Took 2 months before i saw any stake. Hope it doesnt take that long for second stake.
come on u didnt know u need to have wallet open in minting mode to claim POS rewards
if u did find that enlightenment before u would have minted multiple times already
i cant do more than spread a link to how POS work from time to time
No, untill I read that previous link, I thought all you had to do was sync-up periodically.
Im still confused about why the wallet has to be open for so long, it's not like it's mining or using any resources or anything.
I use to think POS was a fixed % and all you had to do was collect it like a traditional bank where you have deposits.
Since the deposits are in the block-chain, I thought all I had to do was sync-up to collect the interest.
Since my wallet is on my laptop, I only periodically turn it on, and I don't leave it on when im not using it, so the wallet usually only had time to sync-up before I shut the laptop down.
I downloaded a new wallet to my work machine which stays online all the time, and I finally got it synced up. Next job is to figure out best way to move coins. Easiest way would be to simply send them to the new address, but I guess that resets the age of the coins... From what I have read, there is a DAT file you can copy from one machine to another, but I haven't found that file yet or given it a try. I was kinda worried about making a mistake and loosing the coins.
Needless to say, I have never tried POS coins before. Ive been around for a while, but all I have done in the past 2 years is mine/sell.
Everything is very simple.
Your run wallet and then synchronize with the network, click unlock for mining and then you keep your wallet open and you will get to your share POS.
This is called POS mining.
If you keep your wallet in a mode POS mining 24 hours a day, then your income will be slightly larger than the short-run your purse.
POS is not that much different from POW as lot people believe
active wallets who mint are protecting the network
in fact ur wallet is really involved in a competition to mint a block
and calculating hashes to do so (same as POW would do)
the only difference to POW is its not scaleable with computing power a normal CPU singlecore is enough
u can only increase ur chance by have more and older coins
but that dont change the fact u have to win the competition for a block to get ur POS rewards
(each day around 720 times someone can successful claim his POS rewards and mint a block)
minting blocks and earning rewards is not directly connected
because the rewards deepens on the age of involved coin piles
so people who mint often have just a small advantage in earnings because their coins are younger and generate less rewards
but the point i try to explain is only have old coins isnt winning a cometition to mint a block
u need to have ur wallet open for some time
i suggest once or twice each month for one or two days for small medium sized wallets
and 24/7 for big wallets (~10000 DMD and bigger)
because then compound really starts to make sence