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

[Kenta]

to be honest, I don't think that last fork went very well. It was supposed to make everything more stable, but I see the exact opposite happening; wallets on all my computers/nodes are constantly falling off and it doesn't help with a reboot, but a full chaindownload including 15-20 Syncd restarts every time. Conf or no Conf, really doesn't matter or so it seems.
Every wallet recompiled up to 1.0.2.0, seemed to help in the beginning, but then I was back to being forktrapped again.

I see that the block explorer follows, this makes me a bit suspicious.. am I being poisoned by some notoriously bad nodes?

How about you guys, do you have any/different problems today or is it only me?

this is what test-net is for.
all these so called 'developers' launching shitcoins without fully putting them through the wringer, then changing their minds as to how the coin should work...

 

why would anyone invest in anything that hadn't been fully tested? we have, indeed, all been duped, and there is probably more;
'oh, lets do it this way - no, this way' attitude from our gracious leader in the pipeline.

As a not-so-conservative investor, I'm willing to take a lot of shit in the hope that I will be the earlybird that catches the worm. My patience isn't limitless however, and I see other coins having the same features as this one and more. And then someone desperately trying to control the coin without the necessary support to make it a success. Mining BlackCatCoin now, OPEC will hopefully be released in a few hours today.

after my experiences with this, and previous altcoins; I am no longer mining anything other than Bitcoin - that one is already successful. 

That used to be my plan, to mine the altcoin just to get BTC for less hash. Then I started taking advantage of the increase by just holding a few days extra. And now I'm on the hook.. 

[Nite69]

Thank you! but but but, I don't want orphans hehe

Any idea when they are changing the interest from 100% to 1% again ?

1-2 weeks or next few days.

There seems to be a lot of opinions on should we get back to 1% or not. 100% is nice, but in theory (don't know if it really applies) every time the coin amount has doubled, the price has halved, so (in theory) owners would eventually not win the 100% profit. But I'm really not sure if this applies to cryptocurrencies.

And 100% interest would mean there is no limit on the coin amount, which is not good for the coin price.

I have a wild idea; it might be bad or good, but think about it: How about reducing the stake just like PoW is usually reduced. Ie this year 100%, next year 50%, after that 25, 12.5 etc.. Or maybe this month, next month.. or reduce week by week?

We would get the benefits of the hig stake but the coin supply would not be limitless (limitless coin supply = BAD).

[Kenta]

Thank you! but but but, I don't want orphans hehe

Any idea when they are changing the interest from 100% to 1% again ?

1-2 weeks or next few days.

There seems to be a lot of opinions on should we get back to 1% or not. 100% is nice, but in theory (don't know if it really applies) every time the coin amount has doubled, the price has halved, so (in theory) owners would eventually not win the 100% profit. But I'm really not sure if this applies to cryptocurrencies.

And 100% interest would mean there is no limit on the coin amount, which is not good for the coin price.

I have a wild idea; it might be bad or good, but think about it: How about reducing the stake just like PoW is usually reduced. Ie this year 100%, next year 50%, after that 25, 12.5 etc.. Or maybe this month, next month.. or reduce week by week?

We would get the benefits of the hig stake but the coin supply would not be limitless (limitless coin supply = BAD).

I think that sounds like an excellent idea! That would make it more beneficial to own the coin during the early days. Then later, it will be more established but still rare like gold.

[Mick2K]

Thank you! but but but, I don't want orphans hehe

Any idea when they are changing the interest from 100% to 1% again ?

1-2 weeks or next few days.

There seems to be a lot of opinions on should we get back to 1% or not. 100% is nice, but in theory (don't know if it really applies) every time the coin amount has doubled, the price has halved, so (in theory) owners would eventually not win the 100% profit. But I'm really not sure if this applies to cryptocurrencies.

And 100% interest would mean there is no limit on the coin amount, which is not good for the coin price.

I have a wild idea; it might be bad or good, but think about it: How about reducing the stake just like PoW is usually reduced. Ie this year 100%, next year 50%, after that 25, 12.5 etc.. Or maybe this month, next month.. or reduce week by week?

We would get the benefits of the hig stake but the coin supply would not be limitless (limitless coin supply = BAD).

I personally don't care about anonymity. I don't want to buy drugs or illegal porn shit with any coin.
But if MsCollec want to implement some anon features then it's okay. It' his/her decision.

But i think a higher stake would be nice. If this coin should be an long time investment maybe it is possible to lower the interest over time. I don't know.

Do whatever you think is right. I will hold my little amount of sync and buy more if i can.

That's what i said.

[raskul]

to be honest, I don't think that last fork went very well. It was supposed to make everything more stable, but I see the exact opposite happening; wallets on all my computers/nodes are constantly falling off and it doesn't help with a reboot, but a full chaindownload including 15-20 Syncd restarts every time. Conf or no Conf, really doesn't matter or so it seems.
Every wallet recompiled up to 1.0.2.0, seemed to help in the beginning, but then I was back to being forktrapped again.

I see that the block explorer follows, this makes me a bit suspicious.. am I being poisoned by some notoriously bad nodes?

How about you guys, do you have any/different problems today or is it only me?

this is what test-net is for.
all these so called 'developers' launching shitcoins without fully putting them through the wringer, then changing their minds as to how the coin should work...

 

why would anyone invest in anything that hadn't been fully tested? we have, indeed, all been duped, and there is probably more;
'oh, lets do it this way - no, this way' attitude from our gracious leader in the pipeline.

As a not-so-conservative investor, I'm willing to take a lot of shit in the hope that I will be the earlybird that catches the worm. My patience isn't limitless however, and I see other coins having the same features as this one and more. And then someone desperately trying to control the coin without the necessary support to make it a success. Mining BlackCatCoin now, OPEC will hopefully be released in a few hours today.

after my experiences with this, and previous altcoins; I am no longer mining anything other than Bitcoin - that one is already successful. 

That used to be my plan, to mine the altcoin just to get BTC for less hash. Then I started taking advantage of the increase by just holding a few days extra. And now I'm on the hook.. 

I have previously had a different attitude to it actually. I've mined many alts for hobby purposes and in that, have always done my best to support the coin and their communities.

Just, after this time around and one too many incompetent launches, one too many incompetent community leaders and yet one more coin with unprofessional coding in an untested coin... i'm sorry but i have finally realised it's not for me.

I've taken a hit on my investment in this and cashed out 1.75BTC last night.

the curve on mintpal before the fork; that was me and even if SYNC eventually gets up to 0.8 or 0.9, i won't regret taking the hit.
it's a lesson learned.
I now have enough cash in the bank to take a short holiday somewhere nice .

[deephouse]

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

[YAdaminer]

Thank you! but but but, I don't want orphans hehe

Any idea when they are changing the interest from 100% to 1% again ?

1-2 weeks or next few days.

There seems to be a lot of opinions on should we get back to 1% or not. 100% is nice, but in theory (don't know if it really applies) every time the coin amount has doubled, the price has halved, so (in theory) owners would eventually not win the 100% profit. But I'm really not sure if this applies to cryptocurrencies.

And 100% interest would mean there is no limit on the coin amount, which is not good for the coin price.

I have a wild idea; it might be bad or good, but think about it: How about reducing the stake just like PoW is usually reduced. Ie this year 100%, next year 50%, after that 25, 12.5 etc.. Or maybe this month, next month.. or reduce week by week?

We would get the benefits of the hig stake but the coin supply would not be limitless (limitless coin supply = BAD).

I think that sounds like an excellent idea! That would make it more beneficial to own the coin during the early days. Then later, it will be more established but still rare like gold.

I like this idea.

[Chronikka]

Thank you! but but but, I don't want orphans hehe

Any idea when they are changing the interest from 100% to 1% again ?

1-2 weeks or next few days.

There seems to be a lot of opinions on should we get back to 1% or not. 100% is nice, but in theory (don't know if it really applies) every time the coin amount has doubled, the price has halved, so (in theory) owners would eventually not win the 100% profit. But I'm really not sure if this applies to cryptocurrencies.

And 100% interest would mean there is no limit on the coin amount, which is not good for the coin price.

I have a wild idea; it might be bad or good, but think about it: How about reducing the stake just like PoW is usually reduced. Ie this year 100%, next year 50%, after that 25, 12.5 etc.. Or maybe this month, next month.. or reduce week by week?

We would get the benefits of the hig stake but the coin supply would not be limitless (limitless coin supply = BAD).

Isn't the supply capped by a value called MAX_MONEY?  So the percentage of stake (100%, 1%, etc) only changes how fast the coins are produced. Once the value MAX_MONEY is reached, new minting ceases regardless of what the interest rate is.

There is currently a hard cap of 10,000 coins:

Code:

static const int64_t MAX_MONEY = 10000 * COIN;

This value is found in main.h if anybody wants to look at the source code

https://github.com/MsCollec/sync/blob/master/src/main.h

[raskul]

Thank you! but but but, I don't want orphans hehe

Any idea when they are changing the interest from 100% to 1% again ?

1-2 weeks or next few days.

There seems to be a lot of opinions on should we get back to 1% or not. 100% is nice, but in theory (don't know if it really applies) every time the coin amount has doubled, the price has halved, so (in theory) owners would eventually not win the 100% profit. But I'm really not sure if this applies to cryptocurrencies.

And 100% interest would mean there is no limit on the coin amount, which is not good for the coin price.

I have a wild idea; it might be bad or good, but think about it: How about reducing the stake just like PoW is usually reduced. Ie this year 100%, next year 50%, after that 25, 12.5 etc.. Or maybe this month, next month.. or reduce week by week?

We would get the benefits of the hig stake but the coin supply would not be limitless (limitless coin supply = BAD).

Isn't the supply capped by a value called MAX_MONEY? I didn't look at the code for sync but isn't that how it works for other wallets? So the percentage of stake (100%, 1%, etc) only changes how fast the coins are produced. Once the value MAX_MONEY is reached, new minting ceases regardless of what the interest rate is.

they'll probably want to change MAX_MONEY as well 

[LTCagt]

to be honest, I don't think that last fork went very well. It was supposed to make everything more stable, but I see the exact opposite happening; wallets on all my computers/nodes are constantly falling off and it doesn't help with a reboot, but a full chaindownload including 15-20 Syncd restarts every time. Conf or no Conf, really doesn't matter or so it seems.
Every wallet recompiled up to 1.0.2.0, seemed to help in the beginning, but then I was back to being forktrapped again.

I see that the block explorer follows, this makes me a bit suspicious.. am I being poisoned by some notoriously bad nodes?

How about you guys, do you have any/different problems today or is it only me?

this is what test-net is for.
all these so called 'developers' launching shitcoins without fully putting them through the wringer, then changing their minds as to how the coin should work...

 

why would anyone invest in anything that hadn't been fully tested? we have, indeed, all been duped, and there is probably more;
'oh, lets do it this way - no, this way' attitude from our gracious leader in the pipeline.

raskul - youre not involved anymore as you said - so please go on Holiday - its boring

[Mick2K]

Thank you! but but but, I don't want orphans hehe

Any idea when they are changing the interest from 100% to 1% again ?

1-2 weeks or next few days.

There seems to be a lot of opinions on should we get back to 1% or not. 100% is nice, but in theory (don't know if it really applies) every time the coin amount has doubled, the price has halved, so (in theory) owners would eventually not win the 100% profit. But I'm really not sure if this applies to cryptocurrencies.

And 100% interest would mean there is no limit on the coin amount, which is not good for the coin price.

I have a wild idea; it might be bad or good, but think about it: How about reducing the stake just like PoW is usually reduced. Ie this year 100%, next year 50%, after that 25, 12.5 etc.. Or maybe this month, next month.. or reduce week by week?

We would get the benefits of the hig stake but the coin supply would not be limitless (limitless coin supply = BAD).

Isn't the supply capped by a value called MAX_MONEY? I didn't look at the code for sync but isn't that how it works for other wallets? So the percentage of stake (100%, 1%, etc) only changes how fast the coins are produced. Once the value MAX_MONEY is reached, new minting ceases regardless of what the interest rate is.

they'll probably want to change MAX_MONEY as well  

What are you still doing here? You sold your SYNC and now you stay here and annoy everybody with your oppinion. If you don't want that coin anymore it's fine but then be silent.

[raskul]

to be honest, I don't think that last fork went very well. It was supposed to make everything more stable, but I see the exact opposite happening; wallets on all my computers/nodes are constantly falling off and it doesn't help with a reboot, but a full chaindownload including 15-20 Syncd restarts every time. Conf or no Conf, really doesn't matter or so it seems.
Every wallet recompiled up to 1.0.2.0, seemed to help in the beginning, but then I was back to being forktrapped again.

I see that the block explorer follows, this makes me a bit suspicious.. am I being poisoned by some notoriously bad nodes?

How about you guys, do you have any/different problems today or is it only me?

this is what test-net is for.
all these so called 'developers' launching shitcoins without fully putting them through the wringer, then changing their minds as to how the coin should work...

 

why would anyone invest in anything that hadn't been fully tested? we have, indeed, all been duped, and there is probably more;
'oh, lets do it this way - no, this way' attitude from our gracious leader in the pipeline.

raskul - youre not involved anymore as you said - so please go on Holiday - its boring

i am very involved. this scam has cost me money, so holiday or not, i'm here to point out some realities. 

[LTCagt]

to be honest, I don't think that last fork went very well. It was supposed to make everything more stable, but I see the exact opposite happening; wallets on all my computers/nodes are constantly falling off and it doesn't help with a reboot, but a full chaindownload including 15-20 Syncd restarts every time. Conf or no Conf, really doesn't matter or so it seems.
Every wallet recompiled up to 1.0.2.0, seemed to help in the beginning, but then I was back to being forktrapped again.

I see that the block explorer follows, this makes me a bit suspicious.. am I being poisoned by some notoriously bad nodes?

How about you guys, do you have any/different problems today or is it only me?

no Problems here and on 5machines either - staking and syncing - i alway clean the registry after de3leting something - although cleaning conf-file shuoldnt have an effect on this - but it works

[Chronikka]

to be honest, I don't think that last fork went very well. It was supposed to make everything more stable, but I see the exact opposite happening; wallets on all my computers/nodes are constantly falling off and it doesn't help with a reboot, but a full chaindownload including 15-20 Syncd restarts every time. Conf or no Conf, really doesn't matter or so it seems.
Every wallet recompiled up to 1.0.2.0, seemed to help in the beginning, but then I was back to being forktrapped again.

I see that the block explorer follows, this makes me a bit suspicious.. am I being poisoned by some notoriously bad nodes?

How about you guys, do you have any/different problems today or is it only me?

Yes I have similar problems. Took me awhile to get the wallet synced and staking again after the fork. And your right conf or no conf, it makes no difference.

[LTCagt]

to be honest, I don't think that last fork went very well. It was supposed to make everything more stable, but I see the exact opposite happening; wallets on all my computers/nodes are constantly falling off and it doesn't help with a reboot, but a full chaindownload including 15-20 Syncd restarts every time. Conf or no Conf, really doesn't matter or so it seems.
Every wallet recompiled up to 1.0.2.0, seemed to help in the beginning, but then I was back to being forktrapped again.

I see that the block explorer follows, this makes me a bit suspicious.. am I being poisoned by some notoriously bad nodes?

How about you guys, do you have any/different problems today or is it only me?

this is what test-net is for.
all these so called 'developers' launching shitcoins without fully putting them through the wringer, then changing their minds as to how the coin should work...

 

why would anyone invest in anything that hadn't been fully tested? we have, indeed, all been duped, and there is probably more;
'oh, lets do it this way - no, this way' attitude from our gracious leader in the pipeline.

raskul - youre not involved anymore as you said - so please go on Holiday - its boring

i am very involved. this scam has cost me money, so holiday or not, i'm here to point out some realities. 

last answer - if this has costs you Money - then you are not as clever as you mentioned us - go on holdiday - think about - come back and make it better .... the next time

[LTCagt]

@ras: by the way if someone comes here and says: look @the Chart this movement is mine .... please look first @ the volume and think about it - the it is less obvious 

[Kenta]

to be honest, I don't think that last fork went very well. It was supposed to make everything more stable, but I see the exact opposite happening; wallets on all my computers/nodes are constantly falling off and it doesn't help with a reboot, but a full chaindownload including 15-20 Syncd restarts every time. Conf or no Conf, really doesn't matter or so it seems.
Every wallet recompiled up to 1.0.2.0, seemed to help in the beginning, but then I was back to being forktrapped again.

I see that the block explorer follows, this makes me a bit suspicious.. am I being poisoned by some notoriously bad nodes?

How about you guys, do you have any/different problems today or is it only me?

no Problems here and on 5machines either - staking and syncing - i alway clean the registry after de3leting something - although cleaning conf-file shuoldnt have an effect on this - but it works

Linux doesn't use that thing and Windows shouldn't be affected either, at least not when it comes to the blockchain.

I ended up using getpeerinfo from the machine I got up to where blockexplorer is, then I handpicked the updated peers and turned off 'listen' in the config. Like this:

Code:

listen=0
server=1
daemon=1
rpcport=24240
addnode=162.243.157.49
addnode=188.226.243.136
addnode=162.243.103.7
addnode=69.164.173.234:29374
addnode=93.86.88.215:22660

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  

[turner3d]

Code:

send version message: version 60017, blocks=10307, us=xxxx:24241, them=xxxx:49270, peer=xxx:49270
Added time data, samples 200, offset -1 (+0 minutes)
Added xxx:24241 from xxxxx: 2151 tried, 3672 new
Moving xxxx:24241 to tried
receive version message: version 60018, blocks=10066, us=xxxx, them=xxxx:24241, peer=xxxx:49270
getblocks 10067 to 00000000000000000000 limit 500

We don't have protocol version 60018. Who has compiled this?
But my wallet works just ok, and so seems to be the explorer.

The Windows wallet from the info post (syncfinal.zip, 24,377,856 bytes) broadcasts version 60018

Code:

send version message: version 60018, blocks=10386, us=68.52.70.207:24241, them=175.145.63.110:21487, peer=175.145.63.110:21487

BTW, my IP can be used as a node - 68.52.70.207 - port 24241 is forwarded and I've been consistently on the correct latest block since way before the fork

[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)

[Nite69]

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?

No. But since keeping a wallet online strenghtens the coin, you are rewarded for keeping it online as much as possible.

If not, then for how long and how frequently

The maximum stake is get with coins 3 days old, so that is some hint of good frequency to keep it online. Better, if you keep it online all time, but good enought if you put it online every 3 days until all your coins are staked.

Difference between Stake and Spendable

Stake is waiting to be spendable. You cannot spend stake, but obvisously you can spend spendable :-)

How I move coins from Stake to Spendable?

It will happen automatically, it just takes some time. If you want to keep minimum amount of coins spendable all time, you can set it on settings (you'll get a bit less stake)

What does 'you weight' & 'network weight' mean?

Actually, I'm not sure about that, but I have understood that your weight / network weight tell you how likely is that you get stake on next block

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

It's being talk about what the interest will be in the end.

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

Thanks in advance.

Good questions. You are wellcome!