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

[asdlolciterquit]

Hi,

The stake of 1% annually. Does this mean you get 1% extra coins per year? (Much lower than with MINT or EBT)

Anybody?

i am also very interested in an answer to this very important question

Thats the function in the source:

Code:

// miner's coin stake reward based on coin age spent (coin-days)
int64 GetProofOfStakeReward(int64 nCoinAge, int64 nFees)
{
    int64 nSubsidy = nCoinAge * COIN_YEAR_REWARD * 33 / (365 * 33 + 8);

    if (fDebug && GetBoolArg("-printcreation"))
        printf("GetProofOfStakeReward(): create=%s nCoinAge=%"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nCoinAge);

    return nSubsidy + nFees;
}

COIN_YEAR_REWARD = 0.01 (1%)

But I couldn't figure it out when and how often it applies.
Maybe a DEV could help to understand this better?


edit: typo

Thanks for the feedback. So it really is 1%. This basically means it is a pure POW coin, since nobody will be really interested in the PoS rewards, I think.

I think you really need to consider the compound interest.  1% of the 1% 3 times a day could add up fairly quickly.

can anyone say how much is it with the compound interest?
i made some math, but it's seem (maybe i'm wrong) that in very few higher than 1% year

[yannis7777]

This may have been asked/answered elsewhere but I've looked and cannot find anything straightforward, either here or or blackcoin.co:

How do you set your BC wallet up for PoS minting? After wallet encrypt it shows stake miner locked for minting.

Is it done with a simple command in debug console? If so, what is the exact command?

Or is it something more complicated, involving setup of a .conf in your %appdata% folder? Again, details please, if this is the way.

Please make reply PoS-noob friendly, I have never done this setup before. Thanks very much.

I second that. Well said.

[Miner232432]

This may have been asked/answered elsewhere but I've looked and cannot find anything straightforward, either here or or blackcoin.co:

How do you set your BC wallet up for PoS minting? After wallet encrypt it shows stake miner locked for minting.

Is it done with a simple command in debug console? If so, what is the exact command?

Or is it something more complicated, involving setup of a .conf in your %appdata% folder? Again, details please, if this is the way.

Please make reply PoS-noob friendly, I have never done this setup before. Thanks very much.

It should be a simple case of typing "walletpassphrase "your password" 9999999 true" in the debug console

However I'm having problems with the wallet being unlocked but it saying "stake miner suspended due to locked wallet"

[rat4]

Just charged faucet with 1000 BC. Everyone can have some free coins 

[Soepkip]

Just charged faucet with 1000 BC. Everyone can have some free coins 

You sir, are a hero!

VOTE FOR MINTPAL!

https://www.mintpal.com/voting

[illodin]

I never knew about these renting sites, looks like a good play for those good at picking new coins.

I'm renting out my rig there right now. That's good to do if you don't have anything in mind to mine. Steady payout !

You know what I never really rented any miners as I have my own but for this coin I might consider renting some additional MH/s , I want to throw as much Mh/s at it before it goes scarce - Can someone recommend a site?

Yea thanks for spreading the info... idiots.

[Sparkzor]

Not worth renting anymore

[nightengale]

This thing is going to go ape spit when it hits a decent exchange.

[reda]

i think the coin have forked on greekpool
the dev should take a closer look

[rat4]

i think the coin have forked on greekpool
the dev should take a closer look

Why you think so?

[kopam]

Just charged faucet with 1000 BC. Everyone can have some free coins 

Grat, i have sent another 2000 to support you and this coin !

[illodin]

Not worth renting anymore

And guess why? 

[Stenull]

New p2pool in the hood
@
p2pool-miner


Come join the p2pool party

[illodin]

As has been said a thousand times in this thread it is 1% nominal interest.  That 1% can be compounded as much as every 8 hours.   If you don't understand what compound interest means then go look it up.  If you don't think that will be enough POS then don't bother, leave it to the people who actually understand.  

I don't really understand it because of the randomness nature of it. Could you tell me if I have lets say 0.1% of the total coins i.e. 100k BC, and the PoS begins, how many am I expected to have after 10 days? 100 days? year?

Thanks!

[Turpomann]

This is bs. Not only you had to begin mine this coin at day 1, but all will be mined in first week. If you are not in it very early, you don't get shit. Why would I even bother to start mining this anymore? This is not what decentralized currency is supposed to be. This is fuckin pyramid scheme. Fuckin shitcoin!

[sevoque]

This is bs. Not only you had to begin mine this coin at day 1, but all will be mined in first week. If you are not in it very early, you don't get shit. Why would I even bother to start mining this anymore? This is not what decentralized currency is supposed to be. This is fuckin pyramid scheme. Fuckin shitcoin!

hi, factually incorrect.

go rent some rigs and get mining

[oldmarsh]

This is bs. Not only you had to begin mine this coin at day 1, but all will be mined in first week. If you are not in it very early, you don't get shit. Why would I even bother to start mining this anymore? This is not what decentralized currency is supposed to be. This is fuckin pyramid scheme. Fuckin shitcoin!

^^^^^^^^^^^
Raging because he didn't get in the first day

[Turpomann]

This is bs. Not only you had to begin mine this coin at day 1, but all will be mined in first week. If you are not in it very early, you don't get shit. Why would I even bother to start mining this anymore? This is not what decentralized currency is supposed to be. This is fuckin pyramid scheme. Fuckin shitcoin!

^^^^^^^^^^^
Raging because he didn't get in the first day

YEP! THIS IS PYRAMID SCHEME!

[Soepkip]

This is bs. Not only you had to begin mine this coin at day 1, but all will be mined in first week. If you are not in it very early, you don't get shit. Why would I even bother to start mining this anymore? This is not what decentralized currency is supposed to be. This is fuckin pyramid scheme. Fuckin shitcoin!

Some mine, some buy. This is a good coin with honesty since the start. No premine, smooth launch. I'm loving it although mining is getting harder every damn minute.
You can buy them for cheap now @ https://cryptoaltex.com/index.php?page=trade&market=4

[danzilla]

Hi,

The stake of 1% annually. Does this mean you get 1% extra coins per year? (Much lower than with MINT or EBT)

Anybody?

i am also very interested in an answer to this very important question

Thats the function in the source:

Code:

// miner's coin stake reward based on coin age spent (coin-days)
int64 GetProofOfStakeReward(int64 nCoinAge, int64 nFees)
{
    int64 nSubsidy = nCoinAge * COIN_YEAR_REWARD * 33 / (365 * 33 + 8);

    if (fDebug && GetBoolArg("-printcreation"))
        printf("GetProofOfStakeReward(): create=%s nCoinAge=%"PRI64d"\n", FormatMoney(nSubsidy).c_str(), nCoinAge);

    return nSubsidy + nFees;
}

COIN_YEAR_REWARD = 0.01 (1%)

But I couldn't figure it out when and how often it applies.
Maybe a DEV could help to understand this better?


edit: typo

Thanks for the feedback. So it really is 1%. This basically means it is a pure POW coin, since nobody will be really interested in the PoS rewards, I think.

I think you really need to consider the compound interest.  1% of the 1% 3 times a day could add up fairly quickly.

can anyone say how much is it with the compound interest?
i made some math, but it's seem (maybe i'm wrong) that in very few higher than 1% year

It looks like 1% interest per year to me, just do the math on the equation.  I'm assuming nCoinAge is in days, not hours:

nCoinAge * COIN_YEAR_REWARD * 33 / (365 * 33 + 8 )

365*.01*33 / (365*33+8) = 0.00999336264

IMHO, I think 1% interest is fine and actually makes the coin strong.  There is complete stability in the money supply with slow growth, and no massive ballooning of coins which drives price down..