[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[superplus]

Sorry, I am misunderstanding you or you me.

1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.

When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.

It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened.

As for 'where do the transfer fees go', good question, I forgot to look into that ...

I think I have it. On the last page you said:

"No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."

So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%).

So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right?

Can anybody clearify this?

I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking.
If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining??
So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block.,

This should be cleared up asap, it is the basis of rewarding people and not enough people understand it.

I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model.

So you think you get the 1% for running your client 24/7/365  (compounding up to 1.005% over the year)  and the fees in a block? Do you have any links for the second part?

No, your interest is compounded because you keep your wallet open permanently. You gain 1% regardless.

The transaction fees, I would expect, are also paid to those who are staking ( there are no miners ), so this, plus the compounding of interest, is your incentive. Haven't found proof of this yet, but am in the middle of work, haven't looked far ;]

Cant compound After each block.. We would habe already doubled the total supply then.

From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).

Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake

Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.

Thats allright now i think

But no-one knows where the fees go. Into the devs pockets?

The One who got the block.. Like in pow

[1715068370]

1715068370

[1715068370]

1715068370

[1715068370]

1715068370

[coinism]

f**** * whale let's pump it. https://www.youtube.com/watch?v=AUbZJcdlcSc

[publicjud]

Iconic "pump", just no.

I know your excited but no.

http://poll.pollcode.com/44677639

change the idea to add buy walls.

Good Idea.  That will have to be another pool.

[IconicExpert]

Black Whale Community Pump (4/25/2014 - 8 PM EST - NYC Time)

The BlackCoin community are once again about to make history!!! Never in the history of crypto has a community rallied together to pump the price of a currency in an attempt to break the control of unscrupulous whales!!! A global pump with hundreds of people working in unison will be nothing less than epic!!! We will become the "Black Whale".

On Friday 4/25/2013 - 8 PM EST - NYC Time we will begin buying massive quantities of BlackCoin to stop the blatant manipulation of some holders who are purposely suppressing the growth of BlackCoin. This community will pump over 300 BTC into the BlackCoin ecosystem to consume the low priced sell walls.

We as a community will have to pledge to each other to follow some basic guidelines.

1.) You will only trade on Mintpal @ 4/25/2013 - 8 PM EST - NYC Time.
2.) You will buy at market price and not buy on dips.
3.) You will not use this opportunity to sell off the coins you already hold.
4.) You will not sell any of the coins you buy for 3 days after the community pump.

I would like to formally ask the multi-pool operators to hold off buying coins for the next two days and join us on this epic event!!!


I want to make it clear that I do advocate adding value to BC and natural growth. But it is clear that BC price is being manipulated to remain at lower levels. We can do nothing and hope eventually we can break the suppression, or we can be proactive and buy up the artificially low sell walls. Whether you agree with the idea or not, if everyone joined in it will work. If appropriate measures are taken we can minimize the sell off that will be sure to follow. The goal here is to establish a floor high enough the makes it too expensive to keep playing these silly games. I would like to remind everyone that a few people vowed to destroy BC and it seems they are trying to keep their promise.



 

[XbladeX]

Black Whale Community Pump (4/25/2014 - 8 PM EST - NYC Time)

The BlackCoin community are once again about to make history!!! Never in the history of crypto has a community rallied together to pump the price of a currency in an attempt to break the control of unscrupulous whales!!! A global pump with hundreds of people working in unison will be nothing less than epic!!! We will become the "Black Whale".

On Friday 4/25/2013 - 8 PM EST - NYC Time we will begin buying massive quantities of BlackCoin to stop the blatant manipulation of some holders who are purposely suppressing the growth of BlackCoin. This community will pump over 300 BTC into the BlackCoin ecosystem to consume the low priced sell walls.

We as a community will have to pledge to each other to follow some basic guidelines.

1.) You will only trade on Mintpal @ 4/25/2013 - 8 PM EST - NYC Time.
2.) You will buy at market price and not buy on dips.
3.) You will not use this opportunity to sell off the coins you already hold.
4.) You will not sell any of the coins you buy for 3 days after the community pump.

I would like to formally ask the multi-pool operators to hold off buying coins for the next two days and join us on this epic event!!!


I want to make it clear that I do advocate adding value to BC and natural growth. But it is clear that BC price is being manipulated to remain at lower levels. We can do nothing and hope eventually we can break the suppression, or we can be proactive and buy up the artificially low sell walls. Whether you agree with the idea or not, if everyone joined in it will work. If appropriate measures are taken we can minimize the sell off that will be sure to follow. The goal here is to establish a floor high enough the makes it too expensive to keep playing these silly games. I would like to remind everyone that a few people vowed to destroy BC and it seems they are trying to keep their promise.



 

We need to hit in silnet BC manipulator not on high...
If you just make sharp buy you will give him more BTC to manipulate in later game...

[Daedelus]

From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).

Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake

Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.

Thats allright now i think

But no-one knows where the fees go. Into the devs pockets?

The One who got the block.. Like in pow

Sounds reasonably. But you don't sound sure

Do you have links?

And you agree you get 0% if you don't stake?

[hellyeahent]

Sorry, I am misunderstanding you or you me.

1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.

When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.

It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened.

As for 'where do the transfer fees go', good question, I forgot to look into that ...

I think I have it. On the last page you said:

"No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."

So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%).

So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right?

Can anybody clearify this?

I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking.
If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining??
So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block.,

This should be cleared up asap, it is the basis of rewarding people and not enough people understand it.

I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model.

So you think you get the 1% for running your client 24/7/365  (compounding up to 1.005% over the year)  and the fees in a block? Do you have any links for the second part?

No, your interest is compounded because you keep your wallet open permanently. You gain 1% regardless.

The transaction fees, I would expect, are also paid to those who are staking ( there are no miners ), so this, plus the compounding of interest, is your incentive. Haven't found proof of this yet, but am in the middle of work, haven't looked far ;]

Cant compound After each block.. We would habe already doubled the total supply then.

From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).

Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake

Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.

Thats allright now i think

But no-one knows where the fees go. Into the devs pockets?

Miners

[Daedelus]

From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).

Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake

Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.

Thats allright now i think

But no-one knows where the fees go. Into the devs pockets?

Miners

There are none. The stakers?

[hellyeahent]

IconicExpert

Do not listen to them. Those who say it is a bad idea just did not buy Black when it was cheap So now they are afraid that BC will become even more expensive and they will never buy it cheaper

10. If I could just reach thru this screen.....

20. and shake some sense into you....

30. I own BC from since when it was cheap, I am investing huge amounts of mine (and others) money into BC and its associated projects. So to have a yappy comment such as yours appear in the thread makes me want to reach thru the screen and .... go to 20 (loop)

To beconside like serious coin we don't need promote p&d games it can hurts BC harder.
But silent buy BC manipulation wall should be ON ^^ if someone moves 50BTC wall down and down...
lets buy all his shares on low and kick out him for BC market.
Annouced pumps are stupid.Next time he will think 2x before move such big walls down .

THIS !!!!! If Price is now 42142sat and sb "sells" at 43000  30-50BTC its probably fake sell. Buy few times those and they will stop with that

[XbladeX]

.....


But no-one knows where the fees go. Into the devs pockets?


The One who got the block.. Like in pow

Sounds reasonably. But you don't sound sure

Do you have links?

And you agree you get 0% if you don't stake?

Block with mined in POS fees:
http://blocks.blackcoin.pw/block/53781cd5b192cc70ecef67a668d52234066f3dbd2b44c9ef7894185b68fb3b0c

[Zackgeno96]

Black Whale Community Pump (4/25/2014 - 8 PM EST - NYC Time)

The BlackCoin community are once again about to make history!!! Never in the history of crypto has a community rallied together to pump the price of a currency in an attempt to break the control of unscrupulous whales!!! A global pump with hundreds of people working in unison will be nothing less than epic!!! We will become the "Black Whale".

On Friday 4/25/2013 - 8 PM EST - NYC Time we will begin buying massive quantities of BlackCoin to stop the blatant manipulation of some holders who are purposely suppressing the growth of BlackCoin. This community will pump over 300 BTC into the BlackCoin ecosystem to consume the low priced sell walls.

We as a community will have to pledge to each other to follow some basic guidelines.

1.) You will only trade on Mintpal @ 4/25/2013 - 8 PM EST - NYC Time.
2.) You will buy at market price and not buy on dips.
3.) You will not use this opportunity to sell off the coins you already hold.
4.) You will not sell any of the coins you buy for 3 days after the community pump.

I would like to formally ask the multi-pool operators to hold off buying coins for the next two days and join us on this epic event!!!


I want to make it clear that I do advocate adding value to BC and natural growth. But it is clear that BC price is being manipulated to remain at lower levels. We can do nothing and hope eventually we can break the suppression, or we can be proactive and buy up the artificially low sell walls. Whether you agree with the idea or not, if everyone joined in it will work. If appropriate measures are taken we can minimize the sell off that will be sure to follow. The goal here is to establish a floor high enough the makes it too expensive to keep playing these silly games. I would like to remind everyone that a few people vowed to destroy BC and it seems they are trying to keep their promise.



 

this idea is against everything you have been previously posting. why the sudden change. just make it buy walls. add security, but don't try to pump it 150% that is retarded. maybe a community growth buy would be better. adding buy walls of 50 btc every few hundred sat making a huge wall would be better.

[hellyeahent]

From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).

Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake

Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.

Thats allright now i think

But no-one knows where the fees go. Into the devs pockets?

Miners

There are none. The stakers?

So who mine blocks ? (we have like 90k blocks now ?)

[XbladeX]

IconicExpert

Do not listen to them. Those who say it is a bad idea just did not buy Black when it was cheap So now they are afraid that BC will become even more expensive and they will never buy it cheaper

10. If I could just reach thru this screen.....

20. and shake some sense into you....

30. I own BC from since when it was cheap, I am investing huge amounts of mine (and others) money into BC and its associated projects. So to have a yappy comment such as yours appear in the thread makes me want to reach thru the screen and .... go to 20 (loop)

To beconside like serious coin we don't need promote p&d games it can hurts BC harder.
But silent buy BC manipulation wall should be ON ^^ if someone moves 50BTC wall down and down...
lets buy all his shares on low and kick out him for BC market.
Annouced pumps are stupid.Next time he will think 2x before move such big walls down .

THIS !!!!! If Price is now 42142sat and sb "sells" at 43000  30-50BTC its probably fake sell. Buy few times those and they will stop with that

And then annouce BC whale whale manipulator was hunted ^^ and make party on him ^^ with screen shots

[bitcoin carpenter]

Iconic I trust you enough to put .5 btu in your hands to pump on the unaware, but a planned pump gives to much warning to manipulates they will pull their walls just before the pump and sell on the top to drive the price back down

Just set up a wallet intended for breaking walls and hit them when necessary

[XbladeX]

From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).

Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake

Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.

Thats allright now i think

But no-one knows where the fees go. Into the devs pockets?

Miners

There are none. The stakers?

So who mine blocks ? (we have like 90k blocks now ?)

POS miners when you heave wallet on and ullocked you mine blocks ^^

[RoyBtc]

+111 intersting coin

[jc12345]

Why does Iconic quote his own post? I hope he is not serious to go ahead with this fallacy. Unless he has a hidden agenda to quickly dump some coins to cash out. Everyone knows an artificial pump is not sustainable, so the value and well-being of the brand and coin cannot be his motivation for this.

[XbladeX]

Sorry, I am misunderstanding you or you me.

1% for inflation + 1.005% to pay the stakers for securing the network = 2.005% inflation per year. You are relying on >2.005% being lost every year for BC to be deflationary.

When you make a transfer of BC, you pay a fee? If so, where do the fees go? Some coins destroy them, some use to reward stakers. I'm not sure what BC does atm.

It's not 1% inflation + 1.005% to pay the stakers. They are not separate entities, but are one and the same. The 1% inflation is derived from the 1% interest earned as and when wallets are opened.

As for 'where do the transfer fees go', good question, I forgot to look into that ...

I think I have it. On the last page you said:

"No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%."

So you are saying you get 1% if you open your wallet just once per year but if you leave it open, you get compound interest on the same 1% (which we calcualted above as being 1.005%).

So the incentive stake 24/7 for a year is a bonus of 0.005%? You would get the 1% if you did nothing, right?

Can anybody clearify this?

I think the 1% Inflation of 74m is reached if everybody would have wallets opened all Time. So 100% of the coins are staking.
If u dont let wallet Open You get 0% because how could u get a block if there is no wallet pos Mining??
So you have to Open the wallet to Secure the Networ. Therefore u get fees plus stake on hitting a block.,

This should be cleared up asap, it is the basis of rewarding people and not enough people understand it.

I think you are probably right, it wouldn't be proof of stake if you weren't rewarded for 'proving your stake'. So 0% for keeping you wallet closed seems logical. Otherwise, 0.005% is no incentive to stake your wallet and the network will die quickly as soon as people realised this. A terrible set up, I doubt BC would ahve got this far with that model.

So you think you get the 1% for running your client 24/7/365  (compounding up to 1.005% over the year)  and the fees in a block? Do you have any links for the second part?

No, your interest is compounded because you keep your wallet open permanently. You gain 1% regardless.

The transaction fees, I would expect, are also paid to those who are staking ( there are no miners ), so this, plus the compounding of interest, is your incentive. Haven't found proof of this yet, but am in the middle of work, haven't looked far ;]

Cant compound After each block.. We would habe already doubled the total supply then.

From the articles posted, the compounding period is 8 hours. There are 1095 eight hour periods in a year (365 * (24/8)).

Each 8 hour period you get, 0.1 / 1095 = 0.000009132% on your stake

Compounding 0.000009132% up over 1095 periods = (1.000009132^1095) - 1 = 1.005% compounded for the year.

Thats allright now i think

But no-one knows where the fees go. Into the devs pockets?

Miners

There are no miners.

My understanding is that if you leave your wallet closed for a year, you will receive your 1% interest upon opening it. You will not receive the interest *immediately*, you will still have to go through the PoS process to generate that interest, as those that have held their wallets open have done during the year.

However, because you have not touched your coins  for a year, your coins will have significant 'age', and so may be considered quicker than others for performing the PoS transaction, and so earn that 1% fairly quickly.

POS miner = unlocked wallet and ready stacking ^^ simple.
To mine block you don't need hit stake.

[hellyeahent]

Black Whale Community Pump (4/25/2014 - 8 PM EST - NYC Time)

The BlackCoin community are once again about to make history!!! Never in the history of crypto has a community rallied together to pump the price of a currency in an attempt to break the control of unscrupulous whales!!! A global pump with hundreds of people working in unison will be nothing less than epic!!! We will become the "Black Whale".

On Friday 4/25/2013 - 8 PM EST - NYC Time we will begin buying massive quantities of BlackCoin to stop the blatant manipulation of some holders who are purposely suppressing the growth of BlackCoin. This community will pump over 300 BTC into the BlackCoin ecosystem to consume the low priced sell walls.

We as a community will have to pledge to each other to follow some basic guidelines.

1.) You will only trade on Mintpal @ 4/25/2013 - 8 PM EST - NYC Time.
2.) You will buy at market price and not buy on dips.
3.) You will not use this opportunity to sell off the coins you already hold.
4.) You will not sell any of the coins you buy for 3 days after the community pump.

I would like to formally ask the multi-pool operators to hold off buying coins for the next two days and join us on this epic event!!!


I want to make it clear that I do advocate adding value to BC and natural growth. But it is clear that BC price is being manipulated to remain at lower levels. We can do nothing and hope eventually we can break the suppression, or we can be proactive and buy up the artificially low sell walls. Whether you agree with the idea or not, if everyone joined in it will work. If appropriate measures are taken we can minimize the sell off that will be sure to follow. The goal here is to establish a floor high enough the makes it too expensive to keep playing these silly games. I would like to remind everyone that a few people vowed to destroy BC and it seems they are trying to keep their promise.



 

this idea is against everything you have been previously posting. why the sudden change. just make it buy walls. add security, but don't try to pump it 150% that is retarded. maybe a community growth buy would be better. adding buy walls of 50 btc every few hundred sat making a huge wall would be better.

Thats sounds like blackcoin shield. I was against BC shield but "invisible black coin shield" would be nice idea. Do not give all knownlege to ppl coz they will use it agaist to profit

[IconicExpert]

Black Whale Community Pump (4/25/2014 - 8 PM EST - NYC Time)

The BlackCoin community are once again about to make history!!! Never in the history of crypto has a community rallied together to pump the price of a currency in an attempt to break the control of unscrupulous whales!!! A global pump with hundreds of people working in unison will be nothing less than epic!!! We will become the "Black Whale".

On Friday 4/25/2013 - 8 PM EST - NYC Time we will begin buying massive quantities of BlackCoin to stop the blatant manipulation of some holders who are purposely suppressing the growth of BlackCoin. This community will pump over 300 BTC into the BlackCoin ecosystem to consume the low priced sell walls.

We as a community will have to pledge to each other to follow some basic guidelines.

1.) You will only trade on Mintpal @ 4/25/2013 - 8 PM EST - NYC Time.
2.) You will buy at market price and not buy on dips.
3.) You will not use this opportunity to sell off the coins you already hold.
4.) You will not sell any of the coins you buy for 3 days after the community pump.

I would like to formally ask the multi-pool operators to hold off buying coins for the next two days and join us on this epic event!!!


I want to make it clear that I do advocate adding value to BC and natural growth. But it is clear that BC price is being manipulated to remain at lower levels. We can do nothing and hope eventually we can break the suppression, or we can be proactive and buy up the artificially low sell walls. Whether you agree with the idea or not, if everyone joined in it will work. If appropriate measures are taken we can minimize the sell off that will be sure to follow. The goal here is to establish a floor high enough the makes it too expensive to keep playing these silly games. I would like to remind everyone that a few people vowed to destroy BC and it seems they are trying to keep their promise.



 

this idea is against everything you have been previously posting. why the sudden change. just make it buy walls. add security, but don't try to pump it 150% that is retarded. maybe a community growth buy would be better. adding buy walls of 50 btc every few hundred sat making a huge wall would be better.

The sudden change comes from people behind the scenes PMing me. If you look back at the posts from the past 24 hours you will get an idea of what I mean. There are people who are tired of the suppression and vowing to leave BC all together. Setting up huge buy walls is only a band-aid ....