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

[AltcoinAuthority]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

[artiface]

Stake interest: 1% annually

Is that all?

Are you a banker?

Well, nominal interest is 1% annually. And minimal stake age is 8 hours. Now imagine compound interest  

Edited: to be more srs, PoS mining is cheap

[Jeezy911]

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

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

Ill probably just leave it unlocked forever, I prefer armed guards anyway 

[artiface]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

If it's not locked you don't have to unlock it.  It will mint automatically.

[AltcoinAuthority]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

If it's not locked you don't have to unlock it.  It will mint automatically.

And when will minting start/how will I know how many coins I have Minted?

[Zackgeno96]

do i need to do anything for my coins to gain intrest? oh nvm it hasnt even started yet LOL

[artiface]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

If it's not locked you don't have to unlock it.  It will mint automatically.

And when will minting start/how will I know how many coins I have Minted?

Not sure when minting will start. I think it is supposed to start after block 5000, or maybe not until after all POW is done.  

You will see staked coins in the line in the wallet that says stake.  They will be held there (not available for transactions) until the stake is confirmed 520 blocks.  Then they will go back to your available balance.  You should see minted coins as a transaction the the ledger.

  

[rsx19]

how does pos work, is it one wallet that gets it every 8 hours?

[AltcoinAuthority]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

If it's not locked you don't have to unlock it.  It will mint automatically.

And when will minting start/how will I know how many coins I have Minted?

Not sure when minting will start. I think it is supposed to start after block 5000, or maybe not until after all POW is done.  

You will see staked coins in the line in the wallet that says stake.  They will be held there (not available for transactions) until the stake is confirmed 520 blocks.  Then they will go back to your available balance.  You should see minted coins as a transaction the the ledger.

So they won't be spendable until 520 blocks after they are minted?

[splitting]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

If it's not locked you don't have to unlock it.  It will mint automatically.

And when will minting start/how will I know how many coins I have Minted?

Not sure when minting will start. I think it is supposed to start after block 5000, or maybe not until after all POW is done.  

You will see staked coins in the line in the wallet that says stake.  They will be held there (not available for transactions) until the stake is confirmed 520 blocks.  Then they will go back to your available balance.  You should see minted coins as a transaction the the ledger.

  

Max height: 10000 (after this network will not accept PoW)

[artiface]

how does pos work, is it one wallet that gets it every 8 hours?

A POS block should be generated by the network every minute.   Your coins will try to stake after their age is over 8 hours.  If they do generate stake their age is reset to 0.

[TrollboxChamp]

how does pos work, is it one wallet that gets it every 8 hours?

I think every block

[rsx19]

how does pos work, is it one wallet that gets it every 8 hours?

A POS block should be generated by the network every minute.   Your coins will try to stake after their age is over 8 hours.  If they do generate stake their age is reset to 0.

dont know what staking is but mhhmk xD

[artiface]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

If it's not locked you don't have to unlock it.  It will mint automatically.

And when will minting start/how will I know how many coins I have Minted?

Not sure when minting will start. I think it is supposed to start after block 5000, or maybe not until after all POW is done.  

You will see staked coins in the line in the wallet that says stake.  They will be held there (not available for transactions) until the stake is confirmed 520 blocks.  Then they will go back to your available balance.  You should see minted coins as a transaction the the ledger.

So they won't be spendable until 520 blocks after they are minted?

Just like mining rewards have to be confirmed before spending, so does stake.  Also stake will hold a portion of your balance, the coins that generated the stake also.   If you want keep coins spendable (and not let them stake)

from the console type

reservebalance <amount>  

will keep this amount in reserve so you can always have it available to spend.  those coins will not generate stake.

[artiface]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

If it's not locked you don't have to unlock it.  It will mint automatically.

And when will minting start/how will I know how many coins I have Minted?

Not sure when minting will start. I think it is supposed to start after block 5000, or maybe not until after all POW is done.  

You will see staked coins in the line in the wallet that says stake.  They will be held there (not available for transactions) until the stake is confirmed 520 blocks.  Then they will go back to your available balance.  You should see minted coins as a transaction the the ledger.

  

Max height: 10000 (after this network will not accept PoW)

True, but the POS should start after block 5000.  


static const int MODIFIER_INTERVAL_SWITCH = 5000;

if (IsProofOfStake() && nHeight < MODIFIER_INTERVAL_SWITCH)
       return DoS(100, error("AcceptBlock() : reject proof-of-stake at height %d", nHeight));

this is preventing any stake before block 5000.  After that you just have to get lucky.

[iceray]

it's now in allcoin exchange..
https://www.allcoin.com/trade/bc_btc

[HammyCoin]

Looking to sell 10k for .2 btc. PM me if interested.

[hughjays77]

Is https://www.cryptoaltex.com/ a slow exchange?? I made a bitcoin deposit 1hr ago try it out but its still pending ?

[ezvm]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

If it's not locked you don't have to unlock it.  It will mint automatically.

And when will minting start/how will I know how many coins I have Minted?

Not sure when minting will start. I think it is supposed to start after block 5000, or maybe not until after all POW is done.  

You will see staked coins in the line in the wallet that says stake.  They will be held there (not available for transactions) until the stake is confirmed 520 blocks.  Then they will go back to your available balance.  You should see minted coins as a transaction the the ledger.

So they won't be spendable until 520 blocks after they are minted?

Just like mining rewards have to be confirmed before spending, so does stake.  Also stake will hold a portion of your balance, the coins that generated the stake also.   If you want keep coins spendable (and not let them stake)

from the console type

reservebalance <amount>  

will keep this amount in reserve so you can always have it available to spend.  those coins will not generate stake.

I couldn't have put it better, this should be included in OP for future reference, especially for those just getting in on the coin.

[SCryptoMiners]

Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting.  Thanks in advance for the help  

If it's not locked you don't have to unlock it.  It will mint automatically.

And when will minting start/how will I know how many coins I have Minted?

Not sure when minting will start. I think it is supposed to start after block 5000, or maybe not until after all POW is done.  

You will see staked coins in the line in the wallet that says stake.  They will be held there (not available for transactions) until the stake is confirmed 520 blocks.  Then they will go back to your available balance.  You should see minted coins as a transaction the the ledger.

Those who are patient will make out very well with this coin, imo. First time I've gotten into a PoS coin. Thanks for the explanation, made me understand much better than I had.