[ANN][NKA] INCAKOIN l Perú l Launched Aug 2013 | update v.1.5.2.0 released

[seremas]

Hello,

I am new here .

I have installed the Wallet, and I have transferred Incakoins to my wallet. How can i stake those coins to earn the 9 % interest per 35 days.

Is there a procedure if someone want to stake the coins from the main balance?

[DisasterFaster]

Hello,

I am new here .

I have installed the Wallet, and I have transferred Incakoins to my wallet. How can i stake those coins to earn the 9 % interest per 35 days.

Is there a procedure if someone want to stake the coins from the main balance?

Seremas good to see you in the community!

As far as I know the coins will stake without you having to do anything. By just having and holding coins in that wallet they will stake automatically.

Based on the coin specs they should stake something like 9% every 35 days but that can vary a bit.

[seremas]

Thanks for the reply!

I have also followed your instructions for mining the coins.

In the console, when I type: " getmininginfo "

I have the following message:

{
"blocks" : 2027934,
"currentblocksize" : 9322,
"currentblocktx" : 36,
"difficulty" : {
"proof-of-work" : 27.45662687,
"proof-of-stake" : 0.00390625
},
"errors" : "",
"generate" : true,
"genproclimit" : 1,
"hashespersec" : 504248,
"networkhashps" : 1965421907,
"netstakeweight" : 62561.10150363,
"pooledtx" : 36,
"testnet" : false
}


Is it starting mining?

When will I receive my first coins?

[gallery2000]

This doesn't seem right.  every minute 1 block is being mined.  1 block = 3.28 NKA.  In 1 hour you could get 60 blocks MAX ==> 196 NKA.  In one day you could get MAX of 4725.  That would be $1.94 a day MAX, but realistically, you would get 30% of that which equals 57 cents.  Not worth to mine this coin.   So it is cheaper to buy the coin then mine.  Even if you have the fastest mining equipment, the bottle neck is 1 block per minute.  

I agree with you in that if you do the math on a day to day mining basis you can't ROI this coin right now. I also agree with these other posters that are saying the coin stakes and can gain in value so in the long run that mining could pay off.

Now with all that being said I want to point out that there are current discussions to change the block reward on this coin. This is to address the point which you precisely made and past that to help encourage mining which will help secure the network.

Question is a bit of mathematics will need to be done in order to decide what the block reward should be changed to. Based on your quick math you arrived at .57 a day. If you're math is in the ball park I would say a block reward of 50 would start looking very good to a miner. An IncaKoin block reward of 50 would tweak your numbers to something more like $8.70 a day. I suppose whoever decides on what the new block reward is will also need to consider that as that change brings in more miners the difficulty level will go up so maybe the block reward would need to be more than 50.

If we have any experienced miners running around the place I'd love to hear your input on what you think would be a good block reward number to generate good interest in mining this coin  

EDIT: One other thing I forgot to mention that does matter. This coin mines right from the wallet with just a cpu. This makes it very miner friendly for a newbie since you wouldn't have to setup and run mining software nor join a mining pool. The bar for mining this coin is very low and one doesn't need high dollar ASICS, video cards, advanced technical knowledge etc. etc.

What you do is you mine the more profitable coins then buy this coin.  You have that choice.  Yes, if the difficulty is below 30 then you can get some coins with cpu mining, but once it is above 30, then good luck.

[gallery2000]

Thanks for the reply!

I have also followed your instructions for mining the coins.

In the console, when I type: " getmininginfo "

I have the following message:

{
"blocks" : 2027934,
"currentblocksize" : 9322,
"currentblocktx" : 36,
"difficulty" : {
"proof-of-work" : 27.45662687,
"proof-of-stake" : 0.00390625
},
"errors" : "",
"generate" : true,
"genproclimit" : 1,
"hashespersec" : 504248,
"networkhashps" : 1965421907,
"netstakeweight" : 62561.10150363,
"pooledtx" : 36,
"testnet" : false
}


Is it starting mining?

When will I receive my first coins?

Yes, you are mining because "generate" : true,

With the difficulty approaching 30, you might have to wait for a long time to get a coin

[DisasterFaster]

Thanks for the reply!

I have also followed your instructions for mining the coins.

In the console, when I type: " getmininginfo "

I have the following message:

{
"blocks" : 2027934,
"currentblocksize" : 9322,
"currentblocktx" : 36,
"difficulty" : {
"proof-of-work" : 27.45662687,
"proof-of-stake" : 0.00390625
},
"errors" : "",
"generate" : true,
"genproclimit" : 1,
"hashespersec" : 504248,
"networkhashps" : 1965421907,
"netstakeweight" : 62561.10150363,
"pooledtx" : 36,
"testnet" : false
}


Is it starting mining?

When will I receive my first coins?

Seremas,

• "generate" : true, | This means you're generating coins or mining
• "genproclimit" : 1, | This indicates how many cores are dedicated to mining
• "hashespersec" : 504248, | This is your mining hashrate

You are definitely mining!

Note: Bear in mind a mined block needs 5000 blocks until a full confirmation and this is something like about 3 days or so.

[seremas]

Wow, it is really exciting

I think I won't mine from my home computer, but instead from a more powerful VPS...

What are the specifications I should have on my VPS in order to get the best results and make it profitable?

Also, how can I transfer my wallet from my computer to another one? without losing my coins...

[nastydevil]

Thanks for the reply!

I have also followed your instructions for mining the coins.

In the console, when I type: " getmininginfo "

I have the following message:

{
"blocks" : 2027934,
"currentblocksize" : 9322,
"currentblocktx" : 36,
"difficulty" : {
"proof-of-work" : 27.45662687,
"proof-of-stake" : 0.00390625
},
"errors" : "",
"generate" : true,
"genproclimit" : 1,
"hashespersec" : 504248,
"networkhashps" : 1965421907,
"netstakeweight" : 62561.10150363,
"pooledtx" : 36,
"testnet" : false
}


Is it starting mining?

When will I receive my first coins?

Generate "true" is what tells you if you're actually mining. In this case you are mining. However to mine with more core you can change setgenerate true "1-8" in order to add more core. Doing so will results in genproclimit "1-8". You can see you hashespersec "504248" is your speed. it's not much but increasing your core will add to the spead. Setgenerate true "4" during the day is good and during night setgenerate true "6" is good. Well, thats for me.

On another point, do you see transactions in the transaction tab? I have the same probleme as you right now. I'm mining, but I don't get any transaction.

So if anyone wants to help us, here's what I have:

Code:

09:54:13

getmininginfo


09:54:13

{
"blocks" : 2027936,
"currentblocksize" : 9306,
"currentblocktx" : 36,
"difficulty" : {
"proof-of-work" : 27.54416813,
"proof-of-stake" : 0.00390625
},
"errors" : "",
"generate" : true,
"genproclimit" : 6,
"hashespersec" : 6380189,
"networkhashps" : 1991325032,
"netstakeweight" : 62561.10150363,
"pooledtx" : 36,
"testnet" : false
}

1
However, I can't see any recent transaction. My last transaction was from yesterday 19:57 EDT. I can upload my backlog if anyone wants to check it out. or maybe it's just the wallet?.

edit: I'm pretty sure at this point that the wallet is lying to me and i'm not mining despite the getmininginfo results.

[DisasterFaster]

Wow, it is really exciting

I think I won't mine from my home computer, but instead from a more powerful VPS...

What are the specifications I should have on my VPS in order to get the best results and make it profitable?

Also, how can I transfer my wallet from my computer to another one? without losing my coins...

Seremas,

If you do the math and assuming you want to mine coins and immediately sell them I don't think you can see an ROI and that is based on current coin value and current block reward. If the current block reward and/or the coin value goes up then the ROI issue will look much different. Not all miners are alike. Some want to mine and sell mine and sell and generate enough profit that they consider it to be worthwhile. Other miners will mine a coin at break even ROI or even at a negative ROI because they are on a more long term approach and are maybe going to stake the coin for gains and also speculating that the coin could boost up in value. Maybe this approach is something like a speculative mining hobby lol! What you choose to mine or not mine and whatever your strategy is that's up to you.

As far as a wallet transfer you can click on file and then click backup and create a backup copy that can be placed into another wallet. Alternately you can also just navigate to the data directory and copy the file named wallet.dat. The copy of wallet.dat that you create can be placed into a wallet and presto bingo your ready to go. The location of your IncaKoin data directory may vary as some people use the default location and some don't. If you're unable to locate it let us know your operating system and you can get some quick guidance on that if needed.

[gallery2000]

Wow, it is really exciting

I think I won't mine from my home computer, but instead from a more powerful VPS...

What are the specifications I should have on my VPS in order to get the best results and make it profitable?

Also, how can I transfer my wallet from my computer to another one? without losing my coins...

very hard to have this wallet on linux.  It would freeze your vps because of the way this coin wallet operates.

[gallery2000]

Thanks for the reply!

I have also followed your instructions for mining the coins.

In the console, when I type: " getmininginfo "

I have the following message:

{
"blocks" : 2027934,
"currentblocksize" : 9322,
"currentblocktx" : 36,
"difficulty" : {
"proof-of-work" : 27.45662687,
"proof-of-stake" : 0.00390625
},
"errors" : "",
"generate" : true,
"genproclimit" : 1,
"hashespersec" : 504248,
"networkhashps" : 1965421907,
"netstakeweight" : 62561.10150363,
"pooledtx" : 36,
"testnet" : false
}


Is it starting mining?

When will I receive my first coins?

Generate "true" is what tells you if you're actually mining. In this case you are mining. However to mine with more core you can change setgenerate true "1-8" in order to add more core. Doing so will results in genproclimit "1-8". You can see you hashespersec "504248" is your speed. it's not much but increasing your core will add to the spead. Setgenerate true "4" during the day is good and during night setgenerate true "6" is good. Well, thats for me.

On another point, do you see transactions in the transaction tab? I have the same probleme as you right now. I'm mining, but I don't get any transaction.

So if anyone wants to help us, here's what I have:

Code:

09:54:13

getmininginfo


09:54:13

{
"blocks" : 2027936,
"currentblocksize" : 9306,
"currentblocktx" : 36,
"difficulty" : {
"proof-of-work" : 27.54416813,
"proof-of-stake" : 0.00390625
},
"errors" : "",
"generate" : true,
"genproclimit" : 6,
"hashespersec" : 6380189,
"networkhashps" : 1991325032,
"netstakeweight" : 62561.10150363,
"pooledtx" : 36,
"testnet" : false
}

1
However, I can't see any recent transaction. My last transaction was from yesterday 19:57 EDT. I can upload my backlog if anyone wants to check it out. or maybe it's just the wallet?.

edit: I'm pretty sure at this point that the wallet is lying to me and i'm not mining despite the getmininginfo results.

The reason you got a coin yesterday and not today is because the difficulty from yesterday was 4 and today it is 28.  So you may wait a week before you get a coin.  Of course, you can get a coin in two minutes if you are lucky, but with this difficulty and cpu mining, it will take a week.  So you are earning a nickel a week-- that is not a good incentive.

[DisasterFaster]

Thanks for the reply!

I have also followed your instructions for mining the coins.

In the console, when I type: " getmininginfo "

I have the following message:

{
"blocks" : 2027934,
"currentblocksize" : 9322,
"currentblocktx" : 36,
"difficulty" : {
"proof-of-work" : 27.45662687,
"proof-of-stake" : 0.00390625
},
"errors" : "",
"generate" : true,
"genproclimit" : 1,
"hashespersec" : 504248,
"networkhashps" : 1965421907,
"netstakeweight" : 62561.10150363,
"pooledtx" : 36,
"testnet" : false
}


Is it starting mining?

When will I receive my first coins?

Generate "true" is what tells you if you're actually mining. In this case you are mining. However to mine with more core you can change setgenerate true "1-8" in order to add more core. Doing so will results in genproclimit "1-8". You can see you hashespersec "504248" is your speed. it's not much but increasing your core will add to the spead. Setgenerate true "4" during the day is good and during night setgenerate true "6" is good. Well, thats for me.

On another point, do you see transactions in the transaction tab? I have the same probleme as you right now. I'm mining, but I don't get any transaction.

So if anyone wants to help us, here's what I have:

Code:

09:54:13

getmininginfo


09:54:13

{
"blocks" : 2027936,
"currentblocksize" : 9306,
"currentblocktx" : 36,
"difficulty" : {
"proof-of-work" : 27.54416813,
"proof-of-stake" : 0.00390625
},
"errors" : "",
"generate" : true,
"genproclimit" : 6,
"hashespersec" : 6380189,
"networkhashps" : 1991325032,
"netstakeweight" : 62561.10150363,
"pooledtx" : 36,
"testnet" : false
}

1
However, I can't see any recent transaction. My last transaction was from yesterday 19:57 EDT. I can upload my backlog if anyone wants to check it out. or maybe it's just the wallet?.

edit: I'm pretty sure at this point that the wallet is lying to me and i'm not mining despite the getmininginfo results.

I do think your mining after looking at your getmininginfo output. The likely explanation is that the difficulty level vs. your hashrate has equaled you not getting a block since yesterday evening. If you want you can always shut down the wallet and reboot it and start mining again and recheck your getmining info. I hope you get some blocks soon!

[seremas]

Thanks for the all your help. I really appreciate

I believe in your Coin in the long term run. That's why I will invest money to buy more coins.

I have some coins already in my wallet.

Do I need to launch the wallet for my coins to stake? ,or I can leave the wallet closed and open the wallet in 40 days to see my earnings?

[DisasterFaster]

Thanks for the all your help. I really appreciate

I believe in your Coin in the long term run. That's why I will invest money to buy more coins.

I have some coins already in my wallet.

Do I need to launch the wallet for my coins to stake? ,or I can leave the wallet closed and open the wallet in 40 days to see my earnings?

You're welcome on the help 

You don't have to leave your wallet running 24/7 for your coins to stake.

To comment on your long term I would quote a previous poster a few threads back who said, "anything can happen." I can relate to this. I've mined a 1 satoshi coin at major negative ROI but guess what... that coin boomed up like crazy and all of a sudden I was pretty happy about things. On the other hand there was another coin I bought in at around .14 cents and it turned out to be a scam coin and now it's de-listed and not even worth 1 satoshi! This experience gives me good reason to work with this IncaKoin because it's a 4 year old block chain, I've spoken with all the dev's and this is a solid time-proven reliable coin and I think it has tons of potential with some upcoming changes that are in the works.

[seremas]

Ok, good to know that you share my point of view in the long term run 

I think the reward is huge for staking coins, and many people want fast and reliable transactions.

What are the upcoming changes that make you believe in the coin?

[nastydevil]

I do think your mining after looking at your getmininginfo output. The likely explanation is that the difficulty level vs. your hashrate has equaled you not getting a block since yesterday evening. If you want you can always shut down the wallet and reboot it and start mining again and recheck your getmining info. I hope you get some blocks soon!

too bad. yesterday POW diff was at 0.02 and today it's 27ish. damn it. It was intertaining for 2 days.

[DisasterFaster]

What are the upcoming changes that make you believe in the coin?

A new website is being built as we speak.
A new block explorer will be up any day now.

The following changes are being worked into a new roadmap that will be released hopefully within a week or two and they will be grouped into short-term, mid-term and long term changes.

• One mouse click to turn wallet mining on and off
• Mouse over mining icon to view current hash rate
• One mouse click to turn wallet staking on and off
• Mouse over staking icon to view staking status
• DNS seeder
• Bootstrap blockchain
• Updated website
• New block explorer that is included within the website
• Marketing video explaining the desirability of the coin
• Tutorial video(s) explaining how to get started with IncaKoin
• Multi-language wallet
• iPhone & Android wallet app
• Listings on additional exchanges
• One or more press releases
• Ability to buy the coin at the website
• A staking table in the wallet that shows a variety of staking details
• Staking accrues incrementally 24/7 only if wallet is online and connected to at least 4 other nodes
• Increase the block reward so that mining could ROI at current coin value
• Reduce the 5000 block requirement for mined coins to become confirmed
• 32 & 64 bit versions of the wallet for Windows, Mac & Linux
• Ability to choose install directory and data directory during installation
• One mouse click to create/open/edit IncaKoin.conf file
• One mouse click to access wallet repair for zapwallettxes/re-index/rescan
• Seed implementation to restore wallet without backup copy/cloud storage
• Master node implementation

[seremas]

it looks promising!!

In long term perspective, will you maintain the reward at 9% for every 35 days? or it may be changed with MN implementation ?

[DisasterFaster]

it looks promising!!

In long term perspective, will you maintain the reward at 9% for every 35 days? or it may be changed with MN implementation ?

That's up for discussion and I'm sure whatever the founder finally decides on will be heavily influenced by feedback coming from the community.

[seremas]

OK

So maybe a poll on this topic?