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Author Topic: Are all strategies to mine PPCoin Proof of Stake blocks equivalent?  (Read 1288 times)
ripper234 (OP)
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Ron Gross


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April 10, 2013, 11:07:49 PM
 #1

http://bitcoin.stackexchange.com/questions/9540/all-all-strategies-to-mine-ppcoin-proof-of-stake-blocks-equivalent

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xorxor
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April 11, 2013, 02:45:51 AM
Last edit: April 11, 2013, 03:55:55 AM by xorxor
 #2

Alice, Bob and Charlie each own 100 PPCoin, and would like to generate more using Proof of Stake.
Alice keeps her ppcoind running all the time
Bob stores them offline for a year, and then runs ppcoind for a week
Charlie uses some other arbitrary "strategy", where I define a strategy by a sequence of ON/OFF schedules, that can possibly depend on whether he finds coins in previous schedules. (Technically it's a decision tree).

Would all the above, on average, achieve equal expected amount of PPCoins in their wallets? Is there a dominant strategy? What about a combination of maximum expected value and security (running your client 24/7 might yield the max amount of PPCoins, but it's also the most volunerable one (wallet must be decrypted for coin generation)).

alice finds the most blocks. 520 confirmations + 30 days of no-stake makes a maximum of 12 blocks per year from the same coins. compound interest makes no impact at all with 12 compounds and 1% ROI .she makes max 1.00437%

bob makes a perfect 1.00% but loses a lot of stake and risks not finding a block in that week - than he starts loosing, but not much. if he finds first block after 3 years he loses 0.03%

charlie makes 1.00-1.00437% depending how often he finds blocks

actually, they can find much more blocks, as parts of wallet have different age, but its just as running many wallets, there is no difference in  ROI.

fuck deeponion, fuck bitcoincash, all glory to one BITCOIN
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April 11, 2013, 03:01:56 AM
 #3

Have two wallets, treat one as a savings account, treat the other as a checking, live life normally  Smiley
ripper234 (OP)
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Ron Gross


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April 11, 2013, 11:18:51 AM
 #4

http://bitcoin.stackexchange.com/questions/9540/are-all-strategies-to-mine-ppcoin-proof-of-stake-blocks-equivalent#comment12527_9550

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April 11, 2013, 01:03:13 PM
 #5

After 3+ months, you don't have a better chance of finding stake.
ripper234 (OP)
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Ron Gross


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April 11, 2013, 04:14:57 PM
 #6

After 3+ months, you don't have a better chance of finding stake.

I see.
Was the concept of "Stake Mining Pools" discussed?
Perhaps using some protocol feature to ensure the pool can't steal my funds, but only sign?

I don't want to keep a live wallet open, but I want my funds to generate interest for me and contribute to network safety. The obvious solution is pooling funds at one very secure wallet ... but there has to be features that prevent theft by the pool operator.


Please don't discussing the strikethroughed text on this thread, it's off topic and deserves its own thread.
I opened one.

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