sambiohazard
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June 13, 2015, 03:48:38 AM |
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Just to give you an idea of staking on POS 2.0, With just 0.0035% of total coin supply I staked 5(0.0165% of all blocks) times in last three weeks while whole network produced ~31000 blocks. I got 0.0024% of all new minted coins in that period. All these are approxiamte figures but you get the picture. It is still possible to stake competitively with POS 2.0. It is not detrimental to small stakeholders like me but it enhances security by discouraging rentseeking behavior. There is one catch to this. I have no data on how many people were staking during this time but still this at least shows that staking with very small amount of coins is still possible. If we assume that only 20% of coins were staking still i have 0.0175% of coins which is very small portion and i am still staking successfully. Also to encourage people to stake, some coins like vericoin & archcoin have interest rate tied to strength of staking weight on network. More people staking more interest everyone gets. There are many ways to solve this problem and IMO there is a problem if only 3% of people are staking at a time. Regards Sam PS @Mhr3io here you go https://chainz.cryptoid.info/mint/ Check the amount under "Outstanding", some 21.362 billion MINT.
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r3s
Newbie
Offline
Activity: 38
Merit: 0
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June 13, 2015, 11:58:05 AM |
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Apologies if this has been mentioned somewhere but i have been out of the loop for a while.
I updated my mintcoin wallet from last year and it shows me the coins that were transferred to my wallet but my wallet is empty without any withdrawals?
Is there something i have to do to reactivate my coins?
I will have the wallet staking 24/7 once it recognises my coins.
Thanks in advance.
Andrew
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cryptomommy
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June 13, 2015, 12:20:56 PM |
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Apologies if this has been mentioned somewhere but i have been out of the loop for a while.
I updated my mintcoin wallet from last year and it shows me the coins that were transferred to my wallet but my wallet is empty without any withdrawals?
Is there something i have to do to reactivate my coins?
I will have the wallet staking 24/7 once it recognises my coins.
Thanks in advance.
Andrew
Good Morning! Is it syncing by any chance?
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r3s
Newbie
Offline
Activity: 38
Merit: 0
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June 13, 2015, 12:32:09 PM |
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Apologies if this has been mentioned somewhere but i have been out of the loop for a while.
I updated my mintcoin wallet from last year and it shows me the coins that were transferred to my wallet but my wallet is empty without any withdrawals?
Is there something i have to do to reactivate my coins?
I will have the wallet staking 24/7 once it recognises my coins.
Thanks in advance.
Andrew
Good Morning! Is it syncing by any chance? Silly me, yes i should have mentioned, it says up to date. currently on block 1600897 in the client, does that sound right? my address book is blank, could that be my problem? This is the receive coins address MnbNhUruyUy5UL7sRnE75RpFxr86K8CUYh if that helps.
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cryptomommy
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June 13, 2015, 12:34:24 PM |
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Apologies if this has been mentioned somewhere but i have been out of the loop for a while.
I updated my mintcoin wallet from last year and it shows me the coins that were transferred to my wallet but my wallet is empty without any withdrawals?
Is there something i have to do to reactivate my coins?
I will have the wallet staking 24/7 once it recognises my coins.
Thanks in advance.
Andrew
Good Morning! Is it syncing by any chance? We currently are running on 1.17 found here: https://drive.google.com/folderview?id=0ByiwIYtArulmNS0yZ3BDWHlZTlk&usp=sharing#listCan you verify you are running this wallet? (on the home screen you will see a feature that says "Total ever minted" Silly me, yes i should have mentioned, it says up to date. currently on block 1600897 in the client, does that sound right?
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r3s
Newbie
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Activity: 38
Merit: 0
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June 13, 2015, 12:38:02 PM |
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I edited my other post sorry, yes it is that version, the total ever minted is around 75269 Mint i should have around 3m or so MINT, updated my Netcoin Wallet in exactly the same way and it worked perfectly
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r3s
Newbie
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Activity: 38
Merit: 0
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June 13, 2015, 12:39:16 PM |
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cryptomommy
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June 13, 2015, 12:52:00 PM |
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Click on Help > Check Wallet Also go into the console and type repairwallet Then restart your wallet
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r3s
Newbie
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Activity: 38
Merit: 0
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June 13, 2015, 12:58:38 PM |
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Click on Help > Check Wallet Also go into the console and type repairwallet Then restart your wallet Worked a treat, thank you very much, post up your MINT address and i will send you 50k
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cryptomommy
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June 13, 2015, 01:00:58 PM |
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Click on Help > Check Wallet Also go into the console and type repairwallet Then restart your wallet Worked a treat, thank you very much, post up your MINT address and i will send you 50k Any support for the Mintcoin Guardians is greatly appreciated: Support Mintcoin Developments - Mt6nEG8Pp7kyimcHEp3gFqdjDPQqXas5Ae We use all funds to grow the community
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r3s
Newbie
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June 13, 2015, 01:29:20 PM |
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Done, thanks again.
Status: 0/unconfirmed, broadcast through 6 nodes Date: 6/13/2015 23:28 To: Mt6nEG8Pp7kyimcHEp3gFqdjDPQqXas5Ae Debit: -50000.00 MINT Transaction fee: -0.50 MINT Net amount: -50000.50 MINT Transaction ID: 92443b703a0c33ee95cd891660d182c5bbe39f9778daebec1122dda1e89e46b9
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Flyskyhigh
Sr. Member
Offline
Activity: 291
Merit: 250
Ezekiel 34:11, John 10:25-30
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June 13, 2015, 02:28:47 PM |
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Isn't there a possibility that a bunch of mintcoins were lost? Like the total supply is really a lot less.
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Sick of mining? Start minting! 5% per year! Mintcoin "MINT"
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Flyskyhigh
Sr. Member
Offline
Activity: 291
Merit: 250
Ezekiel 34:11, John 10:25-30
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June 13, 2015, 02:38:54 PM |
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@coolbeans Your whole argument is that people with small amount of coins can never stake. This is incorrect. With POS 2.0 staking becomes like solo mining, you are guaranteed a stake but it will take much longer if you have less coin. Also as you accumulate coin age by being online the longer it takes for you to stake, bigger the reward. Its just that it will be less frequent with small amount of coins. Also with POS 1.0 people arent securing the network but still getting the rewards. You get rewards for processing transactions & securing the network, that happens only when you are actively staking. Also one of the argument for POS 2.0 was that those who are investing large sums of money to back the coin are trumped in staking by others who just come online to collect reward but provide no service for 99% of the time. Although i am not at all for big investors so this is not something i am worried about. For those who are worried about keeping their PC on all the time, people are running nodes & minting PCs on Raspberry PI like computers which could be a good investment if you stake more than one coin. Another way around low staking % is to create dedicated staking group from community members who create some reasonable weight say, 20-30% all the time during the 20 day staking cycle. This might not seem like a problem right now as we are in our infancy but if MINT goes big people will have incentive to fork the network. Fluttercoin created a good scheme by paying people to keep their wallets open via a bounty fund. That is another way to incentivize people to stake. Thanks for keeping the discussion going. How can you say that PoS 1.0 people are not securing the network, but getting rewards? In order to get reward, you need to find a block, and you are securing the network when you do this. Granted it may be for a brief period of time, since a block on mintcoin is about 28 seconds or so. But you are helping to secure it.
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Sick of mining? Start minting! 5% per year! Mintcoin "MINT"
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Ofan
Newbie
Offline
Activity: 18
Merit: 0
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June 13, 2015, 03:52:24 PM |
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@coolbeans Your whole argument is that people with small amount of coins can never stake. This is incorrect. With POS 2.0 staking becomes like solo mining, you are guaranteed a stake but it will take much longer if you have less coin. Also as you accumulate coin age by being online the longer it takes for you to stake, bigger the reward. Its just that it will be less frequent with small amount of coins. Also with POS 1.0 people arent securing the network but still getting the rewards. You get rewards for processing transactions & securing the network, that happens only when you are actively staking. Also one of the argument for POS 2.0 was that those who are investing large sums of money to back the coin are trumped in staking by others who just come online to collect reward but provide no service for 99% of the time. Although i am not at all for big investors so this is not something i am worried about. For those who are worried about keeping their PC on all the time, people are running nodes & minting PCs on Raspberry PI like computers which could be a good investment if you stake more than one coin. Another way around low staking % is to create dedicated staking group from community members who create some reasonable weight say, 20-30% all the time during the 20 day staking cycle. This might not seem like a problem right now as we are in our infancy but if MINT goes big people will have incentive to fork the network. Fluttercoin created a good scheme by paying people to keep their wallets open via a bounty fund. That is another way to incentivize people to stake. Thanks for keeping the discussion going. Just to chip in, keeping 24/7 wallet uptime is not a hardware limitation for me, it is due to circumstances that frankly need no elaboration save to say that they render it an impossibility, even if that were not the case the mere suggestion of having to buy dedicated hardware to leave running constantly is huge turn off, and will be for a lot of people. You say "but if MINT goes big" however a system that requires constant uptime will be a good reason why for an "average" or "uneducated" user it will not, because most will not care about security considerations but will focus more on convenience and practicality. There has to be a certain amount of pragmatism involved in considering this.
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sambiohazard
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June 13, 2015, 10:27:47 PM |
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@coolbeans Your whole argument is that people with small amount of coins can never stake. This is incorrect. With POS 2.0 staking becomes like solo mining, you are guaranteed a stake but it will take much longer if you have less coin. Also as you accumulate coin age by being online the longer it takes for you to stake, bigger the reward. Its just that it will be less frequent with small amount of coins. Also with POS 1.0 people arent securing the network but still getting the rewards. You get rewards for processing transactions & securing the network, that happens only when you are actively staking. Also one of the argument for POS 2.0 was that those who are investing large sums of money to back the coin are trumped in staking by others who just come online to collect reward but provide no service for 99% of the time. Although i am not at all for big investors so this is not something i am worried about. For those who are worried about keeping their PC on all the time, people are running nodes & minting PCs on Raspberry PI like computers which could be a good investment if you stake more than one coin. Another way around low staking % is to create dedicated staking group from community members who create some reasonable weight say, 20-30% all the time during the 20 day staking cycle. This might not seem like a problem right now as we are in our infancy but if MINT goes big people will have incentive to fork the network. Fluttercoin created a good scheme by paying people to keep their wallets open via a bounty fund. That is another way to incentivize people to stake. Thanks for keeping the discussion going. How can you say that PoS 1.0 people are not securing the network, but getting rewards? In order to get reward, you need to find a block, and you are securing the network when you do this. Granted it may be for a brief period of time, since a block on mintcoin is about 28 seconds or so. But you are helping to secure it. The problem is right now people are securing the network for few hours or maybe a day when they open wallet to receive their minted block but leaving it vulnerable for rest of the 20 day period. If your wallet is not open then your coins dont count towards the network weight which is like total hashrate for a POW coin. If for a POW coin like bitcoin hashrate is too low then a big miner can attack the network, similarly POS coin can be attacked if network weight is too low. Continuing with the same analogy, if a miner turns on his miner for a day every 20 days and collects rewards that he would have received only if he hashed for 20 days continuously then he is kind of gaming the system. That is what happens when people open their wallet every 20 days.
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sambiohazard
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June 13, 2015, 10:34:00 PM |
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@coolbeans Your whole argument is that people with small amount of coins can never stake. This is incorrect. With POS 2.0 staking becomes like solo mining, you are guaranteed a stake but it will take much longer if you have less coin. Also as you accumulate coin age by being online the longer it takes for you to stake, bigger the reward. Its just that it will be less frequent with small amount of coins. Also with POS 1.0 people arent securing the network but still getting the rewards. You get rewards for processing transactions & securing the network, that happens only when you are actively staking. Also one of the argument for POS 2.0 was that those who are investing large sums of money to back the coin are trumped in staking by others who just come online to collect reward but provide no service for 99% of the time. Although i am not at all for big investors so this is not something i am worried about. For those who are worried about keeping their PC on all the time, people are running nodes & minting PCs on Raspberry PI like computers which could be a good investment if you stake more than one coin. Another way around low staking % is to create dedicated staking group from community members who create some reasonable weight say, 20-30% all the time during the 20 day staking cycle. This might not seem like a problem right now as we are in our infancy but if MINT goes big people will have incentive to fork the network. Fluttercoin created a good scheme by paying people to keep their wallets open via a bounty fund. That is another way to incentivize people to stake. Thanks for keeping the discussion going. Just to chip in, keeping 24/7 wallet uptime is not a hardware limitation for me, it is due to circumstances that frankly need no elaboration save to say that they render it an impossibility, even if that were not the case the mere suggestion of having to buy dedicated hardware to leave running constantly is huge turn off, and will be for a lot of people. You say "but if MINT goes big" however a system that requires constant uptime will be a good reason why for an "average" or "uneducated" user it will not, because most will not care about security considerations but will focus more on convenience and practicality. There has to be a certain amount of pragmatism involved in considering this. Well its not absolutely necessary to be online 24/7. You will still get your rewards if you remain online for few hours but it will take longer to get your reward. Also you have to do something more than just sitting on your coins to get reward. I mean why even come online for a little time every 20 days, just get your rewards for creating a wallet. Current POS system is dumb, thats why i called it rent seeking as people aren't helping the network but keeping coins just to get free rewards.
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cryptomommy
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June 14, 2015, 03:03:16 PM |
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Well its not absolutely necessary to be online 24/7. You will still get your rewards if you remain online for few hours but it will take longer to get your reward. Also you have to do something more than just sitting on your coins to get reward. I mean why even come online for a little time every 20 days, just get your rewards for creating a wallet. Current POS system is dumb, thats why i called it rent seeking as people aren't helping the network but keeping coins just to get free rewards.
I maintain three wallets that I take turns keeping up 24/7 I know there are several other community members that are keeping theirs up 24/7 as well.
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iHashFury
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June 14, 2015, 06:24:33 PM |
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Well its not absolutely necessary to be online 24/7. You will still get your rewards if you remain online for few hours but it will take longer to get your reward. Also you have to do something more than just sitting on your coins to get reward. I mean why even come online for a little time every 20 days, just get your rewards for creating a wallet. Current POS system is dumb, thats why i called it rent seeking as people aren't helping the network but keeping coins just to get free rewards.
I maintain three wallets that I take turns keeping up 24/7 I know there are several other community members that are keeping theirs up 24/7 as well. 24/7 wallet also. Maybe we should ask the community who mints 24/7 ?
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vanobe
Member
Offline
Activity: 164
Merit: 37
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June 14, 2015, 06:39:38 PM |
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Well its not absolutely necessary to be online 24/7. You will still get your rewards if you remain online for few hours but it will take longer to get your reward. Also you have to do something more than just sitting on your coins to get reward. I mean why even come online for a little time every 20 days, just get your rewards for creating a wallet. Current POS system is dumb, thats why i called it rent seeking as people aren't helping the network but keeping coins just to get free rewards.
I maintain three wallets that I take turns keeping up 24/7 I know there are several other community members that are keeping theirs up 24/7 as well. 24/7 wallet also. Maybe we should ask the community who mints 24/7 ? You can see who has minted during the last 24 hours by using the block explorer's network page. Comparing today's results with tomorrow's results should give a rough indication how many people are staking 24/7. Here's today's results. https://chainz.cryptoid.info/mint/#!network Node List for MintCoin Wallet:0.7.2 Seen by explorer wallet in the last 24hours: addnode=104.131.103.232 addnode=104.173.205.55 addnode=104.236.127.154 addnode=105.237.84.26 addnode=106.186.28.243 addnode=106.68.26.233 addnode=108.28.111.73 addnode=109.195.220.234 addnode=109.235.190.6 addnode=109.236.85.42 addnode=116.225.63.96 addnode=118.211.193.53 addnode=121.216.243.9 addnode=125.237.57.107 addnode=125.45.131.93 addnode=128.61.78.142 addnode=137.186.74.99 addnode=139.218.3.96 addnode=14.18.25.109 addnode=141.237.1.108 addnode=151.224.210.161 addnode=154.43.167.35 addnode=155.210.85.36 addnode=162.223.107.74 addnode=162.248.99.164 addnode=167.114.156.87 addnode=173.245.157.138 addnode=173.3.11.64 addnode=173.30.236.87 addnode=173.48.179.177 addnode=174.137.79.81 addnode=174.62.75.38 addnode=174.91.248.181 addnode=176.120.60.140 addnode=178.158.146.102 addnode=178.17.123.110 addnode=178.201.96.41 addnode=178.218.117.66 addnode=178.62.63.139 addnode=180.189.145.142 addnode=185.42.242.115 addnode=187.201.107.215 addnode=188.134.72.213 addnode=188.165.2.147 addnode=188.165.82.233 addnode=188.227.114.21 addnode=188.27.185.176 addnode=192.241.169.123 addnode=192.99.15.77 addnode=192.99.6.207 addnode=193.210.230.168 addnode=195.160.253.7 addnode=198.100.147.145 addnode=198.144.158.45 addnode=199.241.145.219 addnode=2.26.182.11 addnode=202.160.35.202 addnode=204.11.237.233 addnode=208.104.57.53 addnode=209.236.83.8 addnode=212.79.110.106 addnode=213.30.156.2 addnode=217.122.4.184 addnode=217.23.180.138 addnode=221.206.141.86 addnode=23.113.201.151 addnode=23.120.44.144 addnode=24.93.172.1 addnode=37.145.123.254 addnode=37.44.88.142 addnode=37.48.113.81 addnode=39.55.188.149 addnode=45.48.78.77 addnode=46.132.188.9 addnode=46.188.0.71 addnode=5.167.164.31 addnode=5.175.90.5 addnode=50.133.13.62 addnode=54.221.245.218 addnode=54.84.186.96 addnode=58.60.243.19 addnode=65.121.181.71 addnode=66.49.248.51 addnode=66.49.250.173 addnode=67.161.191.64 addnode=67.186.227.32 addnode=67.212.200.218 addnode=68.100.234.180 addnode=68.190.26.107 addnode=69.118.24.197 addnode=69.171.129.68 addnode=70.117.111.164 addnode=70.71.56.186 addnode=71.1.72.83 addnode=71.1.8.242 addnode=71.184.242.17 addnode=71.194.82.48 addnode=71.220.73.107 addnode=71.56.203.88 addnode=71.64.152.220 addnode=71.85.0.88 addnode=71.90.215.93 addnode=72.241.7.181 addnode=72.94.158.217 addnode=73.169.177.4 addnode=75.133.225.232 addnode=75.159.140.92 addnode=75.84.184.198 addnode=76.186.190.13 addnode=76.21.26.146 addnode=77.131.12.229 addnode=77.23.90.191 addnode=77.66.33.209 addnode=78.14.250.77 addnode=78.153.34.2 addnode=78.194.158.202 addnode=78.61.48.176 addnode=79.156.200.173 addnode=79.159.168.138 addnode=79.166.107.182 addnode=79.209.66.58 addnode=79.209.75.168 addnode=80.174.154.233 addnode=80.216.20.115 addnode=80.93.113.146 addnode=81.162.54.10 addnode=81.204.71.126 addnode=81.37.24.18 addnode=82.154.121.31 addnode=82.69.7.141 addnode=83.221.186.81 addnode=83.248.3.126 addnode=83.36.210.64 addnode=83.80.244.106 addnode=84.105.11.242 addnode=84.113.211.94 addnode=84.120.96.171 addnode=85.3.194.145 addnode=85.53.41.123 addnode=85.7.49.138 addnode=86.21.96.45 addnode=86.57.249.165 addnode=86.86.14.127 addnode=87.167.26.143 addnode=87.167.5.168 addnode=87.222.28.135 addnode=87.244.72.59 addnode=88.23.88.227 addnode=88.3.232.194 addnode=90.26.50.158 addnode=90.56.105.193 addnode=91.121.177.181 addnode=91.124.22.190 addnode=91.134.33.136 addnode=91.205.239.37 addnode=92.109.237.243 addnode=92.247.232.111 addnode=92.98.48.49 addnode=93.103.73.244 addnode=93.139.110.197 addnode=93.153.9.218 addnode=93.189.2.18 addnode=93.46.214.239 addnode=93.81.204.122 addnode=94.209.33.80 addnode=94.219.201.184 addnode=94.219.98.89 addnode=94.226.187.230 addnode=95.153.94.229 addnode=95.22.7.100 addnode=95.30.194.254 addnode=95.52.120.165 addnode=98.115.147.74 addnode=98.228.231.164 addnode=98.237.46.60 addnode=99.236.160.199 addnode=99.44.133.22 Node List for Mintcoin Wallet:1.05 Seen by explorer wallet in the last 24hours: addnode=110.32.108.134 addnode=70.208.6.172
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Rent_a_Ray
Legendary
Offline
Activity: 1294
Merit: 1036
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June 14, 2015, 07:00:47 PM |
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You can see who has minted during the last 24 hours by using the block explorer's network page. Comparing today's results with tomorrow's results should give a rough indication how many people are staking 24/7. Here's today's results. https://chainz.cryptoid.info/mint/#!network It shows the number of clients seen by fairglu's daemon during the last 24hours. It says nothing about minting / online status / online time. Btw. next Mintcoin version should get another client / protocol version. It would be nice to see on which version the people are. Example: https://chainz.cryptoid.info/zeit/#!networkCheers, Ray
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