[ANN][STEEM][POW] - NO IPO | NO PREMINE | NO INSTAMINE (relaunch)

[penambang]

what does this mean?

Code:

"total_missed": 86,

orphan block or what?

[1714106117]

1714106117

[1714106117]

1714106117

[thereverseflash]

what does this mean?

Code:

"total_missed": 86,

orphan block or what?

It means you were scheduled to produce a block, but failed to produce a block at that time.  

If you node was running and you didn't have --witness specified then that could also cause it.

There is some probability that your block didn't propagate to the next producer in time.

There is some probability that your NTP is not properly synced.

There is some probability that your network connection was interrupted.

If you are mining on a different node than you are witnessing then you may have to specify the --private-key so that the witness can produce blocks.

[thereverseflash]

In case anyone cares, we are reducing our own mining efforts by 50% which should make it easier for others to mine.

[NextGenCrypto]

In case anyone cares, we are reducing our own mining efforts by 50% which should make it easier for others to mine.

Sounds good to me.  

If there's anyone paying attention that can compile this for windows, please shoot me a message.

[thereverseflash]

The latest master branch contains enhancements to POW that should boost mining efficiency by 33%.

The difficulty is down (queue length 92) because we reached our target stake and are now happy to let others mine the rest.

Make sure you convert to vesting and commit to hold for an average of 1 year.

Estimated supply 1 year from now is between 400M and 500M depending upon various factors.

[Jookly]

The latest master branch contains enhancements to POW that should boost mining efficiency by 33%.

The difficulty is down (queue length 92) because we reached our target stake and are now happy to let others mine the rest.

Make sure you convert to vesting and commit to hold for an average of 1 year.

Estimated supply 1 year from now is between 400M and 500M depending upon various factors.

Is there any difference between vesting in one larger chunk or several smaller chunks? Is it worth waiting to hit a few rewards before vesting?

[SalimNagamato]

The latest master branch contains enhancements to POW that should boost mining efficiency by 33%.

The difficulty is down (queue length 92) because we reached our target stake and are now happy to let others mine the rest.

Make sure you convert to vesting and commit to hold for an average of 1 year.

Estimated supply 1 year from now is between 400M and 500M depending upon various factors.

i tried to transfer to vesting today.
from and to account with already vested steem..
tried to transfer some more on same account. the amount i transferred is not showing in vests...
so missing the coins

[thereverseflash]

The latest master branch contains enhancements to POW that should boost mining efficiency by 33%.

The difficulty is down (queue length 92) because we reached our target stake and are now happy to let others mine the rest.

Make sure you convert to vesting and commit to hold for an average of 1 year.

Estimated supply 1 year from now is between 400M and 500M depending upon various factors.

i tried to transfer to vesting today.
from and to account with already vested steem..
tried to transfer some more on same account. the amount i transferred is not showing in vests...
so missing the coins

VESTS represent a share in the VESTING FUND, if you were able to immediately convert 100% of your VESTS back to STEEM you would end up with the same amount of STEEM you started with.

Using the "info" command in the CLI wallet you can get the following stats:

  "total_vesting_fund_steem": "1336248.000 STEEM",
  "total_vesting_shares": "361249.423691 VESTS",

This means each VESTS is worth 1336248/361249 = 3.69 STEEM at the moment.   So calculate your STEEM balance and you will find that you have actually earned significant amount of STEEM as a result of your transfer to vesting.

All currencies that have a fixed block reward start out with near "infinite inflation" that asymptotically approaches 0% as supply grows.

When you convert STEEM to VESTS you lock in your % ownership in exchange for long-term commitment.

The ratio of STEEM to VESTS will continue to grow.

[SalimNagamato]

no..
i transferred to vesting.
vests amount didn't change. while i lost some steem

[thereverseflash]

no..
i transferred to vesting.
vests amount didn't change. while i lost some steem

What command did you type.  Account name?

[SalimNagamato]

no..
i transferred to vesting.
vests amount didn't change. while i lost some steem

What command did you type.  Account name?

will send in PM to not show my account here

[icecube45]

LOL I thought this had to do with STEAM the gaming platform!

was confused at first haha 

[thereverseflash]

no..
i transferred to vesting.
vests amount didn't change. while i lost some steem

What command did you type.  Account name?

will send in PM to not show my account here

I investigated the PM and found everything to be as expected.  But to clarify for others:

VESTS are not denominated in STEEM but represent a *share* in a pool of STEEM. 

When you buy into the pool, you "buy VESTS" at the current price defined by STEEM_IN_POOL / TOTAL_VESTS and thereby do not dilute other people in the pool.  Your STEEM go into the pool and you get a corresponding share in the POOL.

The network adds new STEEM to the pool without adding VESTS and by this means pays a "dividend" to all holders of VESTS while simultaneously increasing the price of VESTS in STEEM.

Early on a fixed rate of production causes very large percentage increases in supply, but as supply grows percentage increase falls.  In other words the price of VESTS in STEEM is rising very quickly right now, so if you plan on converting to VESTS you should
do it quickly. 

[CLains]

I want to run a witness (spectral).

Also, WTB some steem PM me 

[thereverseflash]

I want to run a witness (spectral).

Also, WTB some steem PM me 

How much do you want to buy in terms of USD/BTC? 

When you do buy, make sure you VEST them immediately to prevent dilution, or if you don't vest make sure you assume a much larger supply of STEEM when pricing.

[CLains]

I want to run a witness (spectral).

Also, WTB some steem PM me 

How much do you want to buy in terms of USD/BTC? 

When you do buy, make sure you VEST them immediately to prevent dilution, or if you don't vest make sure you assume a much larger supply of STEEM when pricing.

A couple of BTC, depending on what the lowest price is. PM me offers.

[lafona]

Hi I am also interested in running a witness. Sounds like an interesting project.

[thereverseflash]

NextGen, Steemd, if you would like to be a witness I will vote for your continued efforts if you would be willing to reveal a bit about yourself and are interested in a long-term job running a node.

If you are interested in becoming a witness please share with everyone a little about yourself.  There are 19 slots available.

[super-cpu]

do you plan to add this coin to exchange?

[thereverseflash]

do you plan to add this coin to exchange?

Discussions are underway with two exchanges, on of which has committed to adding it and the other is investigating it.