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Author Topic: [PRE-ANN] Blacknet (formerly BlackCoin) | Original research | PoS | No ICO  (Read 2446462 times)
Joerii
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February 26, 2014, 04:33:43 AM
 #1361

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

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grandMasterHash
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February 26, 2014, 04:36:21 AM
 #1362

CryptQuest Blackcoin Pool


Here is the deal:

Our target is to reach 150 active workers and at least 200 Mh/s
Once we hit that, every active miner who stays on the pool for the 24 hours after hitting that benchmark will get zero mining fees FOR LIFE.
We have also DOUBLED our already generous 25 BC block finder reward to 50 BC until when we hit our goal.

Join us and spread the word.

We have updated our wallet and are prepared for the hard fork at block 5000

dokom
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February 26, 2014, 04:40:36 AM
 #1363

https://www.mintpal.com/voting

I've asked them to put Blackcoin for voting and now you can all help get it on mintpal!! Grin

Free Pro Membership (https://www.Atomic-Trade.com?refid=84V99I3Cool - Earn free Atomic points for chatting.
TrollboxChamp
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February 26, 2014, 04:55:48 AM
 #1364

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

+1

http://en.wikipedia.org/wiki/Proof-of-stake
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February 26, 2014, 04:57:21 AM
 #1365

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

+1

http://en.wikipedia.org/wiki/Proof-of-stake

Thanks for the link Cool

Join a reliable mining pool: POT | WC (Whitecoin) | DUCK
Miner232432
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February 26, 2014, 04:57:40 AM
 #1366

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held

If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network

I am blunt, don't like it ? Too bad
rsx19
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February 26, 2014, 05:00:55 AM
 #1367

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held

If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network

so the rich will get richer?

BlackCoin For poor Shibe - BMobXjx9TN96a1qmZA9pSSzJur6UH9PWgU
TrollboxChamp
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February 26, 2014, 05:03:06 AM
 #1368

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held

If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network

so the rich will get richer?

If thats how you wanna look at it
artiface
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February 26, 2014, 05:03:19 AM
 #1369

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

It has been explained several times in the thread.

After 10000 blocks there will be no more mining rewards.  From that point all blocks will be generated via proof-of-stake.  

Quote
[The] proof-of-stake system is based around the concept of "coin age," a measure of the product of the currency amount held times the amount of time it has been held for. When generating a proof-of-stake block, the user sends some money to themselves, consuming their coin age in exchange for a preset reward. This minting transaction becomes more likely to succeed over time until a valid block is found, generating a new block on the blockchain and a payout for the proving user. This process secures the network and gradually produces new coins over time without consuming significant computational power.

In this coin you coins are eligible to produce 1% stake interest every 8 hours.  

so we send coins to oursselves to make 1%? i dont get it

All you have to do is keep your wallet running with coins in it.  Coins will automatically attempt to generate stake until they succeed.  The staked coins and the newly generated coins will then go to the stake line in your wallet until the stake is confirmed after 520 blocks then they will return to your balance.  Any coin that has been in your wallet for more 8 hours will be eligible to generate stake.  This process will replace mining and generate 1% interest compounded as much as every 8 hours.

rat4 said 1% nominal interest, but when compounding at 8 hour intervals the real interest rate will be much higher.   But you have to have coins in your wallet to stake.  And after about 5.5 more days  no more coins will be mined so the only way to get coins will be to buy them.

Jeezy911
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February 26, 2014, 05:03:27 AM
 #1370

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held

If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network

When you say connected to network, you mean just having the coins in your storage? If so, does this require the wallet to be open and unlocked at all times?

jdh015232
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February 26, 2014, 05:03:30 AM
 #1371

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held

If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network

so the rich will get richer?
see:PPC
WalkerLi
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hello world, hello crypto


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February 26, 2014, 05:06:55 AM
 #1372

Dev, still no POS block as the block explorer, why? Huh

Miner232432
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February 26, 2014, 05:07:18 AM
 #1373

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held

If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network

When you say connected to network, you mean just having the coins in your storage? If so, does this require the wallet to be open and unlocked at all times?

It needs to be connected to the network as in your wallet is running and your PC is on the internet. Anything offline will not be entered into the mining lottery

I am blunt, don't like it ? Too bad
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February 26, 2014, 05:07:33 AM
 #1374

can you explain the concept of 1% interest compounded ?

i don't undetstand what it means.

how it is different from 1% yearly interest ?

thanks.
SCryptoMiners
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February 26, 2014, 05:08:37 AM
 #1375

SCryptoMiners BlackCoin Pool (1.4 gh/s)

http://bc.scryptominers.com

PPLNS (Pay Per Last N Shares) reward system
Round earnings credited after 520 confirms.
All block transaction fees are passed along to miners.
Minimum payout is 1 BlackCoin.
We process payouts every 60 seconds.

We run multiple mining pools that can be seen in my signature. You will be safe mining with us.

Join a reliable mining pool: POT | WC (Whitecoin) | DUCK
Jeezy911
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February 26, 2014, 05:09:18 AM
 #1376

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held

If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network

When you say connected to network, you mean just having the coins in your storage? If so, does this require the wallet to be open and unlocked at all times?

It needs to be connected to the network as in your wallet is running and your PC is on the internet. Anything offline will not be entered into the mining lottery

That's pretty crazy, this coin is insane haha.

TrollboxChamp
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February 26, 2014, 05:10:08 AM
 #1377

Dev, still no POS block as the block explorer, why? Huh

PoW is not done yet.
artiface
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February 26, 2014, 05:10:13 AM
 #1378

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  Grin

How does that work exactly though ? I think that needs to be in the OP.

Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held

If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network

When you say connected to network, you mean just having the coins in your storage? If so, does this require the wallet to be open and unlocked at all times?

Yes your wallet must be open and unlocked.  You can unlock it for staking only.  

in the console type:
walletpassphrase <password> 9999999 true


9999999 or however many seconds you want to unlock to generate stake
true to unlock for staking only

If you unlock for staking only you still need to enter the passphrase for transactions
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February 26, 2014, 05:11:24 AM
 #1379

BE VERY CAREFUL WITH HASHFEVER POOLS

They don't payout. Scam pools?

I had a 100mh/s rig on there. Not anymore.

Same problem, and they tend to disconnect my rigs. Where do you switched? (60mh here)

People say they pay out, so you should be fine. I just read about HashFever here and got very scared (mined more than 30k)..

https://bitcointalk.org/index.php?topic=475160.msg5363261#msg5363261

Alternatives:

Greekpool. Registration closed, unfortunately. (That's where I mine, 1.5Ghz)
Trademybit. Registration also closed.
Scryptominers are good.
Use a P2Pool?



@y3804
https://bitcointalk.org/index.php?topic=475160.msg5367997#msg5367997

and
https://bitcointalk.org/index.php?topic=475160.msg5374875#msg5374875
and
https://bitcointalk.org/index.php?topic=475160.msg5375220#msg5375220


Regards
HashFever
tabnk
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February 26, 2014, 05:12:43 AM
 #1380

Seriously, I'm missed this boat. NET HASH @ 11GH/s now Sad.
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