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Author Topic: [ANN] CommunityCoin (COMM) | Pure PoS | Original COMM MultiPools Coming Soon  (Read 523644 times)
samysamy1
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April 11, 2014, 08:02:42 PM
 #1301

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i will attempt to answer your questions as you seem too used to NXT.
This is a 1st gen POS coin, not like NXT where staking is used for transaction fees.
1a. it is like interest but is not because it is not calculated at a fixed rate.
2a. you do NOT need to keep your wallet open, but opening it is the only way to get your stake after you have waited for it.
3a. the amount you receive will vary depending on many factors, the most important ones being coin age and amount of coins.
4a. you will definitely gain more coins per stake with more coins.

1b. ok, call it whatever you want. other people wont.
2b. that is not how POS coins work.
3b. again, you do not need to keep your wallet open all the time.
4b. this isnt NXT and you are not staking for transaction fees, you are generating NEW coins.

On the first page of this thread it clearly says that all 1 billion coins have already been created. You cannot create NEW coins in a POS network because they are already in existence, so where does this 'reward come from'? To my understanding is can only come from transaction fees.

What else would be your contribution if you don't keep your wallet open? keeping it open helps the whole community so therefor you get a reward. People who don't keep it open, don't get anything. I wonder how many people have tried this (and I'm not talking about the first transaction that you've received, because this one has to age first, with other words need to reach a certain amount of confirmations because it can start to mint).

By the way do you and others understand what 'interest' means? We should not glorify this term. Due to interest we are in a global economic mess. Interest is a great form of injustice (forbidden by world religions), introduced by zionist Jews to enslave humans. There are many forms of interest (don't know them all) but one of them is lending a needy person money and expecting more back, causing this person to get into more financial trouble. Or another one is to 'invest' money in a company and expect certain returns, even if the company makes losses. A fair way is to share profits as well as losses.
Interest through fiat currency is the reason why BTC gained more popularity (e.g. the banks robbing Greeks).
Of course you have also situations that involves interest but it is not called by it's proper name.

Why do you think you get a reward (or what you call interest). What is the purpose of this all?



Minting happens on chance, much like mining. (BTW your first stake was probably all 1 million coins the 2nd stake was probably much less, 250k?) There's no set time where you can expect to stake, and this is also why you will see variance on how much you get when you *do* stake. Basically your coins become eligible to stake after 24 hours, starting then, you begin to accumulate "weight" on that stack of coins, this is a number that keeps growing as time goes by *without* you being selected to stake, and as your weight increases, you become more likely to be included in a block for payment of stake. The amount you receive is adjusted based on the time you waited - so if you wait longer than average, you get a bigger stake than average. In some other PoS coin wallets, they have an extra icon in the bottom right next to the connections that shows you your weight and the network weight, and an ETA for next stake - unfortunately the COMM wallet does not have this feature, which would be a wonderful addition. (See BlackCoin's wallet for an example of what I mean.)


- You do need your wallet open and available to the network *to be able to stake* - you DO NOT need your wallet open and connected to *pass the 24 hours so coins will be eligible to stake*. So, when you first got your million, you could've left the wallet closed all day, and that stack of coins is still counting down it's 24 hour timer to be able to stake. BUT - to actually allow the coins to BE staked, they must be available to the network with an open, unlocked wallet.

- Reward varies based on weight and time it took to stake, but on average, yes, it is essentially the same per day. ON AVERAGE. People forget this is a system of average performance, do not stake for 1 or 2 days and decide you've got a good grasp on what average performance is. Judge it on a week, a month, etc. You'll see it pans out to expected performance over time, which is how everything in crypto works!

- Having more coins will increase the frequency of your stakes, but unless you have a really really small amount, the average stake gains over time will be the same. If you only have 100 COMM in a wallet though, the problem becomes you might need to wait 10 years to see performance average out, with a million, you have stakes happening so often that it averages out much quicker. It's all a game of chance and averages - if you're trying to stake 1 million out of a billion coins, that's one tenth of 1 percent of the entire network (0.1%) If you're staking 1,000 COMM, that's only 0.0001% of the network - and since blocks always grab a certain amount of coins, it just becomes a situation where your 1,000 COMM has much less chance of being grabbed than some in the 1 Mil stack. But in the end, both would stake the same percentage on average - it just will take the smaller stack a lot longer probably to see the averages work out.



Much of this confusion is because people do not actually read anything about Proof-of-Stake before investing in it. All of this information is the same for every PoS coin, and the specifications are available easily to understand how this works. They may have different time frames and percentages, but the mechanism is always the same. People are just lazy and comfortable being confused. Wink

Just a couple of questions:

- Where does the stake come from. Does it come from transaction fees? What exactly happens in the network?
- Can you please ellaborate on these statements 'But in the end, both would stake the same percentage on average ' and 'but on average, yes, it is essentially the same per day' and 'The amount you receive is adjusted based on the time you waited - so if you wait longer than average, you get a bigger stake than average'. Doesn't this depend on the block (how big or small the block is)?
- I that you have to wait for 24 hours is only for the very first transaction that you've received (1000000). This is also not the exact time, it can be more or less, because it's about the amount of confirmations. Thereafter you don't need to wait for another 24 hour (x amount of confirmations) because I've see someone's wallet who had minted 3 rimes within 1 hour.
- Also what should be addressed is the importance and the purpose for keeping the wallet open. It is not to earn reward in the first place but to help with transaction confirmations and therefore protect the network.
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zzojar
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April 11, 2014, 08:04:39 PM
 #1302

What's going on with allcrypt?
"Peer's Certificate has been revoked."

Is <ex.nintencoin.org> the only working exchange?
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April 11, 2014, 08:05:48 PM
 #1303

Apparently voting on Mintpal is a bad thing to do? I'm confused as to the reasoning on this. I should not vote? Huh?

Voting at Mintpal is good.
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April 11, 2014, 08:07:41 PM
 #1304

We are 20 now.

Donation for community coin multipool creation:

xtester - 10k
bytedisorder - 10k
cryptolemaik - 10k
shinep - 5k
pabloangello - 10k
Nxtblg - 10k
brightlight - 10k
qiwoman - 5k
baby222 - 5k
greenclover - 10k
schnötzel - 10k
EbonHawk - 10k
djm34 - 5k
mmedinas - 10k
Hash72 - 5k
Jengo - 10k
doremi - 5k
JamesOng - 10k
jalmari - 5k
poncom - 5k


P.S. For now we are only pledging to donate.

The multipool will allow people to mine the most profitable coins and automatically convert them and pay miners in communitycoins. This was one of the main reasons behind blackcoins steady price increase.

Good progress. Anybody else?

Mintpal vote update: 4067 and counting.
+10k. Address please.
also, don't forget to vote @mintpal! 4117 now

Haшa гpyшa нaйpoзкopчyмaкyвaтiшa!
lemfuture
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April 11, 2014, 08:25:35 PM
 #1305

We are 20 now.

Donation for community coin multipool creation:

xtester - 10k
bytedisorder - 10k
cryptolemaik - 10k
shinep - 5k
pabloangello - 10k
Nxtblg - 10k
brightlight - 10k
qiwoman - 5k
baby222 - 5k
greenclover - 10k
schnötzel - 10k
EbonHawk - 10k
djm34 - 5k
mmedinas - 10k
Hash72 - 5k
Jengo - 10k
doremi - 5k
JamesOng - 10k
jalmari - 5k
poncom - 5k


P.S. For now we are only pledging to donate.

The multipool will allow people to mine the most profitable coins and automatically convert them and pay miners in communitycoins. This was one of the main reasons behind blackcoins steady price increase.

Good progress. Anybody else?

Mintpal vote update: 4067 and counting.
+10k. Address please.
also, don't forget to vote @mintpal! 4117 now
+5k here. i didnt forget

1ADLcfwTofFXb95pKhebpeRkJ4WTWsvQXB
xtester
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April 11, 2014, 08:30:13 PM
 #1306

We are 25 now.

Donation for community coin multipool creation:

xtester - 10k
bytedisorder - 10k
cryptolemaik - 10k
shinep - 5k
pabloangello - 10k
Nxtblg - 10k
brightlight - 10k
qiwoman - 5k
baby222 - 5k
greenclover - 10k
schnötzel - 10k
EbonHawk - 10k
djm34 - 5k
mmedinas - 10k
Hash72 - 5k
Jengo - 10k
doremi - 5k
JamesOng - 10k
jalmari - 5k
poncom - 5k
Rune - 5k
Equate - 5k
ple - 10k
fudge - 10k
lemfuture - 5k


P.S. For now we are only pledging to donate. Does someone know a dev which would be able to execute the multipool for CommunityCoin?


The multipool will allow people to mine the most profitable coins and automatically convert them and pay miners in communitycoins. This was one of the main reasons behind blackcoins steady price increase.

Good progress. Anybody else?

Mintpal vote update: 4107 and counting.
timecoin
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April 11, 2014, 08:42:24 PM
 #1307

Hi, dev

The idea of communitycoin is great ,fair for all supporter.

I believe this coin has lots of potential if properly supported by good community.

Looking forward to help it grow.

I just post my wallet on ecoiner.com and submit my apply.

I will do my best to support the great coin.

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April 11, 2014, 08:50:21 PM
 #1308

Don't feed the trolls , enough trolling on this thread . Let's post only constructive ideas about coin's future.
neilh
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April 11, 2014, 08:55:59 PM
 #1309


On the first page of this thread it clearly says that all 1 billion coins have already been created. You cannot create NEW coins in a POS network because they are already in existence, so where does this 'reward come from'? To my understanding is can only come from transaction fees.

What else would be your contribution if you don't keep your wallet open? keeping it open helps the whole community so therefor you get a reward. People who don't keep it open, don't get anything. I wonder how many people have tried this (and I'm not talking about the first transaction that you've received, because this one has to age first, with other words need to reach a certain amount of confirmations because it can start to mint).

By the way do you and others understand what 'interest' means? We should not glorify this term. Due to interest we are in a global economic mess. Interest is a great form of injustice (forbidden by world religions), introduced by zionist Jews to enslave humans. There are many forms of interest (don't know them all) but one of them is lending a needy person money and expecting more back, causing this person to get into more financial trouble. Or another one is to 'invest' money in a company and expect certain returns, even if the company makes losses. A fair way is to share profits as well as losses.
Interest through fiat currency is the reason why BTC gained more popularity (e.g. the banks robbing Greeks).
Of course you have also situations that involves interest but it is not called by it's proper name.

Why do you think you get a reward (or what you call interest). What is the purpose of this all?



Minting happens on chance, much like mining. (BTW your first stake was probably all 1 million coins the 2nd stake was probably much less, 250k?) There's no set time where you can expect to stake, and this is also why you will see variance on how much you get when you *do* stake. Basically your coins become eligible to stake after 24 hours, starting then, you begin to accumulate "weight" on that stack of coins, this is a number that keeps growing as time goes by *without* you being selected to stake, and as your weight increases, you become more likely to be included in a block for payment of stake. The amount you receive is adjusted based on the time you waited - so if you wait longer than average, you get a bigger stake than average. In some other PoS coin wallets, they have an extra icon in the bottom right next to the connections that shows you your weight and the network weight, and an ETA for next stake - unfortunately the COMM wallet does not have this feature, which would be a wonderful addition. (See BlackCoin's wallet for an example of what I mean.)


- You do need your wallet open and available to the network *to be able to stake* - you DO NOT need your wallet open and connected to *pass the 24 hours so coins will be eligible to stake*. So, when you first got your million, you could've left the wallet closed all day, and that stack of coins is still counting down it's 24 hour timer to be able to stake. BUT - to actually allow the coins to BE staked, they must be available to the network with an open, unlocked wallet.

- Reward varies based on weight and time it took to stake, but on average, yes, it is essentially the same per day. ON AVERAGE. People forget this is a system of average performance, do not stake for 1 or 2 days and decide you've got a good grasp on what average performance is. Judge it on a week, a month, etc. You'll see it pans out to expected performance over time, which is how everything in crypto works!

- Having more coins will increase the frequency of your stakes, but unless you have a really really small amount, the average stake gains over time will be the same. If you only have 100 COMM in a wallet though, the problem becomes you might need to wait 10 years to see performance average out, with a million, you have stakes happening so often that it averages out much quicker. It's all a game of chance and averages - if you're trying to stake 1 million out of a billion coins, that's one tenth of 1 percent of the entire network (0.1%) If you're staking 1,000 COMM, that's only 0.0001% of the network - and since blocks always grab a certain amount of coins, it just becomes a situation where your 1,000 COMM has much less chance of being grabbed than some in the 1 Mil stack. But in the end, both would stake the same percentage on average - it just will take the smaller stack a lot longer probably to see the averages work out.



Much of this confusion is because people do not actually read anything about Proof-of-Stake before investing in it. All of this information is the same for every PoS coin, and the specifications are available easily to understand how this works. They may have different time frames and percentages, but the mechanism is always the same. People are just lazy and comfortable being confused. Wink

Just a couple of questions:

- Where does the stake come from. Does it come from transaction fees? What exactly happens in the network?
- Can you please ellaborate on these statements 'But in the end, both would stake the same percentage on average ' and 'but on average, yes, it is essentially the same per day' and 'The amount you receive is adjusted based on the time you waited - so if you wait longer than average, you get a bigger stake than average'. Doesn't this depend on the block (how big or small the block is)?
- I that you have to wait for 24 hours is only for the very first transaction that you've received (1000000). This is also not the exact time, it can be more or less, because it's about the amount of confirmations. Thereafter you don't need to wait for another 24 hour (x amount of confirmations) because I've see someone's wallet who had minted 3 rimes within 1 hour.
- Also what should be addressed is the importance and the purpose for keeping the wallet open. It is not to earn reward in the first place but to help with transaction confirmations and therefore protect the network.


The 1 billion are from PoW mining, all be it they were all created from
the start. Now it's pure PoS, where your balance is what mints new
coins. Looking at the source there is a hard cap of 2.5 billion.

The stake comes from your balance. And when they are eligible, it puts
some of your balance into the stake field while it matures and receives
the 50 confirmations.


Here's my latest minted coins and you can see the 250k in the stake field...

(now the 50 confirmations have been received, that has returned to my full balance)

LIghtvelocityCoin
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April 11, 2014, 09:10:32 PM
 #1310

I come back to the community finally.

One week ago, I was trying to spread our COMM to more people.
I posted advertise on several thread, nxt, bc, nem. Hope it can attract some attention.
And then......... I got banned for a week due to spam.   Angry Angry Angry Angry

Never do this kind of stupid thing from now on.   Angry Angry Angry

And what positive can I do for the community now, besides voting on mintpal ? Huh

lemfuture
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April 11, 2014, 09:19:58 PM
 #1311

I come back to the community finally.

One week ago, I was trying to spread our COMM to more people.
I posted advertise on several thread, nxt, bc, nem. Hope it can attract some attention.
And then......... I got banned for a week due to spam.   Angry Angry Angry Angry

Never do this kind of stupid thing from now on.   Angry Angry Angry

And what positive can I do for the community now, besides voting on mintpal ? Huh
make video about the coin

1ADLcfwTofFXb95pKhebpeRkJ4WTWsvQXB
poncom
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April 11, 2014, 09:20:36 PM
 #1312

I come back to the community finally.

One week ago, I was trying to spread our COMM to more people.
I posted advertise on several thread, nxt, bc, nem. Hope it can attract some attention.
And then......... I got banned for a week due to spam.   Angry Angry Angry Angry

Never do this kind of stupid thing from now on.   Angry Angry Angry

And what positive can I do for the community now, besides voting on mintpal ? Huh

You can post here to get COMM on bter

I just requested for community coin to be added to the list of coins you can vote for in the bter thread. It's only a start but if enough of us ask they will add COMM to their poll, then we can start voting for it to be added to bter.

You can request for COMM to be added to their poll here

https://bitcointalk.org/index.php?topic=502363.0


You can pledge to donate for a COMM multipool here

We are 25 now.

Donation for community coin multipool creation:

xtester - 10k
bytedisorder - 10k
cryptolemaik - 10k
shinep - 5k
pabloangello - 10k
Nxtblg - 10k
brightlight - 10k
qiwoman - 5k
baby222 - 5k
greenclover - 10k
schnötzel - 10k
EbonHawk - 10k
djm34 - 5k
mmedinas - 10k
Hash72 - 5k
Jengo - 10k
doremi - 5k
JamesOng - 10k
jalmari - 5k
poncom - 5k
Rune - 5k
Equate - 5k
ple - 10k
fudge - 10k
lemfuture - 5k


P.S. For now we are only pledging to donate. Does someone know a dev which would be able to execute the multipool for CommunityCoin?


The multipool will allow people to mine the most profitable coins and automatically convert them and pay miners in communitycoins. This was one of the main reasons behind blackcoins steady price increase.

Good progress. Anybody else?

Mintpal vote update: 4107 and counting.
samysamy1
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April 11, 2014, 09:24:43 PM
 #1313

Quote
i will attempt to answer your questions as you seem too used to NXT.
This is a 1st gen POS coin, not like NXT where staking is used for transaction fees.
1a. it is like interest but is not because it is not calculated at a fixed rate.
2a. you do NOT need to keep your wallet open, but opening it is the only way to get your stake after you have waited for it.
3a. the amount you receive will vary depending on many factors, the most important ones being coin age and amount of coins.
4a. you will definitely gain more coins per stake with more coins.

1b. ok, call it whatever you want. other people wont.
2b. that is not how POS coins work.
3b. again, you do not need to keep your wallet open all the time.
4b. this isnt NXT and you are not staking for transaction fees, you are generating NEW coins.

On the first page of this thread it clearly says that all 1 billion coins have already been created. You cannot create NEW coins in a POS network because they are already in existence, so where does this 'reward come from'? To my understanding is can only come from transaction fees.

What else would be your contribution if you don't keep your wallet open? keeping it open helps the whole community so therefor you get a reward. People who don't keep it open, don't get anything. I wonder how many people have tried this (and I'm not talking about the first transaction that you've received, because this one has to age first, with other words need to reach a certain amount of confirmations because it can start to mint).

By the way do you and others understand what 'interest' means? We should not glorify this term. Due to interest we are in a global economic mess. Interest is a great form of injustice (forbidden by world religions), introduced by zionist Jews to enslave humans. There are many forms of interest (don't know them all) but one of them is lending a needy person money and expecting more back, causing this person to get into more financial trouble. Or another one is to 'invest' money in a company and expect certain returns, even if the company makes losses. A fair way is to share profits as well as losses.
Interest through fiat currency is the reason why BTC gained more popularity (e.g. the banks robbing Greeks).
Of course you have also situations that involves interest but it is not called by it's proper name.

Why do you think you get a reward (or what you call interest). What is the purpose of this all?



Minting happens on chance, much like mining. (BTW your first stake was probably all 1 million coins the 2nd stake was probably much less, 250k?) There's no set time where you can expect to stake, and this is also why you will see variance on how much you get when you *do* stake. Basically your coins become eligible to stake after 24 hours, starting then, you begin to accumulate "weight" on that stack of coins, this is a number that keeps growing as time goes by *without* you being selected to stake, and as your weight increases, you become more likely to be included in a block for payment of stake. The amount you receive is adjusted based on the time you waited - so if you wait longer than average, you get a bigger stake than average. In some other PoS coin wallets, they have an extra icon in the bottom right next to the connections that shows you your weight and the network weight, and an ETA for next stake - unfortunately the COMM wallet does not have this feature, which would be a wonderful addition. (See BlackCoin's wallet for an example of what I mean.)


- You do need your wallet open and available to the network *to be able to stake* - you DO NOT need your wallet open and connected to *pass the 24 hours so coins will be eligible to stake*. So, when you first got your million, you could've left the wallet closed all day, and that stack of coins is still counting down it's 24 hour timer to be able to stake. BUT - to actually allow the coins to BE staked, they must be available to the network with an open, unlocked wallet.

- Reward varies based on weight and time it took to stake, but on average, yes, it is essentially the same per day. ON AVERAGE. People forget this is a system of average performance, do not stake for 1 or 2 days and decide you've got a good grasp on what average performance is. Judge it on a week, a month, etc. You'll see it pans out to expected performance over time, which is how everything in crypto works!

- Having more coins will increase the frequency of your stakes, but unless you have a really really small amount, the average stake gains over time will be the same. If you only have 100 COMM in a wallet though, the problem becomes you might need to wait 10 years to see performance average out, with a million, you have stakes happening so often that it averages out much quicker. It's all a game of chance and averages - if you're trying to stake 1 million out of a billion coins, that's one tenth of 1 percent of the entire network (0.1%) If you're staking 1,000 COMM, that's only 0.0001% of the network - and since blocks always grab a certain amount of coins, it just becomes a situation where your 1,000 COMM has much less chance of being grabbed than some in the 1 Mil stack. But in the end, both would stake the same percentage on average - it just will take the smaller stack a lot longer probably to see the averages work out.



Much of this confusion is because people do not actually read anything about Proof-of-Stake before investing in it. All of this information is the same for every PoS coin, and the specifications are available easily to understand how this works. They may have different time frames and percentages, but the mechanism is always the same. People are just lazy and comfortable being confused. Wink

Just a couple of questions:

- Where does the stake come from. Does it come from transaction fees? What exactly happens in the network?
- Can you please ellaborate on these statements 'But in the end, both would stake the same percentage on average ' and 'but on average, yes, it is essentially the same per day' and 'The amount you receive is adjusted based on the time you waited - so if you wait longer than average, you get a bigger stake than average'. Doesn't this depend on the block (how big or small the block is)?
- I that you have to wait for 24 hours is only for the very first transaction that you've received (1000000). This is also not the exact time, it can be more or less, because it's about the amount of confirmations. Thereafter you don't need to wait for another 24 hour (x amount of confirmations) because I've see someone's wallet who had minted 3 rimes within 1 hour.
- Also what should be addressed is the importance and the purpose for keeping the wallet open. It is not to earn reward in the first place but to help with transaction confirmations and therefore protect the network.


Well, normally I'd type a lot and help clarify things for you. But since you're a bigoted prick that doesn't know anything but assumes he does (you're flat wrong about PoS), here, educate yourself dumbass: https://en.bitcoin.it/wiki/Proof_of_Stake

I'm only asking questions in order to understand this POs of the first generation and how it is different from the second generation. I don't understand why you're being rude, or is it that you cannot answer my questions?
I can't do much with the site you provided, cos it's too complicated for me.
I don't think you're a good asset to the community, cos you have an arrogant attitude towards people who are interested in this coin but do not understand fully the concept.
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April 11, 2014, 09:25:12 PM
 #1314

This idea of Communitycoin is damned good,it's also a really great coin with its fairness.

Let's spread the word in our friends.

I put my information on ecoiner.

Thank you,dev.

Best regards.

YinCoin YangCoin ☯☯First Ever POS/POW Alternator! Multipool! ☯ ☯ http://yinyangpool.com/ 
https://bitcointalk.org/index.php?topic=623937
Bwincoin - 100% Free POS. BBzwiwL76AkPGE42qN3FrpC1efuSoFoAxc
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April 11, 2014, 09:26:07 PM
 #1315

Charts here: http://crypto-prices.com/COMM

Donate BTC: 1NRG17fYCNcfQvQHC3G9TUAowNKsM4oTWA
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April 11, 2014, 09:28:09 PM
 #1316


On the first page of this thread it clearly says that all 1 billion coins have already been created. You cannot create NEW coins in a POS network because they are already in existence, so where does this 'reward come from'? To my understanding is can only come from transaction fees.

What else would be your contribution if you don't keep your wallet open? keeping it open helps the whole community so therefor you get a reward. People who don't keep it open, don't get anything. I wonder how many people have tried this (and I'm not talking about the first transaction that you've received, because this one has to age first, with other words need to reach a certain amount of confirmations because it can start to mint).

By the way do you and others understand what 'interest' means? We should not glorify this term. Due to interest we are in a global economic mess. Interest is a great form of injustice (forbidden by world religions), introduced by zionist Jews to enslave humans. There are many forms of interest (don't know them all) but one of them is lending a needy person money and expecting more back, causing this person to get into more financial trouble. Or another one is to 'invest' money in a company and expect certain returns, even if the company makes losses. A fair way is to share profits as well as losses.
Interest through fiat currency is the reason why BTC gained more popularity (e.g. the banks robbing Greeks).
Of course you have also situations that involves interest but it is not called by it's proper name.

Why do you think you get a reward (or what you call interest). What is the purpose of this all?



Minting happens on chance, much like mining. (BTW your first stake was probably all 1 million coins the 2nd stake was probably much less, 250k?) There's no set time where you can expect to stake, and this is also why you will see variance on how much you get when you *do* stake. Basically your coins become eligible to stake after 24 hours, starting then, you begin to accumulate "weight" on that stack of coins, this is a number that keeps growing as time goes by *without* you being selected to stake, and as your weight increases, you become more likely to be included in a block for payment of stake. The amount you receive is adjusted based on the time you waited - so if you wait longer than average, you get a bigger stake than average. In some other PoS coin wallets, they have an extra icon in the bottom right next to the connections that shows you your weight and the network weight, and an ETA for next stake - unfortunately the COMM wallet does not have this feature, which would be a wonderful addition. (See BlackCoin's wallet for an example of what I mean.)


- You do need your wallet open and available to the network *to be able to stake* - you DO NOT need your wallet open and connected to *pass the 24 hours so coins will be eligible to stake*. So, when you first got your million, you could've left the wallet closed all day, and that stack of coins is still counting down it's 24 hour timer to be able to stake. BUT - to actually allow the coins to BE staked, they must be available to the network with an open, unlocked wallet.

- Reward varies based on weight and time it took to stake, but on average, yes, it is essentially the same per day. ON AVERAGE. People forget this is a system of average performance, do not stake for 1 or 2 days and decide you've got a good grasp on what average performance is. Judge it on a week, a month, etc. You'll see it pans out to expected performance over time, which is how everything in crypto works!

- Having more coins will increase the frequency of your stakes, but unless you have a really really small amount, the average stake gains over time will be the same. If you only have 100 COMM in a wallet though, the problem becomes you might need to wait 10 years to see performance average out, with a million, you have stakes happening so often that it averages out much quicker. It's all a game of chance and averages - if you're trying to stake 1 million out of a billion coins, that's one tenth of 1 percent of the entire network (0.1%) If you're staking 1,000 COMM, that's only 0.0001% of the network - and since blocks always grab a certain amount of coins, it just becomes a situation where your 1,000 COMM has much less chance of being grabbed than some in the 1 Mil stack. But in the end, both would stake the same percentage on average - it just will take the smaller stack a lot longer probably to see the averages work out.



Much of this confusion is because people do not actually read anything about Proof-of-Stake before investing in it. All of this information is the same for every PoS coin, and the specifications are available easily to understand how this works. They may have different time frames and percentages, but the mechanism is always the same. People are just lazy and comfortable being confused. Wink

Just a couple of questions:

- Where does the stake come from. Does it come from transaction fees? What exactly happens in the network?
- Can you please ellaborate on these statements 'But in the end, both would stake the same percentage on average ' and 'but on average, yes, it is essentially the same per day' and 'The amount you receive is adjusted based on the time you waited - so if you wait longer than average, you get a bigger stake than average'. Doesn't this depend on the block (how big or small the block is)?
- I that you have to wait for 24 hours is only for the very first transaction that you've received (1000000). This is also not the exact time, it can be more or less, because it's about the amount of confirmations. Thereafter you don't need to wait for another 24 hour (x amount of confirmations) because I've see someone's wallet who had minted 3 rimes within 1 hour.
- Also what should be addressed is the importance and the purpose for keeping the wallet open. It is not to earn reward in the first place but to help with transaction confirmations and therefore protect the network.


The 1 billion are from PoW mining, all be it they were all created from
the start. Now it's pure PoS, where your balance is what mints new
coins. Looking at the source there is a hard cap of 2.5 billion.

The stake comes from your balance. And when they are eligible, it puts
some of your balance into the stake field while it matures and receives
the 50 confirmations.


Here's my latest minted coins and you can see the 250k in the stake field...

(now the 50 confirmations have been received, that has returned to my full balance)



Thank you, do you know why only 250K instead of the whole balance is used for the stake? Also where do the minted coins come from? Does this come from the transaction fees (like Nxt?) People are not getting robbed from their coins and send to others, and coins are already in existence.
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April 11, 2014, 09:30:00 PM
 #1317

4162 votes. Vote on mintpal when I can.  Grin

I AM GONNA TRANSFER ALL YOUR BITCOINS TO MY SECRET POCKET CHANGE YOUR PASSWORDS BEFORE IT IS TOO LATE MUAHAHAHAHA
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April 11, 2014, 09:34:06 PM
 #1318


Thank you, do you know why only 250K instead of the whole balance is used for the stake? Also where do the minted coins come from? Does this come from the transaction fees (like Nxt?) People are not getting robbed from their coins and send to others, and coins are already in existence.

It depends on the coin-days which meets the minimum time holding (e.g. 1day). If you have the 1 mil coins at about the same time, you should get 4 blocks. The others should come if you leave the wallet open.
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April 11, 2014, 10:06:10 PM
 #1319


Thanks for the link; I just added it to the Community Coin subreddit.

http://www.reddit.com/r/communitycoin/comments/22t8x9/community_coin_price_chart_at_cryptopricescom_in/

Subreddit's here if anyone wants to join: http://www.reddit.com/r/communitycoin/






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April 11, 2014, 10:47:59 PM
 #1320


Thank you, do you know why only 250K instead of the whole balance is used for the stake? Also where do the minted coins come from? Does this come from the transaction fees (like Nxt?) People are not getting robbed from their coins and send to others, and coins are already in existence.

The amount that stakes is like cryptolemaik mentioned. It's based on
the time you've waited, so if you didn't open your wallet for example 1
month, it will stake a bigger part of your balance. Wait long enough and
it will stake the full balance.

The minted coins are new, and can be compared to PoW mining. They
are not from tx fees, nor are they coming from anyone else. They are
freshly minted = mined coins.
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