ok guys, i just sold some other coins so i could triple my UTC holdings because i think this has the most potential to go up in price medium-term and damn this coin is fast...
NOW, i would like to start getting proof of stake on my mac wallet, to do this all i need to do is click "Enable Stake Minting" in the overview tab of the wallet? is that correct?
how long does it take for my balance to show up in "stake" on the overview tab?
please let me know if im missing something...
Thanks,
@ Jacobshm and jdh015232,
Yes, for the sake of security, first and foremost you should encrypt your wallet, which you should already be doing with any coin wallet. Then click on the "Enable Stake Minting" tab. Enter your passphrase and you are Proof of Staking securely.
The beauty of Ultracoin - (as some other coins as well) is that Ultracoin also has "coin control" feature. Proof of stake is a joke without "coin control" feature unless you plan on buying coin and sitting on it in your wallet for 365 days without ever sending coins to someone. Without "coin control" there is no way to know that you just potentially sent a POS block transaction that was just nearing it's 365 day maturity?
Please see my similar questions I asked and were answered on thread page 692.
Jacobshm ask "how long does it take for my balance to show up in "stake" on the overview tab?" I think it has to be 365 days. Correct me if I'm wrong Dev's.
Once you grasp "coin control" I think you will be able to better grasp how POS can work in a positive way.
Please research those links provided by Bumface from Hobonickels.
Coin control is an amazing feature, and will help your investment flourish.
I'm not a day trader. I wish I was, but I still have a full time job. Yet, with POS coin control, if I want to be a day trader on a Saturday or a Sunday, I have the ability to get into the exchanges with my weakest POS block transaction (in my case mining transactions) reward potentials and decide if I want to utilize them to allocate the amazing features provided by our very own DCgirl's Ultra-arb.com website.
BTC will soon go into the bull trend again. Once BTC goes bull - in my opinion - the ultra-arb.com website will put UTC's already great future, into the sun!!
If you haven't already heard...
http://dealbook.nytimes.com/2014/05/08/winklevoss-twins-to-list-bitcoin-fund-on-nasdaq/?_php=true&_type=blogs&_r=0BTC about to be on Nasdaq
Cheers
Craig Claussen