Topic: [ANN] ★★ EBT Coin - Entropybit 100% PoS - Multipool - Bugfix version 4.0.3! ★★ - page 82. (Read 131676 times)

Is anybody interested in making a tutorial about pos minting to put in OP ?

That's the + of that currency so let's talk about it.

A simple thread for noobs like me who wants to POS mint safely without being stoled or anything.

It's the point to advertise I think.

My 2 cents.

Very good article for POS.  Basically like earning interest on a savings/checking account for leaving funds in there.

Any coin I mine that has POS/POW I add a line in my .conf file reservebalance=x (with x being 30% of my balance).  I never move more than 30% back and forth between exchanges, simply because I don't trust them.  Exchanges are great for trading up, but lets face it, they're un-regulated, un-documented, just a guy on a site.  Exchanges have been hacked, downed, same with pools (I lost 230,000 DOGE when doge.cryptopool.it dissappeared).  I like my local wallet and multiple backups.

So basically 30% of my balance is always available for POS interest after 30 days.  Makes for a few extra coins coming in when mining.

The drawback to this...since your wallet is open on your PC and it's not encypted or locked you are susceptible to hijacking.  I can remote hijack your PC, withdraw from your wallet and send to my wallet.  Of course I can also walk up to your house, disable your vehicle alarm and steal your car.

Nothing is 100% sure except death.  Find the balance between being comfortable earning more coins and keeping your local wallet secure.  My BTC LTC and QRK wallets are encrypted, but weaker coins I leave open for POS until I either dump or feel like they're keepers for the long run.

You can wait for the 30 days to pass before unlocking the wallet.

Here is an awesome article on how PoS works: https://cryptocointalk.com/blog/4/entry-19-what-is-proof-of-stake-how-do-i-mint-pos-blocks-work-in-progress/

Hope you don't mind another POS related question: I have my wallet encrypted, and so locked for minting. I have learned how to unlocking it. So the question is, do I have to keep it unlocked the whole time or should I wait for the 30 days to pass and then unlocking it?

Ok, thank you.

It's basically earning interest on the coins you have in your local wallet.  You'll want to transfer the coins from the pool to your wallet and after 30 days in the wallet they will start accruing interest up to 10%.

I'm not sure I understand this POS thing, will I benefit from it while mining on a pool? Sorry from being such a n00b.

I already have a nice stake in EBT, but I'm still mining it because these 1000 coin block rewards aren't going to last forever.

^^^ Very good points, those of us mining right now are smart to be doing so.  Others will jump on the train once it gets on a large exchange, no worries.

Really surprised this coin is falling under the radar.

With all the hype around Mint, people have totally missed EBT. EBT is a much better PoS coin, in my opinion.

Firstly, there's only 250 million coins; not billions and billions. So you know each coin isn't going to fetch just one satoshi on exchanges. Secondly, it's rare. We are almost halfway to the first block halving, and after that EBT is going to be a lot harder to come by. Thirdly, PoS rewards are going to start at the end of the month, and when they do, what do you think is going to happen? Everyone will be rushing to grab as much EBT as they can get their hands on.

Be smart and pay attention to this coin. This one's a dark horse. Most PoS coins have very high quantities; a billion+.

Not EBT.

Hopefully this clears it up for you, 10%!

Proof of Stake explained:
100.00 EBT mature over a 90-day period.
From Day 1 through Day 30, there is no change, but the coins "age" in the background
On Day 30, Your coins become eligible for PoS minting
From Day 31 through Day 90, Your chances of hitting a PoS block increase. After day 90 your chances dont get any better.
When a Stake block is hit the input that was used gets locked for 25 blocks as the POS block matures. It is moved to the stake column and a transaction will appear in your wallet for 10 EBT
After 25 blocks your 100EBT is returned and your 10 EBT is confirmed leaving you with 110 EBT (10% increase)

This coin'll succeed once it hits a decent exchange.

I support the coin absolutly and I'm glad you, the devs, are behind us to bring new stuff.
My advice is to make better communication each day in different places like this topic.
Better communication = better trust = better value !

ok, in fact i was already in when I asked.

Just a question about the pos minting.

how can i know how much I'm gonna mine, i don't get it. Is it proportional to my balance ? and how much % is it fluctuating ?

thanks.

This coin is absolutely NOT a coingen coin, please feel free to check the list on their site.  This coin has a team of 12+ that work on it and will continue to work on it until we hit a big exchange and support it well beyond that.  

Honestly, I think people are waiting to see it hit a large exchange.  It wasn't a coin with some silly name, meme, etc. which often helps attract miners after seeing DOGE, etc. so adoption will not be as fast as others and that is expected.

Regardless, we're not going anywhere and we're going to keep keepin on!

that crypto seem nice, why is the hasrate not growing ?

Is this a coingen coin or something ?

Well the EBT community thanks you for your hard work and i think we know what logo you are voting for as well

Thanks for your kind offer, such appreciate! I started yesterday, so bare with me, the front end is almost finished and I will be able to start implementing the logic very soon. In case I really get stuck I will gratefuly come back to your offer. I am hoping to add more services and stuff when I got the calculator out.

that calculator looks great is that something you are working on independently is there anything we can all do to help to get it out there.

Don't panic, change is underway.