[ANN] Ħ [HODL] No Staking, 1% Standard Interest per Day, 750% APR For HOdlers

[FreeTrade]

ok last thing.. From the OP and from what I can somewhat see in my wallet it looks like "all outputs" are supposed to earn intereset.. from your sig I think this is supposed to be 0.000015% per block.. once agian maybe Im looking at this wrong.. but I see may balance in my wallet increasing with almost every block.. The problem Im finding is (once again Im feeling lazy right now.. havent looked at the code..) is this intreast isn't like a PoS subsidy.. meaning I see my wallet balance increasing however when I go to Coin Control and  look at each of my coin holding addresses on the blockchian... I can't seem to find where the interest is going or coming from... Could you clear this up please.. where do we find this interest being paid and how does it work?

Also, coin control isn't showing the interest at the moment. I'm working on it.
So the blockchain works with inputs and outputs. Usually

inputs >= outputs 

. . . with HOdlcoin

inputs + (interest calculated on those inputs) >= outputs

[samsmith16]

My long original post........

Ok, I should probably start writing an FAQ. I'll start here.

FAQ 1: How in heck do I calculate what interest I'm going to get?

1. The Standard Interest Rate
Interest is paid on regular balances (outputs), on every block, for a period of up to 30 days (561x30 blocks). The rate is  0.0000002384185791015625% (1/2^22). It's compounded every block, so the rate is approximated 5% APR. However, remember there is a maximum of 30 days, so to get that APR, you'd need to log in each month and shuffle the HODL to a new address.

2. Term Deposit Bonus
So if you lock an amount of HODL as a term deposit, you get a bonus on the interest. The longer the deposit, the bigger bonus. The bonus is just a multiplier of the interest, so if you locked up 100 HODL for 1 year, you'd expect a return of 5 HODL. The term deposit bonus for 1 year is about 100% - so at the end of the term you'd have 110 HODL (Capital 100 + Interest 5 + Term Deposit Bonus 5). See the chart for the multipliers, or use this formula - =(1-((409530-X)/409530)^7)*100  (X is the number of blocks to lock for, min 2 days, max 1 year)

3. Bonus Interest Rates
So here's where it gets interesting and also a little complicated. To encourage early adoption, astronomical rates of interest are paid in the early months. The max rate is 0.0000152587890625 (1/2^16). Compounded, the rate is 2274%. It's reduced every block by a multiplier - calculated like this =(409530-X/409530)^4 (X is the block where the amount is locked). See the previous chart.
So to calculate your full bonus return . . . it's
Principal + ((Standard Interest + (Bonus Interest * Bonus Multiplier))*Term Deposit Multiplier)


n.b. When a Term Deposit matures, it stops earning interest - you need to move it to start earning interest again.
n.b. Bonus rates are paid on regular balances too
n.b. The bonus rate is locked at the time of the transaction, the rate you can achieve reduces over time due to the multiplier, but once you're earning that bonus rate, it doesn't reduce.

Great!! Thank you for this.. it makes things much more clear

[samsmith16]

ok last thing.. From the OP and from what I can somewhat see in my wallet it looks like "all outputs" are supposed to earn intereset.. from your sig I think this is supposed to be 0.000015% per block.. once agian maybe Im looking at this wrong.. but I see may balance in my wallet increasing with almost every block.. The problem Im finding is (once again Im feeling lazy right now.. havent looked at the code..) is this intreast isn't like a PoS subsidy.. meaning I see my wallet balance increasing however when I go to Coin Control and  look at each of my coin holding addresses on the blockchian... I can't seem to find where the interest is going or coming from... Could you clear this up please.. where do we find this interest being paid and how does it work?

Also, coin control isn't showing the interest at the moment. I'm working on it.
So the blockchain works with inputs and outputs. Usually

inputs >= outputs 

. . . with HOdlcoin

inputs + (interest calculated on those inputs) >= outputs

Yes for sure ins and outs.. which is why I first thought when seeing this coin.. "is this going to pay subsidy to every output out there? on everyblock? scaling will be a nightmare.." but I can see now that your doing it another way.. ok ok time to look at the source.. So many questions.. like where is this interest kept? I have been importing keys over from AWS and the wallet knows right way how much interest.. I like this concept

[FreeTrade]

Yes for sure ins and outs.. which is why I first thought when seeing this coin.. "is this going to pay subsidy to every output out there? on everyblock? scaling will be a nightmare.." but I can see now that your doing it another way.. ok ok time to look at the source.. So many questions.. like where is this interest kept? I have been importing keys over from AWS and the wallet knows right way how much interest.. I like this concept

You would think it would be a calculative nightmare, but you will like how elegant it is. I can't remember if I came up with it myself or stole the idea from Dan Larimer. Probably Dan.

[trader19]

I like the paying interest concept... I've seen it and a few other cryptos and I truly believe this could be one of the things we can give avg. people to help them A) get involve with Crypto and B) replace a function of  traditional banking..

I have decided to mine this coin a little and play around with it.. I haven't dug into the code at all so I may be talking out of turn however Im seeing a few things that I felt worth bringing attention to..

First thing I just need to clear this up a little.. the APR info in the OP is confusing well at least to me.. It shows "1 year term deposite ~ 100% bonus on interest" does this mean if you deposite for 1 year you get 100% of the annual APR? or does this mean you get 100% on top of the APR? I think the term "bonus" used in the 100% and "bonus" used in the APR description may be whats throwing me off..

Second I see 1st month ~ 2143% APR however we are at 4243% (at the time of writing this) was the OP written before you decided to bump the starting ARP? if so I can see why my math is off.. if not well then I'm not sure what I have wrong...

Third I havn't been able to work out the math on your dropping APR.. meaning starting at 4500% then dropping it 6.16438 each day for the 730 days (2 years) brings us to 0% however that would mean we are at ~4475% (time of writing) not ~4243% (time of writing) So I must be doing something wrong? The only reason I know its 4243% (atm) is by using the wallet pop-up prompt...

Forth I can see you worked hard to make it more advantages to lock (hodl) funds for longer periods vs.  short-term compounded schemes.. This is where the decreasing APR comes in handy because with 3 months at 60% if the APR remained constant it would be in someones benefit benefit to work the 60% short-term on a compound leaving them tempted to perhaps dump prior to the full year.. Now without me being able to factor this decreasing ARP I haven't been able to work out if the APR reduction reduction is timed proper against a 90 day compound scheme...

ok last thing.. From the OP and from what I can somewhat see in my wallet it looks like "all outputs" are supposed to earn intereset.. from your sig I think this is supposed to be 0.000015% per block.. once agian maybe Im looking at this wrong.. but I see may balance in my wallet increasing with almost every block.. The problem Im finding is (once again Im feeling lazy right now.. havent looked at the code..) is this intreast isn't like a PoS subsidy.. meaning I see my wallet balance increasing however when I go to Coin Control and  look at each of my coin holding addresses on the blockchian... I can't seem to find where the interest is going or coming from... Could you clear this up please.. where do we find this interest being paid and how does it work?

Any clarification you can give would be great...

Ok, I should probably start writing an FAQ. I'll start here.

FAQ 1: How in heck do I calculate what interest I'm going to get?

1. The Standard Interest Rate
Interest is paid on regular balances (outputs), on every block, for a period of up to 30 days (561x30 blocks). The rate is  0.0000002384185791015625% (1/2^22). It's compounded every block, so the rate is approximated 5% APR. However, remember there is a maximum of 30 days, so to get that APR, you'd need to log in each month and shuffle the HODL to a new address.

2. Term Deposit Bonus
So if you lock an amount of HODL as a term deposit, you get a bonus on the interest. The longer the deposit, the bigger bonus. The bonus is just a multiplier of the interest, so if you locked up 100 HODL for 1 year, you'd expect a return of 5 HODL. The term deposit bonus for 1 year is about 100% - so at the end of the term you'd have 110 HODL (Capital 100 + Interest 5 + Term Deposit Bonus 5). See the chart for the multipliers, or use this formula - =(1-((409530-X)/409530)^7)*100  (X is the number of blocks to lock for, min 2 days, max 1 year)

3. Bonus Interest Rates
So here's where it gets interesting and also a little complicated. To encourage early adoption, astronomical rates of interest are paid in the early months. The max rate is 0.0000152587890625 (1/2^16). Compounded, the rate is 2274%. It's reduced every block by a multiplier - calculated like this =(409530-X/409530)^4 (X is the block where the amount is locked). See the previous chart.
So to calculate your full bonus return . . . it's
Principal + ((Standard Interest + (Bonus Interest * Bonus Multiplier))*Term Deposit Multiplier)


n.b. When a Term Deposit matures, it stops earning interest - you need to move it to start earning interest again.
n.b. Bonus rates are paid on regular balances too
n.b. The bonus rate is locked at the time of the transaction, the rate you can achieve reduces over time due to the multiplier, but once you're earning that bonus rate, it doesn't reduce.

first class answers, makes it easier to understand how the interest is being calculated. thanks samsmith16  for questions and dev for answers. freetrade you really did amazing job i am sure a lot more will be joining the party soon. still minable with home pc although if you lucky 2 blocks a day, depends on hardware offcourse.

enjoy

[usorin]

How to make a deposit? I can't see any receive address...sorry for my question

[proletariat]

How to make a deposit? I can't see any receive address...sorry for my question

File menu (top left) then click on 'receiving addresses'

[usorin]

How to make a deposit? I can't see any receive address...sorry for my question

File menu (top left) then click on 'receiving addresses'

Thx!!

[Richard1972x]

I have used my computer also for different things within the last days.
But with mining I got around every 6 hours a Block.
It's also quite impressive if you make a term deposit of 1 year how many coins you can get out of it. Incredible.
Quite nice and still working very well.
I think will mine this further over the weekend. Well done FreeTrade 

[pirangueiro]

Does it mean that i am mining?




2016-02-06 12:44:36 Hashes Per Second=7 (total seconds=288 hashes=2030)
2016-02-06 12:45:24 UpdateTip: new best=000002fa74aad928f6179eac29ec11dbb98cb0eaf1b3841e76c094678f225c12  height=2583  log2_work=32.066544  tx=2939  date=2016-02-06 12:45:14 progress=0.000012  cache=0.0MiB(482tx)
2016-02-06 12:45:24 Block:CBlockIndex(pprev=0x564ecd8, nHeight=2583, merkle=b1666bc81c758bfb53cc82c17c816ba3dfcdd0bc1c35dc2d6bc0eab050386ec3, hashBlock=000002fa74aad928f6179eac29ec11dbb98cb0eaf1b3841e76c094678f225c12, nNonce=1, nTime=1454762714, location=119386, finalcalculation=4225588864)
2016-02-06 12:46:08 HOdlcoinMiner:
2016-02-06 12:46:08 search finished - best hash 
  hash: 002ce030aafd5c217281a9c947d0c6ec056717f9b0b7166c8c26229155bf5171 collisions:966 gethash:002ce030aafd5c217281a9c947d0c6ec056717f9b0b7166c8c26229155bf5171 ba:19846 bb:1944995375 nonce:1803
target: 0000057c79000000000000000000000000000000000000000000000000000000
2016-02-06 12:46:08 Hashes Per Second=7 (total seconds=380 hashes=2996)
2016-02-06 12:46:08 CreateNewBlock(): total size 1000
2016-02-06 12:46:08 CreateNewBlock(): nfees 0
2016-02-06 12:46:08 Running HOdlcoinMiner with 1 transactions in block (189 bytes)
2016-02-06 12:46:40 UpdateTip: new best=00000011cdcfa33c3bf9bd3b20a7796b2fb55030767e2a23ec1e707bd74c89f3  height=2584  log2_work=32.067449  tx=2940  date=2016-02-06 12:46:11 progress=0.000012  cache=0.0MiB(483tx)
2016-02-06 12:46:40 Block:CBlockIndex(pprev=0x564edf8, nHeight=2584, merkle=aa49ee0b335bfd433756680369f6234fad92eb7b2edde46cd44c786836d83a59, hashBlock=00000011cdcfa33c3bf9bd3b20a7796b2fb55030767e2a23ec1e707bd74c89f3, nNonce=6249, nTime=1454762771, location=198316, finalcalculation=2135759117)
2016-02-06 12:47:39 HOdlcoinMiner:
2016-02-06 12:47:39 search finished - best hash 
  hash: 001a78f376b10814738a3fc3439ddcb4cbcae660242f3ac0423ab294c88c49fe collisions:1023 gethash:001a78f376b10814738a3fc3439ddcb4cbcae660242f3ac0423ab294c88c49fe ba:24150 bb:575853014 nonce:5042
target: 000005f10c000000000000000000000000000000000000000000000000000000
2016-02-06 12:47:39 Hashes Per Second=11 (total seconds=91 hashes=1023)
2016-02-06 12:47:39 CreateNewBlock(): total size 1000
2016-02-06 12:47:39 CreateNewBlock(): nfees 0
2016-02-06 12:47:39 Running HOdlcoinMiner with 1 transactions in block (189 bytes)

[spydud22]

I was successfully able to add Nyancoin to Cryptopia. Might not be a bad place to start exchange wise.

[Kushedout]

I was successfully able to add Nyancoin to Cryptopia. Might not be a bad place to start exchange wise.

HODL needs no exchange. One can not simply exchange HODL. First you must....

[illiki23]

I was successfully able to add Nyancoin to Cryptopia. Might not be a bad place to start exchange wise.

HODL needs no exchange.

That attitude would really discourage me from even playing around with this coin (even if it is just a joke coin).    One of the only interesting thing about these types of coins is seeing how it does on an exchange given the high interest rates.  Also it opens all sorts of doors for manipulation and scamming.

SO yeah.  HODL needs an exchange!

[Kushedout]

I was successfully able to add Nyancoin to Cryptopia. Might not be a bad place to start exchange wise.

HODL needs no exchange.

That attitude would really discourage me from even playing around with this coin (even if it is just a joke coin).    One of the only interesting thing about these types of coins is seeing how it does on an exchange given the high interest rates.  Also it opens all sorts of doors for manipulation and scamming.

SO yeah.  HODL needs an exchange!

Exchange is inevitable. Exchanges will pick up HODL, regardless of what I say.

Besides, this coin is very unique, can we have a coin where technology, innovation and fun factor is more important than how fast the coin can gets on an exchange? Lets just have fun with this one, there are plenty of coins out there to pump and dump, this is not one of them.

[trader19]

I was successfully able to add Nyancoin to Cryptopia. Might not be a bad place to start exchange wise.

HODL needs no exchange.

That attitude would really discourage me from even playing around with this coin (even if it is just a joke coin).    One of the only interesting thing about these types of coins is seeing how it does on an exchange given the high interest rates.  Also it opens all sorts of doors for manipulation and scamming.

SO yeah.  HODL needs an exchange!

Exchange is inevitable. Exchanges will pick up HODL, regardless of what I say.

Besides, this coin is very unique, can we have a coin where technology, innovation and fun factor is more important than how fast the coin can gets on an exchange? Lets just have fun with this one, there are plenty of coins out there to pump and dump, this is not one of them.

yes, this coin is fun and should be treated as more than just p&d. great thing about HODL everyone can mine it (still) with their laptop and get block or two a day, lock those coins and watch interest growing in their wallet. like kushed said this is where innovation, technology and fun meet each other. don't worry exchanges will come but let us first enjoy simple things in life
no hurry here just HODLers

[FreeTrade]

That attitude would really discourage me from even playing around with this coin (even if it is just a joke coin).    One of the only interesting thing about these types of coins is seeing how it does on an exchange given the high interest rates.  Also it opens all sorts of doors for manipulation and scamming.

SO yeah.  HODL needs an exchange!

I've been speaking to a contact at reasonably sized exchange - they like the concept of HODL, but because inputs!=outputs and new coins are generated for interest in a way that hasn't been seen before, it's a bit risky, so they want to see it tested in the open for a while. I'm fine with that, it's experimental. There's no hurry. HODL your horses.


 

[NextGenCrypto]

HODL your horses.
 

That seriously made me LODL.   

[Nik4691]

I stop mining now.
With a network hashrate 15 to 20 Kh/s I don't have a chance to hit 1 block a day.
Botnets or GPU miner?
Maybe more people interested?
 

[WorldCoiner]

I stop mining now.
With a network hashrate 15 to 20 Kh/s I don't have a chance to hit 1 block a day.
Botnets or CPU miner?
Maybe more people interested?
 

I got today six blocks with my two year old Pentium i7-4770, so mining is still possible in standalone mode.
HODL! Like this coin a lot

[Nik4691]

I stop mining now.
With a network hashrate 15 to 20 Kh/s I don't have a chance to hit 1 block a day.
Botnets or CPU miner?
Maybe more people interested?
 

I got today six blocks with my two year old Pentium i7-4770, so mining is still possible in standalone mode.
HODL! Like this coin a lot

I got today a block with my six two year old Pentium i7-4770 machines...
Maybe that...