[LAUNCHED] Staisybit - Universal Online Staking Wallet

[StaisyBit]

StaisyBit - Universal Cloud Staking Wallet

Introducing Cloud Staking

If PoS is the future of mining, StaisyBit is the future of staking. You no more have to care about wallets updates, sync issues, wallet security. With Cloud Staking you just have to remember your login.
One wallet, multiple accounts. Users will get benefits in keeping their coins on StaisyBit. Indeed, in PoS coins, the probability of generate a PoS block depends on wallet balance; having one wallet for all users, StaisyBit is able to give you the same benefits that a pool gives to PoW miners; in other words, with Cloud Staking you earn more than what you could gain by keeping your coins in your computer.  

PoS is nowadays the most used consensus system. Crypto-world is growing day after day and Alt-Coin communities welcome dozens of new users, of new crypto-enthusiasts, every day. But honestly not all persons are happy to deal with wallets updates, sync issues, forks or even they do not like to leave their computers up for the whole day, or, again, they are not in tune with the functionalities of the QT wallet itself. So, StaisyBit brings staking to everyone, from newbies to experts, from small investors to whales. StaisyBit is for everyone.  


StaisyBit briefly explained
There already are few Companies/Teams whom have released a sort of Cloud Staking recently. They have done a good work, really, i am not here to disparage them. But StaisyBit is something different, it's something more. I am going to list its main features/functionalities, focusing the explanation over the features which make our service new, innovative and user-friendly.

• Coins served:
  we do not give to users a list of coin to stake. Instead, users will give us a list of coins they want to see on StaisyBit. We are willing to host all requested PoS coins, provided they have more than one request and a stable blockchain; also, we will not add coins with less than 1 month of life or without a block explorer.
  
  
• User experience:
  you can think at StaisyBit as an online staking wallet. An easy to use interface gives to users a complete overview of each coin they own: balance, coins staked, general blockchain data (block height, connections, PoS diff), transactions. All our efforts in these almost 7 months of development were focused on the user experience. Also, each wallet has a section "News" where we put the links to every coin-related web site: bitcointalk forums, exchanges, block explorers, official website and, obviously, our Cloud Staking charts. On StaisyBit you have all what you need to manage your coins and make investment decisions, just in one html page.
  
  
• Wallet functionalities:
  each user has his specific address. You can send coins to that address whenever you want, the amount will be added to your funds as soon as the transaction is confirmed. You can withdraw your funds, whenever you want. Also, generated coins will be added to your account as a credit, as soon as they are confirmed by the blockchain.
  
  
• Security:
  the web server will be entirely covered by SSL. Also, we recommend the use of 2FA. We have chosen Authy, a company which provides 2FA services through a smartphone app and a Google Chrome app, as well as through SMS and Voice Calls.
  
  
• Fees:
  Fees are set as follow:
  
  
  • Deposits: 0.25%
  • Withdrawals: 1%
  • Staking: 5% (before say "hey, 5% is too much!!", please read more about how staking fees are shared among all users)

Technical notes

• Staking fees: guess what, users share fees too
  Staking fees (5%) are applied on the value of the block generated, therefore the fee itself is shared among all the participants, ensuring a very lower impact on the single one. An example with numbers is here.
  
  
• Single-node and Multi-node Cloud Staking
  The actual staking process is done by only one wallet for each coin. To avoid issues on the blockchains, we will set a limit: StaisyBit's wallets can hold, at most, the 30% of total supply of each coin.
  To be honest, we have developed and tested a multinode Cloud Staking system, which would allow us to spread funds over different nodes, but it dramatically increases costs; hence, we may be able in the future to move from a single-node to a multi-node system, but it will depend on the cash flows size of this business.
  
  
• Cloud Staking sharing system
  "One wallet, multiple accounts" needs a well designed sharing system, the core of StaisyBit's functionalities. Shares are calculated as shown below, and updated every 20 minutes (or when the system detects a withdrawal or a deposit).
  The system calculates the weight of each user. The math used is similar to MWRR (money-weighted rate of return). An example:
  
  (i have replied to a question here, that's a good example)

Future features/development roadmap


There are lot of features we are going to add, once (and in case that...) StaisyBit will reach a substantial amount of users/cash flows. Here are some of those features:
- automatic withdrawals of staked coins, once credited/confirmed
- buy/sell directly from StaisyBit's online wallet through APIs, on exchanges where this is possible
- chat as way to communicate with others online users or Admins.
- Application for MobilePhones . This will finally bring the wallets of all cryptocoins to mobile users lovers


Make a donation


To everyone:
We are proud to say that this project has been funded by us so far. Almost 1 year of development and production phase required a lot of funds. If you like our project and want to contribute to its development, just send here 33YMZdX4MrKzJeEKejZ7w1QDGNT8xXrMvx your contribute and send us your e-mail via private message. Of course, when StaisyBit will be online we'll remember your goodness.
Thank you.

To coin developers/communities:
Staisybit servers (3 at the moment) will act as 24/7/365 nodes, contributing both to securing the network (staking) and to improving network connections. Therefore, we'd appreciate to receive donations from developers (or communities) of all currencies we serve. Donation amount is your choice, even if we usually agree for a donation of 0.2/0.3 BTC, which seems fair considering that a single node costs at least 40 $/year , while Staisybit offers 3 nodes to be paid only once. Address for donations is 33YMZdX4MrKzJeEKejZ7w1QDGNT8xXrMvx .
Thank you.


Official WebSite and Social


Web Wallet staisybit.com
API documentation api.staisybit.com (not ready yet)
Reach us on twitter at @staisybit.
Support support@staisybit.com


SIDE NOTE: this is not a self-moderated thread, hence: we accepts critics and suggestions, as well as questions and clarifications. But we do not accept fools, FUDs or offensive statements to StaisyBit, at least before launch. Also: this is not a coin, this is a service. No ICO/IPO here. Do not ask for launch date. Do not ask for pictures (by the way, we are uploading to an Imgur album some pictures).

[usecoin]

seems promising. Waiting to know pricing strategy i have bookmarked this
could you explain better the shares calcs?

[StaisyBit]

seems promising. Waiting to know pricing strategy i have bookmarked this
could you explain better the shares calcs?

Of course.
Firstly you need to understand which is the need, which is the problem to solve. Let's do it with an example:

There are three users: A, B and C.

- A deposits 100 today at 12:00am, B to the same. Hence, total wallet balance is 200.
- Assume that in one day 200 coins generate 2 coins.
- Tomorrow at 11:45am user C deposits 200.
- At 12:00am the wallet generates 2 coins.
- If the calcs would based only on the amount deposited, User A receives 0.5 coin (25%), User B receives 0.5 (25%), User C receives 1 (50%)

As you can understand, this is not fair for two reasons:
1) User A and User B have paid one day of Cloud Staking service, Users C has paid 0 days. If you replicate this scenario for 30 days, you will understand that User A and B would never get benefits from Cloud Staking, or even they get disadvantages.
2) As you know, in PoS coins the mining process is based on your balance. But, probably not all people know this, balance is not the only variable taken to calculate your weight in coin's net. Indeed, QT/C++ wallets do the same calcs i have explained in the Open Post: wallets weight is based on 1) your balance 2) the time that balance passed (untouched) into the wallet.

Now that you got the point, understand the math is easy:

- assume that t1, t2, t3, .... , tN are the time of each cash flow
- assume that cf1, cf2, cf3, ...., cfN are the amounts of each cash flow
- take the time of the first deposit (t1) of the user and do the difference between t1 and t2. Call the result "TimeFrame_1". In TimeFrame_1 we are sure that the balance of the user has not been touched. Now multiply it for the amount of coins deposited (cf1) => cf1 x TimeFrame_1 = w1.  The result you get is a number (which does not have a unit, a measure) which represents in numbers "the X amount which has been kept for T time", where X = cf1 and T = TimeFrame_1.  Call it "w1".
- now take the cf2 and do the same. Assume that cf2 is a withdrawal instead of a deposit. Math is still math:  t3 - t2 = TimeFrame_2 .  (cf1 -cf2) x TimeFrame_2 = w2. What w2 is? It is "X amount which has been kept for T time", where X = (cf1 - cf2) and T = TimeFrame_2.
- and so on until the end. Then do the sum of w1, w2, w3, .... , wN. That is the total weight of a certain user. Call it "TW_user_1"
- now do the sum of TW_user_1, TW_user_2, TW_user_3, ..... , TW_user_N . That's the total weight. That's the allocation base. Call it "AB"
- Finally, get the shares: TW_user_1 / AB % ; TW_user_2 / AB % ; TW_user_3 / AB % ..and so on..

Cheers

[usecoin]

Still a 'bit of mess in my head, but i got the problem to solve, the need.. and you are right so i guess you have well managed the issue. any concrete things to see or still developing locally ? 

[StaisyBit]

Still a 'bit of mess in my head, but i got the problem to solve, the need.. and you are right so i guess you have well managed the issue. any concrete things to see or still developing locally ? 

soon. we're also creating a twitter account to start spread the word

[Argwai96]

maybe a few user interface screen shots could help draw some attention to the project and some donations, good work so far.

[StaisyBit]

maybe a few user interface screen shots could help draw some attention to the project and some donations, good work so far.

Sure. You are right, we will post here the link to an Imgur album soon. And thank you.

You can now visit the official web site. More info will be added to "Our Service" section in next days.

We are also on Twitter. Please, follow us.

Cheers

[StaisyBit]

maybe a few user interface screen shots could help draw some attention to the project and some donations, good work so far.

We've just published an album with some pictures. I want to point out that the coin you will see in these pictures has been built by us just for tests purposes. The name of the is, obviously, Staisycoin, but it is not in any way related with the Cloud Staking service or with our project.

Imgur album here!


Let us know what you think. If you like us, please consider to follow us on Twitter. Thank you.
Cheers

[StaisyBit]

IMPORTANT!

Opening StaisyBit-beta to public

We are going to open StaisyBit in next days, releasing a beta/test version of the service. We'll run two SPc (special purpose coins), no wallets will be provided. Users will be able to register and create deposit addresses. To fund your accounts just contact us asking some coins and we'll deposit funds. You will also be able to withdraw, but it'll be done by us and coins will be sent to a public online-wallet.

StaisyBit-beta will stay online for an undefined time frame, it basically will depend on how much information we are able to gather. Indeed, gather useful data is the main goal of this beta release.

Obviously, it's free. We will be grateful to all those who will participate.

Stay with us on Twitter and check here for updates.

Cheers

[StaisyBit]

UPDATE

We got in touch on Twitter and on BitcoinGarden with Coin of the Magi developers in past days. They have expressed interest in being added to StaisyBit.

Hence we can say that StaisyBit will serve Coin of the Magi (short code XMG) since launch!

Please retweet the news: tweet's link.

Cheers

[Altynbekova]

god joob staisybit,
I have magi coin,  & i will stake in stiasybit

[StaisyBit]

god joob staisybit,
I have magi coin,  & i will stake in stiasybit

Thank you for you feedback. We are happy to serve Magi, it has good developers and a large community which supports their work.

Follow us on Twitter.

[StaisyBit]

UPDATE

While we are getting all ready for the open beta, we are also monitoring markets and contacting crypto coins developers to figure out which may be the firsts coins served by Staisybit. Please do not hesitate to give us the name of your desired coin(s).

Remember to consider a donation, address in OP.

Follow us in Twitter.

[StaisyBit]

UPDATE

We are working hard to launch the beta within the end of July, as promised.

Meantime we have set up "institutional" stuffs, like, for example, the mail server. You can now contact us at info@staisybit.com . We are also organizing a promo/marketing campaign and, after significant "wallet's efforts", you will see some press releases about Staisybit, before the launch of the stable version.

We'd want to renew to follow us on Twitter and to consider to make a donation, if you like the project, at our BTC address: 3N11H1BRbNZkUviPxBuDHu1VRXi1N5AZmk . Donors will get a month (or more) of free service, depending on the amount donated.

Stay with us.

Cheers

[111magic]

UPDATE

We got in touch on Twitter and on BitcoinGarden with Coin of the Magi developers in past days. They have expressed interest in being added to StaisyBit.

Hence we can say that StaisyBit will serve Coin of the Magi (short code XMG) since launch!

Please retweet the news: tweet's link.

Cheers

That's awesome guys! Keep up the good work!
Together we can achieve more!

[StaisyBit]

UPDATE

We got in touch on Twitter and on BitcoinGarden with Coin of the Magi developers in past days. They have expressed interest in being added to StaisyBit.

Hence we can say that StaisyBit will serve Coin of the Magi (short code XMG) since launch!

Please retweet the news: tweet's link.

Cheers

That's awesome guys! Keep up the good work!
Together we can achieve more!

Thank you for your support 

[goosoodude]

This sounds like a good idea. Though i strongly would suggest that you are open with everything you do. Show the addresse with the coins and all so that potential investors know that you really hold the coins. It might even possible, for big investors, that you send their coins to a multi signature address. The coins only need to lay down there until they need to move. And the investor could help moving them when its needed. That way the investor could be sure that you don't run with his investment.

At least that is something i would like.

[StaisyBit]

This sounds like a good idea. Though i strongly would suggest that you are open with everything you do. Show the addresse with the coins and all so that potential investors know that you really hold the coins. It might even possible, for big investors, that you send their coins to a multi signature address. The coins only need to lay down there until they need to move. And the investor could help moving them when its needed. That way the investor could be sure that you don't run with his investment.

At least that is something i would like.

Thank you for your support.

The idea of a multi-sign address, even if theoretically right and understandable, is quite hard to get, at least for the moment. As per the staking and withdrawals systems have been programmed, we can't have one address per user into the main wallet for many reasons, some of which are even related with the C++ wallet itself. Also, and this has been tested in these months by me, wallets with much addresses and much transactions may become unstable. This would mean periodical maintenance, with consequent shifts of coins from one wallet to another (what is more, a process that we need anyway, once a while).

However, i completely agree with you in keep all things as much transparent as possible. We will build confidence day after day.

Thank you again, for your interest and your constructive post. Appreciated.

Follow us on Twitter.

[joel_]

Interesting proposal!

I would like to clarify some things concerning your service (forgive my ignorance):
1) How would you differentiate your service from already successful similar managed staking - Stakeminers.com ? - what's your niche ?
2) will your service be actively managed by you, or you will just offer interface to customers to stake their coins as a group without your interference ? (if so - who will manage e.g. block structuring for efficient staking for those coins that support it ?)
3) So basically - you will be:
  A. accepting customers altcoins for staking ? OR
  B. bitcoins deposits, that will be exchanged by you into chosen staking coins ?
  C. Both
4) What's with the contracts ? Why not call it monthly fee and set a rate depending on consumed resources ?
5) Withdrawal - you say, that customer may withdraw anytime - but that will surely have impact on others staking in that particular wallet at that time. Seems like there should be better system in place so as to minimize looses for stakers that will remain staking after someone withdrawing their coins...
6) formalities:
- who are you guys ? Maybe a little introduction, why you do it, what you have done and when do you see this service growing in 6-12months - after all, people will be sending you their coins for staking...
- do you plan to form a legal company ?
- where will you host - will you be hosting just on rented VPS's or do you own your servers ?
- what's in place for securing staking wallets (avoiding hacking attempts)?

Also - let us know, when we'll be able to sign up/login to see what in store on front end part.

Thank you very much for your reply and good luck with the beta! Looking forward to trying your service.

[StaisyBit]

well.. i like to see interested guys ..

Before reply to your questions, i'd like to point out some of my (ours) thoughts about the creation of Staisybit and the Alt-coin world in general. These are all important things that you need to understand in order to understand the differences between the other Cloud Staking services (Stakeminers and GorillaStake, basically).

1) Staisybit doesn't work in the way "send us a BTC - we buy only super high interest (and then inflation) currencies with your BTC - we send you back the coins mined with your BTC" . Nope. We allow customers to send us their altcoins, we will mange/stake them until they want/need to withdraw their funds.

2) As per the point above, the customers (all together) will decide which currencies will be served. This is of primary importance for our purposes. We are trying to give to the Altcoin world a new, innovative and useful service and, last but not least, we want to support altcoins giving to their communities not just a PoS pool, but also a place where people feels the power of a certain altcoin. we want to build a community beyond Staisybit.

3) We do not serve just high interest currencies. We want to support all coins. Customers will be free to list new currencies (we only check the minimum of 1 month of life and the existence of a block explorer). High interest currencies are mined on Stakeminers or GorillaStake because all their funds/payouts are BTC-based. Allow to stake just high interest coins means give to people just another way to earn a 'bit, with no cares about the value added of a currency, of a community, of good developers. I would also say that those high interest currencies have a short life imho.

4) As per point 2), one obvious consequence is that Staisybit will rely on crypto currencies' developers. Direct relationships with developers, with their communities. We want to create a "value added" around Staisybit, not just a PoS pool.

5) Since we want to support altcoins, i want also to mention the dumpers problem. A service like Stakeminers (which receives BTC, buys altcoins, stake, sell altcoins and gives back BTC), inevitably means dump all funds and staked coins. While Staisybit, being an online staking wallet (it means that you have a wallet interface like any other online wallet, for example dogecoin online wallet or even bitcoin's ones), allows you just to withdraw altcoins. In truth, it is right to think that most of these withdrawals will be to an Exchange, but they could also be to another altcoin user, to a faucet, etc, etc.

Unfortunately, this is not my first language, therefore explain complex thoughts/feelings/ideas is not so easy. Please, feel free to ask more if something is not clear.

However, I hope that after this brief explanation of our purposes, you now appreciate and feel what is the worth of Staisybit in our mind, and you understand which are the differences between Staisybit and the other Cloud Staking services (which are, in less words: our efforts will be not only focused on users' earnings; earnings is not the only "value added" that business may create).


Now i can reply to your questions point-to-point:

1) How would you differentiate your service from already successful similar managed staking - Stakeminers.com ? - what's your niche ?

see above

2) will your service be actively managed by you, or you will just offer interface to customers to stake their coins as a group without your interference ?

I'm not sure i got the point, i can't understand how we could "just offer interface to customers to stake their coins" without "actively manage" them. But i try to reply: yeah the service will be actively managed by us.  It's not just send/receive transactions to a staking wallet, as you can understand is a 'bit more complex. Also, as per we designed the whole system, staking wallets are subject to periodical "maintenance" (but i can't say too much about it now). about the "block structuring", i have never heard this term, but i know what you mean with efficient staking. However, the "interface" you mentioned is meant to be used as an online wallet, hence to see transactions, to send coins, etc etc.

3) So basically - you will be:
  A. accepting customers altcoins for staking ? OR
  B. bitcoins deposits, that will be exchanged by you into chosen staking coins ?
  C. Both

We will be accepting customers altcoins for staking. And we'll allow withdrawals in altcoins. Nothing less, nothing more. No bitcoins deposits will be accepted.

4) What's with the contracts ? Why not call it monthly fee and set a rate depending on consumed resources ?

We called it "contracts" because it sounds more like "we are buying a service", but actually they are just monthly fee based on the number of wallets you are using. We'll accept BTC at launch, others "big" currencies later.

5) Withdrawal - you say, that customer may withdraw anytime - but that will surely have impact on others staking in that particular wallet at that time. Seems like there should be better system in place so as to minimize looses for stakers that will remain staking after someone withdrawing their coins...

We are testing the back end since April. I can ensure you that the funds/staking/withdrawals system works properly and efficiently. If you want more information about it, pm me or email to info@staisybit.com.

6) formalities:
- who are you guys ? Maybe a little introduction, why you do it, what you have done and when do you see this service growing in 6-12months - after all, people will be sending you their coins for staking...
- do you plan to form a legal company ?
- where will you host - will you be hosting just on rented VPS's or do you own your servers ?
- what's in place for securing staking wallets (avoiding hacking attempts)?

You are right, but this is just a PRE-ANN, we are releasing a beta for the end of July. All information about us will be available at http://staisybit.com and We'll soon present our team also here.

About the legal company: yeah, we are going to form it. But for sure, not for the launch. Here (Italy) expected costs to form a legal company are around 8000-9000 dollars, and i am talking of costs, not amount to be invested. To do such an operation we have to be sure that we can cover start-up costs and that Staisybit can have a min time frame of life. We really think so, but a legal company (in particular here in Italy, where we have overwhelming fiscal and civil laws for companies) is not something you can bet on, we need to be 100% sure of what we are doing.

The reply is in the middle. We will not buy servers and place them in a factory, and We will not just rent a VPS. We will rent a private infrastructure (more than one server, firewalls, private networks, etc, etc) from a well known and professional company. Web Server will be located in U.S.A.

About security: i can't say much about it here, but it's obvious that security is where we focus our efforts. Security of the staking wallets is a requirement for the service we are going to provide.


Thank you for your constructive post. If there's something not clear, feel free to ask more.
You can contact us at info@staisybit.com.