So does getting rid of all the orphans from my wallet actually help anyone else? What's the big rush to get rid of them?
No. It helps no-one else. By definition an orphan is the record of a submission to the network of work meeting the criteria for generating a new block... but the submission was rejected by the network (usually because someone got there just before you). It's a local record, kept in your wallet.dat file. So it clutters up your wallet without becoming part of the blockchain.
It's part and parcel of mining, whether through POS or POW. The cleanup tool just gets rid of this clutter from your wallet.
You can also clean your wallet, and contribute to the network, by moving your coins to a fresh wallet. It's slightly more costly because you pay transaction fees. But it helps to keep the network moving and alive.
Staking also keeps the network alive... but the current rate of return is no incentive to hold coins. By my own primitive calculations the current 'interest' is about 3.8% PA. The 5% in the official documentation is 'compound' interest based on reinvesting all generated coins. IMO this should be increased to 10% simple interest, with premiums for coins held above 90, 180, 270, and 360 Days (say 12.5%, 15%, 17.5% and 20%). This would encourage people to hold staking wallets, thus securing the network, and help to stabilise the price on exchanges. It could also encourage adoption by merchants who could benefit from holding currency reserves.
Just a thought.
Of course then the orphan removal tool would become more significant, as moving coins between addresses would incur the penalty of lost interest and coin-age. ATM the penalty is negligible.
deadly post man. I explained a bit in the last post. but to explain further.. I want to take care of the community. I want everyone's wallets working correctly, smaller systems to be able to run efficiently and as you mentioned, not only have the tool operable but also used when it does count the most in the future.
its been brought up many a time.. hanz.. why the hell you wanna pay or do developments on a coin with such a low market cap.. the things youre asking only applies to coins with marketcaps in the millions..
the answer is. we deserve and will be back into the high rankings one day. there is no rush for this.. what we build here can be done solely and as you mention by building more nodes (new users and stake nodes) and continuous development of the solidarity of the code.
one thing you must all remember is that when this coin was at its peak of 5000 sat or whatever it was at this point the code was already broken..
the original silkcoin was nothing more but a marketing fiasco based on some qt ingenuity.. which yes was grand.
but as some of you have noticed in the 20-30+ silkcoin forks... the coins die.
difference being of course. we have spent 6 months or so repairing the code. and finally the chain.
the failures of the previous team have been fixed, and we have a solid core of not just a community bbut strange family to boot. (-;
because of this connection. I cannot leave this coin. I cannot quit. I do not pay for these upgrades with coin trading earnings,but with the sweat of my brow and my job in the field outside of coding and technology.
you guys are like my band, my strange crypto family.. and I am here to support and will continue to.
what honesty and honor In the crypto world coupled with long standing code experience and friendly critisicm on such code produces.. well.. in will be interesting to see.
in regards to percentage increase and inflation.. the system you describe is fantastic but I would believe would require continuous forks and with that continued risk to the coin and price.
the community voted on 111% and is what we are building towards.
appreciate your intelligent posts man! as always if I didn't answer correctly please let me know. (-;
