[WHY] WHYCOIN OFFICIAL ANN | Non-Profit | 10% PoS

[coinyoo]

50 billion premined coins is absolutely crazy. Even for a POS coin. i doubt that you could distribute them in a fair way.

[1713958941]

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[1713958941]

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[1713958941]

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[whycointeam]

50 billion premined coins is absolutely crazy. Even for a POS coin. i doubt that you could distribute them in a fair way.

They won't be distributed for many many years...the bulk of them are a treasury for rewarding students a few coins at a time.

We may have a hundred million in the wild at this moment and our budget calls for up to 250 million over the next year.

[cjmoles]

50 billion premined coins is absolutely crazy. Even for a POS coin. i doubt that you could distribute them in a fair way.

Most of the premine is in cold storage....This is not the typical premine, pump, and dump variety of project.

[dusty777]

WE have updated the official website with more info on Why Fund Inc.

http://HTTP://whycoin.info/

Any question?  We are completely transparent and happy to answer!

Dusty Ridge
Founder

[dusty777]

So how do I get some?



And as I understand it 80 million have been given away free and 99.9 Billion are in cold storage. IS that right?
If so I take it when an exchange takes the coin that 80 million will be up for trading.
When do you start dipping in to the coins in cold storage?


EDIT:
It seems to get coins you have to do all that social twittering and facebook  Nah, not for me Ill wait until their on an exchange.

I think we are approaching 100 million out...the budget anticipates being as high as 250 million in a year.  But that is considerable dependent on value.

In any case the treasury is in cold storage not staking, for years of future use to reward students.

[cjmoles]

Is the staking function working for everybody?  I've been staking for a continuous three days and expected time to earn stake is increasing...not decreasing.  Am I missing something?

[whycointeam]

Is the staking function working for everybody?  I've been staking for a continuous three days and expected time to earn stake is increasing...not decreasing.  Am I missing something?

The staking is working fine...small holders always have a problem because they have to compete for blocks...but people with several thousand seem to getting their stake.  Some people in other coins have formed pools and increase there competing size...sort of like mining pools.

Hang in!

[pineapples]

Is the staking function working for everybody?  I've been staking for a continuous three days and expected time to earn stake is increasing...not decreasing.  Am I missing something?

The staking is working fine...small holders always have a problem because they have to compete for blocks...but people with several thousand seem to getting their stake.  Some people in other coins have formed pools and increase there competing size...sort of like mining pools.

Hang in!

when you stake, the input is generally halved, you dont really see it.
and if you look at the explorer it's not obvious either (my pet peeve with inquidus based explorers)

basically, your wallet wants to make x amount of stakes in y amount of time, if you dont it makes your inputs smaller, so you end up with increasing amounts of inputs (staking potential) but they get smaller, so it takes longer for each one to stake.

i really dont know the math behind it, but .. it results in yr stakes getting smaller
unless you are a major staker. ideally i imagine whats' supposed to happen is you end up with an infinite amount of inputs all staking at an approved time apart.

which seems like a great idea.


edit.
if you go into yr wallet, and using coin control, go into send, then click on the "inputs" button. you can see each deposit against yr address.
i have deposited twice into my wallet, yet there are 16 inputs. this is because of the stake splitting. if i was not staking, there would be only two inputs (one for each deposit).

[cjmoles]

Is the staking function working for everybody?  I've been staking for a continuous three days and expected time to earn stake is increasing...not decreasing.  Am I missing something?

The staking is working fine...small holders always have a problem because they have to compete for blocks...but people with several thousand seem to getting their stake.  Some people in other coins have formed pools and increase there competing size...sort of like mining pools.

Hang in!

when you stake, the input is generally halved, you dont really see it.
and if you look at the explorer it's not obvious either (my pet peeve with inquidus based explorers)

basically, your wallet wants to make x amount of stakes in y amount of time, if you dont it makes your inputs smaller, so you end up with increasing amounts of inputs (staking potential) but they get smaller, so it takes longer for each one to stake.

i really dont know the math behind it, but .. it results in yr stakes getting smaller
unless you are a major staker. ideally i imagine whats' supposed to happen is you end up with an infinite amount of inputs all staking at an approved time apart.

which seems like a great idea.


edit.
if you go into yr wallet, and using coin control, go into send, then click on the "inputs" button. you can see each deposit against yr address.
i have deposited twice into my wallet, yet there are 16 inputs. this is because of the stake splitting. if i was not staking, there would be only two inputs (one for each deposit).

Still only two inputs...two deposits and two inputs.  My wallet has been encrypted, unlocked, and staking with 15K whycoin (non-stop) for a week, but it just isn't collecting stake for some reason.  Are big wallets getting everything?  Something doesn't seem right....keep watching and waiting???

[ukon]

no exchange no market 

[brgrimm]

no exchange no market 

Wait,will soon be...

[ukon]

no exchange no market 

Wait,will soon be...

was too long to wait 

[pineapples]

Still only two inputs...two deposits and two inputs.  My wallet has been encrypted, unlocked, and staking with 15K whycoin (non-stop) for a week, but it just isn't collecting stake for some reason.  Are big wallets getting everything?  Something doesn't seem right....keep watching and waiting???

i guess make sure you're in sync too.

after a fresh restart
go into debug console
help > debug > console
enter :
getpeerinfo

this lists other wallets in the network.
you can see amongst their info their relative "startingheight", just compare with your own to see if in sync
- if you did this 3 hours after you started your wallet, the "startingheight" would be from 3 hours ago as it gives the value from when you started connecting.

also
in the qt you can see a little lightning bolt, it gives you some minor info on your staking ability.

go into debug console
help > debug > console

enter :
getstakinginfo

mine gives
{
"enabled" : true,
"staking" : true,
"errors" : "",
"currentblocksize" : 1000,
"currentblocktx" : 0,
"pooledtx" : 0,
"difficulty" : 3374246.50853616,
"search-interval" : 16,
"weight" : 158362422575713,
"netstakeweight" : 4529885007033340,
"expectedtime" : 2574
}

the lightning bolt is based on teh "expectetime" result.
a value to look at here is "weight", it will get bigger over time as the inputs age and grow in weight.

tbh i'm not entirely sure wether this is the biggest input, or the total combined weights.
or for that matter whether expected time is based on a single input or combined weights,
even at their best they are still no more than guesstimates anyway

(after 10 minutes or so, my "expectedtime" had decreased by 38)

--


i just looked at the explorer.
and did a small amount of digging and came across a staking input of 2450 coins that staked in roughly 3 days.

so it certainly seems you should have staked by now.
do you mind posting yr address?

[shadows123]

still waiting this coin to release on market

[cjmoles]

Still only two inputs...two deposits and two inputs.  My wallet has been encrypted, unlocked, and staking with 15K whycoin (non-stop) for a week, but it just isn't collecting stake for some reason.  Are big wallets getting everything?  Something doesn't seem right....keep watching and waiting???

i guess make sure you're in sync too.

after a fresh restart
go into debug console
help > debug > console
enter :
getpeerinfo

this lists other wallets in the network.
you can see amongst their info their relative "startingheight", just compare with your own to see if in sync
- if you did this 3 hours after you started your wallet, the "startingheight" would be from 3 hours ago as it gives the value from when you started connecting.

also
in the qt you can see a little lightning bolt, it gives you some minor info on your staking ability.

go into debug console
help > debug > console

enter :
getstakinginfo

mine gives
{
"enabled" : true,
"staking" : true,
"errors" : "",
"currentblocksize" : 1000,
"currentblocktx" : 0,
"pooledtx" : 0,
"difficulty" : 3374246.50853616,
"search-interval" : 16,
"weight" : 158362422575713,
"netstakeweight" : 4529885007033340,
"expectedtime" : 2574
}

the lightning bolt is based on teh "expectetime" result.
a value to look at here is "weight", it will get bigger over time as the inputs age and grow in weight.

tbh i'm not entirely sure wether this is the biggest input, or the total combined weights.
or for that matter whether expected time is based on a single input or combined weights,
even at their best they are still no more than guesstimates anyway

(after 10 minutes or so, my "expectedtime" had decreased by 38)

--


i just looked at the explorer.
and did a small amount of digging and came across a staking input of 2450 coins that staked in roughly 3 days.

so it certainly seems you should have staked by now.
do you mind posting yr address?


{
"enabled" : true,
"staking" : true,
"errors" : "",
"currentblocksize" : 1000,
"currentblocktx" : 0,
"pooledtx" : 0,
"difficulty" : 8180643.52137617,
"search-interval" : 16,
"weight" : 1500000000000,
"netstakeweight" : 4030579255471150,
"expectedtime" : 241834
}

ADD:  WXLLWk1zEN1jCf6wxDcdDwXwtJVjS3qhZR
ADD:  WfhKAgcVfZG3zjfywrrt3zTLXTpspJbWfy

I turned the wallet off last night to give my system a time out.

EDIT: several hours later

{
"enabled" : true,
"staking" : true,
"errors" : "",
"currentblocksize" : 1000,
"currentblocktx" : 0,
"pooledtx" : 0,
"difficulty" : 5399261.68279005,
"search-interval" : 16,
"weight" : 1500000000000,
"netstakeweight" : 4157621992161578,
"expectedtime" : 249457
}

EDIT:  several more hours

{
"enabled" : true,
"staking" : true,
"errors" : "",
"currentblocksize" : 1000,
"currentblocktx" : 0,
"pooledtx" : 0,
"difficulty" : 4953482.77450397,
"search-interval" : 16,
"weight" : 1500000000000,
"netstakeweight" : 3594961743266243,
"expectedtime" : 215697
}

EDIT: several more hours

{
"enabled" : true,
"staking" : true,
"errors" : "",
"currentblocksize" : 1000,
"currentblocktx" : 0,
"pooledtx" : 0,
"difficulty" : 6389848.55238306,
"search-interval" : 16,
"weight" : 1500000000000,
"netstakeweight" : 3699054279335534,
"expectedtime" : 221943
}

[pineapples]

ADD:  WXLLWk1zEN1jCf6wxDcdDwXwtJVjS3qhZR
ADD:  WfhKAgcVfZG3zjfywrrt3zTLXTpspJbWfy

both of those addresses are empty. the coins have moved around a bit from them.
here are the tx where those address get emptied.

http://whyexplorer.infernopool.com/tx/f26750fbedcf06828bd07bcb96dbe7fc49a23185cb8801038046fa89f3af1184
http://whyexplorer.infernopool.com/tx/722546f2d575a94d40f455c47d01fc439794a0f0c01c32c97b6e847aff9360a6

try going into debug console again and type :
listaddressgroupings

this should give you a run down of what balances against what address are in yr wallet.
i followed the coins a few tx, but have no idea how many addressess you might now own.
this is where some of them ended up. in groups of 100. all against different addresses
http://whyexplorer.infernopool.com/tx/032f0ce8d78363cc368ddd01576daadc92dae14b8a1e3fe4e37cd5cbfa533cff



it might be worth sending them all in one tx back to a single address.

--edit
oh i see those tx happened yesterday.
it is really much more likely for you to stake with a larger input than 100 coins. and you also dont need to send them to different addresses, you could use coincontrol and send them all to a single address


according to your getstakinginfo you should be staking at some point.

[cjmoles]

ADD:  WXLLWk1zEN1jCf6wxDcdDwXwtJVjS3qhZR
ADD:  WfhKAgcVfZG3zjfywrrt3zTLXTpspJbWfy

both of those addresses are empty. the coins have moved around a bit from them.
here are the tx where those address get emptied.

http://whyexplorer.infernopool.com/tx/f26750fbedcf06828bd07bcb96dbe7fc49a23185cb8801038046fa89f3af1184
http://whyexplorer.infernopool.com/tx/722546f2d575a94d40f455c47d01fc439794a0f0c01c32c97b6e847aff9360a6

try going into debug console again and type :
listaddressgroupings

this should give you a run down of what balances against what address are in yr wallet.
i followed the coins a few tx, but have no idea how many addressess you might now own.
this is where some of them ended up. in groups of 100. all against different addresses
http://whyexplorer.infernopool.com/tx/032f0ce8d78363cc368ddd01576daadc92dae14b8a1e3fe4e37cd5cbfa533cff



it might be worth sending them all in one tx back to a single address.

--edit
oh i see those tx happened yesterday.
it is really much more likely for you to stake with a larger input than 100 coins. and you also dont need to send them to different addresses, you could use coincontrol and send them all to a single address


according to your getstakinginfo you should be staking at some point.

LOL

Yes, I just split my coin up a few hours ago.  I had all my coin in two addresses and they haven't been staking....it's been way too long so something was wrong.  I decided to try something new as an experiment....I read an article that described a procedure similar to what you see me doing on the chain....I will keep you posted as to the results of my experiment.

[whycointeam]

WhyCoin was discovered to contain a "staking exploit" and attempts to remove it were too late.  So...the coin was BURNED!  There will be a "do-over"...a complete redistribution with a strict criteria.  A new coin is being tested and when Why Fund Inc. receives a clean, functional coin...we will announce the distribution and it's criteria.  I have updated the original ANN to include the foregoing.  I appreciate your interest in our noble endeavor.

[cjmoles]

WhyCoin was discovered to contain a "staking exploit" and attempts to remove it were too late.  So...the coin was BURNED!  There will be a "do-over"...a complete redistribution with a strict criteria.  A new coin is being tested and when Why Fund Inc. receives a clean, functional coin...we will announce the distribution and it's criteria.  I have updated the original ANN to include the foregoing.  I appreciate your interest in our noble endeavor.

What???  That's what I figured...I tried to point out that I thought something was wrong. Do I get a bounty for  being the first to point it out?  (SMILE)  Now what? Let's not give up...let's improve!

[TheInfidel]

Are you still going with 50 Billion premine in your do over?
Now that you have a second chance you may want to rethink that....