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Author Topic: [ANN][RDD] Reddcoin The Social Currency [PoSV] Electrum Wallet 1.0.2  (Read 686740 times)
bigreddmachine
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August 05, 2014, 04:52:40 PM
 #4101


the links are blocked on my work network.. Can someone tell me if the wallt needs to be open all the time to stake? or can i open it once a day to sync?

thanks

Staking is basically a lottery, just like mining.  The more coins you have (and the longer you've had them), the more lottery tickets you have.  There is a lottery held every minute for Reddcoin, so 1440 per day.  That means 1440 stakes will earn interest.  Given that there are a few thousand wallets as a minimum for RDD, and that most of them have multiple stakes based on transaction history, you have some stiff competition for winning.  If you have really large stakes in a very big wallet, you could probably sync every once in a while and be fine.  But if you have smaller stakes or a smaller wallet, you are going to want to run your wallet as often as possible to have the most opportunities at winning a stake.

That applies for every PoS coin.  Sometimes calling staking "interest" can be misleading because it makes it seem like everyone should have no trouble getting it.  It's really a reward, and the amount of the reward is determined in a way similar to interest.
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hyoung
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August 05, 2014, 07:44:51 PM
 #4102

For windows only.

Backup the wallet.dat file. IF this is backed up already on USB stick then you skip this step.

You can find this by doing. Open up run command (Windows key + R)

Type in box and press enter

%appdata%

When this opens you will have a folder in there called “redcoin” (If you cant see these folders they are hidden . You need to change the folders settings to “view system files. Google will help you)

Inside this folder is the wallet.dat (This holds the information and coins) Copy this somewhere safe.

Now delete this folder completely.

Uninstall the wallet application from the control panel.

Install the new wallet with the new .exe

Open wallet and let it sync completely.

Close wallet.

Go back and get to the %appdata% folder.

You will now see a new “redcoin” folder with a new wallet.dat file

Now copy your backed up wallet file into this folder and overwrite it.

Open wallet it should show the coins.


this does not work - i let the wallet fully sync, deleted new wallet.dat and restored backup wallet.dat and I get an error straight away

Assertion Failed! Expression: mapBlockIndex.count(hashSyncCheckPoint)

I had the exact same problem.  The App does not need to be reinstalled, although taking advantage of the opportunity to upgrade to the latest 1.3.1 from www.redcoin.com is good practice.  The error is something associates with the block chain state cached locally.  As per the above, delete everything in the Reddcoin application data folder (I deleted the blocks, chainstate, database and txleveldb folders) but leave wallet.dat (with a safe copy elsewhere just in case).  Restart the wallet application and it comes up with your coins shown as unconfirmed and starts syncing with the network, as mine currently is.  I'm assuming that it will resync and everything go back to normal.  I'll report back if there are any more problems, but otherwise please assume this fix worked fine.
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August 05, 2014, 11:02:29 PM
 #4103

Reddcoin has interesting properties. Features I have been looking for, such as:

"Proof of Stake Velocity (PoSV) is proposed as an alternative to Proof of Work (PoW) and Proof of Stake (PoS) to secure the peer-to-peer network and confirm transactions of Reddcoin, a cryptocurrency created specifically to facilitate social interactions in the digital age. PoSV is designed to encourage both ownership (Stake) and activity (Velocity) which directly correspond to the two main functions of Reddcoin as a real currency: store of value and medium of exchange." -- http://www.reddcoin.com/papers/PoSV.pdf

"The Reddcoin supply inflates at a compounded annual rate of 5%. Because the interest compounds, Reddcoin will actually inflate at a higher rate than Dogecoin beginning in 2016.

However, unlike Dogecoin, Reddcoin is taking steps to ensure that inflation does not scare investors away. ... On average, a Reddcoin holder’s stake will gain 5% annual interest, which is just enough to ensure their investment does not lose value due to inflation." -- http://www.cryptocoinsnews.com/news/dogecoin-price-decline-continues-will-reddcoin-challenge-it/2014/07/29

And this video claims that Reddcoin has zero transaction fees: What is Reddcoin? -- https://www.youtube.com/watch?v=KlYJ0sNVVpg
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August 06, 2014, 05:20:14 AM
 #4104

THIS JUST IN !!!

The 2nd largest Chinese exchange BTC38.com just listed Reddcoin !!!



Nop. It's NOT.

Reddcoin is NOT listed (yet).

This information page has been there for months. You can check the right column and find that RDD is not listed.

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August 06, 2014, 08:01:16 AM
 #4105

hello, looking to invest some coins.

may I ask what are the ipo price per 1,000,000 of reddcoin?

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August 06, 2014, 09:00:31 AM
 #4106

hello, looking to invest some coins.

may I ask what are the ipo price per 1,000,000 of reddcoin?

The IPO price was around 2-5 Sat, I think, so 0.02 BTC. Early birds would have gotten a million coins for 0.04 BTC. This would be worth 0.2BTC by now.

If it was easy, everybody would be doing it
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August 06, 2014, 10:26:24 AM
 #4107

For windows only.

Backup the wallet.dat file. IF this is backed up already on USB stick then you skip this step.

You can find this by doing. Open up run command (Windows key + R)

Type in box and press enter

%appdata%

When this opens you will have a folder in there called “redcoin” (If you cant see these folders they are hidden . You need to change the folders settings to “view system files. Google will help you)

Inside this folder is the wallet.dat (This holds the information and coins) Copy this somewhere safe.

Now delete this folder completely.

Uninstall the wallet application from the control panel.

Install the new wallet with the new .exe

Open wallet and let it sync completely.

Close wallet.

Go back and get to the %appdata% folder.

You will now see a new “redcoin” folder with a new wallet.dat file

Now copy your backed up wallet file into this folder and overwrite it.

Open wallet it should show the coins.


this does not work - i let the wallet fully sync, deleted new wallet.dat and restored backup wallet.dat and I get an error straight away

Assertion Failed! Expression: mapBlockIndex.count(hashSyncCheckPoint)

I had the exact same problem.  The App does not need to be reinstalled, although taking advantage of the opportunity to upgrade to the latest 1.3.1 from www.redcoin.com is good practice.  The error is something associates with the block chain state cached locally.  As per the above, delete everything in the Reddcoin application data folder (I deleted the blocks, chainstate, database and txleveldb folders) but leave wallet.dat (with a safe copy elsewhere just in case).  Restart the wallet application and it comes up with your coins shown as unconfirmed and starts syncing with the network, as mine currently is.  I'm assuming that it will resync and everything go back to normal.  I'll report back if there are any more problems, but otherwise please assume this fix worked fine.

Just to confirm the above procedure worked - the Reddcoin wallet resynced with zero balance, I closed the app, copied by backup copy of wallet.dat into "appdata"/Reddcoin, restarted the app, and all back to normal.  So to conform the error was the locally cached block chain data consistency or the indexing thereof, so restarting from scratch then overlaying your original wallet.dat file fixes everything.

But this highlights the point that a modicum of technical ability is still needed to work with local wallets.  We really need secure hosted wallets like a BlockChain equivalent for any alt coin to really cross over into the mainstream.  The world already moved from C: to Cloud anyway, so how will all the alts do this.  Forking QT is not the answer.
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August 06, 2014, 11:10:43 AM
 #4108

good morning second staking amount has arrived Credit: 929.37410188 RDD   (but yesterday was skipped, despite wallet running non stop) hence random aspect of finding blocks, which is as designed

seeing being listed on Chinese exchange, very nice! and also cryptsy address went dow by ~ 5% , very nice!

   Rdq2haAZxE6jcwR4mjfW7xmxYXQCzTFczt   2014-08-05 19:53:33   2014-08-05 19:53:33   3            24.23%   6,539,969,389 RDD ($827,524 USD)

I like above address slowly getting less and less! and transfered to people wallets because later social wallet (up and running of course) and integrated with social networks!

also price steady around 21, at which I bought!

so that's that have a great day! and use the coin, for now just stake and participate in forums as someone else said before here, think of applications where reddcoin is being used! I am not sure if reddcoin will have API's but hoping, API's for developers to do things with it..

 Cool

new upcoming awesome coin

the Gulden Coin: GKWHEPx3rQyPnbgQUSHu8gtgoRCgpqed1j
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August 06, 2014, 11:15:25 AM
 #4109

Had some problems to get the new wallet run with my .dat file. Found that i should start with salvagewallet=1 and after that i dont have any errors. But i whonder how long time it should take to get staking rewards?? It says 17 hours when i check on the upper arrow. But it have been like 40 hours now, and it still says 17 hour?

grateful for some help
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August 06, 2014, 11:17:52 AM
 #4110

Had some problems to get the new wallet run with my .dat file. Found that i should start with salvagewallet=1 and after that i dont have any errors. But i whonder how long time it should take to get staking rewards?? It says 17 hours when i check on the upper arrow. But it have been like 40 hours now, and it still says 17 hour?

grateful for some help

what is your combined # of coins ?

new upcoming awesome coin

the Gulden Coin: GKWHEPx3rQyPnbgQUSHu8gtgoRCgpqed1j
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August 06, 2014, 11:23:19 AM
 #4111

Combined? My balance is about 1.1 million
BTCat
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August 06, 2014, 11:26:25 AM
 #4112

RDD is on nr 27 in the votinglist on btc38. It's not listed to trade.

http://www.btc38.com/trade/vote_for_trade_en.html



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q327K091
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August 06, 2014, 11:29:19 AM
 #4113

Combined? My balance is about 1.1 million

that's pretty good!..I have 5 mil, and waited 48 hours! because so many wallets are staking now, and one probably could perform mathematical analysis (interesting subject by itself) such as Poisson random distribution analysis, you will definitely see stake , probably between 200 to 500 coins, for me it was 48 hours and even then there is no guarantee, definitely leave wallet open up and running I for example have a physical separate laptop locked under a key and password running and forget about it , I know 100% reddcoin staking technology works, as soon as you see stake, please report here, it could several days, or it could be one, make sure you look at debug console and make sure you are connected to nodes, look for any unusual errors, you can report that here also, as we all be glad to help

and unlock your wallet!! if you have not done so already (during stake of course, otherwise protect it as much as you can) and back ups on separate physical drives (suggest more than one backup)...

 Cool

new upcoming awesome coin

the Gulden Coin: GKWHEPx3rQyPnbgQUSHu8gtgoRCgpqed1j
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August 06, 2014, 11:33:30 AM
 #4114

Okidoki, i hopes everything work like it should then and i will wait and see. Thanx
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August 06, 2014, 01:58:37 PM
 #4115

Therefore,I recieved first 6038 RDD minting Yesterday  :)it is fun
LemonAndFries
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August 06, 2014, 05:45:07 PM
 #4116

so the wallet keeps crashing for no reason and no one can answer me
MaxOnBit
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August 06, 2014, 07:41:09 PM
 #4117

Dump to 0.0000001 Sad

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August 06, 2014, 08:04:18 PM
 #4118

Dump to 0.0000001 Sad


Cheesy ?  sow sell all to me Smiley
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August 06, 2014, 08:35:35 PM
 #4119

Dump to 0.0000001 Sad


Cheesy ?  sow sell all to me Smiley
I am ready to buy your all on this rate really I mean it  Wink

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August 06, 2014, 08:57:52 PM
 #4120

I'm starting to have my doubts. I tested sending a small amount of reddcoins and there was a transaction fee! Angry They said in the official video that there was zero transaction fees. And the idea of proof of stake seems stupid. If you are a big fat 'whale' with a huge amount of coins, the proof of stake method rewards you profusely so that you get even richer. The poor stay poor and the rich get richer. That's the same kind of lopsided wealth distribution we already have with the ordinary (fiat) currencies.
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