Bottlecaps 2.1 UPDATE REQUIRED - HARDFORK JULY 4 2014 to 200% Annual PoS

[Damnsammit]

Awww jeez... guess I might as well buy some more CAP at this price...

I was thinking the same thing....the bitcoin network takes a long time to confirm though....I should just maybe consider keeping one or two BTC on cryptsy for opportunities like this.

Yeah, I thought I had some BTC in cryptsy but I don't... so looks like I can't buy until I get home from work and have access to my wallet!

anything under the 2's is a steal IMO

[Pmalek]

100 caps sent from Epools did not come through yet on Cryptsy..

[kslavik]

100 caps sent from Epools did not come through yet on Cryptsy..

I sent to cryptsy from solo wallet at block 56,692 and it still no show even as pending (156 confirms now)

[Pmalek]

Same thing then... Damn!

[ISAWHIM]

Note to pool operators: Please put some detection in place: if you client has 0 connections, stop mining blocks.

If the wallet has 0 connections it should stop mining...

Should need 3 connections to mine...

Though I suspect the actual issue is that the three connections are not talking to the other wallets. (Not reporting "block found" to his wallet. (Thus, he had three connections to a computers which were also disconnected from the network.)

I don't know why the "mining" is 100% decentralized. That is just stupid. Doesn't take much to have one room or website that simply holds track of block-height & atomic-time... if your data doesn't match, or you don't get a response... then you shouldn't be mining.

Or, like I said... wallets should only be able to build one block, then have to wait for anyone else to find the next one, before they can build on that next block. Or only be able to build (confirm-qty - 1, block-height), before having to wait for ONE block to be built by another wallet. (Thus, they could never confirm any single tx/block alone.)

[ISAWHIM]

Should be hitting stake-coins today, around 10AM for me (gmt-5)... Or do they just turn into stake-coins?

Coins will only become eligible for stake at the 30 day mark. After that keep your wallet open for a chance of some getting staked. It may happen quick it may take longer. The longer you waitt the more likely up to 90 days where your odds dont increase

When you do get a block the coins used will move to the stake column and be unavailable until the block matures your reward we be for 5% of the staked coins

This sounds like pool-mining will be useless to stake coins...

Pools get the stake-coins, not us... unless we remove them ASAP...

But...

If we are mining in a pool, we are never getting stake-coin value, because we are not mining on our wallets, solo... thus.... no stake-coins. I assume then, that, by your words... coins just turn into staked coins. However you don't get any value for them, until you mine, and when you find a block... that block is thrown away? That is still unclear? Or do you get the 10 coins still, PLUS a percentage of staked coins?

So if all 5000 of my coins eventually turn into staked coins, I have 0 coins. But I get 5% of 5000 = 250, when I find a block? (If they were all matured for earnings?)

[Lauda]

Well the price is a steal now, it will be definently worth much more.

[kslavik]

Should be hitting stake-coins today, around 10AM for me (gmt-5)... Or do they just turn into stake-coins?

Coins will only become eligible for stake at the 30 day mark. After that keep your wallet open for a chance of some getting staked. It may happen quick it may take longer. The longer you waitt the more likely up to 90 days where your odds dont increase

When you do get a block the coins used will move to the stake column and be unavailable until the block matures your reward we be for 5% of the staked coins

I keep some coins at Cryptsy, do the get any stakes there?
Should I transfer all my coins to local wallet to get some stakes?
Do coins get any stakes if no solo-mining is done?
Do I see new stakes coins come in as new transactions?
Does it matter what coins are held old or new?
Does a coin get rewarded with stakes or an address which originally mined it?

[BitJohn]

Should be hitting stake-coins today, around 10AM for me (gmt-5)... Or do they just turn into stake-coins?

Coins will only become eligible for stake at the 30 day mark. After that keep your wallet open for a chance of some getting staked. It may happen quick it may take longer. The longer you waitt the more likely up to 90 days where your odds dont increase

When you do get a block the coins used will move to the stake column and be unavailable until the block matures your reward we be for 5% of the staked coins

I keep some coins at Cryptsy, do the get any stakes there?
Should I transfer all my coins to local wallet to get some stakes?
Do coins get any stakes if no solo-mining is done?
Do I see new stakes coins come in as new transactions?
Does it matter what coins are held old or new?
Does a coin get rewarded with stakes or an address which originally mined it?

Stake are mined coins so you don't get the stake in pools or exchanges. Its not that we don't want to its that its nearly impossible to see whose coins got staked and credit them to the individual. So yep I keep my stake coins in my wallets.

[butjust41day]

I keep some coins at Cryptsy, do the get any stakes there?

They are in Cryptsy's wallet. If they get old enough they can be staked by Cryptsy's wallet (if they have it unlocked for minting). It would require a lot of programming to track each individual coin, portion of coin and who it belongs to so it is unlikely you'll get any credit for any staked coins.


Should I transfer all my coins to local wallet to get some stakes?

That is a personal decision no one can make for you.  If you want all your possible POS rewards the answer is yes.

Do coins get any stakes if no solo-mining is done?

If you have your wallet unlocked for minting you can stake the coins. You do not need to be solo mining.

Do I see new stakes coins come in as new transactions?

Yes. It will say they are mined.

Does it matter what coins are held old or new?

Yes, coins must be held for a period of time (30 days) to be eligible for stake.

Does a coin get rewarded with stakes or an address which originally mined it?

Your wallet receives the reward if:

The coins are held by you in your wallet for 30 days, your wallet is unlocked for minting and you mint a POS block.



Note: Think of your wallet as your personal bank. If you keep your coins in your bank for a period of time (like a term deposit) they become eligible for an interest payment. There is a slight difference though at a regular bank the interest will be deposited in your account on a particular day or schedule. With minting it depends on variables like the  age of coins and difficulty level.

[ISAWHIM]

Does a coin get rewarded with stakes or an address which originally mined it?

Your wallet receives the reward if:

The coins are held by you in your wallet for 30 days, your wallet is unlocked for minting and you mint a POS block.

This line contradicts what is said above... and the issue of confusion...

"held in wallet for 30 days"... got that... lots of coins past 30 days...

"unlocked for minting"... got that... I am a miner, I am always unlocked for minting...

"mint a POS block"... You said you don't have to be minting, just have it open for STAKE... Now you are saying we have to MINE a POS block to get STAKE rewards?

My question is... Do we get the 10-coins + stake-%, or just the stake-%?

My observation is this... If we are NOT SOLO MINING, we get no STAKE REWARD, even if all our coins are STAKE coins. (Coins that can NOT BE SPENT.)

The documentation still suggests that if I had 10 coins, and they "turn into" STAKE coins, thus I now have 0 normal coins and 10 stake coins. (Also implying that staked coins can not be spent, and they earn 0 if you are not MINING... Solo mining to your wallet, not mining in a pool, which earns the POOL staked credits from the staked coins.)

If my coins are going to start disappearing, turning into stake coins, that I could never mine solo in the future, then I fail to see how this offers any protection or is any form of encouragement to mine them. Unless the pools spread the earnings, based off mining work, for earnings from stake coins. If normal coins "turn in to" stake coins, then someone is going to be missing coins that they earned, unless the pools reserve all coins to not "turn in to" stake coins. (Since they "turn in" = "remove A and replace with B", pools will never be able to stake-mine, and solo mining won't be possible unless you have massive power. Thus, again, where is the security or incentive to mine them?)

Easier to understand...
Turn in to... = Turn windows 7 in to windows 8 = you have no windows 7 now, only windows 8 now...

Was that just a poor choice of words? "turn in to"?

BTW I have mined several blocks and have several blocks/coins that are "ready to stake" (30 days old)... Yet nothing indicates that any coins or blocks are being staked (0 staked coins)... How random is the selection? The wording suggests that "available for stake" coins will turn in to stake coins. There was no mention about THAT being random.

And, why does my wallet have to be unlocked and online... Is Santa Clause going to sneak in, and mine for me, turning my coins into staked coins... I have to leave the door open for him? Why does it not do this offline, or with a locked wallet, if we don't have to mine to be staked? How the hell do you know if our wallets are unlocked for mining, and have access? (Joke, but serious.)

[butjust41day]

I'll try to clarify it for you:

Mining is what your used to either as a solo miner of as a member of a pool.

Minting is something else. Once you stop thinking of it as mining and a completely separate concept no contradiction exists. What I said was you don't have to be mining that you just have to have your wallet open for minting (something different from mining). If you read back you'll see I said MINT a POS block (not MINE) to get your rewards. Mining is POW. Minting is POS.

Staked coins are not spendable until the POS block is confirmed. At that point they become spendable and their age has been reset to zero days. If you hold them for another 30 days they once again become eligible for stake. You are not loosing coins; but the coin age is what is changing (or being destroyed).

I can not answer why your wallet has to be unlocked for Minting. The designer of the software may have had very good reasons.

If your wallet is offline for a long period of time the coin age accumulates. It's my understanding that coin age as well as difficulty determine your chances of Minting a block. So as the coin age increases your chances of minting a block increase. This is why a wallet that has been offline for a long time might quickly mint a block once it is open and unlocked.

[kslavik]

I keep some coins at Cryptsy, do the get any stakes there?

They are in Cryptsy's wallet. If they get old enough they can be staked by Cryptsy's wallet (if they have it unlocked for minting). It would require a lot of programming to track each individual coin, portion of coin and who it belongs to so it is unlikely you'll get any credit for any staked coins.


Should I transfer all my coins to local wallet to get some stakes?

That is a personal decision no one can make for you.  If you want all your possible POS rewards the answer is yes.

Do coins get any stakes if no solo-mining is done?

If you have your wallet unlocked for minting you can stake the coins. You do not need to be solo mining.

Do I see new stakes coins come in as new transactions?

Yes. It will say they are mined.

Does it matter what coins are held old or new?

Yes, coins must be held for a period of time (30 days) to be eligible for stake.

Does a coin get rewarded with stakes or an address which originally mined it?

Your wallet receives the reward if:

The coins are held by you in your wallet for 30 days, your wallet is unlocked for minting and you mint a POS block.



Note: Think of your wallet as your personal bank. If you keep your coins in your bank for a period of time (like a term deposit) they become eligible for an interest payment. There is a slight difference though at a regular bank the interest will be deposited in your account on a particular day or schedule. With minting it depends on variables like the age of coins and difficulty level.

Thank you for you answers. Now I have couple more questions:

- How do I enable CAP client for POS mining/minting? and does it make sense to do if I have 0 stakes right now.
- Prof of stakes difficulty is much lower than POW difficulty. Right now, when I do solo mining, target Difficulty is POW and not POS. In order to mine POS, the client must send POS difficulty when getwork is requested. Do I need to configure something inside the client or client is smart enough to send lower POS difficulty to the miner. If POW is found, when POS target is set, does it get counted as POW block?
- Does getinfo->stake command show how many coins are eligible for POS mining?

[Damnsammit]

Glad to see everyone clearing up the PoS definition as I found it to be very confusing as well...

But, umm... what the fork is up with the forking forks?

[Jaden]

Update on the unrewarded blocks situation: I got BigVern immediately on chat at cryptsy - one of the programms which checks for missed blocks wasn't running - already solved.

You're welcome goodhopes. I'm just checking in now. Did we get paid for the missing payouts?

[butjust41day]

Thank you for you answers. Now I have couple more questions:

- How do I enable CAP client for POS mining/minting? and does it make sense to do if I have 0 stakes right now.
- Prof of stakes difficulty is much lower than POW difficulty. Right now, when I do solo mining, target Difficulty is POW and not POS. In order to mine POS, the client must send POS difficulty when getwork is requested. Do I need to configure something inside the client or client is smart enough to send lower POS difficulty to the miner. If POW is found, when POS target is set, does it get counted as POW block?
- Does getinfo->stake command show how many coins are eligible for POS mining?

On the menu open Help, then Debug Window and then select the tab that says Console you type the following at the input bar:

walletpassphrase yourpasswordgoeshere 99999999 true

Note: 99999999 just represents how long to keep your wallet unlocked and true just means yes you want to Mint

This will potentially stake all your coins if you Mint a block (The number of coins staked will show up on the overview tab when you Mint a block...once that block is confirmed they will return into your balance). I am unsure of the exact benefits if you unlock the wallet for minting if you have no coins available for stake. Obviously there is no direct benefit because you will not mint a block. I know when you are minting it benefits the security of the network; but, in a situation where you cannot actually mint a block is there any benefit to the network? Someone else will have to answer that.

If you want to ensure some of your balance is not staked (for example you planning on selling some on Crypsty and don't want them tied up while a block is being confirmed) in the Console you can reserveabalance and this balance will not be eligible to stake.

You do not need a miner running for POS it is separate. When you've unlocked your wallet and enabled minting the wallet takes care of everything.

I believe getinfo will only show coins that are currently staked. What I mean is if you find a block those staked coins are shown on the overview tab until 520 confirms of the block. The command getinfo will just give you the same number as on the overview tab. Now that only answers half your question. I'm not sure if there is away to determine how many coins are eligible at this moment. I do know that if you reserve a balance it at least gives you some idea how many are eligible; but, the coin age is not known. It would be a great feature to add to the wallet so a coin holder can know exactly where they stand.

[BitcoinFX]

Thank you for you answers. Now I have couple more questions:

- How do I enable CAP client for POS mining/minting? and does it make sense to do if I have 0 stakes right now.
- Prof of stakes difficulty is much lower than POW difficulty. Right now, when I do solo mining, target Difficulty is POW and not POS. In order to mine POS, the client must send POS difficulty when getwork is requested. Do I need to configure something inside the client or client is smart enough to send lower POS difficulty to the miner. If POW is found, when POS target is set, does it get counted as POW block?
- Does getinfo->stake command show how many coins are eligible for POS mining?

As above post ^^  

If your CAP wallet in not encrypted with a pass phrase then any balance older than 30 days can mint PoS blocks.

If your CAP wallet is encrypted the padlock text will show 'wallet is encrypted and currently locked'. You can unlock your wallet for PoS minting in the qt client by going to Help > Debug Window > Console and typing the following:

> walletpassphrase yourpasspharse 99999999 true

'yourpassphrase' is your pass phrase and the 99999999 number is just a long time to leave the wallet unlocked.

If you did this correctly the padlock text hover over will show 'wallet is encrypted and currently unlocked', if you have an eligible PoS balance you should see some of you balance move to stake (probably within a few hours, if not its worth restarting the client every 4 hours or so, if your really keen to get your first PoS block). When the PoS block is fully confirmed your balance will be re-credited with the stake and the PoS.

Your eligible PoS balance (coin age) resets when it has been staked i.e. it will take another 30 days to generate more stake from the same balance.

If you don't want to stake all or any of your coins then you can add reservebalance=100 (example) to your bottlecaps.conf i.e. if you have a 1000 balance eligible for PoS minting (more than 30 days coin age) if you set reservebalance=100 then only a maximum of 900 of your balance will be staked.

Some PoS coins require a .bat to unlock and encrypted wallet when using 'bitcoind'. Hope that helps.

[leroy_k]

wallet isn't getting anymore blocks with or without addnode in .conf. anyone else having dramas? stuck at block 50840.

[Lauda]

CAP is really really cheap now, bought some more!

[ISAWHIM]

Thank-you for the MINTING and MINING thing... That helped a lot more than the other things, and clarifies a lot... (Though, mining results in minted coins... This just re-writes the definition. I got what you were saying.)

Mining, your coins solo, or in pool...
- Once they "stop moving" they "begin to age". (Move them to your wallet ASAP, from pools.)
- Once aged, they "have the ability to become/spawn staked coins" (That is still unclear. If you loose a coin to create a stake-coin.)
- Once a stake-coin is aged, it "has the potential to reward as a mint" (Unclear here... it creates a normal coin?)
- Staked coins are minting, not mining, and can only ALSO go into an unencrypted wallet or unlocked wallet. (If locked, the MINT will fail, just as MINING fails to a locked wallet.)

wallet isn't getting anymore blocks with or without addnode in .conf. anyone else having dramas? stuck at block 50840.

I am on block 57394, the one showing on "CoinChoose"... I have not had any problems mining.

Delete your blocks and rebuild.

This is my config...

splash=0
server=1
gen=0
testnet=0
daemon=1
maxconnections=10
listen=1

addnode=186.95.162.209
addnode=70.98.114.229
addnode=188.165.211.65
addnode=199.192.205.46
addnode=176.34.210.88
addnode=70.69.238.84
addnode=70.98.114.237

Only 2 of those connections above actually connect to me. The other 8 connections are just from listening. If you only have those connections, and tell it to only connect to 7, and do not listen... you will be like me. Waiting all day for a connection, because those are not responding to anyone. So much for "trusted", apparently they are not "listening" or are only listening to 100 connections out of the 1000 trying to connect.