[ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1675.

artiface

full member

Activity: 238

Merit: 100

Quote from: slavo on February 26, 2014, 01:07:33 AM

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.

tabnk

full member

Activity: 140

Merit: 100

Seriously, I'm missed this boat. NET HASH @ 11GH/s now Sad

.

hashfever

member

Activity: 84

Merit: 10

Quote from: y3804 on February 25, 2014, 11:59:31 PM

Quote from: HerpThyrun on February 25, 2014, 11:57:26 PM

Quote from: y3804 on February 25, 2014, 11:54:27 PM

BE VERY CAREFUL WITH HASHFEVER POOLS

They don't payout. Scam pools?

I had a 100mh/s rig on there. Not anymore.

Same problem, and they tend to disconnect my rigs. Where do you switched? (60mh here)

People say they pay out, so you should be fine. I just read about HashFever here and got very scared (mined more than 30k)..

https://bitcointalksearch.org/topic/app-appcoin-the-digital-currency-for-digital-products-client-update-475160

Alternatives:

Greekpool. Registration closed, unfortunately. (That's where I mine, 1.5Ghz)
Trademybit. Registration also closed.
Scryptominers are good.
Use a P2Pool?

@y3804
https://bitcointalksearch.org/topic/m.5367997

and
https://bitcointalksearch.org/topic/m.5374875
and
https://bitcointalksearch.org/topic/m.5375220

Regards
HashFever

artiface

full member

Activity: 238

Merit: 100

Quote from: Jeezy911 on February 26, 2014, 01:03:27 AM

Quote from: Miner232432 on February 26, 2014, 12:57:40 AM

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

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 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

TrollboxChamp

sr. member

Activity: 462

Merit: 250

Quote from: WalkerLi on February 26, 2014, 01:06:55 AM

Dev, still no POS block as the block explorer, why? Huh

PoW is not done yet.

Jeezy911

sr. member

Activity: 294

Merit: 250

Quote from: Miner232432 on February 26, 2014, 01:07:18 AM

Quote from: Jeezy911 on February 26, 2014, 01:03:27 AM

Quote from: Miner232432 on February 26, 2014, 12:57:40 AM

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

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.

SCryptoMiners

member

Activity: 112

Merit: 10

SCryptoMiners BlackCoin Pool (1.4 gh/s)

http://bc.scryptominers.com

PPLNS (Pay Per Last N Shares) reward system
Round 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.

slavo

hero member

Activity: 784

Merit: 500

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.

Miner232432

full member

Activity: 210

Merit: 100

Quote from: Jeezy911 on February 26, 2014, 01:03:27 AM

Quote from: Miner232432 on February 26, 2014, 12:57:40 AM

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

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

WalkerLi

full member

Activity: 238

Merit: 100

hello world, hello crypto

Dev, still no POS block as the block explorer, why? Huh

jdh015232

hero member

Activity: 756

Merit: 500

Quote from: rsx19 on February 26, 2014, 01:00:55 AM

Quote from: Miner232432 on February 26, 2014, 12:57:40 AM

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

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

Jeezy911

sr. member

Activity: 294

Merit: 250

Quote from: Miner232432 on February 26, 2014, 12:57:40 AM

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

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?

artiface

full member

Activity: 238

Merit: 100

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

How does that work exactly though ? I think that needs to be in the OP.

It has been explained several times in the thread.

Quote from: artiface on February 25, 2014, 08:54:42 PM

Quote from: rsx19 on February 25, 2014, 08:39:30 PM

Quote from: artiface on February 25, 2014, 08:29:54 PM

After 10000 blocks there will be no more mining rewards. From that point all blocks will be generated via proof-of-stake.

Quote

[The] proof-of-stake system is based around the concept of "coin age," a measure of the product of the currency amount held times the amount of time it has been held for. When generating a proof-of-stake block, the user sends some money to themselves, consuming their coin age in exchange for a preset reward. This minting transaction becomes more likely to succeed over time until a valid block is found, generating a new block on the blockchain and a payout for the proving user. This process secures the network and gradually produces new coins over time without consuming significant computational power.

In this coin you coins are eligible to produce 1% stake interest every 8 hours.

so we send coins to oursselves to make 1%? i dont get it

All you have to do is keep your wallet running with coins in it. Coins will automatically attempt to generate stake until they succeed. The staked coins and the newly generated coins will then go to the stake line in your wallet until the stake is confirmed after 520 blocks then they will return to your balance. Any coin that has been in your wallet for more 8 hours will be eligible to generate stake. This process will replace mining and generate 1% interest compounded as much as every 8 hours.

rat4 said 1% nominal interest, but when compounding at 8 hour intervals the real interest rate will be much higher. But you have to have coins in your wallet to stake. And after about 5.5 more days no more coins will be mined so the only way to get coins will be to buy them.

TrollboxChamp

sr. member

Activity: 462

Merit: 250

Quote from: rsx19 on February 26, 2014, 01:00:55 AM

Quote from: Miner232432 on February 26, 2014, 12:57:40 AM

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

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?

If thats how you wanna look at it

rsx19

full member

Activity: 182

Merit: 100

Quote from: Miner232432 on February 26, 2014, 12:57:40 AM

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

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?

Miner232432

full member

Activity: 210

Merit: 100

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

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

SCryptoMiners

member

Activity: 112

Merit: 10

Quote from: TrollboxChamp on February 26, 2014, 12:55:48 AM

Quote from: ?? on ??

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

How does that work exactly though ? I think that needs to be in the OP.

+1

http://en.wikipedia.org/wiki/Proof-of-stake

Thanks for the link Cool

TrollboxChamp

sr. member

Activity: 462

Merit: 250

Quote from: ?? on ??

Quote from: Joerii on February 26, 2014, 12:33:43 AM

Quote from: TrollboxChamp on February 26, 2014, 12:29:32 AM

This coin is gonna blow up once people realize they can mine it just by holding it in their wallet Grin

How does that work exactly though ? I think that needs to be in the OP.

+1

http://en.wikipedia.org/wiki/Proof-of-stake

dokom

newbie

Activity: 41

Merit: 0

https://www.mintpal.com/voting

I've asked them to put Blackcoin for voting and now you can all help get it on mintpal!! Grin

grandMasterHash

newbie

Activity: 38

Merit: 0

CryptQuest Blackcoin Pool

http://bc.cryptoquest.net

Here is the deal:

Our target is to reach 150 active workers and at least 200 Mh/s
Once we hit that, every active miner who stays on the pool for the 24 hours after hitting that benchmark will get zero mining fees FOR LIFE.
We have also DOUBLED our already generous 25 BC block finder reward to 50 BC until when we hit our goal.

Join us and spread the word.

We have updated our wallet and are prepared for the hard fork at block 5000

Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1675. (Read 2509908 times)