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
Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1579. (Read 2509925 times)
February 28, 2014, 04:39:05 PM
February 28, 2014, 04:37:42 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.
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.
February 28, 2014, 04:34:57 PM
SCryptoMiners Update
We are almost finished sorting out the database, thank you very much for all of your patience.
We are almost finished sorting out the database, thank you very much for all of your patience.
thank you.... does this mean our coins are safe?
Yes coins are safe. You should see your balance increase every few minutes or so for the next hour or two (blocks are taking about a minute to process, some faster some slower than others, hopefully takes less than an hour to finish).
Great job
Seeing my payouts come again February 28, 2014, 04:34:37 PM
FAQ have been updated.
Preparing wallet update with graphical indication about pos
Preparing wallet update with graphical indication about pos
This is terrific news! Thanks for the update
February 28, 2014, 04:24:12 PM
SCryptoMiners Update
We are almost finished sorting out the database, thank you very much for all of your patience.
We are almost finished sorting out the database, thank you very much for all of your patience.
thank you.... does this mean our coins are safe?
Yes coins are safe. You should see your balance increase every few minutes or so for the next hour or two (blocks are taking about a minute to process, some faster some slower than others, hopefully takes less than an hour to finish).
February 28, 2014, 04:24:09 PM
FAQ have been updated.
Preparing wallet update with graphical indication about pos
Preparing wallet update with graphical indication about pos
February 28, 2014, 04:20:18 PM
Are you talking to me? I'm confused. I just wanted to know why someone would still be on here assuming they'd made their dough already. I came to the conclusion that anyone doing so would have an alterior motive; buy rock bottom by slamming the coin as much as possible. Am I right?
It's OK if someone "slam" or "jack to the moon" a coin, as long as this slam/jack is accompanied by a legitimate reason and ppl will easily see if it is valid or not.
February 28, 2014, 04:18:08 PM
Rubbish..if it were only that simple
If you have 100.000 BC you will receive 1000 BC interest in one year. Just keep your wallet open.
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
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
If you have 100.000 BC you will receive 1000 BC interest in one year. Just keep your wallet open.
February 28, 2014, 04:15:07 PM
Did everyone sell yet?!? Still dropping. If you believe so much in this shitcoin, why aren't you buying at these low low prices?!? 
Next shitcoin please.
Next shitcoin please.
February 28, 2014, 04:07:53 PM
Just bought in @888.
Thanks everybody!
Thanks everybody!
You bought 0.03BTC? Lmao. That's nothing.
lol, now comes the dead cat bounce, if you want to hand that bag off, now would be the time.
How much are planning on buying once BC hits your target low? I mean that's the only reason why anyone would still be on here pissing on this coin rather than moving onto the next one.
i find this fun! There are always two sides to every coin right? Had you listened to me or countless others @ 2500....and 2000...and 1500...you would have made a good profit PLUS be able to buy back in @ 25%-50% cheaper price, thus preserving your profit.
So you tell me who actually would have benefited here, you or the "trolls" that would have made you money.
Are you talking to me? I'm confused. I just wanted to know why someone would still be on here assuming they'd made their dough already. I came to the conclusion that anyone doing so would have an alterior motive; buy rock bottom by slamming the coin as much as possible. Am I right?
February 28, 2014, 04:06:47 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
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
If you have 100.000 BC you will receive 1000 BC interest in one year. Just keep your wallet open.
February 28, 2014, 04:03:50 PM
For me personally I feel the whole staking issue / how to stake instructions posted here are nothing but BS. If you want staking to WORK just run the latest version of the wallet,,, THAT'S IT! I never encrypted my wallet or unlocked it or did anything that was suggested in this thread, I was just patient and I received my first stake just a little while ago, its kinda neat! So if your worried about getting your stake, just remember that all good things come to those who wait.
It's all abt patience. I'm an early miner too. From the moment it got launched I was there. I had to wait till this afternoon for a first stake of 0,1... to arrive. The only thing is an open wallet. And if it's encrypted using the passphrase cmd line.
Easy as that.
Exactly! Cheers mate, my stake was 0.1 BC as well. Welcome to the mile high club
February 28, 2014, 04:03:13 PM
SCryptoMiners Update
We are almost finished sorting out the database, thank you very much for all of your patience.
We are almost finished sorting out the database, thank you very much for all of your patience.
Still only received transaction up to block 6224 and missing everything after that.
February 28, 2014, 04:01:41 PM
Please no doom and gloom about this coin failing, i invested what little i had with the hope to make something alittle better then what i had before....
I hear you dude.... Same here12,595 khs - 10,848.910 BC this is about 0,04 BTC day current.
As i was talking before most coins were purchased at ~1000~2000 lvl.
Yesterday was big jump in difficulty because that coin was giving about 0.10 BTC/day for my 3,5khs ring> then some multipools joined and big miners they dumped price.
Or in economy it is cold correction. Low price at beginning is good imo. To high price is killing attention. This coin have only 5days this coin wasn't even pumped.
You should think twice if you are thinking that if you sell now you will get more later becouse if some whale is micro buying BC he will PUMP that coin 3x-4x in seconds.
BC volume is thick many people don't keep BC in exchange they are trying stake.
Coordinated BTC pump with 50BTC capittal can make that price 10x. Now pumpers if they are around i guess some are
for sure they are want your coin at lowest price possible. They are buying it low probably as allways when they start their pump it will be hard to you get back your hard mined BCs.I guess party with price will be started when all coins will be mined and 1% stacks will be only option to release new coins.The whale who is building his position now by buying low.
Eg whale and his group invest 100 BTC they are buying now on low on price 0.0001 they will buy 10% market share
.Then they start manipulating prices up price is rising
many people are joining becouse price is rising best time to start pump is end of minig because people will believe that high demand cause such price rise. Price is skyrocketing low market volume because all are minting new coins will make that scenario even easier.They are pumping +++ the best for BC coin is that when they will go out of market by setting up high sell walls.Dump is another way to go out it is not good when few others whales are around they will just eat his dump and continue with their pump look at Mintcoinchart. How whales batllte are playing
.He will enter to the game and pump then he will dump to scary quick buck investors then pump again.Remember there is no premine so noone will be abble to dump his pump.
Notethat : With a 1% compound interest you can expect 101 million coin count after 1 year and 270 million coins after 50 years.
And rememeber hot coins like BC,Doge,Vercoin are targeted by whales all time they are seeking opportunity to pump the best oportunity for them to buy is now the best time to pump is end of minnig then price can skyrocket and couse big hype. But we will see if i am right.
February 28, 2014, 03:58:53 PM
For me personally I feel the whole staking issue / how to stake instructions posted here are nothing but BS. If you want staking to WORK just run the latest version of the wallet,,, THAT'S IT! I never encrypted my wallet or unlocked it or did anything that was suggested in this thread, I was just patient and I received my first stake just a little while ago, its kinda neat! So if your worried about getting your stake, just remember that all good things come to those who wait.
It's all abt patience. I'm an early miner too. From the moment it got launched I was there. I had to wait till this afternoon for a first stake of 0,1... to arrive. The only thing is an open wallet. And if it's encrypted using the passphrase cmd line.
Easy as that.
February 28, 2014, 03:58:32 PM
SCryptoMiners Update
We are almost finished sorting out the database, thank you very much for all of your patience.
We are almost finished sorting out the database, thank you very much for all of your patience.
Thankk you Scrypto.
February 28, 2014, 03:58:18 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.
e author=artiface link=topic=469640.msg5432488#msg5432488 date=1393616612]
The please phrase the question in an intelligible manner.
When an amount is staked how long will this amount collect interest ?
What does that even mean? As it has been answered many times, coins are eligible to be staked every 8 hours. Once staked the time is reset and can then stake again 8 hours later. How long will it collect interest? It can collect interest forever, eligible every 8 hours.
[/quote]
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.
e author=artiface link=topic=469640.msg5432488#msg5432488 date=1393616612]
No wonder BC is falling like a rock !!. Still no proper to the bolded questions especially #6. You obviously dont understand what a stake does 
though you pretend to do
No one owes you an explanation you ass clown. You are the one who should do your own research, POS has been explained over and over, and you still want to be spoonfed.
here you go. once again.
1. Untouched balances are eligible to stake after 8 hours. When they will actually stake is a matter of random chance, just like finding a PoW block. But the chance improves the more coins you have and the older the coins are.
2. Eventually it is most likely that they will stake, you will have to be very unlucky not to.
3. read # 1 & 2 again.
4. read # 1 & 2 again.
5. read # 1 & 2 again.
6. Your question makes no sense. Once you coins generate stake, they are added to your balance and are the eligible to stake again after 8 hours old.
7. Per annum
8. No
9. Yes - if you unlock them, no if you keep them locked.
10. No
though you pretend to doPrices could go to 100 satoshi or 10000 sat
The answers from the Dev will make all the difference :
The mandatory questions to the developer are:
1) When do untouched balances stake [days] ?
2) Will all wallets with untouched balances stake ?
3) If the answer to quest#2 is NO then which qualifying wallets will stake?
4) Is the qualification by random selection ?
5) If not all qualified wallets stake, what proportion of the 100,000,000 coins will stake ?
6) When an amount is staked how long will this amount collect interest ?
7) Is the stake interest rate 1% per annum, per 8 hours, etc, etc ?
8. Will locked wallets stake ?
9) Will encrypted wallets stake ?
10) Will unopened wallets stake ?
WARNING: The developer has a duty to clearly outline the POS parameters of his COIN
The answers from the Dev will make all the difference :
The mandatory questions to the developer are:
1) When do untouched balances stake [days] ?
2) Will all wallets with untouched balances stake ?
3) If the answer to quest#2 is NO then which qualifying wallets will stake?
4) Is the qualification by random selection ?
5) If not all qualified wallets stake, what proportion of the 100,000,000 coins will stake ?
6) When an amount is staked how long will this amount collect interest ?
7) Is the stake interest rate 1% per annum, per 8 hours, etc, etc ?
8. Will locked wallets stake ?
9) Will encrypted wallets stake ?
10) Will unopened wallets stake ?
WARNING: The developer has a duty to clearly outline the POS parameters of his COIN
No one owes you an explanation you ass clown. You are the one who should do your own research, POS has been explained over and over, and you still want to be spoonfed.
here you go. once again.
1. Untouched balances are eligible to stake after 8 hours. When they will actually stake is a matter of random chance, just like finding a PoW block. But the chance improves the more coins you have and the older the coins are.
2. Eventually it is most likely that they will stake, you will have to be very unlucky not to.
3. read # 1 & 2 again.
4. read # 1 & 2 again.
5. read # 1 & 2 again.
6. Your question makes no sense. Once you coins generate stake, they are added to your balance and are the eligible to stake again after 8 hours old.
7. Per annum
8. No
9. Yes - if you unlock them, no if you keep them locked.
10. No
The please phrase the question in an intelligible manner.
When an amount is staked how long will this amount collect interest ?
What does that even mean? As it has been answered many times, coins are eligible to be staked every 8 hours. Once staked the time is reset and can then stake again 8 hours later. How long will it collect interest? It can collect interest forever, eligible every 8 hours.
[/quote]
February 28, 2014, 03:52:37 PM
SCryptoMiners Update
We are almost finished sorting out the database, thank you very much for all of your patience.
We are almost finished sorting out the database, thank you very much for all of your patience.
nice.. i see the site back up.. however I dont think my ballance can be right.. thats about where it was last night.. and after 8 hours of mining or so.. it should be higher. even taking in account the higher difficulty earlier, those numbers are WAY OFF.
edit: i see you are still working on database, so ignore this for now.
February 28, 2014, 03:48:08 PM
Since block 5000 i got 14 confirmed POS payouts between 0.01 and 0.21 over several hours, ~60000 stackable.
mining since diff 0, never had any issue with missing coins or shit, all wallet versions and downloads worked well, win.32 wallet even on win7.64 fine and i even closed it
dev is satoshi, he created a quick very slow inflating and "dump secure" backup for dropping bitcoin, coop with wesley snipes who want buy now all coins cheap and just let 1 coin at all exchanges pegged to 1btc/500$ ?
got it, ty
mining since diff 0, never had any issue with missing coins or shit, all wallet versions and downloads worked well, win.32 wallet even on win7.64 fine and i even closed it
dev is satoshi, he created a quick very slow inflating and "dump secure" backup for dropping bitcoin, coop with wesley snipes who want buy now all coins cheap and just let 1 coin at all exchanges pegged to 1btc/500$ ?
got it, ty
February 28, 2014, 03:47:53 PM
For me personally I feel the whole staking issue / how to stake instructions posted here are nothing but BS. If you want staking to WORK just run the latest version of the wallet,,, THAT'S IT! I never encrypted my wallet or unlocked it or did anything that was suggested in this thread, I was just patient and I received my first stake just a little while ago, its kinda neat! So if your worried about getting your stake, just remember that all good things come to those who wait.
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