Topic: [ANN] Genstake [GEN] [QT WALLET UPDATE] [STAKE-MINE] [SCRYPT] [FULL POW/POS] - page 19. (Read 37104 times)

Dev, any news with this address ?

If you've encrypted your wallet be sure to unlock it for staking each time you open it or it wont work.

Not really. It increased the number of coins that will be produced by 1m coins, but the 15m was always a high estimate that respected the possibility of a large percentage of POS blocks over POW blocks. In a 50% POW / 50% POS the actual maximum with 5 coins in POW is 13140000 coins - so there's still a lot of headroom in the case of imbalances.

Why would there be an imbalance? Well it's likely over the years that people with relatively high hash will jump on and off the POW network, and speeding up and slowing down POW Block creation. This fluctuation will be random and the only way I could account for it was to leave maxcoins a relatively large percentage too high. There is a mathematical limit to the number of coins that can possibly be produced, and that number is probably much less than 15 million, but in the unlikely event that it isn't there's a 15m hardcap anyway.

Spanish translation done: https://bitcointalksearch.org/topic/ann-genstake-gen-pow-aumentado-x5-stake-mine-scrypt-powpos-1083707

Did the increase in POW reward to 5 coins increase total coin supply?  Sorry for the Noob question.

I also think it's time we start pursuing an exchange so that miners looking to recover costs and people looking to get in without mining can.

https://cryptotrade.exchange/trade/GEN/BTC never updated their wallet, so they are on their own fork. Please don't attempt to trade there, at least until they update. I sent them a message yesterday but they never responded.

Thanks guys;)

Alright, I really think it's time we got some marketing going and got ourselves out there a little more. I'm offering 20 GEN per account (100 follower minimum) for the first 50 to tweet a shoutout about us. Please have @Genstake $GEN in the tweet so I can see it and follow @Genstake so I can follow back and DM you a thanks and get your Genstake address.

Again, this is per account (tweeting more is greatly appreciated!) and for the first 50 only. Let's see if we can get some people in the twitter-verse talking.

I'm also offering 50 GEN for OP translations. PM me first please to avoid duplication and further instructions.

active dev a+ in my book

TOL please install a open donation address @ OP for development etc.

Sweet, thanks oc! You rock.

Sure, it's turned off all the time already and i've setup autopayments to my personal wallet too:

 "stake" : 0.00000000,

{
    "reserve" : true,
    "amount" : 999999.00000000
}

Thanks for clearing that up oc. I appreciate it.

Is there any chance you could please have the coins your mining and keeping for yourself withdrawn to a personal wallet and turn off staking on the pool again? I know you had it off yesterday but I think the setting got reset when I had everyone update. It will help as there's a stigma growing that you might have an unfair advantage staking directly from the pool itself.

Thanks.

Also, everyone, don't forget to follow us on twitter now:

https://twitter.com/Genstake

I see that too, and I was not intentionally staking the wallet, there were so many forks at at launch that I reinstalled the daemon quite a few times and redownloaded the blockchain to get it sync again. I then posted a message on the pool that the coin forks a lot and posted here that I'll close the pool and asked to be removed from the OP which was done by ThinkingOutLoud in a couple of minutes. I wanted to stop stratum as soon as the nicehash orders were timed out (my were running too) but simply forget about it and a day later or so I saw the dilemma, I must have forgot to setup a reserve balance at some point after the reinstalls. However I had a conversation with a few folks and they were quite delighted that the coins were in the pool wallet and not somewhere else as they were trusting me not to dump.
 
Just think about it: If everyone would have simply withdrawn their coins right after they've mined them, I would not have any coins to stake, right ?  

TBH there would not have been a big difference if I have simply moved my own mined coins into a separate wallet from the pool right after mining  and staked them there, still not one of the staked coins has been moved or sold in any place and by the way moneysupply has almost doubled by now and quite a few coins were lost in the fork(s) too.

I knew someday someone will come and say "You should not tweet about adding a coin to an exchange.. You've probably created the coin yourself and that is why you promote them.." As said before, I'm mining myself a lot and if a coin is not on a (good) exchange after a (long) POW phase why not sending out a tweet about adding it if the coin has future ? As you've already seen I'm not twittering about a lot of coins so I don't think its a big problem but I will think about twittering twice the next time

I think it's interesting that there's so many connections, and so much hash and nobody is talking about Genstake....

And none of the hash is at the official pools either...


Hmm... ... Is everyone trying to keep a secret?

  8)gen = 根

Someone did manage to stake after a few hours. Difficulty is still crazy high, but it should slowly start coming down now.

thanks a lot for your explanation

The coins in your wallet don't sit in a solid block. As you use your coins, the coins in your wallet break down over time, in the form of change. Each time you stake, your coins are split in half, and each 'chunk' of your coins has the opportunity to stake on the network. Over time though the chunks get so small that they have trouble getting enough weight to stake at all on the network, so the wallet combines them with other old coins to get them staking again.

So when coins get so old that the wallet decides they can't stake anymore, it will combine them with other coins, up to the amount that the 'stake combiner' is set to. Originally it was set to 1000, but I reduced it to 100 so that coins would still remain reasonably broken up and you wouldn't lose so much weight when you did stake.

The other effect is that the wallet will stop splitting your coins in half when you stake once they get below 100 coins if they are 'old'.  The design helps create a happy medium in your wallet where the coins are staking regularly.

what means ''Reduce stake combiner to 100 coins'' ?

I suppose it's worth pointing out that the staking difficulty will not drop until someone hits it. And since I took 3 hours of age away from everyone's current coins and dropped the weight 100x... well... it could be a couple weeks before someone gets lucky and hits that stake block to bring the difficulty down.

And by then? Well, in two weeks 50k coins are going to be mined. So get mining. It's anyone's coin again.