NobleCoin[NOBL] - 8% PoS | 1Yr+ | MARKETPLACE | PAY | GIFT | CHARITIES/MERCHANTS

[eagleflies]

Shutting down test network

If anyone is still running test client please shut it down.

Procedure how to clean up after tests:
1. If you participate in tests please stop test wallet.
2. Remove data directory (windows: C:\Users\username\Appdata\Roaming\NoblecoinPOS), (linux: you can delete everything except noblecoin.conf from ~/.noblecoinPOS)
3. Wait for new wallet which will be provided at the time of the switch

[eagleflies]

Roughly how many noblecoin are mined a day

7.2M per day.

that will be a nice reduction when POS comes

pos will theoretic create 4.4 million a day

so we get maximum inflation of about 0,5 mil per day

This is the average inflation per day. Let me explain. Let us say 50% of all coins are being kept in wallets which are online all the time. These will be generating about 0,25 mil per day.

However let us say owners of remaining 50% of coins will be starting their wallets every 10 days. If this happens they will be earning interest for the whole 10 days on the 10th day. This will cause many more coins generated on the 10th day than on each previous 9 days.



1. Simplified answer

If we simplify this example and presume all the coins (100%) will be able to stake on the 10th day then the amount of coins generated will be about 2,75mil on this exact 10th day.

In total (0,25 * 9) + 2,75 = 5 mil of coins will be generated during 10 days

This gives you 5 mil / 10 days = 0,5 mil per day



2. More complex answer

We ignored several important factors in previous paragraph. Most important is fact that there is only 40 blocks (on average) generated by PoS every hour. This gives about 960 blocks per day.

In reality wallets are going to compete with other wallets for all 960 slots which are available. Some transactions may need to wait longer to be able to stake.

[eagleflies]

fairglu: Could you please provide your Noblecoin's address for donations?

I would like to suggest donations to fairglu for his help:
- he provided test block explorer which helped us with testing
- he is going to generate the script which will be used to distribute coins over PoS network
- promptly answered my numerous questions

[Abbott_Car]

It seems the trend is good.

[NorrisK]

Good to read that everything is resolved for the switch.

How much of the premine is left? Can we use this to set up some permanent staking?

[eagleflies]

Good to read that everything is resolved for the switch.

How much of the premine is left? Can we use this to set up some permanent staking?

I do not have information about original premine.

I am creating new premine, as we speak,  to distribute coins on the new blockchain (the same way it was done in tests). Unused coins will be burnt.

Regarding security of whole network: it will depend on whole community so everyone should try to keep their wallets open. Of course not everyone is going to be online all the time, but the more we try the better.

[bitcoinmar]

NOBL COIN
Down

Its going down very badly I have 2 million and its almost cut 33% of my investment

[adam1230]

Eagleflies - Are you leaving us after the switch or will you stay on?

[eagleflies]

Eagleflies - Are you leaving us after the switch or will you stay on?

Transition was tested twice already and things went well so we should make the real switch without much pain too. Then if everything works fine we will not need to do major changes like the change we are doing now.

So I can probably work on some updates if they are needed and if Rofo is interested in cooperation after the switch. However I have also other projects to work on and I will not be able to devote as much time as now to Noble. One has to earn a living you know

[Zebedee23]

http://photo.pds.org:5012/cqresearcher/document.php?id=cqresrre2014092600

[gluck]

Where can I see the new or test POS block chain?

[adam1230]

Eagleflies - Are you leaving us after the switch or will you stay on?

Transition was tested twice already and things went well so we should make the real switch without much pain too. Then if everything works fine we will not need to do major changes like the change we are doing now.

So I can probably work on some updates if they are needed and if Rofo is interested in cooperation after the switch. However I have also other projects to work on and I will not be able to devote as much time as now to Noble. One has to earn a living you know

Well I think I speak for everyone here in saying that we hope that you can continue to work with Rofo and this community in some way after the switch. Maybe this will push Noble into a much larger market cap and allow for you to be compensated well enough to work more on this project. We appreciate all you have done for us.

[eagleflies]

Where can I see the new or test POS block chain?

The new one will be live on Wednesday after 5pm GMT.
The test one was switched off today.

[eagleflies]

Eagleflies - Are you leaving us after the switch or will you stay on?

Transition was tested twice already and things went well so we should make the real switch without much pain too. Then if everything works fine we will not need to do major changes like the change we are doing now.

So I can probably work on some updates if they are needed and if Rofo is interested in cooperation after the switch. However I have also other projects to work on and I will not be able to devote as much time as now to Noble. One has to earn a living you know

Well I think I speak for everyone here in saying that we hope that you can continue to work with Rofo and this community in some way after the switch. Maybe this will push Noble into a much larger market cap and allow for you to be compensated well enough to work more on this project. We appreciate all you have done for us.

Thank you!

[NorrisK]

Eagleflies - Are you leaving us after the switch or will you stay on?

Transition was tested twice already and things went well so we should make the real switch without much pain too. Then if everything works fine we will not need to do major changes like the change we are doing now.

So I can probably work on some updates if they are needed and if Rofo is interested in cooperation after the switch. However I have also other projects to work on and I will not be able to devote as much time as now to Noble. One has to earn a living you know

Well I think I speak for everyone here in saying that we hope that you can continue to work with Rofo and this community in some way after the switch. Maybe this will push Noble into a much larger market cap and allow for you to be compensated well enough to work more on this project. We appreciate all you have done for us.

Indeed, you really helped keeping noblecoin together! And also with excellent communication.

[eagleflies]

If someone has not heard about migration to PoS please make sure to read: https://bitcointalk.org/index.php?topic=402667.msg10476360#msg10476360

Migration to PoS is scheduled to happen after block height #534500 which should be around 5PM GMT on 4th of March.

[Zebedee23]

I have been on the sidelines through all this recent drama but would really like to thank eagleflies and everyone who has helped get Nobl to where we are now. After all the messing about regarding POS to have such a great job accomplished by the Noble community says alot about it!! Heres to a great future!!

also remember unless your very techy if you're wallet is encrypted get your coins onto an exchange before the switch to POS!!!!

[lifeforcepools]

for the record I am against switching algo's - scrypt has served this coin just fine

why change?

Scrypt's wreaked havoc on this coin.

how -

[Zebedee23]

for the record I am against switching algo's - scrypt has served this coin just fine

why change?

Scrypt's wreaked havoc on this coin.

how -

all the 'attacks' on Nobl which scrypt has enabled are whats being referred to

[lifeforcepools]

attacks?

are you serious?

Nobl would be in the tank if were not for scrypt coins miners.... it would be long gone off all the exchanges....