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jdh015232
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February 26, 2014, 05:03:30 AM |
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This coin is gonna blow up once people realize they can mine it just by holding it in their wallet  How does that work exactly though ? I think that needs to be in the OP. Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network so the rich will get richer? see:PPC |
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WalkerLi
Full Member
 Offline
Activity: 238
Merit: 100
hello world, hello crypto
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February 26, 2014, 05:06:55 AM |
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Dev, still no POS block as the block explorer, why?  |
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Miner232432
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February 26, 2014, 05:07:18 AM |
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This coin is gonna blow up once people realize they can mine it just by holding it in their wallet How does that work exactly though ? I think that needs to be in the OP. Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network When you say connected to network, you mean just having the coins in your storage? If so, does this require the wallet to be open and unlocked at all times? It needs to be connected to the network as in your wallet is running and your PC is on the internet. Anything offline will not be entered into the mining lottery |
I am blunt, don't like it ? Too bad
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slavo
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February 26, 2014, 05:07:33 AM |
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can you explain the concept of 1% interest compounded ?
i don't undetstand what it means.
how it is different from 1% yearly interest ?
thanks.
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SCryptoMiners
Member
Offline
Activity: 112
Merit: 10
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February 26, 2014, 05:08:37 AM |
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SCryptoMiners BlackCoin Pool (1.4 gh/s)http://bc.scryptominers.comPPLNS (Pay Per Last N Shares) reward systemRound earnings credited after 520 confirms. All block transaction fees are passed along to miners. Minimum payout is 1 BlackCoin. We process payouts every 60 seconds. We run multiple mining pools that can be seen in my signature. You will be safe mining with us. |
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Jeezy911
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February 26, 2014, 05:09:18 AM |
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This coin is gonna blow up once people realize they can mine it just by holding it in their wallet How does that work exactly though ? I think that needs to be in the OP. Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network When you say connected to network, you mean just having the coins in your storage? If so, does this require the wallet to be open and unlocked at all times? It needs to be connected to the network as in your wallet is running and your PC is on the internet. Anything offline will not be entered into the mining lottery That's pretty crazy, this coin is insane haha. |
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TrollboxChamp
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February 26, 2014, 05:10:08 AM |
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Dev, still no POS block as the block explorer, why? PoW is not done yet. |
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artiface
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February 26, 2014, 05:10:13 AM |
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This coin is gonna blow up once people realize they can mine it just by holding it in their wallet How does that work exactly though ? I think that needs to be in the OP. Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network When you say connected to network, you mean just having the coins in your storage? If so, does this require the wallet to be open and unlocked at all times? Yes your wallet must be open and unlocked. You can unlock it for staking only. in the console type: walletpassphrase <password> 9999999 true 9999999 or however many seconds you want to unlock to generate stake true to unlock for staking only If you unlock for staking only you still need to enter the passphrase for transactions |
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tabnk
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February 26, 2014, 05:12:43 AM |
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Seriously, I'm missed this boat. NET HASH @ 11GH/s now  . |
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artiface
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February 26, 2014, 05:13:52 AM |
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can you explain the concept of 1% interest compounded ?
i don't undetstand what it means.
how it is different from 1% yearly interest ?
thanks.
If you generate 1% in a year on 10,000 coins you would have 10,100 coins. If you generate 1% every 8 hours for example, you would have 10100 10201 10303.01 10406.0401 10510.1005 10615.20151 10721.35352 10828.56706 10936.85273 11046.22125 11156.68347 etc.. you see how compound interest grows quickly. of course all your coins are not going to stake every 8 hours. |
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Miner232432
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February 26, 2014, 05:14:32 AM |
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can you explain the concept of 1% interest compounded ?
i don't undetstand what it means.
how it is different from 1% yearly interest ?
thanks.
1% yearly interest is still compounded interest All compounded means is once you receive your interest that amount becomes a part of your total assets to accumulate interest |
I am blunt, don't like it ? Too bad
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TrollboxChamp
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February 26, 2014, 05:15:36 AM |
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This coin is gonna blow up once people realize they can mine it just by holding it in their wallet How does that work exactly though ? I think that needs to be in the OP. Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network When you say connected to network, you mean just having the coins in your storage? If so, does this require the wallet to be open and unlocked at all times? Yes your wallet must be open and unlocked. You can unlock it for staking only. in the console type: walletpassphrase <password> 9999999 true 9999999 or however many seconds you want to unlock to generate stake true to unlock for staking only If you unlock for staking only you still need to enter the passphrase for transactions Just set this up. Thanks a bunch! |
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splitting
Member
Offline
Activity: 68
Merit: 10
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February 26, 2014, 05:16:04 AM |
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 How's this for getting in an hour after launch? |
AMD Gigabyte Radeon HD 7950 - 650 kh/s
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AltcoinAuthority
Sr. Member
Offline
Activity: 616
Merit: 251
CryptoTalk.Org - Get Paid for every Post!
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February 26, 2014, 05:16:40 AM |
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Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting. Thanks in advance for the help  |
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artiface
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February 26, 2014, 05:17:21 AM |
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Stake interest: 1% annually
Is that all?
Are you a banker?
Well, nominal interest is 1% annually. And minimal stake age is 8 hours. Now imagine compound interest Edited: to be more srs, PoS mining is cheap |
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Jeezy911
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February 26, 2014, 05:17:28 AM |
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This coin is gonna blow up once people realize they can mine it just by holding it in their wallet How does that work exactly though ? I think that needs to be in the OP. Basically it's a lottery, each coin you hold can be considered a ticket. Every 60 seconds a "ticket" will be drawn to be the miner and the miner gets his reward. The probability of having one of your coins picked depends on amount of coins you hold and amount of total coins minted, for the start of POS it would be n/1bil * 100 where n = coins held If you're not connected to the network then you can't have the chance for your coins to be picked and it will roll over to another coin on the network When you say connected to network, you mean just having the coins in your storage? If so, does this require the wallet to be open and unlocked at all times? Yes your wallet must be open and unlocked. You can unlock it for staking only. in the console type: walletpassphrase <password> 9999999 true 9999999 or however many seconds you want to unlock to generate stake true to unlock for staking only If you unlock for staking only you still need to enter the passphrase for transactions Ill probably just leave it unlocked forever, I prefer armed guards anyway  |
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artiface
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February 26, 2014, 05:17:55 AM |
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Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting. Thanks in advance for the help If it's not locked you don't have to unlock it. It will mint automatically. |
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AltcoinAuthority
Sr. Member
Offline
Activity: 616
Merit: 251
CryptoTalk.Org - Get Paid for every Post!
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February 26, 2014, 05:18:39 AM |
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Hey guys, I know this question was asked a million times, but how do I unlock my wallet for minting? It is not encrypted, so I don't have a passcode. Am I missing something? This is my first time holding a coin long enough to actually want to start minting. Thanks in advance for the help If it's not locked you don't have to unlock it. It will mint automatically. And when will minting start/how will I know how many coins I have Minted? |
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Zackgeno96
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February 26, 2014, 05:20:15 AM |
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do i need to do anything for my coins to gain intrest? oh nvm it hasnt even started yet LOL
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