[ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 162.

mishax1

legendary

Activity: 2898

Merit: 1017

Quote from: Subtuppel on July 22, 2015, 04:30:31 PM

you've got to wonder what made some mod remove 25 pages of ancient posts...

interesting map (copied from this chinese thread, live version here:

http://www.btc38.com/uploadfile/2015/0706/20150706115320126.jpg

That must be the sum of all nodes ever existed, here is the current map - https://bitinfocharts.com/blackcoin/nodes-active

Subtuppel

hero member

Activity: 700

Merit: 500

you've got to wonder what made some mod remove 25 pages of ancient posts...

interesting map (copied from this chinese thread, live version here:

Wh1teKn1ght

sr. member

Activity: 339

Merit: 251

Quote from: blackstat on July 15, 2015, 10:05:51 AM

Quote from: Wh1teKn1ght on July 13, 2015, 08:45:47 PM

Quote from: Subtuppel on July 13, 2015, 04:49:45 PM

Quote from: Wh1teKn1ght on July 13, 2015, 10:48:57 AM

with POS v2, does it matter how many blocks your coins are split into, for staking purposes? Or does it just matter how many total coins are in the wallet (for all addresses in the wallet). Some of my coin blocks shown in coin control are very small amounts whereas most others are larger (~70 coins or so). Just wondering if the size of the coin block matters...Thanks!

I think your answer and explanations are in this thread: https://reddit.com/r/blackcoin/comments/2zfasy/new_staking_reward_record_12814_blk_for_1_block/

How this will be different in PoS 3.0: https://reddit.com/r/blackcoin/comments/3cfvaa/static_pos_reward_is_coming/

Generally all posts by /u/blackstat in our subreddit are worth reading if you are interested in the staking mechanismns.

HTH.

Thanks for the reply. I've looked through the above and still am not entirely sure whether it matters how many inputs the coins are split into for probability of staking a block reward. I'm hoping the stake probability calculation just looks at the total # of coins in the wallet without considering how many inputs/addresses the coins are split into.

The probability of signing a block and getting the block reward does only depend on your total (mature) balance. More precisely by the ratio of your balance and the balance of the network.

If you are looking for the probability of finding the first one, it does not matter whether your balance is in one unspent output or in many outputs. At the moment when your sign the first block your total mature balance and therefore your weight is going to be zero for the next 9 hours if you had everything in one output or your weight is reduced only by the size of the signing output (many outputs case). In the second case you are able to sign other blocks in the coming next 9 hours. With more outputs your are able to sign more block given the same balance. The difference is very high if your balance is high and it is vanishing for smaller balance.

If you want to know in which case you will receive a higher reward under PoS v2: It does not matter! With coinage based reward (PoS v2) you get the same reward for 1 block or for 100 blocks together (if you neglect fees).

At the current protocol, I would suggest you to let your outputs like they are. Merging them together will destroy the coinage and thus your potential reward.

BADASSvzgWg5dsowfRzBGNavWggU9tBnJG

Thank you very much for the reply. This clears it up for me and was what I was hoping to hear

blackstat

newbie

Activity: 3

Merit: 0

Quote from: Wh1teKn1ght on July 13, 2015, 08:45:47 PM

Quote from: Subtuppel on July 13, 2015, 04:49:45 PM

Quote from: Wh1teKn1ght on July 13, 2015, 10:48:57 AM

with POS v2, does it matter how many blocks your coins are split into, for staking purposes? Or does it just matter how many total coins are in the wallet (for all addresses in the wallet). Some of my coin blocks shown in coin control are very small amounts whereas most others are larger (~70 coins or so). Just wondering if the size of the coin block matters...Thanks!

I think your answer and explanations are in this thread: https://reddit.com/r/blackcoin/comments/2zfasy/new_staking_reward_record_12814_blk_for_1_block/

How this will be different in PoS 3.0: https://reddit.com/r/blackcoin/comments/3cfvaa/static_pos_reward_is_coming/

Generally all posts by /u/blackstat in our subreddit are worth reading if you are interested in the staking mechanismns.

HTH.

Thanks for the reply. I've looked through the above and still am not entirely sure whether it matters how many inputs the coins are split into for probability of staking a block reward. I'm hoping the stake probability calculation just looks at the total # of coins in the wallet without considering how many inputs/addresses the coins are split into.

The probability of signing a block and getting the block reward does only depend on your total (mature) balance. More precisely by the ratio of your balance and the balance of the network.

If you are looking for the probability of finding the first one, it does not matter whether your balance is in one unspent output or in many outputs. At the moment when your sign the first block your total mature balance and therefore your weight is going to be zero for the next 9 hours if you had everything in one output or your weight is reduced only by the size of the signing output (many outputs case). In the second case you are able to sign other blocks in the coming next 9 hours. With more outputs your are able to sign more block given the same balance. The difference is very high if your balance is high and it is vanishing for smaller balance.

If you want to know in which case you will receive a higher reward under PoS v2: It does not matter! With coinage based reward (PoS v2) you get the same reward for 1 block or for 100 blocks together (if you neglect fees).

At the current protocol, I would suggest you to let your outputs like they are. Merging them together will destroy the coinage and thus your potential reward.

BADASSvzgWg5dsowfRzBGNavWggU9tBnJG

Wh1teKn1ght

sr. member

Activity: 339

Merit: 251

Quote from: Subtuppel on July 13, 2015, 04:49:45 PM

Quote from: Wh1teKn1ght on July 13, 2015, 10:48:57 AM

with POS v2, does it matter how many blocks your coins are split into, for staking purposes? Or does it just matter how many total coins are in the wallet (for all addresses in the wallet). Some of my coin blocks shown in coin control are very small amounts whereas most others are larger (~70 coins or so). Just wondering if the size of the coin block matters...Thanks!

I think your answer and explanations are in this thread: https://reddit.com/r/blackcoin/comments/2zfasy/new_staking_reward_record_12814_blk_for_1_block/

How this will be different in PoS 3.0: https://reddit.com/r/blackcoin/comments/3cfvaa/static_pos_reward_is_coming/

Generally all posts by /u/blackstat in our subreddit are worth reading if you are interested in the staking mechanismns.

HTH.

Thanks for the reply. I've looked through the above and still am not entirely sure whether it matters how many inputs the coins are split into for probability of staking a block reward. I'm hoping the stake probability calculation just looks at the total # of coins in the wallet without considering how many inputs/addresses the coins are split into.

Subtuppel

hero member

Activity: 700

Merit: 500

Quote from: Wh1teKn1ght on July 13, 2015, 10:48:57 AM

with POS v2, does it matter how many blocks your coins are split into, for staking purposes? Or does it just matter how many total coins are in the wallet (for all addresses in the wallet). Some of my coin blocks shown in coin control are very small amounts whereas most others are larger (~70 coins or so). Just wondering if the size of the coin block matters...Thanks!

I think your answer and explanations are in this thread: https://reddit.com/r/blackcoin/comments/2zfasy/new_staking_reward_record_12814_blk_for_1_block/

How this will be different in PoS 3.0: https://reddit.com/r/blackcoin/comments/3cfvaa/static_pos_reward_is_coming/

Generally all posts by /u/blackstat in our subreddit are worth reading if you are interested in the staking mechanismns.

HTH.

Wh1teKn1ght

sr. member

Activity: 339

Merit: 251

with POS v2, does it matter how many blocks your coins are split into, for staking purposes? Or does it just matter how many total coins are in the wallet (for all addresses in the wallet). Some of my coin blocks shown in coin control are very small amounts whereas most others are larger (~70 coins or so). Just wondering if the size of the coin block matters...Thanks!

fmasta

full member

Activity: 254

Merit: 102

If "pos 3.o" was a game-changer, like many seem to hope, and like it was announced,

People from other coin ecosystems or devs would already have noticed it, and probably joined.
just by a glitch on github.

There is no such thing so... don't expect too much.

Subtuppel

hero member

Activity: 700

Merit: 500

Quote from: cidman on July 09, 2015, 11:29:56 AM

Quote from: LightningFury on July 09, 2015, 12:42:13 AM

Quote from: cidman on July 08, 2015, 09:13:56 PM

Quote from: Subtuppel on July 08, 2015, 01:11:36 PM

Quote from: cidman on July 07, 2015, 06:32:28 PM

so i got about 5k BLK in my wallet that is synced encrypted and unlocked and been open for about 2 weeks
the lowest mint time i have seen is 110 days and it bounces nonstop from there to about 220 days
is the wallet broken? cuz im about to take my coins and just sell them if it wont mint at all in the next year

That is absolutely not normal. I'd expect the average time until you find a block to be about 2 days (in that range, depends on the total network weight, of course) with 5k BLK. What wallet version do you use?

qt wallet 5.3.2 the one from the website blackcoin.co

1.1.2.1 is last

5.3.2 never seen Huh

yea sry thats the qt version wallet version is 1.1.2-35-g55a46ff
its the one u get when u download off the website

sorry for the late reply. You best try to contact rat4 via IRC (freenode, #blackcoin or webchat in your browser) or report via GitHub. You should have the "debug.log" file (Windows: %appdata%/blackcoin, Linux: usually ~/.blackcoin) ready, zip it with password and e.g. upload it to some filehoster like zippyshare (good d/l speed for free users). If it is too big (mine is currently 7GB, it will shrink to 1% when you zip it though) just close the client, delete the logfile, open client + unlock for staking an wait a few hours). Don't make the log available in public, it will contain sensible information.

KK99

full member

Activity: 149

Merit: 100

https://www.reddit.com/r/blackcoin/comments/3cxgeo/compiling_blackcoin_for_windows_via_gitian/

If anyone could help me compile with gitian, there's a small reward.

energ

full member

Activity: 156

Merit: 100

Quote from: Tyke on July 03, 2015, 07:08:36 PM

Who thinks the front cover looks amazing? Cheesy

just realized today, amazing living colors, great job

cidman

full member

Activity: 162

Merit: 102

Quote from: LightningFury on July 09, 2015, 12:42:13 AM

Quote from: cidman on July 08, 2015, 09:13:56 PM

Quote from: Subtuppel on July 08, 2015, 01:11:36 PM

Quote from: cidman on July 07, 2015, 06:32:28 PM

so i got about 5k BLK in my wallet that is synced encrypted and unlocked and been open for about 2 weeks
the lowest mint time i have seen is 110 days and it bounces nonstop from there to about 220 days
is the wallet broken? cuz im about to take my coins and just sell them if it wont mint at all in the next year

That is absolutely not normal. I'd expect the average time until you find a block to be about 2 days (in that range, depends on the total network weight, of course) with 5k BLK. What wallet version do you use?

qt wallet 5.3.2 the one from the website blackcoin.co

1.1.2.1 is last

5.3.2 never seen Huh

yea sry thats the qt version wallet version is 1.1.2-35-g55a46ff
its the one u get when u download off the website

LightningFury

hero member

Activity: 687

Merit: 509

Quote from: cidman on July 08, 2015, 09:13:56 PM

Quote from: Subtuppel on July 08, 2015, 01:11:36 PM

Quote from: cidman on July 07, 2015, 06:32:28 PM

so i got about 5k BLK in my wallet that is synced encrypted and unlocked and been open for about 2 weeks
the lowest mint time i have seen is 110 days and it bounces nonstop from there to about 220 days
is the wallet broken? cuz im about to take my coins and just sell them if it wont mint at all in the next year

That is absolutely not normal. I'd expect the average time until you find a block to be about 2 days (in that range, depends on the total network weight, of course) with 5k BLK. What wallet version do you use?

qt wallet 5.3.2 the one from the website blackcoin.co

1.1.2.1 is last

5.3.2 never seen Huh

cidman

full member

Activity: 162

Merit: 102

Quote from: Subtuppel on July 08, 2015, 01:11:36 PM

Quote from: cidman on July 07, 2015, 06:32:28 PM

so i got about 5k BLK in my wallet that is synced encrypted and unlocked and been open for about 2 weeks
the lowest mint time i have seen is 110 days and it bounces nonstop from there to about 220 days
is the wallet broken? cuz im about to take my coins and just sell them if it wont mint at all in the next year

That is absolutely not normal. I'd expect the average time until you find a block to be about 2 days (in that range, depends on the total network weight, of course) with 5k BLK. What wallet version do you use?

qt wallet 5.3.2 the one from the website blackcoin.co

Subtuppel

hero member

Activity: 700

Merit: 500

Quote from: cidman on July 07, 2015, 06:32:28 PM

so i got about 5k BLK in my wallet that is synced encrypted and unlocked and been open for about 2 weeks
the lowest mint time i have seen is 110 days and it bounces nonstop from there to about 220 days
is the wallet broken? cuz im about to take my coins and just sell them if it wont mint at all in the next year

That is absolutely not normal. I'd expect the average time until you find a block to be about 2 days (in that range, depends on the total network weight, of course) with 5k BLK. What wallet version do you use?

Quote from: intrader on July 08, 2015, 05:40:59 AM

Is there any lightweight wallet ? I have blk at paperwallet which take years for me if using wallet Qt to take it sycn

There are several webwallets, but as far as i know not even the Coinkite one allows to import keys at the moment. It will speed it up significantly if you use the bootstrap file (up tp block 697k) from our subreddit (link in my sig, button in the upper right of the subreddit. It will still not be lightning fast since BLK used scrypt in the beginning).

Also the sync speed is most likely going to be much much better with the new PoS 3.0 wallet (soon to come, see the progress at github).

intrader

hero member

Activity: 659

Merit: 502

Is there any lightweight wallet ? I have blk at paperwallet which take years for me if using wallet Qt to take it sycn

cidman

full member

Activity: 162

Merit: 102

so i got about 5k BLK in my wallet that is synced encrypted and unlocked and been open for about 2 weeks
the lowest mint time i have seen is 110 days and it bounces nonstop from there to about 220 days
is the wallet broken? cuz im about to take my coins and just sell them if it wont mint at all in the next year

Decentradical

sr. member

Activity: 602

Merit: 250

Quote from: ShopemNL on June 24, 2015, 10:34:11 AM

Soon for blackcoin

How's dem BLK node coming along?

Subtuppel

hero member

Activity: 700

Merit: 500

Static POS reward is coming!

thanks to our reddit user blackstat for this informative post!

Quote from: blackstat

The latest commit on the POS v3 branch contains a change of the block reward. The coming block reward will not depend on coinage anymore. Instead there will be a constant reward of 1.5 BLK + fees.

A static block reward will have following implications:

The staking reward will be time dependent. The more you time stake the higher the totall reward. The expected reward will be will proportional to the total balance and the time of staking.
A static reward leads to a decreasing inflation rate and a decreasing reward rate. (The decline of the inflation and the reward rate is very slow for the chosen parameters. In a previous post I’ve derived a formula for the modification of the block reward as a function of the block height to keep the inflation and the reward rate stable. The correction term was very small such that it differs from the implementation of Rat4 only on the long-term.)
At the current stage the block reward of 1.5 BLK results in an inflation rate of about 0.95%.
The change is very good for those who support the blockchain through continuous staking and bad for exchanges with millions of coins who can at the current stage receive rewards of 10,000 BLK and above for 5 minutes of staking.
The staking rate is at the moment at about 20%. Since in the coming protocol the nearly 1% inflation will be distributed only to the fraction of the shareholders the reward rate will be above 1%. At the current staking rate this means up to nearly 5% expected reward/interest rate for continuous staking! This is a large increase in the incentive of staking.
It has to be considered now that total reward depends on the number of UTXOs. For example: Someone with 1,000,000 BLK kept in only 1 UTXO will get not more than 4 blocks per day, since the coins have to mature nearly 8 hours. The wallet will by default split the staking transaction into 2 outputs if the UTXO is younger than 8 days and the number will increase over time. But it can take maybe weeks until it is close to the full potential. In general, the more UTXOs one has the more reward one can get since the relative weight consumption is small. On the other hand there is an upper limit which depends on the total balance and the converges to that limit is fast. So one doesn’t have to create unnecessary many UTXOs and overload the staking device. I’ve done the calculation and came up with a formula which tells how many UTXO one need to get arbitrarily close to the optimum (infinity many UTXOs case) given the balance weight. I can write more about that if anyone is interested.

Donations to: BADASSvzgWg5dsowfRzBGNavWggU9tBnJG

sasha35625

hero member

Activity: 589

Merit: 507

Blackcoin is a proud member of top20 cryptocurrencies Index Coinoindex.com, which can be traded at Poloniex exchange now.

Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 162. (Read 2510369 times)