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

[notabeliever]

Heya

Just FYI that we're mining GEN on our multipool: www.xpool.ca and miners have the option to keep their GEN just by entering their GEN address in their user settings.

Cheers!

is that with antminers on sha-256

[saydings]

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[center][url=https://bitcointalk.org/index.php?topic=2408437.0][b]McBET[/b]  Future of sports betting│LIVE ICO│
[center]LIVE ICO
[center]1. ROUND

[crackfoo]

Heya

Just FYI that we're mining GEN on our multipool: www.xpool.ca and miners have the option to keep their GEN just by entering their GEN address in their user settings.

Cheers!

is that with antminers on sha-256

No GenStake is only minable on the scrypt algo.

[ThinkingOutLoud]

Heya

Just FYI that we're mining GEN on our multipool: www.xpool.ca and miners have the option to keep their GEN just by entering their GEN address in their user settings.

Cheers!

is that with antminers on sha-256

No GenStake is only minable on the scrypt algo.

On this multipool Genstake is a coin that they are actively mining and trading for other coins that can't be mined. Gen is not a target coin, though apparently you can elect to keep the Gen you mine. As it turns out, mining Genstake with a block reward of 5 coins is starting to become profitable.

[badam]

Thanks everyone for helping people new to the coin:)

Part of the reason for the selling out was how low the price was compared to the size of the coinbase. Even at 10k Satoshi's we were sitting at a $4,700 market cap. Now, there is 18,000 coins being created every day, BUT 80% of those are staked - meaning that people holding them can't sell them without staking less AND that coins bought on the market and withdrawn for staking also get a piece of that 14400 coin pie. So only about 20%, or 3600, of the coins are distributed to people that may not necessarily be staking - though a lot of miners are.

Holders know that any coins that they sell on the market can ultimately be used to stake against them. Conversely, if they never sell coins then they'll never see a profit.  So the question is, where's the breaking point for people?

I cautiously predict a slow rise of support while buyers slowly try to lure holders into selling. Buyers then become holders themselves, and the cycle repeats.  Dumps over time will be rare, but when there are, a whole lot more people end up with coins, network weight plummets giving people that hold strong a lot of coins, and then it slowly begins to rise again with a lot more people involved with a greater stake in the coin.

And that's just a natural element of the coin outside the work I'm doing on the coin itself right now. It's a bit of a hydra - cut off one head and two more grow back. I can't see it being killed. It can only grow and grow, but that's just my perspective.

With the encouraged staking and thus holding, also with the low POW reward i can see a break even around 100-200K sat and that is still a pretty low marketcap and that still wouldnt be in top 100 coins at marketcap.
There is still place to grow in matter of price

[notabeliever]

Heya

Just FYI that we're mining GEN on our multipool: www.xpool.ca and miners have the option to keep their GEN just by entering their GEN address in their user settings.

Cheers!

is that with antminers on sha-256

No GenStake is only minable on the scrypt algo.

wishful thinking I guess. I have to commend you on a great pool of which I do mine in sha. Keep up the great work.

[nasituygun]

turkish mean is garantili kazık olay baya güldüm ya

[freemind1]

Trying to split my coins for a better stake i lost a lot of local weight stake . So you will learn, they say in my country

[ThinkingOutLoud]

Trying to split my coins for a better stake i lost a lot of local weight stake . So you will learn, they say in my country

Yeah:\ Best to let the coins you have sit unless you've got more than say 500 or so. After that it might be worth sacrificing the weight to break them up. It's a moving target though, in a couple of weeks it might not be worth sacrificing the wight of 700 or 800 coins to break them up. Best practice is to do it right when you get them. Miners have the real advantage here, their coins come in pieces already:)

[crackfoo]

Heya

Just FYI that we're mining GEN on our multipool: www.xpool.ca and miners have the option to keep their GEN just by entering their GEN address in their user settings.

Cheers!

is that with antminers on sha-256

No GenStake is only minable on the scrypt algo.

wishful thinking I guess. I have to commend you on a great pool of which I do mine in sha. Keep up the great work.

Thanks man!

Cheers!

[ThinkingOutLoud]

Added to coinmarketcap.com:) Lots of room to grow!


http://coinmarketcap.com/currencies/genstake/

[zsnorbi]

Added to coinmarketcap.com:) Lots of room to grow!


http://coinmarketcap.com/currencies/genstake/

Great. Finally not a mine-dump-nextone coin that reaches coinmarketcap

[ThinkingOutLoud]

Initial website is live:

http://www.genstake.com/

[vanyabios]

Initial website is live:

http://www.genstake.com/

Nice web page

[johncassa]

Initial website is live:

http://www.genstake.com/

Great work

[GreenDefender]

Initial website is live:

http://www.genstake.com/

like it 

[freemind1]

Great work with the website Dev. Yesterday lost local stake weight but at least today im finding blocks 

[ThinkingOutLoud]

Great work with the website Dev. Yesterday lost local stake weight but at least today im finding blocks 

Awesome gratz!

Thanks everyone for your support for the website:)

[@boutiuqe]

So what next Dev ?

[ThinkingOutLoud]

So what next Dev ?

In the short term continue with marketing and pushing us out there. I've got a guy working on branding and design and I'm working on overhauling the wallet UI and making the use of stealth addresses and the p2p messaging system more practical and easier to use. I've also been reaching out to web developers to work on things like cloud wallets and such so that people can access their coins from anywhere and still be able to stake them. Obviously an android wallet is on the cards but I need to find a developer that specializes in them as it's not exactly my area of expertise.

Later on down the line I'll be working on a desktop QR scanner that'll allow people to use their wallets to scan QR codes to authorize transactions. I've never been too comfortable with URI links - I don't much like a website being able to initiate a transaction in your wallet even if you do have to approve it. With a Desktop QR scanner I believe the process would be more secure and natural if a merchant displays the QR code, buyer opens their wallet, clicks a 'QR Reader' button and moves their mouse to the QR code, which would then create an authorization window in the wallet detailing the transaction information and giving the user the option to approve it or not. It also gets people used to using QR codes, which I hope will make things more streamlined for users of the desktop or mobile wallets when they become available. It's a lot easier for us and the merchants that eventually accept GEN to only have to support one method.

But again, mostly marketing at this point. Getting us out there. It's tough when I feel like I'm the only one tooting our horn out there. People in Genstake seem to be accumulating and staying quiet, people out of it are playing wait and see, and I feel like I'm talking to myself sometimes - which is a little bit frustrating when I see the crazy number of people connected to the nodes and the number of unique visitors hitting the site I just put up.

Anyway, that's the big and small of it. Always looking for talented, trustworthy, and dependable developers, designers, and marketing experts that want to help out with the project;)