[ANN] [KEY] KeyCoin | Fair Launch | 10/24 Update: KeyTrader v2 - Windows + Mac

[3r197]

Keycoin = 20% POS interest!!!!!!!
Need I say more!!!
 
Oh wait.... you can always go back to those 1-4% POS coins anytime you want! They claim you'll score big on compound interest!!
Some of them even have a multipool shit system intact so you can continue to make a loss due to your electric bill!!

Keycoin is a no brainer!!

hey bro (or anyone else known with this)

can you pls inform me .. 20% POS means ..like for example: if i send 2000 coins to my wallet and unlock for staking only, they will produce (20%) arround 400 keycoins after one year?... .. or there is a faster scheme for staking? is it bigger amount you stake -> reward from pos comes faster??

i just want to know what is most profitable way to stake and most valuable for network on one example like 100 coins or 1000 coins or else..

tyvm in advance

Rudar

As far as I know (anyone correct me if I'm wrong), yes you'd get 400 at the end of the year and that's if you put all your stake reward into a unstakeable address -spendable only. However , if you keep those coins that you minted in the staking system it obviously keeps increasing the amount of staking weight you have but still at a 20% interest - so as to say it compounds upon itself. So you wouldn't have 2400 coins at the end of a complete years stake starting point, but rather more coins because you continued to stake the new coins you minted on top of the original 2000.

I'm no math wiz but I'm sure there is a formula that could calculate a true value based off original coins at a staking starting point and a projected total at a certain future date based off staking the new coins you mint.

[novirudarzg]

Keycoin = 20% POS interest!!!!!!!
Need I say more!!!
 
Oh wait.... you can always go back to those 1-4% POS coins anytime you want! They claim you'll score big on compound interest!!
Some of them even have a multipool shit system intact so you can continue to make a loss due to your electric bill!!

Keycoin is a no brainer!!

hey bro (or anyone else known with this)

can you pls inform me .. 20% POS means ..like for example: if i send 2000 coins to my wallet and unlock for staking only, they will produce (20%) arround 400 keycoins after one year?... .. or there is a faster scheme for staking? is it bigger amount you stake -> reward from pos comes faster??

i just want to know what is most profitable way to stake and most valuable for network on one example like 100 coins or 1000 coins or else..

tyvm in advance

Rudar

As far as I know (anyone correct me if I'm wrong), yes you'd get 400 at the end of the year and that's if you put all your stake reward into a unstakeable address -spendable only. However , if you keep those coins that you minted in the staking system it obviously keeps increasing the amount of staking weight you have but still at a 20% interest - so as to say it compounds upon itself. So you wouldn't have 2400 coins at the end of a complete years stake starting point, but rather more coins because you continued to stake the new coins you minted on top of the original 2000.

I'm no math wiz but I'm sure there is a formula that could calculate a true value based off original coins at a staking starting point and a projected total at a certain future date based off staking the new coins you mint.

thank you sir,  that helps a lot!

and yes !!! i would like that formula too  

[Petr1fied]

There's definitely an element of compound interest but it's hard to create a formula which will tell you how many coins you will get in 1 year because there are too many factors to take into account. At minimum it takes 8 hours before an input becomes eligible to stake but the time taken is also dependent on the number of coins in that input, on my staking wallet I have some unspent inputs that are 60 hours old and haven't staked yet.

Lets say you deposit 1000, after the first cycle the input for 1000 is spent and in return you'd get 2 new inputs of 500 (+ interest, +fees (if applicable)), then at the next cycle you stake each of these 2 inputs and end up with 4 inputs of 250 (+interest, +fees (if applicable)). This process continues so you end up getting ever more inputs of ever decreasing values, each of which require staking.

I personally thought this process of creating ever more transactions continued indefinitely and as such used to manually send all these tiny inputs as larger values every few days. However, I have since learned that the wallet keeps the number of inputs in check itself. If there are too many unspent inputs then it may take several smaller inputs of appropriate coin age and stake them simultaneously, creating 1 new input and bringing the unspent input count back down.

I only wish more people would stake. The more coins removed from Bittrex, the better for all.

[novirudarzg]

There's definitely an element of compound interest but it's hard to create a formula which will tell you how many coins you will get in 1 year because there are too many factors to take into account. At minimum it takes 8 hours before an input becomes eligible to stake but the time taken is also dependent on the number of coins in that input, on my staking wallet I have some unspent inputs that are 60 hours old and haven't staked yet.

Lets say you deposit 1000, after the first cycle the input for 1000 is spent and in return you'd get 2 new inputs of 500 (+ interest, +fees (if applicable)), then at the next cycle you stake each of these 2 inputs and end up with 4 inputs of 250 (+interest, +fees (if applicable)). This process continues so you end up getting ever more inputs of ever decreasing values, each of which require staking.

I personally thought this process of creating ever more transactions continued indefinitely and as such used to manually send all these tiny inputs as larger values every few days. However, I have since learned that the wallet keeps the number of inputs in check itself. If there are too many unspent inputs then it may take several smaller inputs of appropriate coin age and stake them simultaneously, creating 1 new input and bringing the unspent input count back down.

I only wish more people would stake. The more coins removed from Bittrex, the better for all.

thanks for the detailed explanation! exactly what I was looking for

i did my best to understand you so let me ask you:  ..so if i stake 1000key, pos will automatically divide it in 2 new inputs(500 + interest) for the next cycle and repeat it next time... like 4 new inputs of  250 key (+interest)... and that continues indefinitely.    SO..  you say that is better (faster staking cycle?/higher pos reward?) to merge those small inputs after few cycles in much bigger inputs? So bigger inputs is better than tiny inputs for staking? or I misunderstood you?

i'm all for staking .. so thanks in advance!

Rudar

[3r197]

There's definitely an element of compound interest but it's hard to create a formula which will tell you how many coins you will get in 1 year because there are too many factors to take into account. At minimum it takes 8 hours before an input becomes eligible to stake but the time taken is also dependent on the number of coins in that input, on my staking wallet I have some unspent inputs that are 60 hours old and haven't staked yet.

Lets say you deposit 1000, after the first cycle the input for 1000 is spent and in return you'd get 2 new inputs of 500 (+ interest, +fees (if applicable)), then at the next cycle you stake each of these 2 inputs and end up with 4 inputs of 250 (+interest, +fees (if applicable)). This process continues so you end up getting ever more inputs of ever decreasing values, each of which require staking.

I personally thought this process of creating ever more transactions continued indefinitely and as such used to manually send all these tiny inputs as larger values every few days. However, I have since learned that the wallet keeps the number of inputs in check itself. If there are too many unspent inputs then it may take several smaller inputs of appropriate coin age and stake them simultaneously, creating 1 new input and bringing the unspent input count back down.

I only wish more people would stake. The more coins removed from Bittrex, the better for all.

Thanks for the input. Yea I've getting about 1000 stake-mined transactions a day. All very small fractions of a full coin. I'd definitely like to see others take interest in the staking as well. I've almost got half the network weight. I get on average about 9.25 new coins a day. I sure do hope Bittrex keeps a tight lid on securing their day trader stashes. I'd hate to be a part of a coin that got hacked on an exchange.  And I guess that big bag holder of 180,000 has it in cold storage. If he jumped in he'd hold near 65-70 percent of the network weight.

[Petr1fied]

There's definitely an element of compound interest but it's hard to create a formula which will tell you how many coins you will get in 1 year because there are too many factors to take into account. At minimum it takes 8 hours before an input becomes eligible to stake but the time taken is also dependent on the number of coins in that input, on my staking wallet I have some unspent inputs that are 60 hours old and haven't staked yet.

Lets say you deposit 1000, after the first cycle the input for 1000 is spent and in return you'd get 2 new inputs of 500 (+ interest, +fees (if applicable)), then at the next cycle you stake each of these 2 inputs and end up with 4 inputs of 250 (+interest, +fees (if applicable)). This process continues so you end up getting ever more inputs of ever decreasing values, each of which require staking.

I personally thought this process of creating ever more transactions continued indefinitely and as such used to manually send all these tiny inputs as larger values every few days. However, I have since learned that the wallet keeps the number of inputs in check itself. If there are too many unspent inputs then it may take several smaller inputs of appropriate coin age and stake them simultaneously, creating 1 new input and bringing the unspent input count back down.

I only wish more people would stake. The more coins removed from Bittrex, the better for all.

thanks for the detailed explanation! exactly what I was looking for

i did my best to understand you so let me ask you:  ..so if i stake 1000key, pos will automatically divide it in 2 new inputs(500 + interest) for the next cycle and repeat it next time... like 4 new inputs of  250 key (+interest)... and that continues indefinitely.    SO..  you say that is better (faster staking cycle?/higher pos reward?) to merge those small inputs after few cycles in much bigger inputs? So bigger inputs is better than tiny inputs for staking? or I misunderstood you?

i'm all for staking .. so thanks in advance!

Rudar

Basically yes but it reaches a point where it starts automatically recombining several smaller transactions into one larger one. Essentially doing the reverse of the splitting behavior to make sure you never have too many unspent inputs at any one time.

The reward isn't any higher since it's dependent on the input value/coin age. The more often you stake the more likely you are to pick up fees in addition to interest.

[3r197]

There's definitely an element of compound interest but it's hard to create a formula which will tell you how many coins you will get in 1 year because there are too many factors to take into account. At minimum it takes 8 hours before an input becomes eligible to stake but the time taken is also dependent on the number of coins in that input, on my staking wallet I have some unspent inputs that are 60 hours old and haven't staked yet.

Lets say you deposit 1000, after the first cycle the input for 1000 is spent and in return you'd get 2 new inputs of 500 (+ interest, +fees (if applicable)), then at the next cycle you stake each of these 2 inputs and end up with 4 inputs of 250 (+interest, +fees (if applicable)). This process continues so you end up getting ever more inputs of ever decreasing values, each of which require staking.

I personally thought this process of creating ever more transactions continued indefinitely and as such used to manually send all these tiny inputs as larger values every few days. However, I have since learned that the wallet keeps the number of inputs in check itself. If there are too many unspent inputs then it may take several smaller inputs of appropriate coin age and stake them simultaneously, creating 1 new input and bringing the unspent input count back down.

I only wish more people would stake. The more coins removed from Bittrex, the better for all.

thanks for the detailed explanation! exactly what I was looking for

i did my best to understand you so let me ask you:  ..so if i stake 1000key, pos will automatically divide it in 2 new inputs(500 + interest) for the next cycle and repeat it next time... like 4 new inputs of  250 key (+interest)... and that continues indefinitely.    SO..  you say that is better (faster staking cycle?/higher pos reward?) to merge those small inputs after few cycles in much bigger inputs? So bigger inputs is better than tiny inputs for staking? or I misunderstood you?

i'm all for staking .. so thanks in advance!

Rudar

Basically yes but it reaches a point where it starts automatically recombining several smaller transactions into one larger one. Essentially doing the reverse of the splitting behavior to make sure you never have too many unspent inputs at any one time.

The reward isn't any higher since it's dependent on the input value/coin age. The more often you stake the more likely you are to pick up fees in addition to interest.

Yea you make me wonder about that. What are the hidden fees for a mined transaction. I know it would have to be miniscule. And I'd hope it goes to a dev team wallet. Heck I even brought that subject up on Blackcoin. Asked them if they could implement a donation fee percentage indicator for staking. The donated percentage would go to a dev team address to help fund them. Blackcoin said it was a very easy thing to do but the head man didn't like  the idea of having a donate indicator built into the wallet for some reason. Why not.  These wallets already have a pay transaction fee tab that I can bump up in price if I want to get my payment transaction processes to run faster.
Could be just as simple as copying that same program feature yet, make it "stake transaction fee" tab where it has a default setting of like .00001 Key per transaction for the process of confirming immature coins to 50 confirmations. What if I bumped up the fee to .000075. Dev's get the cut and my immature staked coins reach 50 confirmations faster, so I could spend or stake it faster than the average joe that never wants to help out the devs. It would be a win win situation.

Thoughts?
/ hitting the sack, night all!

[novirudarzg]

eh now you all me make wonder ..

so you guys say... if more people stake... network becomes faster and secure and we all get faster rewards.?

[novirudarzg]

and where could i find explanation about my wallet weight and network weight  .. is my weight some kind of percentage of whole network and it depends on number of coins i put on stake?
 if someone could point me to a page where i could read more about those 2 values , i'd be very thankful. cause i feel im harassing you too much with these questions. tyvm in advance

rudar

[3r197]

and where could i find explanation about my wallet weight and network weight  .. is my weight some kind of percentage of whole network and it depends on number of coins i put on stake?
 if someone could point me to a page where i could read more about those 2 values , i'd be very thankful. cause i feel im harassing you too much with these questions. tyvm in advance

rudar

Once you have your wallet encrypted. You can unlock your wallet "for staking only."  On the bottom right corner of the wallet window. You will see 4 indicators. One tells you if your wallet is locked or unlocked (but encrypted) the up arrow tells you if your coins are mature enough for staking and if so it turns a green color and tells you your weight out of the network weight and how soon you'll expect a stake reward. The other two have to do with wallet syncs.
As for your previous post I think Petri1fied or someone else should answer that one. Im pretty sure it helps make the system more secure and faster, but I don't know how it affects staking payout as a whole.

[novirudarzg]

and where could i find explanation about my wallet weight and network weight  .. is my weight some kind of percentage of whole network and it depends on number of coins i put on stake?
 if someone could point me to a page where i could read more about those 2 values , i'd be very thankful. cause i feel im harassing you too much with these questions. tyvm in advance

rudar

Once you have your wallet encrypted. You can unlock your wallet "for staking only."  On the bottom right corner of the wallet window. You will see 4 indicators. One tells you if your wallet is locked or unlocked (but encrypted) the up arrow tells you if your coins are mature enough for staking and if so it turns a green color and tells you your weight out of the network weight and how soon you'll expect a stake reward. The other two have to do with wallet syncs.
As for your previous post I think Petri1fied or someone else should answer that one. Im pretty sure it helps make the system more secure and faster, but I don't know how it affects staking payout as a whole.

Yes i agree with you. And thanks.

What i actualy want to know is: how does system calculate those two values( netweight and my weight) ?
Is there a formula or something else?

[Petr1fied]

It shouldn't make the network any faster, it should continue to average 1 block per minute and if it gets faster than that then the difficulty (and network weight) should increase to compensate. Having more people staking does however increase network security, it's not really a good thing having so few control block generation.

At +8 hours an input becomes eligible and you'll get a value for network weight, the size of this value is dependent on the amount of the input and coin age. The higher the value, the larger your weight number. In addition, as time goes by without receiving a reward, your weight grows. (Also any other eligible inputs add to your weight.)

Network weight / your weight = approximate time in minutes to next reward.

[novirudarzg]

It shouldn't make the network any faster, it should continue to average 1 block per minute and if it gets faster than that then the difficulty (and network weight) should increase to compensate. Having more people staking does however increase network security, it's not really a good thing having so few control block generation.

At +8 hours an input becomes eligible and you'll get a value for network weight, the size of this value is dependent on the amount of the input and coin age. The higher the value, the larger your weight number. In addition, as time goes by without receiving a reward, your weight grows. (Also any other eligible inputs add to your weight.)

Network weight / your weight = approximate time in minutes to next reward.

Oh thats great new info for me

Now i understand it much better..ty:-)

[pitbullfan]

Is keytrader out yet? I have the vm running but don see keytrader in the image.

Cheers,
Pit

[keycoin]

Is keytrader out yet? I have the vm running but don see keytrader in the image.

Cheers,
Pit

We're currently doing lots of internal testing and debugging for the next build of KeyTrader (which will be cross-platform). We're trying our hardest to break it so the release is stable, then we'll go ahead and get it packaged into the KeyOS ISO.

I've also been working with a few community members to tackle an issue with OSX wallet downloads, and we have narrowed things down quite a bit. If anyone else has an issue with their OSX QT wallet, please post here! It would be great to try out a solution with another user.

[infinitechaos]

Is keytrader out yet? I have the vm running but don see keytrader in the image.

Cheers,
Pit

We're currently doing lots of internal testing and debugging for the next build of KeyTrader (which will be cross-platform). We're trying our hardest to break it so the release is stable, then we'll go ahead and get it packaged into the KeyOS ISO.

I've also been working with a few community members to tackle an issue with OSX wallet downloads, and we have narrowed things down quite a bit. If anyone else has an issue with their OSX QT wallet, please post here! It would be great to try out a solution with another user.

I've been going around downloading a bunch of different coins' wallets for testing's sake and I'm finding that for me it's only the ones that are hosted on MEGA that have launch problems when downloaded through Safari.

[keycoin]

Is keytrader out yet? I have the vm running but don see keytrader in the image.

Cheers,
Pit

We're currently doing lots of internal testing and debugging for the next build of KeyTrader (which will be cross-platform). We're trying our hardest to break it so the release is stable, then we'll go ahead and get it packaged into the KeyOS ISO.

I've also been working with a few community members to tackle an issue with OSX wallet downloads, and we have narrowed things down quite a bit. If anyone else has an issue with their OSX QT wallet, please post here! It would be great to try out a solution with another user.

I've been going around downloading a bunch of different coins' wallets for testing's sake and I'm finding that for me it's only the ones that are hosted on MEGA that have launch problems when downloaded through Safari.

That's what I've found mostly, but you did have to take some additional steps to get it working after downloading through Chrome as well, correct?

[B4zz4]

Is keytrader out yet? I have the vm running but don see keytrader in the image.

Cheers,
Pit

We're currently doing lots of internal testing and debugging for the next build of KeyTrader (which will be cross-platform). We're trying our hardest to break it so the release is stable, then we'll go ahead and get it packaged into the KeyOS ISO.

I've also been working with a few community members to tackle an issue with OSX wallet downloads, and we have narrowed things down quite a bit. If anyone else has an issue with their OSX QT wallet, please post here! It would be great to try out a solution with another user.

I've been going around downloading a bunch of different coins' wallets for testing's sake and I'm finding that for me it's only the ones that are hosted on MEGA that have launch problems when downloaded through Safari.

That's what I've found mostly, but you did have to take some additional steps to get it working after downloading through Chrome as well, correct?

I'm running Mac 10.9.4.

It is quite common for Qt wallets to crash on 1st launch as they seek files not yet written but they usually work fine with subsequent starts. Same happened when I first started the wallet extracted from KeyCoin-Qt.zip but all seems to be in order now.

What troubles are being reported?

[chisefu]

Ok stakers, is it best to combine all your coins at once to a wallet and let them mature to stake, or does it really matter.  Is it best to leave the wallet open 24/7 for staking, or should you only try to stake when the weight is low.  I saw someone earlier say the difficulty for staking is based on the coin age, so you can't get away with that shit, but these are questions I often ponder.

[UNO_owner]

Ok stakers, is it best to combine all your coins at once to a wallet and let them mature to stake, or does it really matter.  Is it best to leave the wallet open 24/7 for staking, or should you only try to stake when the weight is low.  I saw someone earlier say the difficulty for staking is based on the coin age, so you can't get away with that shit, but these are questions I often ponder.

For network security, 24x7 staking is best.