[ANN][STEPS] Let's make a new altcoin environment

[andrepierre]

how many more steps will be produced by the time the big block rewards are over and it moves to 1% interest each year?

As discussed previously this is a long term project and we do not plan to leave the project.

[Frogman]

how many more steps will be produced by the time the big block rewards are over and it moves to 1% interest each year?

As discussed previously this is a long term project and we do not plan to leave the project.

i dont doubt that at all. what does that have to do with the question i asked?

[Tortoise75]

Well, I'm not exactly sure what you're asking. If you're asking how many coins will be minted after block 60100 it can't be answered because to name a fixed amount of coins would require a set date or block number marking the end of the development of the coin. Since this is a long term project there are no plans for such an end date and therefore the answer would be an unknown number of coins between a lot and infinite.

If you're asking how many coins the PoS mints during the stepped phase ending with block 60100 the answer is already in the ANN. About 9.3 million coins, or roughly doubling the amount of coins put into circulation by the ICO.

[AltcoinSteps]

how many more steps will be produced by the time the big block rewards are over and it moves to 1% interest each year?

from this point up to block 60100, around 8.8M STEPS will be generated, but that should not be considered as real value by then because we are also going to burn some coins

[andrepierre]

how many more steps will be produced by the time the big block rewards are over and it moves to 1% interest each year?

As discussed previously this is a long term project and we do not plan to leave the project.

i dont doubt that at all. what does that have to do with the question i asked?

My sincere apologies I responded to someone else, altcoinsteps already answered your question.

Thank you for supporting Steps.

[ReturnOfTheMAC]

Well, I'm not exactly sure what you're asking. If you're asking how many coins will be minted after block 60100 it can't be answered because to name a fixed amount of coins would require a set date or block number marking the end of the development of the coin. Since this is a long term project there are no plans for such an end date and therefore the answer would be an unknown number of coins between a lot and infinite.

If you're asking how many coins the PoS mints during the stepped phase ending with block 60100 the answer is already in the ANN. About 9.3 million coins, or roughly doubling the amount of coins put into circulation by the ICO.

I would add to that that the inflation level considered desirable for all stable western economies tends to be around 3%. 1% inflation for this coin after POS ends is actually on the low side (but not bad by anymeans). Growth will still occur provided the price is high enough to make .3 STEPS or whatever sum you receive for staking at this time worth while.

As the developers have said - a service that will be VERY desirable will accept payment in Steps and burn a portion of that or all of depending on the creators. With this in mind it will likely result in much less than 1% more Steps being minted each year, may even burn more than we mint!

[ReturnOfTheMAC]

Here is something to help people get their heads around why STEPS is such a good investment now - rather than tomorrow.

The following figures were calculated based on the following:
- Starting supply of 100,000 coins.
- An average of 3 blocks per day will be found.
- On average each block reward last for 7 days.
- The total time for Dynamic POS from today is 5.5 Months or there abouts.
- The average price per steps is taken at a very conservative 1500 satoshi for the entire period.


Block reward   Approx stake    BTC value

70      1,470      0.02205

80      1,680      0.0252

90      1,890      0.02835

100      2,100      0.0315

110      2,310      0.03465

120      2,520      0.0378

130      2,730      0.04095

140      2,940      0.0441

150      3,150      0.04725

160      3,360      0.0504

170      3,570      0.05355

180      3,780      0.0567

190      3,990      0.05985

200      4,200      0.063

210      4,410      0.06615

220      4,620      0.0693

230      4,830      0.07245

240      5,040      0.0756

250      5,250      0.07875

260      5,460      0.0819

270      5,670      0.08505

280      5,880      0.0882

290      6,090      0.09135

300      6,300      0.0945

Total Steps staked if starting with 100,000 coins TODAY = ~93,240

Total value in bitcoin of those steps at 1500 sat = 1.3986 BTC


This is a LOW estimate - this is assuming the price doesn't improve and stays at 1500 sat for 5.5 months. This will obviously not be the case but take this as a worst case scenario. At worst, you will make 1.3986 BTC in 5.5 months of staking 100,000 STEPS. At best probably 10 times this figure If you waited until the end of DPOS before selling any of your stakings.

These figures also do not take account of compounding staking interest and the fact that your staked coins stake as well - typically your share of the blocks will increase over time the longer you hold, you may be up over 4 blocks or more per day in the later stages of DPOS.

I have provided this merely as an explanation for the confidence shown by myself and others in buying large amounts of this coin and holding it long term.

Good luck!

[grizzelbeard]

Here is something to help people get their heads around why STEPS is such a good investment now - rather than tomorrow.

The following figures were calculated based on the following:
- Starting supply of 100,000 coins.
- An average of 3 blocks per day will be found.
- On average each block reward last for 7 days.
- The total time for Dynamic POS from today is 5.5 Months or there abouts.
- The average price per steps is taken at a very conservative 1500 satoshi for the entire period.


Block reward   Approx stake    BTC value

70      1,470      0.02205

80      1,680      0.0252

90      1,890      0.02835

100      2,100      0.0315

110      2,310      0.03465

120      2,520      0.0378

130      2,730      0.04095

140      2,940      0.0441

150      3,150      0.04725

160      3,360      0.0504

170      3,570      0.05355

180      3,780      0.0567

190      3,990      0.05985

200      4,200      0.063

210      4,410      0.06615

220      4,620      0.0693

230      4,830      0.07245

240      5,040      0.0756

250      5,250      0.07875

260      5,460      0.0819

270      5,670      0.08505

280      5,880      0.0882

290      6,090      0.09135

300      6,300      0.0945

Total Steps staked if starting with 100,000 coins TODAY = ~93,240

Total value in bitcoin of those steps at 1500 sat = 1.3986 BTC


This is a LOW estimate - this is assuming the price doesn't improve and stays at 1500 sat for 5.5 months. This will obviously not be the case but take this as a worst case scenario. At worst, you will make 1.3986 BTC in 5.5 months of staking 100,000 STEPS. At best probably 10 times this figure If you waited until the end of DPOS before selling any of your stakings.

These figures also do not take account of compounding staking interest and the fact that your staked coins stake as well - typically your share of the blocks will increase over time the longer you hold, you may be up over 4 blocks or more per day in the later stages of DPOS.

I have provided this merely as an explanation for the confidence shown by myself and others in buying large amounts of this coin and holding it long term.

Good luck!

Ok so help me out. Can you explain how this works for us idiots? I have 5k ( i know its lame) steps. I have been staking (I think) for days and days. My staking number is always 0, it says my reward is coming in 9 days. Today I got 70 steps somehow. My staking number still says 0. I just don't know if I am doing this right...

Ok well thanks in advance.

[ReturnOfTheMAC]

Here is something to help people get their heads around why STEPS is such a good investment now - rather than tomorrow.

The following figures were calculated based on the following:
- Starting supply of 100,000 coins.
- An average of 3 blocks per day will be found.
- On average each block reward last for 7 days.
- The total time for Dynamic POS from today is 5.5 Months or there abouts.
- The average price per steps is taken at a very conservative 1500 satoshi for the entire period.


Block reward   Approx stake    BTC value

70      1,470      0.02205

80      1,680      0.0252

90      1,890      0.02835

100      2,100      0.0315

110      2,310      0.03465

120      2,520      0.0378

130      2,730      0.04095

140      2,940      0.0441

150      3,150      0.04725

160      3,360      0.0504

170      3,570      0.05355

180      3,780      0.0567

190      3,990      0.05985

200      4,200      0.063

210      4,410      0.06615

220      4,620      0.0693

230      4,830      0.07245

240      5,040      0.0756

250      5,250      0.07875

260      5,460      0.0819

270      5,670      0.08505

280      5,880      0.0882

290      6,090      0.09135

300      6,300      0.0945

Total Steps staked if starting with 100,000 coins TODAY = ~93,240

Total value in bitcoin of those steps at 1500 sat = 1.3986 BTC


This is a LOW estimate - this is assuming the price doesn't improve and stays at 1500 sat for 5.5 months. This will obviously not be the case but take this as a worst case scenario. At worst, you will make 1.3986 BTC in 5.5 months of staking 100,000 STEPS. At best probably 10 times this figure If you waited until the end of DPOS before selling any of your stakings.

These figures also do not take account of compounding staking interest and the fact that your staked coins stake as well - typically your share of the blocks will increase over time the longer you hold, you may be up over 4 blocks or more per day in the later stages of DPOS.

I have provided this merely as an explanation for the confidence shown by myself and others in buying large amounts of this coin and holding it long term.

Good luck!

Ok so help me out. Can you explain how this works for us idiots? I have 5k ( i know its lame) steps. I have been staking (I think) for days and days. My staking number is always 0, it says my reward is coming in 9 days. Today I got 70 steps somehow. My staking number still says 0. I just don't know if I am doing this right...

Ok well thanks in advance.

There is no point staking with 5,000 STEPS - its sadly as simple as that. The network weight is such that you will get 1 block per week if you are lucky. You are better of just trading with any amount under 50,000.

[grizzelbeard]

Here is something to help people get their heads around why STEPS is such a good investment now - rather than tomorrow.

The following figures were calculated based on the following:
- Starting supply of 100,000 coins.
- An average of 3 blocks per day will be found.
- On average each block reward last for 7 days.
- The total time for Dynamic POS from today is 5.5 Months or there abouts.
- The average price per steps is taken at a very conservative 1500 satoshi for the entire period.


Block reward   Approx stake    BTC value

70      1,470      0.02205

80      1,680      0.0252

90      1,890      0.02835

100      2,100      0.0315

110      2,310      0.03465

120      2,520      0.0378

130      2,730      0.04095

140      2,940      0.0441

150      3,150      0.04725

160      3,360      0.0504

170      3,570      0.05355

180      3,780      0.0567

190      3,990      0.05985

200      4,200      0.063

210      4,410      0.06615

220      4,620      0.0693

230      4,830      0.07245

240      5,040      0.0756

250      5,250      0.07875

260      5,460      0.0819

270      5,670      0.08505

280      5,880      0.0882

290      6,090      0.09135

300      6,300      0.0945

Total Steps staked if starting with 100,000 coins TODAY = ~93,240

Total value in bitcoin of those steps at 1500 sat = 1.3986 BTC


This is a LOW estimate - this is assuming the price doesn't improve and stays at 1500 sat for 5.5 months. This will obviously not be the case but take this as a worst case scenario. At worst, you will make 1.3986 BTC in 5.5 months of staking 100,000 STEPS. At best probably 10 times this figure If you waited until the end of DPOS before selling any of your stakings.

These figures also do not take account of compounding staking interest and the fact that your staked coins stake as well - typically your share of the blocks will increase over time the longer you hold, you may be up over 4 blocks or more per day in the later stages of DPOS.

I have provided this merely as an explanation for the confidence shown by myself and others in buying large amounts of this coin and holding it long term.

Good luck!

Ok so help me out. Can you explain how this works for us idiots? I have 5k ( i know its lame) steps. I have been staking (I think) for days and days. My staking number is always 0, it says my reward is coming in 9 days. Today I got 70 steps somehow. My staking number still says 0. I just don't know if I am doing this right...

Ok well thanks in advance.

There is no point staking with 5,000 STEPS - its sadly as simple as that. The network weight is such that you will get 1 block per week if you are lucky. You are better of just trading with any amount under 50,000.

OK so I agree with you, so pretend I said 50k then. I am just trying to understand. Does the staking happen automatically if I had more etc... I may invest more but I just need some help understanding please.

[ReturnOfTheMAC]

Here is something to help people get their heads around why STEPS is such a good investment now - rather than tomorrow.

The following figures were calculated based on the following:
- Starting supply of 100,000 coins.
- An average of 3 blocks per day will be found.
- On average each block reward last for 7 days.
- The total time for Dynamic POS from today is 5.5 Months or there abouts.
- The average price per steps is taken at a very conservative 1500 satoshi for the entire period.


Block reward   Approx stake    BTC value

70      1,470      0.02205

80      1,680      0.0252

90      1,890      0.02835

100      2,100      0.0315

110      2,310      0.03465

120      2,520      0.0378

130      2,730      0.04095

140      2,940      0.0441

150      3,150      0.04725

160      3,360      0.0504

170      3,570      0.05355

180      3,780      0.0567

190      3,990      0.05985

200      4,200      0.063

210      4,410      0.06615

220      4,620      0.0693

230      4,830      0.07245

240      5,040      0.0756

250      5,250      0.07875

260      5,460      0.0819

270      5,670      0.08505

280      5,880      0.0882

290      6,090      0.09135

300      6,300      0.0945

Total Steps staked if starting with 100,000 coins TODAY = ~93,240

Total value in bitcoin of those steps at 1500 sat = 1.3986 BTC


This is a LOW estimate - this is assuming the price doesn't improve and stays at 1500 sat for 5.5 months. This will obviously not be the case but take this as a worst case scenario. At worst, you will make 1.3986 BTC in 5.5 months of staking 100,000 STEPS. At best probably 10 times this figure If you waited until the end of DPOS before selling any of your stakings.

These figures also do not take account of compounding staking interest and the fact that your staked coins stake as well - typically your share of the blocks will increase over time the longer you hold, you may be up over 4 blocks or more per day in the later stages of DPOS.

I have provided this merely as an explanation for the confidence shown by myself and others in buying large amounts of this coin and holding it long term.

Good luck!

Ok so help me out. Can you explain how this works for us idiots? I have 5k ( i know its lame) steps. I have been staking (I think) for days and days. My staking number is always 0, it says my reward is coming in 9 days. Today I got 70 steps somehow. My staking number still says 0. I just don't know if I am doing this right...

Ok well thanks in advance.

There is no point staking with 5,000 STEPS - its sadly as simple as that. The network weight is such that you will get 1 block per week if you are lucky. You are better of just trading with any amount under 50,000.

OK so I agree with you, so pretend I said 50k then. I am just trying to understand. Does the staking happen automatically if I had more etc... I may invest more but I just need some help understanding please.

Yes It does. You leave your wallet open, unlocked BUT still encrypted and it will try to stake. The estimated time until next stake should only be used as a gauge of how many you can expect in a 24 hour period. For instance, with my 100,000 I 'estimate' 7-9 hours all the time (which fits into 24 hours a day roughly 3 times = 3 blocks) but on occasion I will find 2 in the space of an hour.

If you bought 50,000 STEPS you would receive a little under half on my calculations. If you bought 200,000 you would receive more than double what I am receiving with 100,000. Your chance of finding more blocks increases with the number you hold and I have observed increasing returns with myself at 100,000 and other wallets around 200,000.

You can see therefore why there is no better time to buy STEPS than today - for the basic principle that as a project/company etc goes on, typically their value will increase - not all the time, but provided the devs are serious (which they are) and are intent on adding value to the coin it WILL go up in value and the sooner you buy the more coins you will end up with.

Good luck to those who leave it another month - There will be even fewer coins on the Sell Book and you will be extremely lucky to get your hands on any under 5,000 satoshi.

[andrepierre]

We will shortly update the community with more detail!

[AltcoinSteps]

Steps Stay Safe is an online tool, which enables you to store, use and manage different cryptocurrencies.

Over the last few months more and more new coins launched with viruses and trojans. Miners lost a substantial amount of coins being hacked and lost trust in the launch of new coins.

We at AltcoinSteps looked into this problem and came up with the idea of “Steps Stay Safe”. Our solution is to implement a new multi wallet for newly launched coins and older coins as requested by the community.

This online multi-wallet will have the added security of 2fa. We will download wallets from source. This way miners can mine and store coins online. No need to risk and download a new wallet to your computer till you’re sure the wallet is virus and trojan free or you can send your mined coins to an exchange.

If a wallet is broken at any point we can do everything to provide a fix and work with its dev if he is interested, but in the case a wallet cannot be fixed we will not take responsibility for loss of coins.

The fee for this service will be 250 Steps per wallet, 50% of the Steps will be burned and the rest will be put into our development fund.

We will do our best to download new wallets within 24 hours of a coin launch and developers and miners can request to add wallets to our service.

On community request we will be able to add more wallets.

https://altcoinsteps.com/staySafe

Service is only available for registered users of https://altcoinsteps.com

This is only a sneak peak, full service will launch tomorrow

[TheInfidel]

Great job guys.
All the rest of us have to do now is buckle up 

[m3rt1x]

Excellent news!It also affected the price !!

[andrepierre]

I hope the community will utilise our services, Steps Stay Safe will be live tonight!

[croato]

General idea is to we pay for using web wallet? That sounds weird. Do we own private keys there? Is there any insurance for funds held there? If not, i dont see why on earth would anyone pay to use web wallet, which is most unsecure way to store your coins btw. It would be miracle if lot of ppl pay to store their coins on web.

[andrepierre]

General idea is to we pay for using web wallet? That sounds weird. Do we own private keys there? Is there any insurance for funds held there? If not, i dont see why on earth would anyone pay to use web wallet, which is most unsecure way to store your coins btw. It would be miracle if lot of ppl pay to store their coins on web.

Thank you for your question and I can answer as follow:

To use the online Steps Wallet on our website is free!

The service we launched will be for new coins, as soon as a coin will launch we will compile a wallet (within 24 hours) this way you can safely   mine coins and send them to our online wallet service.

The easiest to explain is to give you an example, one of our community members mined LunarCoin at launch, he downloaded the wallet to his computer and it was infected with a trojan, all his coins was hacked!

With this service you can send coins to the online wallet without the risk of downloading the wallet to your computer and expose yourself, once coin is listed on an exchange or you are completely sure the wallet is clean you can send the coins to your preferred wallet.

Indeed with new wallets there is a risk that developers will not deliver and I will advise you to read our terms of use once Steps Stay Safe is live tonight.

[croato]

General idea is to we pay for using web wallet? That sounds weird. Do we own private keys there? Is there any insurance for funds held there? If not, i dont see why on earth would anyone pay to use web wallet, which is most unsecure way to store your coins btw. It would be miracle if lot of ppl pay to store their coins on web.

Thank you for your question and I can answer as follow:

To use the online Steps Wallet on our website is free!

The service we launched will be for new coins, as soon as a coin will launch we will compile a wallet (within 24 hours) this way you can safely   mine coins and send them to our online wallet service.

The easiest to explain is to give you an example, one of our community members mined LunarCoin at launch, he downloaded the wallet to his computer and it was infected with a trojan, all his coins was hacked!

With this service you can send coins to the online wallet without the risk of downloading the wallet to your computer and expose yourself, once coin is listed on an exchange or you are completely sure the wallet is clean you can send the coins to your preferred wallet.

Indeed with new wallets there is a risk that developers will not deliver and I will advise you to read our terms of use once Steps Stay Safe is live tonight.

Dont get me wrong, i am in STEPS and i think it is good coin but this step with inventing web wallet is just too funny roflmao. Web wallets are invented long time ago and are considered as most insecure way to store your coins. I was waiting this announcement and just saw what it is, i cant stop laughing.

[andrepierre]

General idea is to we pay for using web wallet? That sounds weird. Do we own private keys there? Is there any insurance for funds held there? If not, i dont see why on earth would anyone pay to use web wallet, which is most unsecure way to store your coins btw. It would be miracle if lot of ppl pay to store their coins on web.

Thank you for your question and I can answer as follow:

To use the online Steps Wallet on our website is free!

The service we launched will be for new coins, as soon as a coin will launch we will compile a wallet (within 24 hours) this way you can safely   mine coins and send them to our online wallet service.

The easiest to explain is to give you an example, one of our community members mined LunarCoin at launch, he downloaded the wallet to his computer and it was infected with a trojan, all his coins was hacked!

With this service you can send coins to the online wallet without the risk of downloading the wallet to your computer and expose yourself, once coin is listed on an exchange or you are completely sure the wallet is clean you can send the coins to your preferred wallet.

Indeed with new wallets there is a risk that developers will not deliver and I will advise you to read our terms of use once Steps Stay Safe is live tonight.

Dont get me wrong, i am in STEPS and i think it is good coin but this step with inventing web wallet is just too funny roflmao. Web wallets are invented long time ago and are considered as most insecure way to store your coins. I was waiting this announcement and just saw what it is, i cant stop laughing.

We discussed this project with numerous community members, take note that this is for new wallets at launch, it is very high risk to download new wallets. I am sure some community members will confirm it to you, not funny if you lost all your Steps because of a new wallet with Virus.

It is no laughing matter if your wallets get hacked because you downloaded an infected wallet. As pointed out before, the Lunar Wallet was clean according to Virus Total, well it was not clean and we all know what happened!!!