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

[TheGer]

Anyone know how to unlock the wallet?

[demologic]

BC: B4Vb69Ug8abgwLavRBKGqrw62UMqTjrTD2

[Jabulon]

One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.

Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.

I see difficulty more as a result of demand. High difficulty is derived from network hashrate. There wouldn't be a very high network hashrate without demand, because anybody mining it wouldn't be making money in comparison to mining other coins. Therefore, difficulty probably is a pretty good indicator of demand. Not to mention the price increase.

I don't entirely agree. The kind of "demand" you speak of is not entirely rational and market-based, nor necessarily sustainable. There is a large element of miner-speculation, and that could go south if the pay-off disappoints. Many are mining it just to follow the herd.  

[dominik375]

'stake miner suspended due to locked wallet ' how to remove this ? how to unencrypt wallet?

[SackofBits]

Does anybody know how many coins Wesley Snipes is dumping today?

is he holding a lot?

Yes, he mine from day one I think.

im scared

[Jabulon]

'stake miner suspended due to locked wallet ' how to remove this ? how to unencrypt wallet?

You DON'T unencrypt. Just unlock.

[rygamble]

One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.

Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.

I see difficulty more as a result of demand. High difficulty is derived from network hashrate. There wouldn't be a very high network hashrate without demand, because anybody mining it wouldn't be making money in comparison to mining other coins. Therefore, difficulty probably is a pretty good indicator of demand. Not to mention the price increase.

I don't entirely agree. The kind of "demand" you speak of is not entirely rational and market-based, nor necessarily sustainable. There is a large element of miner-speculation, and that could go south if the pay-off disappoints. Many are mining it just to follow the herd.  

Just because it's not rational doesn't mean it's not real demand. Look at the tech bubble, the housing market, etc. The price and difficulty are set by the market. I'm not saying the demand couldn't disappear rapidly, but it's certainly there right now. I'm just going to make sure to recoup my initial investment plus some before it gets too risky. Then sit on the large remainder of it and see what happens.

[TheGer]

How to unlock for newbie please

[dominik375]

'stake miner suspended due to locked wallet ' how to remove this ? how to unencrypt wallet?

You DON'T unencrypt. Just unlock.

yes... how to unlock?

[CremeFraiche]

perhaps somebody can give some instructions for dummies what

FAQ

    What sould I do to start PoS mining?
    First, wait until network has 5000 blocks. Then have your wallet unlocked and online.

...means?

This information should be available for everyone, not only for experts! A lot of people asking themselfs "WhereTF is the unlock button?'" And not everybody is native english speaker!

THX

[blade87]

One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.

Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.

Because mining difficulty will determine what the miner is willing to sell at, right at this moment, in the very short-term. At current difficulty there is no way I would sell at 2000 satoshi. I'd be better off mining DOGE. Anything beyond the short-term, the market demand ends up being the main deciding factor, which then adjusts difficulty up or down making a coin more difficult or easier to obtain. But BC is interesting because that demand->difficulty adjustment is non-existent after block 10,000.

The very short mining period also means : good luck paying anything less than the miner is "paying" by investing their equipment into mining this coin. (If you will, then it won't be until after if the coin fails). That's why my logic.

[splitting]

"blocks" : 4980

20 more to go until PoS kicks in

[Jabulon]

One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.

Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.

I see difficulty more as a result of demand. High difficulty is derived from network hashrate. There wouldn't be a very high network hashrate without demand, because anybody mining it wouldn't be making money in comparison to mining other coins. Therefore, difficulty probably is a pretty good indicator of demand. Not to mention the price increase.

I don't entirely agree. The kind of "demand" you speak of is not entirely rational and market-based, nor necessarily sustainable. There is a large element of miner-speculation, and that could go south if the pay-off disappoints. Many are mining it just to follow the herd.  

Just because it's not rational doesn't mean it's not real demand. Look at the tech bubble, the housing market, etc. The price and difficulty are set by the market. I'm not saying the demand couldn't disappear rapidly, but it's certainly there right now. I'm just going to make sure to recoup my initial investment plus some before it gets too risky. Then sit on the large remainder of it and see what happens.

Totally with you as far as the useful role irrationality plays. Let's hope it goes bonkers completely, just as it did with bitcoin. Mind you, most of the people buying bitcoin did not treasure it for it's colossal level of mining difficulty, or even know what difficulty is or means. My point was only, there is not a simple logic going from how hard it is to mine something, to what it will be worth on the market. There are many factors at play simultaneously. I think miners can get a little delusional on this point, imagining that all the resources they pour into a coin does, or 'should' automatically make the product more precious to others.

[Jabulon]

One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.

Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.

Because mining difficulty will determine what the miner is willing to sell at, right at this moment, in the very short-term. At current difficulty there is no way I would sell at 2000 satoshi. I'd be better off mining DOGE. Anything beyond the short-term, the market demand ends up being the main deciding factor (which then adjusts difficulty up or down). But BC is interesting because that demand->difficulty adjustment is non-existent after block 10,000.

Not quite. What the miner is 'willing' to sell at may be determined by many things, including his own desperation or forebodings. And the miner can 'will' all he wants. The buyer may not really give a shit. Unless he's a motivated buyer, for whatever reason.

[TheGer]

Trying to unlock for block 5000 can no one help?

[groggin]

 i believe to unlock an encrypted wallet one would type one's password ...

[blade87]

One thing to consider is that over half of these coins are going to be mined at 400+ difficulty. That alone puts that half at a minimum value of 2500 satoshi if you consider 0.01 BTC/MH/day as the multipool profit benchmark (anything higher is considered a mine and dump). This could coin go well beyond 5000 satoshi and even go up to 10000 sat, considering it seems to be forming a nice base around ~2700 right now and difficulty continues to rise making each new coin worth more and more based off difficulty to mine alone.

Not sure I follow your logic as far as price-discovery. The mere fact that a coin is increasingly hard to mine does not make it more valuable. Market demand does. Now if you say difficulty reduces supply, you'd have a partial basis. But again, scarcity alone does not create value if it is not met with demand.

Because mining difficulty will determine what the miner is willing to sell at, right at this moment, in the very short-term. At current difficulty there is no way I would sell at 2000 satoshi. I'd be better off mining DOGE. Anything beyond the short-term, the market demand ends up being the main deciding factor (which then adjusts difficulty up or down). But BC is interesting because that demand->difficulty adjustment is non-existent after block 10,000.

Not quite. What the miner is 'willing' to sell at may be determined by many things, including his own desperation or forebodings. And the miner can 'will' all he wants. The buyer may not really give a shit. Unless he's a motivated buyer, for whatever reason.

That would be true for any other coin out there (except for maybe MINT)

But, I added this

The very short mining period also means : good luck paying anything less than the miner is "paying" by investing their equipment into mining this coin. (If you will, then it won't be until after if the coin fails). That's why my logic.

This coin favors the miner, and there's no way around it. If the buyer doesn't give a shit, then neither will I and I'll move on to the next coin. I don't lose much mining BC for a week, especially with my long paid off hardware. There are more than enough miners on the coin with the same mentality. This isn't like DOGE where when one miner leaves, three more can take his place in a week, and in another, and a month, and etc.

[paul09]

'Wallet is encrypted and currently locked'

How do I unlock wallet for stake mining?

[Jabulon]

Trying to unlock for block 5000 can no one help?

Go to debug window, console tab. type: walletpassphrase <yourwalletpassword> 9999999 true

[TookDk]

No premine, wallet works fine, pool up running, already on multiple exchanges... and it's black.

I'm in!