[ANN][1000 SYNC] Proof of Stake now run by BLOCKCHAIN DEVELOPMENT COMPANY

[LTCagt]

Now that the wallet is working and staking. Can someone write a guide or update the OP about POS and how it works? Few questions that I can't seem to get a definite answer on. Sorry if this was answered earlier in the 350+ Pages.

Do we need to keep the wallet open all the time?
If not, then for how long and how frequently
Difference between Stake and Spendable
How I move coins from Stake to Spendable?
What does 'you weight' & 'network weight' mean?

Total coins through POW is 1000 and then with POS it is 100% per year, with a total limit of 10000 coins?

Few other FAQ's can be added to make existing & new Syncer's be aware of how POS works.

Thanks in advance.

Can someone please answer these question? Thanks

kindly  

1.) yes only a wallet that is not lockedand  that is connected to the network after it has matured  is able to stake
2.) Youre not getting all the coins that are in the wallet at the same time - so they have more or less an other priority - if staking begins the highest priority with the highest Age is halved (as example) - one Piece is staking one Piece is spendable and soon the stake that you received has get Minimum 50 confirmations - all is putting together and is spendable again

spendable means you can througout it in the world - buying something - therefor the staking ones are hold back - beacuse you cant do all at one time - staking and spending

the process behind this Thing is that the old "amount" is destroyed and rebuild as a new "one" with a new coinage - although you dont see this
3.)You can probably do this by shuttimg down your wallet - but the effect will be that you dont get your stake

right after staking and confirmation (look above) you will get your Money back BUT...

if you had to do a payment that is very improtant you can interupt the staking to get it all spendable - like written before
4.) weight' & 'network weight' is another word for Age of the coins - soon youre mining or staking you get new coins with a different weight (Age) they Need to get mature coins first - so they have a smaller weight

i think you can control that by putting them all together -> coincontrol

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[wasamata]

Excellent job nite and ms. Very impressed indeed. Thankyou 

[LTCagt]

nite is write

the questions was "Do we need to keep the wallet open all the time?" NO SURELY NOT - but if you want to stake soon youll have to

[Kenta]

i still had to restart the clients twice, but now it seems to work and I have enabled 'listen' again, in hopes that the bad nodes won't come back to haunt us  

The latest wallent ignores the bad nodes :-) It downloads blocks only from nodes which announces protocol version 60017 or greater.
But it wil push our blocks to them ;-) And then they will ban our nodes, thinking we are the bad guy.

That's why I'm a bit worried about that protocol 60018. But it won't hurt us, if it would, then it would be easy to cause havoc just by creating a node with big version number.

Actually that .conf file is essential only when you start your wallet first time. After that it will keep database about good nodes and will find them (unless you delete that file)

that's very clever set up, but I wasn't able to get the correct chain when listening and then I all of a sudden could download when configuring for not to listen. Off course I could have been more 'lucky' that last time, but then I was unlucky the 25 times before..     This is the Windows wallet, "1.0.1", was the changes implemented yet on that one?

[wasamata]

My vote goes for 100% POS decreasing inline with the bitcoin supply (except 2 years instead of 1):

2014/2015     100%
2016/17         50%
2018/19         33.33%
2020/21         12.50%
2022/23         11.11%
2024/25         10.00%
2026/27         4.17%
2028/ongoing  4.00% annual interest

can you do it?

[Mick2K]

Maybe we can make a poll. Last decision is still on the dev side but maybe it helps to see what others think.

[LTCagt]

i still had to restart the clients twice, but now it seems to work and I have enabled 'listen' again, in hopes that the bad nodes won't come back to haunt us  

The latest wallent ignores the bad nodes :-) It downloads blocks only from nodes which announces protocol version 60017 or greater.
But it wil push our blocks to them ;-) And then they will ban our nodes, thinking we are the bad guy.

That's why I'm a bit worried about that protocol 60018. But it won't hurt us, if it would, then it would be easy to cause havoc just by creating a node with big version number.

Actually that .conf file is essential only when you start your wallet first time. After that it will keep database about good nodes and will find them (unless you delete that file)

that's very clever set up, but I wasn't able to get the correct chain when listening and then I all of a sudden could download when configuring for not to listen. Off course I could have been more 'lucky' that last time, but then I was unlucky the 25 times before..     This is the Windows wallet, "1.0.1", was the changes implemented yet on that one?

it wont hurt us - BUT it assures that badnodes dont get overwhelming - good Thing i think

[Nite69]

i still had to restart the clients twice, but now it seems to work and I have enabled 'listen' again, in hopes that the bad nodes won't come back to haunt us  

The latest wallent ignores the bad nodes :-) It downloads blocks only from nodes which announces protocol version 60017 or greater.
But it wil push our blocks to them ;-) And then they will ban our nodes, thinking we are the bad guy.

That's why I'm a bit worried about that protocol 60018. But it won't hurt us, if it would, then it would be easy to cause havoc just by creating a node with big version number.

Actually that .conf file is essential only when you start your wallet first time. After that it will keep database about good nodes and will find them (unless you delete that file)

that's very clever set up, but I wasn't able to get the correct chain when listening and then I all of a sudden could download when configuring for not to listen. Off course I could have been more 'lucky' that last time, but then I was unlucky the 25 times before..     This is the Windows wallet, "1.0.1", was the changes implemented yet on that one?

No, it's 1.0.2 which ignores the old wallets. Did not want put it in effect on the first version when there practically was no new versions available.

[Moonbyte1984]

i hope they dont change it.if so i will sell my 3.6 sync and jump ship .1% is not worth it

I will be glad to buy from you, it's hard to get that much Sync now.  The initial interest was 1% I don't need any reason why anyone should be complaining about going back to 1%

+1
i agree, we must return stake to 1% ASAP

[Raggie]

Wow, a dump happened on mintpal. Buy'em up.

[raskul]

are we havin' fun yet? want some more? 

[Nite69]

Wow, a dump happened on mintpal. Buy'em up.

That means a chance to buy them cheap ;-)

0.1 BTC gap between buy and sell orders -> you can profit 0.1 BTC with every 1 sync buy-sell cycle.

[raskul]

Wow, a dump happened on mintpal. Buy'em up.

That means a chance to buy them cheap ;-)

0.1 BTC gap between buy and sell orders -> you can profit 0.1 BTC with every 1 sync buy-sell cycle.

because buy orders of a pittance of a satoshi are going to balance the dumps aren't they?
 



eeeeeh no.

[sovie]

Wow, a dump happened on mintpal. Buy'em up.

That means a chance to buy them cheap ;-)

0.1 BTC gap between buy and sell orders -> you can profit 0.1 BTC with every 1 sync buy-sell cycle.

because buy orders of a pittance of a satoshi are going to balance the dumps aren't they?
 



eeeeeh no.

i'll take sum if you're throwing away

[LTCagt]

another bottom turn around VERY GOOD - same procedure as everytime

it finally hits the bottom Support to test weak Hands - buying and if you can sl under it it shouldnot get under 0,24 - look @the volumefalling down till the spike - that Shows its not the main move
its still missing and will hit 0,41 again

the range from 01 to 03 june Shows that

[t-minus]

idk if its just me, but my sync wallet doesnt like to sync. I upgraded the wallet, and added the right conf file. I was synced up fine yesterday, woke up today and im 9 hours behind. doesnt appear to be moving either. I restarted the PC and wallet with nothing yet.

[LTCagt]

to whom it may concern - a friend of mine - is getting rich with this Kind of formations shown in the chart

[raskul]

idk if its just me, but my sync wallet doesnt like to sync. I upgraded the wallet, and added the right conf file. I was synced up fine yesterday, woke up today and im 9 hours behind. doesnt appear to be moving either. I restarted the PC and wallet with nothing yet.

what you mean? Sync don't Sync? 

[LTCagt]

TYPEP  RICE (BTC)      SYNC              BTC
SELL 0.28280000   0.00397328 0.00112364

WOW a whale LOL - sorry that can not be true - kidding joke

[raskul]

TYPEP  RICE (BTC)      SYNC              BTC
SELL 0.28280000   0.00397328 0.00112364

WOW a whale LOL - sorry that can not be true - kidding joke

more than i'd pay for it. that person has balls to make such an investment.