anon989
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Activity: 84
Merit: 10
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July 10, 2014, 03:48:08 AM |
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Sorry if this has been answered, but I can't seem to find the specifics.
I've never used a POS coin before, so I am unsure of a few things.
I have 570 cloak coins I purchased earlier today. I just moved them to my wallet.
I have it encrypted, but opened for Staking only.
Once the coins have "aged" to 6 hours, they automatically stake, correct?
Or do I need to do something extra to allocate them?
Once they are staked and aged 6 hours, where does the 6% come into play and how often?
Is it 6% of what I have staked? How often does this increase? I know the block time was 60 seconds for POW, is it the same for POS, and so you get 6% of your staked coins every 60 seconds??
Sorry If I am way off base.
Here's an example I posted: https://bitcointalk.org/index.php?topic=637704.msg7724325#msg7724325. Read it to get a sense of how PoS works. PoS block time is 60 seconds - that means the same as mining block time. Difficulty will adjust to make the time between found blocks be ~60 seconds. If there is a lot of wallets open and staking (kind of like PoW mining) the difficulty will go up. If there are few wallets open, difficulty will go down. Once your coins reach 6 hours old, they will be eligible to start staking and earning interest. Thanks, that is what I was looking for! |
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adoress
Full Member
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Activity: 227
Merit: 103
SINTEZ LLC
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July 10, 2014, 04:01:08 AM |
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I never thought pos is a good idea. A health market need quite day trade volume.
if anyone wait coin sakes, the price will not pump
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CRYPT by SINTEZ - Nextgen of WEB monetization - SINTEZ.IO |
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adoress
Full Member
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Activity: 227
Merit: 103
SINTEZ LLC
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July 10, 2014, 04:06:46 AM |
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now we are one of the big five altcoin on mp  shall we surpass xc, even drk  |
CRYPT by SINTEZ - Nextgen of WEB monetization - SINTEZ.IO |
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mrrgnome
Newbie
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Activity: 30
Merit: 0
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July 10, 2014, 04:10:17 AM |
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I never thought pos is a good idea. A health market need quite day trade volume.
if anyone wait coin sakes, the price will not pump
Coin staking reduces total circulating coin supply which greatly increases potential price movement due to low volume. The trick is creating a PoS system that has incentives enough to encourage staking. |
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xCryptoManiaX
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July 10, 2014, 04:45:21 AM |
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I never thought pos is a good idea. A health market need quite day trade volume.
if anyone wait coin sakes, the price will not pump
Coin staking reduces total circulating coin supply which greatly increases potential price movement due to low volume. The trick is creating a PoS system that has incentives enough to encourage staking. But actually, total circulating supply includes cloak coins in people's wallets due to being able to sell via cloak trade in the wallet. |
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raw1
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Activity: 98
Merit: 10
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July 10, 2014, 04:46:52 AM |
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I never thought pos is a good idea. A health market need quite day trade volume.
if anyone wait coin sakes, the price will not pump
i thought same as you before , but its not like that , pos is better than mining i think , coz it send coins to all holders , not like mining everyday they mine and dump in exchange and if there's no buy support it will keep fall down , pos is best way to make price stable and move only up , if coin deserve to go up ( cloak ) for sure deserve to go to .02 i hope many ppl notice this coin before its too late  |
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EuphoricSouls
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Activity: 1
Merit: 0
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July 10, 2014, 04:48:18 AM |
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So Does staking/minting currently work? For some reason it has not been working for me. I have downloaded the latest qt wallet from the cloakcoin website and have waited over 24 hours.
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raw1
Member
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Activity: 98
Merit: 10
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July 10, 2014, 04:51:05 AM |
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So Does staking/minting currently work? For some reason it has not been working for me. I have downloaded the latest qt wallet from the cloakcoin website and have waited over 24 hours.
you have to wait for next wallet release coz they will fix stake problem + PoSA |
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Coolstoryteller
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July 10, 2014, 05:10:41 AM |
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Hey everyone,
We've got a big marketing push in the works. If you wanna support one of our writers he's working on different articles for major publication. His Cloak address is C3m5SAtbTjStZg6qzu6ngNYPNi27JHqauk
Thanks!
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djds
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July 10, 2014, 05:19:03 AM |
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now we are one of the big five altcoin on mp shall we surpass xc, even drk +1 |
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darkproton
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July 10, 2014, 05:26:48 AM |
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Hey everyone,
We've got a big marketing push in the works. If you wanna support one of our writers he's working on different articles for major publication. His Cloak address is C3m5SAtbTjStZg6qzu6ngNYPNi27JHqauk
Thanks!
sent 333. will send more on finished works. |
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R4v37
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July 10, 2014, 05:28:32 AM |
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cloak seems likely to dash thru the roof... ah.. too late to invest, forgot to check ann. |
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madmanbts
Member
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Activity: 70
Merit: 10
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July 10, 2014, 05:30:32 AM |
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I want to buy a few btc worth of cloak, can someone explain what are the strenghts and features, and why do people say its a descentralized exchange? I just dont have the time to read all 300+ pages. Thanks
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tubesteak
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July 10, 2014, 05:33:01 AM |
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cloak seems likely to dash thru the roof... ah.. too late to invest, forgot to check ann. It's not to late. Cloak is going to 0.10000000 |
SLG: SPWZuB9HsZVQNiHCbLQyw32EdRdVtt87We
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Coolstoryteller
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July 10, 2014, 05:34:22 AM |
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Hey everyone,
We've got a big marketing push in the works. If you wanna support one of our writers he's working on different articles for major publication. His Cloak address is C3m5SAtbTjStZg6qzu6ngNYPNi27JHqauk
Thanks!
sent 333. will send more on finished works.  |
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heartastack
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July 10, 2014, 05:35:43 AM |
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I want to buy a few btc worth of cloak, can someone explain what are the strenghts and features, and why do people say its a descentralized exchange? I just dont have the time to read all 300+ pages. Thanks
Strength: Cloak Weakness: None |
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Bitcoin_CFO
Newbie
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Activity: 31
Merit: 0
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July 10, 2014, 05:47:26 AM |
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I want to buy a few btc worth of cloak, can someone explain what are the strenghts and features, and why do people say its a descentralized exchange? I just dont have the time to read all 300+ pages. Thanks
The OP has all the whitepapers/info you'll need on CloakSend//CloakTrade//OneMarket https://bitcointalk.org/index.php?topic=637704.msg7114657#msg7114657What kind of shit response is that? Thank you for a sub-half assed answer to someone curious about the coin |
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djslick
Legendary
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Activity: 980
Merit: 1000
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July 10, 2014, 05:52:42 AM |
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I want to buy a few btc worth of cloak, can someone explain what are the strenghts and features, and why do people say its a descentralized exchange? I just dont have the time to read all 300+ pages. Thanks
The OP has all the whitepapers/info you'll need on CloakSend//CloakTrade//OneMarket https://bitcointalk.org/index.php?topic=637704.msg7114657#msg7114657What kind of shit response is that? Thank you for a sub-half assed answer to someone curious about the coin step 1) don't read step 2) complain  |
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darkproton
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July 10, 2014, 05:56:12 AM |
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I want to buy a few btc worth of cloak, can someone explain what are the strenghts and features, and why do people say its a descentralized exchange? I just dont have the time to read all 300+ pages. Thanks
The OP has all the whitepapers/info you'll need on CloakSend//CloakTrade//OneMarket https://bitcointalk.org/index.php?topic=637704.msg7114657#msg7114657What kind of shit response is that? Thank you for a sub-half assed answer to someone curious about the coin If you were curious, read the first post. Don't flame a guy for pointing you in the right direction. You either read it from him, or that post. Don't be sub-half assed with your money. |
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