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Author Topic: Proof of Stake and Cryptsy  (Read 809 times)
dailyarsenal
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February 08, 2014, 01:43:10 AM
 #1

Does anyone know if you earn POS when your coins are in your cryptsy wallet?

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February 08, 2014, 01:49:22 AM
 #2

I expect that cryptsy pockets the POS profits.

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dailyarsenal
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February 08, 2014, 01:56:50 AM
 #3

I expect that cryptsy pockets the POS profits.

That's what I assumed. Those crooked bastards. That should be illegal. They are basically stealing people's $

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Dweeb
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February 08, 2014, 02:27:06 AM
 #4

Pos is earned by the wallet - the exchange owns the wallet not you so they get the proof of stake.  If you want pos earnings leave your balance in your own personal wallet.

Same would apply to balances held in pools

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February 08, 2014, 02:30:15 AM
 #5

I'd advise not to trust even cryptsy with your wallets. Although they are a registered in the U.S. that does not mean they can hire a hacker and hack their site.


You just never know these days. Cryptsy is really turning into a shit site

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xIronCrossx
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February 08, 2014, 02:37:57 AM
 #6

More conspiracy theories from our local prediction expert tk808  Roll Eyes

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tk808
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February 08, 2014, 02:48:20 AM
 #7

More conspiracy theories from our local prediction expert tk808  Roll Eyes


IronCross is my sister, so just mind her when she acts like this.

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dogechode
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February 08, 2014, 03:12:02 AM
 #8

Sorry what is proof of stake? Are you saying... holding coins in one's wallet generates additional income?
BrewCrewFan
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February 08, 2014, 03:24:32 AM
 #9

Sorry what is proof of stake? Are you saying... holding coins in one's wallet generates additional income?

Yes certain coins have that ability.

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porcupine87
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February 08, 2014, 03:27:25 AM
 #10

I expect that cryptsy pockets the POS profits.

That's what I assumed. Those crooked bastards. That should be illegal. They are basically stealing people's $

Don't use Cryptsy. Problem solved. Is there still some kind of libertarian spirit in the cryptcurrencies?

"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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February 08, 2014, 03:30:30 AM
 #11

Sorry what is proof of stake? Are you saying... holding coins in one's wallet generates additional income?

Look at PPC. This is the original Proof of Stake Coin. This makes the coin immun against a 50%+ hashrate attack. Because you need additionally 50% of all coins to get control over the network. This is more expensive than buying the hardware for the hashrate.
-> I like it. But it has some disadvantages (e.g. dDOS attacks)

"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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February 08, 2014, 03:46:49 AM
 #12

More conspiracy theories from our local prediction expert tk808  Roll Eyes


IronCross is my sister, so just mind her when she acts like this.

We fight, but still truly love each other.  Cheesy

It would be quite boring without you to be honest, I would have no one intelligent to argue with  Grin

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February 08, 2014, 03:58:04 AM
 #13

I'd advise not to trust even cryptsy with your wallets. Although they are a registered in the U.S. that does not mean they can hire a hacker and hack their site.


You just never know these days. Cryptsy is really turning into a shit site

That doesn't make any fucking sense at all.  Why would you make your exchange look like shit and have everyone leave when you could just take the 1% or whatever for every trade?

Revelations86
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February 08, 2014, 04:27:45 AM
 #14

We'll just have to add that to the list of other scams that Cryptsy conducts including not crediting people's wallets after a new coin hits their exchange so that they can artificially jack up the prize, dump coin while price is high, start slowly crediting people's accounts, price tanks with increase of supply, and finally the rest of the accounts are credited.  They've been caught doing this 5 times with Vertcoin already.   
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February 08, 2014, 09:40:05 PM
 #15

How does one tell if their LOSERS?

 Answer is: By them blaming everyone except themselves. Your amateur losers.

 Too much greed get's em all, sooner or later.
 So how's all those losing mcxnow feeshares doing for ya lately?


 Crypsty is by far the best Exchange to date. And it's not even close so far.
-------------------------------------------------------------------------------------


 No one that has any clue believes your bs.
We all know why your doing this.
Losers.

 By all means go grab more losing dumb ass trades, and again whine like
a candy ass. The way candy asses always do. Remember, buy high, sell low.
Then rinse and repeat. Just like losers always do.

Wink


Caveat emptor
dailyarsenal
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February 08, 2014, 11:38:11 PM
 #16

How does one tell if their LOSERS?

 Answer is: By them blaming everyone except themselves. Your amateur losers.

 Too much greed get's em all, sooner or later.
 So how's all those losing mcxnow feeshares doing for ya lately?


 Crypsty is by far the best Exchange to date. And it's not even close so far.
-------------------------------------------------------------------------------------


 No one that has any clue believes your bs.
We all know why your doing this.
Losers.

 By all means go grab more losing dumb ass trades, and again whine like
a candy ass. The way candy asses always do. Remember, buy high, sell low.
Then rinse and repeat. Just like losers always do.

Wink


Caveat emptor

I think you need to calm the fuck down. I don't have anything against cryptsy, in fact they have made me a lot of money. I simply was curious about the way they treat POS earnings.

And to answer your question... mcxNOW so far has been good too.

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bitdwarf
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February 08, 2014, 11:44:16 PM
 #17

It would be somewhat unfair on the exchange to have them mine the PoS (whatever smaller than the PoW mining cost is), then you collect the profit for free. The most logical arrangement to me would be to lower or remove trading fees for coins with PoS.

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tk808
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February 08, 2014, 11:49:50 PM
 #18

More conspiracy theories from our local prediction expert tk808  Roll Eyes


IronCross is my sister, so just mind her when she acts like this.

We fight, but still truly love each other.  Cheesy

It would be quite boring without you to be honest, I would have no one intelligent to argue with  Grin

Secretly, keep it on the down low.

True, at least you argue with some facts and merit, unlike most people.

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February 08, 2014, 11:54:06 PM
 #19

I am not so sure they even have POS on. I have no connection with them so I am talking from my experience running pools etc.

I almost always set a "reservebalance" at 999,999 to stop POS generation on any of my publicly available services (Pools for the most part).

POS generation requires the use of the daemons built in coin miner. This means that a daemon can suddenly grab 100% of one of the CPU(S) and greatly effect the efficiency of all the other processes.

If one is running multiple POS daemons, this can turn into a real pain in the arse.

I do not know what Cryptsy is doing behind the scenes, but my best guess is that they are turning off POS generation.

Then again, what do I know?  Cheesy

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February 08, 2014, 11:56:40 PM
 #20

You can always limit the 100 virtual percent CPU to real 0.01 percent CPU... Its easy task to prevent PoS wallet from eating anything from your CPU power.

NEM supporter. Support community network, dont feed the trust. Currently out of all PnD crapcoins. Forever. Crypto should move to the next phase.
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