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Author Topic: CGB stake explanation?  (Read 884 times)
karlb
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November 03, 2013, 02:06:47 PM
 #1

I've had some CGB in my wallet since 01/10/2013. But it still says 0.00 next to the Stake balance.
The CGB website states:
2% annual interest for coins which have been stationary in a users wallet for at least 30 days.


So how often do I get this interest? is it paid daily? monthly? anually?
The website makes it sound like it's just as simple as having the coins for 30 days and then you automatically get interest like a bank account.

I've read somewhere else that you have to leave the wallet open as much as possible, and then wait for a random chance of getting a POS block.
If this is the case then the website is pretty misleading and makes it sound easy when it's not.

Can anyone explain please?
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meta.p02
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November 03, 2013, 02:44:17 PM
 #2

The stake balance is the amount currently tied up through the minting of stake blocks. Once the stake block matures, it is spendable again.

To mint stake, try the instructions here: https://bitcointalk.org/index.php?topic=187714 . It is for PPCoin but also applicable here.

Lastly, check that you have a large enough amount of CGB available. Stake is truncated, so if you don't have enough, you can't mint any stake.

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Killiz
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November 03, 2013, 04:03:43 PM
 #3

Funds need to be left untouched for 30 days before they become eligible for stake generation.

Your wallet needs to be unlocked for stake to be generated.
If you have your wallet encrypted you can have it unlocked for stake minting purposes only.
One method is to create a mint.bat file like described in the link in the above post. The other way is to click on help -debug window -console, in your qt client/wallet and type in-  walletpassphrase 'your password' 99999 true.

As for the minimum amount that can generate stake, I have looked a couple of pages back through the block explorer and a stake block was generated with only around 0.54 CGB http://explorer.cryptogenicbullion.org:2750/block/200ab7a4e5fcc50ea238a284c0d1688bdf5228d2455ab6cb5ccb8dbc4761d9cd

Surely you have more than this  Cheesy

Edit: With all this done, stake generation is still a game of luck. Just like solo mining.

Edit2: Stake interest is paid as soon as you generate a POS block, and fully confirmed, and each 30 day period thereafter.
         Interest is around 2% annually so this works out at around 0.16666666666667% monthly if divided by 12.

karlb
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November 03, 2013, 06:09:37 PM
 #4

Thanks for the help Smiley
I have 7.45 CGB that are 34 days old.
I'll leave my wallet unlocked and running.
I know it is a game of luck, but how long on average can I expect to wait before I see anything happen?
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November 03, 2013, 06:28:11 PM
 #5

Thanks for the help Smiley
I have 7.45 CGB that are 34 days old.
I'll leave my wallet unlocked and running.
I know it is a game of luck, but how long on average can I expect to wait before I see anything happen?

No problem, happy to help if I can  Smiley

I haven't waited more than a day or two.
Not sure if this is correct, but I think the more coins you have in an address that havent been moved for 30 days, the more chance you have at generating a POS block. Just like having more hash power gives you more chance of finding a POW block.

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November 03, 2013, 08:18:39 PM
 #6

If I had 1 cgb sent to me in random chunks through the month and left it, how much stake blocks would be generated if I rather took all of my cgb and sent it back to my address and left it? Would I mint more blocks or not? Or does it not matter?














 

 

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Killiz
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November 03, 2013, 08:43:22 PM
 #7

If I had 1 cgb sent to me in random chunks through the month and left it, how much stake blocks would be generated if I rather took all of my cgb and sent it back to my address and left it? Would I mint more blocks or not? Or does it not matter?

If you are sending to the same address, every time 1 CGB is sent to it, days are reset to zero.

If you send 1 CGB to a separate address every day for 30 consecutive days, you will have more chance to get POS blocks over the next 30 days after the first address becomes eligible for stake. Some addresses may take a few days, some less, some more. You wont be guaranteed to get a block every single day, and you wont be guaranteed every address will get POS within those 30 days.

I would advise everyone to do this, or split their funds to create more POS blocks. Doing this will help secure the blockchain and keep transactions moving as the POW mining reward dwindles  Smiley

Although you have the said 30 CGB spread between 30 addresses and are hitting more POS blocks, you are still receiving ~2% annually on those 30 CGB combined, whether they are in separate addresses or not.

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