HoboNickels - HBN - High Fast Stake - Version 2.0! More Secure, Less Intensive

[micax1]

Hi.

http://hbn.blockx.info/richlist/ is down (

This one is more stable - http://hbn.cryptocoinexplorer.com/rich

Thank you!



One more question to Tranz:
Set Max PoS Reward to 250.

does it mean I need to slit my coins into smaller chunks? for example 5000?
what is the most effective way to stake now, assuming i have 30000 for example?

Thank you!

[Tranz]

Hi.

http://hbn.blockx.info/richlist/ is down (

This one is more stable - http://hbn.cryptocoinexplorer.com/rich

Thank you!



One more question to Tranz:
Set Max PoS Reward to 250.

does it mean I need to slit my coins into smaller chunks? for example 5000?
what is the most effective way to stake now, assuming i have 30000 for example?

Thank you!

See here. https://bitcointalk.org/index.php?topic=303749.msg9552555#msg9552555

I would personally just leave them as 500 or smaller.

[mcdoom432]

Question, Does the coin age reset after it stakes? Thanks. The pos coins are very interesting.

[PressF1]

Question, Does the coin age reset after it stakes? Thanks. The pos coins are very interesting.

Yes, it does. And yes, they are.

[BainbridgeJ]

For anyone like me who is wary of messing about too much with a wallet, could anyone explain, in a simple step-by-step procedure, how to set the split and combine thresholds, using the start-up and config switches?

I understand that the current default setting is to split nothing below 5 and to combine if possible up to 20. I'd like to set it to the maximum setting i.e. no split below 10 and to combine up to 40.

[sandpaper]

For anyone like me who is wary of messing about too much with a wallet, could anyone explain, in a simple step-by-step procedure, how to set the split and combine thresholds, using the start-up and config switches?

I understand that the current default setting is to split nothing below 5 and to combine if possible up to 20. I'd like to set it to the maximum setting i.e. no split below 10 and to combine up to 40.

I would also love this. I tried on my own and was confused. Where do you set the commands from?

[mcdoom432]

Question, Does the coin age reset after it stakes? Thanks. The pos coins are very interesting.

Yes, it does. And yes, they are.

What is the minimum coin age for potential staking?
I have some that are 95 days and haven't staked they are 16 coin blocks. 
Whats the best block size for staking?

[georgidimitrov]

What is the minimum coin age for potential staking?
I have some that are 95 days and haven't staked they are 16 coin blocks. 
Whats the best block size for staking?

if coin age is 10 or more days your coins are ready to stake but your wallet must be unlocked

[Tranz]

For anyone like me who is wary of messing about too much with a wallet, could anyone explain, in a simple step-by-step procedure, how to set the split and combine thresholds, using the start-up and config switches?

I understand that the current default setting is to split nothing below 5 and to combine if possible up to 20. I'd like to set it to the maximum setting i.e. no split below 10 and to combine up to 40.

I would also love this. I tried on my own and was confused. Where do you set the commands from?

2 ways to do this.

First option
click start -> run -> type cmd. Then navigate to the qt.exe. on the command line start the wallet as follows:
HoboNickels-qt.exe -splitthreshold=40 -combinethreshold=20

Second option
create a .bat file in the same folder as the qt.ex and put this in it.
start HoboNickels-qt.exe -splitthreshold=40 -combinethreshold=20

[dickwhite]

Question for Tranz: I stake 24/7 and out of all wallets running, Hobonickels by far consumes the most memory -- over 500mb. Not a problem for me as I have plenty RAM. But maybe there is a memory leak in the code? Just curious.

[Tranz]

Question for Tranz: I stake 24/7 and out of all wallets running, Hobonickels by far consumes the most memory -- over 500mb. Not a problem for me as I have plenty RAM. But maybe there is a memory leak in the code? Just curious.

The amount of memory usage is linear depending on the number of blocks in the chain and the number of transactions in your wallet. I actually have a wallet with over 36,000 transactions and it has a total of 7 loaded wallets running and staking 24/7 and running S4C. At the time of writing this it is using 745,000K. Another one with only 259 transactions is using 359,000k

All wallets operate in the same way. Bitcoin has changed this slightly by doing some things regarding when to load a block into memory. It will load them as needed. But does not unload them. So it grows and grows until it is restarted.  HBN has 30 second block time so it is getting more of a hog as time goes on. I will be doing my best to address this going forward, but there will only be so much I can do.

This is also only a slight concern of mine, as the memory usage of HBN should grow linear as time goes on, but memory size and speed will continue to grow exponentially, as well as the cost decreasing exponentially. So eventually it will not matter much.

But can be a turn off for some people who have lower end computers or run many wallets.

[Tranz]

In case you have noticed, the PoS difficulty for has increased a bit recently. Sadly this is not due to a natural increase in the number of PoS blocks being generated. It is however, unfortunately due to a client on the network with an incorrect clock. They are creating blocks 1 hour in the future which is causing the difficulty algorithm to misinterpret how many blocks are actually being created in a set amount of time.

Version 1.5 will prevent this type of situation by limiting the time drift from 2 hours to 5 minutes.  As noted this will not take affect until Jan 17. In the meantime I will be sending an alert for people to upgrade to version 1.5. I will also include a note for users to check their clocks.  If the problem continues to persist for a few days. I can issue a "soft" fork of the time drift to begin rejecting these blocks via the checkpoint server. I would rather not do this but I will if necessary.

I'll continue to monitor the issue and advise as necessary.

Thanks.

[BainbridgeJ]

Question for Tranz: I stake 24/7 and out of all wallets running, Hobonickels by far consumes the most memory -- over 500mb. Not a problem for me as I have plenty RAM. But maybe there is a memory leak in the code? Just curious.

The amount of memory usage is linear depending on the number of blocks in the chain and the number of transactions in your wallet. I actually have a wallet with over 36,000 transactions and it has a total of 7 loaded wallets running and staking 24/7 and running S4C. At the time of writing this it is using 745,000K. Another one with only 259 transactions is using 359,000k

All wallets operate in the same way. Bitcoin has changed this slightly by doing some things regarding when to load a block into memory. It will load them as needed. But does not unload them. So it grows and grows until it is restarted.  HBN has 30 second block time so it is getting more of a hog as time goes on. I will be doing my best to address this going forward, but there will only be so much I can do.

This is also only a slight concern of mine, as the memory usage of HBN should grow linear as time goes on, but memory size and speed will continue to grow exponentially, as well as the cost decreasing exponentially. So eventually it will not matter much.

But can be a turn off for some people who have lower end computers, or run many wallets.

I'm wondering whether HBN's emphasis on encouraging small stake values is contributing to the problems spoken of here. The maximum coin block size to optimise Proof Of Stake is 250 HBN. HoboNickels consistently refers to this reward as a '~2%' stake once a coin block matures and not '~2% interest'. The reason given for this policy is that it will keep people in Stake mode longer - 24/7 for some - and this will help with network security.

I suspect that this might not be as effective as might be thought. The average number of active connections on the HBN network isn't that high, and some POS coins without maximum, coin-block, optimum stake sizes perform quite well by comparison in that area. I suspect that the difficulty in staking turns quite a lot of people away, who would otherwise significantly add to the security of the HBN network.

To have stake-splitting combined with predominantly small coin block size values leads to many, many, smaller calculations. Like a chain reaction. I should imagine that is a major contributor to the blockchain expanding. Is not blockchain saturation a security risk and a vulnerability for a form of attack?

Recently, I completed a full installation of the new HBN wallet on a 32-bit Windows XP machine with 8 Gb of RAM. It took nearly three days. I suppose that is to be expected for a wallet with a long-established blockchain, and HoboNickels has been around for longer than most. I have a faster i5 64-bit machine. The HBN Windows client is tagged as 32-bit. Will it run on a 64-bit machine with a 64-bit Windows7 operating system just as easily?

I found that the old, about to be phased out, wallet (v4.0.1) performed well. Transactions were fast and it was quick to load, although rather slow to stake. This has been my experience since first coming to HoboNickels in April. I hope that the fast stake v5 will be better. I've split 26,000 HBN into 10 coin-blocks of 500 HBN and the rest in 250 HBN coin-blocks - all with individual addresses to help keep track of staking. The 500 HBN and 250 HBN values were based on previously given advice.

I suppose what I am really trying to get at here is that I am sold on HoboNickels as a concept, but have some reservations. I would welcome stake-splitting with far higher parameters, if not phased out entirely, and the raising of the maximum optimum stake level to a much higher value, if not abolished altogether. I do not want to have to run my computers for long, extended periods in order to generate Proof of Stake. Certainly not 24/7. It doesn't fit in with my lifestyle. I prefer POS to be more like interest - there and easily accessible as of right - as opposed to being like the laborious, Proof of Work with a questionable break-even conciliation. That is too much like mining. I have better things to do!   

[BainbridgeJ]

In case you have noticed, the PoS difficulty for has increased a bit recently. Sadly this is not due to a natural increase in the number of PoS blocks being generated. It is however, unfortunately due to a client on the network with an incorrect clock. They are creating blocks 1 hour in the future which is causing the difficulty algorithm to misinterpret how many blocks are actually being created in a set amount of time.

Version 1.5 will prevent this type of situation by limiting the time drift from 2 hours to 5 minutes.  As noted this will not take affect until Jan 17. In the meantime I will be sending an alert for people to upgrade to version 1.5. I will also include a note for users to check their clocks.  If the problem continues to persist for a few days. I can issue a "soft" fork of the time drift to begin rejecting these blocks via the checkpoint server. I would rather not do this but I will if necessary.

I'll continue to monitor the issue and advise as necessary.

Thanks.

Your vigilance is much appreciated. Thanks. (Your last post crossed with my previous post, so I am repeating it here so as not to detract from of its importance).

[Tranz]

I'm wondering whether HBN's emphasis on encouraging small stake values is contributing to the problems spoken of here. The maximum coin block size to optimise Proof Of Stake is 250 HBN. HoboNickels consistently refers to this reward as a '~2%' stake once a coin block matures and not '~2% interest'. The reason given for this policy is that it will keep people in Stake mode longer - 24/7 for some - and this will help with network security.

That was the original wording of Thundertoe, circa 2013. I never changed it, as I thought it fit pretty well, and was easy to understand. I suppose I could change or remove it.

I suspect that this might not be as effective as might be thought. The average number of active connections on the HBN network isn't that high, and some POS coins without maximum, coin-block, optimum stake sizes perform quite well by comparison in that area. I suspect that the difficulty in staking turns quite a lot of people away, who would otherwise significantly add to the security of the HBN network.

Fair points.  But keeping the inflation rate constant is also a consideration. Staking on HBN network is still pretty easy.

To have stake-splitting combined with predominantly small coin block size values leads to many, many, smaller calculations. Like a chain reaction. I should imagine that is a major contributor to the blockchain expanding. Is not blockchain saturation a security risk and a vulnerability for a form of attack?

PoS and PoW work together to make 30 second block time. If we never had 1 PoS block created, we would still be at 1.4 million blocks.

Recently, I completed a full installation of the new HBN wallet on a 32-bit Windows XP machine with 8 Gb of RAM. It took nearly three days. I suppose that is to be expected for a wallet with a long-established blockchain, and HoboNickels has been around for longer than most. I have a faster i5 64-bit machine. The HBN Windows client is tagged as 32-bit. Will it run on a 64-bit machine with a 64-bit Windows7 operating system just as easily?

Yes 32 will work on either.  A 64 bit client will only work on 64.  My best time to sync from start, in the last few months, was 14 hours.  My worst time was about 3 days as well. And these was from the same network connection and very similar computers. The difference was the peers I was connected to in the former case were feeding me blocks faster, and I didn't have as many wallet transactions to independently verify, although still a few thousand.

I found that the old, about to be phased out, wallet (v4.0.1) performed well. Transactions were fast and it was quick to load, although rather slow to stake. This has been my experience since first coming to HoboNickels in April. I hope that the fast stake v5 will be better. I've split 26,000 HBN into 10 coin-blocks of 500 HBN and the rest in 250 HBN coin-blocks - all with individual addresses to help keep track of staking. The 500 HBN and 250 HBN values were based on previously given advice.

Nothing should change on the usability of the client. Some things that you couldn't do, such as import a private key and still use the gui, are now an option on 1.5 The staking algo has only been slightly changed from 1.4 to 1.5, the split/combine threshold should prevent the blocks from getting split to far down and causing to much CPU usage.

I suppose what I am really trying to get at here is that I am sold on HoboNickels as a concept, but have some reservations. I would welcome stake-splitting with far higher parameters, if not phased out entirely, and the raising of the maximum optimum stake level to a much higher value, if not abolished altogether. I do not want to have to run my computers for long, extended periods in order to generate Proof of Stake. Certainly not 24/7. It doesn't fit in with my lifestyle. I prefer POS to be more like interest - there and easily accessible as of right - as opposed to being like the laborious, Proof of Work with a questionable break-even conciliation. That is too much like mining. I have better things to do!   

Yes stake splitting will be increased in the future as noted. The max reward is likely to stay at 250 for the foreseeable future, if not forever.

I appreciate the feedback.

Thanks!

[PressF1]

I suppose what I am really trying to get at here is that I am sold on HoboNickels as a concept, but have some reservations. I would welcome stake-splitting with far higher parameters, if not phased out entirely, and the raising of the maximum optimum stake level to a much higher value, if not abolished altogether. I do not want to have to run my computers for long, extended periods in order to generate Proof of Stake. Certainly not 24/7. It doesn't fit in with my lifestyle. I prefer POS to be more like interest - there and easily accessible as of right - as opposed to being like the laborious, Proof of Work with a questionable break-even conciliation. That is too much like mining. I have better things to do!   

The way I understand it, the splitting plays an important role in securing the network, to raise the level too much could compromise it. Having no stake limit has the same effect. Another important issue would be inflation. The more small blocks there are, the lower the inflation will be, meaning your newly staked coins have some value and are more likely to keep that value too.

So in my opinion, these factors are pretty well balanced. It only requires time to stake small blocks or time to recombine manually. I my case I use an old net-book that does the 24*7 staking for me. With the screen switched off, it consumes about 15 watts. This setup requires hardly any effort nor costs much to run. Now and then, I recombine blocks if they get really too small and that's it. I do the same with cap and I can afford another life as well! 

[BainbridgeJ]

Thanks! I am hanging on in there. I do have an old net-book that I could use eventually, when I get around to it. At the moment, I am quite happy running HoboNickels on a couple of spare, desktop computers. The net-book idea is a is a good one. A net-book could also function as a mobile wallet while an Android version is being developed. I see an Android wallet as the next, big leap forward.

HoboNickels is gradually becoming a coin easier to use, rather than simply holding onto to accumulate. I suppose this is part of the plan.  As I mentioned before, I like the HoboNickels concept. It has fired my imagination!

[Armis]

could I be pointed to the merchants that accept HBN

[BainbridgeJ]

could I be pointed to the merchants that accept HBN

http://www.hobonickels.info/accepts.php

and if you are looking for more, why not vote for HoboNickels to be included on Coinpayments:

https://www.coinpayments.net/vote

The vote ends on December 5, 2014 at 12:00:00pm EST ... and HoboNickels are listed!

Why limit it to merchants? HoboNickels could be an excellent medium of barter between two people, just as the original Hobo Nickels were. Early days! I wonder what next year will bring? 

[Armis]

could I be pointed to the merchants that accept HBN

http://www.hobonickels.info/accepts.php

and if you are looking for more, why not vote for HoboNickels to be included on Coinpayments:

https://www.coinpayments.net/vote

The vote ends on December 5, 2014 at 12:00:00pm EST ... and HoboNickels are listed!

Why limit it to merchants? HoboNickels could be an excellent medium of barter between two people, just as the original Hobo Nickels were. Early days! I wonder what next year will bring?  

The rules for coinpayments.net are rather odd, however if there is a way to do a cross vote deal, ie: you promise to provide 3 votes to EMC2 and I will promise to provide 3 votes to HBN, would you agree?  

This would be a strategic partnership to advance the mutual goals of non-associated coins, let me know if you agree with the premise so that we could then examine the details.