[ANN][AC]AsiaCoin - Relaunch

[demologic]

how many hours exactly till the end of POW?

what is POW? sorry I'm new...

Pow means Proof Of Work..simply it is a state of coin, where you can mine it directly. Once POW is over, you will be not able to mine it directly. After POW stage become POS phase (Proof of Stake -  you'll get free asiacoins calculated by number of coins you have on your wallet and the time you have them. Minimum two weeks), which in our case be on wednesday (tomorrow in my case). Only way how to mine this coin during POS phase is using multipool or mine other coins like doge, sell them by your own and buy AC on exchanges. Better buy or mine while you are able to.

really? you will get free coins based on the number of coins in your wallet? how?

[mighty jol]

the same way you get free money based on the money in your savings account dude

pos  income is from all the fees paid by the network, doesn t come from thin air

[WhatDisk]

how many hours exactly till the end of POW?

what is POW? sorry I'm new...

Pow means Proof Of Work..simply it is a state of coin, where you can mine it directly. Once POW is over, you will be not able to mine it directly. After POW stage become POS phase (Proof of Stake -  you'll get free asiacoins calculated by number of coins you have on your wallet and the time you have them. Minimum two weeks), which in our case be on wednesday (tomorrow in my case). Only way how to mine this coin during POS phase is using multipool or mine other coins like doge, sell them by your own and buy AC on exchanges. Better buy or mine while you are able to.

really? you will get free coins based on the number of coins in your wallet? how?

POW ..means  you are worker...

[ahmedjadoon]

Hope this became useful

######### HOW to UNLOCK WALLET ########

So if I just have regular settings, the wallet will be open for stakeing?

Yes, but the regular settings means, that the wallet file is not encrypted aka not save. Always encrypt your wallet for every coin you mine/own and save your password of course

So I should:
1) encrypt my wallet
2) Unlock it
3) Sync
4) Lock it again

And then I will get interest (Stake)

I don't think you need to lock again! Anyone experienced please confirm this@

[ahmedjadoon]

how many hours exactly till the end of POW?

Many says it ends tomorrow that is Wednesday!

[WhatDisk]

how many hours exactly till the end of POW?

Many says it ends tomorrow that is Wednesday!

Hurry to mined

[dukas93]

it's still in POW, I will hold my coin at least 3 Months

[3xk0pt3r]

Hope this became useful

######### HOW to UNLOCK WALLET ########

So if I just have regular settings, the wallet will be open for stakeing?

Yes, but the regular settings means, that the wallet file is not encrypted aka not save. Always encrypt your wallet for every coin you mine/own and save your password of course

So I should:
1) encrypt my wallet
2) Unlock it
3) Sync
4) Lock it again

And then I will get interest (Stake)

I don't think you need to lock again! Anyone experienced please confirm this@

You're right. Once you sync your wallet, just quit. Unlock it and sync it again later, let's say after two weeks.
As it's written on the 1 post, minimum time you hold the coins in the wallet to get stake is 2 weeks:

Min stake age: 2 weeks, no max age

There is 100% first year stake interest, then starting Year 2 = it will have an annual PoS interest of 2%

What I've done:
1. Sent all my coins to my wallet
2. Encrypt it, unlocked it synchronized it and quit
3. Will unlocked it again after two weeks, synced it and quit again
4. ...and I will not sell them this year, because I wont feed hunger of rich people 

[Jilixi]

it's still in POW, I will hold my coin at least 3 Months

yeah right...

[3xk0pt3r]

how many hours exactly till the end of POW?

what is POW? sorry I'm new...

Pow means Proof Of Work..simply it is a state of coin, where you can mine it directly. Once POW is over, you will be not able to mine it directly. After POW stage become POS phase (Proof of Stake -  you'll get free asiacoins calculated by number of coins you have on your wallet and the time you have them. Minimum two weeks), which in our case be on wednesday (tomorrow in my case). Only way how to mine this coin during POS phase is using multipool or mine other coins like doge, sell them by your own and buy AC on exchanges. Better buy or mine while you are able to.

really? you will get free coins based on the number of coins in your wallet? how?

It's easy. Everytime time your wallet is synced (don't forget you have to hold your coins 2 weeks as minimum) those coins are being mined. You'll not loose them but the miners (workers) will proof, you're holding. As a reward, miners will get some coins for their work and you will receive coins as well, because you're the one, who hold them. If you wonder, how coin age is calculated, it's because their block number. This is the system of PoS (Proof Of Stake). Simple as that

[ahmedjadoon]

Hope this became useful

######### HOW to UNLOCK WALLET ########

So if I just have regular settings, the wallet will be open for stakeing?

Yes, but the regular settings means, that the wallet file is not encrypted aka not save. Always encrypt your wallet for every coin you mine/own and save your password of course

So I should:
1) encrypt my wallet
2) Unlock it
3) Sync
4) Lock it again

And then I will get interest (Stake)

I don't think you need to lock again! Anyone experienced please confirm this@

You're right. Once you sync your wallet, just quit. Unlock it and sync it again later, let's say after two weeks.
As it's written on the 1 post, minimum time you hold the coins in the wallet to get stake is 2 weeks:

Min stake age: 2 weeks, no max age

There is 100% first year stake interest, then starting Year 2 = it will have an annual PoS interest of 2%

What I've done:
1. Sent all my coins to my wallet
2. Encrypt it, unlocked it synchronized it and quit
3. Will unlocked it again after two weeks, synced it and quit again
4. ...and I will not sell them this year, because I wont feed hunger of rich people 

We get this interest on weekly basis.Right?If its 100% for a year then we should get 2% every week as per my calculations!

[jorneyflair]

Hi,dev our MP is around the corner, isn't it?

[insanedumps]

insane dump ^^

[3xk0pt3r]

Hope this became useful

######### HOW to UNLOCK WALLET ########

So if I just have regular settings, the wallet will be open for stakeing?

Yes, but the regular settings means, that the wallet file is not encrypted aka not save. Always encrypt your wallet for every coin you mine/own and save your password of course

So I should:
1) encrypt my wallet
2) Unlock it
3) Sync
4) Lock it again

And then I will get interest (Stake)

I don't think you need to lock again! Anyone experienced please confirm this@

You're right. Once you sync your wallet, just quit. Unlock it and sync it again later, let's say after two weeks.
As it's written on the 1 post, minimum time you hold the coins in the wallet to get stake is 2 weeks:

Min stake age: 2 weeks, no max age

There is 100% first year stake interest, then starting Year 2 = it will have an annual PoS interest of 2%

What I've done:
1. Sent all my coins to my wallet
2. Encrypt it, unlocked it synchronized it and quit
3. Will unlocked it again after two weeks, synced it and quit again
4. ...and I will not sell them this year, because I wont feed hunger of rich people  

We get this interest on weekly basis.Right?If its 100% for a year then we should get 2% every week as per my calculations!

Yes. Nice, isn't it   ...more you have, more you get

[mighty jol]

it s going to be a bit less than that because you have to count compound interests into it

a year is 52 weeks, i guess you did 100/52 and rounded at 2% which is unlikely
(still it's way better than the (0.5% a year i get on savings account)

[yingxue]

it's still in POW, I will hold my coin at least 3 Months

yeah right...

I think it is so long time. three monthes, oh, sell panic and buy panice and sell panic, it is so cruel....

I do not like that..

 

[LovSan]

it s going to be a bit less than that because you have to count compound interests into it

a year is 52 weeks, i guess you did 100/52 and rounded at 2% which is unlikely
(still it's way better than the (0.5% a year i get on savings account)

https://bitcointalk.org/index.php?topic=566870.msg6267305;topicseen#msg6267305

I suppose a lot of folks will keep the first year to get that 100% interest, but right after than, im assuming they will dump quickly.
Do you know if the first-year interest is based on when the coin was received or based on the launch date?
In other words, is it a fixed point in time or variable based on when you mined (or bought) the coin?

Exactly,we set the first year interest to 71.5% due to the compounded interest.

71.5% / 52 weeks / 2 = 2.75%
1.0271^26=2.0245457...

You will receive 2.75% every 2 weeks.
And no max coin age does mean you can let your coins sit in your unlocked wallet to get 2.75% every 2 weeks.
Other POS coins you have to move to reset the coin age. Or am I wrong with that?

[insanedumps]

The 25 BTC buy wall man is driving the market

[rkfig]

Note on ac.pool.mn home page:

Dear Miners,
We are planning to set up multipool for AsiaCoin and it will start to operate immediately after the POW stage. You don't have to do anything, just keep your hashes on our pool after POW stage and you will continue receiving AC to your wallets.

POOL.MN

[ahmedjadoon]

I have no idea what is multipooling.Is it more profitable? Because last time when I rented a rig for 0.01BTC/MHs/Day I was lossing much money and it was much cheaper to buy!