Topic: [ANN] Genstake [GEN] [QT WALLET UPDATE] [STAKE-MINE] [SCRYPT] [FULL POW/POS] - page 20. (Read 37135 times)

Smooth transition everyone. It's a miner's game for the moment. Mine away!

Anyone looking for a point to jump in, block 10,000 is coming in about 20 minutes!

So what will happen after block 10,000?

POW block rewards will increase 5x.
Stakers will lose 3 hours of age AND their weight will drop 100x.

That means until the staking difficulty drops to match everyone's stake weight, miners will be getting a vast majority of the blocks.

Follow us now on twitter!

https://twitter.com/Genstake

Yeah. Should start 5 coins per block in about 2 1/2 hours from now.

Speaking of, everyone, if you haven't already, make sure you are running the new 1.0.2 wallet. I still see some stragglers on the network that haven't updated. If you're running anything but 1.0.2 then after block 10000 the 1.0.2 network will disconnect you.

So from block 10 000 there will be POW reward per block 5?
Sounds better than 1 coin per block.

I have to agree that I think it's unethical to stake someone else's coins. But on a technical level, there's nothing I can do to stop it, not with this coin, or any other coin. As far as the network is concerned, all wallets are created equal, and if people don't like what he's doing they don't have to mine from his pool.

With that said, his pool isn't even listed as an official pool anymore, by his own request. I highly encourage people to mine at the other fantastic pools I have listed in the OP. They are all confirmed up to date and also very reputable, well regarded pools. Heck, Suchpool had a pool up for us almost immediately after launch, and there was no announcement or warning.

https://www.suchpool.pw/gen/
https://www.ipominer.com/
http://gen.binpool.com

As for suprnova, Genstake is not listed on the main site, not listed in the op, and he tweeted about it once, at launch, and that's it. And yet there's 25 pool workers there. People have chosen to use that pool, and that's fine. It's a free world. One thing I can say is that he's only got a quarter of the hash on the network at his pool, so other people are mining elsewhere. Maybe they're solo mining. Maybe there's even be a private pool going. I don't know.

One thing I can tell you is that competition is going to beef up a bit after block 10000 when the POW block rewards increase 5x. I'm interested to see how things go after that.

Let me make it clear :

1% of pool fee is not enough ?
He use it to stake the coin is not right.
Ex : if all miner mining coin at his pool he will get 1% of total coin + the stacking at begin, that is huge amount of coins , not just couple coins.
As far now i see he only promote or tweet about couple coins , that he maybe or i may guess created a coin to pump.
Look back couple coin he added and tweet about exchange.
Pool operator should or will not do something like that.

That is my feeling, so take it easy , no harm to him but I am just saying what I am really seeing now.

Im dont see anything wrong if a pool operator gives an opinion that he likes a coin. Pool operators also have the right to mine coins if they like. I DO feel its very unethical if a pool operator uses unclaimed coins to stake as THAT is a MAJOR advantage as that pool operators wallet will get near all POS blocks. Not saying OC did anything, because I dont know. just adding my 2 cents.

Vegas

There is no mistake from OC
I rather mine at minerpool, suchpool and kinda slow now from ispace.
But OC )
What kind of pool that promoted a coin ?

I'll be the first to admit it's been a bumpy start, but I've set a course for the coin that I believe will heal the damage and put it back on track.

Because the coins in Genstake generate over a long period of time, these initial bumps in the road aren't as harmful as they would have been in a POS coin with a limited POW run.

ktfutura, I appreciate your input and your concern, but if you truly do think that this coin has no future under the current circumstances, I kindly ask you to move on. I welcome you, and everyone, to take part in Genstake moving forward, but attacking ocminer and getting bent out of shape about his coins isn't helping anyone.

As for the current arrangement of top holders, well that's all up for grabs again. From tomorrow on, while stakers have to compete with every other coinholder for coins, miners will only have to compete with eachother. Now that 20% of the entire coinbase is going to be released through POW, that's a big deal, and if stakers want to maintain their positions over time then they're going to need to jump in and mine too from time to time, otherwise other dedicated miners are going to rise to the top as they gain weight on the staking network with their mined coins.

I can't see the future, and I don't know what will happen. Anyone that doesn't see themselves happy with the direction this coin is taking from here on in is welcome to move on to something else.

As for ocminer, I consider it a happy accident of circumstances. Ultimately, the reason ocminer got those coins is because he runs one of the most highly respected pools in altcoins, and people have chosen to continue mining with him even after he requested that I drop his pool as an official pool. When Genstake was forking and I wasn't around, he was one of the people that stepped in to keep the coin together. I've seen him do the same on countless other coins. I don't think there was any malicious intent on his part and I don't think he was trying to gain some unfair advantage over others. This coin is different, and circumstances transpired that gave him a large stake in the coin, and since then he has manipulated them in such a way that he no longer has any advantage from them on the network. I highly respect that from him. But the point I'm trying to make here is that things happened, and fate put those coins in his hands, and given all that he's done over the years and his integrity, frankly, I'm honored that he has a significant stake in Genstake.

Anyway, that's my 0.02 cents.

Distribution has Changed a lot since everyone started staking and as already said i will be holding, not selling, so the Situation imho  could be worse. For other big wallets you dont know who is behind them, i have no interest dumping even one of my mined coins yet.

Dev this is a real shame. I see you have put out some updates but this coin distribution has no hope.

I suggest you launch a new coin.

No salvaging this one.

@BinPool - update

I mined some myself after launch and I am holding them, but for the sake of freedom i'll burn some if that frees your mind

is ocminer going to burn the 10's of thousands of coins he staked or not?

Ok thanks.

Thanks OC, you're awesome!



Sorry for the late reply, the block explorer is being run by lin0sspice

Updated