[ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 599.

Daedelus

hero member

Activity: 574

Merit: 500

Quote from: germsite on April 23, 2014, 07:38:25 AM

Quote from: troiste on April 23, 2014, 07:30:18 AM

Quote from: germsite on April 23, 2014, 07:28:00 AM

Quote from: Daedelus on April 23, 2014, 07:20:34 AM

Quote from: Subtuppel on April 23, 2014, 07:17:26 AM

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%.

Ah, thats sounds better

but what you mean by "compound interest"? Can you give an example?

If you keep your wallet open permanently, you earn a fraction of your annual 1% each day ( 1/365th to be precise ). So for every day that passes, you are earning 1/365th of your original wallet's value plus interest already earned.

If you start with 100,000 BC today, tomorrow you will earn : ( 100,000 * .01 ) / 365 = 2.7BC

So tomorrow your balance will be 100,002.7

You will then earn interest on that balance, which is : ( 100,002.7 * .01 ) / 365 = 2.74BC

So your balance will increase to : 100,005.44

And so on

So you get 1% from opening up you wallet (inflation element) and an additional 1.005% from staking constantly for a year (((.01/365)+1)^365) -1 = 1.0050029%

(N.B. the staking period appears to be 8 hours so 365*3 = 1095 should probably be used instead of 365 to get a true rate, it will be the same in the end though)

Where does the BC for the staking come from? Fees?

c-cex

legendary

Activity: 1498

Merit: 1001

CryptoCurrency EXchange: https://c-cex.com

Welcome to trade BlackCoin at https://c-cex.com exchange!

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Also it is tradable to any other coin we have (70+):

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We have very responsive support team available in Skype, via support tickets and chat on exchange.

Sincerely, https://c-cex.com exchange!

Subtuppel

hero member

Activity: 700

Merit: 500

Quote from: germsite on April 23, 2014, 07:28:00 AM

Quote from: Daedelus on April 23, 2014, 07:20:34 AM

Quote from: Subtuppel on April 23, 2014, 07:17:26 AM

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%.

whoops, ok my bad.
I never considered not being online (since the wallet is on a 99,99% uptime high security server i am using for other stuff). To me it would make more sense the way i (mis-)understood it though, since i understood it as a reward for securing the network.

troiste

full member

Activity: 140

Merit: 100

Quote from: germsite on April 23, 2014, 07:38:25 AM

Quote from: troiste on April 23, 2014, 07:30:18 AM

Quote from: germsite on April 23, 2014, 07:28:00 AM

Quote from: Daedelus on April 23, 2014, 07:20:34 AM

Quote from: Subtuppel on April 23, 2014, 07:17:26 AM

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%.

Ah, thats sounds better

but what you mean by "compound interest"? Can you give an example?

If you keep your wallet open permanently, you earn a fraction of your annual 1% each day ( 1/365th to be precise ). So for every day that passes, you are earning 1/365th of your original wallet's value plus interest already earned.

If you start with 100,000 BC today, tomorrow you will earn : ( 100,000 * .01 ) / 365 = 2.7BC

So tomorrow your balance will be 100,002.7

You will then earn interest on that balance, which is : ( 100,002.7 * .01 ) / 365 = 2.74BC

So your balance will increase to : 100,005.44

And so on

Thanks sounds clear

warr1979

hero member

Activity: 564

Merit: 500

IMO..... This pre planes pump is the first mistake that black coin has made. I hate the ups and downs and manipulation like everyone else but for theoat part this coin has fallen higher after each dump. This coin needs to keep developing and getting the adaptation as a currency. I think we need to worry about things we can control instead of focusing on the minute to minute price. Trust me I hate it to but don't you think the manpulaters read this as well?? This see that there winning and getting into people's heads and are not going to stop. If this coin is what we think it can be then it will be by the hard work these guys are putting in. Did the manipulation say 3-4 weeks ago matter now?? NO why?? Compare prices!! So IMO just keep developing and making a great coin and a great community and stop focusing on people playing with your emotions.

germsite

sr. member

Activity: 1009

Merit: 261

Quote from: troiste on April 23, 2014, 07:30:18 AM

Quote from: germsite on April 23, 2014, 07:28:00 AM

Quote from: Daedelus on April 23, 2014, 07:20:34 AM

Quote from: Subtuppel on April 23, 2014, 07:17:26 AM

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%.

Ah, thats sounds better

but what you mean by "compound interest"? Can you give an example?

If you keep your wallet open permanently, you earn a fraction of your annual 1% each day ( 1/365th to be precise ). So for every day that passes, you are earning 1/365th of your original wallet's value plus interest already earned.

If you start with 100,000 BC today, tomorrow you will earn : ( 100,000 * .01 ) / 365 = 2.7BC

So tomorrow your balance will be 100,002.7

You will then earn interest on that balance, which is : ( 100,002.7 * .01 ) / 365 = 2.74BC

So your balance will increase to : 100,005.44

And so on

troiste

full member

Activity: 140

Merit: 100

for what I read here:

http://altcoingiveaways.com/index.php?topic=1127.0

and here:

http://altcoinauthority.com/2014/02/blackcoin-pos-on-steroids/

Its every 8 hours.

But how is this compound interest calculated?

Daedelus

hero member

Activity: 574

Merit: 500

Quote from: germsite on April 23, 2014, 07:28:00 AM

Quote from: Daedelus on April 23, 2014, 07:20:34 AM

Quote from: Subtuppel on April 23, 2014, 07:17:26 AM

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%.

Ah, thank you.

At what rate is the interest compounded (hourly/daily)?

troiste

full member

Activity: 140

Merit: 100

Quote from: germsite on April 23, 2014, 07:28:00 AM

Quote from: Daedelus on April 23, 2014, 07:20:34 AM

Quote from: Subtuppel on April 23, 2014, 07:17:26 AM

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%.

Ah, thats sounds better

but what you mean by "compound interest"? Can you give an example?

germsite

sr. member

Activity: 1009

Merit: 261

Quote from: Daedelus on April 23, 2014, 07:20:34 AM

Quote from: Subtuppel on April 23, 2014, 07:17:26 AM

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

No, you will earn your 1% regardless of whether or not you have your wallet open for the full year. You will receive the interest once you re-open your wallet.

The advantage of having your wallet open all the time is that you help secure the network, and also earn compound interest on your 1%.

Degolep

full member

Activity: 210

Merit: 100

Quote from: dzimbeck on April 23, 2014, 05:34:21 AM

OK Blackcoin commercial... what do you think? Pass it out to others if ya like it!

https://www.youtube.com/watch?v=T-13PX0IDPY[/size][/b]

I like "In soviet Russia, Blackcoin mine you."

lololol

troiste

full member

Activity: 140

Merit: 100

Quote from: Subtuppel on April 23, 2014, 07:17:26 AM

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

Are you sure about this? For PPC, I only opened my wallet 4 or 5 times last year and I got the reward this year... so means BlackCoin works differently?

"every now and then", by this you mean you will get the reward daily or something? not just once in a year?

IconicExpert

full member

Activity: 168

Merit: 100

Black Whale Community Pump (4/25/2014 - 8 PM EST - NYC Time)

The BlackCoin community are once again about to make history!!! Never in the history of crypto has a community rallied together to pump the price of a currency in an attempt to break the control of unscrupulous whales!!! A global pump with hundreds of people working in unison will be nothing less than epic!!! We will become the "Black Whale".

On Friday 4/25/2013 - 8 PM EST - NYC Time we will begin buying massive quantities of BlackCoin to stop the blatant manipulation of some holders who are purposely suppressing the growth of BlackCoin. This community will pump over 300 BTC into the BlackCoin ecosystem to consume the low priced sell walls.

We as a community will have to pledge to each other to follow some basic guidelines.

1.) You will only trade on Mintpal @ 4/25/2013 - 8 PM EST - NYC Time.
2.) You will buy at market price and not buy on dips.
3.) You will not use this opportunity to sell off the coins you already hold.
4.) You will not sell any of the coins you buy for 3 days after the community pump.

I would like to formally ask the multi-pool operators to hold off buying coins for the next two days and join us on this epic event!!!

Daedelus

hero member

Activity: 574

Merit: 500

Quote from: Subtuppel on April 23, 2014, 07:17:26 AM

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

So you would only get the 1% if you ran your client constantly for a year? Presumably, staking is measured by the hour not the day?

And if you miss 'your share' as you weren't staking, does it get distributed to the others that were? Or does the 1% inflation decrease for that year?

Thanks

Djinou94

legendary

Activity: 1036

Merit: 1000

http://www.followthecoin.com/blackcoin-supports-dogecon-first-coin-to-ever-support-a-conference/

Subtuppel

hero member

Activity: 700

Merit: 500

Quote from: troiste on April 23, 2014, 07:11:30 AM

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

You get the reward for staking, so you need to be online and the wallet has the be unlocked at least for staking.
The rewards come in "every now and then", you will receive
coincount / (365*100)
average per day.

rbauer85

sr. member

Activity: 462

Merit: 250

CAT.EX Exchange

Quote from: coinpredator(return) on April 22, 2014, 10:49:16 PM

The coolest thing about this system, and that for example:

Realise that has a sale wall 45000@50BTC if we take a good bite, about 10-15 BTC, the wall will disappear like magic, and if the sell wall keeps steady, the buyers will eat it until we see the bones whale. People need to lose their fear of buying into walls! If we do something like that we do not need spend all our ammunition in a single wall, we will give good bites and if the wall is false it will be removed.

I get rid of sell walls by eating everything right up to the wall. The wall owner usually puts more little amounts, and I just eat those up again. Repeat a few times and they get scared and take down the wall.

Daedelus

hero member

Activity: 574

Merit: 500

Quote from: dzimbeck on April 23, 2014, 06:42:30 AM

Quote from: JamesR1 on April 23, 2014, 06:39:49 AM

Quote from: dzimbeck on April 23, 2014, 06:34:40 AM

Quote from: JamesR1 on April 23, 2014, 06:30:08 AM

Quote from: dzimbeck on April 23, 2014, 06:07:58 AM

... on that note any editors who want to tweak this a bit i can send the premiere pro files and project file and you can have at it. I can even throw down on some stock footage if people know what they want. The sound file is in audacity... I think I saved the audacity file with the layers (fingers crossed). Anyways... my software wont write itself. Back to work Zimbeck!

Thanks for going to the trouble.
As an idea it could be debated as to whether an advert would need or want to be that aggressive in its suggestive nature, or in fact as a promotional video it might be completely right. In some regards perhaps its a question as to whether its a hard line promotional video being made or an infomercial.

I wouldn't have minded a play with it, but I'm playing with other ideas. Which I'd like to see get finished then *ignored/*slammed (I guess)

I think people could be a little more considerate about how they are criticising people's efforts as it will also put people off.

Otherwise we will have to club together again and just buy some usb sitcks put a wallet with 10bc on it and have them given away at the oscars, or other events. More likely technology conferences in goody bags. But that all costs us. On top of the Doge SF conference that we are sponsoring, which is a brilliant idea.

Btw, there was a group buy for an asic miner. I don't know if you guys know, you should try the irc. Africanos I think was doing that..

Dont worry mate I have something that can make BC pass Bitcoin. My first version of the program is for Bitcoin but the second will be for Black. I will need c++ devs... totally willing to pay unless rat4 wants it. Its going to make Bitcoin world changing too. So excited about my secret project. i only talk about it on this forum. Im about 1-2 weeks away from finishing. Of course there is also compiling *ugh*... the unofficial release so people can review the code and have fun with it and other things.

Well I hope it works out. And I look forward to seeing it done. I guess at least the guys here are warming you up for the reality of any criticism you may also receive.

Hahaha on the hacked up draft of a commercial YES. On my software... you guys are gonna flip. Every coin is gonna flip. IT will allow for instant cross platform decentralized exchange of cash coins etc. Trusting of untrustworthy parties, unhackable accounts, ability for chinese to fund with cash, paypal without chargebacks. I am not going into much detail because I want to make it a surprise. But yeah its the thing crypto is waiting for basically.

I am aware of two projects enabling atomic cross chain transactions, one is being tested for release today (proof of concept was in march) and two for trustless escrows. I am keen to see what you have come up with Grin

Do you have a provisional date for beta launch?

troiste

full member

Activity: 140

Merit: 100

Quote from: troiste on April 23, 2014, 04:53:43 AM

Question, about this POS thing, lets say you download the BlackCoin wallet, transfer some funds to it, open it until the chain is fully downloaded and then you close it for 1 year.

One year later will this wallet get 1% reward? Or are there any constraints?

Thanks

Anyone?

ScottAllyn

full member

Activity: 236

Merit: 100

¿ʇɐɥʍ

Quote from: tommyj1 on April 23, 2014, 06:57:32 AM

Quote from: Ashdrake on April 23, 2014, 06:50:28 AM

Just curious, what website or platform you folks use to monitor the order depth on mintpal bc/btc pair. Mintpal one only shows roughly 50 buys and 50 sells in either direction, but is there somethign else that has more data and is more detailed?
Regards

https://cryptrader.com/#MintPal-BC-BTC-tab-4

CryptoTrader shows the same extremely limited depth that MintPal does. It's barely useful, IMO.

Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 599. (Read 2510382 times)