[ANN] SilkCoin | New Wallet | NOW on MintPal / Cryptsy | FULL POS

[Jacqul]

I have taken the liberty of proofreading and altering the grammar and spelling a little bit for one of the info sections in the wallet.
Minor things just to make it a bit easier to read.
There is also reference to stacking instead of staking. Capitalization is also made more consistent.
Please use or don't use as you please.

This is the original:

As you may already know, Silkcoin are generated via two different ways. One of them is mining with a computer or a machine generating Proof Of Work blocks, and the other one is staking : generating Proof Of Stake blocks with your coins.
Let me explain Proof Of Stake more in details..
Your coins have what we call coin-age they start gaining age if they stay still during 12 hours in your wallet, your stake weight is the cumulated coin age you have. Before those 12 hours, coins don't get old so you won't be able to hit a Stake Block.
Your coins always gain coin-age even if your wallet is closed. But to hit a Stake Block you need to have your wallet open.
To see how much time is needed to hit a stake block just hover the lightning icon in the wallet it will tell you the expected time. But beware, like POW blocks, POS blocks are a bit random so expected time may be lower or higher.
This is when your coin-age is important. The more cumulated coin-age you got, the more chances you have of hitting a stake block. Once you hit this block and gain interest, coins which have been used have their coin-age reset, are moved to stake and blocked for 350 blocks.
Interest is fixed at 2% per year, but since coin start gaining age 12 hours after with compound interest this percentage is much higher.
Some options available to handle day to day staking :
In settings->options you can set Reservebalance (it's the amount you don't want to stack)
In settings->options->display you can tick coin control, so you can control what coin you send (don't send old coins)
In settings you can unlock wallet for staking only if you encrypted it.

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This is the edit:


Silkcoins are generated via two different ways.
1. Mining: this is when your computer or machine generate "Proof of Work" (POW) blocks similar to Bitcoin.
2. Staking: this is when the coins in your wallet generate "Proof of Stake" (POS) blocks.

Let me explain "Proof Of Stake" in more detail:

Your coins have what we call coin-age.
They start gaining age if they stay in your wallet for 12 hours. Your stake weight is the accumulated age of the coins you have.
Before those 12 hours, coins don't get age so you won't be able to hit a Stake Block.
Your coins always gain coin-age even if your wallet is closed, but to hit a Stake Block you need to have your wallet open.
To see how much time is needed to hit a Stake Block just hover your cursor over the lightning icon in the wallet: it will tell you the expected time.
But beware, like POW blocks, the chance of hitting a POS block is a bit random so expected time may be lower or higher.

This is when your coin-age is important. The more accumulated coin-age you have, the higher the chance of hitting a Stake Block.
Once you hit this block and gain interest, coins that have been used have their coin-age reset: they are moved to "stake" and blocked (you can't use them) for 350 blocks.

Interest is fixed at 2% per year, but since coins start gaining age 12 hours after creation, with compound interest this percentage turns out to be much higher.

Some options available to handle day to day staking:

In settings->options you can set Reservebalance (it's the amount you don't want to stake)
In settings->options->display you can tick coin control, so you can control which coin you send (don't send old coins)
If you encrypted your wallet, you can unlock it in settings. There is an option to unlock only for the purpose of staking.

[1714611239]

1714611239

[1714611239]

1714611239

[stormia]

wow please stop spamming other coins' threads. where's the honor in that?

[BitcoinKiosk]

wow please stop spamming other coins' threads. where's the honor in that?

I'm pretty sure he is hinting at suggesting to the silkcoin devs that they should consider using honorcoin as an option for promoting the silkcoin as being anon. They can do this without taking resources away from pirority development. that is if this turns out to be worthwhile(honorcoin anon airdrop).

Silkcoins are generated via two different ways.
1. Mining: this is when your computer or machine generate "Proof of Work" (POW) blocks similar to Bitcoin.
2. Staking: this is when the coins in your wallet generate "Proof of Stake" (POS) blocks.

Let me explain "Proof Of Stake" in more detail:

Your coins have what we call coin-age.
They start gaining age if they stay in your wallet for 12 hours. Your stake weight is the accumulated age of the coins you have.
Before those 12 hours, coins don't get age so you won't be able to hit a Stake Block.
Your coins always gain coin-age even if your wallet is closed, but to hit a Stake Block you need to have your wallet open.
To see how much time is needed to hit a Stake Block just hover your cursor over the lightning icon in the wallet: it will tell you the expected time.
But beware, like POW blocks, the chance of hitting a POS block is a bit random so expected time may be lower or higher.

This is when your coin-age is important. The more accumulated coin-age you have, the higher the chance of hitting a Stake Block.
Once you hit this block and gain interest, coins that have been used have their coin-age reset: they are moved to "stake" and blocked (you can't use them) for 350 blocks.

Interest is fixed at 2% per year, but since coins start gaining age 12 hours after creation, with compound interest this percentage turns out to be much higher.

Some options available to handle day to day staking:

In settings->options you can set Reserve balance (it's the amount you don't want to stake)
In settings->options->display you can tick coin control, so you can control which coin you send (don't send old coins)
If you encrypted your wallet, you can unlock it in settings. There is an option to unlock only for the purpose of staking.

Nice contribution. Easier to read for me.

13 on mintpal its moving up fast

[Grifftech]

I just love the idea of the "Silcoin Marketplae" I just picture this bustling bazaar with cool awesome goods from all corners of the internet. Would really to see something like this integrated.

[nzminer]

wow please stop spamming other coins' threads. where's the honor in that?

I'm pretty sure he is hinting at suggesting to the silkcoin devs that they should consider using honorcoin as an option for promoting the silkcoin as being anon. They can do this without taking resources away from pirority development. that is if this turns out to be worthwhile(honorcoin anon airdrop).

Silkcoins are generated via two different ways.
1. Mining: this is when your computer or machine generate "Proof of Work" (POW) blocks similar to Bitcoin.
2. Staking: this is when the coins in your wallet generate "Proof of Stake" (POS) blocks.

Let me explain "Proof Of Stake" in more detail:

Your coins have what we call coin-age.
They start gaining age if they stay in your wallet for 12 hours. Your stake weight is the accumulated age of the coins you have.
Before those 12 hours, coins don't get age so you won't be able to hit a Stake Block.
Your coins always gain coin-age even if your wallet is closed, but to hit a Stake Block you need to have your wallet open.
To see how much time is needed to hit a Stake Block just hover your cursor over the lightning icon in the wallet: it will tell you the expected time.
But beware, like POW blocks, the chance of hitting a POS block is a bit random so expected time may be lower or higher.

This is when your coin-age is important. The more accumulated coin-age you have, the higher the chance of hitting a Stake Block.
Once you hit this block and gain interest, coins that have been used have their coin-age reset: they are moved to "stake" and blocked (you can't use them) for 350 blocks.

Interest is fixed at 2% per year, but since coins start gaining age 12 hours after creation, with compound interest this percentage turns out to be much higher.

Some options available to handle day to day staking:

In settings->options you can set Reserve balance (it's the amount you don't want to stake)
In settings->options->display you can tick coin control, so you can control which coin you send (don't send old coins)
If you encrypted your wallet, you can unlock it in settings. There is an option to unlock only for the purpose of staking.

Nice contribution. Easier to read for me.

13 on mintpal its moving up fast

Could be a very good option indeed, but what about Zerocoin?
How do the two compare?
From what the Devs have stated, they are working on implementing zerocoin for silkcoin very soon.
I think Blackcoin is doing the same thing.

I think anyone is very foolish holding onto darkcoin long term, its bubble is about to burst once the majority of coins have anonymity implemented. X11 is the only other thing that makes it special.

XC and Monero both do a batter job than darkcoin hands down.

[Wulfcastle]

 ⚠  ⚠   Wallet Update - HARD FORK - UPDATE MANDATORY FOR EVERYONE  ⚠  ⚠

Mac, Windows & Linux available NOW fully compatible & BEAUTIFUL

As you may all know we finally decided to reduce the block reward in the next POW phase to please the community. There was a lot of arguments for and against the last phase so to please everyone since both sides had very valid points we decided to keep the last phase BUT reduce the block reward to 2500. So there will be 2x less coins generated in the last phase.

Total expected coins at the end of last phase : ~45 million

EVERYONE MUST UPDATE BEFORE POW, else you may send transactions on the wrong chain and lose your coins.
We deleted all pools from the OP, when you updated your client post in the thread we will add you back to the original post and website.

So now let's see this new version, better than words :

We worked very hard to release this update so fast fully compatible on all OS, we will now have more free time to get you updates from the eco-system front !

A white paper is in the writing but the system we're building is so complex the white paper will be quite long.
Just a few word this time, no this is not a darknet more a social network with unique usernames stored in the blockchain and all kind of infos shared via p2p everything working with pub/priv keys.

We'll give more and more infos quite soon so even before the whitepaper you all start to understand the way this system functions, for the moment enjoy the new update and..

Spread the word : MANDATORY UPDATE BEFORE POW BLOCK 50 000 OR RISK LOSING COINS

[Quantum12]

Well done all 13th ! Getting so close!

keep voting , we will be 9th in no time!

VOTE FOR US .. !! Please!

[Quantum12]

[ocminer]

https://silk.suprnova.cc

has been updated to the latest wallet and is ready for the fork and the new mining phase.

Mine with https://silk.suprnova.cc as soon as PoW starts again !

[Wulfcastle]

https://silk.suprnova.cc

has been updated to the latest wallet and is ready for the fork and the new mining phase.

Mine with https://silk.suprnova.cc as soon as PoW starts again !

Great! The second PoW phase is fast approaching. Only a few days left before it starts.

[Wulfcastle]

Well done all 13th ! Getting so close!

keep voting , we will be 9th in no time!

VOTE FOR US .. !! Please!

Closing in on 9000 votes

[centurion76]

I downloaded your wallet yesterday from silk-coin.com v 1.0.9.0 (extremely well done btw.) I let the wallet run all night and it still hasn't synced; it usually only takes a couple hours with a new wallet. Any suggestions?

Also, I own an ebay/Amazon style goods market, https://earthazaar.com, where members can buy or sell (or auction) products for cryptos. Perhaps we can collaborate? If interested pm me.

[boioiong]

13th place,  #8479 vote, go SilkCoin, go!

[cryptodevil]

Any chance of fitting in a link to a countdown clock on the OP for when exactly the second POW stage begins?

[Quantum12]

I downloaded your wallet yesterday from silk-coin.com v 1.0.9.0 (extremely well done btw.) I let the wallet run all night and it still hasn't synced; it usually only takes a couple hours with a new wallet. Any suggestions?

Also, I own an ebay/Amazon style goods market, https://earthazaar.com, where members can buy or sell (or auction) products for cryptos. Perhaps we can collaborate? If interested pm me.

I know its an obvious question but... did you add

addnode=107.170.61.197
addnode=107.170.73.238

to the .conf?

Q

[Leesminer]

Any chance of fitting in a link to a countdown clock on the OP for when exactly the second POW stage begins?

+1 I was wondering that myself

[centurion76]

I downloaded your wallet yesterday from silk-coin.com v 1.0.9.0 (extremely well done btw.) I let the wallet run all night and it still hasn't synced; it usually only takes a couple hours with a new wallet. Any suggestions?

Also, I own an ebay/Amazon style goods market, https://earthazaar.com, where members can buy or sell (or auction) products for cryptos. Perhaps we can collaborate? If interested pm me.

I know its an obvious question but... did you add

addnode=107.170.61.197
addnode=107.170.73.238

to the .conf?

Q

Not so obvious at 6:00 on a Saturday morning
Thanks for the help, I'll try it out.

[Quantum12]

I downloaded your wallet yesterday from silk-coin.com v 1.0.9.0 (extremely well done btw.) I let the wallet run all night and it still hasn't synced; it usually only takes a couple hours with a new wallet. Any suggestions?

Also, I own an ebay/Amazon style goods market, https://earthazaar.com, where members can buy or sell (or auction) products for cryptos. Perhaps we can collaborate? If interested pm me.

I know its an obvious question but... did you add

addnode=107.170.61.197
addnode=107.170.73.238

to the .conf?

Q

Not so obvious at 6:00 on a Saturday morning
Thanks for the help, I'll try it out.

cool hope it works

[Wulfcastle]

One small step for a camel, one giant leap for SilkCoin

[bep42]

There's some sell orders on Kingcoiny right there > https://www.kingcoiny.com/index.php?page=trade&market=17