[ANN] Orbitcoin v1.6.3.0 ~ NeoScrypt ~ Green Stake ~ 10 Years Old

[CrazyLoaf]

Any suggestions on block size or does it not really matter? Some PoS coins seem to have max reward limits.

[1714001044]

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[1714001044]

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[1714001044]

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[pharesim]

As this coin isn't on any of the big exchanges yet, I thought you might be interested in adding it to the decentralized NHZ Asset Exchange yourself.

All you need is a server (for security reasons: better two) to run the gateway on. We can provide you with the necessary software and support with setup.

https://bitcointalk.org/index.php?topic=696171.0

[ghostlander]

As this coin isn't on any of the big exchanges yet, I thought you might be interested in adding it to the decentralized NHZ Asset Exchange yourself.

ORB is traded on Cryptsy, AllCoin, AllCrypt and Comkort. No idea what is big enough for you.

[Mad_Max]

Any suggestions on block size or does it not really matter? Some PoS coins seem to have max reward limits.

ORB have fixed block reward (currently = 1 coin) not matter PoW or PoS generated.
So 1 ORB per block it is a minimum, maximum and average reward at same time. 

[CrazyLoaf]

Any suggestions on block size or does it not really matter? Some PoS coins seem to have max reward limits.

ORB have fixed block reward (currently = 1 coin) not matter PoW or PoS generated.
So 1 ORB per block it is a minimum, maximum and average reward at same time. 

So if you deposit 5k into an ORB wallet, you only get 1 ORB? Or ~ 250 ORB? That's what I'm wondering Do I need to break my wrist and split it up 250 different ways?

[Mad_Max]

You get 1 ORB per each block found.

For detail how it work just read posts from previous page:

https://bitcointalk.org/index.php?topic=586674.msg7744291#msg7744291

https://bitcointalk.org/index.php?topic=586674.msg7778338#msg7778338

[CrazyLoaf]

You get 1 ORB per each block found.

For detail how it work just read posts from previous page:

https://bitcointalk.org/index.php?topic=586674.msg7744291#msg7744291

https://bitcointalk.org/index.php?topic=586674.msg7778338#msg7778338

But all this is for optimization, right? Like we're talking about 400 ORB with a 10k deposit vs 500 ORB with 500 separate 20 ORB deposits?

[Mad_Max]

I thought I explained clearly ...
No, at the initial stage (first few weeks), the difference will be huge:
- if left 10k coins just by one big transaction - after 5 days will generate just 1 block (and awarded 1 coin). and the transaction will be divided into two (2x5000 coins). After a next  5 days will be generated 2 blocks (+2 coin awards, 3 total) and two transactions are divided into four (4x2500) and so on until wallet not split all transactions to <50 ORBs pcs
- if you manual split 10k to many small inputs (for example 250x40) you will get 250 blocks and 250 coins as reward (but it will take not just 5 days but about 2 weeks at current difficulty - because smaller input - longer it staking before find blocks)

But in long term is no any difference between manual and automatic - after some time (depend of size of initial transaction) all transactions will be split by wallet to 25-50 coins inputs.

So you decide - to spend time at the beginning to immediately start earning the highest returns possible or leave everything to automatically wallet control and wait while wallet itself will rump up to maximum revenue.
And any intermediate options also possible: if it's too boring and long to break into small transactions (20-50 coins) can be divided into medium sized - say by 20x500, and leave wallet to finish rest (500==>250==>125==>62.5==>31.25).

[CrazyLoaf]

I thought I explained clearly ...
No, at the initial stage (first few weeks), the difference will be huge:
- if left 10k coins just by one big transaction - after 5 days will generate just 1 block (and awarded 1 coin). and the transaction will be divided into two (2x5000 coins). After a next  5 days will be generated 2 blocks (+2 coin awards, 3 total) and two transactions are divided into four (4x2500) and so on until wallet not split all transactions to <50 ORBs pcs
- if you manual split 10k to many small inputs (for example 250x40) you will get 250 blocks and 250 coins as reward (but it will take not just 5 days but about 2 weeks at current difficulty - because smaller input - longer it staking before find blocks)

But in long term is no any difference between manual and automatic - after some time (depend of size of initial transaction) all transactions will be split by wallet to 25-50 coins inputs.

So you decide - to spend time at the beginning to immediately start earning the highest returns possible or leave everything to automatically wallet control and wait while wallet itself will rump up to maximum revenue.
And any intermediate options also possible: if it's too boring and long to break into small transactions (20-50 coins) can be divided into medium sized - say by 20x500, and leave wallet to finish rest (500==>250==>125==>62.5==>31.25).

Thank you. That's an interesting mechanic. However, it looks like say you split 10k into 20 coin blocks. You'll get the first reward, but since a stake causes the coins to split (into 10 coin blocks), you'll never get another reward since none of the blocks are sized at 20. Is this also correct?

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[ghostlander]

I thought I explained clearly ...
No, at the initial stage (first few weeks), the difference will be huge:
- if left 10k coins just by one big transaction - after 5 days will generate just 1 block (and awarded 1 coin). and the transaction will be divided into two (2x5000 coins). After a next  5 days will be generated 2 blocks (+2 coin awards, 3 total) and two transactions are divided into four (4x2500) and so on until wallet not split all transactions to <50 ORBs pcs
- if you manual split 10k to many small inputs (for example 250x40) you will get 250 blocks and 250 coins as reward (but it will take not just 5 days but about 2 weeks at current difficulty - because smaller input - longer it staking before find blocks)

But in long term is no any difference between manual and automatic - after some time (depend of size of initial transaction) all transactions will be split by wallet to 25-50 coins inputs.

So you decide - to spend time at the beginning to immediately start earning the highest returns possible or leave everything to automatically wallet control and wait while wallet itself will rump up to maximum revenue.
And any intermediate options also possible: if it's too boring and long to break into small transactions (20-50 coins) can be divided into medium sized - say by 20x500, and leave wallet to finish rest (500==>250==>125==>62.5==>31.25).

Thank you. That's an interesting mechanic. However, it looks like say you split 10k into 20 coin blocks. You'll get the first reward, but since a stake causes the coins to split (into 10 coin blocks), you'll never get another reward since none of the blocks are sized at 20. Is this also correct?

Stakes less than 50 ORB don't get split.

[Mad_Max]

Thank you. That's an interesting mechanic. However, it looks like say you split 10k into 20 coin blocks. You'll get the first reward, but since a stake causes the coins to split (into 10 coin blocks), you'll never get another reward since none of the blocks are sized at 20. Is this also correct?

No wallet split automatically only inputs >= 50 ORBs. Wallet not split inputs < 50 ORBs. So minimum value after auto-split is 25 ORBs.
Wallet also can combine few small (< 20 ORBs) inputs to make one input > 20 ORBs(which needed to form correct PoS block) if one of such small inputs find block, but at current difficulty it will take many time to find block for small inputs (few weeks of staking).

[Mad_Max]

I collect some statistic and do some math about current (after Staking Bonanza end) ORB staking for myself.
But think it may be interesting for other users to, so i post it here.

I collect 5 days of statistic from my own wallet with ~20k ORBs staking 24/7.
It is not new wallet - it staking few month already so all processes stabilize. I do not any manual corrections and allow wallet to manage all automatically.
And at current difficulty level (it fluctuate in range from 0.0075 to 0.012 while i collect statistic) i got this numbers:

average size of inputs in my wallet: 37.6 ORBs (initially i split inputs manual but later allow wallet do all splitting automatically so now it is random set of sizes from 25 to 50 ORBs, with average = 37.6 ORBs)

average time to generate PoS blocks for single input: 11.5 days (5 days to mature enough to start staking + 6.5 days of staking with continuously growing weight)

So with fixed PoS reward (1 ORB per block now) current interest rate: 1/37.6/11.5*100 = ~0.23% per day
Or
0.23%*365 = 84% annual interest rate (by simple % formula)
(1.0023^365-1)*100 = 131% annual interest rate (by complex % formula - if you reinvest all rewards generated and keep them all in wallet staking too)

Not bad at all even after Bonanza end!

Note 1: It is for 24/7 staking wallet with 24/7 Internet connection to ORB network. For example if you run only half day - you got only about half of interest too. (it is a big difference to classic PoS coins where no material stimulus to run wallets 24/7)

Note 2: while PoS reward is fixed in ORBs in % of interest rate it not fixed and highly depends on PoS difficulty(but not linear). Numbers above correct for current diff range (0.0075 - 0.012). If diff goes up (more miners begin staking or same miners add additional coins to staking wallets) % interest rate goes down. And vice versa. So it is nice self-balancing process here.

[ghostlander]

Orbitcoin v1.4.2.2 released. Many GUI enhancements:

- better balance calculation and display;
- stake miner controls;
- wallet lock/unlock (also for staking only);
- wallet keys export/import;
- wallet inspect/repair.

RPC getinfo can tell how many coins have been PoW and PoS mined by your wallet.

[Mad_Max]

Try new 1.4.2.2.

New GUI tools nice and handy (especially for inexperienced users).

But something wrong with work of new "balance calculation and display".
After udate from 1.4.2 i got
- wrong balance info (more precisely: it jumping from correct value to incorrect after each block received and back to correct value after next block, after next block incorrect again and so on)
- wrong number of transactions counter (my main wallet now contain 9844 tx, but after update it gows down to 9637 tx. also i try my old wallet.dat from backup with 9316 tx, and after rescan and adding +528 "new" transactions after bacup point counter still shows only 9637 tx  )

So i roll back to 1.4.2

[ghostlander]

- wrong balance info (more precisely: it jumping from correct value to incorrect after each block received and back to correct value after next block, after next block incorrect again and so on)

It was wrong previously. It's correct now.

- wrong number of transactions counter (my main wallet now contain 9844 tx, but after update it gows down to 9637 tx. also i try my old wallet.dat from backup with 9316 tx, and after rescan and adding +528 "new" transactions after bacup point counter still shows only 9637 tx  )

The difference is orphans removed. My primary wallet has "lost" 3.6K transactions this way down to 55K.

[Mad_Max]

New wallet not count orphan transactions?

But it not correspond to amount of "missing" tx.
I dump my tx database to excel and count:
9487 normal (confirmed) transactions + 357 orphans
old wallet shows 9844 tx (its OK: 9487+357=9844)
New wallet show 9637 tx (9487 + ) while confirmed tx count is only 9487

About balance - actually them show same amont, but old "steady" and new jumping with each block (to wrong value and back to right after few sec or next block)

P.S.
Also seems new wallet modify database in way making it incompatible with previous ver. Uprage form 1.4.2 to 1.4.2.2 went OK, but after roll back to 1.4.2 (only replace executables) wallet not working (report some king of database error) and i restore whole database from backup too.
It is expected behavior?

[CrazyLoaf]

Dumb question. Is it possible to split a block into like x number of 50 coin blocks in one transaction? Or will I have to do it like 200 times by hand on a 10k coin block?

[almightyruler]

Dumb question. Is it possible to split a block into like x number of 50 coin blocks in one transaction? Or will I have to do it like 200 times by hand on a 10k coin block?

You can use the 'sendmany' RPC command. This is how I do it from the commandline:

orbitcoind sendmany "" '{"addr1":amount1,"addr2":amount2}'

Note: I think if you do this within the debug console of the QT client you omit the single quotes. Not 100% sure.

I've shown two addresses in this example, so just add more in the same format. I presume you can also send to the same address (do a small test first) but if you're wanting to split for staking purposes you probably want to send to separate addresses anyway.

[CrazyLoaf]

Dumb question. Is it possible to split a block into like x number of 50 coin blocks in one transaction? Or will I have to do it like 200 times by hand on a 10k coin block?

You can use the 'sendmany' RPC command. This is how I do it from the commandline:

orbitcoind sendmany "" '{"addr1":amount1,"addr2":amount2}'

Note: I think if you do this within the debug console of the QT client you omit the single quotes. Not 100% sure.

I've shown two addresses in this example, so just add more in the same format. I presume you can also send to the same address (do a small test first) but if you're wanting to split for staking purposes you probably want to send to separate addresses anyway.

How would you use this to break down say a 10k ORB block in a single go? Could it just be address:50 copy and pasted like 200 times?