are going to rise to the top as they gain weight on the staking network with their mined coins.

I can't see the future, and I don't know what will happen. Anyone that doesn't see themselves happy with the direction this coin is taking from here on in is welcome to move on to something else.

As for ocminer, I consider it a happy accident of circumstances. Ultimately, the reason ocminer got those coins is because he runs one of the most highly respected pools in altcoins, and people have chosen to continue mining with him even after he requested that I drop his pool as an official pool. When Genstake was forking and I wasn't around, he was one of the people that stepped in to keep the coin together. I've seen him do the same on countless other coins. I don't think there was any malicious intent on his part and I don't think he was trying to gain some unfair advantage over others. This coin is different, and circumstances transpired that gave him a large stake in the coin, and since then he has manipulated them in such a way that he no longer has any advantage from them on the network. I highly respect that from him. But the point I'm trying to make here is that things happened, and fate put those coins in his hands, and given all that he's done over the years and his integrity, frankly, I'm honored that he has a significant stake in Genstake.

Anyway, that's my 0.02 cents.

yes i thought ocminer was more respectable. how fortunate for him that you love him so much.

but after seeing he pretty much attacked this coin by using the coins and stake weight of others that have paid to mine at his pool. that is not right.

as he writes "i have no interest dumping even one of my mined coins yet".

he can't dump because there is no market.

i am already out and have moved on. i suggest you do the same with a new coin with revised specifications and proper distribution, no fucked up forks from the start. i can support that new coin.  you can even relaunch this coin.

[@boutiuqe]

There is no mistake from OC
I rather mine at minerpool, suchpool and kinda slow now from ispace.
But OC )
What kind of pool that promoted a coin ?

[vegasguy]

There is no mistake from OC
I rather mine at minerpool, suchpool and kinda slow now from ispace.
But OC )
What kind of pool that promoted a coin ?

Im dont see anything wrong if a pool operator gives an opinion that he likes a coin. Pool operators also have the right to mine coins if they like. I DO feel its very unethical if a pool operator uses unclaimed coins to stake as THAT is a MAJOR advantage as that pool operators wallet will get near all POS blocks. Not saying OC did anything, because I dont know. just adding my 2 cents.

Vegas

[@boutiuqe]

There is no mistake from OC
I rather mine at minerpool, suchpool and kinda slow now from ispace.
But OC )
What kind of pool that promoted a coin ?

Im dont see anything wrong if a pool operator gives an opinion that he likes a coin. Pool operators also have the right to mine coins if they like. I DO feel its very unethical if a pool operator uses unclaimed coins to stake as THAT is a MAJOR advantage as that pool operators wallet will get near all POS blocks. Not saying OC did anything, because I dont know. just adding my 2 cents.

Vegas

Let me make it clear :

1% of pool fee is not enough ?
He use it to stake the coin is not right.
Ex : if all miner mining coin at his pool he will get 1% of total coin + the stacking at begin, that is huge amount of coins , not just couple coins.
As far now i see he only promote or tweet about couple coins , that he maybe or i may guess created a coin to pump.
Look back couple coin he added and tweet about exchange.
Pool operator should or will not do something like that.

That is my feeling, so take it easy , no harm to him but I am just saying what I am really seeing now.