[ANN] [2GIVE] / POS+POW HYBRID CHAIN W/5% STAKING AND BLOCK CAPTURE REWARDS

[cevirmen]

2-3 users have more than half of it, so it can't be bought. They're not selling.

Just 1 user have 76m

Yes that would Strength in Numbers Foundation and we're about to withdraw it out of the exchange which is going to create a lot of block rewards....

Make sure to set your wallets to "Compete for Block Rewards (POW) or turn on "setgenerate true" in the console or commandline

-dvd

If I didn't get it wrong, that 76m is yours and it's not going to be dumped, right?

[TheLittleDuke]

https://bittrex.com/Market/Index?MarketName=BTC-2GIVE

[TheLittleDuke]

2-3 users have more than half of it, so it can't be bought. They're not selling.

Just 1 user have 76m

Yes that would Strength in Numbers Foundation and we're about to withdraw it out of the exchange which is going to create a lot of block rewards....

Make sure to set your wallets to "Compete for Block Rewards (POW) or turn on "setgenerate true" in the console or commandline

-dvd

If I didn't get it wrong, that 76m is yours and it's not going to be dumped, right?

That is correct -- and in fact we're using it to bring other coins into our economy -- here are the offers currently tendered, though we may have to adjust them now that we are getting a valuation...

PMP 1:10 / https://bitcointalk.org/index.php?topic=673760.msg14718168#msg14718168

CAT 1:1 / https://bitcointalk.org/index.php?topic=1118569.msg14858278#msg14858278

WATER : 100:1 / https://bitcointalk.org/index.php?topic=526513.msg14800758#msg14800758

KARMA : 10000:1 / https://bitcointalk.org/index.php?topic=447657.msg14865990#msg14865990

[TheLittleDuke]

I just checked the Withdraw option on Bittrex and they have it set at 10% -- which i've alerted them should be 1% and whatever nominal fee they need to charge

-dvd

[penambang]

Withdrawal fee is really high? 

[ap1]

I test sent a few coins to Bittrex wallet... took a long time and not yet even close to get the 6 confirmation they required after like 1/2 hour...

POS blocks are about to start popping in about two days.

In the mean time I can increase the velocity of the synthetic transactions between the seed nodes which has been running every 30 minutes

In about a week we should be fully powered up

-dvd

Just to share the experience.

I just wonder as even my local wallet has 12 connections already but Bittrex seems stuck at 3/6 confirmations for around an hour now.
Does it sound right? I don't know the details about how blockchain confirmation works but I feel it is not normal.
Are all nodes supposed do the some work even not for reward?!


EDIT: Oh, just after I post this I see it got another 3 confirmations right away...

[sawa]

I don't want to sell my 2GIVEs, I'm gonna transfer it from bittrex to wallet's address.
How do you think, will the network deal with the transaction of several millions. Won't the transaction hang?

[TheLittleDuke]

I don't want to sell my 2GIVEs, I'm gonna transfer it from bittrex to wallet's address.
How do you think, will the network deal with the transaction of several millions. Won't the transaction hang?

It shouldn't -- considering we sent 1M coinblocks around without issue and there are over 45 connections on each of the seed nodes

I would wait before moving out of Bittrex atm -- their withdrawal rate appears to be set at 10% and should be much closer to 1%

just my .02

[TheLittleDuke]

Just to share the experience.

I just wonder as even my local wallet has 12 connections already but Bittrex seems stuck at 3/6 confirmations for around an hour now.
Does it sound right? I don't know the details about how blockchain confirmation works but I feel it is not normal.
Are all nodes supposed do the some work even not for reward?!


EDIT: Oh, just after I post this I see it got another 3 confirmations right away...

2GIVE is powered by transactions, not raw mining.

Your wallets won't waste any CPU if there is nothing to mine!   The chain rejects EMPTY blocks -- there has to be something of value and at least 1% TXFEE on that value to pay the POW miners.

In about two days the first transactions in the seed wallets will become eligible for staking -- we have that disabled on all but the donation wallet at the moment to see how successful our "airdrop" program was.

-dvd

[TheLittleDuke]

I've just offered a SWAP for Karma at a rate of 10,000 : 1

https://bitcointalk.org/index.php?topic=447657.msg14865990#msg14865990

-dvd

[sawa]

I don't want to sell my 2GIVEs, I'm gonna transfer it from bittrex to wallet's address.
How do you think, will the network deal with the transaction of several millions. Won't the transaction hang?

It shouldn't -- considering we sent 1M coinblocks around without issue and there are over 45 connections on each of the seed nodes

I would wait before moving out of Bittrex atm -- their withdrawal rate appears to be set at 10% and should be much closer to 1%

just my .02

Thank you for a warning about a fee. Can you tell me about a further PoS mining, how to withdraw better: the whole amount at once or in small amounts in a few days?

[TheLittleDuke]

I don't want to sell my 2GIVEs, I'm gonna transfer it from bittrex to wallet's address.
How do you think, will the network deal with the transaction of several millions. Won't the transaction hang?

It shouldn't -- considering we sent 1M coinblocks around without issue and there are over 45 connections on each of the seed nodes

I would wait before moving out of Bittrex atm -- their withdrawal rate appears to be set at 10% and should be much closer to 1%

just my .02

Thank you for a warning about a fee. Can you tell me about a further PoS mining, how to withdraw better: the whole amount at once or in small amounts in a few days?

We stakeholders have to watch out for each other....I'm setting up our own SMF message board at 2Give.Info and we'll offer a "Get Confirmed" option for stakeholders so that we can weed the out the trolls ;-)

POS kicks in for coins held for 30 days (max 90 days) -- and earns 5% per annum.

Once Bittrex gets their rate corrected, I'd suggest doing it in smaller blocks over time -- your block rewards created for the POW miners spreads out the 2GIVE love AND creates good future POS opportunities for the network

-dvd

[disco987]

I've just offered a SWAP for Karma at a rate of 10,000 : 1

https://bitcointalk.org/index.php?topic=447657.msg14865990#msg14865990

-dvd

The actual karma thread

https://bitcointalk.org/index.php?topic=579973.7920

[TheLittleDuke]

I've just offered a SWAP for Karma at a rate of 10,000 : 1

https://bitcointalk.org/index.php?topic=447657.msg14865990#msg14865990

-dvd

The actual karma thread

https://bitcointalk.org/index.php?topic=579973.7920

Thanks!  Reposted here:

https://bitcointalk.org/index.php?topic=579973.msg14866845#msg14866845

[TheLittleDuke]

Withdrawal fee is really high?  

Fixed a few minutes ago!!

And WOW someone moved 10M 2GIVE OFF the exchange to their own wallet

Someone was a lucky miner!!!

https://www.blockexperts.com/2give/height/1730

[xaker74]

all this is of course great, but my wallet is mining for 3 days and not a single block not found, information about the new block gives simultaneously with the task to solve

[penambang]

Great... withdrawing some of my 2Give from bittrex...

[TheLittleDuke]

all this is of course great, but my wallet is mining for 3 days and not a single block not found, information about the new block gives simultaneously with the task to solve

The wallet ONLY mines when there is something to work on -- the system is not a normal POW style chain -- there is no reward for mindless mining -- when transactions hit the network, the miners wake up and try to solve the block -- first to solve it (just like any other POW system) -- wins the block rewards -- whatever the 1% of TXFEEs are in it go to the miner.

Currently every half hour one of the Strength in Numbers Foundation "seed nodes" (GiveCoin* addresses) -- will fire off a 100K coin block between wallets -- this creates a 1,000 coin TXFEE block reward to the first miner that secures it.   This is actually one of the most fair forms of "air drop" to date!

ALSO right now, there is a lot of activity flowing to and from Bittrex -- every send in or out creates another opportunity.  For example, I've started pulling out all of SNF's +76M coins, 1M coins at a time back into our donation address

GiveCoin8hYRfrg5A5J4QHuiQ4KZWjYAJj

Which is creating 10K block rewards every time I do...

Once you have coins, if you hold onto them for a minimum of 30 days, you'll be able to generate interest -- 5% per annum through Proof of Stake (POS) blocks.

Please see: http://bit.ly/2GiveCoin for more details

-dvd

[TheLittleDuke]

This is hilarious -- they are showing a "negative" balance

(probably related to the orphan block issue we reported a couple of weeks ago)

https://www.blockexperts.com/2give/address/GivehmYnjGvqJPgeeTmtXmLea223i78v7k

Our development explorer (ABE) shows the actual amount:

http://xtc.inter.com:2751/address/GivehmYnjGvqJPgeeTmtXmLea223i78v7k

Sending in a support ticket now...

[penambang]

RC5-Dev on my Ubuntu