[ANN][PHS][50% PoS] PhilosopherStone | NoPremine |10 month Dist | 1.6.4.1

[mighty jol]

how do i know i am actually minting when wallet is unlocked? i have a positive mintweight but it says "you are trying to mint 0 stone" at the moment. and 0 in belowweight.

so what does mintweight actually refers to? how do i know i am minting?

[1714835326]

1714835326

[1714835326]

1714835326

[Palmdetroit]

how do i know i am actually minting when wallet is unlocked? i have a positive mintweight but it says "you are trying to mint 0 stone" at the moment. and 0 in belowweight.

so what does mintweight actually refers to? how do i know i am minting?

Hi,

I actually have been thinking of better ways to communicate what these actually mean, for now I just wanted the basics to show, and they are more estimates then exact, but how it works:

You get 100 stones sent to wallet.
Each day you have 100 below-weight added (can see number increasing over time).
Around day 5 you have 500 below-weight and then it will move to mint-weight (you waited 5 days and can now mint). However it may take 10-15-20 days to actually mint depending on the network and the stake amount.

So at day 6 you have 600 mint-weight and can generate less than 1 stone (will show as 0).
at day 8 you should have 800 which means you can generate 1 stone.


Hope this helps in some way. If anyone has suggestions on how to make it easier, or want more numbers to show let me know.

BTW, for every 730 stones you have you will generate 1 stone per day over time.

[deuce65]

But what does mint weight and below weight actually mean?  For instance, I look at my wallet.  It has my balance of course, and it also has my stake.  My stake is, and has always been, 0.  This number never changes. 
It says minting, but minting 0 stones.  Mintweight number changes all the time, it goes up sometimes and other times goes down, without any other change in my wallet.  There is no indication why it goes up sometimes, and down others, or what it is. 
There is also belowweight.  Belowweight started out high, and has steadily gone down each day.  Again, no idea what it actually is. 

I want to like this coin, I really do.  But when I look at these terms and numbers in my wallet, and no one can tell me what they mean or what they do, it makes me want to just sell them and move on to one of the hundreds of other coins where the devs can at least tell me what the numbers mean.

[mighty jol]

thank you for the answer paldetroit,

I think i get this a bit (i got about 100 stones in my wallet so the example you choose is perfect ^^). I had my stone for 7 days now, and mintweight is about 200 (which is the 500 belowwheight time + 200 mintweight) and it shows 0 on the stone i am trying to mint because it's actually below 1 and doesn't show digits.
At 8 days i would have 300 mintweight (500bw+300mw=800 coin age ) and it would show i am trying to mint 1 stone.
If i had 730 stones and made the count of minted stones after a large period of time and average it per day, i would have one stone per day (does this number evolve with moneysupply?)

so:

belowweight: amount of coin-age i have into my wallet at the time that is not yet ready to be minted
mintweight: amount of coin-age i have into my wallet at the time and is ready to mint but might take more than 15 days to do so.
stones you are trying to mint: the amount of stones i would get if i minted all my actual mintweight at the same time (which is an average again i suppose)

hope i got this the right way,
good weekend to all

[DKdance]

We need a couple of people to take the task of getting PhilosopherStone coinpayments.net services or some other alt coin processor so that we can take PhilosopherStone to the next level of a truly transacting coin instead of just the BEST SAVINGS CRYPTO COIN in existence.  -digeros

If there is something not related to coding that I can do PM me, if not, sorry of not being able to help.

Hi there !

I dislike which markets I'm active on be known. But the stones need some support. In truth, they have a support because the low price isn't so easy to break. Some little whales are very interested by buying it at a its lowest price and not many people want to sell at this price. Now, it's about 0.00009 BTC / stone

You can check at http://coinmarketcap.com/ n.89 1 PHS worth 0.045 $, In truth, it is 0.00009 BTC at 504 $ / BTC is 0.05 $. It's one of the biggest small currencies. You don't need to understand what means $ 5e-06 to know the value. As you can check at http://www.coinwarz.com/exchange-charts/philosopherstone-exchange-rate-chart You can easily determine a price PHS will reach soon. I mean that considering the PHS price will easily be above 0.00016 BTC / stone doesn't sounds crazy I think. So 1 stone at 0.00016 BTC with a BTC price of 600 $ (wich is a low BTC value) worth 0.1 $. Useless to talk about how profitable it will be for the ones who buy now if the value get above 0.0002 BTC again. or with a BTC value > 680 $.

As you can see at coinwarz PHS price is very low. The best buying price I got in the past days is 0.00006002 BTC / stone. About 12 hours ago the price went to 0.00012999, more than the double. Some whales make quick profit because the price is low and easily jump to the double. So many greedy traders work for keeping the price low just to buy a lot because the double of 1000 $ is better than the double of 100 $.

I'm not a scamer. I dislike to invite people to buy something that I want to buy when it's cheap. Because I think the price will grow up and I don't have a lot of sell orders, I think my stones have a better time in the wallet instead of into limit orders ^^. SO IT'S IMPORTANT Don't just buy the sell orders, because people will replace these sell orders to make a quick profit and the price won't go up. And you'll be afraid of your new investment. An other important thing is about the buying price race. If you simply cancel each order you place to replace it 1 satoshi more than the best price. Then the price is arificially up. Someone will sell you and will cancel his buy orders to buy what he/she sold you at a higher price. I do that. To invest in tradings is an affair of patience. You must consider the price can fall AND rise. If you just buy sell orders you will regret the price fall. If you only place buy orders you could miss the rise up and regret it. At you to dose your orders considering the price can rise AND fall.

I hope that can help you in your investments. You can disagree with me, maybe you can help me too if I'm wrong on some point. But don't blame me please. I just try to share my knowledge and not to push up people to buy or sell. But if you're a PHS holder or investor. It's time for buying. But do it cleverly or you'll make some greedy people rich.

9eskhpgJUiksokqmaVvZwYMbNErK4MokGH

[forzendiablo]

i found this coin not logn ago but.. loving it!

[duola9527]

Awesome work. downloading new blockchain using v1.4 client + picked up a couple thousand PHS for cheap over at Cryptsy

[deuce65]

how do i know i am actually minting when wallet is unlocked? i have a positive mintweight but it says "you are trying to mint 0 stone" at the moment. and 0 in belowweight.

so what does mintweight actually refers to? how do i know i am minting?

Hi,

I actually have been thinking of better ways to communicate what these actually mean, for now I just wanted the basics to show, and they are more estimates then exact, but how it works:
Hope this helps in some way. If anyone has suggestions on how to make it easier, or want more numbers to show let me know.

BTW, for every 730 stones you have you will generate 1 stone per day over time.

This answer makes no sense and is not at all what I can see happening.  Looking at my wallet, I sent 200 coins to it to experiment with 10 days ago.  Stones, whatever we are calling these things.  They have been there for exactly 10 days now. 

"You get 100 stones sent to wallet.  Each day you have 100 below-weight added (can see number increasing over time)."

That isn't what is happening.  I started off with below weight of 700 (how it came up with that number I have no idea and no one else seems to either).  According to you this number should go up, what, 100 a day?  200 a day?  But it doesn't, the number goes DOWN.  It is now down to 157.  Actually, now 156 in the time it has taken me to type this.  This is the complete opposite of what you are saying should happen. 

"Around day 5 you have 500 below-weight and then it will move to mint-weight (you waited 5 days and can now mint)."

Again, this isn't what is happening.  I STARTED with mint-weight.  Nothing moved from below-weight to mint-weight.  Mint weight started out around 20ish THE DAY I GOT THE COINS and has gone up since.  But it doesn't go up in any orderly fashion, there doesn't seem to be any correlation to below weight, time, stones, nothing.  It is random as far as I can tell. 

"However it may take 10-15-20 days to actually mint depending on the network and the stake amount."

What does stake have to do with it?  Yet another term included in the wallet that there is no documentation of.  5 days, 10 days, 20 days....which is it?  And why?  And when does stake go up?  I have twice as many stones as in your example, have waited twice as long, and have 0 stake still.  When will this number change?  What does it do when it does change?

"So at day 6 you have 600 mint-weight and can generate less than 1 stone (will show as 0).
at day 8 you should have 800 which means you can generate 1 stone."

Well that may be how it is supposed to work but that isn't how it does work.  I have twice as many stones as that, have waited twice as long, and have not minted anything.  And my mintweight has actually now gone down from 87 to 83 in the time it took to write this.  beloweight went down again also, to 155 despite not doing anything. 

So yea. 

[DKdance]

This answer makes no sense and is not at all what I can see happening.  Looking at my wallet, I sent 200 coins

[...]

So yea. 

Do you unlock your wallet for minting ?

[DKdance]

CHEAP PHS ! GET ON THE EARLY TRAIN ! THAT IS THE REL POS CURRENCY ! 

[flyaway2sky]

What does stake have to do with it?  Yet another term included in the wallet that there is no documentation of.  5 days, 10 days, 20 days....which is it?  And why?  And when does stake go up?  I have twice as many stones as in your example, have waited twice as long, and have 0 stake still.  When will this number change?  What does it do when it does change?

"So at day 6 you have 600 mint-weight and can generate less than 1 stone (will show as 0).
at day 8 you should have 800 which means you can generate 1 stone."

Well that may be how it is supposed to work but that isn't how it does work.  I have twice as many stones as that, have waited twice as long, and have not minted anything.  And my mintweight has actually now gone down from 87 to 83 in the time it took to write this.  beloweight went down again also, to 155 despite not doing anything. 

[DKdance]

What does stake have to do with it?  Yet another term included in the wallet that there is no documentation of.  5 days, 10 days, 20 days....which is it?  And why?  And when does stake go up?  I have twice as many stones as in your example, have waited twice as long, and have 0 stake still.  When will this number change?  What does it do when it does change?

"So at day 6 you have 600 mint-weight and can generate less than 1 stone (will show as 0).
at day 8 you should have 800 which means you can generate 1 stone."

Well that may be how it is supposed to work but that isn't how it does work.  I have twice as many stones as that, have waited twice as long, and have not minted anything.  And my mintweight has actually now gone down from 87 to 83 in the time it took to write this.  beloweight went down again also, to 155 despite not doing anything. 

Same, Do you unlock your wallet for minting ?

[DKdance]

See that, printscreen just right now !!   0.35 is an orphan. 2.65 is the minted stones from 205. And as you can see my wallet is unlocked for minting.

[DKdance]

And 0.15 more from 6.6 stones 

[mighty jol]

Nice one Dkdance, mine just staked too in less than 2 weeks so i'm really hapy with it ^^ (how do i know if it's an orphan block? how can i avoid producing them?)

to deuce95: actually i understand your confusion as i go trough it myself, pos is a really complicated process and being in for a few days does'nt allow you to get evry piece of the mechanism at first glance.
Since palmdetroit seems to be actively seeking better ways to improve the wallet and those "minting information" (don't know how to call it); i guess all you have to do is sit on your stones and wait for them to mint whatever the numbers say....

From what i got in all the pos coins forums, the stake adjusts themselves accordingly to the time youkeep your coins/stones so it doesn't matter if it stakes in 10-20-30 days because you will be rewarded accordingly.

like pow there is a "random" factor that comes play with the equations (but honestly we wouldn't be in alt-coins if a little uncertainty were to kill our hopes all around )

Just sit on the coins and wait, in some times from now a new wallet with better interface will pop up and we'll all be smarter about this :p

good saturday all

[Just4andy]

Wonderful, thanks a lot. Using the same idea as the dev of HBN?  Wink Not that it's bad, quite the contrary, as my favorite coins happen to be HBN and PHS

[mighty jol]

OMG just downloaded hbn wallet, it's taking ages to sync, i'd be dead by the time it's ove
i like how the hbn price moved on the last outbreak tought and anyway pos coin are my new hobby i think

for DKdance: how did you get your wallet to have different colors (looks cool)

[Makitaki]

@ Just4andy: why did you repeat my comment out of context? Don't you have your own words to say?
That was said when a new PHS wallet was released dome days ago.

[Palmdetroit]

Unofficial Mac client now available thanks to Instacash !
https://sourceforge.net/projects/philosopherstone/files/PHS/MAC/
(zip md5 = 45f05ae393c83caab9fdeeea6603133e)

Instacash BTC donations: 18gUjVFxtrsBHMaTM9Z82riNbBHqatsJuX

[mighty jol]

awesome. any plan on an iphone client? (would minting even work on that?)