I don't get it. Why even use a pool for staking? Its not that hard.
Also I don't get how people expect pool staking to even work.
Because theoretically when holding 1 PIVX in a wallet, the chance of ever getting a block reward is so small that it probably won't happen for a year / few years. According to the calculator it would take approximately 40 years.
Getting a smaller reward on short term might therefore be a more substantial form of interest (however very very little in USD). Because let's say someone is 30 years or older, the chance of dying before getting the block reward is not unimaginable. And by pooling PIVX, that person gets 0.01 USD of interest maybe, a very small amount not really worth the investment, but that always beats 0.00 USD interest.
Don't forget to use :
http://www.cryptonode.co/#/currency/pivx to check estimates.
Do you know what is the smallest stake on the chain to ever get a block? I have seen below 10...
so if in this case the master node of the future, if deflation will continue. it can reduce profitability if the increased costs.
Not sure what you mean. For every block of 5 Piv, 90% (4.5 Piv) are distributed between masternodes and stakers according to PIVX's 'see-saw' mechanism, while the remaining 10% (0.5 Piv) is allocated to the PIVX budget (development, etc.). This stays the same regardless of transaction costs. MN profitability (in terms of number of Piv generated per unit of time) would decline if many more people operated MNs, but it will not be directly/deterministically affected (again, speaking in terms of number of Piv generated per unit of time) by fluctuations in transaction cost or the precise trajectory of inflation.
If PIVX becomes deflationary, it would mean, by definition, that the network is handling A LOT of transactions. Moreover, it would mean that PIVX itself would be getting rarer, which in theory would increase the unit price, increasing profitability in terms of $$ (not number of Piv) generated per unit of time by MNs and stakers.
Generally, master nodes are not very appreciated with zero protocol as there's no much transparency with this. It's good they're bypassing this.
Masternodes are not being bypassed. Stakers are the primary block validators on a PoS network, while masternodes are 'facilitators', offering an extra layer of verification, improving transaction time, and allowing the blockchain to be downloaded faster. Masternodes will also (I believe) play a role in enabling PIVX's decentralized exchange, ZDex, which is planned for Q2 2018. Currently, masternodes hold all voting power on the PIVX network, but masternode holders previously voted to give up this privilege in favour of a more inclusive community governance model, which will be implemented sometime this year (scheduled for Q3 2018 in the roadmap).
So masternodes' main job is to improve network function, not to increase privacy--though, a MN run through Tor might indeed add some extra privacy as a bonus. The privacy side of things is taken care of by Zerocoin protocol and, once implemented, other upcoming features such as I2P, U2F, and Dandelion protocol, all of which are included on the roadmap.
Dear EleanorZ,
Thank you for your excellent comment. It is refreshing to see an update posted here (and not only on discord
). ZDex and zPIV staking...
I think it shows points with easy misconception about pivx currency expansion and risks generally.
The first aspect is that there is
no inflation for coin Stakers and MNers with PIVX (
https://en.wikipedia.org/wiki/Money_supply). Now there are 55,564,386 PIVX in circulation. Of witch 21060000 are in MNs and some in staking wallets (with a reward of 2.34). The thing is that inflation is sometimes understood as an external addition of currency to the currency stock, which can be seen as currency expansion or monetary base expansion. In PIVX ecosystem it isn't like this, because only Stakers and MNers get the rewards. It means that there is no inflation for them (or loss of buying power due to currency expansion). If a Staker or MNer wants to keep a constant relative % of to total coin supply. He or she can by simply running a MN or Staking Wallet and will be able to stay relatively neutral toward the total currency stock (his % share).
That leads to the second point about risks. Staking isn't risk free. It involved serious risks, known and unknown. For example today I learn about the RCE from Bitmessage... Simply saying that anything online may be exposed to risks. Nothing will be beat cold wallet, be it paper or simply off line but in this case there will be a loss of % share of total coin supply. Simply because there will be no participation in staking or mn and so the loss of the reward.
And finally not all coins are staked or in MN, a lot are cold stored or in transfers, on exchange or offline temporary, which means that the estimates from calculators (
http://www.cryptonode.co/#/currency/pivx) were easy to beat for those who are able to stay 24/7 on line.
Official PIVX Mobile Wallet - Wallet TutorialHi guys, thanks for tuning in. Today we have a tutorial on how to get started with your first Official PIVX Mobile wallet. This video will walk you through the whole process of getting one as well as how to use it. In combination with what you've learned in the PIVX Basics series, this should be quite easy to do. Though if you run into any problems, please join our forum or Discord and chat with us. Both can be found at PIVX.org
https://www.youtube.com/watch?v=w2uJ8xMcSdg I can't wait for the iOS wallet... I waiting for it since so long...
Stay Purple! Keep staking and MNing
.
PS AND HAPPY 1 000 000 BLOCKS (old but still great Milestone)!
).