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

[Biomech]

@ Cor2

I'm sorry, I had failed to think it through on the Sync profit sharing. I don't have enough sync to qualify, and making my block(s) bigger gives me a faster shot at staking.
You are correct, it don't need to be a new address, it can always be combined to any address you control. I do it the way I did for convenience (again, I had failed to factor in the profit sharing).

However, I was not aware that the sync wallet would automatically combine blocks. I've seen no such behaviour in 1.03. Is this a new feature with the "beta" wallet? Or is my holding just too small to trigger it?

I collect several staking coins, and the unfortunate (though interesting) truth is that even though the underlying code is based on PPC and NVC, every last one of the bastards behaves differently. Sync is one of the smoothest, along with Zimstake, HyperStake and most of the time TEK. I'd consider my mini guide to be a good "generic" strategy for staking coins, but it does have to be tweaked for each type of coin. Thanks for stepping in and correcting the specifics

[AtlanticWaves]

Youngg,

Ok here is an idea that has been bouncing around my brain a bit.  I notice at least in the top 20 addresses on the rich list that there are several wallets that have not staked for anywhere from 24-59 days.  If i can assume correctly that these are exchange wallets then i wonder if the following idea would help the sync community.

Why not have a 24 hour trading holiday towards the end of the month (lets say the 28th).  On that day all the exchanges would halt trading for 24 hours, stake their wallets and donate the stake to the stability fund.

Besides the obvious benefit of getting more sync in the stability fund i think it would also dry up trading supply on the 27th as keen investers would be trying to get the stake for themselves.  Lower supply should help support price.

I have no idea if this is even possible as it would be an honour system with the exchanges.

Anyway just a thought, kick the idea around and see where it goes!

No need to name the holiday after me, really that would be too much, i just couldn't accept (wink wink)

The problem is you can not make people take a 24 hour break. A lot of people might freak out if it was halted for a day.

True but it might also get rid of all the people who easily freak out or are unable to read twitter / forum postings clearly notifying of the halt.  It's not like anyone is at a disadvantage as all trading would be halted.

Anyone with 3 SYNC at this point is pretty on the ball with their investing and keeping up I would expect.  80% of the coins are in the top 100 wallets and I bet those addresses won't freak out if properly informed.

A quick tally of the addresses in the top 100 with 24+ days of non staking yields 82.6 coins.  SO if they were to stake on the 28th of this month we could generate:

82.6 * 28/365 * 0.5 = 3.16821918 Sync for the stability fund.
(Note: I did not calculate anything beyond the simple 28 days, I expect there would be even more stake for the wallets that have not staked for more than 28 days)

Just thinking out loud....

[mikeyfinn]

Youngg,

Ok here is an idea that has been bouncing around my brain a bit.  I notice at least in the top 20 addresses on the rich list that there are several wallets that have not staked for anywhere from 24-59 days.  If i can assume correctly that these are exchange wallets then i wonder if the following idea would help the sync community.

Why not have a 24 hour trading holiday towards the end of the month (lets say the 28th).  On that day all the exchanges would halt trading for 24 hours, stake their wallets and donate the stake to the stability fund.

Besides the obvious benefit of getting more sync in the stability fund i think it would also dry up trading supply on the 27th as keen investers would be trying to get the stake for themselves.  Lower supply should help support price.

I have no idea if this is even possible as it would be an honour system with the exchanges.

Anyway just a thought, kick the idea around and see where it goes!

No need to name the holiday after me, really that would be too much, i just couldn't accept (wink wink)

The problem is you can not make people take a 24 hour break. A lot of people might freak out if it was halted for a day.

True but it might also get rid of all the people who easily freak out or are unable to read twitter / forum postings clearly notifying of the halt.  It's not like anyone is at a disadvantage as all trading would be halted.

Anyone with 3 SYNC at this point is pretty on the ball with their investing and keeping up I would expect.  80% of the coins are in the top 100 wallets and I bet those addresses won't freak out if properly informed.

A quick tally of the addresses in the top 100 with 24+ days of non staking yields 82.6 coins.  SO if they were to stake on the 28th of this month we could generate:

82.6 * 28/365 * 0.5 = 3.16821918 Sync for the stability fund.
(Note: I did not calculate anything beyond the simple 28 days, I expect there would be even more stake for the wallets that have not staked for more than 28 days)

Just thinking out loud....

Guys, really, I am not trying to be rude, here, but are you crazy? Stop trading for a day? You can't possibly not expect that to totally tank this. I cannot say how strongly I think this is NOT a good idea.

[AtlanticWaves]

Youngg,

Ok here is an idea that has been bouncing around my brain a bit.  I notice at least in the top 20 addresses on the rich list that there are several wallets that have not staked for anywhere from 24-59 days.  If i can assume correctly that these are exchange wallets then i wonder if the following idea would help the sync community.

Why not have a 24 hour trading holiday towards the end of the month (lets say the 28th).  On that day all the exchanges would halt trading for 24 hours, stake their wallets and donate the stake to the stability fund.

Besides the obvious benefit of getting more sync in the stability fund i think it would also dry up trading supply on the 27th as keen investers would be trying to get the stake for themselves.  Lower supply should help support price.

I have no idea if this is even possible as it would be an honour system with the exchanges.

Anyway just a thought, kick the idea around and see where it goes!

No need to name the holiday after me, really that would be too much, i just couldn't accept (wink wink)

The problem is you can not make people take a 24 hour break. A lot of people might freak out if it was halted for a day.

True but it might also get rid of all the people who easily freak out or are unable to read twitter / forum postings clearly notifying of the halt.  It's not like anyone is at a disadvantage as all trading would be halted.

Anyone with 3 SYNC at this point is pretty on the ball with their investing and keeping up I would expect.  80% of the coins are in the top 100 wallets and I bet those addresses won't freak out if properly informed.

A quick tally of the addresses in the top 100 with 24+ days of non staking yields 82.6 coins.  SO if they were to stake on the 28th of this month we could generate:

82.6 * 28/365 * 0.5 = 3.16821918 Sync for the stability fund.
(Note: I did not calculate anything beyond the simple 28 days, I expect there would be even more stake for the wallets that have not staked for more than 28 days)

Just thinking out loud....

Guys, really, I am not trying to be rude, here, but are you crazy? Stop trading for a day? You can't possibly not expect that to totally tank this. I cannot say how strongly I think this is NOT a good idea.

OK I will drop the discussion.

[Biomech]

Youngg,

Ok here is an idea that has been bouncing around my brain a bit.  I notice at least in the top 20 addresses on the rich list that there are several wallets that have not staked for anywhere from 24-59 days.  If i can assume correctly that these are exchange wallets then i wonder if the following idea would help the sync community.

Why not have a 24 hour trading holiday towards the end of the month (lets say the 28th).  On that day all the exchanges would halt trading for 24 hours, stake their wallets and donate the stake to the stability fund.

Besides the obvious benefit of getting more sync in the stability fund i think it would also dry up trading supply on the 27th as keen investers would be trying to get the stake for themselves.  Lower supply should help support price.

I have no idea if this is even possible as it would be an honour system with the exchanges.

Anyway just a thought, kick the idea around and see where it goes!

No need to name the holiday after me, really that would be too much, i just couldn't accept (wink wink)

The problem is you can not make people take a 24 hour break. A lot of people might freak out if it was halted for a day.

True but it might also get rid of all the people who easily freak out or are unable to read twitter / forum postings clearly notifying of the halt.  It's not like anyone is at a disadvantage as all trading would be halted.

Anyone with 3 SYNC at this point is pretty on the ball with their investing and keeping up I would expect.  80% of the coins are in the top 100 wallets and I bet those addresses won't freak out if properly informed.

A quick tally of the addresses in the top 100 with 24+ days of non staking yields 82.6 coins.  SO if they were to stake on the 28th of this month we could generate:

82.6 * 28/365 * 0.5 = 3.16821918 Sync for the stability fund.
(Note: I did not calculate anything beyond the simple 28 days, I expect there would be even more stake for the wallets that have not staked for more than 28 days)

Just thinking out loud....

Guys, really, I am not trying to be rude, here, but are you crazy? Stop trading for a day? You can't possibly not expect that to totally tank this. I cannot say how strongly I think this is NOT a good idea.

I agree with Micky here. Don't know how many of you study economics, but to anyone watching a currency, the first thing you look for is "bank holidays". It's a sure indicator that the currency is in trouble. Crypto is different on so many levels that it may not ACTUALLY apply, but it sends a very ugly signal. And perception is what drives price, even more than fundamentals. Markets will move 50% on a rumour. You DO NOT want to start such rumours inadvertantly.

[sovie]

Thank goodness that was shot down
no offence but you don't mess with something that aint broke.

[casacup]

Hi,

I'm renting an aws server to let my sync wallet stake.
Only problem? I can't find a way to let it connect to the network.
I've already disabled the firewall, added rules to the security group and such. I have no problem with other pos coin.

What should I do?

(and is the 24241 the right port?)

up

[youngg]

Thank goodness that was shot down
no offence but you don't mess with something that aint broke.

Yes but let's not discourage the flow of ideas, good or bad, I appreciate the effort to think outside the box. Others should do the same.

[youngg]

Hi,

I'm renting an aws server to let my sync wallet stake.
Only problem? I can't find a way to let it connect to the network.
I've already disabled the firewall, added rules to the security group and such. I have no problem with other pos coin.

What should I do?

(and is the 24241 the right port?)

up

Linux OS?

[casacup]

windows server

[youngg]

windows server

Are you using the most recent wallet?

http://syncfund.com/wallets.html

Even if you are, we recently fixed the 'Add Nodes' feature which wasn't working for some and uploaded fixed version yesterday.

So go ahead and close your current and install and run the one linked above.

[casacup]

windows server

Are you using the most recent wallet?

http://syncfund.com/wallets.html

Even if you are, we recently fixed the 'Add Nodes' feature which wasn't working for some and uploaded fixed version yesterday.

So go ahead and close your current and install and run the one linked above.

Yes is the most recent one.

I also tried to add node manually, it says that it has no connection.

As I stated other pos wallet (BC, Mintcoin) works. So I don't really know what the problem is...

Could you give me the tcp/udp port that I need to open?

[youngg]

windows server

Are you using the most recent wallet?

http://syncfund.com/wallets.html

Even if you are, we recently fixed the 'Add Nodes' feature which wasn't working for some and uploaded fixed version yesterday.

So go ahead and close your current and install and run the one linked above.

Yes is the most recent one.

I also tried to add node manually, it says that it has no connection.

As I stated other pos wallet (BC, Mintcoin) works. So I don't really know what the problem is...

Could you give me the tcp/udp port that I need to open?

Again, try downloading the version that is up there now and running. It was uploaded late yesterday, sounds like you have the unfixed version.

[casacup]

It doesn't work



{
"version" : "v1.1.0.0",
"protocolversion" : 60019,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 0,
"timeoffset" : 0,
"moneysupply" : 0.00000000,
"connections" : 1,
"proxy" : "",
"ip" : "0.0.0.0",
"difficulty" : {
"proof-of-work" : 0.00024414,
"proof-of-stake" : 0.00024414
},
"testnet" : false,
"keypoololdest" : 1408194293,
"keypoolsize" : 101,
"paytxfee" : 0.00000000,
"mininput" : 0.00000000,
"errors" : ""
}

[casacup]

It doesn't work



{
"version" : "v1.1.0.0",
"protocolversion" : 60019,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 0,
"timeoffset" : 0,
"moneysupply" : 0.00000000,
"connections" : 1,
"proxy" : "",
"ip" : "0.0.0.0",
"difficulty" : {
"proof-of-work" : 0.00024414,
"proof-of-stake" : 0.00024414
},
"testnet" : false,
"keypoololdest" : 1408194293,
"keypoolsize" : 101,
"paytxfee" : 0.00000000,
"mininput" : 0.00000000,
"errors" : ""
}

wait wait wait seems now is working. If that was really the matter sorry I didn't listen, I downloaded the wallet just yesterday and thought it was the right one

[Biomech]

Thank goodness that was shot down
no offence but you don't mess with something that aint broke.

Yes but let's not discourage the flow of ideas, good or bad, I appreciate the effort to think outside the box. Others should do the same.

Oh, absolutely! I spoke my mind, it was not in any way intended to stifle conversation or the flow of ideas. To my way of thinking, the only forbidden subject should be forbidding subjects.

Or as I once saw on a bumper sticker: "The worst thing about censorship is XXXXXXXXX!"

[Biomech]

It doesn't work



{
"version" : "v1.1.0.0",
"protocolversion" : 60019,
"walletversion" : 60000,
"balance" : 0.00000000,
"newmint" : 0.00000000,
"stake" : 0.00000000,
"blocks" : 0,
"timeoffset" : 0,
"moneysupply" : 0.00000000,
"connections" : 1,
"proxy" : "",
"ip" : "0.0.0.0",
"difficulty" : {
"proof-of-work" : 0.00024414,
"proof-of-stake" : 0.00024414
},
"testnet" : false,
"keypoololdest" : 1408194293,
"keypoolsize" : 101,
"paytxfee" : 0.00000000,
"mininput" : 0.00000000,
"errors" : ""
}

wait wait wait seems now is working. If that was really the matter sorry I didn't listen, I downloaded the wallet just yesterday and thought it was the right one

Shit happens, man. Hope it's working ok. I haven't used the 1.1 version yet, as I think I want to wait for the non beta release. But 1.03 has worked flawlessly under ubuntu 14.04.

[Cor2]

However, I was not aware that the sync wallet would automatically combine blocks. I've seen no such behaviour in 1.03. Is this a new feature with the "beta" wallet? Or is my holding just too small to trigger it?

I collect several staking coins, and the unfortunate (though interesting) truth is that even though the underlying code is based on PPC and NVC, every last one of the bastards behaves differently. Thanks for stepping in and correcting the specifics

No problem, just wanted to avoid nasty surprises.
Do you have ORB as well? As far as I know, the highest rewarding Staking coin.

In my wallet, I have seen it re-combine a bunch of inputs as soon as the smallest input reached 0.01 in size, but it will only gather up
all the inputs that were mature and staking, so the wallet is suddenly back to "no weight" and you get the reward for *all* stakes at once.
Usually this means that about half the wallet is re-combined, so the number of inputs suddenly halves and you find a young input that is a large chunk of your wallet, I have seen between 1/4 and 1/2 of my wallet balance. Of course that input will stake soon after the 6 hours maturing, so a little later you don't see that the wallet has re-combined unless you check the nr of inputs several times a day.

Edit: I hear you about the differences - initially I also thought that I needed to split SYNC, as I am used to that with ORB
where each 20+ ORB input creates a fixed reward of 1 ORB, so you gain up to 5% every time it stakes, typically after a fortnight (2 weeks).
So there the trick is to split and re-combine into 20 ORB blocks, as a larger block will not stake that much faster and maturing is slow (5 days) so you want as many 20 ORB chunks as possible. SYNC is completely different in offering a percentage, based on size and age so no manipulation of coins is necessary (luckily).

[EcoChavCrypto]

Boom!!! finally got my wallet working.    syncing now and will be staking soon.  Is the 50% reward compounded daily?  When does it knock down to 25%?

[EcoChavCrypto]

Sync just does not want me to close down my programs.