[ANN][YAC] YACoin ongoing development

[AGD]

Client need to be mining (and therefore without encryption) to earn the POS?

[smilez]

How do you stake yacoins?

[sairon]

Client need to be mining (and therefore without encryption) to earn the POS?

you could use encryption, see link below

How do you stake yacoins?

it's automagic, see https://bitcointalk.org/index.php?topic=187714.0

[smilez]

Pretty great.

So If I hold 5000 coins for 30 days, how big will the PoS be?

[sairon]

Pretty great.

So If I hold 5000 coins for 30 days, how big will the PoS be?

PoS reward is 0.05 coins per CoinYear, so if you stake 5000 coins with age of 30 days, it yields 150`000 CoinDays, which is ~410.96 CoinYears. 410.96 * 0.05 = ~20.55 coins.

So the formula is:

Code:

interest = (BALANCE - RESERVED_BALANCE) * DAYS_HELD / 365 * 0.05

You can choose to reserve some of your balance and not stake it (because it's unspendable for quite a long time when you stake it) and DAYS_HELD can be between 30 and 90 days.

EDIT: the actual formula in the source is a bit different, but this is a pretty close approximation.

[rbdrbd]

Yup, started to get stake rewards on my wallet. Much higher than I envisioned it being too, yay!

If you encrypt your wallet (which you should)  https://bitcointalk.org/index.php?topic=187714.0 is helpful for anyone interested in how to generate stake. I just have a yacoind that runs on a linux server I have so that it doesn't rely on my windows workstation being up.

[sairon]

Yup, started to get stake rewards on my wallet. Much higher than I envisioned it being too, yay!

If you encrypt your wallet (which you should)  https://bitcointalk.org/index.php?topic=187714.0 is helpful for anyone interested in how to generate stake. I just have a yacoind that runs on a linux server I have so that it doesn't rely on my windows workstation being up.

Looking forward to getting my first PoS reward in approx. 10 days, a whopping 0.000188 YAC!

[theprofileth]

I have a question regarding POS. So for the amount that is currently being staked, so do you receive POS payments each day after 30 days? Or was the estimate of 20.55 coins for 5000 over the course of a month? Or what? I am confused how often and how much you get payed for POS. Is it a slow continual thing or does it only appear in large chunks? Is the estimate given for the entire year or just the period that they are staked or just one block? See I know people have explained how to receive POS but nobody has explained really WHAT POS functions like.

[sairon]

I have a question regarding POS. So for the amount that is currently being staked, so do you receive POS payments each day after 30 days? Or was the estimate of 20.55 coins for 5000 over the course of a month? Or what? I am confused how often and how much you get payed for POS. Is it a slow continual thing or does it only appear in large chunks? Is the estimate given for the entire year or just the period that they are staked or just one block? See I know people have explained how to receive POS but nobody has explained really WHAT POS functions like.

You stake some CoinYears, they get consumed and you get a few coins. So if you have only one unspent input in your wallet that is 5000 YAC AND it's at least 30 days old AND you're PoS mining, you will LOSE all you accumulated CoinYears (by spending the only input you have) but in turn you can REWARD yourself in the same block a given number of coins as an interest, in addition to the old coins being sent back to yourself. So in this case you get back your 5000 YAC, but with 0 CoinYears (they're brand new coins!) and ~20.55 YAC as interest (also new coins). And now you wait another 30 days to be eligible for PoS block with 5020.55 YAC input and (5020.55 + 20.63) YAC output.

It works just like your bank account interest IRL, you get 5% interest per year with monthly^* payments.

EDIT
^*) Only if you have your client running at the time some of your inputs reaches 30 days of age. In reality, it can be delayed by up to 90 days without you "losing" anything, see below.

However, if you don't launch your YAC wallet at least once every 90 days, you will be losing eligibility for some money. For example, you log in afer 120 days and you have an unspent input 120 days old. There's a cap in the GetProofOfStakeReward function of 90 days, so you will only get interest as if this input was only 90 days old, not the full 120. Hope that made it clear.

[aso118]

I believe YAC is a direct branch from NVC and I believe NVC is preparing to change how their POS reward is calculated on June 20th.  Has there been any discussion, or thoughts, on changing how YAC POS?

[Boing7898]

Is there a way to generate vanity addresses for YAC?

[sairon]

I believe YAC is a direct branch from NVC and I believe NVC is preparing to change how their POS reward is calculated on June 20th.  Has there been any discussion, or thoughts, on changing how YAC POS?

None that I know of.

Is there a way to generate vanity addresses for YAC?

Yes, just use the -X switch in vanitygen.

EDIT: I've just generated this one: YACoinJ2PXNo6Q7rSMkZb5shaf82Wdbu5r

[forsetifox]

Network hash rate is almost to 60Mh/s. 50% hash rate increase in a couple weeks isn't too bad.

 

[Boing7898]

Network hash rate is almost to 60Mh/s. 50% hash rate increase in a couple weeks isn't too bad.

 

That's good to know!
Too bad YAC threads are almost never on the first page 

[smilez]

Yacoin needs an active developer community and marketing team. Where everybody does a little job of promoting/improving the coin

Like I did for example with my signature.

[Boing7898]

Yacoin needs an active developer community and marketing team. Where everybody does a little job of promoting/improving the coin

Like I did for example with my signature.

I created a thread on a big forum (HackForums)
If you're interested in reading it, here's the link: http://www.hackforums.net/showthread.php?tid=3505553
Only registered users can read threads though.

[AGD]

Yacoin needs an active developer community and marketing team. Where everybody does a little job of promoting/improving the coin

Like I did for example with my signature.

I created a thread on a big forum (HackForums)
If you're interested in reading it, here's the link: http://www.hackforums.net/showthread.php?tid=3505553
Only registered users can read threads though.

We will all end up beeing hacked, thanks!

[smilez]

What does it say? Can't seem to access that page.

[yummyfritos]

One thing that will help Yacoin is having a decent marketplace.
Currently, is there any one-stop location to look for people buying and selling with YAC?
We have trading for other crypto currencies, but there really needs to be a marketplace so people can do more with the coin.

There was a spreadsheet at one point. Is that all there is yet?

Is this subforum also able to be used?

If someone is looking to spend their YAC or has something he or she would like to try quickly selling with YAC, the overhead to put the item up should be very low, to encourage use beyond trading.

Yac does fit the need for miners who want an alternative to the GPU and ASIC rush.
Mining has been growing according to the recent network hashrate.

Plenty of people have acquired it through mining or trading.

Now let's make the Yac they've obtained work for them beyond speculation.

If Alice wants to sell an ebook for Yac, where would she go? If Bob wants to buy a Steam game for Yac, where would he go?

[cryptrol]

I don't think YAC needs a marketplace right now, as I don't think there is enough people to support it. What YAC needs ATM is :

• A community driven place, a place where people can find the software and documentation (AFAIK the yacoin.org is not updated anymore and run by someone that has nothing to do with the original developer)
• Active development .
• A public GPU miner (otherwise the network is always at risk).