Wonder if they could change the the confirmations from 50 to 10.
Would it make the structure more like bitcoin if the POS stake amount halved every few years or so..
Topic: [ANN][1000 SYNC] Proof of Stake now run by BLOCKCHAIN DEVELOPMENT COMPANY - page 359. (Read 816010 times)
May 26, 2014, 12:55:02 AM
May 26, 2014, 12:45:20 AM
Am i the only one panic buying here?
I have reach my limit of what i can invest in this coin otherwise i would be buying more. I am having a hard time staying disciplined and not spending more. If I oculd get my 1.6 from BTC arbs back I would throw all of that in here.
May 26, 2014, 12:38:57 AM
Am i the only one panic buying here?
May 26, 2014, 12:20:40 AM
This is a huge misconception with all PoS coins in existence. There is always a softcap in this case with sync its 1000 via pow and it can but may not ever stake to 10k. Calling it false advertising isn't correct, it would be extremely rare of any PoS coin to hit the hardcap. People move coins too much for that.
I only say false advertisement just because a lot of people will think there will only be 1000 coins in existence ever. It is not the best phrase to use because but it gets the point across.
May 26, 2014, 12:01:54 AM
This is a huge misconception with all PoS coins in existence. There is always a softcap in this case with sync its 1000 via pow and it can but may not ever stake to 10k. Calling it false advertising isn't correct, it would be extremely rare of any PoS coin to hit the hardcap. People move coins too much for that.
May 25, 2014, 11:56:05 PM
MsCollec could you add to the OP that there is 10,000 max coin limit. This way there will not be misinformation or speculation of how this will work. It also will not look like false advertisement. Since the only mention of amount of coins is 1,000 coins.
May 25, 2014, 11:53:44 PM
SO POS is at 100%....I did see a mention of it several pages back and thought it was a joke or FUD. I cannot see how that would work with my fixed exchange idea or Blue Chip Investment Marketing plan[rarity, 1% interest, etc]
1) What was the rational for this decision ?
2) Is it 100% pa ad infinitum ?
i.e 2,048,000 coins after 10years assuming POS paid yearly
or 43,454,666 coins after 10years assuming POS paid daily
The amount of coins will end up somewhere in between.
1) What was the rational for this decision ?
2) Is it 100% pa ad infinitum ?
i.e 2,048,000 coins after 10years assuming POS paid yearly
or 43,454,666 coins after 10years assuming POS paid daily
The amount of coins will end up somewhere in between.
It is coded to have a max coin of 10,000 total coins. He said he did this to try and get the speed of POS going faster because we have such a low coin count. The theory was this was part of the reason for slow POS. Before it was going to take something like 235 years to reach 10,000 now it will be around 3. (do not really feel like calculating compounding interest tight now) I also apologies for snapping at your post earlier just have been getting irritated by how many people do not even try to look at the thread and figure it out on their own. You did bring up some good ideas.
May 25, 2014, 11:47:38 PM
SO POS is at 100%....I did see a mention of it several pages back and thought it was a joke or FUD. I cannot see how that would work with my fixed exchange idea or Blue Chip Investment Marketing plan[rarity, 1% interest, etc]
1) What was the rational for this decision ?
2) Is it 100% pa ad infinitum ?
i.e 2,048,000 coins after 10years assuming POS paid yearly
or 43,454,666 coins after 10years assuming POS paid daily
The amount of coins will end up somewhere in between.
1) What was the rational for this decision ?
2) Is it 100% pa ad infinitum ?
i.e 2,048,000 coins after 10years assuming POS paid yearly
or 43,454,666 coins after 10years assuming POS paid daily
The amount of coins will end up somewhere in between.
May 25, 2014, 11:45:48 PM
Whats the minimum time for coin maturity to stake please?
50 confirmation for a coin to mature
6 hours minimum stake
30 days maximum
Check the OP for more information.
Thanks for that.
My coins are confirmed in my wallet, they are over 6 hours old and my wallet is encrypted and unlocked,
Should the symbol for staking now be blue??
Also when I went to bed last night my wallet was synced and up to date but this morning when I woke it wasn't synced anymore, so I closed it down opened it up again and it re synced. Would that maybe have an issue with it not staking?
Sorry for all the questions I just want to do my bit for the club!!
There was a wallet update this morning my time USA. So make sure you update to the new wallet. The link is posted on the first page.(Last I checked it was the picture) Try that and if it gets stuck then close and wait a min or 2 and re open. If this does not work then go lower on the fist page I think it is post two and it will give instructions to try and help get it to sync. I had to back up my wallet and delete everything to do with sync coin and then get the new wallet again and load the back up. Hopefully you do not have to do this. Let us know if you get it to work or have any more questions.
May 25, 2014, 11:25:25 PM
Just want to confirm with my experiences in Sync.
1. The confirmations before it can stake is not more than 40.
(I have 2 cases start to stake at 40 confirmations. I guess 1 confirmation is enough actually.)
2. The time it will start to stake should be 6 hours or lesser than 10 hours 41 minutes.
(My nearest stake after deposit is 10 hours 41 minutes.
3. The minimum Sync that will start to stake should be more than 0.00004961, but I don't know the number yet.)
(I have a 0.00004961 deposit from mint, with 65 confirmations and 20 hours but not staking. Other deposits are working well.)
4. Even though the stake icon in green and shows "Expected time to earn reward is 1 minute.", you will still have to wait AT LEAST 1 more block if you are VERY LUCKY.
(It will need a lot of blocks more after start to staking usually.)
1. The confirmations before it can stake is not more than 40.
(I have 2 cases start to stake at 40 confirmations. I guess 1 confirmation is enough actually.)
2. The time it will start to stake should be 6 hours or lesser than 10 hours 41 minutes.
(My nearest stake after deposit is 10 hours 41 minutes.
3. The minimum Sync that will start to stake should be more than 0.00004961, but I don't know the number yet.)
(I have a 0.00004961 deposit from mint, with 65 confirmations and 20 hours but not staking. Other deposits are working well.)
4. Even though the stake icon in green and shows "Expected time to earn reward is 1 minute.", you will still have to wait AT LEAST 1 more block if you are VERY LUCKY.
(It will need a lot of blocks more after start to staking usually.)
May 25, 2014, 11:20:01 PM
Whats the minimum time for coin maturity to stake please?
50 confirmation for a coin to mature
6 hours minimum stake
30 days maximum
Check the OP for more information.
Thanks for that.
My coins are confirmed in my wallet, they are over 6 hours old and my wallet is encrypted and unlocked,
Should the symbol for staking now be blue??
Also when I went to bed last night my wallet was synced and up to date but this morning when I woke it wasn't synced anymore, so I closed it down opened it up again and it re synced. Would that maybe have an issue with it not staking?
Sorry for all the questions I just want to do my bit for the club!!
May 25, 2014, 11:15:09 PM
Whats the minimum time for coin maturity to stake please?
50 confirmation for a coin to mature
6 hours minimum stake
30 days maximum
Check the OP for more information.
May 25, 2014, 11:05:41 PM
Whats the minimum time for coin maturity to stake please?
May 25, 2014, 10:56:26 PM
I have a serious question for all of you demanding the developer keep the premine coins visible. I have not seen anywhere in the OP that premine will be used for marketing of the coin. As far as I am concern this is his payment for taking the time to work on this coin prelaunch and currently. He has spent plenty of time and deserve to be paid for his creation. He does not work for us so being rude to him will not do you any favours.
May 25, 2014, 10:50:17 PM
1) We have a honest Developer who communicates frequently & effectively. DONE
2) The premine is intact and publicly visible. CONFIRMED
Devs wallet http://explorer.synclub.net/address/SacPhjv5bUbHCQe2RuJ5NNVZy6RD3bQqsn
2) The wallet issue will be sorted 100% within 3-5days. NOT CONFIRMED
3) The ZeroCoin features are to expanded. NOT CONFIRMED
4) I propose a link via a 3rd party to a VISA/MASTERCARD. PROPOSAL*
5) Marketing as a BlueChip investment vehicle is made a focus. IMMEDIATE START
6) Build a private Federal Reserve for SYNC by fixing the exchange Rate to Bitcoin**
2) The premine is intact and publicly visible. CONFIRMED
Devs wallet http://explorer.synclub.net/address/SacPhjv5bUbHCQe2RuJ5NNVZy6RD3bQqsn
2) The wallet issue will be sorted 100% within 3-5days. NOT CONFIRMED
3) The ZeroCoin features are to expanded. NOT CONFIRMED
4) I propose a link via a 3rd party to a VISA/MASTERCARD. PROPOSAL*
5) Marketing as a BlueChip investment vehicle is made a focus. IMMEDIATE START
6) Build a private Federal Reserve for SYNC by fixing the exchange Rate to Bitcoin**
I really wanna hear more about 5 and 6..
May 25, 2014, 10:50:03 PM
May 25, 2014, 10:46:44 PM
1) We have a honest Developer who communicates frequently & effectively. DONE
2) The premine is intact and publicly visible. CONFIRMED
Devs wallet http://explorer.synclub.net/address/SacPhjv5bUbHCQe2RuJ5NNVZy6RD3bQqsn
2) The wallet issue will be sorted 100% within 3-5days. NOT CONFIRMED
3) The ZeroCoin features are to expanded. NOT CONFIRMED
4) I propose a link via a 3rd party to a VISA/MASTERCARD. PROPOSAL*
5) Marketing as a BlueChip investment vehicle is made a focus. IMMEDIATE START
6) Build a private Federal Reserve for SYNC by fixing the exchange Rate to Bitcoin**
2) The premine is intact and publicly visible. CONFIRMED
Devs wallet http://explorer.synclub.net/address/SacPhjv5bUbHCQe2RuJ5NNVZy6RD3bQqsn
2) The wallet issue will be sorted 100% within 3-5days. NOT CONFIRMED
3) The ZeroCoin features are to expanded. NOT CONFIRMED
4) I propose a link via a 3rd party to a VISA/MASTERCARD. PROPOSAL*
5) Marketing as a BlueChip investment vehicle is made a focus. IMMEDIATE START
6) Build a private Federal Reserve for SYNC by fixing the exchange Rate to Bitcoin**
May 25, 2014, 10:43:48 PM
I did everything mentioned on post#2 and it worked but it seems to be stuck on block 8313.
The reason i ask is because i made a coin transfer before i switch to the new wallet and it never showed up in my wallet yet?!?!
Help?
The reason i ask is because i made a coin transfer before i switch to the new wallet and it never showed up in my wallet yet?!?!
Help?
May 25, 2014, 10:30:50 PM
I transferred in more Sync from mintpal and for most of the day my coins have been "immature". They started staking again about 10 minutes ago on their own.
Your wallet needs to be on for staking. I believe the wallet link in OP is the most current wallet. last block was 8313.
Thanks!Your wallet needs to be on for staking. I believe the wallet link in OP is the most current wallet. last block was 8313.
So I just need to wait? That's cool. If it starts staking, will it just automatically give me the "x mined" transactions? Does yours say that it's immature even though it's staking?
Min coin age is 6 hours.
That means they will stake after MINIMUM 6 hours in the wallet.
You need your wallet unlocked to stake.
But coins will still age with a locked wallet.
My experience is simply open the wallet once every few days, unlock it for an hour or 2, and you should get stakes.
Have already received stakes on sync.
Main thing now is let DEV speed up confirmation times.
http://www.reactiongifs.us/wp-content/uploads/2013/04/youre_awesome_jensen_ackles.gif
*LIQUIDITY - The Dev for a fee can easily setup up a virtual or phyiscal visa/mastercard for SYNC users. That card is funded with real US$ by selling SYNC premine and charging the user approx 10% per annum. The SYNC end user had the benefit of quick liquidity while his SYNC is held in escrow at 1% whilst keeping any capital gains. The details can structured in several ways. Target date Aug 1st
I especially like this idea
If somebody could do this with every. other. altcoin in existence it'll expedite the integration of those currencies into mainstream currency, rather than fiat>usd>coinbase btc with bank fee and coinbase fee and a week>transfer to market with tx fees with upwards of 2 hours>trade around 0.1% fee>lose even more money transferring it to wallet and even more tx fees and maturity period>cry. This was my first experience with cryptocurrency (dogecoin pfff I know but I don't know I still love doge) and needless to say I was not happy.If we can streamline the process in which people can get this currency, and advertise this like dogecoin, then maybe 10-20btc can easily be a reality, I'm thinking upwards of 50btc. But as for now, focus on getting the basics down
I'm rooting for you, dev team
edit: minor caveat, the premine should be used for bounties and other stuff, not just that, but the general sentiment I agree with
2) The premine is intact and publicly visible. NOT CONFIRMED
this and this? Or are you talking about something else? As far as I can tell it's true to the story told of 10 premine and 0 for the next hundred blocks or so
May 25, 2014, 10:28:24 PM
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