[ANN] BitBean | Innovative PoS | Scalability | No IPO | No premine

[amesterdamer]

I have some questions about the PoS:

If a user has 1.000.000 BitB staking, after the 6 hours for maturing how many BitB will he gain? since it's not a % and it's based on the block how can the user know what to expect??

Another question: Should the user have 1 address with 1 Million BitB or 10 addresses with 100.000 bitB? Is there an diference?

Well, they should solve a block when their network stake is high enough after six hours, and that block will contain 1000 coins. In the case of Bitbean, it may increase block frequency if you split the 1 million coins into 10, 100k coin addresses.

so in this case having 10 addresses with 100K it's worse than one with1M ?

Where can I check the stake weight for BitB?

[tm2013]

I have some questions about the PoS:

If a user has 1.000.000 BitB staking, after the 6 hours for maturing how many BitB will he gain? since it's not a % and it's based on the block how can the user know what to expect??

Another question: Should the user have 1 address with 1 Million BitB or 10 addresses with 100.000 bitB? Is there an diference?

Well, they should solve a block when their network stake is high enough after six hours, and that block will contain 1000 coins. In the case of Bitbean, it may increase block frequency if you split the 1 million coins into 10, 100k coin addresses.

so in this case having 10 addresses with 100K it's worse than one with1M ?

Where can I check the stake weight for BitB?

I was saying as far as I know there is a chance of finding more blocks with 10 addresses, each holding 100k coins. The 1 million coin address would find the block sooner, but you would only receive 1 block. The 10 addresses would find the blocks later, but they would each find their own 1000 coin block. So in that model it is more efficient and profitable to use multiple addresses.

As for checking stake weight, most wallets will give you the stake weight if you hover your mouse over the staking icon in the bottom right of the wallet. There is more than likely a debug console command for checking stake weight as well but I haven't looked yet to see what that command was for bitbean.

[?!bennscammed!?]

I have some questions about the PoS:

If a user has 1.000.000 BitB staking, after the 6 hours for maturing how many BitB will he gain? since it's not a % and it's based on the block how can the user know what to expect??

Another question: Should the user have 1 address with 1 Million BitB or 10 addresses with 100.000 bitB? Is there an diference?

Well, they should solve a block when their network stake is high enough after six hours, and that block will contain 1000 coins. In the case of Bitbean, it may increase block frequency if you split the 1 million coins into 10, 100k coin addresses.

so in this case having 10 addresses with 100K it's worse than one with1M ?

Where can I check the stake weight for BitB?

I was saying as far as I know there is a chance of finding more blocks with 10 addresses, each holding 100k coins. The 1 million coin address would find the block sooner, but you would only receive 1 block. The 10 addresses would find the blocks later, but they would each find their own 1000 coin block. So in that model it is more efficient and profitable to use multiple addresses.

As for checking stake weight, most wallets will give you the stake weight if you hover your mouse over the staking icon in the bottom right of the wallet. There is more than likely a debug console command for checking stake weight as well but I haven't looked yet to see what that command was for bitbean.

Just sent 10 times 100k to one adress and you have ten chunks each staking independent.
Stakeweight depends on your coinage.
For networkstakeweight check console "getmininginfo"

[copychicken]

so for staking we need 6 hours, cause i ve reached 110 confirmations in 2 hours.. but no coins staking.

[SuperClam]

I have some questions about the PoS:
If a user has 1.000.000 BitB staking, after the 6 hours for maturing how many BitB will he gain? since it's not a % and it's based on the block how can the user know what to expect??
Another question: Should the user have 1 address with 1 Million BitB or 10 addresses with 100.000 bitB? Is there an diference?

Well, they should solve a block when their network stake is high enough after six hours, and that block will contain 1000 coins. In the case of Bitbean, it may increase block frequency if you split the 1 million coins into 10, 100k coin addresses.

so in this case having 10 addresses with 100K it's worse than one with1M ?
Where can I check the stake weight for BitB?

I was saying as far as I know there is a chance of finding more blocks with 10 addresses, each holding 100k coins. The 1 million coin address would find the block sooner, but you would only receive 1 block. The 10 addresses would find the blocks later, but they would each find their own 1000 coin block. So in that model it is more efficient and profitable to use multiple addresses.
As for checking stake weight, most wallets will give you the stake weight if you hover your mouse over the staking icon in the bottom right of the wallet. There is more than likely a debug console command for checking stake weight as well but I haven't looked yet to see what that command was for bitbean.

I don't have time to check the code at the moment, but unless there has been some fiddling I am unaware of, the concept revolves entirely around time-to-maturity.

By splitting an output into multiple piles, you avoid having a larger percentage of your "hash rate" dormant and waiting to mature.

A very respected community member, "dooglus" did some great math on efficiency over in the CLAM thread, but for the life of me I can't track it down.

[nokat]

Glad to see a new crypto follow the CLAM way

Proof-of-Working-Stake certainly does align the incentives of the network and stakers more appropriately.

Not sure if it qualifies for "innovative", considering we implemented it months and months ago, but it is certainly wise.


Well done!
Cheers  

Welcome SuperClam
I took the idea of static blocks for staking from Cinni's old pre-ann i found on a bitcointalk archive site. so its possible both of us are not "innovative" but that is not important as the method itself is innovative.  
Humanity needs to improve on each other to succeed.   Do you agree?

[copychicken]

[SuperClam]

Glad to see a new crypto follow the CLAM way
Proof-of-Working-Stake certainly does align the incentives of the network and stakers more appropriately.
Not sure if it qualifies for "innovative", considering we implemented it months and months ago, but it is certainly wise.
Well done!
Cheers  

Welcome SuperClam
I took the idea of static blocks for staking from Cinni's old pre-ann i found on a bitcointalk archive site. so its possible both of us are not "innovative" but that is not important as the method itself is innovative.  
Humanity needs to improve on each other to succeed.   Do you agree?

We all 'stand on the shoulders of giants', as they say.  
Indeed.

If someone doesn't believe in the open source way; they are in the wrong community.


A bit concerned about how you've hardened the network against attacks....?

20 * 60 * 24 * ?

The math gets very big, very quickly, my friend.

[nokat]

That shows the value of the last pow block found. Measured in Bitbean satoshi. 8 decimals. So 100,000 coins. which was the last pow block found by Minerpools mining pool.

[PCLogic]

https://i.imgur.com/8DE91QC.png

That shows the value of the last pow block found. Measured in Bitbean satoshi. 8 decimals. So 100,000 coins. which was the last pow block found by Minerpools mining pool.

So what do you call it? Beanoshi? 

[nokat]

Glad to see a new crypto follow the CLAM way
Proof-of-Working-Stake certainly does align the incentives of the network and stakers more appropriately.
Not sure if it qualifies for "innovative", considering we implemented it months and months ago, but it is certainly wise.
Well done!
Cheers  

Welcome SuperClam
I took the idea of static blocks for staking from Cinni's old pre-ann i found on a bitcointalk archive site. so its possible both of us are not "innovative" but that is not important as the method itself is innovative.  
Humanity needs to improve on each other to succeed.   Do you agree?

We all 'stand on the shoulders of giants', as they say.  
Indeed.

If someone doesn't believe in the open source way; they are in the wrong community.


A bit concerned about how you've hardened the network against attacks....?

20 * 60 * 24 * ?

The math gets very big, very quickly, my friend.

If you are talking about an attack where someone holds coins for a long time to get more coin age and find alot of blocks with a little amount of coins, getting alot of pos blocks and making a double spend. I made the max age 6 hours. so someone with a few coins can't gather enough coin age to get alot of blocks with few coins.

[nokat]

That shows the value of the last pow block found. Measured in Bitbean satoshi. 8 decimals. So 100,000 coins. which was the last pow block found by Minerpools mining pool.

So what do you call it? Beanoshi? 

Not sure 

[tiggytomb]

That shows the value of the last pow block found. Measured in Bitbean satoshi. 8 decimals. So 100,000 coins. which was the last pow block found by Minerpools mining pool.

So what do you call it? Beanoshi? 

Could call it 'Beanies' ?

[copychicken]

Beanoshi should be good...

[amsjef]

Beanoshi should be good...

+ 1....what a buy volume...looking foward to see this pump like NKT.

[SuperClam]

Glad to see a new crypto follow the CLAM way
Proof-of-Working-Stake certainly does align the incentives of the network and stakers more appropriately.
Not sure if it qualifies for "innovative", considering we implemented it months and months ago, but it is certainly wise.
Well done!
Cheers  

Welcome SuperClam
I took the idea of static blocks for staking from Cinni's old pre-ann i found on a bitcointalk archive site. so its possible both of us are not "innovative" but that is not important as the method itself is innovative.  
Humanity needs to improve on each other to succeed.   Do you agree?

We all 'stand on the shoulders of giants', as they say.  
Indeed.
If someone doesn't believe in the open source way; they are in the wrong community.
A bit concerned about how you've hardened the network against attacks....?
20 * 60 * 24 * ?
The math gets very big, very quickly, my friend.

If you are talking about an attack where someone holds coins for a long time to get more coin age and find alot of blocks with a little amount of coins, getting alot of pos blocks and making a double spend. I made the max age 6 hours. so someone with a few coins can't gather enough coin age to get alot of blocks with few coins.

No, I was referencing the block size limit and target block time.

20 MB @ 1 block per minute = 20 * 60 * 24 = 28800 MB max per day.

[BlindMayorBitcorn]

A LOT of Hype about this coin.  Y'all keep this up and it is MOON!!!

What did I miss and what is this hype all about ?

dude its bitbean, U dont know?

Dude! What happened to Bean? LOL at it beating Darkcoin in volume!?

[BlindMayorBitcorn]

[TimSweat]

I guess we dropped back to the #2 spot .

[nokat]

Glad to see a new crypto follow the CLAM way
Proof-of-Working-Stake certainly does align the incentives of the network and stakers more appropriately.
Not sure if it qualifies for "innovative", considering we implemented it months and months ago, but it is certainly wise.
Well done!
Cheers  

Welcome SuperClam
I took the idea of static blocks for staking from Cinni's old pre-ann i found on a bitcointalk archive site. so its possible both of us are not "innovative" but that is not important as the method itself is innovative.  
Humanity needs to improve on each other to succeed.   Do you agree?

We all 'stand on the shoulders of giants', as they say.  
Indeed.
If someone doesn't believe in the open source way; they are in the wrong community.
A bit concerned about how you've hardened the network against attacks....?
20 * 60 * 24 * ?
The math gets very big, very quickly, my friend.

If you are talking about an attack where someone holds coins for a long time to get more coin age and find alot of blocks with a little amount of coins, getting alot of pos blocks and making a double spend. I made the max age 6 hours. so someone with a few coins can't gather enough coin age to get alot of blocks with few coins.

No, I was referencing the block size limit and target block time.

20 MB @ 1 block per minute = 20 * 60 * 24 = 28800 MB max per day.

Are you saying the max block size is too large?
Well to prevent a ddos attack I can raise the transaction fee to 1 coin.
Block chain pruning and similar things will help make this not a problem for the actual use (non-ddos/attack) and attacks alike.
I have thought about this and have quite a few things planned.
Also Scalability and Anonymity are important for a payment network and finding ways for them is something to strive for. I have thought of ways for off chain transactions to work and further the scalability and also provide anonymous transactions by using multisig addresses and trustless payment gateways. With this we wouldn't even need the 20 mb max block size. But both together would be excellent.
I am really excited to work on this coin and Thank you for coming and sharing your thoughts and feedback. I appreciate it.