Yes, precisly. It will always work out to 7% annual. Regardless of if you can tune more frequent installments. Those more frequent installments will be smaller in amount than the less frequent installments that would be larger in amount.
Great, I'm only staking about 1000 EGC so far - most of my EGC is accumulating on exchanges - but have now started siphoning off into a wallet. I'll get used to the maturation of the staked coins, its working slightly differently to the way XMG works with PoS.
Shame I didn't manage to mine any =)
Hi starmman and EverGreenCoin community,
About 5 days ago, I placed 100 EGC on my CHIP. This morning, it did collect its first instalment toward its 7% annual to the tune of .0677 EGC. This experiment was to test the frequency of installments at current post-PoW conditions, test the hardware component of the forthcoming EGC Solar Staker, and simply to make an observation.
5 days minus 1 for minimum coin staking age is 4 days.
365 days divided by 4 = 91.25
91.25 times .0677 = 6.177625
Here we observe ~0.8% shortfall but I will monitor it for its next reward. 1 sample from what might be 91 occurrences is inadequate. I had done similar experiments previously and the numbers did fall at 7%. Also, my '5 day' estimate is nothing more than an estimate. May have been 4 1/2 days or 5 1/2 days, as I did not document the time.
My point is, there really is no amount that is 'too small' to stake in regards to receiving 7% annual. Now, of course, it would prove little reward to stake 1 EGC for a year and I understand this is the thought starmman was following. But, be that as it may, 7% is always 7%.
Also, never use an exchange as a bank. Exchanges are very attractive targets for hackers, though exchanges do follow very strict security measures. It is safer to store your own EverGreenCoin yourself, and for that matter any cryptocurrency, even if you will not be staking them regularly. Another option is PoSWallet.com where your EverGreenCoin will be grouped with other people's EverGreenCoin, thus having more collective weight and receiving instalments more frequently. Of course, your portion of that instalment will only be 7%. That said, PoSWallet.com is subject to the same risks exchanges are and they do charge small fees. PoSWallet.com does also follow very strict security measures. The fact that they do stake your coins and you receive that reward, as some exchanges are accused of staking your coins and keeping the rewards, should come into ones equation when calculating risk versus reward.