Topic: [ANNOUNCE] paccoin a new SHA256D coin is being introduced - page 59. (Read 136555 times)

The question I have hearing a lot lately is their coins are not staking, or that they do, and then get orphaned.

First point, Proof of Stake takes 30 days to occur .
Second Point an older coin stakes before a newer coin.
Lets say someone hasn't used their paccoin wallet in a long time, like a year.
They turn on their wallet, and it starts staking like crazy. Its because their coins have a greater coin age, they stake first.
Now you may see your wallet having nothing but orphans. This may be concerning to you, but its normal. If a coin orphans, it simply will try to stake again. Once it stakes it will take another 30 days before it will stake again.

Another way of looking at it is total deposits. You might deposit a million paccoins in your wallet on the first of the month. For all intents and purposes, I call this a coin, although it is a million coins.  After 30 days you will receive a proof of stake based on the million coins. so it could be around 100,000 coins or so. and then the coin age is destroyed and you now have 1.1 million coins starting all over. After another month you'll receive about 110,000 coins and so on.

The concept of decentralization is that the network decides who gets the block reward and who doesn't. No one including me has any say on how the proof of stake reward is given.

So if you see your proof of stake orphan, don't worry, it will attempt to stake again.

Website
https://paccoin.net/

BLOCK EXPLORER
http://paccoinexplorer.com/

US BLOCK EXPLORER
http://paccoinexplorer.us:3001/

Discord
http://discord.me/pac

Facebook
https://www.facebook.com/PacCoinnet-Developers-154089945202759/
https://www.facebook.com/groups/923244864518299/

Steemit
https://steemit.com/@saul.wolf

Reddit
https://www.reddit.com/r/paccoin/

Twitter
https://twitter.com/Paccoinofficial

Instagram
https://www.instagram.com/pac_coin/
https://www.instagram.com/pac_announcement

Let me understand...how can Paccoin survive the swap if Cryptopia will do it for us and Yobit does not allow any withdraw?

So the reason this happened is you were staking on a fork. To understand what a fork is think of a tree. It starts as one trunk, then branches go off from the trunk. This is what a fork is. If you mine coins and your coins are on a fork, they will eventually disappear as orphans because the the wallet works its way back to the trunk.

The problem is that there is a "patch" that eliminates this problem as the person says. However the reality this "patch" makes this problem worse for honest wallets.

The way blockchains are supposed to work, is they start with a genesis block and every new block is added is connected to the previous one. The block height starts at 1 then 2, and so on. Every new block that is generated by Proof of Work is either accepted by the network, or it is rejected. So when two computers find a block, they submit it to the network. The network evaluates the two blocks and decides which one is correct and which one should be rejected. When a block is rejected it is orphaned. This is how even bitcoin works. However with paccoin you have the added Proof of Stake block. Miners make Proof of Work blocks (PoW), and holders of the coin make proof of Stake (PoS)  blocks. Now if a miner sumbits a Proof of Work Block at a block height of 254328 for example and a Stake holder produces a Proof of Stake block at the same height of 254328, the network will decide which block is correct. With Proof of Work on Bitcoin, it is the fastest hash an the longest chain the prevails, with Proof of Stake it is determined by Coin Age. This is important. If you own a coin that has not staked and is 30 days old, and another person owns a coin that is 60 days old, if they both try to stake it will be the one with the 60 days that wins. When a proof of stake block comes through the difficulty to mine drops. Because the network's security model is not based on Proof of Work like bitcoin, you never have to worry about buying more and more powerful asic miners.

Now the patch I referred to before that breakcrypto strongly endorses because it doesn't cause his mined blocks to get orphaned prevents the system above from working. What it does is it accepts both blocks, at the same height. that means there are two or more blocks with the same blockheight in his block chain. that means a new block can start growing on either one, therefore causing forks. Although there is no rewind issue for him, he may feel good that his blocks are not orphaning, the problem is it causes the rest of us to have wallets dropping out of sync. So when your wallet is in sync and suddenly it drops out of sync by 420 blocks now you know why.

This did not happen until he started using his modified version.

This coin was much more cheaper some weeks ago, it made 10000x since october 2017, now a masternode is very expensive
Anyway is 35 000$

You don't need any wallet. Just buy on tradesatoshi as wmcorless said, than please read some pages of this thread

paccoin.net     is it official website ? or paccoinofficial.com ?

Its the same thing. It takes a while to download the blockchain.

I suggest you to read some pages of this thread before buying any coin

These questions are for the paccoin cash redemption site.

but to try to help you understand what is going on, imagine a stock split. When the price of stock goes up too high like maybe amazons stock for example that is almost 1400 per share. They could do a split and make it two shares at 700. The idea is the value cuts in half, but you get two shares instead of 1, so the cash value is the same.

This I think is what saul is offering, but the opposite way. instead of taking a high priced stock and cutting it in half, he is taking a low priced coin and reducing the quantity to make the value worth more. so in theory the value would be the same, just the number of coins would be divided by 1000. that's the theory anyway.

hope that helps.

I downloaded it before from paccoin.net  . can i cancel it?   https://wallets.paccoin.net/#windows 

https://www.imjpg.com/a/uploads/2018/01/25/20180125141322998.jpg

You can mine by mining your own wallet. However it is difficult to get a mined block now, so we recommend you buy them.

Yobit.net and Cryptopia are not up yet.
I recommend tradesatoshi for now.
You can download a wallet at paccoinofficial.com

Apparently Nova Exchange offered this service before. The idea is that if a developer has a new coin and wants to end his old coin, he asks the exchange to perform the swap.

As the swap goes the old coin is ended, and the new coin proceeds.

The difference here is the old coin Paccoin is not going to end because I'm not letting that happen. I was told that Paccoin wasn't going to die, but when I go to the paccoin redemption site, it appears that they want to go from old pac to new pac. This is troubling because that is not what Saul told me. If Saul wants to simply offer a RCO a redemption coin offering as he calls it, so that people buy paccoin and use it to buy another altcoin such as paccoin cash, thats fine by me. But I didn't agree to him using the Paccoin name for a new coin. If he wants to call it paccoin cash and use the name $PAC again I have no problem with this.
I just cant have him calling his new coin paccoin.

how do i mine this coin ?
 
Where can I buy it? which exchange website ?

How can I download  wallet? i need link.

Bill, I on personal experience will help people understand what is best.
When POS coins come, confirmed by the network have more than 600 confirmations at one point become orphans, and this has been going on for a long time.
 My opinion is that the code is specially registered so that coins are received by someone one and not by investors. This coin will not give you the opportunity to earn interest on POS because its code is broken and earns only those under whom the code is written.
 I'm not talking about investing in a few million, I have more than 11 milliards and even I get only orphans.
And if it were not for a new team, I would not spend a cent on this coin. Proceeding from all told I will translate all in new $ PAC and I will fairly receive the percentages from master-nodes.
 And your coin depreciates as it is broken and the price will depend only on the repurchase policy for the new $ PAC, I remind you that this is:

Mar 1st 2018 - Public coin redemption begins 1000: 1 PAC -> $ PAC
June 1st 2018 - 1st redemption window closes 2000: 1 ratio
Sept 1st 2018 - 2nd redemption window closes 4000: 1 ratio
Dec 1st 2018 - 3rd redemption window closes 8000: 1 ratio

photo with screenshots attached

https://www.imjpg.com/18/20180125134047333-p.html

https://www.imjpg.com/18/20180125134325410-p.html

https://www.imjpg.com/18/20180125134434015-p.html

The question raised by @MOProgress is a very nice question. So if you say 1000:1 it mean we will have only 3.4billion then for us to get 170million market cap it means the price of PAC will be 0.05$ right? But what is the possibility that the price will start from 0.05$?

500m x $0.00007=$350 000
 
Are you serious!?

So do things start to look up come February for this coin? I read some of the recent posts and despite the argue about eggs and chickens is there light at the end of this tunnel?

everytime i open my wallet it reset. it keeps on syncing. thus devs really doing to make the wallet faster. 

So again my wallet has encountered another issue and has vanished off my pc. This time its not the quarantine issue as I was able to figure that out already but now that doesn't fix the problem. I had added that Mega Wallet or Cloud to my files and it seemed to work faster but now nothing is working. My back up files do nothing, my extract all does nothing, my ex file does nothing and I have no wallet on my pc. I am not dealing with these issues with any other wallet and obviously getting nervous as Ive been staking my coins on that wallet since Jan. 2nd. Not sure if anyone else is having this issue and any recommendations on how to fix. I'm afraid to delet everything and start fresh as then where will my coins be. Too much invested to loose.

Any advice is really appreciated.

Thanks,