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

[Degolep]

OK Blackcoin commercial... what do you think? Pass it out to others if ya like it!

https://www.youtube.com/watch?v=T-13PX0IDPY[/size][/b]

I like "In soviet Russia, Blackcoin mine you."

lololol 

[germsite]

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

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%.

[troiste]

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

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%.

Ah, thats sounds better but what you mean by "compound interest"? Can you give an example?

[Daedelus]

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

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%.

Ah, thank you.

At what rate is the interest compounded (hourly/daily)?

[troiste]

for what I read here:

http://altcoingiveaways.com/index.php?topic=1127.0

and here:

http://altcoinauthority.com/2014/02/blackcoin-pos-on-steroids/

Its every 8 hours.

But how is this compound interest calculated?

[germsite]

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

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%.

Ah, thats sounds better but what you mean by "compound interest"? Can you give an example?

If you keep your wallet open permanently, you earn a fraction of your annual 1% each day ( 1/365th to be precise ). So for every day that passes, you are earning 1/365th of your original wallet's value plus interest already earned.

If you start with 100,000 BC today, tomorrow you will earn : ( 100,000 * .01 ) / 365  = 2.7BC

So tomorrow your balance will be 100,002.7

You will then earn interest on that balance, which is :  ( 100,002.7 * .01 ) / 365  = 2.74BC

So your balance will increase to : 100,005.44

And so on

[warr1979]

IMO..... This pre planes pump is the first mistake that black coin has made.  I hate the ups and downs and manipulation like everyone else but for theoat part this coin has fallen higher after each dump.  This coin needs to keep developing and getting the adaptation as a currency.  I think we need to worry about things we can control instead of focusing on the minute to minute price.  Trust me I hate it to but don't you think the manpulaters read this as well?? This see that there winning and getting into people's heads and are not going to stop.  If this coin is what we think it can be then it will be by the hard work these guys are putting in.  Did the manipulation say 3-4 weeks ago matter now?? NO why?? Compare prices!!  So IMO just keep developing and making a great coin and a great community and stop focusing on people playing with your emotions.

[troiste]

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

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%.

Ah, thats sounds better but what you mean by "compound interest"? Can you give an example?

If you keep your wallet open permanently, you earn a fraction of your annual 1% each day ( 1/365th to be precise ). So for every day that passes, you are earning 1/365th of your original wallet's value plus interest already earned.

If you start with 100,000 BC today, tomorrow you will earn : ( 100,000 * .01 ) / 365  = 2.7BC

So tomorrow your balance will be 100,002.7

You will then earn interest on that balance, which is :  ( 100,002.7 * .01 ) / 365  = 2.74BC

So your balance will increase to : 100,005.44

And so on

Thanks sounds clear

[Subtuppel]

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

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%.

whoops, ok my bad.
I never considered not being online (since the wallet is on a 99,99% uptime high security server i am using for other stuff). To me it would make more sense the way i (mis-)understood it though, since i understood it as a reward for securing the network.

[c-cex]

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[Daedelus]

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

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%.

Ah, thats sounds better but what you mean by "compound interest"? Can you give an example?

If you keep your wallet open permanently, you earn a fraction of your annual 1% each day ( 1/365th to be precise ). So for every day that passes, you are earning 1/365th of your original wallet's value plus interest already earned.

If you start with 100,000 BC today, tomorrow you will earn : ( 100,000 * .01 ) / 365  = 2.7BC

So tomorrow your balance will be 100,002.7

You will then earn interest on that balance, which is :  ( 100,002.7 * .01 ) / 365  = 2.74BC

So your balance will increase to : 100,005.44

And so on

So you get 1% from opening up you wallet (inflation element) and an additional 1.005% from staking constantly for a year (((.01/365)+1)^365) -1 = 1.0050029%  

(N.B. the staking period appears to be 8 hours so 365*3 = 1095 should probably be used instead of 365 to get a true rate, it will be the same in the end though)

Where does the BC for the staking come from? Fees?

[Djinou94]

http://www.followthecoin.com/blackcoin-supports-dogecon-first-coin-to-ever-support-a-conference/

wow, such friendly, much shibe, so black

The ultimate alliance!
Spam the Mintpal dev box for add an exchange BC/DOGE guys!!!

[TheGreatWodan]

I think it has a great future and I´ll buy some more.

[nrg_wolf]

I think it has a great future and I´ll buy some more.

i buy daily and mine the multipool as well .

[Zackgeno96]

closing in on page 1200 :O so quick!

[hellyeahent]

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

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%.

Ah, thats sounds better but what you mean by "compound interest"? Can you give an example?

If you keep your wallet open permanently, you earn a fraction of your annual 1% each day ( 1/365th to be precise ). So for every day that passes, you are earning 1/365th of your original wallet's value plus interest already earned.

If you start with 100,000 BC today, tomorrow you will earn : ( 100,000 * .01 ) / 365  = 2.7BC

So tomorrow your balance will be 100,002.7

You will then earn interest on that balance, which is :  ( 100,002.7 * .01 ) / 365  = 2.74BC

So your balance will increase to : 100,005.44

And so on

So you get 1% from opening up you wallet (inflation element) and an additional 1.005% from staking constantly for a year (((.01/365)+1)^365) -1 = 1.0050029%  

(N.B. the staking period appears to be 8 hours so 365*3 = 1095 should probably be used instead of 365 to get a true rate, it will be the same in the end though)

Where does the BC for the staking come from? Fees?

Yes ~1,1% is accurate i think. No Fees goes to miners, this 1,1% (what is very small and Imo still more than 1,1% of coins will be lost (buy forgeting passwords, hardware destroted, sb buy 10 and forget about it etc) so this coin is deflational I think . And this 1,1% is created and added to whole ~75M

[ffmad]

Black Whale Community Pump (4/25/2013 - 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!!!

Man !!

Do you realize that 8PM EST is 2AM in Western Europe ? 

If you do that you just loose the European Community for this pump.

If you do that at 5PM or 6PM EST, you will have much more people from Europe.

[dominikf]

http://www.followthecoin.com/blackcoin-supports-dogecon-first-coin-to-ever-support-a-conference/

wow, such friendly, much shibe, so black

The ultimate alliance!
Spam the Mintpal dev box for add an exchange BC/DOGE guys!!!

I think we should go straight away for BC/USD and BC/EUR. BC should stand on its own. No dependence from other alt coins or bitcoin.  

[dominikf]

Black Whale Community Pump (4/25/2013 - 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!!!

Man !!

Do you realize that 8PM EST is 2AM in Western Europe ? 

If you do that you just loose the European Community for this pump.

If you do that at 5PM or 6PM EST, you will have much more people from Europe.

Exactly. Do this a few hours earlier and the european community will help in this pump. 

[hellyeahent]

IMO..... This pre planes pump is the first mistake that black coin has made.  I hate the ups and downs and manipulation like everyone else but for theoat part this coin has fallen higher after each dump.  This coin needs to keep developing and getting the adaptation as a currency.  I think we need to worry about things we can control instead of focusing on the minute to minute price.  Trust me I hate it to but don't you think the manpulaters read this as well?? This see that there winning and getting into people's heads and are not going to stop.  If this coin is what we think it can be then it will be by the hard work these guys are putting in.  Did the manipulation say 3-4 weeks ago matter now?? NO why?? Compare prices!!  So IMO just keep developing and making a great coin and a great community and stop focusing on people playing with your emotions.

I think the same, free money for daytraders. They will buy for 40-45k (and we buy - pump phase) and when we reach lets say 60-70k sat they will insta dump. 50% profit, price go down to ~50-55k and ppl who bought at 55-60/70k losses (and those ppl should be rewarded not punished). Plz reconsider.