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DougB62
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February 25, 2014, 05:20:43 PM |
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QUESTIONS TO ANYONE WHO KNOWS (no guessing please)
1. If I mined 10 million coins in first few days and intend to keep them for the POS minting, but I have also mined more since then, how does the wallet know which coins I transfer out to sell? Does it take first in /first out or how does it really know? My guess is that there is no possible way and this is a major hiccup in the code.
2. If it pays POS before mining is complete (down to 1 coin per block) how does it know if coins have already been paid the POS or not? If I buy 1 million from someone who got their POS payment, those have been paid the first payment. But if I am still mining 1 million also, how does the system know which coins are new and which are old? Another serious flaw I am thinking. Uless the POS starts after the reward drops to 1 coin.
I realize everyone here is a genious and has their belief, but I want an accurate answer as the answer is very importnat and depending on it, there is a potential HUGE arbitrage situation in the making.
I believe the coins have a coin age for each coin.. I see there is a coin age variable but dont know if this is per coin... if there is age for each coin then you would take over payments if its over 20 days old... But reading the faq it says you need to wait 20 days so I dont know if coin age is per coin.. and if so Im not sure how 5% global inflation is forced after 4 years. The coins have to be setting in a wallet, (not transferred to new wallet) for a least 20 days to be eligible to try and mint coins. If you bought coins it would reset the timer on the day the coins were sent to you wallet. If you bought the coins from someone who had them sitting in his wallet for 19 days, then no interest would be earned until they sit in your wallet for 20 days. Feasible?: It does not matter about the date of each coin. It only matters that the wallet keep track of the balance that has been in the wallet. For instance, you deposited 1000 on 2/08. On 2/15 you xferred 500 out. On 2/17 you xfer 800 back in. You have a current balance of 1800. On 2/28 (or 20 days from initial deposit) wallet checks lowest balance from 2/08 - 2/28, and derives PoS on this quantity. I know that this doesn't account for accurate times and is quite simplistic, but couldn't each "coin" have a time/date bit/byte(s) attached/embedded within itself? Seems like that would not be that difficult, and it would adjust according to the individual wallet address, ie., reset. Just thinking out loud. |
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hadi
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February 25, 2014, 05:21:00 PM |
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i have many transactions each day ( recieve mintcoin from pool ) how i can set all coins for POS?  |
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mgburks77
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February 25, 2014, 05:22:37 PM |
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i have many transactions each day ( recieve mintcoin from pool ) how i can set all coins for POS? leave them in your wallet for 20 days when you move them they reset |
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mgburks77
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February 25, 2014, 05:23:43 PM |
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QUESTIONS TO ANYONE WHO KNOWS (no guessing please)
1. If I mined 10 million coins in first few days and intend to keep them for the POS minting, but I have also mined more since then, how does the wallet know which coins I transfer out to sell? Does it take first in /first out or how does it really know? My guess is that there is no possible way and this is a major hiccup in the code.
2. If it pays POS before mining is complete (down to 1 coin per block) how does it know if coins have already been paid the POS or not? If I buy 1 million from someone who got their POS payment, those have been paid the first payment. But if I am still mining 1 million also, how does the system know which coins are new and which are old? Another serious flaw I am thinking. Uless the POS starts after the reward drops to 1 coin.
I realize everyone here is a genious and has their belief, but I want an accurate answer as the answer is very importnat and depending on it, there is a potential HUGE arbitrage situation in the making.
I believe the coins have a coin age for each coin.. I see there is a coin age variable but dont know if this is per coin... if there is age for each coin then you would take over payments if its over 20 days old... But reading the faq it says you need to wait 20 days so I dont know if coin age is per coin.. and if so Im not sure how 5% global inflation is forced after 4 years. The coins have to be setting in a wallet, (not transferred to new wallet) for a least 20 days to be eligible to try and mint coins. If you bought coins it would reset the timer on the day the coins were sent to you wallet. If you bought the coins from someone who had them sitting in his wallet for 19 days, then no interest would be earned until they sit in your wallet for 20 days. Feasible?: It does not matter about the date of each coin. It only matters that the wallet keep track of the balance that has been in the wallet. For instance, you deposited 1000 on 2/08. On 2/15 you xferred 500 out. On 2/17 you xfer 800 back in. You have a current balance of 1800. On 2/28 (or 20 days from initial deposit) wallet checks lowest balance from 2/08 - 2/28, and derives PoS on this quantity. I know that this doesn't account for accurate times and is quite simplistic, but couldn't each "coin" have a time/date bit/byte(s) attached/embedded within itself? Seems like that would not be that difficult, and it would adjust according to the individual wallet address, ie., reset. Just thinking out loud. That would affect fungibility |
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hadi
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February 25, 2014, 05:27:12 PM |
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i have many transactions each day ( recieve mintcoin from pool ) how i can set all coins for POS? leave them in your wallet for 20 days when you move them they reset people said,u must unlock this type : "To unlock wallet go to Help/Debug Window/Console and type in: walletpassphrase "typeyourpassphrasehere" 999999999 true" is it true? |
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broken_pixel
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February 25, 2014, 05:29:18 PM |
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i have many transactions each day ( recieve mintcoin from pool ) how i can set all coins for POS? leave them in your wallet for 20 days when you move them they reset people said,u must unlock this type : "To unlock wallet go to Help/Debug Window/Console and type in: walletpassphrase "typeyourpassphrasehere" 999999999 true" is it true? That is if you encrypted the wallet. |
GA-990FXA-UD5, 1x 7970L, 2x S1, AX1200i, RIVBE, 2x R290x, NEX1500, BTC: 1G9cQix8bMgh35MQ9wY3Rb9yNSSCtnoRmK, DGC: DFo9FcKYsutv9Vx5c5xUzkrt7VJdECZWTM, LTC: LaAN33aktPGaimN5ALL9kjHjuJekfmKfTh
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hadi
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February 25, 2014, 05:31:55 PM |
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i have many transactions each day ( recieve mintcoin from pool ) how i can set all coins for POS? leave them in your wallet for 20 days when you move them they reset people said,u must unlock this type : "To unlock wallet go to Help/Debug Window/Console and type in: walletpassphrase "typeyourpassphrasehere" 999999999 true" is it true? what do you mean sir ? and 9999999 must be my coin numbers? |
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mgburks77
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February 25, 2014, 05:32:02 PM |
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i have many transactions each day ( recieve mintcoin from pool ) how i can set all coins for POS? leave them in your wallet for 20 days when you move them they reset people said,u must unlock this type : "To unlock wallet go to Help/Debug Window/Console and type in: walletpassphrase "typeyourpassphrasehere" 999999999 true" is it true? You've already unlocked your wallet. Leave your coins in their for 20 days for them to starting minting. You don't have to keep your wallet unlocked or unlock it everyday to mint. It keeps track of the coin age whether it is locked or not. |
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Chris180Z
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February 25, 2014, 05:32:57 PM |
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Am I correct in saying that next halving comes on Thursday and the final day for mining is the 13th, or is it the 20th? Thanks.
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DougB62
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February 25, 2014, 05:33:15 PM |
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Has it halved recently? Getting a lot of ~25,000 - 75,000-ish blocks.
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Mikellev
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February 25, 2014, 05:34:22 PM |
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has reached poolerino.com
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vardiff
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Load balanced Stratums
Live chat + support in dashboard
Great community
mint.poolerino.com Port 3348
cgminer --scrypt -o stratum+tcp://mint.poolerino.com:3348 -u Username.Workername -p Worker password |
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mgburks77
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February 25, 2014, 05:34:38 PM |
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what do you mean sir ?
and 9999999 must be my coin numbers?
999999999 is how many seconds you want your wallet to remain unlocked. |
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hadi
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February 25, 2014, 05:37:12 PM |
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what do you mean sir ?
and 9999999 must be my coin numbers?
999999999 is how many seconds you want your wallet to remain unlocked. so i recieve coins everday,my POS reset everday |
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broken_pixel
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February 25, 2014, 05:44:02 PM |
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3. what does that mean in the wallet : Minting suspended due to locked wallet? This says you can not do mining due to wallet encrypted. you need to unlock the wallet in order to mine (for example for PoS blocks): mintcoin-qt -server mintcoind walletpassphrase <passphrase> <unlock_duration_in_seconds> true |
GA-990FXA-UD5, 1x 7970L, 2x S1, AX1200i, RIVBE, 2x R290x, NEX1500, BTC: 1G9cQix8bMgh35MQ9wY3Rb9yNSSCtnoRmK, DGC: DFo9FcKYsutv9Vx5c5xUzkrt7VJdECZWTM, LTC: LaAN33aktPGaimN5ALL9kjHjuJekfmKfTh
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mgburks77
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February 25, 2014, 05:45:31 PM |
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jesus christ
read the thread
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hadi
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February 25, 2014, 05:45:37 PM |
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3. what does that mean in the wallet : Minting suspended due to locked wallet? This says you can not do mining due to wallet encrypted. you need to unlock the wallet in order to mine (for example for PoS blocks): mintcoin-qt -server mintcoind walletpassphrase <passphrase> <unlock_duration_in_seconds> true read 8 posts upper than me |
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kopam
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February 25, 2014, 05:47:05 PM |
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jesus christ
read the thread
or maybe, but just maaaybe, try reading the web page FAQ : http://mintcoin.cc/faq/ |
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broken_pixel
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February 25, 2014, 05:47:48 PM |
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3. what does that mean in the wallet : Minting suspended due to locked wallet? This says you can not do mining due to wallet encrypted. you need to unlock the wallet in order to mine (for example for PoS blocks): mintcoin-qt -server mintcoind walletpassphrase <passphrase> <unlock_duration_in_seconds> true read 3 posts upper than me That is from the 1st page of this thread to let people know if the wallet is locked it will not mint. |
GA-990FXA-UD5, 1x 7970L, 2x S1, AX1200i, RIVBE, 2x R290x, NEX1500, BTC: 1G9cQix8bMgh35MQ9wY3Rb9yNSSCtnoRmK, DGC: DFo9FcKYsutv9Vx5c5xUzkrt7VJdECZWTM, LTC: LaAN33aktPGaimN5ALL9kjHjuJekfmKfTh
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MaxMinersNet
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February 25, 2014, 05:47:59 PM |
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