Topic: [ANN] Orbitcoin v1.6.0.0 ~ NeoScrypt ~ Green Stake ~ 4 Years Old - page 115. (Read 201256 times)

Yes, so if someone buys 1000 ORB from an exchange, it's in their interests to send 20 ORB to themselves, 50 times? Rather than just leave it as a 1000 lump?

Every single input delivers 1 ORB while staking. No matter if it's 1000 ORB or 20 ORB. Those inputs smaller than 20 ORB cannot stake unless they are merged with up to 10 other smaller inputs of the same address to meet or exceed 20 ORB together.

Can you clarify, does this mean that with a large balance ORB will automatically stake smaller amounts, or do we need to split up the balance manually by sending multiple smaller amounts to ourselves?

Mad Max is correct. Every input up for staking is hashed every second and checked against target which depends on a number of factors including the PoS difficulty and input weight in coin days (amount * age). If hash < target, you have mined a PoS block.

There is one important difference between ORB featuring fixed PoS rewards and other altcoins featuring variable PoS rewards. For example, you have 1000 coins and want to stake them for profit continuously. In case of non-ORB altcoins, you can launch your wallet, say, once a month, synchronise, generate a single big stake quickly and shut down the wallet until the next month. You are not motivated to keep it online 24/7 and support the network. In case of ORB, doing the same means losing most of the potential profit. First of all, you want to split these 1000 ORB into smaller parts like 20 to 50 ORB each, so they can stake independently. Second, you want them to stake as soon as possible, and the best way is to keep your wallet online 24/7. You produce a number of PoS blocks in the process rather than a single one, also support the network by relaying blocks, transactions, messages, etc.

I have have numerous requests to rate ORB for its valuation and target price.

I will have an opinion and findings soon.

http://cryptoanalytics.trade/

Thank you so much for the explanation!  That really helped my understanding of how POS works.  It sounds to me that to make any kind of money from POS, you need a really good amount invested into that specific coin. 1 BTC to me right now is a lot.

Hi

It can start staking after 1 day (from date/time of incoming transaction including previous PoS block). Not possible generate PoS for inputs < 1 day old.
But you can not say exactly how much time it will take to generate PoS after it.
It like classic PoW solomining with GPU:
- it depends on the current difficulty (which in turn depends on the amount and activity of the "competitors" - other miners)
- your mining power (but with PoS your mining power not megahashes of mining hardware but amount of coins-days you accumulate in your wallet)
- time which you spend at mining (but with PoS it is not time of GPU/ASIC work, but time while you running wallet online with "old" coins staking)
- your luck

Next formula not correct but for simplification of understanding:

amount of PoS blocks you will get = (mining/staking power) х (mining/staking time) / PoS difficulty  

Mining(staking) power usually called "weight" and counted in coin-days for each input transaction individually: (amount of coin in input) x (age - 1)
So inputs with age < 1 day have zero weight (formula gives negative values but program account all < 1 day inputs as 0 weight) and not staking at all.
For example incoming 25 ORB transaction 1 week old have weight = 25 х (7-1) = 150 coin-days, increasing continuously with time until generate PoS finally.
After successful PoS generation coin age reset to zero (so weight = 0 too) and process starts from beginning.
Maximum possible weight reached after 16 days, so maximum weight = input size x 15

But still it is not possible calculate time when individual input generate PoS - because it is a stochastic process and heavily dependent on luck (as a solo Mining): sometimes very "lucky" inputs generates PoS blocks only few hours after reaching minimum age (currently 1 days for ORB, initial value before hard-fork was 5 days) with weight only 1-5 coin-days, sometimes very "unlucky" transaction staking few weeks(growing up to weight of hundreds or even several thousands coin-days) before get PoS .

But if you have many inputs staking at same time process became more predictable (like with solomining: if you try solomine hight diff coin with single GPU - you can find block in first day if lucky but can not find any in few years if unlucky, but if you mine with huge mining farm or combine power of individual miners in pool you generate predictable average amount of blocks per day or week).

For example - i personally actively mining ORB PoS  blocks with wallet containing about ~ 15000 coins (sliced to 20-50 coins blocks, so i have few hundreds of inputs staking in parallel) - with current difficulty it generate > 30 PoS blocks each day.
So to be able generate about 1 block per hour (as average - it will vary) you will need about 10k-12k coins + time about 10-15 days (to accumulate average weight. First blocks will be on 6th day, but initially at very low rate ramping up slowly in next days in proportons of total weight accumulated)

But it true at current difficulty only - if diff goes up you get less blocks per day (with same amount of coins and accumulated weight) and vice versa because total amount of blocks(generated by all miners combined) per day is fixed.

P.S.
ghostlander how about if you add/correct this my post above and link it as ORB PoS mining FAQ/how-to from first post?

Hello all

I want to make sure I understand this POS system.  20 coins generates 1 coin after staking for 5 days or is that when the coins can start staking?  About how many coins would I need to receive 1 coin every hour?

Thanks

I liked the wallet, especially the transaction time seems fast, which suits our needs.
However, you may need a better website and services to promote your coin. I've been working a lot lately for our coin - MemoryCoin, designing a new website.
We also own a digital advertisement agency here in Turkey - a new startup, which have a lot of corporate customers, already and I'm working there as a project manager.
In conclusion, I have multiple jobs, have enormous workload but if you need any promotional help, drop me a message

Thanks, there is a thread for the ORB merchant adoption:

ORB stores services and merchants, spend ORB

For a limited time, we opened ORB payments in our gold and bullion store - Coaex: https://www.coaex.com
This may be extended indefinitely, depending on community's interest in our products and services.

Regards,
Coaex Support Team

The Staking Bonanza is over officially. Hope you've had a good time with it. The network has switched to 33% PoW blocks and 67% PoS blocks delivering 1 ORB each. There are 1.53M ORBs in circulation currently. 1.24M to be distributed over the next 28 months (2.36 years). The remaining 1M to be generated over 35 years until the block reward halves below 0.000001 ORB and the network becomes driven by transaction fees for both PoW and PoS blocks. The total number of ORBs ever produced shall be 3.77 million.

Statistics for the 2nd part of Staking Bonanza: 232.22K ORB generated, average of 2.32 ORB per block, duration 43.42 days (46.30 days expected).

Orbitcoin can enter in Bittrex for 2 BTC.

I sent them a message and they answered the following:

 Hi,

Thanks for contacting us about your coin. We look for coins that have high community demand, innovations to cryto-coin technology, or a contribution to science or humanity. Given the demand for coin launches, we limit ourselves to only a handful a week. Launching is free and at our discretion. If you'd like to guarantee the launch of your coin and get additional marketing in our platform, we offer the option to spotlight your coin for 2.0 BTC.

To help speed up the process of deploying your coin, we'd like the following information:
* Coin Name
* Coin trading symbol
* Launch Date (past or future)
* Github Link
* Exchanges you are currently on
* Official blockchain explorer
* What is your TxFee for a transaction
* What do you believe your min trade size should be
* A png image for your coin with a transparent background

We are mindful of scams, copyright violations, and offensive subjects and reserve the right to refuse any coin on our platform.

But some ppls get their ORBs deposits to COINS-E fine last days (post about it on cryptocointalk). So seems coins-e upgraded to 1.4.2 already.
But my 2 deposit is NOT credited for unknown reason ...
I think probable reason if when upgrade to 1.4.2 and start new wallet.dat may forgot to import (or something went wrong with import) old private keys from 1.2 wallet.
So clients who generate new deposit addresses recently (after wallet upgrade) get their deposits fine. But old clients like me (with deposits addresses generated in 1.2 wallet) get problems.

I write ticket about it, and surprisingly get relative fast reaction to it: about 1 or 2 answers per day (early this year i also wait weeks for tickets or even not answered at all, but now support reaction is much better).
After support check my deposits by block explorer they move ORB to "Coins under maintenance" again until resolve this problem.

Try to write ticket too. Seems they hired new person to support staff.

Take care with that exchange. I opened a ticket about ORB, pointing out that the network forked at 417k, and they seemed to be on the old version, so my deposit was never going to arrive. That was 5 months ago. As of today I am still waiting for a response.


... aaaand there we go.

edit: I just logged in to check, and it's still not credited. 314080 confirms.

Try to enter in https://bittrex.com/ 

Yes, they resume ORB trade.
BUT seems they forgot update wallet to latest (1.4.2.x) version - deposits/withdrawals actually not working.

ORB can be traded on Coins-e: https://www.coins-e.com/exchange/ORB_BTC/

Here is a nice review I did for ORBIT COIN..This is a lovely coin! I need to learn to sue the coin control soon.   http://bitbillions.net/2014/06/24/altcoin-reviews-orbit-coin-is-spinning-pos-coins-out-of-orbit/

Hi everyone !
 
We are humbly starting a pool to mine Orbitcoins, at this address :
 
www.dnb.io

We are hosted in Paris, France. Our dedicated servers are carefully maintained in a datacenter. We use variable difficulty to avoid bandwidth overload, and we use the highly efficient and secure NOMP stratum server.
 
Feel free to join us !
Cheeeerz ;-)
 
David
 
We have been up for a few days already, 1987 blocks have been found so far, and counting !