|
tx42
|
 |
January 04, 2014, 03:20:24 AM |
|
So what would happen if a group of people gained 51% of the CENTS out there? Cause it's very odd someone is still buying up trillions as fast as they're being sold at .00000001 XPM even with XPM being double the price now.
I think something big is cooking.
I think cryptsy bundles all of the buy orders that are exactly the same price into the same line. In other words, this could be dozens of people trying to all buy cent at the same price. |
█ █ ██ ███ ███ ████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████ ███ ███ ██ █ ██ █ ██ ███ ███ ████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████ ███ ███ ██ █ █ |
|
|
cisengineer
Member
 Offline
Activity: 99
Merit: 10
|
|
January 04, 2014, 03:38:18 AM |
|
I really wish more people would take the time to read the PoS whitepaper...
There is no magic... stake is a reward for participating in the network...
The point of stake is for users to hold coins and have the client open a lot more often than a normal PoW coin would. The object is to stave off 51% attackers because so many people have valid nodes working by keeping their wallets online.
To encourage this, PoS will take a block of coins in the wallet that has met a certain time criteria, and will ATTEMPT to use the CPU to MINT a PROOF OF STAKE BLOCK... this is a valid block in the chain... just like a normal PoW block. PoS blocks can contain and confirm transactions just like a normally mined PoW block, and thus must also meet the same criteria as a PoW block, as in it must be accepted by the blockchain and all the other peers... it is possible to have a PoS block orphaned because another block was generated at the same time by another user.
The whole idea was created for PPC so that one day... no hardware would ever need to be used to mine blocks when the final PoW block is minted... a more energy efficient chain can be maintained and transactions verified just by users keeping their wallets alive and PoS blocks minting. That is why there is even a separate difficulty associated with PoS minting compared to PoW minting.
So yes, all you need to do is transfer your coins to your wallet and wait... keep it open or open it back up on day 7-8 and let it stay on line. Later, you will see blocks show up and will credit you stake coins.
Thank you for the concise yet detailed explanation so I don't have to go read that whitepaper. |
|
|
|
|
Iwerehappy
Newbie
Offline
Activity: 16
Merit: 0
|
|
January 04, 2014, 04:35:14 AM |
|
I've withdraw 0.1 billion of centcoins from Cryptsy, but received nothings. There are still bugs in wallet client 0.10.0.0.
|
|
|
|
|
|
meta.p02
|
|
January 04, 2014, 04:57:53 AM |
|
On the new year's day I realised that most of my outputs are 170 million in size, meaning they won't be able to generate 10x stake...  Saddening... I thought I would be able to get 20 billion after Jan 8, now it seems I'll only be able to get 8 billion... |
|
|
|
bg6471
Member
Offline
Activity: 70
Merit: 10
|
|
January 04, 2014, 05:41:44 AM |
|
I've withdraw 0.1 billion of centcoins from Cryptsy, but received nothings. There are still bugs in wallet client 0.10.0.0.
I'm pretty sure max withdrawal at a time is 99,999,999, and if so, you went over the limit and Cryptsy should have given you an error. Are you sure your funds are not still in your Cryptsy account? |
|
|
|
|
|
Peacefrog
|
|
January 04, 2014, 06:25:01 AM |
|
asking again because no one could help me, I've never had to update a qt before so i would really like to not mess this up.
I just need to know how to how the update works. my 0.9.6 wont connect to a chain so i'm hoping i can just update the client. any help would be great
|
|
|
|
bg6471
Member
Offline
Activity: 70
Merit: 10
|
|
January 04, 2014, 07:34:08 AM |
|
asking again because no one could help me, I've never had to update a qt before so i would really like to not mess this up.
I just need to know how to how the update works. my 0.9.6 wont connect to a chain so i'm hoping i can just update the client. any help would be great
I just extracted the new client into a different directory, opened up the new qt, and it seemed to pick up my wallet just fine |
|
|
|
|
xchange
Member
Offline
Activity: 73
Merit: 10
|
|
January 04, 2014, 10:36:00 AM |
|
Dear Petr1fied and Cat_man,
I use the 10.0 ver., but it has been in sync few days, and the blocks sometimes less and sometimes increase.
And, when I receive interest(Savings Interest ***** CENT), but after a few min it disappeared(become 0 CENT), and the Savings has not increase, why?
Many thanks.
|
|
|
|
|
|
bittick
|
|
January 04, 2014, 10:48:15 AM |
|
cant find the fucking wallet anywhere.
what will I do with my millions now? ;/
|
|
|
|
Iwerehappy
Newbie
Offline
Activity: 16
Merit: 0
|
|
January 04, 2014, 10:49:22 AM |
|
I've withdraw 0.1 billion of centcoins from Cryptsy, but received nothings. There are still bugs in wallet client 0.10.0.0.
I'm pretty sure max withdrawal at a time is 99,999,999, and if so, you went over the limit and Cryptsy should have given you an error. Are you sure your funds are not still in your Cryptsy account? Sorry. After running the client wallet for almost two days for a complet synchronization, it shows I have received my 0.1 billion coins from Cryptsy. I withdrawed 0.1 billion of cent, o.o5 billion once a time, two times altogether. Sorry not expressed the whole thing in a clear way. ---------------------------------------- cent: PQzKYxc4c9e9oz2h9stdLr5cC6Br1iq6Jv |
|
|
|
|
cryptohunter
Legendary
Offline
Activity: 2100
Merit: 1167
MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
|
|
January 04, 2014, 11:31:23 AM |
|
No. Read it from the source... go google Proof of Stake whitepaper. If you cannot digest it in words why do I need to go out of my way to make you a picture book?
Well this was a great ride people. Should I keep staking my 3 trillion CENT or should I sell it off and allow the person(s) that are buying it up at a great pace to control 51% of the coins as well as the network hash rate? Sell half at least because everyone else will be dumping as soon as the monster stake rewards are done. Even if people all held and just sold on their new interest i doubt there would be enough purchasing to lift it above 1 or 2 on the xpm market. How many trillions are the out there is what i wonder? |
|
|
|
|
Desten
|
|
January 04, 2014, 02:52:34 PM |
|
How many trillions are the out there is what i wonder? If someone will setup abe for cents and process blockchain maybe he can answer that question.. blockchain must have this info |
|
|
|
|
barwizi
Legendary
Offline
Activity: 882
Merit: 1000
|
|
January 04, 2014, 03:56:45 PM |
|
the thing is, if cryptsy does not update their wallet in time, even if you keep the old version, you and others using the old wallet will connect to each other and stake, then you can sell. the fork is dependent on mutual understanding thst the fix is needed. but if more people choose to be greedy, then......lol
|
|
|
|
|
Chris001
Sr. Member
Offline
Activity: 448
Merit: 250
electroneum.com
|
|
January 04, 2014, 04:08:10 PM |
|
No. Read it from the source... go google Proof of Stake whitepaper. If you cannot digest it in words why do I need to go out of my way to make you a picture book?
Well this was a great ride people. Should I keep staking my 3 trillion CENT or should I sell it off and allow the person(s) that are buying it up at a great pace to control 51% of the coins as well as the network hash rate? Sell half at least because everyone else will be dumping as soon as the monster stake rewards are done. Even if people all held and just sold on their new interest i doubt there would be enough purchasing to lift it above 1 or 2 on the xpm market. How many trillions are the out there is what i wonder? YEAH SELL HALF LOL There are Trillions being BOUGHT on Cryptsy at 1. People are waiting for 12+ hours on Cryptsy to still get in at 1. SELL! So we can BUY  |
https://bitcointalk.org/index.php?action=trust;u=186785Here is the link to my trust settings here on forum. This trust system is very unfair. I make good on every deal Ive ever made. I had many, many deals as you can see and I never scammed anyone. All it takes is a random account to give you negative trust and youre screwed. Tomatocage has never even talked to me ever but when the random acct hit me with negative trust, Tomatocage came right behind him and marked neg trust again so obviously he was the one who did it. You can look at Tomatocage trust and see how many of his compeditors at the currency exchange thread he labeled scammers. I never scammed anyone. My trust was green over 20 before this. I hope it never happens to you because the mods cant help you.
|
|
|
crafty
Full Member
Offline
Activity: 336
Merit: 111
Bitcore (BTX) - The Future is Now
|
|
January 04, 2014, 04:15:06 PM |
|
I am getting 1 coin for every 12 hours and it reads as mined. I have 121 mil in my account.
Does it make any sense? I have 10.0.0 version.
|
|
|
|
|
Petr1fied
|
|
January 04, 2014, 04:39:20 PM |
|
the thing is, if cryptsy does not update their wallet in time, even if you keep the old version, you and others using the old wallet will connect to each other and stake, then you can sell. the fork is dependent on mutual understanding thst the fix is needed. but if more people choose to be greedy, then......lol
Cryptsy was informed of the update when the update was submitted to GitHub and are definitely using 0.10.0.0 I am getting 1 coin for every 12 hours and it reads as mined. I have 121 mil in my account.
Does it make any sense? I have 10.0.0 version.
Regular mining generates 1 coin per block found and is basically pointless now. How many trillions are the out there is what i wonder? If someone will setup abe for cents and process blockchain maybe he can answer that question.. blockchain must have this info You can get the answer from the client, just go to Command Line Banking, type getinfo and look at the moneysupply line (currently 34.2 Trillion) |
|
|
|
|
crafty
Full Member
Offline
Activity: 336
Merit: 111
Bitcore (BTX) - The Future is Now
|
|
January 04, 2014, 05:11:47 PM |
|
I am getting 1 coin for every 12 hours and it reads as mined. I have 121 mil in my account.
Does it make any sense? I have 10.0.0 version.
Regular mining generates 1 coin per block found and is basically pointless now. But I am not mining anything :-) |
|
|
|
|
Petr1fied
|
|
January 04, 2014, 06:07:29 PM |
|
I am getting 1 coin for every 12 hours and it reads as mined. I have 121 mil in my account.
Does it make any sense? I have 10.0.0 version.
Regular mining generates 1 coin per block found and is basically pointless now. But I am not mining anything :-) If you're getting 1 CENT transactions then yes you are. Go to Command Line Banking and type mintpennies false to disable it. |
|
|
|
|
|
alivecrypto
|
|
January 04, 2014, 11:03:42 PM |
|
I have a small question can I get answer please?
I real almost all the thread and seen a lot about stakes but I actually can't get so can anyone please describe me. I have 20 millions of CENT in my qt and my qt is updated verson and as wekl as I have those CENT from December so how much staked m I going to get?
Thank you in advance
|
|
|
|
|
seek4dream
|
|
January 05, 2014, 03:45:16 AM |
|
I have a small question can I get answer please?
I real almost all the thread and seen a lot about stakes but I actually can't get so can anyone please describe me. I have 20 millions of CENT in my qt and my qt is updated verson and as wekl as I have those CENT from December so how much staked m I going to get?
Thank you in advance
you must keep your wallet unlocked untile Jan 8th. you might get stake in the following days if you are lucky enough. |
|
|
|
|
|
