[ANN] (WC) | WhiteCoin | BIG NEWS: Foundation, investors & more ☯ whitecoin.info

Hello,

This is my very first coin purchase and although I now realize I may have paid too much lol, I wanted to stake because it seems that is the thing to do to get additional coins and then when value goes up, I will have more. I have Windows wallet download now and syncing with network and says 12 active connections. Is my PC doing some type of mining with 12 connections? I will be hones, I know almost nothing about crypto or mining and has been a victory for me to even get money into the exchange to buy coin and transfer to my wallet. I have done a lot of reading on past post, so hopefully this is not a redundant question as I did not here it before now.

All the best!

pete

imo at this level its pretty much a steal, this is easy 10x long term ROI when you take long term plans and future development into consideration

there's lot of good information about staking at http://whitecoin.info/news/faqs/
there's no mining, instead you are rewarded for your loyalty to the coin, exactly as banks rewards you with interest for the money you keep with them with your account.
so while you keep coins in your wallet, they will "stake" (minting process) and you are rewarded with "interest"

Thanks!

Yes I did read through the FAQ, but it doesn't talk about the Active Connections to Whitecoin Network so I was just curious what those connections do. Are those all my connects or are those the other people staking coins?

Active Connections are p2p links to other wallets - this is how transactions are communicated across the network. If you send or receive coins, you get/send transaction data to/from your peered connections. New blocks are communicated via p2p as well. It's all decentralized, and by running the wallet, you are part of that distributed network.

Ah, like a torrent. Got it. So there are only 12 peers right now?

OK, disregard my last post as it turns out those are just tuned connections for the wallet from looking at the PPC coin this is based on looking through that forum. I did not see if there was a way to adjust those to reduce or increase the amount for better staking though. That would be nice to know. Also, still kinda looking at if it is better to send a bunch of little transactions or a few bigger ones. Did not see that in FAQ and just been reading different ideas on this so kinda confused. Thanks for some help it has been good and appreciated!

I have big and small transactions, with many new transactions coming in daily which makes things fun.

Personally I like nice sized transactions as my core holdings, then add mid and smaller amounts daily

Some people are of the opinion that multiple transactions may yield more frequent results however the big transaction(s) will split over time and stake independent transactions (in what interval, I am not sure, never monitored this piece).

Count me in as one who took 99% of WC holdings off exchanges for staking

I am done playing the pump and dump games; It gets old after a few years. I am holding this coin for the long-run.