gkv9
Legendary
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Activity: 1246
Merit: 1000
!!! RiSe aBovE ThE StoRm !!!
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February 09, 2015, 01:01:46 PM |
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You will have a chance to Stake depending on the size of your Blocks, larger Blocks (300-1000) will Stake sooner than smaller Blocks. All Blocks you Stake will reward 30 Coins per block, the minimum Stake age is 2 days and begins as soon as Coins enter your wallet and is calculated as the Stake weight per Block of Coins vs. the network weight.
In simplified terms
If you send yourself 10 transactions of 400 Coins, You have 10 Blocks of 400 Coins each and after a minimum of 2 days they have a chance to Stake when you have your wallet open. Each Block of 400 Coins would Stake for a reward of 30 Coins and split into two equal Blocks of 215 Coins. It's still in POW/POS Stage and the Blocks are roughly 50/50 between POW and POS.
Take a look at the PayCon Block Explorer and check out some of the transactions to help get a better idea.
Ok, I got a bit of it, but what I would like to know is that, when it goes complete PoS as you have been saying at Cex that it has just one more day of PoW, then will the rewards' format be the same as you described above? |
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Crestington (OP)
Legendary
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Activity: 882
Merit: 1024
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February 09, 2015, 07:56:32 PM |
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You will have a chance to Stake depending on the size of your Blocks, larger Blocks (300-1000) will Stake sooner than smaller Blocks. All Blocks you Stake will reward 30 Coins per block, the minimum Stake age is 2 days and begins as soon as Coins enter your wallet and is calculated as the Stake weight per Block of Coins vs. the network weight.
In simplified terms
If you send yourself 10 transactions of 400 Coins, You have 10 Blocks of 400 Coins each and after a minimum of 2 days they have a chance to Stake when you have your wallet open. Each Block of 400 Coins would Stake for a reward of 30 Coins and split into two equal Blocks of 215 Coins. It's still in POW/POS Stage and the Blocks are roughly 50/50 between POW and POS.
Take a look at the PayCon Block Explorer and check out some of the transactions to help get a better idea.
Ok, I got a bit of it, but what I would like to know is that, when it goes complete PoS as you have been saying at Cex that it has just one more day of PoW, then will the rewards' format be the same as you described above? Yes, the only difference is that all Blocks will be POS instead of 50% POW and 50% POS Twice the chance of Staking a Block |
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candlesticks
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February 09, 2015, 08:02:28 PM |
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You will have a chance to Stake depending on the size of your Blocks, larger Blocks (300-1000) will Stake sooner than smaller Blocks. All Blocks you Stake will reward 30 Coins per block, the minimum Stake age is 2 days and begins as soon as Coins enter your wallet and is calculated as the Stake weight per Block of Coins vs. the network weight.
In simplified terms
If you send yourself 10 transactions of 400 Coins, You have 10 Blocks of 400 Coins each and after a minimum of 2 days they have a chance to Stake when you have your wallet open. Each Block of 400 Coins would Stake for a reward of 30 Coins and split into two equal Blocks of 215 Coins. It's still in POW/POS Stage and the Blocks are roughly 50/50 between POW and POS.
Take a look at the PayCon Block Explorer and check out some of the transactions to help get a better idea.
Ok, I got a bit of it, but what I would like to know is that, when it goes complete PoS as you have been saying at Cex that it has just one more day of PoW, then will the rewards' format be the same as you described above? It will continue to pay 30 CON per block, after PoW ends in approximately 1050 blocks. Welcome aboard, enjoy your stake.  |
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elmanager
Sr. Member
Offline
Activity: 306
Merit: 250
Cryptobulgarian ninja
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February 09, 2015, 08:02:50 PM |
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candlesticks
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February 09, 2015, 08:11:10 PM |
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^ Thanks, I needed a good laugh today  |
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fmz89
Legendary
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Activity: 1762
Merit: 1002
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February 10, 2015, 02:34:57 AM |
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What happen with con after POW ends Any news dev !! Or paycon wil be ready to enter wormhole  Or blackhole  |
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Crestington (OP)
Legendary
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Activity: 882
Merit: 1024
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February 10, 2015, 04:47:39 AM |
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What happen with con after POW ends Any news dev !! Or paycon wil be ready to enter wormhole Or blackhole All that happens is that POS won't be competing with POW anymore. |
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Battareus
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February 10, 2015, 05:28:33 PM |
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Updated OP looks great  |
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gkv9
Legendary
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Activity: 1246
Merit: 1000
!!! RiSe aBovE ThE StoRm !!!
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February 10, 2015, 05:35:25 PM |
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Hey Dev,
Is the coin turned out to be pure PoS now? Please update the OP with the same, also please also describe as to how the rewards will be given during PoS, so to make it a lot easier for everyone including newbies and people like me who don't understand the concept much.
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drays
Legendary
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Activity: 2576
Merit: 1073
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February 10, 2015, 06:33:14 PM |
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Just 50 blocks remained before PoW is finished! So PayCon will become pure PoS in about 50 minutes (actually less than that, maybe 25 minutes, as PoS is going in parallel) |
... this space is not for rent ... |
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Paul Revere
Sr. Member
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Activity: 406
Merit: 260
The Scamcoats are coming!
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February 10, 2015, 06:41:43 PM |
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All of my posts are simply statements of my own personal opinions based on available information and pondering what might be possible considering human nature, with the goal of finding truth and preventing fraud. Please look at all of the facts and theories and put your thinking cap on to draw your own conclusions. If you feel that I have made a false statement or have been unnecessarily derogatory, I encourage you to please point it out, and if proven correct and/or reasonable I will remedy it. ~ Paul Revere
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mannyg
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February 10, 2015, 08:43:28 PM |
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My miners are still mining at pool... POW still working?
Wallet says POS only
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candlesticks
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February 10, 2015, 08:48:14 PM |
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My miners are still mining at pool... POW still working?
Wallet says POS only
Switch your miners, PoW is over |
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sudo23
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February 10, 2015, 11:03:50 PM |
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Crestington (OP)
Legendary
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Activity: 882
Merit: 1024
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February 10, 2015, 11:28:54 PM |
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Hey Dev,
Is the coin turned out to be pure PoS now? Please update the OP with the same, also please also describe as to how the rewards will be given during PoS, so to make it a lot easier for everyone including newbies and people like me who don't understand the concept much.
Yeah, I'll update it tonight/tomorrow as I work on an announcement. Updated OP looks great Thanks, I combined a few of the pictures so I can minimize the space layout. If you like the OP pics or want to add to it by all means go for it as well, I will need to change things around on the OP in order to make it less cluttered, more awesome, and easier to understand. |
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gokcey
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February 10, 2015, 11:31:53 PM
Last edit: February 11, 2015, 01:23:43 AM by gokcey |
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why arent sync  |
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Crestington (OP)
Legendary
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Activity: 882
Merit: 1024
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February 10, 2015, 11:53:33 PM
Last edit: February 11, 2015, 01:19:09 AM by Crestington |
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why arent sync
Possibly have some conflicting transactions. Move your wallet out of your appdata/roaming/PayCon folder, delete everything in the folder except the PayCon.conf file and resync the Blockchain from the start with an empty wallet. Once you are fully synced, close your PayCon-qt client and move your wallet.dat containing your balance back into your PayCon folder. Also updated the OP |
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Crestington (OP)
Legendary
Offline
Activity: 882
Merit: 1024
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February 11, 2015, 01:12:16 AM |
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Updated the op with current vote count on BTER, cleaned it up to make it easier to understand and navigate.
Now rank 63 with 350 votes!!
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gokcey
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February 11, 2015, 01:18:18 AM |
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why arent sync
Possibly have some conflicting transactions. Move your wallet out of your appdata/roaming/PayCon folder, delete everything in the folder except the PayCon.conf file and resync the Blockchain from the start with an empty wallet. Once you are fully synced, close your PayCon-qt client and move your wallet.dat containing your balance back into your PayCon folder. Also updated the OP My problem solved. Thx |
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