[ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1578.

artiface

full member

Activity: 238

Merit: 100

Quote from: MickeNorsk on February 28, 2014, 04:07:29 PM

Quote from: flaminius on February 28, 2014, 04:00:54 PM

Quote from: artiface on February 28, 2014, 02:40:36 PM

I just realized that I don't think there will actually be 100 million total coins by block 10000. At block 10000 POW will no longer give rewards.
We are at 7418 right now, but a lot of those blocks are from POS which did not generate a 10000 BC reward. As evidenced by the fact that the
the moneysupply is 61,660,685 instead of 74,180,000. This coin will be a little rarer than expected.

I was looking at that too... I believe that any coins that are currently being held in stake are effectively taken out of the money supply until they remature and that the money supply shown will fluctuate as various chunks of coins stake and mature. PoW is still generating 10,000 BC per block x 10,000 blocks for 100,000,000 coins. There is no way around that math.

Are you really sure? Looking at http://blocks.blackcoin.pw/chain/BlackCoin I see alot of blocks at less than 10000 value out. For example block 7580 and 7581.

Exactly ... see my post right above yours.

MickeNorsk

full member

Activity: 126

Merit: 100

Quote from: flaminius on February 28, 2014, 04:00:54 PM

Quote from: artiface on February 28, 2014, 02:40:36 PM

I just realized that I don't think there will actually be 100 million total coins by block 10000. At block 10000 POW will no longer give rewards.
We are at 7418 right now, but a lot of those blocks are from POS which did not generate a 10000 BC reward. As evidenced by the fact that the
the moneysupply is 61,660,685 instead of 74,180,000. This coin will be a little rarer than expected.

I was looking at that too... I believe that any coins that are currently being held in stake are effectively taken out of the money supply until they remature and that the money supply shown will fluctuate as various chunks of coins stake and mature. PoW is still generating 10,000 BC per block x 10,000 blocks for 100,000,000 coins. There is no way around that math.

Are you really sure? Looking at http://blocks.blackcoin.pw/chain/BlackCoin I see alot of blocks at less than 10000 value out. For example block 7580 and 7581.

artiface

full member

Activity: 238

Merit: 100

Quote from: flaminius on February 28, 2014, 04:00:54 PM

Quote from: artiface on February 28, 2014, 02:40:36 PM

I just realized that I don't think there will actually be 100 million total coins by block 10000. At block 10000 POW will no longer give rewards.
We are at 7418 right now, but a lot of those blocks are from POS which did not generate a 10000 BC reward. As evidenced by the fact that the
the moneysupply is 61,660,685 instead of 74,180,000. This coin will be a little rarer than expected.

I was looking at that too... I believe that any coins that are currently being held in stake are effectively taken out of the money supply until they remature and that the money supply shown will fluctuate as various chunks of coins stake and mature. PoW is still generating 10,000 BC per block x 10,000 blocks for 100,000,000 coins. There is no way around that math.

Yes but it seems that POS blocks count toward block height. After block height 10000 no more POW rewards will be given. Every POS block removes a potential 10,000 POW reward from the total supply. If i'm understanding correctly what it looks like in the code.

TheProgrammer

member

Activity: 78

Merit: 10

Quote from: blade87 on February 28, 2014, 04:00:14 PM

298 BTC volume in 24 hours is 25% of the market cap. Someone is doing a lot of back and forth trading to themselves.

304 BTC now lol. Just crazy today

flinchy

member

Activity: 98

Merit: 10

Quote from: energ on February 28, 2014, 03:53:51 PM

Quote from: flinchy on February 28, 2014, 03:52:35 PM

Not too happy with scrypto... 9mh/s for the last 6 hours has +600 confirmed, zero unconfirmed Sad

LOL
better let stake

Hah.

bitcoin carpenter

legendary

Activity: 1582

Merit: 1001

wierd coin..... I have no idea what is going to happen tomorrow after the coins are all mined

flaminius

full member

Activity: 140

Merit: 100

Quote from: artiface on February 28, 2014, 02:40:36 PM

I just realized that I don't think there will actually be 100 million total coins by block 10000. At block 10000 POW will no longer give rewards.
We are at 7418 right now, but a lot of those blocks are from POS which did not generate a 10000 BC reward. As evidenced by the fact that the
the moneysupply is 61,660,685 instead of 74,180,000. This coin will be a little rarer than expected.

I was looking at that too... I believe that any coins that are currently being held in stake are effectively taken out of the money supply until they remature and that the money supply shown will fluctuate as various chunks of coins stake and mature. PoW is still generating 10,000 BC per block x 10,000 blocks for 100,000,000 coins. There is no way around that math.

blade87

hero member

Activity: 644

Merit: 500

298 BTC volume in 24 hours is 25% of the market cap. Someone is doing a lot of back and forth trading to themselves.

Soepkip

sr. member

Activity: 476

Merit: 250

Quote from: ski92 on February 28, 2014, 03:39:05 PM

I can translate OP to Cantonese?

Also how hard is compounded interest to calculate, jesus!
Wallet update should be good.

Hoping this does ok,
anyone want to buy some app coins? LOL

Would be nice yes, there is a bounty for it. Post it in the chinese forums and message me the link, a bounty will then be sent to you.

energ

full member

Activity: 156

Merit: 100

Quote from: flinchy on February 28, 2014, 03:52:35 PM

Not too happy with scrypto... 9mh/s for the last 6 hours has +600 confirmed, zero unconfirmed Sad

LOL
better let stake

flinchy

member

Activity: 98

Merit: 10

Not too happy with scrypto... 9mh/s for the last 6 hours has +600 confirmed, zero unconfirmed Sad

Stonerboy

sr. member

Activity: 344

Merit: 250

ALL IN!

Quote from: sgi02 on February 28, 2014, 03:45:22 PM

Check out the sell orders at Mintpal over 2600.... :O

Looks like a pump coming Grin

Think someone (or a group) was microbuying all day Grin

TMoney508

member

Activity: 78

Merit: 10

Quote from: sgi02 on February 28, 2014, 03:45:22 PM

Check out the sell orders at Mintpal over 2600.... :O

Looks like someone is trying to keep the price down.

rsx19

full member

Activity: 182

Merit: 100

still no steak, only poor'k

sgi02

sr. member

Activity: 542

Merit: 250

Check out the sell orders at Mintpal over 2600.... :O

Stonerboy

sr. member

Activity: 344

Merit: 250

ALL IN!

Good day to buy Grin

TheProgrammer

member

Activity: 78

Merit: 10

Someone should actually buy all these coins dumper at lower prices so they are left with nothing to dump!

hughjays77

hero member

Activity: 728

Merit: 504

I hope it isnt as clear as mud. Will go check it out

Quote from: rat4 on February 28, 2014, 03:24:09 PM

FAQ have been updated.
Preparing wallet update with graphical indication about pos Wink

ski92

member

Activity: 112

Merit: 10

I can translate OP to Cantonese?

Also how hard is compounded interest to calculate, jesus!
Wallet update should be good.

Hoping this does ok,
anyone want to buy some app coins? LOL

artiface

full member

Activity: 238

Merit: 100

Quote from: hughjays77 on February 28, 2014, 02:58:18 PM

Compound interest is the easy part. Lets see if some one can explain using a practical numerical example.

1) I have a 100,000 BC balance
2) I am lucky[ fulfilling the 8hrs, unlocked reqmt, etc] and get a stake of 10,000 BC

To keep thing,s simple I get no further stake for weeks.

Explain using said numbers what happens to that 10000 BC incl. interest collected, over the period of the stake. Is the period of the stake random as well ?

to get you started 1% pa of 10000 BC is 100 BC per year or 0.28 BC/day in interest.

From the source:

int64 nSubsidy = nCoinAge * COIN_YEAR_REWARD * 33 / (365 * 33 + 8 );

nCoinAge is days. For the age of your coin you get 1% * coinage / days in a year.

So to put in numbers.

You have 100,000 coins that are all 8 hours old and generate a stake. You get 100000 * .01 * .33 / 365 = 0.904109.
You now have 100000.904109

Next time you wait 5 days before you generate a stake.

100000.904109 * .01 * 5 / 365 = 13.69875
Now you have 100014.602859

Next time you wait 90 days
100014.602859 * .01 * 90 / 365 = 246 .611348
Now you have 100261.214207

Next time you wait the rest of the year
100261.214207 * 0.01 * 269.66 /365 = 740.724356
Now you have 101001.938563

Or just a bit over 1% annually.

This will always come out to a bit over 1% annually because the coin age continues to grow until the coins stake. The period they will actually stake is random, but irrelevant because the reward uses coin age. But the incentive to keep your wallet open and generating POS (and therefore securing the network and moving transactions) is that the more frequent they stake, though you get a smaller reward in each interval, the interest will be compounded more often.

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