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laredo7mm
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November 11, 2014, 04:16:37 PM |
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A lot of talk here about mining and staking; I thought it was mentioned somewhere that staked or mined coins will not count, only tokens that have been purchased can be exchanged for shares. Can someone from the blocknet team clarify this. Thanks.
Yes, this needs to be clarified. I understood that the tokens we get from staking are just as valid as those purchased in the ITO, and the devs would destroy tokens so that the overall number does not increase. I understood it the same way as you did. The tokens that were staked during the ITO were valid, and the equivalent number of staked tokens would be burned by Dev as to not increase the number of tokens available during the ITO. |
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BTCMILLIONAIRE
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November 11, 2014, 04:19:09 PM |
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Well those sells on Poloniex were no fun to watch.... Lets see if the market can recover  I though the double post Mchammer threw down was elegant lol. The price going down allows other players to get in. For each coin sold there is a buyer. We are all waiting for some news. I believe once there is development news price will skyrocket I didn't buy much at ITO price ....I bought a bunch later at cheaper price than ito  |
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BTCMILLIONAIRE
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November 11, 2014, 04:23:27 PM |
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A lot of talk here about mining and staking; I thought it was mentioned somewhere that staked or mined coins will not count, only tokens that have been purchased can be exchanged for shares. Can someone from the blocknet team clarify this. Thanks.
Yes, this needs to be clarified. I understood that the tokens we get from staking are just as valid as those purchased in the ITO, and the devs would destroy tokens so that the overall number does not increase. If thats the case then whats the point of staking ..........someone NEEDS to clear this up asap  |
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mxxxxxx
Legendary
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Activity: 2310
Merit: 1000
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November 11, 2014, 04:25:23 PM |
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A lot of talk here about mining and staking; I thought it was mentioned somewhere that staked or mined coins will not count, only tokens that have been purchased can be exchanged for shares. Can someone from the blocknet team clarify this. Thanks.
Yes, this needs to be clarified. I understood that the tokens we get from staking are just as valid as those purchased in the ITO, and the devs would destroy tokens so that the overall number does not increase. If thats the case then whats the point of staking ..........someone NEEDS to clear this up asap Thanks mxxxxxx for your reply, but I don't think it answers my question. I understand that eventually all our BLOCK tokens will be converted to something more useful in the NHZ market and that after that time there is no point in keeping them.
But the question is how many BLOCK tokens can we convert at that time. As an example, my wallet has 24 BLOCKs I bought, and 0.02 obtained through staking. So how many of these will qualify for conversion to the NHZ market, 24.00 or 24.02?
All of them, as far as I know. |
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devachelekar
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November 11, 2014, 04:26:20 PM |
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A lot of talk here about mining and staking; I thought it was mentioned somewhere that staked or mined coins will not count, only tokens that have been purchased can be exchanged for shares. Can someone from the blocknet team clarify this. Thanks.
Yes, this needs to be clarified. I understood that the tokens we get from staking are just as valid as those purchased in the ITO, and the devs would destroy tokens so that the overall number does not increase. I understood it the same way as you did. The tokens that were staked during the ITO were valid, and the equivalent number of staked tokens would be burned by Dev as to not increase the number of tokens available during the ITO. Let's clarify a little bit... 1. The total number blocks that we have purchased in ITO or traded will not change or change? 2. Is it right to stake our blocks by keeping our wallets open? as there is ambiguity regarding staked interest would be legitimate to earn revenue from network. 3. As quoted in earlier posts, is it like swap process to convert into NHZ asset? Newbies need to know about this. 4. And the exact number of BLOCKS? As the ITO was hosted on multiply exchanges.... |
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RoHoss
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November 11, 2014, 04:28:37 PM |
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I just noticed something weird while staking with wallet. Apparently I ''mined a block '' however in the transactions tab it says ''Generated but not accepted mined''
Is it possible to have orphan blocks in POS?
PS. I have been staking normally the past week, just noticed the instance a few mins ago.
Yes you get orphaned blocks in PoS. It's an analogous situation to PoW: part of the network accepts one version of the chain, and your newly mined (and un-matured) block is on another version. Naturally, the network syncs up and your block is left orphaned. What can I do against orphaned blocks? |
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laredo7mm
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November 11, 2014, 04:30:52 PM |
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I just noticed something weird while staking with wallet. Apparently I ''mined a block '' however in the transactions tab it says ''Generated but not accepted mined''
Is it possible to have orphan blocks in POS?
PS. I have been staking normally the past week, just noticed the instance a few mins ago.
Yes you get orphaned blocks in PoS. It's an analogous situation to PoW: part of the network accepts one version of the chain, and your newly mined (and un-matured) block is on another version. Naturally, the network syncs up and your block is left orphaned. What can I do against orphaned blocks? Nothing. They always happen. |
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laredo7mm
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November 11, 2014, 04:34:06 PM |
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A lot of talk here about mining and staking; I thought it was mentioned somewhere that staked or mined coins will not count, only tokens that have been purchased can be exchanged for shares. Can someone from the blocknet team clarify this. Thanks.
Yes, this needs to be clarified. I understood that the tokens we get from staking are just as valid as those purchased in the ITO, and the devs would destroy tokens so that the overall number does not increase. If thats the case then whats the point of staking ..........someone NEEDS to clear this up asap The only staked coins that were destroyed were ones during the ITO. BUT, it was just the total number of staked coins that were burned. They didn't come out of individual people's wallets. Dev burned an equivalent amount of coins so that the number of staked coins DURING THE ITO was offset. ANY coins staked AFTER the ITO was finished are VALID. IMO. |
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synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
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November 11, 2014, 04:37:50 PM |
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A lot of talk here about mining and staking; I thought it was mentioned somewhere that staked or mined coins will not count, only tokens that have been purchased can be exchanged for shares. Can someone from the blocknet team clarify this. Thanks.
Yes, this needs to be clarified. I understood that the tokens we get from staking are just as valid as those purchased in the ITO, and the devs would destroy tokens so that the overall number does not increase. If thats the case then whats the point of staking ..........someone NEEDS to clear this up asap The only staked coins that were destroyed were ones during the ITO. BUT, it was just the total number of staked coins that were burned. They didn't come out of individual people's wallets. Dev burned an equivalent amount of coins so that the number of staked coins DURING THE ITO was offset. ANY coins staked AFTER the ITO was finished are VALID. IMO. Yes this is correct as far as I'm aware. |
Co-Founder, the Blocknet
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BTCMILLIONAIRE
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November 11, 2014, 04:43:36 PM |
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3. As quoted in earlier posts, is it like swap process to convert into NHZ asset? Newbies need to know about this.
Great question....I would like an answer to this one myself.....  |
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Stinky_Pete
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November 11, 2014, 05:06:45 PM |
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More tokens for my stash |
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Booth
Newbie
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Activity: 57
Merit: 0
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November 11, 2014, 05:09:34 PM |
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more like 0.00016841 |
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G-Bert
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November 11, 2014, 05:12:45 PM |
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McHammer, you're a weirdo. Why are you here? p.s, I got orders much lower. hope it keeps going down. |
XChat XJkVnYD4N4oSjNStgbAUD6UyWuBTWuMRgv
public key fuYPYmK4Sj57PkU2NKg1gKW91euMKkstQPeeexUcxnb8
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g0re79
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November 11, 2014, 05:13:15 PM |
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more like 0.00016841 I had a temption to draw "Don´t invest in IPO, EVER!" on my wall several times, now I am going to do it. |
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WhiteNotWright
Full Member
Offline
Activity: 196
Merit: 100
Fibre Knight
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November 11, 2014, 05:20:48 PM |
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more like 0.00016841 I had a temption to draw "Don´t invest in IPO, EVER!" on my wall several times, now I am going to do it. Nice time to buy, unfortunately we need to keep waiting for the weak hand dumps, but such is trading :=) |
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synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
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November 11, 2014, 05:21:36 PM |
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3. As quoted in earlier posts, is it like swap process to convert into NHZ asset? Newbies need to know about this.
Great question....I would like an answer to this one myself..... The specifics haven't been decided yet. We'll let you know closer to the time. (No rush really.) |
Co-Founder, the Blocknet
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ndrog
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November 11, 2014, 05:32:57 PM |
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There is a sell wall in Polo of 7.62329923 BTC @ 0.00025000. Is that from the original ITO  |
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synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
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November 11, 2014, 05:34:42 PM |
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There is a sell wall in Polo of 7.62329923 BTC @ 0.00025000. Is that from the original ITO No. Of course not. |
Co-Founder, the Blocknet
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ndrog
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November 11, 2014, 05:37:31 PM |
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I still don't understand why people are stupid enough to sell for less. I can excuse the sell wall @ 0.00025 BTC - its the group who got their block for 10% discount and want a quick fix. But selling for less of original price  |
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atcsecure
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November 11, 2014, 05:50:25 PM |
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I still don't understand why people are stupid enough to sell for less. I can excuse the sell wall @ 0.00025 BTC - its the group who got their block for 10% discount and want a quick fix. But selling for less of original price Yes why take the loss this early in the game? Regardless, before the end of this month we will have a functional p2p network for blocknet, and later today an updated Blocknet Wallet Dan |
Join the revolution - XC - Decentralized Trustless Multi-Node Private Transactions
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