[ANN][SEED] SeedCoin | New Road Map

[Wheezy-]

around 15 hours ago, I saw my wallet was staking (green).
I received 0.00001 and a few hours later 0.00005 and then it stopped staking (grey) and says I have immature coins.
I have version 1.0.1.0 on windows
I don't have the last update.

If you had staked and your wallet is synced you are probably on the correct blockchain. You should still update to the latest wallet and make sure you still sync correctly.

It is normal to go from staking to immature coins. Once your coins mature again (~24 hrs) they will be ready to stake again.

the wallet I have for another coin is always green and staking 24h/24h, that's why I was asking

Yeah, my PINK wallet is green all the time too. As the wallets stake more and more, there should be a more consistent stream of coins becoming mature.

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[Altpocalypse]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

[wiser]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

[cryptzo]

It's the epic dumping at the end of the growth period that worries me. I think one way to mitigate that would be for the dev team to post some detailed plans for the coin about midway through the growth phase, especially if everything is working well on the technical side.

I don't plan to dump, but I will be taking some profits just to at least get my investment back. It would be very helpful to have some good compelling reasons clearly spelled out for holding beyond the growth period. If the dev team needs something written, that's my shtick--feel free to PM me

The network is stable now and I can't see any issues with the current codebase moving forward. I do need to do some tidying and bugfixing on the ui side of things, but those updates will be optional and clearly stated as such. So I'm going to take the time I have now to start working on a tentative road map and start working on future releases.

I want everyone here to understand that I want the community to be involved with the future of this coin. I know what direction I'm planning on taking the coin, but I'm not so headstrong that I'm not willing to take thoughts and ideas on board. I'm a huge advocate of decentralization, even from a development standpoint, and while I will continue to work and provide direction for the coin, I encourage everyone that would like to make a positive contribution to please do so.

I've really tried to create a situation where it's the strong hands that value this project that hold a majority of the coins. It's an ambitious experiment, and I do hope it plays out as well as I have imagined. But ultimately I accept that everyone expects me to be responsible for bringing value to the SeedCoins that they're holding, and I understand and respect that. You've invested time and money into my work, and even if I have only seen a small portion of it directly through the ICO - that was due to my own ambitious expectations and judgment. So it's on me to deliver and work hard to bring value to the coin for everyone. But I ask each of you to consider taking it upon yourselves to help bring value to the coin as well in whatever way you are best suited.

I will do everything I can on my own, but we will have the most success if we all work together and grow something special from SeedCoin. And so far, I couldn't be more proud or thankful for the community that has been sown here. I think together we can grow seed into something great and valuable.

Thank you everyone that has supported the thread and been answering questions while I've been getting some much needed rest. I feel awful about the issues that plagued us over the last few days and I am terribly sorry about the losses of time and money that have occurred over the last day. All I can say is that I understand your frustration, I'm doing the best I can, and thank you for your patience and support despite the growing pains we all just had to endure. I wont forget it.

Thank you, everyone. I hope everyone is ready for the rollercoaster ride that awaits us in just a few days. I have no idea what's going to happen, it's all a grand experiment, but it's sure to be interesting.

While it's all happening, I encourage everyone to remember that every difficulty that you will encounter, everyone else will be encounter as well. There's a lot of strategies one can use to maximize your portion of seedcoins compared to everyone else's, and I encourage you to do your research on how the staking process works and really take the time to think about how to maximize your chances of success. Staking in SeedCoin, from a practical standpoint, is no different from any other coin, and growth is ultimately just a very accelerated staking process.

If you have any questions that you'd like answered and kept private, please feel free to PM me in confidence. I wont share your thoughts with anyone else, and I will answer every question as honestly as I possibly can.

So with all that said, lets grow some seeds:D



tl;dr I will bring value to SeedCoin. I encourage anyone that wants to to help. Thank you everyone for everything. And you might want to consider reading this particular long block of text:)

[wiser]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

EDIT: It seems to me that no matter how much is staked, the reward is always 0.00001. How exactly does that work out?

[cryptzo]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

The network weight is more or less estimated based on the staking blocks that have been found. If I understand it properly, then what it's reporting is actually incorrect, as POS is competing directly with POW, and thus it takes more weight to stake a block right now that it would if POW had ended - but the network weight doesn't take that into account.

Mind, I haven't taken the time to confirm that in the code, but that is my understanding of how it all works. If someone knows better, please by all means correct me.

[wiser]

Well the percentage of blocks found by POS is close to 50% now, and NOW the mining net hashrate is beginning to approach the levels I assumed it would be from the get go. I think mining profitability is rapidly dwindling... It was fun while it lasted

[boxxa]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake.  

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

Stake weight is a combination of your coins you hold that are in a single block and then how long has passed. Blocks compete in POS for the highest stake weight for who signs it. If yours is above the network, you should get a reward. If you are newly staking, you would have a low stake weight vs the network as you need to wait your turn for your reward.

I am pretty sure that you would ideally want to create a single TX to yourself from an exchange so those coins all are in one block. This gives your coins the weight benefit so you have say 10 coins in one block instead of 1 coin in each block all with different weights->rewards.

[tx42]

One question. I couldn't seem to find an answer.

What happened to the seed that were offered for ICO and not bought.

Can those be provably burned, please?

[wiser]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

Stake weight is a combination of your coins you hold that are in a single block and then how long has passed. Blocks compete in POS for the highest stake weight for who signs it. If yours is above the network, you should get a reward. If you are newly staking, you would have a low stake weight vs the network as you need to wait your turn for your reward.

For the past hour or so my weight has been higher than the network. Also bigger amounts are going into the "stake" section and the 0.00001 rewards are getting more frequent. But they are always 0.00001. That's the part I don't understand--how no matter what amount of coin goes into the "stake" section, the reward is the same but I get more of them. It would just help to understand the formula behind it.

[tx42]

For the past hour or so my weight has been higher than the network. Also bigger amounts are going into the "stake" section and the 0.00001 rewards are getting more frequent. But they are always 0.00001. That's the part I don't understand--how no matter what amount of coin goes into the "stake" section, the reward is the same but I get more of them. It would just help to understand the formula behind it.

Did you mine and get even payouts?

[boxxa]

One question. I couldn't seem to find an answer.

What happened to the seed that were offered for ICO and not bought.

Can those be provably burned, please?

They were not all premined like some ICOs are where there is coins that people buy and need to be removed from the network. The ICO coins were mined in a single premine and then distributed.

[tx42]

One question. I couldn't seem to find an answer.

What happened to the seed that were offered for ICO and not bought.

Can those be provably burned, please?

They were not all premined like some ICOs are where there is coins that people buy and need to be removed from the network. The ICO coins were mined in a single premine and then distributed.

Thanks! Got it! In the main.h header file:

Code:

static const int64_t ICO = 67.86 * COIN;

And main.cpp:

Code:

int64_t GetProofOfWorkReward(int nHeight, int64_t nFees)
{
    int64_t nSubsidy = 0;
    
    if (nHeight <= 0)
        nSubsidy = 0;
    else
    if (nHeight <= 1)
        nSubsidy = ICO;

[wiser]

For the past hour or so my weight has been higher than the network. Also bigger amounts are going into the "stake" section and the 0.00001 rewards are getting more frequent. But they are always 0.00001. That's the part I don't understand--how no matter what amount of coin goes into the "stake" section, the reward is the same but I get more of them. It would just help to understand the formula behind it.

Did you mine and get even payouts?

Everything I have is mined. So I have many transactions at semi-regular intervals.

[cryptzo]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

EDIT: It seems to me that no matter how much is staked, the reward is always 0.00001. How exactly does that work out?

You're staking from blocks you've minted. The stake reward of 0.00001 is the minimum stake possible. If the portion of coins that were used to stake would have produced less than that, you'd stake 0.00001. Th'e current rate is 1% per year. So if the number of coins you're staking / 365 / 100 is less than 0.00001, you'll actually get 0.00001.  Generally you don't stake all your coins in a single block, but rather they get spread out over time. This behavior helps support the network.

[klopper]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

EDIT: It seems to me that no matter how much is staked, the reward is always 0.00001. How exactly does that work out?

You're staking from blocks you've minted. The stake reward of 0.00001 is the minimum stake possible. If the portion of coins that were used to stake would have produced less than that, you'd stake 0.00001. Th'e current rate is 1% per year. So if the number of coins you're staking / 365 / 100 is less than 0.00001, you'll actually get 0.00001.  Generally you don't stake all your coins in a single block, but rather they get spread out over time. This behavior helps support the network.

So many small transactions in to wallet would generate more pos blocks then on big transaction in to wallet?

[wiser]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

EDIT: It seems to me that no matter how much is staked, the reward is always 0.00001. How exactly does that work out?

You're staking from blocks you've minted. The stake reward of 0.00001 is the minimum stake possible. If the portion of coins that were used to stake would have produced less than that, you'd stake 0.00001. Th'e current rate is 1% per year. So if the number of coins you're staking / 365 / 100 is less than 0.00001, you'll actually get 0.00001.  Generally you don't stake all your coins in a single block, but rather they get spread out over time. This behavior helps support the network.

Thanks for the explanation. That makes more sense. I just couldn't go any lower LOL. I just had no idea what a bargain I was getting

[cryptzo]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake.  

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

Stake weight is a combination of your coins you hold that are in a single block and then how long has passed. Blocks compete in POS for the highest stake weight for who signs it. If yours is above the network, you should get a reward. If you are newly staking, you would have a low stake weight vs the network as you need to wait your turn for your reward.

For the past hour or so my weight has been higher than the network. Also bigger amounts are going into the "stake" section and the 0.00001 rewards are getting more frequent. But they are always 0.00001. That's the part I don't understand--how no matter what amount of coin goes into the "stake" section, the reward is the same but I get more of them. It would just help to understand the formula behind it.

Your're actually a big reason there's so much stake extraction on the network then. All of your coins contribute to your weight, and only the coins you actually stake with are actually getting removed from your weight. I'd recommend sending coins to yourself at some point (literally just send coins to your own address) so that they aren't all broken up like grains of sand in your wallet, because if they are they'll stake one at a time.

Edit: This is part of the educate yourself thing I was talking about before. The network depends on coins being broken down into smaller pieces, but if your coins are in too many pieces then you'll never be able to stake all your coins in a single day. Check coin control (enable it in settings > options > display tab) in the send tab to see how your coins are broken down in the wallet, and their current age.

[wiser]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

Stake weight is a combination of your coins you hold that are in a single block and then how long has passed. Blocks compete in POS for the highest stake weight for who signs it. If yours is above the network, you should get a reward. If you are newly staking, you would have a low stake weight vs the network as you need to wait your turn for your reward.

For the past hour or so my weight has been higher than the network. Also bigger amounts are going into the "stake" section and the 0.00001 rewards are getting more frequent. But they are always 0.00001. That's the part I don't understand--how no matter what amount of coin goes into the "stake" section, the reward is the same but I get more of them. It would just help to understand the formula behind it.

Your're actually a big reason there's so much stake extraction on the network then. All of your coins contribute to your weight, and only the coins you actually stake with are actually getting removed from your weight. I'd recommend sending coins to yourself at some point (literally just send coins to your own address) so that they aren't all broken up like grains of sand in your wallet, because if they are they'll stake one at a time.

What would be a good amount to send? I could do several transactions like that. I do like spreading the staking around, but maybe not like grains of sand--more like pebbles

[cryptzo]

So here's a question... why is my stake weight is far greater than the network weight?  Also, the wallet has displayed "Expected time to earn reward is 1 second" for the past several hours without receiving a stake. 

I'm curious what those numbers actually mean in general. Also, so far the only amount I've received in stake has been 0.00001. What determines the staking reward itself?

Stake weight is a combination of your coins you hold that are in a single block and then how long has passed. Blocks compete in POS for the highest stake weight for who signs it. If yours is above the network, you should get a reward. If you are newly staking, you would have a low stake weight vs the network as you need to wait your turn for your reward.

For the past hour or so my weight has been higher than the network. Also bigger amounts are going into the "stake" section and the 0.00001 rewards are getting more frequent. But they are always 0.00001. That's the part I don't understand--how no matter what amount of coin goes into the "stake" section, the reward is the same but I get more of them. It would just help to understand the formula behind it.

Your're actually a big reason there's so much stake extraction on the network then. All of your coins contribute to your weight, and only the coins you actually stake with are actually getting removed from your weight. I'd recommend sending coins to yourself at some point (literally just send coins to your own address) so that they aren't all broken up like grains of sand in your wallet, because if they are they'll stake one at a time.

What would be a good amount to send? I could do several transactions like that. I do like spreading the staking around, but maybe not like grains of sand--more like pebbles

I edited my post, but in case you don't see it right away:

The network depends on coins being broken down into smaller pieces, but if your coins are in too many pieces then you'll never be able to stake all your coins in a single day. Check coin control (enable it in settings > options > display tab) in the send tab to see how your coins are broken down in the wallet, and their current age.

As for how many coins to send, depends on how many you have. Whatever you do send will immediately lose all their weight right now, so you'll stop staking as much, so that will be an important consideration. I'd suggest half, but check coin control and see try and find a reasonable balance from there.