PPCoin proof of stake rewards

[annette786]

I'm tying to better understand PPCoin's proof of stake reward system.  Do I get coins for the existing coins I have? Can someone be kind enough to explain it to me?

[H@ml3t]

I think we need a PPCoin Wiki so anyone can find this kind of information faster.

Yes you do get coins for the existing you have, but you need to hold them for at least 30 days, and you wont get rich by this. By design you will get ~1% interest per year.

Read this for more detailed information:
http://new.ppcointalk.org/index.php?topic=8.0

[DarkHyudrA]

I'm tying to better understand PPCoin's proof of stake reward system.  Do I get coins for the existing coins I have? Can someone be kind enough to explain it to me?

If I can remember well, you need:

*To have a 30 days stopped coin(the time that you recieved the transaction most be over 30 days)
*Run the qt as -server and you will be eligible and good luck

[drawingthesun]

I'm tying to better understand PPCoin's proof of stake reward system.  Do I get coins for the existing coins I have? Can someone be kind enough to explain it to me?

If I can remember well, you need:

*To have a 30 days stopped coin(the time that you recieved the transaction most be over 30 days)
*Run the qt as -server and you will be eligible and good luck

Run it as server? Hmm, it should be by default in the client as normal. And also my wallet.dat is unlocked all the time because there is no other way to get the interest. This is what I heard. You can't get interest and have a locked (encrypted) wallet at the same time. This seems like a design flaw.

[Sunny King]

To mint proof-of-stake blocks, you just leave the wallet running (ppcoin-qt or ppcoind) and be patient. No need to run server mode for ppcoin-qt, but if you use wallet encryption, it would be handy in server mode because currently you need to unlock wallet on command line in order to mint.

See FAQ for more on wallet encryption.
https://github.com/ppcoin/ppcoin/wiki/FAQ

If you power off your computer daily that's fine. To maximize the chance to mint I would recommend running the wallet whenever you power on the computer.

[btchaver]

To mint proof-of-stake blocks, you just leave the wallet running (ppcoin-qt or ppcoind) and be patient. No need to run server mode for ppcoin-qt, but if you use wallet encryption, it would be handy in server mode because currently you need to unlock wallet on command line in order to mint.

See FAQ for more on wallet encryption.
https://github.com/ppcoin/ppcoin/wiki/FAQ

If you power off your computer daily that's fine. To maximize the chance to mint I would recommend running the wallet whenever you power on the computer.

SO if you are not running a wallet you are not earning proof of stake? i hate to ask but how can everyone keep their wallets running?  this seems like its against the saving energy thing that ppc was supposed to solve?

[Sahtor]

The coin age still affects difficulty reward. PoS seems to be good idea promoting network health and lots of confirmations.

The client does need some confirmation that "minting" is happening. Just say its earning interest while running.