[CENT] Pennies launched

[Lauda]

Looks like they aren't as valuable as you might have thought--now who wants to bitch at me some more for buying them pre-exchange? Stake bug will be fixed in a future client, for now, enjoy the free cents.

well, hate to sound like a noob, but how do I generate a stake ? I transfered coins to wallet and setgenerate to true. Anything elsE? Do I have to create a cold wallet for a week? Thanks

I bought several thousands fot 0.00015000, nhow I will multiply it with PoS? just put it to wallet??

Yeah just leave it in the wallet.

[Magic8Ball]

All the CPU power used in it now seems a waste. Even quarkcoins gave some returns.

[barwizi]

please continue to dump   

[DimaziK]

CENT is dead?
Network: 0.487 MH/s 

[Lauda]

CENT is dead?
Network: 0.487 MH/s 

let it die.. 

[Dps23]

apologize I found it,
quck guide for people like me,
if appears error message that programm caanot be run because PthreadGC2.dll is missing
you have to download https://andarazoroflove.org/wp-content/uploads/2013/08/pthreadGC2.zip from http://andarazoroflove.org/cryptocurrency/pennies/
and save it to the same directory where piggy was installed

[shakezula]

please help
I cannot install Windows Setup File 0.9.2  - piggybank-0.9.2-setup nor Windows-Qt Style 0.9.2 http://andarazoroflove.org/cryptocurrency/pennies/
under windows 7 or 8 it appears error message that programm caanot be run because PthreadGC2.dll is missing

The .dll file is in a zip just to the right of the Qt file, sorry I forgot to package it with the main files and it will be included with the next release!

[Dps23]

please help
I cannot install Windows Setup File 0.9.2  - piggybank-0.9.2-setup nor Windows-Qt Style 0.9.2 http://andarazoroflove.org/cryptocurrency/pennies/
under windows 7 or 8 it appears error message that programm caanot be run because PthreadGC2.dll is missing

The .dll file is in a zip just to the right of the Qt file, sorry I forgot to package it with the main files and it will be included with the next release!

thank you for quick help

[daemonfox]

Shakezula,

ETA on new client?

Sad to see all the miners flee because of the massive PoS issue... noone wants to mine cuz they dont have any return compared to the ppl just relying on the massive PoS issue.

Price is stabalizing on Cryptsy but not where it should be yet since the PoS dumpers are flooding to cash in on the free coins.

When will this be fixed?

[Dps23]

Yeah just leave it in the wallet.

hello all friends of cute pink piggies!
I read instructions on http://andarazoroflove.org/cryptocurrency/pennies/ but maybe I overlooked it, what are POS conditions? I am holding the coins in my piggybank (in windows Qt application) but I still have the same amount of pennies. How long do I need to save my pennies to get some proof of stake?

[shakezula]

Shakezula,

ETA on new client?

Sad to see all the miners flee because of the massive PoS issue... noone wants to mine cuz they dont have any return compared to the ppl just relying on the massive PoS issue.

Price is stabalizing on Cryptsy but not where it should be yet since the PoS dumpers are flooding to cash in on the free coins.

When will this be fixed?

I haven't decided quite yet what to do with this. I kind of like that they aren't as valuable as assumed and I did mention they were "savings encouraged" and that stake was experimental. I don't like the idea of a hard fork, and there are a lot of other coins with huge caps--one simply values them at the size of markets' share.

This also means that they are more accessible to all (yea, my "hippie" ideas coming in to play here again) at a lower value and that anyone can buy a few, hold them and they will potentially multiply. I understand the desire for people to get back their "investment" in CPU time, but those are likely the same people who have amassed a huge hoard of pennies now as some compensation. Eh, hard.

Again, I haven't ruled just how I am going to deal with this, but for now, please accept them for what they are. If that means you don't accept them, that's fine too, dump your stash and move on to the next flavor-of-the-week coin, I understand and won't hold it against you. I will not abandon pennies and I am working on a couple more things for Pennies, including inexpensive physical penny coins--more information will be available on my website.

[maanto]

Yeah just leave it in the wallet.

hello all friends of cute pink piggies!
I read instructions on http://andarazoroflove.org/cryptocurrency/pennies/ but maybe I overlooked it, what are POS conditions? I am holding the coins in my piggybank (in windows Qt application) but I still have the same amount of pennies. How long do I need to save my pennies to get some proof of stake?

About 2 weeks. See: fortnight

Shakezula,

ETA on new client?

Sad to see all the miners flee because of the massive PoS issue... noone wants to mine cuz they dont have any return compared to the ppl just relying on the massive PoS issue.

Price is stabalizing on Cryptsy but not where it should be yet since the PoS dumpers are flooding to cash in on the free coins.

When will this be fixed?

I haven't decided quite yet what to do with this. I kind of like that they aren't as valuable as assumed and I did mention they were "savings encouraged" and that stake was experimental. I don't like the idea of a hard fork, and there are a lot of other coins with huge caps--one simply values them at the size of markets' share.

This also means that they are more accessible to all (yea, my "hippie" ideas coming in to play here again) at a lower value and that anyone can buy a few, hold them and they will potentially multiply. I understand the desire for people to get back their "investment" in CPU time, but those are likely the same people who have amassed a huge hoard of pennies now as some compensation. Eh, hard.

Again, I haven't ruled just how I am going to deal with this, but for now, please accept them for what they are. If that means you don't accept them, that's fine too, dump your stash and move on to the next flavor-of-the-week coin, I understand and won't hold it against you. I will not abandon pennies and I am working on a couple more things for Pennies, including inexpensive physical penny coins--more information will be available on my website.

I vote for keeping it as is. They should be worth 0.00010000 BTC at the very most at any time, IMHO.

[Dps23]

I vote for keeping it as is. They should be worth 0.00010000 BTC at the very most at any time, IMHO.

if someone mined tons of coins and now they have more tons of coins due to PoS maybe even 0.00001000 BTC is more than enough.

[aikklond]

If I have 500 pennies what kind of savings generation should I expect?

[Dps23]

If I have 500 pennies what kind of savings generation should I expect?

Don't let the 1 billion cap fool you. At 1 block a minute and 1 CENT per block. That's approximately 525,600 CENTS created each year by way of PoW so it'll take over 1,902 years to mine all 1 billion. Unless you're immortal the cap is not going to be reached in your lifetime.

I am not sure how much you can expect - you need to wait for two weeks to get to know it, at least. (I have to wait more one week to see what will happen.)
it seems that instead of waiting 1 minute to mine 1 CENT due to this Proof of stake we will have much more pennies and thus their price will be probably lower than one could expect in the beginning (if there were only 525,600 pennies in one year).
But it might happen some adjustment in future (made by the developer) if I understood correctly.

[barwizi]

looking at the exponential growth, looks like if mining continues and POs also continues with this trend, in ~5 years, we may reach the cap.

[Entz]

looking at the exponential growth, looks like if mining continues and POs also continues with this trend, in ~5 years, we may reach the cap.

POS is definitely exponential ( My wallet will have more than the total # of pow coins in a few months), POW will likely take a lot longer (mining is kinda pointless imo)

[Petr1fied]

On the one hand I'm sad because I bought 30K~ coins at too high a price, on the other hand I'm happy because I transferred those 30K coins to my personal wallet on 3rd September and those 30K became 302K by way of PoS today.

{
"account" : "",
"category" : "generate",
"amount" : 302964.00000000,
"confirmations" : 73,
"generated" : true,
"blockhash" : "9acf5f24944531afaf1b70fc16a824d9d58322630864c7c799fe596b3fb1fc82",
"blockindex" : 1,
"blocktime" : 1378995808,
"txid" : "1070b14c67c16ed0a6c009e0e280dd5efd1a0052622a409c6dfe16ce4e9bb378",
"time" : 1378995808,
"timereceived" : 1378995808
},

At least it brings my average cost per penny down substantially although I'd still need to average at least 1110 satoshi per penny just to break even so I have no intention of dumping them.

[Spoetnik]

Shake, you should have posted it here imo, it's a great concept and your QT client is very well done.  I don't blame you though, this forum can get spicey.

The biggest thing is that by ANN'ing it here, it implies that I'm wanting people (or better, in the case of most clones NEED people) to mine it. Although I do, I don't. Its a free market kind of thing, but its also a labor of love for me. I built this one just like the others, to learn more about these coins and to keep me busy.

I want people to mine it because they like its concept, or because they get a use out of it (even if that's simply collecting one of each coin). I don't want it mined because it will turn a quick profit or because some website says its worth "xx" or "yy."

Now as for specifications, the README.md has all the info but for those not wanting to check, here's the deal:

No decimals, no micro units, each penny is 1 coin.
1 CENT per block, 1,000,000,000 (this is 1billion, not 1 trillion) total cents via PoW.
Scrypt Jane (YAC) based, so mine via "Command Line Banking" and "setgenerate = true"
Progressive diff adjusment, targeted N factor retargeting at 1 week.

That's pretty much it. Enjoy.

bullshit excuse so you and crypts mods can flash / premine coins ..pathetic !

[FinShaggy]

Are there ways to earn this coin without mining, maybe by writing?